Is John Beck's home system a scam?

Question

Can you really buy houses for under $1000 and sell for a huge profit?

Answer 1

I am sure that someone has done this, but they leave out quite a bit of information. There was probably other liens that were associated with the property which they dont bother disclosing. They also dont bother telling you when this transaction took place and how many times they have actually done this. If you could get that information, you would probably find out that it was done a few times many many years ago. Also he may not have even been the one that did the deal. These guys peddle a few success stories to millions of people telling everyone that they too can get rich quick. Just think if he could make thousands per deal all day long, why would he tell you how for a couple of hundred dollars. It because he makes his money selling people dreams. Dreams can come true, but very few people have the skill set and luck to make it happen.

Good Luck  

Answer 2

Any government that sells a property worth $200,000 for $1000.  Would have it's citizens clamoring to have their heads.

Any bank that sells a foreclosure for less than they can easily sell it would have the same problem with it's stockholders.

There are bargains but you can not find them easily because if they were easily found they would be bid up very high.

Answer 3

Check out RipoffReport.com

You can buy tax liens, but they are few and far between.  I ask myself, "If I have a great money making opportunity, why in the  h**l would I want to share it with someone who would be my competitor?"  He's making money off the desperation of other people.

About three days ago, a house in Detroit sold for $1.00 after being on the market at that price for 12 days.  Problem is the house was completely gutted of cabinets, fixtures, wiring, plumbing, air conditioning, water heater, etc.

The houses you see on his advertisements are not typical by their admission (read that very, very rare).  They are generally located in rundown neighborhoods.  I can't imagine an English Tudor home for sale at any price below $200,000 in a good neightborhood.

Answer 4

you can but heres how it really works-you go to a tax lien auction the county puts on,you bid on the tax liens and the highest bidder wins-you only pay the taxes owed at that time-then the owner has 1 to 2 years to pay you for the lien you bought plus a high interest rate anywhere from 8 to 30 %.if they dont pay in the time frame,you start proceeding to take the property.if you end up with the property,you will have to pay what you bid for the property.its not a scam but its a hit or miss system that doesnt always guarantee you a property