I absolutely do not recommend Ed Beckley, and the same goes for many other so-called "No Money Down Real Estate" gurus. He is infamous for his package called “Ed Beckley’s Home Study Course of No Down Payment Real Estate.”

For those of you who are lucky enough to read this material now; be warned about this con. For the rest, I wish that I could have provided this information sooner and hope that this may provide some consolation.

I remember when I got a postcard invite in the mail. It at first looked like a good source for stories on Home Offices, especially since the company was called “Home Business Technologies, Inc.” It would seem that many would believe that the seminar would include ideas and telecommunication products for effectively starting a business or something along those lines – wrong.

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When I arrived at the hotel for the meeting, I was expecting to find numerous informational booths on different technologies. Instead, I soon found myself attending an oily feeling, fake, Susan Powter infomercial type seminar (the type with the aura of con artists). After getting a name tag, I was seated in a chair. A speaker went up there (I was hoping he was just going to give us a brief introduction on how the seminar would proceed) but he just went on about getting rich quick with real estate and government auctions.

After the meeting, I thought that I would be going home without a story to write; however, I found out that the Better Business Bureau placed a warning on the Home Business Technologies, Inc.

What I found really interesting at the actual seminar was that attendees had to write out the phrase, “Work smart, hot hard.” This is apparently the motto of the Home Business Technologies, Inc. firm. The company was able to unload maybe 10,000 consumers with the packages at a price of $295 each. When customers asked for full refunds, the company declared bankruptcy. If lucky, these customers received only $10 of their money back.

Beckley’s tapes at $295 a pop seemed ridiculous enough, but to add insult to injury, there was a guy named Tim who also talked to audience members. He encouraged everyone to apply for NO LESS than 202 visa cards in order to purchase real estate. This is ludicrous! Even if you were able to get that many cards it would be financial suicide to use that many or even apply to some of these cards. If you figure in annual and/or loan shark interest rates, you would have to declare bankruptcy in no time flat.

Now, for the conciliatory part, Beckley’s scam didn’t work out to well and I hear from reliable informants that he had to declare personal bankruptcy. Serves him right! That’s what he gets for scamming people.

I don’t recommend Beckley and urge anyone who's considering him to exercise due diligince before giving him any money.

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