About 10 years ago, my husband and I watched the Carleton
Sheets Real Estate infomercial and we were so excited
about what this program was going to do for us. We
thought that finally we found an avenue for independent
wealth. We firmly believed that it was going to make
us independently wealthy and it was going to be easy.
And if you’ve watched the infomercial, you probably
thought the same thing.
This
couldn’t have been further from the truth! This
infomercial will make you believe that his system
is as easy as 1-2-3. Let me be the first to tell you
that it is not and here’s several reasons why.
First
of all, not everyone qualifies for the “No Money
Down” approach to purchasing real estate. And
if you don’t have money to put down on a piece
of real estate, the system fails immediately.
Secondly,
remember that owning rental property also means that
you will be taking on all the responsibilities of
a landlord. Maintaining property takes time and money
and it’s not easy, no matter what anyone tells
you. Not only are you dealing with the property itself,
but also the tenants, rent, evictions, destruction
of property, etc. I don’t know about you, but
that doesn’t sound like much fun to me.
Additionally,
you will also have to spend countless hours driving
around looking for real estate to buy, as well as
reading ads in newspapers and magazines and speaking
with realtors. And remember, Carleton Sheets has been
marketing his system for so long that there are thousands
of people just like you competing for the same property
you are. Unless you have a deep passion for buying,
selling and renting property, chances are this system
will fail you.
So
basically, if you’re going to make this program
work for you, plan on spending most of your free time
working for it. This is not my idea of financial freedom.
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