This one took a while for me to figure out until I came across an individual who was tired of pushing the bull and was getting out of the game. He was apparently spending his last week in one of these boiler rooms cleansing himself of sin by laying the truth on anybody who called.
Here is how and why these foreclosure.stores and .world, etc, operate. Foremost, they have no real estate experience, real product or information to offer. They are simply middlemen who harvest potential client info via emails entered through these one page websites promising the moon in real estate wealth.
This data is then sold to real estate guru's such as, and I am making a name up here, "Your rocket ride to real estate millions, etc." They are involved in zero legit RS business except as a mailing list purveyor. I am paraphrasing but my contact told me that his group was known as the "largest marketor of real estate propects in the nation" or something to that effect.
The second aspect of the business includes a series of "books" they market, along with a credit check for 400 of 500 bucks. The agreement with the gurus with whom they sell the list must state that they will only pass along viable credit candidates. The 3-ring materials passed off as instructional book material is of moderate value. I would rate the worth of the package I received at 50 bucks. I am afraid the money from this is enhanced by the fact that while promisng you a 30 day grace period with a no risk refund, I was billed 2 days after agreeing to review the booklets It was a living hell convincing them to credit me back and I do know how to barter those negotiations very strongly. A weaker dispositioned victim would not receive a refund I am sure.
The real lies and subterfuge comes into play in this way. Nobody will come clean and simply explain the questionable middleman position they hold. Afterall, any shmuck like me can call a real estate guru directly. They all pretend to know each other and are one big happy corporate family. You throw a name out there and they affirm a relationship. You can throw damn near any name on the table and they will suggest they share an office cube with this person. You know for a fact that they do not, and this person was simply another salesperson from another middleman group unrelated in any capaclty to the person you are speakiong with. As I began to figure the deal out I made up a name and apparently had just left a meeting with Mystery Date Man.
I had another woman tell me that they had a best deal relationship with 97 mortgage banks and I was pre-approved. Total bull as it turned out, again , they are simply a mailing list compiler. If you ever wrote a mortgage check you have more experience than they do.
While I am in fact OK so far with my real estate guru, (so far, barely so good), the fact that I challenged him on this structure and he affirmed the relationship demostrates that while they know some real damaging bs is going down, they fail to do anything about it as it continues to bring in the dollarinos.'
Operate with extreme caution, due diligence, BBB, or better yet, stay away!!
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