Imagine having someone as your mentor who can show you how to build $50,000 in corporate profit without personal liability. To many people, this is extremely attractive because you don’t have any personal liability involved (which is hard to find) and don’t have to pay back debts. Carlton Weiss is the founder of Private Wealth Academy, whose primary purpose is to be your mentor. They have a unique selling technique. When you attend their webinar, they start by really hitting home and telling you how difficult it is to start your own business and how many of them fail. This scare tactic works because it sets you up for what they will tell you next.
Zachary, one of the members, says, “this side hustle is fantastic because you have a way to make between 20K-40K while working fewer hours, even part-time hours. And the best part is you don’t have to invest in all the expenses involved in building a business from the ground up. I forgot to mention this method will work if you have a business or not. In short, you can receive $50,000 from banks and will not be liable to pay it back because it’s NOT a personal liability. You can then use these funds to start a business or personal. Before I continue, I know you want to know a little more about Zachary and his background.
First, Zac joined the Private Wealth Academy long ago after trying several different businesses, which buried him in debt. He was looking for a way to pay back this debt and found out about this program. Not long after, Zachary was able to secure a loan from a bank for $75k. This loan he received was his, and he was NOT obligated to pay it back even if he spent every penny of it. Essentially, he could claim bankruptcy, meaning it would NOT affect his credit, which is extremely important today. Zachary says, “anyone can get a “no profit business” loan for $50K in corporate credit” But, my question now is how can you obtain this loan? Now, here is the problem
Zachary doesn’t tell you much about how you will be able to get this loan but says it could take anywhere from six (6) months which sounds strange to me. Now, he does try to sell you more by saying that after six (6) months, you can get more loans or money and that 1000 people have joined his program to leverage what he teaches. But, finally, Zac says that $50K is the bottom because some of the people in his program have been approved for as much as a quarter-million dollars to build their businesses. And the best part is that they have built their dream; if not, they are not personally liable for the loan.
Now, the catch…
You do have to pay upfront, which I DON’T like doing, just in case you get involved in a program you find hasn’t kept their end of the agreement. However, this payment is necessary to join the course and find out how to obtain these loans. Now here’s what I don’t feel right about: in training, you have a blueprint on how to screw the banks. The program shows you how to set up a fake company, apply for loans, then don’t pay back the loans, etc. I understand how the banks can be vultures, but I believe in karma, so two (2) wrongs don’t make a right. The program has modules on the following: removing personal liability, setting up corporations, ensuring you don’t get blacklisted, and the best corporate credit cards to apply for to get the most loans. Next, you have sections on how to fill in the application to get corporate loans of $250k or more, build a website, and make you look more credible as a company. All of this costs $997! Oh, they have numerous testimonials to back it up too!
Now, here’s my take on all this…
I understand that the banks have been screwing people over for a long time, but I believe in karma, so I don’t believe in screwing people over. The banks hold other people’s money, so when you take money from banks, they lend out other people’s money just like you. Suppose you do use the money and do good. That is amazing, but if you use it for the sole purpose of vacationing with no intention of paying it back, what’s not to say you will have bad luck/karma in the future? So if you want my advice, I would avoid using this program as a get-rich scheme and use it only if you plan on starting a legitimate business. But I also want to recommend another favourite program of mine… click the orange button below.
I have spent my life reviewing thousands of programs, courses and spoken to coaches worldwide to help you make the RIGHT choice when starting your business. And here’s what I’ve LEARNED and why I HATE many of the programs out there!