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Oh these guys are so exhausting. My favorite was Grant Cardone — the real estate mogul who’s said he’d be ashamed if he made 400k a year. All of them and his il

Oh these guys are so exhausting. My favorite was Grant Cardone — the real estate mogul who’s said he’d be ashamed if he made 400k a year. All of them and his ilk peddling this you can get rich fast stuff are disgusting.

philshem 3y ago
This isn’t one of those get-rich-quick schemes. But guess what? I did! (An old TV ad that is etched into my memory)
- isoprophlex 3y ago
  Hilariously, he's right in the strict sense of the word. For the average Joe, a get-rich-quick scheme doesn't get them rich quickly..!
plagiarist 3y ago
Aren't some of these schemes actually possible but only if you are a scumbags? It's somehow always get a ballon mortgage to buy multi-family housing and raise the rents by 100%, or buy dilapidated shacks and get section 8 money while putting nothing in to improve squalid conditions.
- gigatexal 3y ago
  Exactly. And especially with real estate and landording the quickest schemes are the most immoral / shady.
- ufocia 3y ago
  I thought that Section 8 housing has to meet some minimum standards. Are they really that minimal?
  - plagiarist 3y ago
    I don't have a fantastic recollection of the article I saw, but either the standards were or the enforcement was all but nonexistent.
    - gigatexal 3y ago
      I’ve a single condo rental in Portland. It’s the home my wife and I bought when we got married but rent out now cuz we’re in Germany. It’s rented at less than market because of many reasons none having to do with the state of the home — it’s the nicest place I’ve ever seen — but mostly my ignorance in being a landlord. That being said we try to be the best landlords we can. We fix things ASAP and try to make it like we’d like it if we were renting there. From what I remember the city of Portland at least had such a dirth of units being offered for section 8 due to many landlords having had their units trashed or otherwise fearful of the general bad press about section 8 tenants that there’s not a lot landlords willing to participate in the program leading to a lack of supply. The upside for landlords though is that the govt pays the rent and it’s often a higher amount than one might get otherwise. There are of course downsides.
jackhalford 3y ago
I didn’t know about him, I couldn’t find a wikipedia page for him but I found this: https://medium.com/@grantcardone/wikipedia-has-alternative-facts-c85c11b2456c https://medium.com/@grantcardone/wikipedia-has-alternative-f... Seems an awful lot like he’s trying to give himself a better image by editing his own wikipedia page! Smells conman
FireBeyond 3y ago
There's a lot of reliance on people's basic inabilities to do math. My mother-in-law wanted us to go with her to a seminar hosted/ sponsored/ affiliated with one of the house flippers on TV. They of course talked about their course on how to do it. And they talked about how "nearly 8,000 people have done this!" and that if you did, too, you'd have access to their financing which, "has given our members over $100M to buy houses to flip! Some of them have flipped 20+ homes with us!" Cue oohs and ahhs. Because $100M seems a lot. Until you're talking houses. Because in most areas in the country, even a workable flipper house is still going to be $100K, at a minimum. And $100M only buys you 1,000 houses. Hmm. 8,000 people have paid $5,999 to do your course. And you've flipped 1,000 houses, some people doing 20+ each. That means that realistically, less than one-in-ten of the people who paid for your course ever flip a house. So yeah, they made a not shabby amount on the costs and interests of those loans... ... and $48M "teaching" people to get rich by flipping homes.
- gigatexal 3y ago
  Yeah … such courses should be illegal. Though they wouldn’t have to be made illegal if some people had some sense of shame or any moral compasses. Instead they prey on the uninformed and the gullible

philshem 3y ago

This isn’t one of those get-rich-quick schemes. But guess what? I did! (An old TV ad that is etched into my memory)

isoprophlex 3y ago
Hilariously, he's right in the strict sense of the word. For the average Joe, a get-rich-quick scheme doesn't get them rich quickly..!

plagiarist 3y ago

Aren't some of these schemes actually possible but only if you are a scumbags? It's somehow always get a ballon mortgage to buy multi-family housing and raise the rents by 100%, or buy dilapidated shacks and get section 8 money while putting nothing in to improve squalid conditions.

gigatexal 3y ago
Exactly. And especially with real estate and landording the quickest schemes are the most immoral / shady.
ufocia 3y ago
I thought that Section 8 housing has to meet some minimum standards. Are they really that minimal?
- plagiarist 3y ago
  I don't have a fantastic recollection of the article I saw, but either the standards were or the enforcement was all but nonexistent.
  - gigatexal 3y ago
    I’ve a single condo rental in Portland. It’s the home my wife and I bought when we got married but rent out now cuz we’re in Germany. It’s rented at less than market because of many reasons none having to do with the state of the home — it’s the nicest place I’ve ever seen — but mostly my ignorance in being a landlord. That being said we try to be the best landlords we can. We fix things ASAP and try to make it like we’d like it if we were renting there. From what I remember the city of Portland at least had such a dirth of units being offered for section 8 due to many landlords having had their units trashed or otherwise fearful of the general bad press about section 8 tenants that there’s not a lot landlords willing to participate in the program leading to a lack of supply. The upside for landlords though is that the govt pays the rent and it’s often a higher amount than one might get otherwise. There are of course downsides.

jackhalford 3y ago

I didn’t know about him, I couldn’t find a wikipedia page for him but I found this: https://medium.com/@grantcardone/wikipedia-has-alternative-facts-c85c11b2456c https://medium.com/@grantcardone/wikipedia-has-alternative-f... Seems an awful lot like he’s trying to give himself a better image by editing his own wikipedia page! Smells conman

FireBeyond 3y ago

There's a lot of reliance on people's basic inabilities to do math. My mother-in-law wanted us to go with her to a seminar hosted/ sponsored/ affiliated with one of the house flippers on TV. They of course talked about their course on how to do it. And they talked about how "nearly 8,000 people have done this!" and that if you did, too, you'd have access to their financing which, "has given our members over $100M to buy houses to flip! Some of them have flipped 20+ homes with us!" Cue oohs and ahhs. Because $100M seems a lot. Until you're talking houses. Because in most areas in the country, even a workable flipper house is still going to be $100K, at a minimum. And $100M only buys you 1,000 houses. Hmm. 8,000 people have paid $5,999 to do your course. And you've flipped 1,000 houses, some people doing 20+ each. That means that realistically, less than one-in-ten of the people who paid for your course ever flip a house. So yeah, they made a not shabby amount on the costs and interests of those loans... ... and $48M "teaching" people to get rich by flipping homes.

gigatexal 3y ago
Yeah … such courses should be illegal. Though they wouldn’t have to be made illegal if some people had some sense of shame or any moral compasses. Instead they prey on the uninformed and the gullible