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Jenniehowell's avatar

Do these money making schemes really work?

Asked by Jenniehowell (2208points) March 5th, 2011

I stay up late on weekends quite often and eventually there comes a point where all that is on television are the infomercials.

Half of those are about money making schemes whether it be advertising profits from home, ebay profits made easy, tax lien mortgage systems, catalog sales products etc.

Has anyone actually purchased and put to use these various systems with any level of success? I’m half curious whether there is one out there that actually works for the average person simply for the sake of answering my curiosity, and half wanting to get rich a bit more quickly.

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11 Answers

BarnacleBill's avatar

What they don’t tell you about is the risk. For example, you may purchase the tax lien on a piece of property, but you’re not purchasing the property unless it’s in foreclosure. And in forclosure, you’re going to be in line with other creditors for the property.

I know one person that makes money on eBay. She sells American junk food to customers in Europe. EBay has business opportunities you can buy into and sell their goods, however, there are thousands of other people on eBay also selling the same products.

Flipping houses only works if you have the money and time to put into fixing up property yourself. Any time you have to hire contractors to do the work for you, you are eating into profits.

Whatever the idea is, there has to be a market for the good or service. In the case of real estate, you have to have enough liquidity to either hold the property or cover the expenses. If there was truly money to be made it it, they wouldn’t marketing a “system” for others to do it; that’s where the real money lies, in selling a “get rich quick” scheme to others.

I do know several people that have created niche income streams, but it’s related to things that they know. One is a runner, and after contemplating the paradox of choice, has an online sock business. You don’t need to try on socks, the cost of the item is low, socks aren’t returnable, buying socks online is a convenience. He’s funding his children’s college education by the sock business.

marinelife's avatar

What you have to think about is that the person selling these schemes is making their money selling these schemes—not doing them.

If they are so successful, why isn’t the person selling them in the infomercials doing them?

12Oaks's avatar

A deposed prince of a rogue nation contacted me personally, said they have $50,000,000.00 American to deposit into my bank account for safe keeping. When it all settles, I will be able to keep half for my troubles. All I had to do was give them my bank account information. I CAN’T WAIT!!! I’m gonna be a MILLIONAIRE!!! Oh, excuse me, my monthly bank statement just arrived. Ummmmm, I can’t finish this answer, I have a few calls to make…....

BarnacleBill's avatar

If it sounds too good to be true, it is. As Einstein said, most people miss opportunity because it shows up in overalls and looks like work.

john65pennington's avatar

The real question is this what are we watching on cable television.

I thought I was paying for entertainment, not infomercials, which takes up one third of the channels.

Now that’s a scheme!

Comcast, Directv, Dish networks are you listening?

Jenniehowell's avatar

@BarnacleBill Thanks – I can tell you though, that the laws in each state differ with regard to tax liens – there may be a few states that only allow them when the property is in foreclosure (which sort of makes it pointless to participate unless you can purchase it from the lender at regular price etc.) but most states don’t have that stipulation. My father paid 200 bucks for a 4 acre property with a house on it – the house had to be destroyed due to condition but 4 acres adjacent to his own was a good investment. Some states have longer waiting lists than others and from what I hear the shortest time frame is 3 years (unless you catch a property that is already 3 years behind on the property taxes). I have a friend here who has purchased multiple properties for 1–5000 dollars and he now rents them out and makes an income. In a few cases the owners got the homes back by paying him the interest and taxes etc. I can say that tax liens work if they are done right but of course it takes time and research each of these scenarios was in a different state and each without foreclosure existing in the formula – I’m curious whether or not the research done by those pitching it in infomercials however is valid (meaning does the assistance that you pay for in their alleged support lines that you have access to actually hold up?)

@marinelife I find myself thinking that each time I’m up late and stuck watching infomercials. I wonder what the legal obligation is for these schemes to be valid in order to sell them. For instance, could you and I create one and partner up on an infomercial to make money having never tried it? And if we did, do we have an obligation to guarantee that it will work for those few who actually follow through with the plan?

@12Oaks thanks for the laugh

@john65pennington I agree with you that the whole cable tv thing is the real scheme – I’m not one of the people who has the privilege of cable access – I’m still on the rabbit ear antennae hooked in through my digital box & I wonder what the point of the damn thing is. Perhaps an entirely different fluther question for that one – every time a plane flies over my house or a semi-truck with enough EMI drives by on the interstate near my apartment the thing blitzes out. I swear it would react off of the EMI a fly gives off. My inner paranoid conspiracy theorist has all sorts of ideas about this ha ha.

john65pennington's avatar

Thanks Jennie, I had thought or reverting back to the old rabbit ears, just to avoid the infomericals. But, since you are having such a difficult time with the “ears”, I guess I will just continue to give my money to the schemers of the big three cable companies.

You do realize they have us all by the __________________!!!!

Jenniehowell's avatar

@john65pennington Yes – you are right they do have as all by our…. I’ll just say… “danglers”. I would definitely not recommend the old rabbit ears to anyone who watches more than 2 hours of non network tv each day. I must admit that even if the picture were perfectly clear without interruption I’d still miss the History Channel, TLC, Discovery etc. Not to mention I went too many years without seeing an episode of Dexter etc. I haven’t yet decided if missing cable shows has benefited me in completing the various tasks on my to do list or if it is worth it so that my type A minus personality can become a full type A.

joannamc's avatar

I did actually sign up to an internet marketing scheme where you have a website and sell from it. It does work! the one I did had no investment up front, just a charge which they then tried to inflate with extras! but I only took the basic package and did end up making some money. Not as much as they said, but then I suppose they would blame that on the fact that I didnt buy all the extras! But I do think that they generally a bit of a con.

trailsillustrated's avatar

Do real estate investors really surround themselves with busty, big-haired ladies dressed in club attire in the early afternoon as seen in one infomercial?

Jenniehowell's avatar

@trailsillustrated ha – hmmm something to ponder. I do actually know a lot of women in real estate and they are all busty big haired types dressed in clothes a bit too young for them – perhaps it’s actually true now that I think about it

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