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REO ROCKSTAR any one

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34 posts by 17 users

Jim Ranoldo

Appraiser from Tabenacle, New Jersey

May 15 '09, 10:34 PM


REO ROCKSTAR any one delt with this program


Edited Jun 26 2010, 08:14


Raul A.

Real Estate Investor from California

May 16 '09, 09:43 AM


Some guy I know who mentors other people, vouches for him. I read his e-book, good enough to wing it. That's what, I'm thinking to do.
The program, in my opinion, has a high price. Plus your automatically enrolled to his monthly mentoring unless you bail out before it renews again. Email me, if you want to chat more.

My 2 cents.


Edited Jun 26 2010, 08:15


Joshua Dorkin Verified Donor

BiggerPockets Founder from Denver, Colorado

May 16 '09, 11:55 AM


Raul -
I'd love to hear more info. What does this program focus on? What's the gist?


Edited Jun 26 2010, 08:15


Medium_bp-squareJoshua Dorkin, BiggerPockets
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James Hiddle

Wholesaler from Altus, Oklahoma

May 16 '09, 02:04 PM
1 vote


Josh it's a program that focuses on wholesaling REO's without doing the double close or LLC method.

Basically it teaches how to put a buyer on the PSA with your name and quit claiming the contract once the end buyer buys the property.

It's done by Preston Ely and another REO investor. I have the free ebook they were offfering haven't really gone over the info though.


Edited Jun 26 2010, 08:15


Stephani Davis

Real Estate Investor from Tampa, Florida

May 17 '09, 12:31 PM
1 vote


Actually, he does his REO flips via simultaneous closings, and that is what he is teaching in the course.

He is a well known and well respected wholesaler/investor in Tampa. I've done many deals with him over the last 2 years.

He's the real deal.

Steph


Edited Jun 26 2010, 08:15


Joshua Dorkin Verified Donor

BiggerPockets Founder from Denver, Colorado

May 17 '09, 02:24 PM


Ahhh . . .


Edited Jun 26 2010, 08:15


Medium_bp-squareJoshua Dorkin, BiggerPockets
E-Mail: [email protected]
Telephone: 877-831-4704
Website: http://www.biggerpockets.com
Get your logo in your signature too! Upgrade to PRO Today at http://www.biggerpockets.com/pro


Raul A.

Real Estate Investor from California

May 18 '09, 03:09 AM


Josh,

What Steph said.


Edited Jun 26 2010, 08:15


Jim Ranoldo

Appraiser from Tabenacle, New Jersey

May 18 '09, 05:15 AM


So it is worth getting his course?

What do you get for you money?

Give me an idea of what he dose for you after he gets your money & what do you have to do to implement plan?

THANKS every one


Edited Jun 26 2010, 08:15


Hugh Hill

from Alabama

May 20 '09, 04:28 AM


#1. It was worth it to me. But yours may vary.

#2. Learn to wholesale REO properties. Evaluate REO deals, Network with Realtors.

#3 The question doesn't make sense at all.


Edited Jun 26 2010, 08:17


Jim Ranoldo

Appraiser from Tabenacle, New Jersey

May 20 '09, 05:24 AM


Thanks
the 3rd question was pertaining to

Do you have to sign up for more classes.
Do you have to spend $1,000 plus in marketing. etc. Thanks for all your help


Edited Jun 26 2010, 08:17


Hugh Hill

from Alabama

May 20 '09, 07:57 AM


So far no upsell.

Mainly your marketing to REO agents. By email and in person. So no marketing there. I'm sure there will be some cost to getting your buyers list built up.


Edited Jun 26 2010, 08:17


Romao May

Real Estate Investor from Chicago, IL

Jun 01 '09, 05:27 AM


How can i get a copy of the Reo Rockstars book.


Edited Jun 26 2010, 08:25


Hugh Hill

from Alabama

Jun 10 '09, 06:22 AM


Romao,

It's not a book you can buy. It's 6 week teleconference.


Edited Jun 26 2010, 08:31 by Hugh Hill


Joe Picarella

Real Estate Investor from Fontana, California

Jul 28 '09, 07:25 PM


Yeah dude, Lee Kearney is legit. I know this is my first post but I want to make it clear that I have no affiliation with Lee or Preston Ely other than as a student. I have heard Lee talk in detail about how he wholesales REO's and it is pretty impressive. Also, Preston Ely does help a lot of "guru's" sell a lot of their crappy products, but anything that Preston himself has actually had a hand in creating, such as REO Rockstar, is usually top notch.


Edited Jun 26 2010, 09:09


Joe Picarella

Real Estate Investor from Fontana, California

Jul 28 '09, 07:26 PM


By the way, that is just my opinion on these two guys. As always, what you get out of the info from REO rockstar is going to be determined by what you do with it.


Edited Jun 26 2010, 09:09 by Account Closed


James Hiddle

Wholesaler from Altus, Oklahoma

Jul 29 '09, 04:58 AM
2 votes


Ok Joe I'll give you the benefit of the doubt and ask you what deal or deals did you make using the strategies from this course?

We get a ton of one posters on here praising courses and seminars but don't bother telling their experiences and success with said courses and seminars.

So what was your success with this course?


Edited Jun 26 2010, 09:09


Norm Chrostowski

Real Estate Investor from Lakeview, New York

Jul 29 '09, 06:31 AM


I agree. C'mon, fess-up, let's hear it?


Edited Jun 26 2010, 09:09


Joe Picarella

Real Estate Investor from Fontana, California

Jul 29 '09, 07:16 AM


I have zero experience with the actual REO Rockstar course, but, I did buy Preston's e-book on wholesaling (which was pretty cheap if I remember it right) over a year ago and using the techniques he taught, I have flipped over 20 non-REO properties in the last year.

I am working on flipping my first REO as of now (there are some new aspects to learn when making the jump from FSBO's to REO's which can take some time) but, about six months ago when I decided I wanted to figure out a way to wholesale REO's, I received a CD from Preston of a recorded interview he did with Lee Kearney all about how Lee has wholesaled a TON of REO properties.

In the interview, Lee went into great detail about how he gets around certain issues that usually stop most wholesalers from getting into REO's and every technique he described made perfect sense.

So, after I listened to this interview, I set out to find someone who was actually wholesaling REO's that I could speak with and that could mentor me on doing the same. I found someone on another investor networking website who took me under her wing who also happens to live in the same city as Lee. I never once brought Lee up to her in any conversation, but one day I asked her if she had ever thought about creating some sort of e-book or home study course on wholesaling REO's. She said that it had never really crossed her mind but that there was a guy in her city that she had partnered with on a ton of REO deals and that he was getting ready to put some sort of course out.

I immediately asked her if his name was Lee Kearney and she was kind of shocked that I knew who he was. She then went on to explain that he is the real deal (she has never had any reason to lie to me and she is not some sort of affiliate of Lee's) and that she has dealt with him many times because it's hard not to deal with him at some point if you are wholesaling REO's in Tampa.

So, for someone that I totally trust and respect as a self made REO wholesaler to bring this guy up and then vouch for him when she has nothing to gain from it on top of having heard this guy speak about how he does what he does and being completely impressed by his strategies is enough for me to say that I feel he is legit.

Sorry if this response is waaaayyyyy longer than what you guys were looking for. I tend to ramble on at times but I just want to make sure I explain myself as completely as possible.

Oh, and for the record, I have had four REO's properties in escrow but I ended up having issues with each of them (which is all part of the learning experience) but I credit most of what I have learned about REO's to my mentor than to Lee since she has been there every step of the way.

Alright fellas, (and ladies) I gotta go. Thanks for the 14 hours it took you to read all of this.


Edited Jun 26 2010, 09:09


Joe Picarella

Real Estate Investor from Fontana, California

Jul 29 '09, 09:46 AM


Oh, and although this was my first post, I am very happy to be a member of bigger pockets and I look forward to throwing my two cents in on a lot of topics from this point on.

Also, I should add that I love how you guys are so quick to call people out on this forum. It is definitely a necessary step. I hate it when people disguise themselves as consumers in order to help push a product just as much as you guys do so keep up the good work.


Edited Jun 26 2010, 09:10


Jose Rios

Real Estate Investor

Aug 31 '09, 01:07 PM


To Joe:

Question: The course states that you can wholesale REO's without any money or credit? How do they get around the fact that you need to give an earnest deposit on every single accepted contract with the bank. That means you do have to put money out of your pocket, unless there's a technique to get around that. My question is, is there a technique to get around having to put up an earnest money deposit so that there is a true no use of your money at all?

Your reply would be greatly appreciated.

Thank you.


Edited Jun 26 2010, 09:34


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