Multi Level Marketing, worse than Rent-A-Center?

[glhs837]

http://ethanvanderbuilt.com/unsupportive-spouse-video/


So, while researching our prospective Mother of the Year, I see the landlord is into a thing called 5Lynx...... hmm, says I "I wonder what that is?". Now, I know the drill on "home based businesses" like Amway etcetera. And maybe I'm slow, but I hadn't realized what a pervasive thing this industry, what I would call the "Business opportunity industry" is. At least with RAC and other rent to own places, who rent you a $1200 TV at $50 a month for a total cost of $3000 dollars, you have the thing, the couch, or TV, whatever. The MLM industry, you end up with nothing.

Sad, really that the folks with the money to set up such crap dont find better ways to make a living rather than suck dollars out of people who dont have it to spare by selling them false hope.

 

[MMDad]

Sad, really that the folks with the money to set up such crap dont find better ways to make a living rather than suck dollars out of people who dont have it to spare by selling them false hope.

You mean like the state and the lottery? Or the casinos?

 

[glhs837]

At least those folks publish the odds of winning. Well, the lottery anyway. And the casinos do say your gambling right up front

 

[blazinlow89]

Had a co-worker who got involved with the 5Linx thing a couple years ago. He asked me to look into it so I would join him, I had no intentions, but figured I would at least look at it so i could mess with him. After only a few minutes of research I could see that the group was nothing more than a MLM. Reading through the PDF files and looking at the "product" they sold made it even clearer. They have more material on how you can make money by getting people to sign up, charts showing income based on number of subsequent people that are "under" yourself. Then they show the success videos, which make it very enticing, with free trips, nice cars, nice homes. As for the products they sold, most of them seem like a scam in itself. They did sell 2 actual products, a $200 tablet that wasn't worth a damn, and a home security system. Based on several reviews, and "success" stories it seems that group preys on large groups like churches.

I know that there are other things Like Avon, Scentsy, Pink Zebra, etc that focus on selling a product. 5linx main focus was getting as many people to join and pay the signup fees and material purchase fees.

 

[Monello]

Florida has many car title loan establishments. Many are found close to military bases. They provide loans with astronomical interest rates. Now most sane people will look at that deal and say "No Way". But for a small portion of the population this option seems reasonable. I think most times the people that can least afford to pay the high interest rates are the ones utilizing these places.

So it's people making poor financial choices that leave them in worse shape than before. A sort of economic Darwin effect. Born poor, raised poor, live poor, die poor.

 

[Merlin99]

Florida has many car title loan establishments. Many are found close to military bases. They provide loans with astronomical interest rates. Now most sane people will look at that deal and say "No Way". But for a small portion of the population this option seems reasonable. I think most times the people that can least afford to pay the high interest rates are the ones utilizing these places.

So it's people making poor financial choices that leave them in worse shape than before. A sort of economic Darwin effect. Born poor, raised poor, live poor, die poor.

Most states have defined what the high end of the interest rates can be, so they moved the businesses onto Indian reservations to bypass the state regulators.

 

[blazinlow89]

Most states have defined what the high end of the interest rates can be, so they moved the businesses onto Indian reservations to bypass the state regulators.

Did the math one night, the western sky or whatever one with the $10k loan, ended up being close to $90k when paid off.

 

[glhs837]

I think Western Sky has been shut down already. That one sounded nuts all right.

 

[czygvtwkr]

I think Western Sky has been shut down already. That one sounded nuts all right.

The chick in the commercial was incredible though.

 

[Monello]

The chick in the commercial was incredible though.

But she never blinks. Creepy.