Will Cash Finder System Help You Find Cash?
Quick Summary of Cash Finder System
Rating: 2.5 out of 5. It's not a scam, but it's not as easy as advertised.
Pros: You learn how to spot undervalued homes and offer them to investors-buyers. You learn about the business of buying and selling real estate.
Cons: Being a real estate finder is significantly more work than advertised by this system. You face stiff competition from other realtors and finders. You'll need to travel to real estate locations and auctions to beat others to the punch. You'll need a fair amount of house construction and rehab expertise.
Our Recommendation: While Cash Finder System is a legitimate career possibility, it's not as easy as advertised. You should first consider if you have the required know-how and desire to hustle before you pay $99 for this system.
Cash Finder System starts out by stating that it offers work from home opportunities for people interested in becoming “Professional Finders.” As a finder, you can be paid big fees of $5,000, $10,000, or $15,000. One example mentions making $5,420.58 for just “a couple hours of work.”
The usual eyebrow-raising claims are made, including the following:
- There’s very little work required.
- You don’t need any kind of training or education.
- The checks are delivered right to your door.
- You can work from home.
- You don’t need to create a new product.
- You don’t need to sell anything.
What are professional finders?
The first clue you get is the following:
The second clue states that all you’ll need are “a telephone and access to the Internet.”
Finally, about a third of the way down the sales page, the professional finder is defined as follows:
Lee Gilmore is introduced as one such finder.
Apparently, in the case of Cash Finder System, you’ll become a real estate finder.
Here’s Lee, by the way, who gives you a summary of the vast amounts of money you stand to earn by finding real estate for buyers. The video cuts off midstream, but you hear enough of his message to know that being a real estate finder is the ticket to big bucks and little work.
Lee then encourages you to purchase his Cash Finder System so that you can get trained to become a real estate finder.
The Cash Finder System offers the following items:
- Self-paced training videos and their transcripts.
- Resource center with tools to help you find real estate in your own geographic area.
- Pre-generated scripts, postcards, and an amazing “one page letter” that generates leads.
- Information on when to present investors-buyers with your real estate finds.
Lee assures you that you need no specialized training to become a real estate finder. You don’t even need a realtor’s license.
Sounds good so far…
How much does Cash Finder System cost?
It costs $99 to purchase Cash Finder System; however, if you are one of the first 50 persons to purchase the system, you get your membership fee back. How do you get your money back?
Lee says that once you close on your first real estate assignment, you need to take a picture of yourself holding your finder’s check and send that photo to him. He’ll then reimburse your membership costs.
Does Cash Finder System work as advertised?
Real estate finders, also often called property locators, do exist. It’s also possible to make money as a real estate finder/property locator. However, it’s not quite as easy as advertised. Here are some reasons why.
You’ll face competition.
At least 75% of realtors are also in the business of being real estate finders. In fact, it’s their job. If a realtor beats you to the punch and finds a good property to sell to his buyer, you won’t be seeing your finder’s fee.
Realtors have more experience and more training than a “regular” person at finding and assessing properties. They also have access to a wide network of other realtors and realty companies that you don’t.
You will be travelling.
Many real estate finders scope out foreclosed properties or properties about to be foreclosed upon and approach the current owners about selling beforehand. If you have a thick skin and don’t mind being viewed as a vulcher, then being a real estate finder could be a good fit for you.
However, you better not mind hearing ‘no’ again and again. Also, unlike what Lee promises in his sales videos and page, you will indeed be getting in your car and traveling to real estate locations. You will also be selling- as in, you’ll be selling the idea of selling to various homeowners who are behind on their mortgages.
You need rehab expertise.
If you are a building contractor or builder, you have much of the needed expertise already in place to quickly assess how much a property will cost to fix up and sell at profit. If you don’t have much experience as a contractor and/or have never rehabbed a property, you’re going to be in for a sharp learning curve.
Can you spot an undervalued home that would make a 50% or higher return on investment following a few inexpensive updates? This is, in essence, what many of your investors-buyers will want to know from you.
This isn’t for newbies.
Don’t expect to get investors-buyers lining up to work with you by simply sending out a few postcards and sales letters, like Lee claims.
You’ll need to get on the ground floor and rub shoulders with contractors, auction agents, and real estate brokers. You’ll need to physically attend real estate auctions because, by the time a property is listed online, it’s already spoken for by another realtor or property finder.
You’ll need to learn the legal ramifications of finding a house that is behind on tax payments, or has expensive update clauses (e.g., connection to city water) as conditions of its sale.
Should you pass on Cash Finder System?
While the Cash Finder System proposes a legitimate career opportunity, it vastly underestimates the amount of time and effort you’ll need to invest in order to make this career pay off for you.
Unless you’re prepared to go “all in” with becoming a real estate finder and traveling to various properties and investment possibilities, you won’t discover many hidden gems by just working from home. Likewise, you’ll need to sell your realty proposals to both your investors-buyers and to current homeowners.
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