Phill Grove e-mail

[Kristen Sinclair]

Hi everyone!

I'm a newbie in the San Antonio area, doing some research and taking real estate license classes (as a way to learn about the business) while I decide what type of real estate investing would be best for me.  Anyway, I got an unsolicited e-mail from Phill Grove, who I had never heard of until I looked up posts about him here on BP.  The e-mail basically says he's looking for a team of people across the country to help him find houses for a deal he has with a group of investors.  You're then asked to complete a questionnaire to see if you qualify and if you do, you "will be working very closely with (and coached by) an experienced real estate professional who will guide you in finding the right deals."  

Has anybody else received this or know anything about it?  I have not filled out the questionnaire and don't know how he (or his people) got my information.  My guess is that it will end up as a solicitation to a seminar.

I appreciate your feedback!

Kristen

[Lumi Ispas]

@Kristen Sinclair, I know who he is. He has a good flipping/wholesaling/holds for cash flow business and I believe he coaches people for a portion of the profits. 

I heard of some investors that use his services and they seem to be happy with him, however, as with anyone in the coaching industry, you'll hear pros and cons, and mostly complains.

I've attended a two hour presentation made by his wife last year and she was very knowledgeable. 

I believe they are looking for brand new investors that are willing to go out in the field and find leads and bring them to him. If the deals make sense, he could buy the property from you, finance it or partner up with you.

There are a lot of other companies that do that, some have tens of thousands of dollars programs, where you go to 3 days boot camps and learn quickly, then they offer you money at a high interest rates (hard money loans) of if the deals you are bringing at the table are amazing, or they will partner up with you.

A lot of the info you'll find from these guys will be great, and unless you take action and actually look for properties, make offers and putting together deals, you'll just waste your money. 

Keep in mind 80-90% of new investors don't take any action. They might start looking for properties, however they won't write offers, look for financing, etc.  They just perpetually learn and talk about it. Probably about 10-15% of investors buy a owner occupied property or do an investment a year, which is better than doing nothing and only 5% or less of all investors actually take action and do a lot of business.

If you plan to invest full time in Real Estate, you have some cash to get started, and are able to get a mortgage, then it might make sense to pay for someone's courses to cut your learning curve. If you plan to keep your day job and do an investment or few a year, then Bigger Pockets has plenty of info for you, and you can also find a lot of people that will mentor you here.

This site has some of those top 5% of investors, and these people are generous with their time and advice, so take advantage of it. 

Good luck to you and let me know if I can help you in any way!