Easy Money—Rarely Is

The FTC just won a court judgment against three get-rich-quick schemes that promised big dollars in real estate in return for minimal investments. These schemes typically target financially stressed consumers. Here is the story: http://www.nclc.org/conferences-training/consumer-rights-litigation-conference.html

The promises were the same ones you hear over and over, little to no money down and lots of money in return. The problem, less than one percent of the consumers that buy into the product ever see a return on the investment like the expectations the scheme creates. Oftentimes, these schemes bring you in for a small investment into their system and then give a hard sell to suck you into buying on their add-on products and “personal coaching” that really costs you.

The action by the FTC was against the marketers behind the infomercials for “John Beck’s Free & Clear Real Estate System,” “John Alexander’s Real Estate Riches in 14 Days,” and “Jeff Paul’s Shortcuts to Internet Millions.”

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