I’m new to RE investing and after reading so many posts about joining a REI club in the local area, I decided to give it a try. It was a bunch of crock! Now I’m not stating that all the clubs are the same, I’m just saying the one I went to was. My girlfriend and I paid $30 just to hear people yap and advertise for their buddies in their network. Not to mention after we paid, there were more than a 100 to 200 people with hardly any seats left. Have any of you ever been to a seminar? Well I have and this was no different. They have MOTIVATION speakers who tells you they were just like you and how they made it. BLAH BLAH BLAH! ANd on top of the tables were filled with Agent’s, contractor’s, lender’s and just about any other business cards to advertise to you (the beginner) which made up about 80% of the people there. I look at it this way… THis is a tough and competitive business (at least where I am at it is) and most of the people at the REI club are YOUR COMPETITION, why would they share valuable information with you? Forums like these are useful because your competition are not likely to be in the same market.
My girlfriend who’s a RE agent and I both agree REI clubs in our area was a waste of time.
Which now brings me to RE courses. I know John Michael offers a Stealth mentoring program which I have not tried but does cost a pretty penny. Anybody have any advice on that? And John, if you’re reading this, can you give all of us more of your personal input on this. I’m sure we would all like to know.
Seattle Washington. Like I’ve mentioned earlier, I’m not saying your experience will be like mine because it depends on the location. It’s just up here, the market is fierce and I felt that 200 to 300 plus members with 90% of them being newbs, I just can’t see myself gettin any personal help or mentoring.
I’m new
and watch the infomercials Carlton Sheets and Dean Grasiosi and and wonder if it’s possible to give up my job in two years…
What is the best way to locate a mentor and find a good club?
If I want to buy another home in another state, what is the best way to do this?
I appreciate any and all comments/feedback
RLS:
Purchase Ron Legrand’s Wholesale/Retail program on E-bay and John “Cash” Locke’s course on this site. It will put you on the ground floor.
I totally agree with John Michael. Education is the key! Why do you think Tiger Woods has a coach? I would highly recommend you get a mentor. But not Sheets… I would recommend a mentor like the
program that www.joeandlou.com have to offer. They are serious investors and use strategies that work in todays real world.
My advice to you is simple. Go thru the courses I recommended above. You can purchase at least one of them on this site. Join an investment club. Network with other investor’s. Then make your decision on who you should hire as a mentor or coach.
i personally think he makes his money on the literature and all that he sells. A lot of things i have heard seem very far fetched. You can buy homes without putting any money down. if you qualify you can get 100% financing and get seller conssesions for closing costs.
Basically what you do is up the purchase price for 3 -5% depending on what the bank will allow and the seller gives that percent back at closing time.
If you really want advice on how to buy investment properties hook up with a GOOD Mortgage Broker who can give you all the information you need.
Please get your facts straight before you start spreading lies. The Sheets Coaching organization is NOT in Las Vegas, and it is NOT a scam. I personally know of dozens of individuals that went through his coaching program and had a lot of success. I also know a number of their coaches and they are all seasoned investors and professionals. This is a company that has been around for years and are truly interested in helping Carleton’s students succeed. They are not a fly by night operation.
The program is like anything else, you have to work it in order for it to work. They even have a personal guarantee that as long as you hold up your end of the bargin (do your homework), they will work with you until you purchase at least one property. If this service were free would you work with a coach, a mentor who has been there before, currently invests, could show you the ropes? Or would you prefer to go it alone? It comes down to value. If you don’t believe you will get your mony’s worth out of the service, don’t sign up. But the folks that I know who went through the program made that up and then some just on their first deal.
I bought the program for a month for $9.95. I went through it within a month and i sent it back 2 weeks ago. It is much helpful to go to Barns & Nobles or Borders or something. you may buy a cup of coffee and read from different authors. i am learning a lot using this method
Hi my name is jason sarmiento i’m from sevierville tennesse
i’m also looking for a place to meet investers also looking for a meeting? do you know of any meetings in knoxville?
thanks jason
Here we go again. Please Stop dissing my man Carelton.
I have said it before. It’s not the program it’s the person. I spent $3,000 on coaching. Because of coaching, I profited well over TEN TIMES the price of the coaching course… All because of coaching. And I made that money in a year and a half, not ten years, part time.
It’s not the program, it’s the person.
Can you get the coaching info on the web for free? YES.
Will coaching hold your hand step by step through a deal? NO.
Why do some fail and some succeed?
It’s not the program. It’s the person.
They take the course but they don’t follow it. They take the course and they think they know investing.
Do they cash flow a house before they look at it? NO
Do the try to fix their credit before they try to buy? NO.
Do they follow the steps as the coaching course lays them out? NO
Most people I speak with who bomb out on the course go through the coaching and still try to do it their wrong way.
DO THEY NEED SOMEONE ELSE TO BLAME FOR THEIR FAILURE??? YES
Jeff is absolutely correct. The vast majority of REI wannabes will fail. Most will never even buy a single investment property. The fact is that many of these people will never even take the wrapper off the courses that they buy.
I recently went to a seminar. One of the speakers was selling a course for $800 and offering to re-imburse the entire $800 to anyone who purchased the course IF THEY ACTUALLY DID A DEAL WITHIN 90 DAYS!!! What this told me was that the percentage of students who actually did a deal in that time frame was infinitesimally small.
I believe as others have said that the gurus do make the majority of their money from courses, bootcamps, and coaching - not real estate. I have no problem with that. I started my REI career with the Carleton Sheets course and can tell you with 100% certainty that it contains all the information that a newbie needs to get started in real estate investing. The reason people fail is that they don’t follow the information in the course.
So, I completely agree with what Jeff said. People fail because they aren’t up to the task - not because the Carleton Sheets course is defective.
I’d also have to say that I completely disagree with what TheMortgageRx said. Obviously, TheMortgageRx doesn’t appear to be a RE Investor because he certainly doesn’t appear to understand how it works. I have personally bought many properties with NO MONEY DOWN and even gotten money back at closing from a BANK (with no seller concessions). The absolute last place that I would look for investment advice is from a Mortgage Broker!!! Unfortunately, most of the mortgage brokers that I have experience with are long on promises and low on performance. Their fees are high and far too often their abilities are low. At any rate, my experience has been that they are generally barely able to successfully arrange loans as promised, let alone dispense investment advice.
I’m sure that there are good mortgage brokers out there, I just haven’t met one yet.
Mike has a good point, and I will add Real estate agents, lawyers, and CPAs to the list along with mortgage brokers. Most of these guys don’t understand what we are trying to do. In many cases what we try to do is against their best interest. They specialize in retail real estate for owner occupants. But in any major city, there will be mortgage brokers, lawyers, CPAs, and agents that have specialized in doing investment property and understand it really well. If you can find them it is good to use them and their advice. But they tend to have limited knowledge, limited to what they have done before. You have to understand as many options as you can, because they probably will not.