You've probably heard the ads on the radio: learn how to flip houses and make money. But this "free seminar" could come with a few catches.
The ad, voiced by Thad Merrill, host of A&E's "Flip This House" says, "My team and I are looking for a handful of people in the Akron and Canton area who want to learn how to make 10 thousand to $40,000 per deal in your spare time without using any of your own money."
This language caught Tim Ferris's ear.
"How they do it on someone else's dime. That's the key thing that really interests me."
The free educational seminar is being offered in Cleveland, Akron and surrounding areas.
We checked with the Better Business Bureau, who had a representative in Cincinnati recently attended one of the sessions. They found it's free to walk in the door, but if you want the program, the up-charge is in the hundreds, and in some cases, even thousands of dollars.
"I would feel like the commercial is misleading then, because that's not what they told me. They said learn how to flip a house with basically no money," says Ferris, who is attending Saturday.
We spoke with one of the program organizers over the phone, Paul Esajian. He fully admits, this 90-minute session is free, but continuing education costs about $200 for an extensive weekend program.
Esajian says this is not a "get rich quick" scheme, and attendees will learn that making money from real estate is a long process.
So, how can they say "no money out of your pocket"? One of the things Esajian says they teach people is how to find private investors to back your real estate venture.