Lee Arnold products
Boonsboro, MD · Member since 2011 · 137 posts · 26 votes
Lee Arnold products
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Jay HinrichsBusiness Member
Real Estate Consultant · Summerlin, NV · Member since 2014 · 45k+ posts · 66k+ votesI have had clients try to get loans through Cogo and they never materialized.. just sayin.
no mystery here there are 25 plus guru's out there selling the same stuff and same coaching its all interchangeable.
only you can make this work @Carmen Severson its you not the system.. real estate never changes..
buy low add value sell.. 100% financing for someone new is simply not attainable in most instances.
you can try Do Hardmoney they talk about 100% financing and its another Utah based company.. you either have to pay 3k up front for their materials or you don't have to pay anything.. some say you do some say you don't. the owner of the company says you don't.. but others have sent me PM's that say that's not true.. so who knows.
the issue is with any 100% financing to a new investor finding the deal that works is the hard part.. many just will never get a deal that has enough equity spread as competition for the deals is keen by those who actually have money or funding in place.. that's the major issue.. finding the deals that work and have the necessary spread..
33 Replies
- Wholesaler · Arnold, MO · Member since 2013 · 348 posts · 183 votes12y
Terry,
Check out this link. It's an old thread on Lee Arnold. After reading it I can't tell whether he's legit or not. Cam Dunlap is legit but makes a lot of money pimping other guru's products and you have to trust that he did his due diligence.
- Wholesaler · Arnold, MO · Member since 2013 · 348 posts · 183 votes12y
Darn it! It seems like my link goes nowhere. Do a search here on BP for Lee Arnold.
- Boonsboro, MD · Member since 2011 · 137 posts · 26 votes12y
Hi Vince,
thanks for the info!
- Wholesaler · Largo, MD · Member since 2008 · 98 posts · 11 votes12y
I had a deal with Cogo Capitol that fell through due to an idiot appraiser using comps on property 50 yrs older than mine. Cogo seemed solid, however it's almost like dealing with a bank as they want alot of documentation and they need 30 - 45 days to close. If you lend them money, they seem to make sure it's safe as they only lend 55% of what it appraises at.
- Spokane, WA · Member since 2014 · 1 post · 6 votes11y
I recently had a deal with Cogo Capital. I am a borrower, but they made sure I was vetted, if not by my less than perfect credit, than by my reserves, skin in the game and LTV. I flipped fast, made 20k and am currently working on my second flip. I talked with a 27 year old who made 35k on his first flip, and he too is on his second. There's a lot of money to be had as an investor (which I'm aspiring toward). They have different levels too, which boost your return. I recommend CoGo. I've had good returns and really like their employees.
- Investor, Entrepreneur, Educator · Springfield, MO · Member since 2009 · 21k+ posts · 12k+ votes11y
Welcome Terry, I suggest you do some reading here on BP paying closer attention to the note threads and private lending threads. I don't know this company, I can't speak to them, but I can as to pooling money with other investors and accepting fractionalized security interests, not a good investment approach, in some states it's illegal on the street level, I understand it's allowed in Cali, being allowed isn't an assurance of it being a good idea.
Welcome Todd, is that the company Terry inquired about? And, really, with key word alerts running rampant on the internet, first time posters endorsing some guru or product is taken with a pound of salt here, not just a grain.
This forum section is full of threads with new members posting endorsements.
Terry, what was the spiel, what's the deal, what were they selling, what's the angle, what horse are they riding........? Okay, I'll stop, knowing what would be going on will point us to the due diligence measures to protect your money, dealing with brokers. :)
- Real Estate Investor · Kannapolis, NC · Member since 2015 · 40 posts · 19 votes11y
I am looking into investing in Lee Arnold's Inner Circle. Has anyone else had experience wirh this entity?
- Investor · Danville, VA · Member since 2013 · 6 posts · 1 vote9y
Sherry Scruggs,
Does anyone know anything about Cogo Capital , LLC- ISAOA? Are they legit?
Has anyone had any experience with them? I am looking for a short term loan for a fix & flop. Any suggestions? Thanks for you input.
- Sycamore, IL · Member since 2017 · 1 post · 2 votes9y
So I bought into this system with as much as I had. I do not have 1000's of dollars to invest in more training. ESPECIALLY when what I have seen so far is awful to watch! Boring and so time consuming, I get one little nugget out of each session.
Now I have people calling me to invest more and He got so rude I hung up on him. IF I want to talk to a used car salesman I go to the used car lot!!!!!
Now I am trying to call in and get help, and the same thing - no help, just more rudeness talking to me like I'm a child. He at least told me that I need to look in my back office. Interesting didn't know anything about a back office. Yeah it is probably in that boring training some where but I need that to be one of the first things I learn.
I'm going to get a return for my money and I'll find my funding in the 100's of other spots that want my business.
- Boonsboro, MD · Member since 2011 · 137 posts · 26 votes9y
I think you could do better on a hard money loan somewhere else! I am familiar with them and found that they are not that helpful. Good luck,
- Winston Salem, NC · Member since 2017 · 201 posts · 56 votes8y
Cogo doesnt pool money together. They are a lender anybody else. They have people who want to put money into realestate. What all hard money lenders do. If that was illegal all hard money lenders would be shut down. I am not affiliated with cogo but i hate when people comment without making any sense at all.
- Member since 2018 · 1 post · 1 vote8y
hello
So any new information on Lee Arnold's program? Or any other good program you guys have tried
- Investor · Charlotte, NC · Member since 2015 · 12 posts · 5 votes8y@Alanna Dunn I'm in the 3 day seminar in Charlotte NC this weekend and I will say I really like the speaker Mike Biglane. He's got a lot of knowledge about everything in RE. But they're mentoring is between 25-40k for a year. It does include 100% financing on deals up to 70% of the ARV. Some had negative comments about Cogo Capital (which is their lending part of the company). I was wondering if anybody had any success with the coaching/mentoring with Lee Arnold. I don't want to make a costly mistake.
- Investor · Phoenix, AZ · Member since 2009 · 15 posts · 9 votes8y
My husband and I went to their free three day event but didn’t stay throughout. This is geared for absolute beginners in real estate investing and they weren’t sharing anything I didn’t already know. They put a lot of time and money into setting it up and they are looking for people to mentor and to sell loans to. I’m looking for ways to grow our private lending and wanted to see how they do it and whether it would be worth getting involved with them.
These guys may be just the cup of tea for a newbie needing mentoring. That will eventually cost you as does all education. Shop around before you go because you’ll have to decide on the spot.
- Specialist · Mesa, AZ · Member since 2016 · 28 posts · 8 votes8y
I was also at the Phoenix 3 day event...it is a hard sell...the thing is they want to educate thru mentoring at a very pricey one on one cost...but you are to be guaranteed success with the one on one mentoring but need to fly around like to Salt Lake City and to Vegas...then the mentor will come to you...
As for the CoGo financing they want you to become a lender when you start making your millions...so I would assume that CoGo is previous Inner Circle People...????
They show you how to become a Broker for your deals...to make the Broker fees...
75% of ARV is what is typical to approve a loan... it is the down payment that is the troubling issue...and it is determined on points and interest rates...they say not credit score...but they will pull it to determine your credibility...if it is refused they do have a committee to review for majority vote, you just need to ask....
Which is kind of contradictory to their anyone can do this from any playing field...I do not believe this...it is unfair advantage to need 6k or 20k or 35k to secure your real estate future...yes it is probably worth it...but If you don't have that money and you cannot fly all over because of other obligations...then your out...???
This is what I have learned...I am not sure If I answered the question?
They also say you can learn it yourself thru certification home study and start teaching what you know...as a class...
I know where there are lots of vacant houses to rehab and want to get into the market but need the 100 % financing to start making money from the rehabs...If doing the lien abatements then CoGo finances 100% cuz they know for sure the deal is secured with the sale... This is exactly what I would like to go forward with.
Not sure it CoGo will let me unless I go thru the training so will need another private lender....? with whatever the going interest rate is...even higher is ok to get funding...100%
I trained with RESPONSE and now LEE ARNOLD...they have their points...but I think Lee Arnold had more educational value than did RESPONSE...and RESPONSE is the Yancy deal with Affluent EDU
Of course you get your educational costs returned by both if you do the specific deals...in the specific time which I did for RESPONSE but do not see the funds being returned...continual asking and they will ignore you but happy to charge you just like Lee Arnold...only today you will get the special pricing...
When you push for the immediate sale and not let people think a day or two...that alone says something I am learning...!
Hope this was helpful to someone, now that I went rambling on...sorry...
- 8yJay HinrichsBusiness MemberReal Estate Consultant · Summerlin, NV · Member since 2014 · 45k+ posts · 66k+ votes
I have had clients try to get loans through Cogo and they never materialized.. just sayin.
no mystery here there are 25 plus guru's out there selling the same stuff and same coaching its all interchangeable.
only you can make this work @Carmen Severson its you not the system.. real estate never changes..
buy low add value sell.. 100% financing for someone new is simply not attainable in most instances.
you can try Do Hardmoney they talk about 100% financing and its another Utah based company.. you either have to pay 3k up front for their materials or you don't have to pay anything.. some say you do some say you don't. the owner of the company says you don't.. but others have sent me PM's that say that's not true.. so who knows.
the issue is with any 100% financing to a new investor finding the deal that works is the hard part.. many just will never get a deal that has enough equity spread as competition for the deals is keen by those who actually have money or funding in place.. that's the major issue.. finding the deals that work and have the necessary spread..
- Specialist · Mesa, AZ · Member since 2016 · 28 posts · 8 votes8y
Thanks for your response...and your right...it is me that will make it work...
not the system...but your own ingenuity to finding the right deals...
Does anyone know about property how to obtain when they die and just sit vacant for many years?
I have heard so many variations...has anyone actually done a claim on those properties...
paying the taxes determines ownership, but other than that is there a process you can do without probate? just recording a document or something....after posting publicly...
Anyone know? I have seen so many false documents to claim ownership and they fly...cuz the recorder isn't well versed in real estate and just records a document with specifics...
Would the title company know how to get the title if they are dead or just pay the tax and foreclose if no heirs have claimed it in 20 years...????
Thanks for any replies...
- Member since 2019 · 1 post · 1 vote7y
In my experience a very hookey organization. The "lenders in the making" they train rubes and fools.
Their websites and emails are full of dead links. The information strikes me of the No money down RE scams of the past.
Time, experience and creativity are the tools required to succeed. Oh determination and tenacity are high as well.
I have acquired hundreds of properties until I became bored and retired. Time to return to the greatest game on Earth, distressed properties!!!!
Remember mistakes are your greatest opportunities. Adding 1 + 1 will never fail or succeed.
Pass on the gurus, start learn and enjoy!
- Real Estate Consultant · Evergreen, CO · Member since 2018 · 1k+ posts · 738 votes7y
Yes! Lee is absolutely legit. Lee Arnold Real Estate System, Secured Investment Corp, COGO Capital, Lake City Servicing, Lee Arnold Holdings and He's The Solution Ministries.
He is the only one who trains real estate investors and has funding for them. He also is a man of faith who started his own ministry when he realized his students were missing church on Sundays so he flies in a pastor for Sunday services.
The people who work for him are incredible and want you to succeed. Whether you just get your education through them, borrow money from them or invest with them they're first class in everything!
- Flipper/Rehabber · Bellingham, WA · Member since 2019 · 25 posts · 7 votes7y
Hi @Jay Hinrichs
You seem very seasoned. I was wondering if I could run a question by you. I've seen a few of your other posts on this matter in other threads and I agree that it doesn't make sense to believe you can pretty much make money out of nothing, no skin in the game (so to say). For newbies like myself, do you suggest then that we wholesale until we have money that we can then put towards rehabs, etc.?
So many people are saying that you can do all these amazing things "and with no money down" but I am finding and also reading that that is highly unlikely. I can also understand why, as a lender, you'd want clients to have some money in the pot. I guess I'm asking is wholesaling a true "no money down" method to sort of help launch into other areas of investing in real estate?
And when I say no money down in this sense, I don't mean free as I understand that you have to put some money in your own marketing at some point.
Thanks for your time, look forward to hearing from you.
Matthew
Originally posted by @Jay Hinrichs:
I have had clients try to get loans through Cogo and they never materialized.. just sayin.
no mystery here there are 25 plus guru's out there selling the same stuff and same coaching its all interchangeable.
only you can make this work @Carmen Severson its you not the system.. real estate never changes..
buy low add value sell.. 100% financing for someone new is simply not attainable in most instances.
you can try Do Hardmoney they talk about 100% financing and its another Utah based company.. you either have to pay 3k up front for their materials or you don't have to pay anything.. some say you do some say you don't. the owner of the company says you don't.. but others have sent me PM's that say that's not true.. so who knows.
the issue is with any 100% financing to a new investor finding the deal that works is the hard part.. many just will never get a deal that has enough equity spread as competition for the deals is keen by those who actually have money or funding in place.. that's the major issue.. finding the deals that work and have the necessary spread..
- 7yJay HinrichsBusiness MemberReal Estate Consultant · Summerlin, NV · Member since 2014 · 45k+ posts · 66k+ votes
Originally posted by @Matthew Nixon:
Hi @Jay Hinrichs
You seem very seasoned. I was wondering if I could run a question by you. I've seen a few of your other posts on this matter in other threads and I agree that it doesn't make sense to believe you can pretty much make money out of nothing, no skin in the game (so to say). For newbies like myself, do you suggest then that we wholesale until we have money that we can then put towards rehabs, etc.?
So many people are saying that you can do all these amazing things "and with no money down" but I am finding and also reading that that is highly unlikely. I can also understand why, as a lender, you'd want clients to have some money in the pot. I guess I'm asking is wholesaling a true "no money down" method to sort of help launch into other areas of investing in real estate?
And when I say no money down in this sense, I don't mean free as I understand that you have to put some money in your own marketing at some point.
Thanks for your time, look forward to hearing from you.
Matthew
Originally posted by @Jay Hinrichs:I have had clients try to get loans through Cogo and they never materialized.. just sayin.
no mystery here there are 25 plus guru's out there selling the same stuff and same coaching its all interchangeable.
only you can make this work @Carmen Severson its you not the system.. real estate never changes..
buy low add value sell.. 100% financing for someone new is simply not attainable in most instances.
you can try Do Hardmoney they talk about 100% financing and its another Utah based company.. you either have to pay 3k up front for their materials or you don't have to pay anything.. some say you do some say you don't. the owner of the company says you don't.. but others have sent me PM's that say that's not true.. so who knows.
the issue is with any 100% financing to a new investor finding the deal that works is the hard part.. many just will never get a deal that has enough equity spread as competition for the deals is keen by those who actually have money or funding in place.. that's the major issue.. finding the deals that work and have the necessary spread..
U can try wholesaling its not really legal the way its taught and pretty tough thing to do.. the guys I know that do this primarily do it to buy their own off market deals and will send out 10k cards at one time.. all to get a deal or two.. real estate in mind in the major west coast MSAs is a pretty tough no money gig.. best way to make money is to actually get in the industry.. real estate agent Loan broker
appraiser home inspector sub trade constractor.. get experience save up money and credit and then invest.. Keep in mind this is a national site here on BP and some of those that say no problem and do deals are doing it in older markets with no properties than people to live in them and can buy them for 5 to 20k routinely.. like being in the used car business really. were we live you cant buy bare lots for much less than 150k each..
- Flipper/Rehabber · Bellingham, WA · Member since 2019 · 25 posts · 7 votes7y
@Jay Hinrichs
I see. If i understand you are saying markets dictate what you can do for the most part. My local market, the median house price is 300k. Doesn't feel like a wholesale market.
I plan to get a realtor license this summer. Are you saying I ahould get more experience that way before i start trying to invest?
- Winston Salem, NC · Member since 2017 · 201 posts · 56 votes6yOne thing I learned never run on here asking questions about a guru..I am over 30 markets not one of those markets at networking events are people doing 500 plus deals a year . people always say how the gurus aren't teaching them anything they already don't know .that is the case then why aren't people doing alot more deals..once you have systems in place you can do unlimited deals without any added effort.
Stay away from all things Lee Arnold. After I bought his tripwire product through Awesome REI, I registered for the livestream version of Lee Arnold's private broker certification program. It was done livestream because of Covid19. I wasn't sure I could attend the entire multi-day event, so I asked if it would be recorded; I was told it would be. As it turned out, I could not attend and called to get a refund prior to the event airing. They told me there was only a 3-day refund window that I missed (hardly a reasonable time). Okay, so no refund on the deposit, even though this was a virtual event. I then asked if I paid the remainder of my balance, would I be able to view the recorded seminar and get certified that way, even if I couldn't attend live. They told me the recordings were only for those who were able to attend the livestream event. Hmmm, that's not what they said in their sales pitch, so now I experienced a bait and switch, in addition to the fine print of a 3-day cancellation policy. They were starting to piss me off, so I hung up on them, considering contacting my attorney to get my deposit back.
Then they started calling me twice a day for two weeks (never leaving a message), trying to get me to use the balance of my payment toward another training. I finally took their call and told the sales germ how fed up I was. He implied that I should be grateful they were so flexible in allowing me to apply my deposit to another program. That was the final straw. I hung up and blocked their number. By then I was so fed up, it was worth it to eat the cost of my deposit in order to never hear from them again.
It was my fault that I ignored the red flags when I saw Lee Arnold with his slick-backed hair and lapel crucifix. He had the air of a televangelist. I should have listened to my gut before I took the bait. Mea culpa.
I can't speak to COGO Capital, but stay away from Lee Arnold's training. They're unethical, hard sell shysters.
- Real Estate Consultant · Evergreen, CO · Member since 2018 · 1k+ posts · 738 votes6y
My experience with Lee Arnold, COGO and his companies is incredible. Their Private Money Broker course jumpstarted my business. I am now taking his Master Broker course, Lien and Nuisance Property Abatement and a 3 day Mentorship with their VP of brokering. I know about 20 people at COGO personally, They white labeled my forms and documents so I can can use them with other lenders and investors, provide me with leads and more.
No matter who you go through it's on you to take action. Those who do succeed! The people I know who have gone through Lee's courses and funding tour and have taken action are succeeding. I keep in touch with many of them.
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