Real Estate Opportunities - Wayne Phillips
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Wayne Phillips is yet another real estate expert who claims high but offers nothing worthwhile. His name is associated with real estate loan advice and he has earned notoriety for his inner-city investment programs. Before this disgrace, he was among the leading government-giveaway and real estate promoters. He was often nationally televised. In 1991, the Federal Trade Commission forbade him to make any claims that were not genuine and fined him $50,000 for his acts. In 1995, the FTC sued him for $2.1 million because Phillips did not pay the fine levied on him earlier. Not only this, he owes Texas a fine of $30,000.
Phillips has written a book “Government Loans: The Road to Real Estate Wealth”. Opinions vary about the book as some find it a good guide that puts forward step-by step method of using the various lending programs of the government while others find lot many lacunae in the book. The book also discusses about how you can buy property by paying meager or paying no down payment. The FTC charged Phillips for duping customers about procurement of government grants. One of the 30-minute commercials of the series "Money, Money, Money" made this claim.
While many find that the various government schemes such as FHA, HUD, Urban Development, etc. are difficult to pursue, Phillips emphasizes on the nooks and corners one can utilize to procure these benefits. He considers the Government loans as “Gold Mines” and asserts that he knows the way to explore these mines. While the government has devised number of programs to help the poor, elderly and needy the resources never reach them. The people in between such as the federal and state representatives never let the schemes reach its targeted place.
The Federal Trade Commission does not approve of what Phillips offers as a real estate business expert and from time to time has levied fines on him because of his false claims. His investment program is not worth recommendation.
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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