A Possible Scam, Despite their 2x Money Back Guarantee.

by ragnarkar 7 replies
I watched a webinar today on some guy with a system to make money buying and reselling books off of Amazon, Half.com, etc. and it all seems pretty logical. He created a course and software that comes out to about $1000 a piece and about $100/mo for access to updates and their mastermind community. The clicker? If you follow his system exactly and don't make 2x the amount you paid, he'll refund you 2x what you paid (so about $2200.)

I didn't buy the system of course but I do see a real opportunity here (the mispricings in the online book market.) After thinking about why this guy would give away his system, I kind of have a theory now. He probably can make bank using his fancy software to scan the web for cheap books and resell them for higher prices (esp via Amazon's exchange program which guarantees a payout via gift cards.) It's probably a ton of work to do this, and you won't know this until you buy his system. Then when you buy it, you probably realize you'll need to pull 50+ hour work weeks just to make $2200 or more in 2 months. By then, it's too late to ask for a refund unless you follow the system and sacrifice nearly all of your free time in doing so. You'll probably get paid the equivalent of less than minimum wage using his system.

Does this sound like a new wave of "scams" coming around these days? Legally speaking, this product isn't a scam since it delivers, but you probably need to put in a ridiculous amount of time to get it working that your eventual payout is essentially below minimum wage.
#internet marketing product reviews & ratings #back #guarantee #money #scam
Avatar of Unregistered
  • Profile picture of the author sparrow
    is this the arbitrage scheme that you get paid in gift cards from Amazon?

    if it is then it is a scam in my opinion
    we all want cash and you need to somehow cash those cards in for the least amount of expenses

    if this is the same course it just got crowded very fast give it some time for people to fail and then look into this in more detail

    I found many providers of the same arbitrage for much less money for similar software and course
    {{ DiscussionBoard.errors[11097997].message }}
  • Profile picture of the author Gary Chapple
    I think I know the one you mean, especially if there is a Lamborghini in the background. I did a test trying to find differentials in the textbook market. Even with software it wouls still take a few hours and the margins are so small as to really not make it worthwhile. Then you have to trade the gift card as well.
    Best stay clear would be my advice.
    {{ DiscussionBoard.errors[11098011].message }}
  • Profile picture of the author Doan Chi Tin
    Software.... I've seen a lot of promising software on the internet and just dont understand why people always purchase....
    {{ DiscussionBoard.errors[11098941].message }}
  • Profile picture of the author rbates
    Good for you for not falling for this crap.

    The people who buy this do not take the time to think
    about the big picture - time involved, pricing, etc.

    Is it any wonder that IM'ers in general are not trusted?
    {{ DiscussionBoard.errors[11131815].message }}
  • Profile picture of the author PeterComeau
    Yeah, I watched this presentation too. The Lamborghini in the background is to appeal to the get rich quick prospects of course.

    You're right in that what you always have to ask yourself when watching webinars like this is why, if the guy is making so much money doing this, is he giving the method to you?

    The answer, in this case, is that it is just too much work.

    So, he's probably put the work into his system to show you the results you can get (and probably paid a lot of outworkers to scale the results up significantly) but they're not real if you're trying to do this on a part-time basis.

    The profit margins on this type of arbitrage are usually small and sales are risky so, IMO, it's not worth the bother.
    {{ DiscussionBoard.errors[11137397].message }}
  • Profile picture of the author rbates
    Yes I also saw it.

    What they don't mention is that you must follow
    their process EXACTLY.

    I clicked through to see what their criteria was,
    and one of the thing that you had to do was to
    have a 3 hour interval in between searches.

    This would really put a lot of people at a
    disadvantage as you are suppose to do
    this for 2 (3?) weeks. What happens when
    you need to do something with your family,
    and can't get in that second session?

    Well, sorry, you just lost your discount.

    Now instead of $1,000, you owe us $3,000!
    Oh, the monthly fee also went up. It was
    $100, but it tripled too. Next time
    follow the rules!

    So it goes. Garbage!
    {{ DiscussionBoard.errors[11152407].message }}
Avatar of Unregistered

Trending Topics

  • 3 {{ upvoteCount | shortNum }}

    5 Articles you need to read this Week About Internet Marketing

    Hey Warriors... welcome to a new week at the Warrior Forum We have some epic articles this week.... and we are super excited with the quality of the content. If ... [read more]

  • 120 {{ upvoteCount | shortNum }}

    Warriors .... Warriors.... what would you like to LEARN?

    Good Morning awesome Warriors... I'm happy to announce that The Warrior Forum is planning to create our first COURSE. Yes... Powered by Warrior Wisdom... yeah!! Made at home. But before ... [read more]

  • 99 {{ upvoteCount | shortNum }}

    How I Sold 985 Copies of an Affiliate Offer in 5 Days (Step by Step)

    When I first started online in 2002, it took me a year to sell 985 copies of anything. These days, I can typically do it in the span of a ... [read more]

  • 1 {{ upvoteCount | shortNum }}

    Ad network where I can precisely choose the ad topic / category

    mikka72 in Ad Networks

    Hi warriors, I am building a website on which it is crucial that I can control which ads appear where. I want very precise control over the category of the ... [read more]

  • 56 {{ upvoteCount | shortNum }}

    1 Billion Dollar - Really ???

    Hey Warriors: Lets' assume you have "1 Billion Dollar" in your bank account. What would you do with this money ? Curious to know your views Cheers, Steve