is this a scam or legit?

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is this a scam or legit?

Travis Bobo
Boiling Springs, SC · Member since 2017 · 18 posts · 5 votes
Hello, I am new to the forum and somewhat new to real estate investing. I have been in touch with the folks at Real Estate Sales LLC and FlipCheapHouses.com. They ha e a program where they send you leads of vacant homes and send you leads for cash buyers that allows you to get into wholesaling quickly. They also set you up with a mentor who has a vested interest in helping you do deals because they get a percentage of profits for the first year. the mentor is available by phone, email, or text 7 days a week and help you analyze and structure deals. They also guide you along in other areas such as flipping and buy and hold. Everything sounds legit and looks good on paper, but... I wonder if anyone hear has heard of them or has been a part of the training. Thanks for your help. Travis
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Derrick E.
Investor · The Creek, WV · Member since 2014 · 890 posts · 1k+ votes
9y
Originally posted by @Travis Bobo:

Thanks for quick replies.  One of the things that I like is that they focus mainly on wholesaling until you decide that you want to do something else. They evaluate your goals with you and help you work at your speed.  I like the comfort of knowing that someone as a vested interest in holding my hand, but I'm still a little skeptical.  That's not to say that the BP community isn't a big help.  You already have been. 

There are 3 levels

10k investment. 50/50 spilt on profits

20k investment. 70/30 split

30k investment . 90/10 spilt

If you want to continue after 12 months, the spilt is negotiable. 

I feel like it wouldn't be too hard for me to make a 10k-30k mistake on my own in the school of hard knocks. 

 No way would I pay someone else $10,000 just so they would take half of my earnings.

I think you could do better for yourself just using communities like this and taking $10,000 and to learn as young go.

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  • Nick C.
    Investor · Tampa, FL · Member since 2011 · 2k+ posts · 3k+ votes
    9y

    How much does it cost? 

    1Reply
  • Thomas S.
    Member since 2016 · 13k+ posts · 12k+ votes
    9y

    It is a legitimate way for them to make money off of inexperienced investors. In essence it is a way for new investors to avoid the process of self education in the field of real estate investing. They will likely make more off of you than you will off of them.

    9Reply
  • Andrew Johnson
    Real Estate Investor · Encinitas, CA · Member since 2016 · 3k+ posts · 3k+ votes
    9y
    Travis Bobo I agree with the "What does it cost?" thought process and question. Is it $99 per month or something that comes along with their $10,000 gold, platinum, super-secret coaching program? But overall the warning side for me is: "We can help you with ANYTHING!" Needs cash-buyers? Got 'em! Need a list of vacant houses? Got 'em! Flipping system? Got it! Buy-and-hold advice? Got it! Rehab deal analysis? Got it! One of my core beliefs is that you can't be great at *everything* and if someone tries to tell you that, they're selling you. Maybe this outfit is the path to great returns. I have no idea. But if I was going to pay for coaching I'd want it to be laser-specific. My experience on the forums is that everyone who touts a one-sized-fits-all system is (when you look at their profile) a paid teacher, coach, guru, etc. That's just me...
    3Reply
  • Travis Bobo
    OP
    Boiling Springs, SC · Member since 2017 · 18 posts · 5 votes
    9y

    Thanks for quick replies.  One of the things that I like is that they focus mainly on wholesaling until you decide that you want to do something else. They evaluate your goals with you and help you work at your speed.  I like the comfort of knowing that someone as a vested interest in holding my hand, but I'm still a little skeptical.  That's not to say that the BP community isn't a big help.  You already have been. 

    There are 3 levels

    10k investment. 50/50 spilt on profits

    20k investment. 70/30 split

    30k investment . 90/10 spilt

    If you want to continue after 12 months, the spilt is negotiable. 

    I feel like it wouldn't be too hard for me to make a 10k-30k mistake on my own in the school of hard knocks. 

    0Reply
    • Sara Smith
      Tulsa, OK · Member since 2016 · 4 posts · 0 votes
      1y
      Quote from @Travis Bobo:

      Thanks for quick replies.  One of the things that I like is that they focus mainly on wholesaling until you decide that you want to do something else. They evaluate your goals with you and help you work at your speed.  I like the comfort of knowing that someone as a vested interest in holding my hand, but I'm still a little skeptical.  That's not to say that the BP community isn't a big help.  You already have been. 

      There are 3 levels

      10k investment. 50/50 spilt on profits

      20k investment. 70/30 split

      30k investment . 90/10 spilt

      If you want to continue after 12 months, the spilt is negotiable. 

      I feel like it wouldn't be too hard for me to make a 10k-30k mistake on my own in the school of hard knocks. 

      Did you end up going forward with Flip Cheap Houses?
      0Reply
  • Derrick E.
    Investor · The Creek, WV · Member since 2014 · 890 posts · 1k+ votes
    9y
    Originally posted by @Travis Bobo:

    Thanks for quick replies.  One of the things that I like is that they focus mainly on wholesaling until you decide that you want to do something else. They evaluate your goals with you and help you work at your speed.  I like the comfort of knowing that someone as a vested interest in holding my hand, but I'm still a little skeptical.  That's not to say that the BP community isn't a big help.  You already have been. 

    There are 3 levels

    10k investment. 50/50 spilt on profits

    20k investment. 70/30 split

    30k investment . 90/10 spilt

    If you want to continue after 12 months, the spilt is negotiable. 

    I feel like it wouldn't be too hard for me to make a 10k-30k mistake on my own in the school of hard knocks. 

     No way would I pay someone else $10,000 just so they would take half of my earnings.

    I think you could do better for yourself just using communities like this and taking $10,000 and to learn as young go.

    9Reply
  • Account Closed
    Real Estate Agent · Las Vegas, NV · Member since 2015 · 2k+ posts · 1k+ votes
    9y

    The fact is I am starting to meet more coaches than active wholesaler,flippers etc In my business I am an active buyer of properties and source wholesaler thru local meetups reia meetings etc In every meeting their is a dozen people like you who want to learn and even more coaches who want to teach. I have found very little deals thru an actual wholesaler

    Re read what @Thomas S. wrote If you don't take the time to educate yourself, create your own business plan,and know the metrics of buying selling rehabbing wholesaling,marketing ,etc you will just be throwing money away like the hundreds of newbies flocking into the business 

    3Reply
  • Luis Canino
    Real Estate Entrepreneur · Gibsonton, FL · Member since 2017 · 17 posts · 11 votes
    9y
    You're better off going to a local meetup and rubbing shoulders with some experienced investors in your area. You would be pleasantly surprised what you find and that people are willing to teach and help for little to nothing if you're willing to be humble and offer some value for their time. Offer to run errands, make hardware store trips, bring capital to the table etc. In Essence trade something of value for their time, knowledge and ability to teach you or walk you through a flip/rental/rehab. Best of luck
    6Reply
  • Andrew Johnson
    Real Estate Investor · Encinitas, CA · Member since 2016 · 3k+ posts · 3k+ votes
    9y
    Travis Bobo I'm shocked you have to pay $10K - $30K up front! Wait...no I'm not. You are right that it's easy to make a $10K mistake as a rookie. I think the fallacy is that somehow a coaching program will immunize you from that mistake. But let's put that on hold for now... Let's take your statement of "I want to focus on wholesaling". How exactly are you going to make a $30K mistake? Are you going to run a $30K marketing campaign with zero results? I'm sure it's possible but how likely is it? I'm no fan of wholesaling because of the "if you can't flip it during escrow just walk away" but I don't know how you'd lose $30K on your first wholesaling deal. Side note, I'm pretty sure you can search the forums and see wholesaling mistakes, costs, etc. How do you qualify that coach? How do you know that I'm not that coach? How do you know that a coach isn't someone that just went through a training program? Do you take them at their word? Have you talked to a local student face-to-face about their experience? This isn't a free weekend seminar, it's $10K to $30K up front. But let's assume that they are on the level. In my opinion, you also have to look at these costs as a percentage of investable capital. If you have $30K to invest, do you spent 1/3 or 100% of it on a guru program? Probably not. If you have $3 million to invest it could be a different story. Most of the people on BP that I see in the forums don't have tons of cash sitting around. $30K would be a massive portion of their nest egg. Or worse, a program will advocate taking out a loan or credit cards to pay for the program. Anyway, if you want to go for the program, go for it.
    3Reply
  • Jay HinrichsBusiness Member
    Real Estate Consultant · Summerlin, NV · Member since 2014 · 45k+ posts · 66k+ votes
    9y

    @Account Closed  reality is 95% or more who think they can just pay to learn wholesaling will simply never do anything its VERY tough VERY competitive and a dead end for most..Frankly speaking the only ONE making money is the teacher.

    which I Segway in and I am thinking I should do this.. I am thinking of charging a very nominal fee say 200 bucks for the entire year .. and have weekly webinar of different subjects.. folks can tune in.. they can tune out.. I will teach them everything I have learned in the course of 42 years of buying and selling real estate.. building homes.. being HML how to work with private lenders what to look for etc etc.. I get 1000 people a week on my webinar I too can then get a TV show.. and there you go I can quite being an investor builder.. just teach others to do it.. There is HUGE MONEY in teaching as we know..

    Podcast Guest on Show #222
    JLH Capital Partners51 Review
    WebsiteView Page
    8Reply
  • Travis Bobo
    OP
    Boiling Springs, SC · Member since 2017 · 18 posts · 5 votes
    9y
    One last bit of info. They also give you a written guarantee that they will help you profit $50k in the next 12 months. If you don't, they will work with you as long as it takes to make 50k and you keep all of the profit after the 12 month period. This makes me think that it's somewhat legit I get what you all are saying and I really do appreciate your help. I guess my original post should have been, "What is the best way to get started in real estate investing today, with 20k to invest?" Thanks
    0Reply
  • Jay HinrichsBusiness Member
    Real Estate Consultant · Summerlin, NV · Member since 2014 · 45k+ posts · 66k+ votes
    9y

    @Travis Bobo  the written gurantee is WORTHLESS  they just fold up and move on.. what are you going to do..

    there is no free lunch in real estate and there is no buying your way into success its earned and its dog tough do not let anyone tell U otherwise.. listen to Steve he knows as well.. he is a for real investor who does deals.. @Account Closed

    Podcast Guest on Show #222
    JLH Capital Partners51 Review
    WebsiteView Page
    3Reply
  • Travis Bobo
    OP
    Boiling Springs, SC · Member since 2017 · 18 posts · 5 votes
    9y

    Message received! Thank you to everyone for your help. 

    1Reply
  • Derrick E.
    Investor · The Creek, WV · Member since 2014 · 890 posts · 1k+ votes
    9y

    The company can just go bankrupt and not pay you anything. Then the same ppl open up under a different name and start the process all over again. 

    If you have $30k to invest, don't waste it on this. 

    1Reply
  • Willie Singleton
    Investor · Gulfport, MS · Member since 2017 · 5 posts · 5 votes
    9y

    Let me start by saying I don't personally know if Real Estate Sales, LLC is a scam or legit. I contacted the company after hearing one of their ads on radio recently. A man called me within 24 hours and asked me some questions including whether or not I had at least $10,000 to invest. He then said I would be contacted by a woman who would explain how their company operated in more detail. She called me today and explained everything you stated in your posts. She also said they have been in business for a long time, that they had proprietary software that used county records to find vacant properties in any state and that they were "A-Rated" by the BBB. When I asked how exactly did their software locate "vacant" properties she said she didn't know because that wasn't her area of expertise.

    I pulled them up on the BBB website and the good news is they are listed as having an "A-" rating. They are located at 6565 Americas Parkway NE, Suite 200, Albuquerque, NM. They were incorporated on 4/3/2007. The not-so-good news is they are listed as being in business only 2 1/2 years, they have zero reviews and 3 registered complaints. All three complaints are listed as "Complaint Details Unavailable". Again, I don't know if their a scam or legit but if they've been in business as long as they say they have, shouldn't they have at least one positive review?

    5Reply
  • Joe H.
    Investor · Albuquerque, NM · Member since 2016 · 25 posts · 18 votes
    9y

    I live in Albuquerque and 6565 Americas Parkway NE, Suite 200 is a Regus virtual office.

    Also $10,000 to $30,000 is a significant chunk of money. I don't wholesale, but that would be enough for a downpayment on a property here.

    3Reply
  • Account Closed
    Investor · Singapore · Member since 2013 · 1k+ posts · 3k+ votes
    9y
    I didn't have to read past the title of the post to tell you SCAM. Come on. If you have to ask then it probably is a scam.
    0Reply
  • Jason D.
    Rental Property Investor · St. Petersburg, FL · Member since 2017 · 3k+ posts · 4k+ votes
    9y
    I'll just ask a simple question.... If you have $30k to invest, why wholesale? Buy a flip, or house hack a 4 plex, or BRRRR a rental? Those are all more legitimate ways to get into real estate investing if you have cash.
    0Reply
  • Jacob Kaaekuahiwi
    Rialto, CA · Member since 2017 · 10 posts · 3 votes
    8y

    I started the program on October 2, 2017 and I can say for certain that I would NOT still be involved in the Wholesale business if I didn't start with a coach and a system provided by a company like this one. It's a tough market and there's a lot to learn. There are many programs out there, but I happen to hear a radio ad on this one and I have been very pleased with my mentor/coach and the system in general. Obviously there's always room for improvements with any company, but they are real people who care about their clients and are invested in your success because when you close deals, they make more money. I went with the 10k startup because that's what I was comfortable with and I really wasn't completely confident it was a legit program. I did my due diligence, but I still had doubts/skepticism. They provide the leads every month, you send letters and field the calls as they come in. I will say this, you will need to do much more reading, training, research beyond what training they provide. Your coach can recommend various books, tips, etc., but unless you're really hungry, don't waste your time or money. You'll need to attend REI club meetings, talk to a lot of other people, and much more if it's gonna work. Your coach is there to bounce ideas off of, encourage you when things get rough, and guide you as you move along, BUT move, you must, cuz no one can steer and ship that's not moving. So, basically what I'm saying is, if you're really serious to get started, go for it.

    I closed my first deal in January for 28k. I just closed 2 deals this month totaling 18k. It’s definitely real. 

    3Reply
  • Tyreke Gardner
    Wholesaler · Baltimore, MD · Member since 2017 · 1 post · 1 vote
    8y

    Im a little late but i made the mistake in signing up and 2 years and more then $20k later i havent made a sale with them. Their leads are Absoloutely horrible I received 90% of the letters back from mailers the script is horrible and after they get your money , their excellent mentors or cpaches disapper they are the biggest scammers out there. They threated to sue me for going to The BBB and complaining . 

    1Reply
  • Neil J. Beller
    Attorney · Las Vegas, NV · Member since 2018 · 3 posts · 1 vote
    8y

    My name is Neil Beller, attorney at Law, and I represent Real Estate Sales, LLC – Flip Cheap Houses ™.

    In 2017 Tyreke Gardner and N’shaina Boyd made essentially the same complaint to the Better Business Bureau in New Mexico. My office responded to the Better Business Bureau complaint on behalf of my client and we prevailed. Click Here to view response (https://www.realestatesalesllc.com/wp-content/uploads/2018/06/6-19-2018-Tyreke-Gardner-and-N’shaina-Boyd-LAWSUIT.pdf).

    See tomorrows link as to the decision from the Better Business Bureau in New Mexico and the ‘frivolous’ review that was posted June 14, 2018 by N’shaina Boyd (Gardner) and was rejected by the Better Business Bureau in Nevada on June 18, 2018.

    Based upon the above we anticipate bringing a defamation suit against Tyreke Gardner and N’shaina Boyd which will include asking for compensatory and punitive damages in Nevada.

    2Reply
  • Neil J. Beller
    Attorney · Las Vegas, NV · Member since 2018 · 3 posts · 1 vote
    8y

    Per the below links, these two decisions show what lengths people will go to distort the facts in their ongoing attempts to defame and hurt people/businesses economically like Real Estate Sales, LLC.

    This is the New Mexico Better Business Bureau Response:

    https://www.realestatesalesllc.com/wp-content/uploads/2018/06/Better-Business-Bureau-Response-Tyreke-Gardner-and-N’shaina-Boyd.pdf

    This is the Nevada Better Business Response:

    https://www.realestatesalesllc.com/wp-content/uploads/2018/06/Better-Business-Bureau-Response-Tyreke-Gardner-and-N’shaina-Boyd.docx

    Neil J. Beller

    0Reply
  • Ron S.
    Paradise, CA · Member since 2015 · 1k+ posts · 871 votes
    8y
    Originally posted by @Neil J. Beller:

    My name is Neil Beller, attorney at Law, and I represent Real Estate Sales, LLC – Flip Cheap Houses ™.

    In 2017 Tyreke Gardner and N’shaina Boyd made essentially the same complaint to the Better Business Bureau in New Mexico. My office responded to the Better Business Bureau complaint on behalf of my client and we prevailed. Click Here to view response (https://www.realestatesalesllc.com/wp-content/uploads/2018/06/6-19-2018-Tyreke-Gardner-and-N’shaina-Boyd-LAWSUIT.pdf).

    See tomorrows link as to the decision from the Better Business Bureau in New Mexico and the ‘frivolous’ review that was posted June 14, 2018 by N’shaina Boyd (Gardner) and was rejected by the Better Business Bureau in Nevada on June 18, 2018.

    Based upon the above we anticipate bringing a defamation suit against Tyreke Gardner and N’shaina Boyd which will include asking for compensatory and punitive damages in Nevada.

     smh...

    0Reply
  • Neil J. Beller
    Attorney · Las Vegas, NV · Member since 2018 · 3 posts · 1 vote
    8y

    Below you will see the link, showing the Complaint has been filed.

    https://www.realestatesalesllc.com/wp-content/uploads/2018/06/COMPLAINT-6-21-18-1.pdf

    Neil J. Beller Attorney at Law

    0Reply
  • Caleb Heimsoth
    Rental Property Investor · Durham, NC · Member since 2016 · 7k+ posts · 7k+ votes
    8y
    If you have to ask if it’s a scam it probably is.
    1Reply
  • Louis Van Der Westhuizen
    New to Real Estate · 92656 · Member since 2018 · 61 posts · 9 votes
    7y

    Travis 

    I'm curious about what you did and how it worked out. Did you use the lead and coaching service and did that organization treat you fairly? 

    0Reply
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