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janice
Forums Member
Joined: 10 Nov 2008
Posts: 31
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#1 · Posted: 2 Jul 2009 17:55
I don't know if there is a thread on this but
any feedback with this company. You locate
foreclosures for them and get paid a fee! I'm
really trying to find a good work at home
opportunity.
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Newbie Shield
Joined: 22 Sep 2007
Posts: 2231
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#2 · Posted: 2 Jul 2009 17:56
Hi Janice,
Those types of programs tend to be scams.
I wouldn't bother.
~Newbie Shield~
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janice
Forums Member
Joined: 10 Nov 2008
Posts: 31
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#3 · Posted: 2 Jul 2009 19:07
really! how is that?
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Newbie Shield
Joined: 22 Sep 2007
Posts: 2231
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#4 · Posted: 5 Jul 2009 22:38
Hi Janice,
It's come across this forum on more than one occasion.
Several have complained about being burned. Russ Dalbey put out one of the programs.
People complained about not getting their cut and that the market was over saturated.
I've seen the infomercials. At first blush, it seems like a juicy and easy payday. But, as with anything else, if it screams too good to be true...
Try it as your own risk if you like.
~Newbie Shield~
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TrinaJ
Forums Member
Joined: 21 Jul 2009
Posts: 12
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#5 · Posted: 7 Aug 2009 10:40
Stay away from Ameraco -- their only purpose in life it to take $427 from people -- I don't believe they have a list of investors at all -- their requirements to qualify a property for their review is not possible. I paid my money, and tried to submit 4 properties -- all were rejected. For instance, on 1 property, I had a contract with the bank to buy a foreclosure for $25,000 -- I found comps that said the after-repair value would be approximately $68,000 -- so my contract was under their 40% margin -- it was rejected because they claimed their "review of the market" indicated that another houses on the same street had only sold for $32,000 -- which was true, but it was also a bank foreclosure in bad condition.
They won't refund any money -- but I talked to other investors (of course, after I had signed up) -- and several had attempted to submit properties but no one had ever had one purchased.
Oh well, live and learn.
I've given up on real estate and have moved on to online affiliate marketing. Slower, smaller, but forums like this really help.
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BobFirestone
Forums Member
Joined: 1 Jul 2009
Posts: 142
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#6 · Posted: 9 Aug 2009 01:29
These programs always fail the logic test... "Why would they pay you a referral fee for something they can get online in 5 minutes for free?"
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