One look at the Cash Finder System, and no one would blame you for thinking it’s a scam. It has all the red flags of a scam.
From the moment they say no skills required, and no risk… to the claim you will soon be earning more in a month than most do in a year. The Cash Finder System sure sounds like a scam.
But, as it turns out, the answer isn’t so simple. Let me explain…
Please note, I am not a member or an affiliate for Cash Finder System. This review has been researched with information and testimonials that are available online in the public domain. Any conclusions drawn by myself are opinions.
What Is the Cash Finder System?
The Cash Finder System takes a unique approach to the make-money-online market. They claim you can earn big money from real estate, without ever leaving your house.
Using your computer, cell phone and an internet connection, the pitch is that you’ll be getting multiple checks every week ranging between $3,000 and $15,000 each.
I’m not a real estate expert, but coming from the construction industry… I have a little experience. The idea of making money in real estate 100% online is new to me.
But that’s what Cash Finder is promising you.
They say they’ll teach you to become a “home finder”, so you can locate specific properties and match them to wealthy buyers…
For your efforts, you collect a finder’s fee (or assignment fee). Sounds simple right?
So simple in fact, that if you’ve watched the Cash Finder System sales video, Lee Gilmore… the program creator, says there are three steps…
- Find it
- Post it
- Start depositing checks
I’m going to go out on a limb here, and say he missed a few steps.
I get what he’s doing, and there’s no harm in breaking the process down for an general overview of what you’ll be doing.
But, what he did not do is explain that the entire process requires time, money and/or experience. In fact… he says you don’t need those things. But Cash Finder System (or at least what it teaches) is a lot tougher than “Find it, post it, and start depositing checks”
How Does the Cash Finder System Work?
Earning a finder’s fee for locating real estate is legit, and it’s a big business. The people who do this professionally are called Bird Dogs.
A Bird Dog is someone who finds distressed properties that are selling at a discount or are under-priced due to financial hardship.
It’s not uncommon for a Bird Dog to cross reference homes in certain locations with local layoffs and economic misfortune.
The Cash Finder System, which is $99 (but I’ll explain how you can get it for $79), claims to show you exactly how to do this. With the system you get,
- 12 step-by-step “real estate wholesaling and finders fee” training videos with transcripts.
- The Cash Finder resource center which provides you with the tools real estate finders use.
- Scripts and templates such as letters, etc.
- Tips and information on where to find buyers and investors.
Since this is a legit way to make money, the Cash Finder System must be legit… right? Well, as I said, it’s not that simple.
Is the Cash Finder System a Scam?
The “system” itself is not a scam. What I mean by that is, you are getting the course and resources you pay for.
However, Cash Finder System uses deceptive marketing, and that’s where they risk crossing the line of becoming a scam.
So, although you’re getting the course you paid for, what you’re not getting is the “experience” (or simplicity) you’re paying for.
The first lie you are told, is that it’s easy… saying things like,
- No experience
- No new skills
- Copy and Paste
- No risk
- No investment
- No selling of any sort
- and… “your checks just arrive… multiple times a week”.
… and Lee Gilmore lays the fear on thick, “You may be watching this video knowing your real dreams are on hold indefinitely. Doesn’t that tug at your soul? Like a cancer eating you on the inside?”
That may be true… but a cancer eating you on the inside???
He goes on to say, “You’ll never find an easier way to earn big chunks of money” , which is a pretty bold claim.
It’s as if he’s the top authority on making money and he has a crystal ball into your future…
If you look up scam in Wikipedia you get…
“A scam or confidence trick is an attempt to defraud a person or group by gaining their confidence.”
There is no question Lee Gilmore is trying to gain your confidence. I’m not sure if misleading you into believing he can make you rich fast and easy classifies as fraud… but it is dishonest.
So… Cash Finder System might not be a scam in the strictest sense of the word… but it’s certainly pushing the boundaries.
The Second Lie
If the first lie is that it’s easy, the second lie is how much the Cash Finder System costs. But don’t worry… it’s a good lie. The price is less than what you’re told.
He goes through the typical price drop sequence. It’s worth a thousand, but we’re not going to charge you a thousand. We’re not even going to charge you $500, or $300.
You can get the easiest way to make those big chunks of money for only $199.
If you hurry before the timer runs out, you can get it for $99. Of course, I had to let timer run out to see what would happen. Would it really say I’m too late?
Well, nothing happened. The timer just stops. When you go to the checkout page, the price is still $99
So, the $199 price is just to scare you.
It’s when you try to leave this page however… when something happens.
I mentioned above that there was a way to get Cash Finder System for only $79. To get this deal… just go to the checkout page, and then try to leave. This screen will pop up.
The price quickly drops from one thousand to two hundred bucks… then ninety-nine, and finally seventy-nine.
So what’s the problem?
The first price drop is creating false urgency, the second price drop will just make you mad if you’ve already paid $99.
A lot of marketers use these tactics to get you to act. I’m not a fan of them, but I also understand the reason… and it’s true, once you leave their website the chances you’ll come back are extremely small.
So they give you just a little nudge so that you click the buy button, and pull out your credit card.
It might be a small lie, but when you add this to the other lies told by the Cash Finder System…you have to ask… if you can’t trust them to be honest before you buy, why would you trust them after?
And that leads us to our next set of problems.
Finding Off-Market Real Estate Is Not Easy, or Free
The biggest problem that you’re going to face is extreme competition. As an affiliate marketerYou’re up against sharks such as industry professionals,
- Real Estate Agents (75% who make this a regular part of their income)
- Real Estate Investors (who employ Bird Dogs)
- Real Estate Wholesalers (Bird Dogs who put their money down on the property first)
- Home Inspectors
- General Contractors
You’re also competing with other people who are doing exactly what you are but have been doing it a lot longer and have an established network of contacts and resources.
To compete with professionals will require time and money… which are both investments… and with every investment, comes risk.
So, in my opinion, Lee Gilmore’s third lie is “no risk, no investment”.
I’m Not Saying You Can’t Do It
Becoming a property finder, or Bird Dog is something you can do. But… it’s not easy… and if there’s one reason to call Cash Finder System a scam, it’s that they’re taking your money BEFORE they explain what I’m going to explain here.
You need to bring something of value to your client. In fact, all forms of making money require you to bring value… which is why making money requires time and effort.
In the case of finding property… you do NOT have secret access to property listings that licensed real estate agents and investors don’t.
In other words, you don’t have an advantage here… and a $79 Cash Finder System is not going to give an an advantage over trained professionals. Sifting through property listing and bringing them to investors provides absolutely no value whatsoever.
They can do that themselves, or they can hire someone extremely cheap to sit at a computer and do it.
What many real estate agents and investors do, is hire an entire “team” of Bird Dogs to drive around neighborhoods, talk to people, find companies who have laid people off… figure out who those people are and where their live.
They’re also the people responsible for those ads and signs you see, “We Buy Houses for Cash”.
You cannot bring that kind of value to a buyer by sitting at home on your computer. And don’t forget… these investor/buyers are sharks too. It’s what they do for a living, so even if you do find a deal, they will negotiate hard. They’re not just going to hand over $15,000 checks.
Keeping The Deal
When, and if you find a deal, how are you going to get paid?
The buyer will want to see the property and speak to the owners first, in which case, they can simply cut you out of the deal.
In the real world, home finders/Bird Dogs use contracts. And to have a contract that will stand up in court, you’re going to need an attorney… which costs money. More money than a $79 course.
If the investor senses you don’t have enough money to take a dispute to court (even if you have signed papers)… they may call your bluff, drag it out, and see what you’ll do. Some might even think they’re doing a favor by teaching you a lesson.
This is why real estate wholesalers (who are basically doing the same thing as Bird Dogs) will put their own money down on the property first. Then the investor has no choice but to pay what the wholesaler is asking.
Without legitimate resources, you’re facing a steep learning curve and you’re negotiating from a position of weakness.
The third problem is that you need leads, which require marketing.
Marketing means money, and you need both seller leads, and you need buyer leads. If you have no leads, you have nothing of value.
The truth is, finding homes is a legitimate way to make money and I don’t want to discourage you. But it’s like any business… it will take time and effort to learn, and there will be “trade secrets” you’ll need to uncover by working with or learning from experienced people.
For Lee Gilmore to say there is no investment, skill or experience required, and there is no risk… is an absolute lie.
You MUST invest time and money, which you risk losing… and you’re up against others who have a lot of skill and experience (which means you need to develop those skills and gain that experience as well).
The Cash Finder System does not tell you this.
What I Like About the Cash Finder System
- It’s a legit way to earn a real income, but only if you’re willing to invest the time, effort and money.
- There is some value in these training videos. Not necessarily to turn you into a real estate tycoon… but it can get you started down this path if it’s one you choose.
What I Don’t Like
- You will be traveling…. talking to people, taking pictures, inspecting properties… all of which require time and money.
- The dishonest marketing tactics. If you can’t trust what they say before you pay them money, you can’t trust what they say after you pay them money.
If your mind is set on real estate, my recommendation would be to do more research before buying the Cash Finder System.
And it’s important to keep in mind that real estate is tightly tied to the economy. This can present some opportunities, but it can also make your life difficult.
Cash Finder System has, in my opinion, severely glossed over how difficult being a home finder can be, as well as how quickly you can burn through your valuable time and money. Scam or not, if you’re going to spend your money, and your time, learning something new… I’m not sure Cash Finder System is the one I’d trust.
My Recommendation For Making Money Online
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