Real Estate Opportunities - Ed Beckley
Number of Customer Reviews for Ed Beckley: 3
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Ed Beckley was yet another one that rode the NO Money Down tidal wave, giving false hope to people that they could make easy money in real estate. He, like many other scamsters in real estate do not really let the people know how incredibly difficult it is to invest in real estate. Granted there are always the few that have all of the ingredients and it works out for them, but the vast majority just throws away their hard earned money on false hope.
I went to an Ed Beckley seminar back in the mid 1980’s and all I remember was how excited I was that I could go out into the market the next day and buy real estate all day long for no money down. What a joke! I soon found out that unless you are in a buyers market you could not get near a no money down transaction, and even if you could you would typically have negative cash flow, and it just got worse from there. As far as I am concerned all of these so-called real estate gurus that espouse no money down should be put out of business.
The only information I could find on Mr. Beckley is negative and the following are some very devastating experiences of others:
1) “An article on infomercial host, Ed Beckley (for more info on Beckley call the Attorney General's office in Iowa or Kentucky):
Home Office Hoax?
Consumer beware! If it seems too good to be true, it probably is. The Better Business Bureau advises us to be leery and anything or anyone who pushes us to make high-cost decisions immediately. Unfortunately, this advice comes a little late to protect you from Ed Beckley, but there's always the next time you feel tempted to buy into something that sounds unbelievably tempting.
When the postcard invitation arrived in the mail, it seemed like a great source for stories for the Home Office column. After all, the company is called Home Business Technologies, Inc. One would think the seminar might include products and ideas to use at home when telecommuting or starting a business. Wrong.
I arrived at the Sheraton a few minutes late Thursday afternoon. I expected to see a large room of home office equipment and maybe some booths scattered throughout with different home office experts. However, after I made my way down a few corridors, handed my invitation to a smiling woman, and pressed a sticky nametag on my sweater, I entered a large conference room of people and took a seat.
I seriously paused for a moment to wonder if I had found the wrong seminar, because this immediately had a fake, oily, Susan Powter infomercial feel to it. I consoled myself by remembering my invitation being taken without a problem and decided the man speaking up front was just introducing the seminar and telling us what we would be doing that afternoon.
Two hours later I was still sitting, wondering when we would start talking about computers and modems and telecommuting. Our speaker was currently going over techniques that would enable us to get rich quick, such as real estate deals and government auctions. I began to think I would return story-less, until I returned to the office to hear that the Better Business Bureau placed an alert on the Home Business Technologies, Inc. Company.
WORK SMART, NOT HARD
While at the seminar attendees were commanded to write, "Work smart, not hard." Apparently, that's the philosophy of the Home Business Technologies, Inc. Company. President Ed Beckley and his followers have allegedly managed to unload 10,000 Iowa consumers of $295 each for a package entitled, Ed Beckley’s Home Study Course of No Down Payment Real Estate. Those Iowans who demanded a full refund only received $10 of it before Beckley filed for bankruptcy.
This very same company had enough nerve to try their scam again in Colorado Springs. It was eerie to watch my fellow audience members being sucked into the dream of getting rich quick. I could actually feel the apprehension begin to dissipate as our speaker, a self-made man named Paul, related his hard-luck life story and his savior, Ed Beckley.
The audience gradually relaxed, chuckled, and began to participate by raising their hands in answer to his questions, falling right into his clutches. He teased us with stories of huge moneymaking deals and schemes, which did sound good, I must admit. But, as I later found out, it was indeed too good to be true.”
2) “There's been a lot of discussion about the "No Down Payment", OPM, 200 Visa Card, etc. methods of buying real estate. This guy Ed Beckley (and friends) must be getting over on quite a number of people. He's been making a habit of bombarding late night TV with a full hour of his bull. On Saturdays he's on two different channels simultaneously!
Beckley’s OPM tapes at 295.00 a clip is ridiculous enough, but this Tim guy encouraging all who listened to apply for NO LESS THAN 202 visa cards is too much. I would love to see someone try to walk into a bank at 10 minutes to closing and demand $1000.00 on each one of 200 visas. I have never known a bank to grant more than 300.00 per card per visit. And even if the bank went for this, it would be financial suicide due to annual charges and loan shark interest rates.
It's obvious that Mr. Beckley has made his fortune using the principal of OPI - OTHER PEOPLE's IGNORANCE....The only action one can take is to send him a skillfully written poison pen letter, which he will never lose any sleep over.”
3) “Moved to Iowa to be near Mahareshi Mahesh Yogi & his transcendental meditation. Shut down by attorney general for not paying refunds. The Wisconsin state Bureau of Consumer Protection published a Guide for Wisconsin TV stations which lists several "Questionable infomercials," among them those of Ed Beckley's Home Business Technologies.”
I can only hope that you read this information in time to protect yourself from Ed Beckley and other unscrupulous seminar promoters for real estate and/or any other business opportunity. Do your homework and don’t just throw your hard earned money away.
Naturally, I do not recommend Ed Beckley.
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