John Comuda "system"

[jhd815]

Hi everyone,

This week while listening to the car radio, I heard a commercial for a 'debt free system by John Comuda' (not sure if I'm spelling the last name correctly or not).

The ad was a pitch to send you a tape that will teach you how to pay off your 30 yr mortgage in 2 yrs, get out of debt, etc all on the money you are making now.

I was wondering if anyone has heard of this "system" and has any opinions or insight about it? any ideas what it is? any experience with it?

Thanks - I look forward to your posts.

[sweeps]

John Cummuta. I looked at his web site. It appears he's charging you for advice like this:

Example: $2,000 credit card balance; $50 min. payment; 18% interest rate.

Applying an additional $50 a month to this debt pays it off in 24 months and you would save $1,985 in interest. You would need to get a 49.5% equivalent rate of return on an investment in order to generate the same $1,985 in 24 months with just a $50 a month investment.

If you applied $100 additional to the same debt, it would be paid off in 15 months and you would save $2,268. This is a 67.9% equivalent rate of return!

Other than the rate-of-return baloney, this is stuff most people already know.

[terry1156]

I agree with Sweepsplayer. You probably already know everything already and if you don't, there is no reason to pay for that information when you can get it all here for free.

[jhd815]

No, I wasn't thinking of buying it, I just wondered if anyone knew what the "system" was about or knew anything more about it.

thanks!

[jmjj215]

The ad was a pitch to send you a tape that will teach you how to pay off your 30 yr mortgage in 2 yrs, get out of debt, etc all on the money you are making now.

That's a big assumption for him to make. Dave Ramsey does what he does hands-on and is not nearly as optimistic with his success numbers. Most mortgages are carried less than five years. That would mean he's telling you that you can pay 25 years worth of payments in two years - right. He must cater to a very high-income population with very little mortgage.

[jmjj215]

Holy smokes - he sells his system for $297. What a rip off.

[jhd815]

Well there you go! If I could sell a "system" for $297 a crack, I'd be able to pay off my mortgage in two years no problem too !

[jmjj215]

Oh, THAT'S his strategy! "Sell 1000 of these kits and I'll give you a 50% cut, that means you'll have $143k to pay off your consumer debt and mortgage!" In the meantime, he's moving to Maui

Where do I sign?

[jeffrey]

hmmm, $297 a pop. Maybe I should start the Jeffrey Strain "system"...

[baselle]

Yeah, its exactly the technique I use for any TV financial head aka Jim Cramer.

Are you making money on your investments or are you making money going on TV and talking about your investments?

[genchan]

has anyone every purchased one of these systems? Not necessarily this one, but any of this type and been satisfied with it? Or is it all the information that can be found on sites like this?

[jmjj215]

Baselle hit the nail on the head there - at least concerning real estate "systems" and investing "systems". As a mater of fact, any money-making "system" being sold by some guy is probably really only making money for him.

[peergroup]

I know everyone has posted replies a couple of years ago, but I was actually looking for info on this guy and this site popped up. If this "system" is so great, why is it every time I hear the commercial, the phone number is different? Are you hiding, John, or do the Cayman Islands require changing numbers constantly?