Real Estate Investor · Mastic Beach, NY · Member since 2011 · 6 posts · 0 votes
Can someone please tell me if they have attended Preston Ely's new webinar about hedge funds buying up the real estate market with Billion (with a "B") dollar acquisitions? He states "mom and pop investors" (uhh, that would be me) will be squeezed out of the real estate wholesaling market in the next 18-24 months (2013-2014). I will be attending the seminar tonite (6pm EST) and will update the forum when I know something more.
I just thought some backround info before the webinar would be great.
I joined the webinar this past Tuesday. His statement about the hedge funds looking for nicer homes was all I needed to hear. I continued to listen to just to hear the price then turned it off.
James -
Take a look on the BiggerPockets Blog. We've had quite a few posts on the topic over the past month or so, which cover not only what is happening, but also what you can do about it.
Just wanted to update this thread as I said I would.... well I listened to the webinar last night and basically Preston Ely is selling a soup to nuts website subscription called "Real Estate Mogul" for $97/month. I seems like an updated version of his previous software package "FreedomSoft". Some big names in the real estate training business are named as instructors. They have a slick user interface. Since I am new to this forum, I want to be clear that I have no vested interest in that website. I am only a potential end-user looking for other investors that can give me feedback on Preston Ely's newest online venture.
I also listened to his webinar, James. The most salient point he made is the funds are largely targeting nice homes, not distressed homes. The claim on the webinar that entire blocks of single family homes will be institutionally owned doesn't square with reality. As Joshua suggested, I would advise anyone to read the informative articles and insights on BP about this topic and make adjustments accordingly.
I just logged in to ask the very same question about the coming "cataclysm" that will change real estate investing as we know it {paraphrase of Preston Ely's ad for it].
I am signed up to watch the webinar this evening (Sunday) but, having read Preston's mean-toned, bragging book, I'll be taking his claims with a rather large salt mine.
It surprises me not at all that he is selling, not telling, something.
I'll also check those posts that Joshua kindly posted.
I also listened to his webinar, James. The most salient point he made is the funds are largely targeting nice homes, not distressed homes. The claim on the webinar that entire blocks of single family homes will be institutionally owned doesn't square with reality. As Joshua suggested, I would advise anyone to read the informative articles and insights on BP about this topic and make adjustments accordingly.
I am still hopeful that someone will reply that actually gave the "Real Estate Mogul" system a try. I tried out the Freedomsoft software and it was more than I needed. There was alot in it, but only useful to the investor currently managing several deals a month. I'm not at that level yet. I suspect that this new software is a revision of that. If there are actual deals being split/networked then that would put "Mogul" in an entirely different category for me.
The sampling of "hedge-fund" posts that Joshua posted was great! I made it half way thru the list. Being a new member I am going to do much more reading than posting, until I get a feel for where I fit in.
I listened to it. Hour and a half long! Of course at the end of it, he and a "circle' of other well known and very successful investors were involved. I'm wondering how many small investors ( or any others) really ARE worried about the big guys taking over?? I read where we can buy in the zips AROUND where they are buying in bulk; buying OLDER homes ( they are buying homes 5 yrs old and newer); bank-owned foreclosures in bulk in certain cities. I also read an article written by an investor ( not involved in the Preston "ring") that we could buy HUD foreclosures instead because they are only interested in the bank-owned ones. I can't find this article now, though. Is this true about the HUD foreclosures vs. bank-owned ones? Would appreciate anyone's opinion on these "idea's" above. Do we have to panic? Thanks, Christine
I joined the webinar this past Tuesday. His statement about the hedge funds looking for nicer homes was all I needed to hear. I continued to listen to just to hear the price then turned it off.
Yes, Yes! Hedge Funds are like an enormous and monstrous vacuum machine, sucking off all the good deals in every corner
of this country.
I am not worried about it at all. I rather view it a positive factor
for my investment. Maybe I don't get deals as good as before, but
the liquidity is a much bigger problem for them (hedge funds). Even if I stop buying and just sit tight with the properties I am having,
I can still enjoy the price increase brought about by this massive
funds' buying. If I am an aggressive momentum chaser, I should be
able to get ahead of the funds.
Don't sell now! This is probably the time in which your thinking does not make you money, while your sitting does.
Thank you for posting this question. I just attended the webinar as well, not realizing that the same webinar took place some months ago. I was debating purchasing his Mogul Elite subscription ($597/yr or $97/mo) and wonder if anyone here has already tried it out and would you recommend it for someone just getting started.
Cameron - Dig through the forums here if you want to see how people start out in wholesaling -- you'll find hundreds to thousands of post from people sharing how they got started in wholesaling and other strategies.
I saw the same webinar. I knew there was going to be an upsell at the end as most webinars from these gurus usually do but I was just curious on what he had to say.
It's amazing that he's now using fear tactics to upsell his stuff. I guess whatever works huh!
You have to hand it to Ely. He does a great job doing this Internet marketing stuff even most of it is nothing but fly by night fluff and BS just to get you to open your wallets and make him richer.
Has anyone actually purchased Ely's Real Estate Mogul Elite program? I listened to his webinar and it appears some of the modules maybe useful, especially the Deal Making Guide Module. He claims to provide an established database of sellers, buyers, joint venture partners, etc. As a new investor, it appears that having access to such a database will help develop and grow my business much quicker but I am skeptical.
When these GURU guys start using FEAR tactics to sell there stuff, BEWARE.
Does some of there info work YES. But 100% of it can be found here, take your time and research it. And it will be ACTUAL real experiences from people you can interact with.
Put this site to FULL USE! You will be glad you did.