I came across this website on Friday via GRS and didn’t have much chance to look over it (actually… my work spam filter blocks this address for some unknown reason). Now that I’ve had a chance to read over the content, I can add some more details.
It appears as though this gentleman invested in about 8 properties in the space of a few months with very little downpayment. The idea was to fix and flip the houses.
The best part about the site are the comments. They range from the understanding and encouraging to the arrogant and hateful. There is some really nasty stuf on there.
There are two main reasons for the negative comments. One, is that some people figure that if the author was actually able to secure high-ratio loans for so much money, he must have done so dishonestly. A fair judgement since when reading blogs one can never be too sure about the authenticity of what is written. The other reason is that the author has made several statements that don’t quite add up. For instance, when talking about possible bankruptcy, he mentions having spoken to some bankruptcy lawyers. However, some of the details of the bankruptcy as well as the advice he says he’s been given do not sound like something any professional would utter.
Anyway, have a look and you be the judge.