Cook's "Wholesaling for Quick Cash" Did you like it? Worth the $$?

Bird Dogs, Wholesaling
1

Hello all!

I am new to the REI club, but NOT new to buying packaged info for a few hundred bucks a pop. I am ALWAYS ready to invest in my education, but I think it’s worth spending a little time finding out how others have liked a product. When I ask you if it was worth the money, I mean “did you get NEW info out of the course, or was it the same old stuff you’ve been hearing/reading over and over again”?

I do see that Steve Cook’s “Wholesaling for Quick Cash” was a best seller in July… since so many of you have purchased this product, I want to know if you have found it helpful. I am a newbie Wholesaler, who has not yet made a deal. I went through Rich Dad training (as many of you also have) but find myself doing more preparing than DOING. There is absolutely still an element of fear within me about my contracts, WHO does the due dilligance and HOW a closing will actually work. I have never purchased property before, never sat at a closing table. I hope to remedy this soon by finding a local mentor who will allow me to observe in return for some work. I just moved to my area a month ago, and my first opprotunity to network at the local Real Estate Investors Club is this evening! I’m so excited!

At any rate… coming from the perspective of someone who is new to the business, and needs further info on contracts, due dilligance and closing, would you reccomend Steve Cook’s product?

Please, I am looking for specific reccomendations on this product.

Thank you all for your comments! Have a wonderful day!
Colleen

2

I just finished going through the course and it is excellent! It’s very thorough and well worth the 300 bucks.

3

I receive Steve’s emails on a weekly basis.

The challenge I have with the information is he is teaching very basic ways of doing things in a high tech and rapidly changing world.

After reading ‘The Four Hour Work Week’ by Tim Ferriss I was convinced there was a better option than running eleven offices and stressing out 24 hours per day.

Try looking for a system where the eventual goal is not necessarily more deals each month, but a reduced workload on your part so you can more fully enjoy your life. The end result is less anxiety and less work.

Most of the systems out there teach you to build a business that becomes a 60-70hr/wk job. If you want more than $300k/yr, you find yourself glued to the phone or trapped in an office with no life to speak of. You have money, but you are prematurely aging, out of shape and in need of a good tan.

I’ve been there. When I had eleven offices in several states wholesaling properties, I almost went out of my mind. Talk about your anxiety attacks. Anyone who’s done it, knows exactly what I’m talking about.

Currently I am traveling South America for the next four months. I’m eating organically and have become a fish-a-tarian. I feel great and my business is healthy…and oh, my tan’s not too shabby either.

I had a 20 minute conversation with my broker last night who runs all of my systems while I am away.

Tread lightly, but let others do the treading for you.

Hope this helps,

Matt Gerchow
Currently In S. America for 4-Months…Next Stop…Thailand for 6-Months

4

Hi Colleen,

I have been following Steve Cook since he first got started investing…

I have his course, have attended his bootcamps, and am now being mentored by him.

I attribute most of my success to Steve and what he has taught me- both directly through his mentoring program, and indirectly through follwing his posts on his website.

His methods are not at all outdated- in fact I am having great success following his model of wholesaling REOs off the mls.

If you are looking for the latest “get rich quick without lifting a finger or doing any work” bull crap marketing scam, then Steve is probably not your guy… If you are looking for someone who teaches tried and true methods of wholesaling that have worked in the past and continue to work even in this market- then go with Steve.

Good luck,
Steph :cool

5

WHOA WHOA WHOA…

I hope I wasn’t expressing that this business is easy in any sort of way.

The dictionary definition of Simple But Not Easy: see ‘Real Estate Investing’

It is the hardest business you will ever put your arms around…but you will love it if you do it right.

I paid my dues the way everyone else did, with a hammer and a bucket of spackle.

The best money in the wholesaling business is made in less than desirable neighborhoods.

I quit going hands on because I almost had to shoot someone who tried to mug me at one of my properties.

You will learn something from every course. Fundamentals are great for the newbie looking for a base.

Investors need more than fundamentals to close deals in this crazy market.

Most courses spend a great deal of time teaching you the theory behind doing deals but lack a step-by-step, do this…then do this plan.

Hope this helps,

Matt Gerchow
Currently In S. America for 4-Months…Next Stop…Thailand for 6-Months

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Matt,

My post wasn’t directed at your course, or whatever it is that you are selling…

I just wanted to let Colleen know that the methods Steve is teaching are in no way outdated. They are working for me, and many of his other students.

Steph :cool

7

Hey Guys…

Personally been using Steve’s materials for quite awhile, with pretty tremendous success.

The fundamental approach never goes away, and lets you develop yourself into a unique, professional investor.

Matt, no disprespect to you or your material. Knowing Steve personally, I know he is just not a techie guy, and also not a marketer.

The market we have is challenging, but Steve’s goods are workin’ like a charm. I know, I was trained by him and people around me are dropping like flies.

You’re right, the business is a challenge and if you did what you look like you did, work automation processes then your product will probably be a good investment. For the ones that actually take action and follow through.

But, FH is bar none the best place to learn, fall down and learn again until you are a pro.

It’s just that I know Steve is the real deal. And he changes lives.

His passion and willingness to give sets him apart.

For the record, I know what it’s like to pack heat going to look at homes. If you have a real drive to succeed and are willing to pay the price, his is the absolute best value.

It’s a journey. Enjoy the ride and be relentless.

Jerry

8

Thank you all for your replies this far! It’s hard to understand HOW everyone means something in a text only forum, but Matt, thank you for your words. I DO think I grasp what you are going for here!

I’m actually NOT looking for a “get rich quick” or anything like that. I have patience, and am looking for a challenge. What I am really looking for is answers to some fundamental questions on wholesaling that I have not been able to obtain. What I want is a step-by-step (not ommiting ANYTHING) tutorial. I have recently moved and do not have a mentor who can help to guide me. As I mentioned before, I am TERRIFIED of contracts… I am scared that since I am a newbie, I’ll mess something up, and that wouldn’t be bad for ME- but I don’t want to mess over a home owner who DESPERATELY needs to sell. I don’t want to waste anyone’s time or money while I am on my learning curve, and THAT is what has stopped me from… well… starting.

I realize that what I REALLY need is a mentor, and I have found some programs in my area that will provide that mentorship- at a high cost. SO… given the fact that I’m not rich YET, and cannot afford this kind of assistance, I just want to know if Cook is right for me. It looks like those of you who have used his products really have enjoyed them, and put a lot of faith in his teachings. Matt, I can appreciate what you are saying too… Again, I’m just looking for step-by-step instructions, because my fear of screwing SOMEONE ELSE over is overwhelming :help. I look forward to the mistakes I make that only effect ME. If my first deal hurts someone else, won’t my name be ruined?

Again, doing a lot of preparing to be prepared. I know I need to take the plunge. Anyone who has any words of wisdom, PLEASE feel free to PM me, I am open to ANY and ALL advice!

Thank you all again for your conversation thus far! Hope you all have a wonderful weekend, and I look forward to communicating with you again in the future!!

Colleen

9

Courses teach you how money is made, not how you will make money.

Cook’s course is great for those starting out to get an idea about the business and what is involved, but you will not become a wholesaler by the time you finish reading it. You will still need to:

  1. Figure out how to write contracts, specially contract in your area (he talks about them in general from what I recall)
  2. You will have to figure out how to effectively find properties (he does talk about MLS offers)
  3. You will have to learn how to negotiate
  4. You will still need to learn how to properly evaluate properties and so forth

The course is really a more detailed book. You will learn a lot from it if you have no real estate experience.

This is one of the better courses that explains what wholesaling is about and some how to. but by no means the only course you may need.

Is it worth the money? I believe that is a personal opinion because some may think spending $100 on anything is too much and would expect to become ready to go out and make money, others don’t mind paying $1000 for something that could give them just 1 tip that would potentially increase their profits.

You have to figure out what your expectations from the course are. Are you seeking to learn what wholesaling is all about, or are you expecting a detailed, step by step, guaranteed way to become a successful wholesaler?

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I have purchased his course along with vena jones course and both were worth the money.

Too many newbie investors only pay attention to “How much does it cost”

When in reality you should be asking “How much is it costing me NOT to buy it”

In most cases “Not buying” courses is far far more expensive then buying them. I have found that when it comes to real estate investing, mistakes are very expensive, so I don’t waste my time trying to reinvent the wheel.

You can pick up some real estate wholesaling courses on ebay as well, that is where I picked up venas.

Good luck

11

Thank you Eric and Fadi for your posts.

Again, I am looking for explicit detail on how to complete the deals at this point. NOT get rich schemes or promises of fast money. I appreciate both of your comments, but I am well seasoned in purchasing these types of packages. Having bought Boot camp materials from Lindahl, Kiyosaki and Sheets, as well as attending several Rich Dad courses, I have seen a gammet of usefull and useless info.

I am past the point of needing motivation in my education, and also beyond the basic “what’s a wholesale deal” stage. Now I need the specifics, which is why I was interested in the Cook course. Fadi, you mention that you recall him only going into general detail about contracts, however, the literature on this site leads me to believe that he includes not only many useful contracts, but a CD ROM with step-by-step instruction on HOW to read/complete them. Am I wrong, or were you just speaking generally? THIS is the kind of info I am truly seeking on the package. I will edit my inital post to reflect that.

I am not afraid to spend money on my education, so I appreciate those of you urging me onward in terms of “what will it cost me NOT to buy it”, however, I concider this a “due dillegance” period. I don’t want to buy what I already know. I’m sure everyone can appreciate that.

I have not purchased property, but could be considered a “professional learner”. Again, this is why I say I need to stop preparing and start DOING. My bookshelves are full to bursting with authors I’ve read time and time again (Hill, Kiyosaki, Lindahl, Sheets, DeRoos, Lechter, Langemier, Sutton, Singer, Levitt etc etc…) and my computer is always downloading a new podcast… I’m always reading the newest articles I can from REI and my other investing groups… No one gets to the nitty gritty, and I guess that’s because it just has to be learned by DOING. lol funny that I keep looking for that one author who will bring me through “the day in the life of a wholesale” instead of just going out to get 'em on my own… but as I posted above, I am afraid to screw up SOMEONE ELSE. I am FINE with making mistakes on my own and learning from them, but I don’t want to hurt someone else on my learning curve.

Thank you again for you input, and for allowing me to clarify my goal with this thread.

C

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Like I said, I can’t recall since it has been years since I’ve read his course :slight_smile: But I do know I did not really learn the contracts till I attended local class.

One thing about contracts is to make sure they work in your state, so before you use his contracts, see if your title company would accept it.

Someone else may comment on how good his paperwork and if they use it. Keep in mind that Cook has some kind of a cult followers who will swear by him and give him their first child if he asked :slight_smile:

You can also ask him on his forum or email him directly, he is extremely helpful guy. I’ve exchanged emails with hem before… ask him your specific questions and he will answer.

Also, he sells (or has someone else?) sell older versions of his products on ebay.

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I’m one the cult followers and stop in this site once in a blue moon since I’m at Steve’s site most of the time so take this with a grain of salt.

We can sit here and talk about what course is good, bad, what they contain, what they don’t contain, blah blah blah. The bottom line…will you take action?

I bought Steve’s course almost 2 years ago. Since then I’ve done 30-35 deals, started a REIA, doing hard money, and now teaching. My point is not to brag. My point is that I took action. No matter what course you buy if you don’t take action you are wasting time, energy, and money. You’ve got a ton of courses all ready but haven’t taken any action. How would Steve’s course differ from any of the other ones you already have? Is HIS course going to make you take action?

Do I think Steve’s course is the best? Of course. Remember I’m a cult follower :biggrin And to be fair I’m sure there are other courses that are very good as well however all of this means nothing if you don’t take action.

Nate-WI

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Nate is right on, any course will show you how the money is made, not how you will make the money. Your job is to make the money.

Personally, I buy all kinds of courses because I like to know different points of view and adopt something from each. Some of them are nothing more than motivational, others detailed.

15

I think the most aggrivating thing about this whole process is how many people indicate the future knowledge that you will fail because you are asking questions rather than DOING, and that they know best because they “have done” and watched as others “do nothing”. They ask “but are you willing to take action?” It’s just like when you are deciding on a major in college, and people who don’t know you ask “what are you going to do with that?”. The reason they ask is because they have no idea who you are, how motivated you are to learn your discipline, and where you plan to go with it, so they attempt to cast doubt based on what little they know of your area of study in an attempt to “get you thinking”. VERY frustrating. :banghead

The answer is YES. I will take action- AS SOON AS MY QUESTONS ARE ANSWERED, and as you can see from this thread alone, it’s pretty hard to get questions answered! Only TWO PEOPLE even ATTEMPTED to answer my actual question.

Entering into a legal contract without knowing what you are doing is FOLLY. I’m NOT willing to do it! I’m not willing to waste someone’s time while I learn, and I’m NOT willing to smear my name in this business by doing my first deals improperly- because if I do- WHO will want to work with me afterwards??? Rushing into something legal is NEVER smart- that’s why so many people are in so much trouble now with thier mortgages. They never took the time to learn about them ON THEIR OWN, were spoon fed tidbits of info and swallowed without thinking. They also didn’t read the contracts they signed. They just were involved with a “this page says blah blah blah… sign here” transaction. I am NOT willing to conduct my business that way. I’m sure that you folks don’t either.

16

Colleen,

I’m not here to argue. But…here are the facts…

You have a book shelf full of books and looking to buy another course and you haven’t done a deal yet. You are suffering from “paralysis by analysis”. You could probably break down a deal better than me but your not writing offers. I am and that is the difference between so many investors who are successful and who are not.

Your worried about so many little things that you can’t get out of your own way. I’m glad that you joined a REIA. I’m glad that your looking for a local mentor. All great steps.

But…somewhere in all of those courses you have there has to be an explanation about contracts. What did Rich Dad teach you? Anything about contracts for all that money? UGGGGHHHHHh! God I hope they did.

You cannot simulate a closing or being at a title company or even being involved in a deal. You just have to DO IT. I could tell you exactly what to expect and the exact opposite could happen cause each deal is different and has its own twists and turns. If this contract is bothering you go to a local title company (or lawyer) and get the state certified contract and that’s it. All set. Now you can go make offers galore and you know your dealing with a state legit contract.

In your previous posts YOU have even said its time to start “doing” rather not doing anything. Time to get going, stop making excuses, and start learning. Don’t take this post the wrong way or take it personally. You have the knowledge. Now go do it,

Nate-WI

17

Colleen,

If you are still uncertain about putting something under contract, then why not try bird-dogging to another investor until you feel more comfortable? That is a great, low-risk way to get your feet wet.

Also, like Nate mentioned- if you are worried about paperwork, get your hands on a state certified contract, and just use that.

If you are still confused about the mechanics of wholesaling, then I would recommend purchasing Steve’s course (I’ve also heard that Vena Jones has a good one), and read it over as many times as it takes to sink in…

There is no course that I know of that is going to get rid of the fear and uncertainty you have over doing your first deal. That is up to you to overcome, and no matter how much you educate yourself, that fear will always be there until you get the first one out of your way… and then it gets much, much easier.

Good luck,

Steph :cool

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Collean - I agree with Steph’s comment. I have been studing and learning about real estate for sometime now. I started 2 years ago - sent some letters/postcards and when I got a potential deal I did not know what to do next. I never called the buy back… then I decided to get serious and went to get my real estate license. I got it and became an active agent 2 1/2 months ago. I joined my local REIA and I am going to as many meetings I can find. Trying to network and learn from others. I posted elsewhere some of my experiences with those. Last week I found 4 potential deals - it took me almost a week to write the offer. When I called the listing agent to tell her I was planning to submit the offer, she told me that the seller had already accepted another offer. I learned my lesson. This past Saturday I found 4 potential properties. Sunday afternoon I wrote my first offer (took me 3-4 hours) and I sent it by email. After I submitted my first offer, I also wrote and submitted the other 3 offers (it took my another 2 hours to do all 3… :O). So in short, your first offer will probably be the most difficult one. Once you do that, you will feel much more comfortable.

I hope this helps. Good luck!

19

Hello fellow investor,

There are some RE millionaires that have a database of contracts in all 50 states such as Ron LeGrands FFN group’s site, Robert Allens Mastery Programs, Marco Rubel’s Automated program just to name a few. Yes, it costs money. Yes, there is mentoring available. Taking ACTION while mentoring through any one of these programs will definately get you closer to success. Local title companies can help as well. Good Luck! Brian. Great Coffee 4U.

20

Colleen,

Others have already said it, so I won’t hammer the point, but you’re far beyond buying another course. You already have the information you need, you just need to put it together in a way that works for you.

As already stated, there is NO course that is going to tell you how a closing is, or should go because simply put, there are too many variables in a closing to do that.

I’ll go one step further, you don’t need a mentor. I repeat, you DO NOT need a mentor. What is a mentor going to teach you that you haven’t already read/learned about at this stage? Nothing.

I say that what you’re really wanting in a mentor is a safety net. A person that either a) is going to help through the deal so you don’t fail or b) a coach that is going to encourage you to get started.

A real mentor will do neither of these. A real mentor will be there to help you through a deal that YOU provide (for a fee), so you already have to be encouraged (self).

Attornies are there for the contracts (as well as RE agents) and to help you through the process. Use them and move forward.

Raj