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

9 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.
#back #guarantee #money #scam
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  • 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
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  • 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.
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    • Profile picture of the author sparrow
      yea the webinar with the Lamborghini in the background
      that's the one

      great concept if you could only get paid in cash

      I know a girl making a killing selling used books, but she gets cash

      she's not doing arbitrage like this course promotes
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  • 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....
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  • 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?
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  • 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.
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  • 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!
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  • Profile picture of the author richardgf
    Just watched the latest seminar. Thanks for your input. I almost jumped in 100%. Time required was a great
    input for my decision not to move forward. Thanks again.
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  • Profile picture of the author leesclub
    I joined. They actually have 2 ways of earning. Yes, one is the trading program where you get gift cards. You will have to invest money in purchasing the books at first. Once you have enough gift card money you use that to purchase more books and continue to build up your gift card balance. Then you can start using their 2nd program which buys books and resells them in Amazon's selling program. The software can tell you which books will sell and which won't. So you pick winners and purchase a book with your gift card money and resell it for a profit. Most of the posters on here don't know jack what they're talking about. Small margins? Today I purchased 2 books for around $73 using their software and traded both in for around $121. Making close to a $100 in profit. Yes, it's gift cards, but you use the gift card money to purchase books you know will resell on Amazon and that's where you will make cash. Depending on how much you have to initially invest will depend how fast you can really start making serious money. There our members of the program making a $1k a day. It will probably take me 4 or 5 months to start making $100 a day. But in this program the more you make, the more you can make. So in a year or so $1k a day maybe possible. So don't listen to the naysayers they will keep you poor. Lee
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