BiggerPockets

Esmeralda Lira and I mentored with Phil Grove for 6 months last year. He has a good program and knows his business. As with all Guru's he shows you love if you put forth effort and bring in leads.

We tried over 8 short sales with his company with not 1 success. But he does explain that short sales have gotten harder and only 1 out of 10 succeeds.

We have experienced great success with the mortgage assignment program and whole selling deals.

Phil's program will give you the confidence you need to succeed. In this business confidence is key even if you have never done 1 deal. Say it like you believe it.

Karlos
Firebolt Investments

What I can't understand is as big as this forum is no one seems to be a successful student of his but yet in his presentation he has a bunch of victorious case study ones.

Keep us updated Bob.

Phill is a great guy and genuinely cares about his students.

Hi Bob,

Any update on the deal your working with Phil?

thanks

Karlos

thanx much for the update, i was querious & you just satisfied it

I am new to BP here too and Michelle hit it right on the head. I don't see any of Phill's students on here except Karlos, yet I see them and talk to them all the time as we partner with each other on deals here in Austin.

I've never looked for a forum like this because I was too busy to get on the internet and I had a huge supply of local people to talk too (all of which I met because Phill Grove and Shenoah).

A topic I found on BP motivated me to sign up and since I've been here I've seen the value of the community.

SO on that, I'm another huge Phill Grove fan - he's the real deal and I;ve not met anyone yet who says otherwise.

It would still be nice to have someone post an actual deal completed by Larry's program.

Hi Faitasi...Welcome to BP.

I can't vouch for whether or not Phill has done 1000 short sales. What I can tell you is that I have been to his multi-million dollar house that he purchased on a short sale and that he made his money prior to marketing real estate programs. I can also tell you that he knows his stuff cold. If you ask any member of the RENC community in Austin about him I think you would be hard-pressed to find someone that doesn't respect him.

Phill has a huge following in Austin and my suspicion is that he does a lot of deals by partnering with students that lack the capitalization to fund short sales. It wouldn't be too hard to fund 20 deals per month if you get to see hundreds at a time from people turning over rocks for you.

Short sales haven't only existed recently. They have existed in other points in time too because banks are complete idiots that no longer no how to lend money properly.

If you PM me I would be happy to give you Phill's personal cell number. If you call him I am sure he would be happy to clear up any uncertainty you have about the validity of his claims.

Hey Faitasi,

Actually, Phill started doing short sales in 2003, before most people even knew what short sales were. Yes, in the hot bubble markets (CA, NV, AZ, FL) prices were going up so fast that shorts were less common, however, in the other 46 states, shorts became common because so many people got sub-prime zero-down, or took all of the equity out of their homes with home-equity loans and then needed to sell, but had no equity left…. Because Phill was so early into this strategy, he got investors from all over the place to send him their "no equity" leads, and he turned that into a killer business. I wish I had thought of that at that time!

Furthermore, I have seen Phill talk about how many shorts he has done in his presentations. He has something he calls "the truth about" presentation where he tells you the other side of the story for each of the top-12 investing strategies. The stuff gurus never disclose. When he talks about short sales he freely admits "I made over $3M on my first 1000 short sales. .wanna know the whole truth?…I made $3M on about 100 short sales and next to nothing on 900 others!" In other words, he tells people that only about 10% can be flipped. It's a numbers game. The others can often still be sold, but not necessarily for enough to make any money beyond the Realtor commissions. Still others get all the way though the process, and then get denied by the lender. Most gurus talk about all the deals that make money, but never tell you about the deals that don't make money, and the down side to different strategies.

This was all a couple of years ago. I know he has since this done many more short sales, but I don't where all the number are now. I can tell you that what Phill is getting into now is something he calls Mortgage Assignment. It addresses exactly what is going on in the trenches right now. I strongly suspect this will be what everyone will be talking about in another 3-5 years. Phill looks to be, once again, way ahead of the curve.

Dani - Do you work for Phil or are you just an affiliate? (I saw that you're promoting his courses on your website)