Is anyone in the Tulsa, Oklahoma area going to the real estate investor association seminar tonight?
Where to Get Money Now with Jay Conner
I've never heard of the guy. He's not an active BP member, but nobody's perfect.
I'm planning on going to the meeting tonight. Not necessarily because of this guy, but because I've never been to the monthly meeting yet and I'd like to network and meet some more cool people like @Bart Ford .
@Stephen Lassiter now that I'm back in town we need to plan a Tulsa BP happy hour.
I won't be able to make it tonight. I tend to go to the landlord related ones and skip the flipping, tax sale ones. This one interests me but other obligations take priority.
Absolutely, @Bart Ford . Maybe we can talk about it at the meeting tonight.
Sounds good. I'll be there
Unfortunately I can't make it tonight. Prior obligations are preventing it. Have fun!
How was it? Any details to share?
His talk was about private money lending. The plan boiled down to this
- Get a verbal commitment from a PML
- Find a property that you can get for 70%ARV - Repairs
- Borrow 75%ARV from PML.
- Buy property, do repairs'
- Sell Property, pay back PML.
In order to find PMLs he was willing to give you his course for the low low price of $1497. But that's not all...
Basically a big sales pitch with little content. He claimed he would give you access to 8000 new PMLs a month. Basically by doing public records searches and giving you a list of names of people who have made recent loans to cold call with his script in hand.
The kicker was when he offered to refund your money if, within six months, you get PM using his plan and write him a testimonial for advertising purposes. So, I guess that's sort of a perverse money back guarantee, like saying "If this BS actually works, we'll give you your money back!". As you can tell, I was pretty unimpressed.
Ok. Thanks for the info. Fortunately I already have my own PML and do this exact thing....assuming I don't use my own cash. Kind of hard to believe he thought there was $1500 of value in his idea. To each his own.
@Bart Ford I seem to recall something about a beer sometime.
@Bart Ford and @Chris Simmons I was also a bit put off by his sales pitch, but was able to glean a few useful gems. One thing he said that I really liked was regarding getting a new PML on board. He said, "if I don't pay you, the house will." I thought it was simple and clever. He was a little "slick" for most okie's in my opinion. I did have a talk with another attendee and he has had Jay's program for 6 months and thinks it was worth it. So I might take another look at a later time. If anything, I'm certainly curious to hear this amazing CD of his. However, I did not go home with any snake oil.
oh, and I like beer.....
Since you got a few useful gems from the meeting, then it was worth it. There was no obligation to buy anything. We can't get the Guru's to come to Tulsa if they don't offer something for the people who may want more education. We can get our gems and run with them or we can try to learn it though trial and error. And if you got a few gems in 90 minutes, those who bought it will get a lot more in the material. But the few gems you got, were more gems than the people who didn't come to the meeting at all.
I think the person you referred to, that already has the material, actually does more deals in a month than most people do in a year. Education can help you get there faster instead of learning the hard way. But both ways are better than not doing doing anything at all.
My gems from the meeting where what not to do to cross the SEC and he made some good points on that with the way you word things. I got the material but have been too busy to go over it yet, my vacancies have taken first place, but this week I got one house ready, and a deposit on one more, so I can work on the other mini rehab rentals I bought this year.
Its kind of like my new sign to be installed next week on Memorial and 61st street. Its with all the other tenants in my building so it may get lost in the whole sign itself, but for $300 set up and $50 a month, if I can get at least one deal out of it a year (or two years), it will be money well spent. The sign itself has its own phone number so I can track the results. That number costs $4.99 a month so I guess my total cost per month is $54.99 per month.
Oh, and I like beer also.
I like beer
I should clarify that my criticism of the speaker should not be construed as criticism of the Tulsa REIA or the individual organizers of the event. I can imagine that it is expensive to get speakers in and if they have a product to pitch, they don't charge as much. I just didn't find value in the product offering and wish there was a little less fluff in the presentation. The latter being true of almost every real estate presentation I've heard.
I didn't take it as criticism against Tulsa REIA.
This is a typical situation for any REIA or speaker with a product:
Speakers will have some fluff in a short presentation (90 minutes or less) unless you are in a training session, but they also share some good information in the time allowed. Many of the courses offered come with 1, 2, 3, or more days of training. You can't fit multiple days of training in 90 minutes.
Also the crowd is mixed with all levels of people: some brand new, some with a little knowledge, some with a little experience, and some with lots of experience. Because of this they have to keep it on level for everyone.
We have had speakers talking about such advanced topics and training that it went over 98% of the people's head. People got up and left because they were lost on the topic. Think of it as people in general. You have a room with a mixture of elementary school, middle school, high school, and college students. If you start talking about Advanced Physical Chemistry II you will lose most of the crowd, even many college students.
It that scenario, the speaker will have to keep it at an elementary level and some advanced stuff, but not too much. Also you will have some fluff so that they can offer their product.
There are "nuggets of information" in the presentation, thats the wording I use. Some people call them "gems" but it all means the same: little pieces of valuable information mixed in everything else to try and satisfy the whole crowd. And in any room mixed with different people, there will always be complaints: too basic, too advanced, too much fluff, too hot, too cold, and the list goes on.
Most of the presentations and events I go to in Oklahoma and other states is 99% stuff I already know, but I can usually get 1 or 2 valuable nuggets of info that make it worth it for me.
I know I am not going to change your mind, I just wanted you to understand the whole picture, and why it seems that way for almost every real estate presentation you have heard.
Also, even if a particular topic is not what you like, the networking and meeting other investors, contacts, pros, etc. is also a valuable part of the main meetings.
Also since everyone seems to like beer, should that be offered at the meetings??
when is the next tulsa REIA meeting? I'd love to meet some local independent investorsâ¦ especially if there is beer.
@Jason Windholz you bring up some very valid points from a perspective I hadn't considered. A part of me wanted to buy the program at the meeting. Having little time to research it, and the other investors that I talked to about it hadn't been able to use it yet, I decided to not make an impulse purchase. Like I said before, perhaps I'll revisit the purchase at a later date.
The meetings I have attended have ALWAYS been worth it to me, and I for one really appreciate the efforts and opportunities of Tulsa REIA.
This secondary beer thread is cracking me up....
I'm currently attending Ron Legrands Quick Start program right now. Jay Conner spoke today. I'll admit to being a little turned off once I realized it was a sales pitch. But I guess thats what all these seminars are, getting a little info, buy something, get a little more info, buy something else? I thought seriously about his program but feel I've spent enough for now? I need to start implementing what I know now before moving to something else? At least for me, I need to focus on certain things right now and stick with that.
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