WOW am I confused...Just suppose you were a Newbie and you read a post like this

General Real Estate Investing
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Just suppose you were a Newbie and you read a post like this from one of the “Helpers”… the Gurus , that are promoted within these forums.

Q: How would you feel…

Here’s one from one of the “Foremost” authorities on this forum… here to “HELP”.

[size=10pt][size=10pt][size=10pt]propertymanager… aka Michael Rossi [/size] [/size] [/size]

SBP,

The majority of rental properties in the United States are purchased by mom-and-pop type newbies who will rapidly fail. That’s good news because it means that there is a market for your property. Therefore, I would suggest marketing your property to these uninformed newbies.

Look at all the financial aspects of the property (cap rate, IRR, Cash on cash return with a big downpayment, etc.). These silly nonsense numbers can make a loser property look good to a newbie. Look at the posts we see on this forum. How many times have you seen a post like “this property has a cap rate of 8.2, what do you think?” Market to newbies at your local REIA; with a newspaper ad; and on the internet. There are millions of gullible newbies out there and all you need to do is find one.

Good Luck,

Mike

Attention: I AM one of the alleged Millions of Gullible NEWBIES… huh, that’s why I am here.

So I guess if I WASN’T a gullible newbie I wouldn’t be here… UNLESS… I was a low down heartless snake here to take advantage of Gullible Newbies.

So, this is who a Newbie is suppose to be getting Help from?

ARE YOU FREAKIN KIDDIN ME?

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I don’t see why you think there is a problem with the advice. That was excellent advice.

If you are a newbie and prefer to not fail at real estate, learn enough before you buy so that you make your first purchase a good one.

Nobody is going to take care of you and build your wealth for you just because you are starting out. If you want to suceed, you are going to have to do it for yourself and give up your hope that you can sit back passively and allow someone else to do it for you.

Nobody can sell you a bad property if you have learned how to recognize a bad purchase before you slap your money down on the table.

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mrbpostv,

The first thing that you need to learn if you are to succeed in this business is that YOU ARE NOT A VICTIM! It is YOUR responsibility to learn the basics of this business before you buy ANYTHING. All the information that is needed to succeed is posted in the forums on this website. That includes all the formulas pertaining to rental properties that will give you the maximum chance of success. You’ll note that the original poster did not follow these formulas and therefore is in a dire situation.

The fact is that NOTHING you or I can do will change the fact that the vast majority of newbies fail. The reason that they fail is they do not do the hard work of learning the business. That was the case for the original poster and that is the case for millions of future landlord wannabes. What would you advise this poster to do? He certainly can not sell the property to an experienced investor, because no experienced investor would buy a property that will lose a boat load of money. That leaves other gullible newbies who are too lazy to study the business before they buy. Fortunately for the original poster, the vast majority of rental property purchasers are gullible newbies that will rapidly fail. That is exactly who he needs to market to if he wants to dump this alligator off on another “investor”.

If you don’t like my suggestion - FINE! Please ignore all my posts and please don’t follow my 50% expense rule, my 2% rule, or my $100 per unit per month cash flow suggestion. Try it your own way and then let us know how you’re doing!

So I guess if I WASN'T a gullible newbie I wouldn't be here.... UNLESS.... I was a low down heartless snake here to take advantage of Gullible Newbies.

FYI, I am in the rental property business. I do not sell properties to newbies - I keep all my properties for my business (although, for total disclosure, I have wholesaled a couple of properties to successful local investors). I am not taking advantage of ANYONE. However, I do volunteer a LOT of my time (as do many other successful investors here) to help newbies understand this business so that they don’t join the majority who fail.

Good Luck (you’re going to need it)

Mike

4

mrbpostv,
Propertymanager (Mike) guided me through my first year of investing in real estate with realistic advice…If you like things to be sugarcoated and exaggerated Mike is NOT your guy…If you want it straight forward and NO BS included then get your panties unbunched and be quiet and read/listen to what he has to say…

I’m at 18 units with an average ROI of about %27.5 (between mortgaged and cash bought properties)…All because of the free lessons I learned by reading his posts…So cut it out and stop being a baby or you will be a victim buyer…

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I’ve been around this board for years and have never heard Michael steer anybody wrong. I have seen him piss a lot of people off, but those are the people that just can’t handle the truth.

My advice to you (if you want to make it in this business), grow some thicker skin. That’s what I had to do… good luck to you.

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Advice on the forum is one thing, and people here give it freely…

But when you go out there in the real world, business is business.

Michael was painting the picture of reality.

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mrbpostb,

If you admit you're a "gullible newbie" just take what you can can from these guys. Keep this one goal in mund when you're on this site. I'M HERE TO LEARN. NOTHING ELSE MATTERS. Did you learn anything from Propertymanager's or anyone else's post? If not, go back and read it again with a thicker skin. There are a lot useful lessons here. Think of all the people in your life that pissed you off but taught you something. Always keep your eye on the picture.
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STOP…Think about this for a minute…

Mike has GIVEN you an insight into the mind of a real estate investor.

By simply READING his post you are now aware of one of THE MOST common mistakes new investors make…

THEY BELIEVE WHAT THEY ARE TOLD BY SELLERS!!!

Because of Mike’s post YOU are now fully aware that this IS a strategy used by sellers to HOOK new investors.

Do you see the VALUE in that???

I’d be willing to bet MIke just saved you from one of THE BIGGEST pitfalls a new investor faces. Now that you know that, do you think it may HELP YOU in your future real estate deals???

I would STRONGLY recommend reading a copy of Mikes book on rental property. I’ve been doing this (investing in real estate) for 20 years and have never read a better book on the subject. It’s real world advice from a guy who DOES IT, not TALKS about doing it.

I guarantee you will see the value in his post once you get a liitle more experience. This business is not easy. Anytime you sign on the dotted line for hundreds of thousands of dollars you better be damn sure you KNOW what your getting into, because if you don’t your real estate career will be very short and very painful.

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THEY BELIEVE WHAT THEY ARE TOLD BY SELLERS!!!

Wait a minute… You mean to tell me that youre not supposed to believe the sellers? Crap…

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Homeowners / sellers are just above attorneys in terms of telling the truth.

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Great advice as always fdjake. I would add anybody thinking about investing in RE (especially Rentals) should take the personality test in Mike’s book before investing a single penny.

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I’ve been lurking here for quite awhile and rarely post. I used to be a gullible newbie, but now I’ve moved up to far-less-gullible newbie (if I do say so myself :biglaugh), thanks to Propertymanager’s advise . Great site and great people!

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You know… it took me years to truely understand that there are no victims… I am not talking about criminal aspect, I am talking from the social and economical aspect.

Those who fail usually have an execuse or can blame someone for their failure. Those who succeed find a way to get it done.

While it sounds heartless to some, the reality is still the same. While I may feel sorry for a family that are losing their house to foreclosure for example, I have to stop and wonder what have they been doing all that time they were not making payments and why should I make it my problem.

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All of you and he have likely forgotten more about REI than most will learn. That’s why this is posted for MY KIND not yours.

Correct, no one is a Victim… precisely why I posted it… beware the Wolves in sheep’s clothing.

Yes, All the info necessary is found here… that’s exactly where I found it!

People are people… some are good and most not. Few choose the Road Less Traveled in any biz. Based upon my findings he’s here for 2 reasons (probably applies to most of the “Helpers” here for that matter) and subsequently wants his cake and eat it too.

A. Pushing his current as well as future materials for a profit. I’ve seen it and read all his blog on his site (heartless there too). And the primary market is IRONICALLY NEWBIES for his materials.

B. As he pointed out, go to the REI Clubs and these types of forums to PREY on the Trusting and unsuspecting NEWBIES. That way he SCREWS them coming and going.

So Gullible Newbies is his Market and Lures them in via these forums.

Why would so many Philanthropists REI GA-Zillionaires be so 'GIVING"? If you’re all that you wouldn’t be hangin out here.

Seems to me the pitfalls are more likely to be his kind in these forums that REI itself.

People are People everywhere. And a dog can’t smell it’s own hair. But others sure can.

It doesn’t take a REI pro to see the obvious in terms of KNOWING PEOPLE.

And I don’t care as much about what someone knows, as how much they care. My point is not to debate the obvious.

My post was/is for MY KIND… THE IGNORANT seeking help.

It’s more to reveal the WOLVES in sheep’s clothing. Then at least the Gullible have been warned of the True Perils of REI.

It’s NO SURPRISE that most of the posts justify the means. Easy to find that everywhere.

“We’ll screw em, that’ll teach em”… nothin new. Hitler undoubtedly felt he was right.

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"A. Pushing his current as well as future materials for a profit. I’ve seen it and read all his blog on his site (heartless there too). And the primary market is IRONICALLY NEWBIES for his materials.

B. As he pointed out, go to the REI Clubs and these types of forums to PREY on the Trusting and unsuspecting NEWBIES. That way he SCREWS them coming and going."

LMAO… so I guess your not going to buy his book? Stop taking yourself so seriously and go have a beer or something… hell, I’ll buy! :beer

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Correct, I won’t be that gullible to buy his book. Or his properties. Or yours. And that will be an Import Please. :beer

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Wasnt it Hitler who said “If you tell a lie to enough people it becomes truth”

Jared are you buying that beer?.. I need a drink!

Michael

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mrbpostb,

If you admit you're a "gullible newbie" just take what you can can from these guys. Keep this one goal in mund when you're on this site. I'M HERE TO LEARN. NOTHING ELSE MATTERS. Did you learn anything from Propertymanager's or anyone else's post?

Answer: Yes, I posted it.

In short:

Keep your friends close, and your enemies closer.
Sun-tzu Chinese general & military strategist (~400 BC).

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mrbpostv,

I think you missed the point a bit. You’re so focused on how cruel everything sounds and you’re not seeing the message. Newbies have a choice, Get educated first then start investing on the right foot. Or just start and learn as they go ( which is usually short lived). The fact that you’re not open to teaching regardless of how painful it may be, says to me that you’ll miss something important and get in trouble. What makes this site so great is that people are willing to spend the time helping one another. Don’t ever forget that. I suggest you stop pissin’ & moanin’ and concentrate on learning what you can. One final note. Did you realize that you’re the only one who had a problem with Propertymanager’s advice?? Relax and have nice cold Ballentine (in a can). When you make it big you can switch to Pabst Blue Ribbon!! :beer

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You know, the more I learn about people, the less I truly understand them.

Mr.bpostv, you are a victim. You’re a victim of your own warped little world.

You take perfectly good, sound advice and use it to attack the poster as “preying” on newbies. How exactly? By offering the advice? Let’s see, if you had not been here to read it, could you have been one of those newbies trying to buy a similar property? Answer: Probably.

Sad truth is you still will be because you refuse to get sound advice.

You say that the “helpers” as you call them are here for two reasons only and it’s not to “help.” (ironically, your ‘two’ reasons is really one). First, most of those “helpers” have no wares to push on all those “unsuspecting newbies” that are so endangered. Second, of those that do, I’ve yet to see one post anything of the like, trying to push their product. In fact, PM stated that EVERYTHING you need to do REI is HERE, in the forums. Hardly a a push in the back to buy his book.

Let me say that EVERYONE is here for their own reasons and their a lot more numerous than one or two. Why are you here?

And I don’t care as much about what someone knows, as how much they care. Care? You mean that you’d rather be coddled than taught? BTW, if you’re looking for the wolves in sheep’s clothing, that IS those “helpers” and gurus who do that. Oh sure, they’ll tell you how good you are, how you can succeed, and all you need to do is listen to them (and buy their stuff). Heck, they may even let you cry on the shoulder when you’re down or IF you happen to buy a property and lose thousands of dollars and pat you on the back and say, “it happens sometimes, but you’re still good, you can still succeed,” but they don’t CARE.

So personally, I’d prefer my education from someone that doesn’t give a crap about me, BUT does KNOW the business that they are “helping” me with. Continue to be a victim. Continue to do it your way.

Seems to me the pitfalls are more likely to be his kind in these forums that REI itself.
If you keep thinking that, I suggest that you keep your money in your pocket and out of REI. You’ll lose it FAST.

I won’t be that gullible to buy his book. Or his properties. Or yours
And you’ll learn how? Buy properties how? Oh yeah, from caring, thoughtful individuals that only think of your needs first. :rolleyes
Wait a minute. That’s not your view at all.
People are People everywhere. And a dog can’t smell it’s own hair. But others sure can
Guess you won’t be buying property at all.

I’M HERE TO LEARN. NOTHING ELSE MATTERS

Apparently, it does, especially since you’re pissed off about the learning part.

My point is not to debate the obvious.

Good. Then we won’t have to discuss how obviosuly moronic you sound in this flaming post.

Raj