We signed up for Connected Investors 9-4-16. At the same time we where gullible enough to likewise put out information through the CiX site looking for lenders. Allegedly all the lenders on the CiX site have been vetted and are legitimate. Having said that, let me share with you what we've learned and experienced in the time (nearly 6 mos) we have been on this site.
!. Since 9-4-16 we have been contacted by 63 so-called private money lenders not affiliated with CI or their supposed list of vetted lenders. Not 1 lender has proven to be legitimate. Never mind the qualification that may have been requested. When these lenders were investigated; addresses turned out to be phony, licenses when claimed false and virtualy 61 of them wanted up front fees in order to process the loan. The smallest upfront fee was $1200 and the largest $10,000. 58 of the lenders required copies of our passport.
14 lenders were in the criminal data base of Interpol; 28 were in the in the financial crimes data base of Nigeria and 4 were listed in the Interpol data base connecting them to Russian mobs!
2. Of the dozens of REI's we shared deals with; not one was able to complete a deal. Ultimately it always boiled down to their inability to close due to funding problems. (Lack of money period in 85% of the transactions).
3. It is true that Ross Hamilton as assembled the largest social network for real estate investors. And like all the gurus, (Childress, Dave Galegor, Cantwell and the list goes on)...they pitch their seminars and courses; charge ridiculous amounts of money for outdated or information one can obtain for free with just a little bit of effort. The stats for 29,000+ investors on CI, who have successfully built or substantially expanded their business through CI is less than 5%. Just ask some of those who are begging for business hookup...how many deals have they closed directly with another CI investor. You will be shocked!
4. Rip-Off Report has plenty of people that have finally awakened to the fact that CI is nothing but a very cheap and ineffective gathering spot for REI's wishing against hope that somehow they will connect with a successful transaction.
5. During our miserable experience we presented 14 deals; not one of them closed as a result of CI contacts. We did however close successfully all 14 by simply using reputable resources such as Oncarrot, AWeber, Sales Genie and several other sites. If you pay attention to these gurus you begin to realize they are similar to a "tag team" wrestlers on WWF (fake too by the way)...one so-called "expert" REI will ply his crap for a while and then all the sudden another guru pops up touting the advantage of using this other gurus slop...but in the end its all the same swill.
6. Ross Hamilton knows full well the kind of people that promote their garbage on his site. In fact we know that two separate state law enforcement agencies are currently investigating several so-called lenders who were advertising on the site.
7. One of the most glaring signs of the scam oriented site that is CI...should be the fact that CI and CiX support Josh Cantwell. Cantwell is even more odious than CI.
In short we have determined to work with several agencies to see that CI is held accountable for the rip offs and scams that are perpetrated daily on the site.
If you are truly in search of legitimate funding; private or otherwise, you will find that real, honest lenders have nothing to do with these kinds of sites. They realize that licenses and possibility of severe criminal prosecution isn't worth the risk. Do your due diligence and search out legitimate lenders.
It's worth noting that COGO Capital is on the CiX "hit parade" but I can tell you with certainty that our experience has been nothing but 100% positive. They have funded many of our deals. Another agent of integrity can be found at funding by mary at g mail.
8. Lastly in taking the CI training we soon discovered that it is a gigantic sales pitch for more money and products that are never delivered. Again as we have reaffirmed in our business; there are far more effective products and tools available for ultimately far less money. The deals referenced above all came to a successful close as a result of those tools. Oh...and by the way we made a total of $143,582 total off those 14 deals. CI had virtually nothing to do with any one deal...period.
I will give credit however to CI, in that we learned a multitude of things NOT TO DO and how to better refine our associations with those who are real REI's.
Conclusion: Connected Investors is a rip-off, scam and nothing short of a criminal enterprise!
interesting ... I looked at CI and did not like it.
however be aware that those same nigerian scammers troll BP.... anyone looking for up front money is until proved otherwise a scammer. end of that discussion.
CI wanted me to advertise on their site for my funding operations I refused to do so.. Just like I don't advertise on BP... too many rookies drive you nuts.
Crooks are everywhere. CI, Craigslist, BP, anywhere they have an opportunity to find a sucker. Note the most common trait all the ripoff lenders have: they want advance fees.
Thank you for the heads up. I've been checking out CI and haven't been impressed. Even less impressed with Josh Cantwell. You saved me a lot of time!! Thank you!! 🙌
Thanks for the tip on avoiding Cantwell, got on his list and just unsubscribed. Ahhh, the Guru's, hate them also, you are so right, avoid all Guru's...
And i found a great way to quickly find out if any lender is a scammer. In Google Chrome, right click on the picture and "Search Google For Image." I have done that with some "lenders," and it exposes them as the fraud they are. Great post to share with us, thanks!
Oh this is really sad. Thank you so much for this. I applied for funding on COGO but the interest rates were to high as well as the points.
I was just emailed this by
Hello, I purchased your loan request , may I know if you are still interested in the loan and how much are you willing to collect?and provide more details on it. please reply email back to receive more info,thanks
How can they buy my loan ?I havent received a loan,yet?
lender one is the only request I made, once. There not legitimate either?
So I am getting my info sold to highest bidder?
Wow!! Thanks for sharing.
Great info. Thanks for sharing.
Agree that CI is not living up to Ross Hamilton's boasts when the site first came out. I was an early adopter, joined in 2015, but since then have seen it go down hill. I joined for the CIX, only to find that I get one, maybe two lenders responding to my applications.
I am out as soon as my current membership expires.