It sounds like you are well on your way, and I wish you luck!
I think you are misunderstanding where I am coming from though.
Nothing you (and kmrei) have said I didn’t already know, mostly from:
a $15 purchase, “Investing In Real Estate, Andrew J. McLean and Gary W Eldred, 2006”
a number of ancillary sources including RE professionals, an investor I know personally, and a few other books and publications I received recomendations about from professionals.
I also have talked to a few SCORE representatives about REI, one of which was a builder and RE investor for 35 years, and still owns half of a high rise and 4 large Apt Bldgs.
None of these sources cost me more than the price of lunch and cocktails, and in fact after the first little while, the SCORE gentleman bought ME lunch when I met him in person. In all cases, these sources have told me that YES, No Money Down systems work, short term, but the risks they entail are very high and they would not recommend them.
So, from the lips of very well established people the answer is “no” to No Money Down. I’m all for creative deals, but not when people who have made millions in the business say to avoid something. Of course, I’ve heard a lot of ‘oh, but its in their best interests not to tell you the truth’… what, a SCORE counselor is going to lie to me? Huh? A guy who isn’t even in my area? I’m not an idiot to be taken right to my face.
Now, in your case, I do hope you succeed, if in fact you are a legitimate poster. I doubt that though, as your pattern is identical to the pattern of another pair of posters on another RE board. I’ve learned to take short shrift with this sort of thing right from the start and if I really have made a mistake, I will apologize to you in person, and buy you several ice cold ones and a steak with all the trimmings.
Im a skeptic, a realist, and relentless in pursuit of my goals. I don’t believe in pessimism or optimism, since they are both distortions. I make REAL money for myself and my family, and I pay fair prices for information, fair amounts for commissions, and believe that a good deal is around every corner. I believe in people, networking, and that your luck grows the more you work.
I also believe that I can invest that $5k in something a lot more profitable than a Real Estate seminar about topics that are not disclosed, utilizing methods that are secret and involving legal documents that can’t be discussed.