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Peter Conti and Jerry Norton's Flipping Commercial Properties Program??

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Lokesh W.

Real Estate Investor from Milwaukee, Wisconsin

Nov 18 '11, 01:59 PM


Hi,

Has anyone used this program of flipping commercial properties with Peter Conti and Jerry Norton using their financing? I have some experience with flipping residential properties (wholesaling and some rehabbing). I could make more money by flipping commercial properties so this is very tempting. They are charging $297 for the purchase of their program with 1 month of free mentoring, financing deals etc. After 1 month, there is a monthly fee of $297 per month if we want to use their mentoring and funding. THis has a 12 month 100% money back guarantee.

Please share your thoughts if you or anyone you know has used this course. Any suggestions on this or commercial real estate flipping are greatly appreciated...

Thanks



Mitch Kronowit Donor

SFR Investor from Orange County, California

Dec 01 '11, 07:07 PM
2 votes


I once provided a Peter Conti web site an email address in order to access the page. It was shortly sold to spammers after that (I used a disposable e-mail address so I know). I would never do business with him.



Jenkins Ramon Donor

Real Estate Investor from Milwaukee County, Wisconsin

Jul 17 '12, 06:48 PM


Lokesh W. do you have an update on this program

legit or non legit "flip guys " - backflip program



Melodee Lucido

Wholesaler from Flagstaff, Arizona

Jul 18 '12, 09:14 AM


Jenkins, I am wondering if you have googled the name of the program and reviews. This can be very telling before giving money for any course.

A few months ago I looked at the Cont/Norton backflip program for residentials. It went like this:
1) Find props with jumbo loans on them that are under water;
2) These homes must be current on all mtg payments;
3) Get a contract with the owner;
4) Negotiate with the bank to lower the mortgage based on "the owner is going to walk if we don't so this";
5) the owner gets to stay in the house;
6) We get a big payday

It may have had a few other details in there, I don't remember.

I did a search on G and found many that had bought and returned the course because of NO, I repeat, NO support as promised. Also, no one found that Conti/Norton premise proved to be true.

The repeated question, over and over was why would a bank deal on a home that is current on all payments. Also, why would an owner have us do what they can do themselves---basically, refi.

I decided to pass.

If anyone has any wisdom on this matter or has had some experience with the Conti/Norton products it would be interesting to hear.



Lokesh W.

Real Estate Investor from Milwaukee, Wisconsin

Jul 18 '12, 09:35 AM


@Jenkins Ramon,

No updates on this. I have heard about Conti - Norton's bad support on the internet. That's all...

@Melodee Lucido,

Thanks for the update. This confirms some of the reviews from Conti - Norton's customers on the internet.

I think underwater Jumbo loans maybe a good candidate for Note Buying.

Can anyone tell me how we can get a list of Jumbo loans that are underwater??? Do list brokers have these lists??



Jenkins Ramon Donor

Real Estate Investor from Milwaukee County, Wisconsin

Jul 18 '12, 10:25 AM


Melodee Lucido
" Jenkins, I am wondering if you have googled the name of the program and reviews. This can be very telling before giving money for any course. "

Answer is
– Yes,, that why I was asking Lokesh W.
had there been any update
( deals ,, non deals ,, or just decide to move on )

Since Loesh W. up in my neck of the woods

Meaning did Lokesh W. move forward with course

or went the self taught approach



Steve Babiak

Real Estate Investor from Audubon, Pennsylvania

Jul 18 '12, 12:50 PM
1 vote


Originally posted by Melodee Lucido:
...
A few months ago I looked at the Cont/Norton backflip program for residentials. It went like this:
...
It may have had a few other details in there, I don't remember.
...

Don't feel too bad, the gurus don't remember either! :D



Steve Babiak, Redeeming Properties, LLC
Telephone: 6109082183
...


Lawna F

Glendale, Arizona

Sep 29 '12, 03:38 PM


Hi there. I would like to comment on this. I actually did do this program and no it was not worth the money. Their money guy is too slow and you can't get deals done. Plus your client gets mad because you're not moving fast enough and you end up losing them unless you get other money people.
It's worth it if you just want to learn the mechanics of bridge loan funding. But you could probably find information over the internet just the same for free.



Joe Lopez

Lemont, Illinois

Nov 17 '12, 09:37 AM


I'm so glad to have found this site & forum. I have been doing research on Peter Conti & Jerry Norton for a number of days and I have found more negative posts about these guys than anything else. Actually, it was my research that brought me to this website! :)
I have also tried calling MFG and went through all the different prompts and never was able to get someone on the line.
I also found two of the three testimonial video authors on facebook. Both fb pages looked bogus. I messaged a solid handful of people on Jerry Norton's Real Estate "guru" fb page which NONE messaged me back. I read all of the Ripoff Reports on them and their company MFG. I found Peter Conti's YouTube page and messaged him on there as well. No responses from anyone connected to these guys. To me that's incredibly strange and definitely raises a red flag about doing business with them.
I can confidently say, based on my own due diligence, that Peter Conti & Jerry Norton's MFG is nothing more than a scam. Cool concept and great idea, but all nonsense.



Melodee Lucido

Wholesaler from Flagstaff, Arizona

Nov 17 '12, 12:49 PM


It is sad to me that some people who once had a viable plan and success now make their living talking people (trying to sell) about a course that is over priced and a system that doesn't deliver.

They could be making a difference in the industry and people's lives like my mentors.

Money isn't the root of all evil . . . the LOVE of it is. But then, I guess some people have to learn by their expensive mistakes. I will ALWAYS do what I can to to expose fraud and expose the real diamonds.

Success to you all



Glenn Espinosa

Rehabber from

Nov 17 '12, 12:59 PM


Originally posted by Melodee Lucido:

1) Find props with jumbo loans on them that are under water;
2) These homes must be current on all mtg payments;
3) Get a contract with the owner;
4) Negotiate with the bank to lower the mortgage based on "the owner is going to walk if we don't so this";
5) the owner gets to stay in the house;
6) We get a big payday

Why would anyone do this? It seems soo much harder than simply buying a REO and flipping it.

Just reading that process gave me a headache.



Melodee Lucido

Wholesaler from Flagstaff, Arizona

Nov 17 '12, 07:35 PM


Glenn,

Right?? It's the guru-selling-the-newbie-syndrome. But someone could prove me wrong.



Lokesh W.

Real Estate Investor from Milwaukee, Wisconsin

Nov 19 '12, 02:17 PM


Yeah, too many complaints on Peter Conti and Jerry Norton... I was impressed by his books on Amazon – “Commercial RE for Dummies” and other one on Pre-foreclosure investing. I also received some good free books (which are still selling on Amazon.com) for joining his mailing lists few years back. But, there are way too many complaints on these training programs. I decided not to join any of his training programs. I should unsubscribe from mailing list.



Joe Lopez

Lemont, Illinois

Nov 19 '12, 05:04 PM


@Lokesh W. from the short time I've been here on this forum I can say I'm glad I didn't waste my time or money on Peter Conti's system. This forum seems to have all the answers you can possibly need as long as you're willing to look for it. The people here are a great help too!



David Doyle

Monrovia, California

Feb 03 '13, 07:18 AM


Heres a "Litmus Test" I plug in ,and apply before I consider buying any REI course or coaching program

01. Call the Guy,,,,,Yeah.Is he "not busy enough" to take your call or even return it? Thats the key really,,Is The Guy Accessable,,,or is there "A Firewall" between you and him...even after you give "The Guy " what he wants,,,,i.e.,,,,"Your Money",,,,

02. Call the Guy Again ,,,at this point you might get ,,,"The Gatekeeper " on the phone,,,,Great!!!!

How does "THe Gatekeeper" treat you on the telephone,are the helpful, courteous,responsive,,,,,?

Or are they ,,,,arrogant,contrary,indifferent,"catty",rude,surly,,,or do you get the feeling they just want to get your off the phone go to lunch,,,,,

03 Make a conclusion ,,,,
Guess what guys ,,,the way "THe Gatekeeper" treats you on the telephone is very likely the way "The Coach" is gonna treat you,if your lucky enough to talk to him at all

Since "The Gatekkeeper" is also "The Coaches Employee ,Liason and Representative" their attitude and conduct is a good indication of the quality of their product and services they render

04 If you get bad vibes on the telephone ,,,put that debit card back in your wallet Charlie Brown ,,,,get off the phone,,,and Run Forrest Run,,,,!!!!back to Grandmas house!!!

Seriously ,,take your time and do your research before investing in any course or program.If enough people are saying the same thing repeatly about any individual,,,you must take note of it.There are plenty of good products and programs out there if you are vigorous and thorough in your due diligence.

And yes,,,Bigger Pockets is a tremedous resource if you take the time to read the posts relative to your interest.I am amazed what I have learned here,,,,,Thank You BP,,,

Dave Doyle
Los Angeles



Tracy Coats

Scottsdale, AZ

Mar 08 '13, 01:20 PM


My business partner and I bought into Peter and Jerry's commercial back-flip program. Don't waste your money on it! You'll get plenty of meeting with business owners, but getting them to drop $$$$ on a commercial work-out attorney is not going to happen, especially since they are already in default. We had the best attorney on all calls with our clients...and none of them wanted to dish out anymore money to an Attorney with no guarantees.



Lokesh W.

Real Estate Investor from Milwaukee, Wisconsin

Mar 12 '13, 08:45 AM


@Tracy Coats, Sorry Peter Conti's training did not work out for you... As I have mentioned in another post of mine at BP - I have unsubscribed from Peter Conti’s email list. I had joined his list because I was impressed by his books on Pre-foreclosure investment and also commercial real estate. But all his emails offers and trainings seem to be too good to be true.



Sue Allen

Arnold, Missouri

Feb 23, 02:37 PM


Thanks everyone for your comments. I was going to check this out but now I know not to waste my time. I can find vacant lots very simply; no training needed. I thought it was odd that they'd pay $8700 for that, but I have to admit the thought of making that much money for simply finding a vacant lot and passing the info to them was tempting.



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