Newbie...Need Help!..Is this company for real?

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Ok...so I saw this ad in Craigslist yesterday:

[i]Invest your CREDIT and make 30k- - No $ Req'd RE

If your looking for a great investment, and you have a 700 Fico or above
you can work directly with builders and earn 30k min a few months.

Credit Participation most times requires no out of pocket money.
If you are interested in earning money by using you good credit, I will show you how easy it is!.

Drop me an email and tell us a little about yourself: [email protected]

$1000 REFERRAL FEE!! [/i]

I emailed for more info, and talked to a guy in Dallas, TX and he emailed me some info saying that I can make $20,000 in the next 30 days with no money upfront. He says there website is not up yet but he did provide me with a link of what it looks like: http://www.tddesignsllc.com/BannerBusiness/10/html/index.html
I've looked everywhere and cannot find any info on this business. Here is the word doc. that he forwarded me for how the process would work:

[i]BANNER BUSINESS SOLUTIONS LLC
1401 Elm Street Suite 4737, Dallas TX 75202

Chief Operations Officer: Dwight Dilworth
President of Marketing: Otis Tucker 214-213-7868

PROCESS FOR INVESTMENT PROPERTY

Locate property that meets investment requirements. The homes (single family residence, townhouse, condos etc…) selected for this program are in good to excellent condition, in nice neighborhoods and usually do not require rehab.

Qualify Credit Partner. The investor loan to the credit partner can be a full doc or stated loan. Minimum credit score is 680 for full documentation or stated income loans.

The credit partner needs some verifiable liquid or semi-liquid assets for reserves.

Although these are not needed for the deal to close, they are reviewed for verification use only (bank deposits, stocks, bonds, mutual funds, retirement accounts, cash value of insurance or other).

The credit partners, if classified as “seasoned investors” can often participate in up to ten or more transactions per year.

A seasoned investor is defined as one who has owned a minimum of one investment property within the last 24 months (presently or sometime in the past).

Under present rapid acquisitions rules, new real estate investors (non-seasoned) may acquire two non-owner occupied (investment properties for each of the first two years using financing from one lender.

Using multiple lenders multiplies your opportunity to do more than two transactions per year, even as a non-seasoned real estate investor.

Benefits for Credit Partner:

Investment fully secured by reserves up to 6 months.

Our unique and successful system creates a market niche even in our competitive market.

There is no management cost and we pay 100% of all maintenance and repair cost.

No foreclosure Equity build up allows us to market property to be sold at a rapid pace.

Great income opportunity: Profit within 5-30 days, depending on partner’s participation. Credit Partners does not have down payment requirements when buying the property (but are merely using the new partner’s good credit).

1. They buy, we “resell” the home with our unique financing system in place to a buyer or investor. Our goal is to help anyone acquire his or her own home, with every applicant always being approved, regardless of credit, under our Home Acquisition Program which allows us to rapidly move our product.

2. Order Appraisal. We cover the appraisal fee.

3. The Earnest Money is deposited directly to the closing agent or bank, of which we will be responsible for unless other specifications concerning investment position are required.

4. Order Title:
Title Policy is ordered at the time of approval, and will close at Title Company specified by seller or company instructions.

5. Closing
Deal transactions are funded at closing, or in some cases it may take up to 48 hours.

Risk Factor:
We minimize the risk of our partners by our reserve account.

We can ultimately eliminate risk by creating a land trust on purchase properties.

The Land Trust is a legal entity, therefore it can assume a loan, create seller carry back financing, etc.

The Land Trust takes title to the property; the Trustee signs the note as Trustee.

The Beneficiary(s) name does not appear anywhere on the document, therefore the Beneficiary(s) is not personally liable.

When the Trustee signs the document " as Trustee " the Trustee is not liable.

Beneficial Interest -- When the property is transferred, the "Beneficial Interest" is assigned, therefore nothing changes at the courthouse, and the Beneficiary(s) and the Trustee sign a document called “Assignment of Beneficial Interest”.

In the Land Trust, the Beneficial Interest is not an interest in real estate, therefore a judgment against you personally will not automatically attach to your properties. This allows you to move your properties using the Land Trust procedures.

Transferability of Title:
Holding your properties in a Land Trust creates one of the greatest benefits, and that is to Easily Transfer your interest.

A Beneficial Interest under the Land Trust is considered to be Personality, not Realty, therefore a Transfer of Interest need not be witnessed or notarized.

Transfer of Beneficial Interest -- In most real estate transactions, the closing can be very complicated and time consuming.

Not so with the transfer of a beneficial interest in a land trust.

It is as simple as transferring your stock certificates in your corporation - no closing costs, no documentary stamps, no recording fees.

Owners Flexibility:
When you hold properties in a Land Trust, it makes it easy to have multiple owners. In a Land Trust the only signature that is required is that of the Trustee.

Limited Liability:
As the beneficiary of the trust, you could avoid personal liability for a mortgage. In some cases, liability can be restricted to the actual property, which enables you to safeguard other assets.

Reduced Probate:
Through a land trust, you can arrange for real estate holdings to be distributed as requested to your heirs, avoiding the time consuming and costly complications that can arise from a probate proceeding.

Reduced Risk:
Judgments and tax liens against a beneficiary do not attach to property in trust. Death, incapacity, and divorce of one of the owners will not necessarily affect the ability to sell, mortgage, or otherwise deal with the real estate. Also, one owner cannot compel the property to be partitioned among all owners. [/i]

This sounds too easy...what are the downsides of something like this? Is this legal and legit? And if it is...what are my risks involved? Please help!!! It sounds too good to be true but yet it seems so easy and there is no money upfront...

THANKS IN ADVANCE FOR ADVICE!!!! :D