Negative SEO works so well that I imagine I could take out the most well constructed campaigns for less than $3 right now (personal experience and recent tests).
Doesn't always work- like anything, there are exceptions. Like sites with age, strong BL profiles etc. A $3 fiverr gig will not take down a 15 y.o. authority site..
I have seen websites get 100,000+ links in a matter of 2 weeks with the wrong kind of anchor text and guess what, those websites never dropped in rankings.
I do think its possible but you may just be wasting your own time.
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