Customer Reviews

The Stefanchik Method: Earn $10,000 a Month for the Rest of Your Life-In Your Spare Time

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I originally ordered this book direct from the Stefanchik organization via a direct mail piece sent to me. While I found the book very informative and educational in regards to the world of buying and selling paper, it also served as a primer for a follow-up telemarketing call from a Stefanchik representitive selling a rather pricy course on the said subject.

AS A BASIC OVER VIEW OF THE COMPLEX WORLD OF FLIPPING PAPER (PERSONALLY HELD MORTGAGES)THIS BOOK CAN GET YOU STARTED.THERE IS MUCH MORE TO IT BUT IT WILL LAY OUT THE PLANS.

I agree this book has plenty of hype, I mean come on, $10K/month in your
SPARE TIME?! I highly doubt it.
However, this book does have plenty of good information.
Just don't let anyone convince you that the discount mortgage business is an easy way to quick wealth.
Considering that a good copy of George Coats "Smart Trust Deed Investing" costs between $300-$400, this book is a bargain!

This is a very interesting book. It goes into the world "Second Trust Deeds" and "Takeback Notes" and really gives you a bird's eye view of this business. Unfortunately it will not work for 90% of the people.

When I was first introduced to privately held Second Trust Deeds it was as an investment. These Seconds can be as high as 18% or 20%. It's a great way to beat CD's. Unfortunately, these percentages are harder to come by in this easy mortgage environment. Many of the ones available are in neighborhoods that secondary investors would not want to buy in.

The other flaw in his logic is selling before you buy. Many holders of these notes want some type of deposit to hold the not why you find a purchaser.

Lastly, this is a nickle and dime industry. You are trying to make 2% to 3% differences here and there, sometimes you can sometimes you can't. There is really no way of really fulfilling the promises of the title without working this program full time.

I have an investment advisor for 11 years, I focus on futures and commodities, and I have written three books on the subject. I know when the facts are being presented and when it is just baloney. Stefanchik has some facts...too bad it's mixed in with the baloney.

John Sfefanchik has written a very good book on cash flow with discounted mortgages. This information is just as vital now as it was back in 1994 when it was first written. Some companies charge as much ...[way to much] for a 2 day seminar for the same information.

Here is a link to the actual FTC report.

I would read what the FTC have to say first.

http://www.ftc.gov/opa/2004/08/stefanchik.htm

please don't read i