All Forum Posts by: Anthony J Cappetto

My fiancée and I have been researching and learning the business of house flipping/rehabbing since Sep 2021. We heard of a program which uses other people's money OPM (I will keep nameless and call Program A) and enrolled with them for a fee of several thousand dollars. We didn't have the membership fee available so we financed with a personal loan. We were very eager to start especially with Program A's "Guarantee to help flip our first home!" promise. Program A also provided a money back grace period of 2 weeks but after we started the class, we found it very insightful and thought we could really do it based on the current course material. Unfortunately, the course material was released based on time and that's when the POF section appeared, which was after our refund grace period. Basically, the instructor provided us a word document template bank statement which we were to fill out with a local bank's information and showing a fake dollar amount. During the video course, the instructor said "I am looking right into my computer camera. This is NOT recommending you to do any of this, this is NOT something I DO *wink, wink*. This is something your competition may be doing of what's going on out there on the market *wink wink*." This was the portion of the program that did not sit right with us and have since been trying without it periodically but overall has turned us off to the whole business of flipping. Is using this template legal at all?

So you want to lie about having money, your kidding right? Either you have the money or do not. You are not anywhere near ready, to even look at properties. Connect with someone doing deals, learn then apply what you learn

This is the advice coming from a well known "flipping mentor" and I was simply asking because this feels unethical and potentially illegal. Apologies for the miscommunication, but I was more so asking because we paid for this program to have the course instructor give us this as one of the steps to succeed in the flipping business. Also, can you please clarify that this is in fact illegal or not because I want to seek a refund for the program.

Like I have said MANY times on BP, stop wasting your time and money on guru course, this is 100000% illegal, You are lying about having money when you do not. So you are doing nothing but wasting everyone's time. You can close if the offer is accepted.
Not sure who this guy is telling you this, but I find it very hard to believe someone would tell you to lie and create a fake bank account
Good Luck

Our thoughts too. Thank you for the advice and we definitely learned a lesson from this as well.

1 Vote

Fort Lauderdale, Florida

Quote from @Matt Devincenzo:

No a POF is literally funds in your account in your name. That is a fraudulent action in putting together fake documentation to achieve a specific result (e.g. a contract on a home). Many people do it, but that doesn't make it less fraudulent. I'm sure most get away with it as the actual damage to others is minimal if they accept and you close or assign the deal. That doesn't make it less wrong to do it.

This was our thoughts too. We never went through with this step just because it didn't feel right. Thank you for the advice and we will be seeking a refund.

0 Votes

Fort Lauderdale, Florida