Has anyone used the Naked Investor Mentor program?
He asks for $1685 and offers a refund after the first deal. I am assuming he takes a portion of the deals you make while he mentors you and simply takes the 1685 out of your first deal… Does anyone have any experience with this?
Should I consider a route like this or simply study, roll-up my sleeves and learn through my own experiences.
thanks, look forward to your guys feedback.
Hi,
Why do you think the investor is naked??? Because he hasn't been making money mentoring!!! lol
I just couldn’t help myself! :biggrin
Ok, I won’t quit my day job!
First and foremost learn through acquiring and reading everything you can about investing, methods, laws, types of property, financing, estimating, etc.
Then look at starting with simple transactions like assignments, it is one of the easiest and less costly methods to make money with very little out of pocket!
But save your money or you might be the next “Naked Investor”!!!
GR
Michael was my mentor a few years back. The program worked for me as it gave me my start in real estate. So I’d recommend him. Of course, your mileage may vary, depending upon your effort.
I take it GoldRiver has no clue about MC or his forum or what MC brings to the table.
MC wrote a very good basic manual on LO’s that got me started 8 years ago, and I now own the largest LO company in Texas.
Any other comments GR?
Bring em on…doubt me? go to my website…the proof is in the pudding GR…
$97 for his manual…I make a very nice 6 figure income, fly a plane just for the hell of it to go eat lunch, go to Hawaii for 10 days, go on a cruise for 7 days, don’t have to answer to anyone and control my life… …was the $97 worth it?
You tell me GR…what kind of plane do you fly when you want to go eat barbque?
That’s what I thought…
Hi,
I guess some of my fellow investors are a little high strung? I enjoy having a little sense of humor and by no means ever disrespected anyone! But if you can not take a little joke every once in a while life gets boring!
I don’t have anything against other investors and other investors teaching, however I do not like the investor who takes peoples money, overcharges them and then kind of beats around the bush in hopes of upselling them to the next “Education Level”!
Most mentoring programs take the students money and barely return anywhere close to the equivelent in time and effort to help the student, and over the last 31 years I have seen countless students “Ripped off” paying for educational seminars, educational packages and educational mentoring for real estate!
Your right I have no idea who Michael Carbonare is, I have never met him and have never been to any of his classes, but I am sure he’s a nice enough guy and hopefully has a little more sense of humor than you do!
I started investing in 1979 / 1980, I had a mother who was a broker and a father who was a real estate developer, both parents encouraged me at that time to get all the education I could get, so while attending college I started investing in real estate, working part time and trying to go to all the real estate seminars, programs, educational events, and buying packages!
But back in those days Russ Whitney was just starting out, and the educational Guru’s of my day were John Beck, Ed Beckley, Robert Allen, Dave Del Dotto, Bob Bruss, John Beck, Jim Banks, Larry Burkett, George Coats, Peter Conti, Wade Cook, Richard Epley, David Finkel, Richard Gardner, Marc Garrison, Bill Green, Tyler Hicks, Tony Hoffman, Joe Land, Al Lowry, William McCorkle, Mike & Irene Milan, Jimmy Napier, Bill Nickerson, Richard Powelson, Jon Richards, Carlton Sheets, Robert Shemin, Milt Tanzer and Ted Thomas! (1980’s and 1990’s)
Pilot my friend I have been very blessed as I started a mining company over 11 years ago and have diversified into home building, development, portfolio holdings, mining services and venture capital.
My businesses make over $200m a year and thanks to the price of gold we are averaging about a 400% profit. I do not necessarily want huge personal income feeling gratifide to obtain ownership in a series of trust’s and corporate interests.
I have two plane’s a fractional ownership in a business fitted Boeing 757 (LA to NY roundtrip about $105k in gross cost), and I own a Learjet outright!
I am willing to concede you win pilot as I don’t think my life is a contest!
GR
Well GR, I guess you win on the plane aspect. Fly that b#$th to TX and let’s go for a whirl!
I just got off the phone with a seller that made me want to slit my wrist (1 hour of my life gone…seriously…) when I read your post , so I actually wanted to go back and edit it but you read it before I could… so I officially apologize to you and everyone who reads it.
I am with you and anyone that knows me knows that I am Mr. ANTI GURU, LEVELS of COURSE guy…
I will say though that MC is the real deal, and does not sell levels of courses, or CD’s blah blah blah.
He gives everything he has to the members of his forums for free, and every now and then he makes $97…
MC is uglier than the backside of a buffalo that got gang-raped by a heard of elephants…but he’s a good guy.
Now…fly the 75 to KAFW and we’ll go have a shot of tequila in Terlingua…
OK you two. I have to say that I have Michaels manual and for $97 you can’t beat it if you want to learn LO’s. The forum is awsume as well and believe its still free. Michael is the real deal, no guru suc ins. Herbster
PS all the required forms included.
The Naked Investor mentoring program cost is paid up front. If you complete a deal following MC’s instructions, then your tuition is refunded in full.
Michael does it this way so he does get compensated for the time invested in the less motivated wannabe’s who never do a deal.
There is no upselling, there is no “Level 2” program. You get everything MC offers in the basic mentoring package plus hand holding for a year. If you are motivated, but want a “coach” looking over your shoulder every step of the way through your first deal, then sign up for the mentoring program and get your money back when your first deal is done.
If you follow through and complete your first deal, the tuition refund makes the entire program free.
Largest LO company in Texas? I own one of the largest companies of a certain type in Texas TOO - but it has nothing to do with real estate. LOL. You have sparked my curiosity. Is what the Naked Investor teaches “off the shelf in his $97 package” legal here - and have you independently verified it through a lawyer here in Texas? If so, I might checkout his system, but again I want to make sure it is done correctly and legally. Thanks. Sites like http://www.leaseoptionsintexas.com (not my site) seem to get very specific about getting around the anti-LO law in Texas and I wondered if his system was similar
His contracts aren’t specific to conform to TX law, but I reworked them several years ago anyway, then again in 2005, and I always look to tweak them a bit just to tighten them up.
The rumors about LO’s in TX went crazy I think partly because TX was the first state to address lease options. If it had been NC that was the first, I guess the rumors would have gone crazy there.
Some attorneys tell you not to do LO’s here…because they’d rather sell you their owner finance or wraparound course…oh well…
MC is uglier than the backside of a buffalo that got gang-raped by a heard of elephants…but he’s a good guy.
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That was SO funny it made me pee LOL
So, now I am confused. Is the puchase amount 97 or is it the 1600 amount. If there are two different prices whats included in each one. I am looking at getting into wholesaling and am wondering if LO would be an easier and better route to start off with. I hear it is a longer proccess and that you are tied into the property longer and that is why people steer away from it. I understand the proccess of wholesaling if the Motivated Seller has equity in the property and for the most case understand how to wholesale forclosures though LLC and land trusts. However, I am wondering if lease options might be a better and easier route. I want to be like pilot76180 and be flying my plane back to london for morning tea…
cheers
The $97 is for his manual the $1600+ is for his mentor program.
London, I’ve always believed the two best, (meaning safest and easiest), strategies for starting in real estate are with wholesaling and lease options. Between the two, I’d say lease options are easier still. With wholesaling, you need a truly motivated seller because you need to haggle and knock him down on price in order to get the price attractive enough so someone from your buyers list will take it off your hands. If not, then you’ve got a property that you need to buy yourself. And if you don’t follow through, the word spreads.
Lease options, on the other hand, don’t require you to knock down the price, nor are you locked into the deal long term as you suggested. That’s only if you are doing a sandwich lease. But if you are starting out, your best approach is with Cooperative Assignments. You secure the deal with the homeowner and then assign it to your tenant/buyer. If for some reason you can’t find a tenant/buyer, you simply cancel the deal. Couldn’t be easier. At least, that’s what I was taught and do.
LOL
I have MC’s manual as well and I can assure you if you’re new it’s by all means the easiest way to your first check. It won’t be a massive one, but heck a few grand in most newbie’s pockets is usually a Godsend.
Like AJ just said, the great thing about it is you don’t need to “steal” the house nor convince the seller to deed it to you. All you’re doing is finding them a tenant/buyer, if they’re open to leasing it out with the option to buy.
I was able to easily do several CA deals simply by following the manual. I’d start there first. However if you can’t seem to get a deal using just the manual then I’d still go out on a limb and say the mentoring is probably a steal. You should easily be able to land $5k or more in assignment per deal in most markets so with that in mind the $1600 seems like a bargain (assuming MC and his minions are as good at mentoring as they are writing that manual and agreements).
Bushy
Go to MC’s website and start reading. I never read his manual but one of my bird-dogs bought it at my suggestion for the $97, and with a few tips from me to make sure he didn’t fall into the doing business without a license trap, he did quite well.
It provided him with another stream of income. But like anything else you have to work it, which means time and effort. Being an investor/broker I used this method when it was suitable for owner/sellers and of course I didn’t have to worry about the license issue, plus it did add to the income ledger.
Brian
For those who do CA’s can you respond to this? It’s an exert from an email I got from a RE investor:
“Others use what is called a Cooperative Assignment with the Seller. There are three BIG problems with that. First, assigning an Option is illegal in a few states unless you have a license. Yes, you read that right: ILLEGAL! Secondly, states are really cracking down on creative techniques. Cooperative Assignment Contracts are written such that they look very similiar to real estate listing agreements. In my humble opinion, I would stay away from them, especially in some of the more aggressive states”
1 - Ask him in what states is assigning an option illegal.
2 - States by and large are cracking down on preforeclosure investing, for the most part. If that scares you that’s easy - don’t market to preforeclosures. If you get one refer it to a realtor for a fee or cut. That’s what I do. Other than that I have no idea what he’s talking about. What states are “cracking down” on rehabbing, landlording, wholesaling, seller financing, etc?
3 - What was the 3rd problem again? lol
The thing about programs like this is you have to do something. Statistics say that only 4% of people actually do something. I guess the other 96% think they are paying money then they will magically collect checks. I’m not familiar with The Naked Investor but giving you an incentive to actually do a deal should really up that 4%. Also, they are doing the deal with you so you can avoid mistakes and make some money while learning. It sounds like a win-win if they are truly doing deals. I would do due diligence and confirm they are doing deals.
What nsu said. What specific states have banned assigning options?
This RE investor, where did he get his info from, because he is wrong.