I see the signs around sometimes and i happen to have come across some job postings on craigslist and a real estate site here in Chicago...has anyone simply called and found out what the story is here??...smells like a scam but i don't know for sure...
Investor · Washington, DC · Member since 2008 · 44 posts · 15 votes
17y
At Mcdonalds yesterday I saw two people in the corner talking "Business". The guy had a pen and a piece of paper and was outlining his "strategy" to the woman who seemed desperately interested.
I couldn't help but over listen....until I heard the magic Statement from him.
"Some people put it on their credit cards, because they just can't afford to wait any longer. If you can get 2 people to sign up underneath you, you will get..."
Thats when I quit listening!
I looked in the parking lot and there was a car with writing on the window:
INVESTOR SEEKS APPRENTICE Call ...!
Real Estate Investor · Las Vegas, NV · Member since 2008 · 1k+ posts · 447 votes
19y
I don't know for sure. Those signs are all over here in Las Vegas as well.
They are usually cheap cardboard and hand lettered. I would think that any real investor who was looking for an apprentice would do it better than that. Probably people who paid so much for some guru's get rich quick seminar that they couldn't afford anything else!
Real Estate Investor · Phoenix, AZ · Member since 2008 · 74 posts · 14 votes
19y
I believe the signs that specifically say "Mentor seeks apprentice" or something similar and are usually hand written belong to Nouveau Riche. Its some real estate school thing that basically gets a ton of money out of you to teach you what you could learn free on the internet. I think its basically an MLM scheme. They've been banned from this forum as well I think.
It may just be a valid attempt at finding an apprentice to do all the footwork. I'm technically doing that with a couple of my friends. They find me deals, I teach them how to close them.
But then again, it could be a scam. As they say...
Investor · Washington, DC · Member since 2008 · 44 posts · 15 votes
17y
At Mcdonalds yesterday I saw two people in the corner talking "Business". The guy had a pen and a piece of paper and was outlining his "strategy" to the woman who seemed desperately interested.
I couldn't help but over listen....until I heard the magic Statement from him.
"Some people put it on their credit cards, because they just can't afford to wait any longer. If you can get 2 people to sign up underneath you, you will get..."
Thats when I quit listening!
I looked in the parking lot and there was a car with writing on the window:
INVESTOR SEEKS APPRENTICE Call ...!
Investor · Kern county Riverside County, CA · Member since 2008 · 494 posts · 261 votes
17y
I am an absolute SUCKER for those bandit signs! If I see a new one in my area, I always call to see what kind of ridiculous pitch they have on the other end. I guess I am just trying to keep on the cutting edge of marketing in my area or something. Maybe it’s the same reason I watch those “flip-this-house†shows, it just amuses me! Like Jon said, they are usually for Nouveau Riche, an “investor college.†Some are for bird-dogging; some for letter stuffing, but one seemed to need a “straw buyer†for a shady sounding investment. Yikes! I have yet to actually talk to a “real†investor that is seeking helpers. It doesn’t mean it isn’t out there, just my experience.
Investor · Kern county Riverside County, CA · Member since 2008 · 494 posts · 261 votes
17y
I agree about your take on Nouveau Riche, but was being polite as to avoid the flame war I got into earlier this year when I suggested something similar to what you said. In my area there are a few trailers with billboards on them driving around that say "If you haven't made 15k this month, call now..." This is also N.R.
Riverside, CA · Member since 2008 · 49 posts · 2 votes
17y
I see those signs in my area all the time as well. I would like to do some type of apprenticeship in the future with an Investor. Im thinking the only way to find one would be through my local REI group?
Real Estate Investor · Scottsdale, AZ · Member since 2014 · 25 posts · 29 votes
12y
Hi Guys,
I actually did call the number and went through the entire pitch Here is my post regarding the experience.
In a nut shell,,,
Here's the deal, most likely the ads or signs you noticed in Chicago where from someone affiliated with Chicago Business Development Group. Kind of an interesting business having formed years ago as a marketing affiliate for Renatus; an online education resource for like minded investors. Fast forward a few years and CBDG is an enviable position. They have more, a lot more, investment capital than what the team of 200 to 300 experienced investors can logistically deploy. That's why they are expanding, looking for people interested in learning real estate investments or those well seasoned investors looking for a team of like minded professionals to work with on a national scope.
Unbelievable?
Honestly, that was my initial reaction when I first learned of the program.
After all I'm not exactly new to the concept of investing in real estate. Having flipped my first home at the ripe old age of 24 and more recently investing upwards of $10 million of my own capital in a variety of transactions; I'm not what you would consider a newbie.
Add to my experience the fact that some of my closest friends and partners are involved at the highest levels of the mortgage industry, I mean common! - I would have heard of a hedge fund wholesaler program like the one I was being pitched in that webinar. Really I'm going to learn of a real opportunity in the this webinar (Doubt It) a program like that isn't going to slip past my radar; there's just no way RIGHT?!?..... Well as a matter of fact; Wrong!
As it turns out this opportunity is not all that uncommon. A friend reminded me that he was presented with a similar opportunity in 2007. The part that was difficult to believe was the structure negotiated by CBDG. Don't misinterpret what I'm saying; It's not easy to setup or be selected for this type of venture.
I mean unless you have a long standing,rock solid reputation in the industry and the right relationships; at best its an uphill battle. In my opinion it's CBDG's vast network of knowledgeable (Well Educated) investors thats at the center of this real estate investment machine that runs near prefect day in day out, even with a rate of growth that would be crippling for most other sales teams. Next time you see a sign give it a call; I did.
If you're thinking this guy is an insider, he's with the group. Well you are half right. I joined the team and can honestly say I have never been around such a large group that sincerely has the best interest of others and not just their personal benefit front and center. I can honestly tell you that you would feel the same way. What's more is several people joined the team with nothing and made mid six figures their first year.
Anybody want to find investment property, write an offer with a large investment fund and receive almost 40% of the projected profit at COE? (That's buy side escrow) I put my info so I don't beat up on this blog. Have a comment you can call me and then post.
Investor · Saint Paul, MN · Member since 2015 · 1 post · 0 votes
11y
Has anyone had the pleasure of working with Chip Towner, his comment above sounds very nice and all. But he is holding some of my money and not responding to communication efforts. The deal is obviously not going forward, I just want to get my money back.
Wouldn't mind some positive feedback on the guy, maybe I wouldn't be so worried it's a big scam then.
London, London · Member since 2014 · 3 posts · 0 votes
11y
Hi Mark,
Re: Mr Chip Towner. Bad news I am afraid. A client of mine was advance fee scammed also. Mr. Towner will not return $6,500 of his money despite attorney letters. I also believe there are many more. You can email me if you want to contact me directly.
Investor · Jupiter, FL · Member since 2015 · 54 posts · 5 votes
11y
I've tried to contact Chip Towner on many occasions from a recent wire I sent. He has not replied or reached out. I'm beginning to look into wire fraud allegations. I even did a background check that came back clean. This may be a case of stolen identity to commit these fraudulent transactions. He seemed to have a legitimate profile on BP, as well as FB and Twitter along with his websites.
If you guys hear any more info, please keep me in the loop. Not sure if it will resolve anything, but I'm ready to take any legal action necessary if I don't communicate with Mr. Towner soon.
London, London · Member since 2014 · 3 posts · 0 votes
11y
Pat,
A client of mine has filed complaints against Chip Towner with the FTC, FBI, Alabama and Arizona Attorney Generals offices.
The FTC asked that as many victims as possible contact them so that they can proceed better against Chip. They can contact the FTC complaint line at 877-382-4357 and make a claim. The reference number for our complaint is 65760294. Please share this number and the FTC request on message boards or emails, etc as much as you can so that we can get the word out for all scammed victims.
I just saw this sign today, it said Investor seeks apprentice P/T $5,000 / Month F/T $10,000 / month. And this one was a printed bandit type sign
This exact sign has shown up EVERYWHERE in the Maryland area north of DC. It could be all over, but in the last few weeks, I've only been in this area. I called it and it was Google voice stating it would try to connect to me. I was actually expecting to hear a message. I'll call it back when I actually have time just to see what it is. I'm not looking to be an apprentice but with the amount of signs I've seen, it's clear that whoever this is has spent THOUSANDS. I've literally seen well over 100 signs just where I've been and I know there are a lot more I haven't.
Investor · Clinton, MD · Member since 2014 · 5 posts · 0 votes
11y
I made the call on a couple of these. We have 3 different kinds in PG county being placed around the towns on bandit signs.
The first is a "1-on-1 Investor Training" which is a "Investor Academy" looking to sign people up for a fee for classes.
The second is a "Flip This House" seminar that has been done by the guy Armando from the TV Show. Another guru deal.
Last, was one similar to what you'd seen...looking for an apprentice for some type of monetary return. When called, google line forwarded to a couple who instead of looking for newbies were actually looking for investors to participate in a syndication. This one was several months ago so I'm not exactly sure on who it was but it was a group of 3-4 people from NC on up looking for investors to collaborate.
Wholesaler · Mesa, AZ · Member since 2015 · 6 posts · 5 votes
10y
Hi guys, Ive read through and I am amazed at how much negative feedback with the bandit signs. First, its what you learn to do with little to no money. And it works. I wholesale from those leads. I also call everybody on the other end of those signs and some develop into relationships and some don't. But they absolutely work. And if you can only afford a sharpie and you find some cardboard then I commend your hustle.
Second. I am with Renatus. I wont "pitch" anybody because I don't need to. I will tell you the education is up to date and top notch. I started with a "Guru" program. I spend twice the money for a box of CD's and a 1800 number. No mentor, no community, no classes. And If I wanted that, it was another $$$.
Now, I work side by side with local investors in our community that are in Renatus. Some have been in a day, some have millions in the bank and see the opportunity. I will tell you I am a Full Time investor and I make 40K a month with the program. I also flip and wholesale.
Real Estate Investor · Apache Junction, AZ · Member since 2013 · 2 posts · 0 votes
10y
Yes, they are signs by mostly people that haven't done a deal looking to profit from you selling some program. Most likely Renatus which is a spin off from Nouveau Riche. Renatus is started by Bob Snyder who was partners with Jim Piccolo when they ran Nouveau Riche. Jim's now pitching internet stuff to get your money and Bob is pitching a similar program to Nouveau Riche called Renatus. It is in the form of an MLM as mentioned.
Real Estate Investor · Elk Grove, CA · Member since 2014 · 4 posts · 0 votes
10y
No it's not a scam. What evidence do you have to support your unfounded hearsay? What credential do you have? You have not produced any facts to support your unfounded hearsay.
Investor · Waukesha, WI · Member since 2011 · 199 posts · 97 votes
10y
I saw the "Real Estate Apprentice" ads on Craigslist locally, and called because I was curious and thought it could be helpful. I forget the name of the company, but there was a guru setup, and my potential "mentor" was not the same person as the guru, who was mostly unavailable. When I started questioning my "mentor", it turned out the "mentor" was really just someone else who joined up a few months earlier, and they actually had no experience at all in real estate and had done not a single deal, so I would have known more than the "mentor". (quotation marks intentional...). I declined to join the club at that point.
No it's not a scam. What evidence do you have to support your unfounded hearsay? What credential do you have? You have not produced any facts to support your unfounded hearsay.
Neither have you...
The definition of "Scam" can also include charging thousands - for just hundreds of value, if that!