Real Estate Opportunities - Richard Powelson
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Richard C. Powelson belongs to the realm of real estate business, having a few real estate companies to his name. He has imparted training to many seminar lecturers. Thus, he carries the title of the "teacher of Teachers". He has also offered counseling for negotiating deals worth millions of dollars.
When it comes to analyzing his work from the ethical point of view, you surely have a different opinion. A person who attended one of his seminars in San Francisco was appalled to find abundance of tricky schemes he indirectly suggested to the listeners. He had scores of tricks to tell about, that involved pretense and sham. While he did not advocate the methods, yet the emphasis clearly showed that the pointer was more on the tricks.
Powelson’s book Formulas for Wealth: How to Create a Fortune in Real Estate claims to deal with topics such as how to increase personal income, how to make millions, etc. It also involves the so called proven methods of getting self-employment and building fortune with No-Money-Down method. Some suggest that the book offers serious reading and people planning to make money must read it. Powelson suggests that not every method is applicable on every kind of property. Different strategies go with each and the book emphasizes this basic criterion of property purchase. Aspects such as lease-option, contracts and wraparound mortgages have also been emphasized. The downsides of such investment strategies and the probable solutions are also delineated.
One of the main flaws of the book is that it quotes unrealistically low prices in the illustrations. When the average buying price of houses is around $100,000, the book gives an estimation of $40,000 to $50,000. Depending upon such estimation can result in severe setbacks and you may commit mistakes while making a deal.
I do not recommend Powelson’s programs for you if you are an ethical businessperson and you cannot depend on his book either because of its erroneous estimation of prices.
I am a real estate investor and all I can tell you is that you need to develop a network of people that you work with who can make you strong where you are weak. If you are being mentored by another individual or group or have gone thru course after course and have tried to succeed but are finding it difficult give me a call at 760-931-4770 or e-mail me at John@jcsbicca.com and I will discuss with you my program. I have money available for gap financing and fix up so that you can succeed. I already have 40 students that I am helping. These are not my students but another company that specializes in mentoring. My capacity is limited so I am very selective. So contact me to see if you qualify.
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