It’s called “experience theorist”. The NR game comes here every few months. Same thing every time. Plenty of forum regulars have seen the NR game played many times.
Or you could learn how to birddog by taking the classes without waiting six months and giving up 30% of your deal. We went over this, it’s just a matter of where you want to spend your money, but you’re going to spend either way. BTW, you make it seem as if once you become a member you HAVE to buy your properties through the IC; you can still do your own deals, the IC is more so for buy/hold strategists anyway, rather than wholesalers, so you shouldn’t be looking for 30% equity position on there, especially since ALL of the due diligence has been done, the rehabbing, finding the tenants, and providing the documentation to prove all of it. I mean come on if you were a rehabber or bulk-buy wholesaler would you be giving away such fine product at 70 cents on the dollar? A lot of the new development stuff they aren’t getting at 60 - 70% either, how do I know? Because I’m working with one of the developers where they are getting some properties and the deal is sweet, but not that sweet; it’s actually sweeter for the investor than it is for us (no closing costs, cash back at closing, etc.).
Well, I’m sorry to hear about that; but just try to keep in mind that everyone you come in contact with isn’t a scam artist. I really would encourage everyone who seems to think NR is a bunch of crap to start talking to people who are actually part of NR to get their opinions. Does it not make sense that if NR is sooooo bad that you should be able to find someone who thinks they got ripped off? Someone who thought the education was crap? Someone who thinks it’s nothing more than a stupid MLM? All of the negative press so far comes from people with little or no knowledge of the program itself, only what they may have heard from someone else who also isn’t involved or may have went to a presentation which only gives a brief overview of the program. Again, people if out of the thousands of people who are a member of NR NOBODY or very few people have something negative to say about it; that’s called a clue.
one of my friends girlfriends paid 20% more than FMV for a has she bought from them. it sat vacant for around 6 months - wouldn’t rent - wouldn’t sell, she ended up moving into it while she tried to sell it.
and it was about 1500 miles away!
for 16k, i bought a house with 20% down in december and i’m renting
it out![and its 2,500 miles away!]
with that sort of money, you buy appreciating assets, not a set of books!
If you are so NR involved how much have they sold this year in Real Estate? I heard they have done 6 million is that correct?
By the way let me add this in…
Ron- Good guy great investor former NR client bought two houses from them both the wonderful “new development stuff” you are talking about. Because he got the “Investors Discount” which is also the “First time homebuyers disocunt” and the “Good credit discount” call it what ever you want it is nothing more then a builders incentive. And is open to anyone that wants to buy the house. Well long story short he came to me asking for help. I told him what to do and he got rid of both of the properties.
Darcie- Spent the 16k and bought a house in Utah. The house still sits vacant 5 months later. She now to date has bought 3 houses off of me and has made over 70k this year on those three NON NR deals. So the NR deal cost her 16,000.00 to get stuck with it. Not to mention she got a really bad mortgage rate through there wonderful finance department. And she will tell you the only thing keeping here going is the deals here…
So the question lies…
Do they push the NR product? NO
Have I been to the meetings? YES
Would I buy in? NO WAY
It might be a deal for a rookie investor! But that is exaclty what you would have to be. So if you have 16k in your account and want to spend it on something that might help by all means do it. If you really want to get involved in REI stay right here on this site and ask questions.
Good to know, but unfortunately HEARSAY. Where is your girlfriend? Questions i would want to ask her would be was it a property on the IC or a property from someone in the community (there’s a big difference)? Did she not look at the documentation that was provided on the website (appraisals, comps, etc.)? Did she actually use the recommended property management or try to do it herself or use someone “cheaper”? Like I said, stories or opinions from people who are not it or once in, are not really of as much value as from the horses mouth.
Actually, looking back through a lot of my records, the $16k I quoted WAS for almost everything. I was thinking the $4k/yr tuition I was paying at the university was for ALL 3.5 years, but it was only for the last 1.5 years.
Q: What EXACTLY did you get for your $16k? And are YOU the rule rather than the exception to one of their “students”?
By involved, do you mean at the corporate office? I have no idea how much they’ve sold in real estate. The reason though I say get the opinion from someone who is involved is not so you can learn all the “fun-facts” about the company, that’s stuff you can find out without talking to me, it’s so you can see how they felt about the money they spent and why they decided to join. See, I didn’t join for the properties, some people do. I can find deals already, I just didn’t know what to do with them. Moving on, I joined for three reasons: NUMBER ONE, networking, I’m a mortgage professional and just by going to the college I got two new clients (paid for my $16GRAND btw); NUMBER TWO, education, I’m 21 years old and didn’t know squat about squat so I needed to learn (tax strategies and IRA investing made me more money); NUMBER THREE, the marketing, over $500 Billion dollars was spent last year on RE education, somebody’s buying this stuff somewhere so it only makes sense to capitalize on it (I haven’t made any money marketing, because it’s not my primary focus, but the opportunity is there).
btw… There’s no such thing as a bad mortgage, just an uninformed borrower… Could that be the result of a bad mortgage professional? Perhaps, but it’s not the mortgage’s fault, it is not a moving, living thing and has no control over it’s disposition; nevertheless it is all of our responsibility to know what it is we’re signing. Should we be able to trust our mortgage professionals, absolutely! Should we rely on the fact that we always can, HECK NO! It’s so easy to get started doing loans everyone and their nephew is getting in; you better make it your mission to dig into the heart of your MP and get to know what he’s doing so you don’t get taken… ok, I’m off my soap box now.
Folks, it’s just like a traditional college; does anyone know the statistics on how many people who start actually finsih? Whatever it is, I’m sure it’s pretty low. It’s just like everything in life 3% of people do what 97% of people are not willing to do. Whether it’s pay attention in class, apply the knowledge we’ve attained from seminars and boot camps, or simply find a way to make something work rather that just saying it doesn’t. All in all, most people are not performing at their full-potential. So, to answer your question, what did I get for my $16k read above, am I the rule or the exception, well 80% of NR students own property within 60 days of joining, and 85% buy the $16k package.
O.K. Right now it is JULY 2006 come back in JULY 2007 and tell us if you still think it is great.
LOL, will do! Hopefully by then I won’t have to tell you, but you’ll already know. 
JLMarshall,
Stop trying to network properties in the Discussion Forums. You can’t tell us all about the wonderful properties that you can’t handle and offer to give/sell/barter to others. I’ve told you 3 times now to read the Forum Rules and you either:
(1) Haven’t bothered to read them
(2) Do not comprehend the ‘written word’
(3) Chose to break the rules on purpose
Which is it…??
I could get my fill of you real easy. Maybe you need to be called out publically…?
STOP MARKETING IN THE DISCUSSION AREA!!!
Keith - Moderator
Maybe I am mising the big picture. See my thing is I already get to much to handle and want to retire after all I am 31 and can’t work forever ya know!
You were right this time. I did unfortunately violate a rule; unintentionally. The last two times however, unless there is an invisible rule that I cannot see I was in violation of nothing more than getting on your dogged-on nerves.
<< The last two times however, unless there is an invisible rule that I cannot see I was in violation of nothing more than getting on your dogged-on nerves. >>
No they weren’t – that is a lie. The first was blantant advertising for Nouveau Riche which had to be modified just to make it even close to being within the rules and the other was about 10 advertisements for your own personal website that you tried to disguise as “try this site that I use” crap about prepaid legal…or did you conveniently forget that part??
Stop pissing an moaning and keep to real estate.
Keith
Uh, a thread was started about NR, that’s advertisement in itself, it needs no help from me. I do use Pre-Paid Legal, and the posts I responded to were asking for referrals, which by the way is a violation of the rules, but I see you omitted that minor detail, all you care about is pestering me every chance you get. Whether I posted the name and contact info of a specific attorney or pre-paid legal, you would’ve have had something to say about it. I understand that you have a lot of time on your hands; but you are being quite ridiculous. Basically, I am unable to make any suggestion on anything without being viewed as advertising or spamming in your eyes. It’s very much so antagonistic, if someone asks where should I look for such and such, and I happen to be a place to look for such and such, is it wrong to say look here. Whatever, I’m done dealing with this ignorance; I think I’ll just log-off everytime you log-on.
… 85% buy the $16k package.
Huh? I thought that’s what the whole discussion was about.
All I’m saying is that I paid somewhere around $16k for a 4yr education. The “investment” has more than paid for itself. I’ve spent <$1k for my REI education, and the rewards again more than paid for itself. I’m just wondering why someone feels they need to spend $16k to get “educated” in REI as it seems like an awfully hefty “investment”, that’s all.
It’s hard to explain without sounding like a brochure so I won’t. I would love to explain why I thought it made sense, but I can’t here. Bottom line is everybody doesn’t NEED to spend $16k on their education, could everybody benefit from it, you bet. There are other alternatives aside from that package, but everyone focuses on that one.
I tried to handle this with you out of the forums but you just drag it back in here, so:
Let’s see:
(1) The last part of your e-mail address is “@jlmfederalcorporation.com”…meaning that YOU have an e-mail address off of their network…you are therefore part of their organization – right?
(2) Your initials are “JLM” and their initials are “JLM” – just coincidence – right? (I don’t think so).
(3) If you go to that website, it is the very "Pre-paid Legal Service that you were espousing – right?
Like I said when I first busted you on the NR advertising —> this ain’t my first rodeo and I didn’t just fall off of the pumpkin truck.
My public advice: just get over it, drop it, let it go, stick to the REI stuyff…your position is a “loser”…and the pissing and moaning is just gonna be deleted because it’s not RE related.
Trust me on this one: I have my limits and you are crowding closely against them…
There are currently 15,521 members on this site…there are 4 or 5 that are serial rule breakers. If you keep insisting that you’re going to break the rules and that there will be no repercussions, you are sadly mistaken. I don’t make the rules, but I do enforce them. The amount of flexibility that is afforded an individual has is directly proportional to his length of time here, his value-added to the greater population, and how hard he pushes back when asked to stop (especially in the open Forum)…have it your way. It can be easy or it can be very difficult. Trying to embarass other members in your open forum notes is not good judgement.
Keith