Any Experience with Carnegie Prosource Tax Liens Training?
Annapolis, MD · Member since 2015 · 12 posts · 2 votes
Is anyone familiar with the Carnegie Prosource Tax Lien training? Has anyone taken their training/used their software? I went to the free seminar and paid $300 for the 3 day class next week. I have wanted to learn about tax liens, and this seemed like a good step. It doesn't sound like they are selling a system but rather they profit when you buy more advanced trainings. They say they provide all who attend the training an easy to read list of liens in whatever county you choose and access to their software...free... I'd love any insights from those with experience in tax liens or this training group. Thanks!
@Annie Bollini I never heard of them. $300 is probably a good way to learn some basics. But keep your wallet in your pocket. I suspected it would be as @Adrienne Medina mentioned. They make their money from advanced training and selling liens. My strong belief is the training will still not give you what you need and the liens they are selling are crap. It sounds like they are playing on your ignorance.
There is no reason to "sell a lien cheap" for the original holder of the lien unless they know they have a looser. It would be a rare situation that someone would sell at a loss when they know they can hold on a recoup their investment with interest. I have sold some of my liens but I sell them at a Premium not a discount.
"we make it up in volume" is generally a bogus line. Very very few businesses can do that.
"We will help you vet the liens" So they are going to help you get the best ones so they are stuck with the worst ones?
"with this method of buying after redemption" The redemption period in many areas doesn't end until the foreclosure is final. That is what "Foreclosure" means; to foreclose the right of redemption.
"1 in 10 end in a property as opposed to 1 in 100 for a do it yourselfer." Other companies that do this are selling crap liens and the reason they have a high foreclosure rate is it is property no one wants.
Tax lien investing is a very competitive business. The margins are slim especially for the big guys. There simply isn't room for a middleman and you to make a profit.
Yes learn what you can and you can do well in tax lien investing. I do. Rely on a company like I suspect these people are and you are asking for mediocre results at best. Why pay big money to get poor results?
I base the above on 15 year of tax lien investing. Annie, I invest in MD so I know specifically what I am talking about here.
Yep, that's outrageous!
That's good to hear, @David French!
Adrienne &David,
I was too in that training. I went to the free 1-day seminar and then to the 3-day seminar with Marie. I thought it was awesome but, just like you, I was never told that I would have to pay $34K for access to their inventory. When I approached the speaker, she told me that all she did was the 3-day seminar. I started researching Prosource but couldn't find anything just that they started in BBB around 6/2018 which I thought was wayyyy too recent to claim so many years of experience as they did. Another thing that called my attention was the fact that, if those people are making so much money as they claimed, why are they traveling away from home to give speeches/consult. You will think that if you are so successful and making so much money, one would like to enjoy family life. Isn't that the whole point of having 'passive income?'
So many things that didn't add up in my mind!
I'll be requesting my $597 refund shortly.
Thanks for the input!
Thanks for all of these posts to my question! Good questions and insights. I attended the 3-day training. As
@Adrienne Medina said, there were a few hours of useful info. But, the entire first day was dedicated to making a case (full psychological tactics) for why we needed to spend $39K (not $34K for us) to buy their system so we can stop being inactive and one day be able to retire. The 2nd afternoon we talked about details for tax liens/deeds but not enough to be able to leave there and execute. I skipped the 3rd day. I would not participate again if given the chance but I'm glad I took a chance and tried just in case...
So with the 3 day seminar for the $600 you are supposed to have website access for life. Are you able to click and purchase tax liens through the county like they show in the free seminar for that? Is the 34K to access their private inventory?
My understanding/memory is that you get access to their tools (trainings, calculators, etc.) for 1 year but not their inventory.
@Adrienne Medina As some of our colleagues have pointed out earlier tax liens are a great place to invest money given the high interest that they pay out. There are, instances where a lien investor may end up with a property. But you still need to do your research as you do not want to end up with an old gas station with an EPA lien or a parcel that is landlocked with no access. If Property acquisition is your goal I would suggest researching states that perform deed sales where the county has performed the foreclosure process and the investor is purchasing the actual deed to the property. In either case do your research. The counties or law offices in charge of handling the tax rolls are more than happy to help with your due diligence. Good luck!
By the way, a good book that will get you started on the right path is titled “Zero risk real estate” by Chip Cummings. Peace.
Paid $600 to attend 3 day workshop. Content covered was very general and could have been covered in less than 1 day. Lots of fluff. Presenter was rude, used profanity and avoided questions that he didn't want to answer. On the last day they had assigned seats. Me and my guest were placed on the last row at the back of the class. I think it was so that it wouldn't be so obvious that they were ignoring us when we raised our hands to ask questions. The 3 day workshop was designed primarily to sell you a $40,000 program not to teach you about tax liens. They said complimentary parking and we ended up having to pay $10 a day. At workshop was told that if I didn't attend all 3 days I would not be given access to the website that I already paid $600 for. I also think that this company changed its name because they don't want to deal with all of the negative reviews that were attached to their previous name. I think that they are affiliated with or previously were TLBC. I asked for their business cards before I left and was told that they couldn't give them to me unless I was moving forward with the $40,000 program. They said that it was company policy to withhold their business cards if I wasn't going to purchase the upgrade. Something isn't right about that. Do your research and due diligence. Don't be part of the "herd" that gets taken advantage of.
Hello,
I am from CA and wanted to invest in tax deeds and tax liens.I am looking into pro source and
Tax Auction Investors and also US Tax lien association.
Wanted to learn more about this type investing and would highly appreciate any feedback.
Also would like to meet someone local who has some knowledge in this area.
Thanks in advance,
SK
I've attended several U.S. Tax Lien Association trainings and would highly recommend them for thoroughness, follow-up, and actual, real education.
I went to a 1-day for Prosource and actually had planned to go to the 3-day, but have had poor follow-up from the people who supposedly were helping me find an alternative to the one I couldn't attend.
I have had a few follow-up calls from the people whose job it is to sell me on their system or their IRA setup, but the people who are supposedly "experts" haven't been able to answer some of my questions and the answers to some were incorrect, which I found out by just asking Siri to define a term! So their "professionals" couldn't answer simple questions or avoided answering or got answers wrong and their follow through once they think they've sold you something is basically non-existent. I was already skeptical, but reading these reviews has convinced me! Thanks so much to all who commented! Seems like they can change their name, but not the content of their character or the quality of their offerings!
I feel so silly. I’m aware of seminars and how they talk you into spending a ton of money with them to get a guarantee return. Hadn’t planned on attending another. However the thing that initially caught my attention is wanting to learn more about tax liens being as though I’m a Real Estate investor and then the access I could gain to a portal to look into tax liens in counties throughout the country.
I would say about 11:30a on Friday, the first day of a 3 day seminar I realized I had been bamboozled. I didn’t need a pep talk I needed info on what I signed up for. It’s all fluff and I left after the first hour of the 2nd day and never returned.
The whole point of the 3 day seminar is to convince and show you how to rob Peter to pay Paul. It’s like they think they’re speaking to a bunch of idiots. I was very disappointed that I wasted my time with Pro Source!
I also requested a refund.
@Calvena Jordan I originally posted this. I felt the same way; it was astounding. But, I think we are all seeking knowledge and trying things so it's good we took action and tried. I hope you don't continue to feel silly! We just all need to stay away from those gimmicky seminars. I don't go to them anymore. Thanks for adding to the post.
Absolutely, I’m still working on my wholesale business, full force and yes NO MORE seminars for me lol!!
I’ll also be getting my refund within a couple of days. They didn’t even ask questions as to why I wanted a refund, it’s like they know people are going to ask for refunds and they don’t want any bad press.
Thanks for sharing!
I attended the 3 day event in Las Vegas, the dates: from Aug 2-4, 2019. I paid $597.00. The invoice listed that I will have access to prosourcetaxliens.com, training videos, secondary market training, bonus downloads, digital kit, investor forums, state resource guides, finance network, tax deed evaluator, county auction calendar, county auction lists, online resource links, and more. Also included in the list - Access to tax lien hotline team and support staff
- Online Auction Center, participate in daily practice auctions and live online auctions to invest from the comfort of your home.
On the first day of class, it was already strange because this is a class that sells online portal on how to search for property to invest in and they don't allow you to use your laptop to take notes. The trainer claims that she is very successful and make loads of money in real estate. However, she told the class of 100 people that she won't pay the $400 per device price to get online at Marriott (where the training is held) the class did not get to see how the online portal operates. How is it possible that a successful real estate investor can't pay $400 to get herself online to show the class how the online portal works????? On the 2nd day of training, they told us there's another software. This one is programmed by purchasing data from American Title and to access it we will have to pay $40,000 to buy extra training to access it. They would not give us the log in info to the online portal as promised. We were told we will only have access to it after 3 days of listening to their sales pitch to buy the extra training which cost $40k. We were also told to call our credit card companies to up our credit limit and was told to put the $40k amount of extra training on our credit cards. The trainer and other salespeople told us to not worry and we will have access to the online portal. But on Monday (Aug 5th) when I tried to log in, I got the message below:
ERROR: The password you entered for the username tempuser is incorrect.
I tried contacting their support email address and was not given a reply back.
@Beatty Jo It sounds like to me that there's a lot of value in these $40,000 programs. After reading over several company sites that are similar to ProSource Tax Liens, i.e fortune builders, tax lien association, etc. ProSource offers the biggest bang for your buck by far. They also have the best reviews overall. You're never going to get top notch training and education for free, and companies have to make money so why would they give you access to all of their resources without you paying anything? Doesn't make any sense to me from a business standpoint.
I've been to one of their seminars, and while i didn't make the $40,000 purchase due to lack of funds, I can definitely see the value in it and why a lot of people are buying it. If it wasn't worth the money, wouldn't there be a LOT more negative reviews about it?
It just seems that a lot of people on this thread expect to receive access to all of their resources, tools, mentors, connections, inventory and what not for free. I don't get it.
PS. No matter how much money I made, I wouldn't want to spend $400 a day for wifi access either. That's absolutely outrageous.
After the seminar, a lot of us met and talked about it. We talked about how dumb the people who bought is... These people were told to call their credit card companies to up their credit limit. So if they have 4 credit cards and increased their limit to $10000 x 4 they can then afford the course. These are people who are using their retirement money or those living paycheck to paycheck. We all paid $699 to attend the course and didn't get any information we can't learn online or on bigger pockets. So it was a terrible waste of money and 3 full days of time. Buyers beware!