Has anyone heard of this program at “useourmoney.biz”?
Does anyone know what it is (probably a scam, eh?). They claim they will teach you how to find distressed properties, then buy them, fix them up with their own, and after the sale they will split the profits with you.
Haven’t heard of them, but I’m not sure why someone wouldn’t just pay a flat birddog fee for someone to find a property where they’d have to use their own time and effort to fix it up and sell it.
From reading their FAQ, it sounds like they make money “training” you with their 4-week program. After that, they’re probably going to give you a hard money loan. Seems like it would be better to just have a money partner/mentor or just do a hard money loan where the lenders are being more up front about what they’re really going to do for you.
I also bet the numbers will need to work similar to hard money loans, 65-70% ARV at best.