We see all these people apparantly making all this money and saying they will help others but what we mostly find is false promises, lies and misrepresentations all over the Internet.
What I want to see is something of actual value. AND I want to be ABLE to see it immediately for what it is worth, not what it appears to be worth.
I was a Hard Money Mortgage Broker. (def: Hard Money Mortgage: where a Broker arranges a loan between a property owner and a PRIVATE INVESTOR, where the private investor puts up the money for the loan, usually made as a Small Second Mortgage) I got into that field in 1983 and it was cool. There were not many regulations then and we found people who were having trouble paying their bills due, usually, to some temporary situation.
California law required a rather quick "remedy" for lenders if their borrowers did not pay. It was (and is) called Foreclosure and it took 4 months to complete.
So in 4 months a fellow who lost his job and who owed maybe 1/2 of what his house was worth, stood the chance of losing it to the bank. That sucks. And that is where we came in. We would make a small 10 to 50K loan to the guy and prepay all his monthly payments for up to a year. This would give anyone a "Second Chance" to get back on his feet.
Our loans were considered "expensive" as we would usually charge 10 plus % of the loan amount with a minimum of like $3,000.00 to just do the deal. He had no real other options except to lose all his equity.
Over the next 10 years, I saved hundreds and hundreds of homeowners from foreclosure. Only maybe 2 or 3 ended up losing their houses anyway at the end of it all as they refused to get another job or sell their house for full value. I cannot help people who refuse to contribute to the help flow. Fortunately there were only a few true losers.
Then the damn "regulators" decended upon the "Hard Money Loan Business" with "Predatory Lending Laws" to "protect" homeowners for unscrupulous lenders. (meaning my company and others doing what I did). Problem was, as usual, the regulators "through the baby out with the bathwater" meaning that all those hundreds of homeowners I was able to offer a solution to, now had none.
Then the "banks" came to the rescue. They saw that Hard Money Loan Brokers with private money seldom if ever lost $$ and they wanted in on the additional interest we charged. So they set up shop and created the "sub-prime" loan market. They charged more in dollars but less in % as they would always refinance the first mortgage rather than make a small second mortgage. Because they "charged less" (not much less) they had cornered the market.
The PROBLEM was that the large lenders started making loans TOO EASY to get (as Hard Money Loans seldom required more than simple equity in the Real Estate to qualify), and they could not think with making a 60% loan to value loan and would go to 80-90-125% loan to value.
The result was that the loans got out of hand AND the Real Estate Values shot up like a rocket resulting in the highest gain in the history of Real Estate. We all know what followed as we are still embroiled in it. A MAJOR CRASH. One that anyone (especially me) could see. This is why I sold all my Real Estate by 2007.
In the next two to ten years, when everyone is saying how awful it is to buy Real Estate, THEN I will re-enter that market. Meanwhile I have launched into another market. The Internet...
I see a similar problem which resulted in the Real Estate (and the Stock Market) crash with the Internet and the Marketing of money making schemes and get-rich-quick deals offered today. There are so many replicated websites that you do not know who you are even dealing with. It has gotten crowded. Just like the bankers and their crap loans crowded the market with crap loans.
Fortunately the Internet is still somewhat self-regulated. This is good. I see this as a hopeful land of opportunity still.
I am researching the field and will report here on this Blog my results. I intend to find a simple fair and workable method of making a living on the Internet Through Marketing.
I will let you know, so stay tuned...
