Does John Beck's Real Estate system work?

Answer 1

I have never read any of John Beck's publications. However, almost all of the systems being sold WORK, but they are mostly a bunch of hand holding for people that are scared to jump in the deep water.

I purchase Carleton Sheets program years AFTER I had been investing in real estate, just to see what he had to say. There was an accounting program included that is pretty good for a beginning investor that I wish I had when I started. It isn’t a great program, but for a handful of houses, it works good.

You can get a lot of information from simply reading books published by different authors.

May I suggest the following books for your reading?

"Secrets of a Millionaire Real Estate Investor" and "Secrets of a Millionaire Landlord", both by Robert Shemin, Esq. He has several other books out, but most are a rehash of these two.

"Investing in Fixer-Uppers" by Jay DeCima.

"Investing in Rental Housing" by H. Roger Neal. This is a book by a do-it-your-selfer, and has found a niche investing extremely low income housing. It may not be what you want, or work for your area, but worth thinking about.

"Investing in Real Estate" by Andrew McLean and Gary Eldred, PhD. This is a thinking mans book. Rather than a book telling you, you can make money in real estate, it discusses the financial side. Can be long and boring, but it has things you need to know when you go for a loan. He has several other books examining the hard financial facts about investing in real estate.

Now I'd like to suggest some books that are not about real estate, but about succeeding in what ever you do.

"The Millionaire Mind" by Thomas Stanley. He wrote the book, "The Millionaire Next Door" too. Both are good books, but the former examines millionaires in the U.S. and reveals that most never finished college, and some never finished high school. Most are not flamboyant, but are thrifty, levelheaded businessmen.

I would also suggest you read some of the books by John Maxwell on leadership. This include "Thinking For a Change", "21 Irrefutable Laws of Leadership", "Winning With People", etc., etc., etc.

Now some personal advise from an investor. Don’t buy too much of a fixer upper for your first house. Purchase one that mostly requires painting, carpet, maybe sinks and fixtures.

Purchase a house that will make money if you rent it out if you can't sell it.

Use lease options to sell the house. Structure the lease so that it doesn't acknowledge the option, but structure the option to recognize the lease. This way if they fail to abide by the lease, you can evict the tenants if they are destructive. Require the tenants to lease for 3 years, and then recast part of their rent as a down payment for the house, that they have to purchase at the end of the 3-year period.

Finally, invest in commercial real estate if you can, and it can make money. You have much less problems with commercial tenants than residential, but there are different drawbacks to commercial real estate. I would suggest a book "The Best Damn Commercial Real Estate Book Ever." It isn't the best, but is a very good primer. It introduces phrases and leases that you can look for in other books.

Second, finally, here is a secret if you have read this far. You may be able to find one of these programs at a large discount on Ebay or other auction site, and you may even be able to find one in a library as the donor can take a tax deduction on the donation.

Good Luck

Answer 2

It's a very profitable system, but only for John Beck. As soon as you send him your money, it becomes profitable.

Stop to think about it. If the Beck system (and similar others) were so wonderful, would not Beck and his counterparts be using their systems themselves, and keeping VERY quiet about it ?

Answer 3

only for John Beck

Answer 4

I wasn't impressed with it at all. He talks about buying tax lien properties, but the likelihood of finding them is very low and here is why. Very few people own homes free and clear, and if the taxes fall behind, the mortgage company would pay the taxes and take the house to protect their investment.

So basically, you are looking for homes that people own without mortgages and with tax liens - it is a very low likelihood to find.

You are better off looking for foreclosures or short sales.