Jerry Norton programs ($10k finder fee - Powerflipper)
Spring, TX · Member since 2015 · 1 post · 18 votes
Jerry Norton programs ($10k finder fee - Powerflipper)
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Residential Real Estate Agent · Rancho Palos Verdes, CA · Member since 2010 · 15 posts · 61 votes
10yNews Flash! If anyone finds a deal that meet the criteria Jerry is looking for then contact me and I will take it and pay you 10k and you wont even have to pay anything up front. I am sure there are plenty of cash buyers looking for deals at 65% ARV.
110 Replies
- Griffith, IN · Member since 2019 · 114 posts · 56 votes4y
Jay,
I totally agree with your statements. I'd be a fool to think they'd make more strictly wholesaling. After reading my post, I failed to mention a couple of things because I didn't want to write a book! The issue I have with most of these guys, is that their courses are not complete. There's so many things that are left out. Important things are left out. They're not state specific either. For what some of them charge, they should be ashamed of themselves. Basically I'm talking about ethics. They hype up people and it works. People fall pray to their antics. That's what bothers me. Heck, you give me $10k and I'll get you an sfr that cash flows at a minimum of 8%. Give them $10k and God only knows what will happen.
As far as the wholesaling "dream," you're right. Everyone thinks exactly what you stated. They'll buy a course, read it and think that in 5 years they'll be millionaires. We both know that isn't the case. BUT, these guru's make it sound like that's what will happen if you buy their course. That's what I don't like about them. Plus wholesaling is hyped up everywhere you look. People think it's easy money. That couldn't be further from the truth and we both know that. People don't realize the amount of work that's needed to be successful. Everywhere you look on the internet, people make wholesaling sound easy. There's way too many lies out there. If you're not willing to work your butt off for a long time, you won't succeed in wholesaling. The guru's "play" on people and make them think they'll have riches, if they just buy their course and that's what upsets me. The people who buy these courses think their problem's are over. It doesn't work that way. I get upset when I see them tell their "fairy tales" about how much people can/will make, if they buy their course. On the flip side, most people don't want to do the work it takes, to be successful. They think they can take a course and bam.....the big bucks start rolling in. They're kidding themselves. But the guru's play on that as well. That's what concerns me. Look how successful you are. I'm fairly certain if I asked you to tell all of us your "story," busting your rear end and never giving up would be on your list. Frustration and feeling lost would be on the list too. It takes far more work to succeed in wholesaling, than most people will ever know. Many of them need to wake up and smell the coffee.
- 4yJay HinrichsBusiness MemberReal Estate Consultant · Summerlin, NV · Member since 2014 · 45k+ posts · 66k+ votes
@Scott Swanson Keep in mind what your seeing in the real estate training space and how this is presented started way back when in MLM Amway etc .. exact same presentations.
you start with the pictures of the family why do we do this we do this so we can spend time with the kiddos ( who is going to disagree with that) then you put up like sperber pictures of his lambo who does not want that LOL..
you bring in professional actors to do the set up meetings and create the funnel to drive them to the big events or big dollar programs..
I have been around this personally for years I was a vendor at Armando Montalongos how to flip houses seminars a little bit with Rich dad and lastly with Nick Vertucci's program.. It was pretty interesting watching this all play out.. I have been to Utah and meet with 3 different fulfillment companies who run these guys programs this is a well Choreographed business and presentation behind the curtain.. Most folks just dont know it.. They all think they are going to a meeting and the lovely Christina is going to be there to show them how to remodel a home.
The folks that are TV reality show stars ( other than ARmando) simply rent their name and make a bundle doing that. they might show up at the big event and talk for 30 minutes shake some hands and down the road they go. I watched the flipping Vegas stars do that exact same thing at a Vegas event they get up there for 30 minutes out of the 3 day event.. His big secret make 25 offers a day well in the crash of Vegas that could have worked but today come on really ???
So its just very physiological warfare against these potential students.. sell them on futures paint a rosy picture tug at their heartstrings get them all motivated to spend money then let the go at it.. And like any big money making business maybe 1 out 25 or so does anything that could be deemed successful the others just sell their books and tapes on E bay for 50 bucks.
Now to be fair and balanced like fox news I have met folks at these events that paid the 30k during evening break and a glass of wine i would ask them what brought you here.. I remember one of them telling me he just sold his business for many millions and was curious and 30k was nothing to him.. but you take those who have to borrow the 30 k and well that can be very bad for them if they dont do anything with the course.
Lastly my wife was a trainer for Floyd Wickman back in the day .. you maybe familiar with his Son Gino's motivational books. Mr. Wickman class's were aimed at helping RE agents get to the next level and since my wife was a top producer and managed 70 agents she was very good at it.. But as some one who was raised in this business has owned 3 brokerages I can tell you that only 10 to 20% of agents make 80% of the revenue wash out rate is high.. with Wholesaling I suggest that only 5 % who try it are still doing it in a year and in any given market there will be a handful of wholesalers that do pretty good to very good the rest just trundle along now granted if they make 50 to 100k a year in the mid west and were used to making 20 to 30k in their JOB this is a big improvement over where they were at.. But its not millions !!! Top producing real estate agents in many market make over a million a year with a whole heck of a lot of them making 200 to 500k.. the other 60 % of agents will not make much but it could be a secondary job and they are not the primary income producer in the family.. My wife last year closed 28 million by herself NOT a team thats by herself.. Ergo I do all the cooking and cleaning LOL
- Investor · Malakoff, TX · Member since 2017 · 2k+ posts · 2k+ votes4y
Originally posted by @Jay Hinrichs:
@Scott Swanson Keep in mind what your seeing in the real estate training space and how this is presented started way back when in MLM Amway etc .. exact same presentations.
you start with the pictures of the family why do we do this we do this so we can spend time with the kiddos ( who is going to disagree with that) then you put up like sperber pictures of his lambo who does not want that LOL..
you bring in professional actors to do the set up meetings and create the funnel to drive them to the big events or big dollar programs..
I have been around this personally for years I was a vendor at Armando Montalongos how to flip houses seminars a little bit with Rich dad and lastly with Nick Vertucci's program.. It was pretty interesting watching this all play out.. I have been to Utah and meet with 3 different fulfillment companies who run these guys programs this is a well Choreographed business and presentation behind the curtain.. Most folks just dont know it.. They all think they are going to a meeting and the lovely Christina is going to be there to show them how to remodel a home.
The folks that are TV reality show stars ( other than ARmando) simply rent their name and make a bundle doing that. they might show up at the big event and talk for 30 minutes shake some hands and down the road they go. I watched the flipping Vegas stars do that exact same thing at a Vegas event they get up there for 30 minutes out of the 3 day event.. His big secret make 25 offers a day well in the crash of Vegas that could have worked but today come on really ???
So its just very physiological warfare against these potential students.. sell them on futures paint a rosy picture tug at their heartstrings get them all motivated to spend money then let the go at it.. And like any big money making business maybe 1 out 25 or so does anything that could be deemed successful the others just sell their books and tapes on E bay for 50 bucks.
Now to be fair and balanced like fox news I have met folks at these events that paid the 30k during evening break and a glass of wine i would ask them what brought you here.. I remember one of them telling me he just sold his business for many millions and was curious and 30k was nothing to him.. but you take those who have to borrow the 30 k and well that can be very bad for them if they dont do anything with the course.
Lastly my wife was a trainer for Floyd Wickman back in the day .. you maybe familiar with his Son Gino's motivational books. Mr. Wickman class's were aimed at helping RE agents get to the next level and since my wife was a top producer and managed 70 agents she was very good at it.. But as some one who was raised in this business has owned 3 brokerages I can tell you that only 10 to 20% of agents make 80% of the revenue wash out rate is high.. with Wholesaling I suggest that only 5 % who try it are still doing it in a year and in any given market there will be a handful of wholesalers that do pretty good to very good the rest just trundle along now granted if they make 50 to 100k a year in the mid west and were used to making 20 to 30k in their JOB this is a big improvement over where they were at.. But its not millions !!! Top producing real estate agents in many market make over a million a year with a whole heck of a lot of them making 200 to 500k.. the other 60 % of agents will not make much but it could be a secondary job and they are not the primary income producer in the family.. My wife last year closed 28 million by herself NOT a team thats by herself.. Ergo I do all the cooking and cleaning LOL
It doesn't hurt that your wife has a client (you) that gives her all his new builds to sell, lol.
- 4yJay HinrichsBusiness MemberReal Estate Consultant · Summerlin, NV · Member since 2014 · 45k+ posts · 66k+ votes
Originally posted by @Eric James:
Originally posted by @Jay Hinrichs:
@Scott Swanson Keep in mind what your seeing in the real estate training space and how this is presented started way back when in MLM Amway etc .. exact same presentations.
you start with the pictures of the family why do we do this we do this so we can spend time with the kiddos ( who is going to disagree with that) then you put up like sperber pictures of his lambo who does not want that LOL..
you bring in professional actors to do the set up meetings and create the funnel to drive them to the big events or big dollar programs..
I have been around this personally for years I was a vendor at Armando Montalongos how to flip houses seminars a little bit with Rich dad and lastly with Nick Vertucci's program.. It was pretty interesting watching this all play out.. I have been to Utah and meet with 3 different fulfillment companies who run these guys programs this is a well Choreographed business and presentation behind the curtain.. Most folks just dont know it.. They all think they are going to a meeting and the lovely Christina is going to be there to show them how to remodel a home.
The folks that are TV reality show stars ( other than ARmando) simply rent their name and make a bundle doing that. they might show up at the big event and talk for 30 minutes shake some hands and down the road they go. I watched the flipping Vegas stars do that exact same thing at a Vegas event they get up there for 30 minutes out of the 3 day event.. His big secret make 25 offers a day well in the crash of Vegas that could have worked but today come on really ???
So its just very physiological warfare against these potential students.. sell them on futures paint a rosy picture tug at their heartstrings get them all motivated to spend money then let the go at it.. And like any big money making business maybe 1 out 25 or so does anything that could be deemed successful the others just sell their books and tapes on E bay for 50 bucks.
Now to be fair and balanced like fox news I have met folks at these events that paid the 30k during evening break and a glass of wine i would ask them what brought you here.. I remember one of them telling me he just sold his business for many millions and was curious and 30k was nothing to him.. but you take those who have to borrow the 30 k and well that can be very bad for them if they dont do anything with the course.
Lastly my wife was a trainer for Floyd Wickman back in the day .. you maybe familiar with his Son Gino's motivational books. Mr. Wickman class's were aimed at helping RE agents get to the next level and since my wife was a top producer and managed 70 agents she was very good at it.. But as some one who was raised in this business has owned 3 brokerages I can tell you that only 10 to 20% of agents make 80% of the revenue wash out rate is high.. with Wholesaling I suggest that only 5 % who try it are still doing it in a year and in any given market there will be a handful of wholesalers that do pretty good to very good the rest just trundle along now granted if they make 50 to 100k a year in the mid west and were used to making 20 to 30k in their JOB this is a big improvement over where they were at.. But its not millions !!! Top producing real estate agents in many market make over a million a year with a whole heck of a lot of them making 200 to 500k.. the other 60 % of agents will not make much but it could be a secondary job and they are not the primary income producer in the family.. My wife last year closed 28 million by herself NOT a team thats by herself.. Ergo I do all the cooking and cleaning LOL
It doesn't hurt that your wife has a client (you) that gives her all his new builds to sell, lol.
Touche' there is that but our product we owned was only 15 million of it and if she was not selling our houses we own she would be selling someone elses.. the point is if you put in the work know what your doing after about 5 to 7 years in a market were average sale prices are 400k and up there is a strong chance you will make 100 to 300k a year and your marketing budget will be a fraction of what a wholesaler spends to try to generate their income. And again there are the 1% er wholesalers that kill it.. I do business with a few I fund the deals they want to wholetail so they can double or quadruple their profit compared to an assignment fee.
Either way sales is dog tough and the vast majority of folks out there watching these u tubes and getting excited simply do not have the chops to do sales its not in their DNA or personality or family situation.
Our Daughter in Vegas who has been selling RE for 9 years now is doing very very well.. She moved into the Lux market and has been closing 1 to 3 million dollar sales with regularity . she started out doing leasing for 1k commissions now she sells one of those big houses she knocks down 30 to 60k on one deal with very little overhead to do it.. the big difference between being a seasoned agent and a wholesaler is wholesaler is only as good as their marketing and their next deal.. And your generally not always but generally dealing with folks that only own a single property or very few not the sharpest tool in the shed other wise they would not be letting wholesalers step in and make more than a normal fee.. So once your done with them you have to find another property to wholesale ..
My point is once you have been in the RE sales end of it and your successful your going to get referrals and a lot of them.. A simple phone call or e mail Hey you sold my friends house they loved you would you come to our house and help us like you did them.
My wife got one yesterday daughter of one of her clients.. she has a 600k house to sell and wants to buy a 750k house .. She is meeting on Wednesday to take the listing and find her a new home ( probably one of mine though LOL) But that is what I see the main difference in wholesaling without a license and licensed agents who do it for a living. Most wholesale thread you read first thing out of their mouth is Hey I am only doing this so I can get some cash to buy rentals and enough rentals so i don't have to work.. well there is work in all this the whole mind set that real estate will allow you not to work is misplaced in my mind.
- Investor · VA · Member since 2021 · 11 posts · 8 votes4y
Hello all, I am a newbie and decided to get into Wholesaling. I thank you all for your posts, although this information is dated a few years ago, Jerry & Friends are still promoting and now calling it Fast Track. They are still asking for $1K, which I will keep and do the work myself. Jerry videos are quite informative and helpful in guiding the whole deal. Happy Investing Friends.
- Member since 2022 · 2 posts · 0 votes4y
its real and I would like to hook up with him.
- Member since 2022 · 1 post · 0 votes4y
Hello I have a lead , very new lol who and how can help me
- Member since 2022 · 3 posts · 6 votes3y
I have to say Jerry Norton is an upstanding down to earth guy. Just check out for yourself don't believe me. The guy has over 500 YouTube videos teaching you how to do deals step by step. I've bought Real Estate courses that don't have as much useful information. The guy even makes calls to difficult seller's live right infront of you so you can hear what an expert does to overcome objectives.. Talk about a mentor and coach.. I dare you to go to your local REIA and ask the top investor to walk you through a deal and let you listen in on a call.. Hell Jerry calls live for nearly 2 hours on one vide. Some people are looking for an instant deal by doing employee level work. It takes time persistence and focus. Not just doing 2 or 3 things and turning on jeopardy.
- Member since 2023 · 7 posts · 1 vote3y
I learned everything i need to know about wholesaling, just by watching his free videos on youtube.
- Hollywood, FL · Member since 2015 · 5 posts · 17 votes3y
Quote from @HAZEL DAWSON:
John D: any update after the presentation?
I purchased/still going through tutorials, entering data and trying to learn the program. So far, the lots I have picked are much higher priced than what would be acceptable in the program - still hunting!
hi... did you have any success? I found several lots but my offers were never accepted. I stopped for 3 years but i'm back at it
- Real Estate Agent · Houston, TX · Member since 2013 · 3 posts · 2 votes3y
I have been tempted to look up information about this "thing"... It was an (annoying) paid ad popup left corner in a YouTube video I was watching, and I was about to shut it down, because it is what it is, a paid ad = they expect to sell a product, and they advertised it. Google ai's are cheap af, expect these ads not to match so well your preferences.
It is amazing how this "thing" is still going on, been chewed and ruminated in this forum since 8 years ago based on the first inquiry here.
Now here a simple fact for you to check: 1) When you click on the ad, it directs to whatever landing page to sell a product of their business. I can make such pages in no time and hide that the website is a free website... That's how it rolls, and 2) if you do NOT give information (please do not!) about you (especially NOT your email, keep it safe), about a few seconds after (it is a setting, setup s..., whatever) it pops up another offer right on your face (meaning, they keep trying you to whatever cross selling, it is really a simple sales tactic, a psychological trigger to urge you to a decision to buy something). 3) Close the damned pop up, scroll down to the bottom of the page, and check anything on the footer that says "Privacy Notice - Terms of Use - Disclaimer" (It will be active and linked to another page, if it is underscored on hover of your mouse) - I went for the sweet "Terms of Use" - this is either a bought or internet stolen general legal terms twisted a little to fit their business verbiage façade (but you will see many errors of any kind), and here is the thing: legitimate businesses are really verifiable, and provide legitimate links! As simple as that! For a fact, they have a "postal address" (they do NOT name it "business" address, notice that... and btw, this is a bought virtual address, look it up, and y'all shall find plenty in the sea, and please, do not spend $1,000 or whatever, or worse, your precious, billable time = money on it.
Our postal address is: (Write them a love letter at your own peril, it will bounce or return with a package - maybe cokes, try your luck, but I would not!)
151 Calle de San Francisco
Ste 200 PMB 1008
San Juan, PR 00901-1607 - Member since 2023 · 3 posts · 4 votes3y
Quote from @Frank Nolan:
News Flash! If anyone finds a deal that meet the criteria Jerry is looking for then contact me and I will take it and pay you 10k and you wont even have to pay anything up front. I am sure there are plenty of cash buyers looking for deals at 65% ARV.
Helen Head of Jacksonville FL and surrounding areas, here. Look me up in Google H3 Properties or H3 Properties LLC.
- Member since 2023 · 3 posts · 4 votes3y
Quote from @Frank Nolan:
News Flash! If anyone finds a deal that meet the criteria Jerry is looking for then contact me and I will take it and pay you 10k and you wont even have to pay anything up front. I am sure there are plenty of cash buyers looking for deals at 65% ARV.
Helen Head of Jacksonville FL and surrounding areas, here. Look me up in Google H3 Properties or H3 Properties LLC.
- Member since 2023 · 3 posts · 4 votes3y
Thanks a lot BP for this Topic. I have $10K fake checks from Jerry Norton in my "Millionaire" piggy bank waiting for the real ones to come in. 😂😁 However, after reading thru this thread; I will not buy anything from Jerry Norton, and if his YouTube channel wasn't educational- I wouldn't watch those either. THANK Y'ALL SO MUCH FOR SHARING your experiences!!! Greatly appreciated!!!
I'm Helen Head, a Wholesaler in Jacksonville FL if anyone would like to connect and partner. Look for me in Google H3 Properties LLC or without the LLC.
- Member since 2023 · 1 post · 1 vote3y
Thank you all for posting honest questions and experiences, I agree, the scam as I see it, is, pay the money for the "money making program" Find me a unbelievable deal (if you can on your own time) and the guru will pay you $10,000 IF it meets his criteria (read small print, tons of exclusions and conditions!)
I'm a small contractor and builder and I'm looking for Sub-2s or Seller finance properties in Austin Texas, and I will definitely pay $10--15 k cash, no ******** for the right deal.
Jerrys deal would be sweet (for him) if it worked, ie get hundreds of people to pay you money to find great RE deals and then only pay for the super sweet deals (and then take plenty of promotional photo shots to post on the web site to impress more potential buyers for the software program and couching)
Obviously the other huge issue that new and hopeful RE investors MUST consider is... CAN they actually price, start and complete a remodel thru to finished presentable and sellable quality?.
Remodeling is not a casual part time hobby.
Wishing everyone good luck, keep your eyes and ears open for the scams.
PS: I heard this aphorism once: If your in a sales presentation or sales meeting and you cant identify or see who the suckers are...Guess what, there sitting in your chair. Be aware!
- Investor · Jacksonville FL · Member since 2023 · 3 posts · 4 votes3y
I here so many people saying its a Scam But, those are the people who don't want to work, jerry has given you all the tools to find leads easy. All you really have to do is find the buyers yourself...you want to sit around and wait for a check from jerry Wow? I wish I had the $1,000 just for the deal genie and the deal cruncher. Even if Jerry never buys a deal from me with the tools he gives its worth 10 times over if you are not afraid to Hustle. I wish I had the $1,000 now but I can wait until I get my first deal. you don't need Jerry Norton as a buyer so How is it a Scam?
- New to Real Estate · Saint Louis · Member since 2023 · 9 posts · 2 votes3yHello,
Quote from @Jay Statzer:
First thing I noticed was the 4 testimonials online in videos never tell you what the deal was, Not how much offered, not how much repair, not what ARV, just a bunch of scripted, formatted empty gratitude. Plus none ever mention a deal after the first. Comments are disabled, yeah I know they mostly attract trolls, but maybe they would include some amens? I looked at this and passed. I see the deal Genie in others' programs for less entry cost. Thanks BP community for giving us these forums.
What similar programs do you know? Would you please share? - Member since 2017 · 1 post · 0 votes2y
Quote from @John DuBois:
I received a brochure inviting me to a Jerry Norton webinar for Thurs-Feb5-2015. I will attend and comment back here afterwards.The brochure is offerring $8700.00 payouts on lot flipping. Sometimes these types of deals require that you purchase a software to help search for lots,so we'll see.Most of the time,established people in industry are not going to come online and scam people,why would they ruin their own business in the offline arena? I will post back tommorrow after I get details of offer.
- Member since 2022 · 7 posts · 2 votes2y
Has anybody used this and been successful?
- Member since 2022 · 7 posts · 2 votes2yMe and you should do adventure agreement with this program
Quote from @Anthony Toosweet:
I here so many people saying its a Scam But, those are the people who don't want to work, jerry has given you all the tools to find leads easy. All you really have to do is find the buyers yourself...you want to sit around and wait for a check from jerry Wow? I wish I had the $1,000 just for the deal genie and the deal cruncher. Even if Jerry never buys a deal from me with the tools he gives its worth 10 times over if you are not afraid to Hustle. I wish I had the $1,000 now but I can wait until I get my first deal. you don't need Jerry Norton as a buyer so How is it a Scam?
- Investor · Macon, GA · Member since 2020 · 14 posts · 6 votes2y
I have worked with Jerry. I have received a $15k wholesale check. It was a high end flip that was out of my experience. I believe he netted $75k off the deal
- Member since 2024 · 1 post · 0 votes1y
I’m a student in Jerry’s program and I have yet to see the benefit of being a member. I have a deal that meets the criteria now that I need a buyer for in Lytle Texas if anyone is interested and willing to take it off my hands
- Attorney · Member since 2024 · 7 posts · 0 votes1y
I began to watch his webinar and apparently, he wants you to pay $1k to use his "deal finder genie" software to find deals and then send the deals to him. My question is - if he has developed a "good" software (allegedly) and has a system in place, why would he pay $10k for people to find him deals using his platform and system if he could just pay an employee to find him deals? He could hire an assistant to sit in his office and work to find deals. He would spend less than 10k per deal. What makes me conclude that this is a scam. You will never make $10k. You will invest your $1k and lose your money. If 10 people believe in his bs and pay $1k, he makes 10k already.
- Rental Property Investor · Carthage, NY · Member since 2019 · 72 posts · 47 votes1y
I'm watching his "How to get 100% funding for unlimited deals" right now. I can't remember how he crossed my path, but its the first webinar of his I've watched, after my email was blown up by 100 emails in 3 weeks on what appears to be a wide variety of topics.
Really disappointed after 5 minutes. 10 minutes in, I was googling "scam". Bottom line, it just doesn't smell right at all. My thoughts are:
1) He's into far too soo many diverse aspects of real estate that are quite the highly specialized niche. Like a dozen of them. There's no normal chosen focus or strategy. Therefore, unlikely to be a guru...or even worthy mentor of any.
2) Don't quote, but within the first 10 seconds or 1 minute of the webinar I could have sworn him say he only has or has "only" made $1.2Million of his own money.
3) If since he as a wholesaler (one of his dozen professed niches) has all this software, which can identify motivated sellers, has a network of buyers, has so many structures and systems in place, then what in the world would he need us for. Has a vast network of hard money or private lenders that give to him-so he can give to us-Not making sense.
4) Worse, it just leaves a bad taste in my mouth that for three weeks he's claimed via email to watch this same seminar, but then in it is a bit too over the top in deadline marketing about how hurry theres only so many spots left and ect. Moreover, consider how he says in the next breadth more on how he has no sufficient track record to eventually syndicate and be a decamillionaire or centimillionaire so thats why he needs to give to us to establish himself as one. In turn uses these claims of his limitations (also such as only having so much money he is being lent) to give to us. Pure circular comedy actually.Let me give you an analogy using the retail trading world of what I fear real estate could become. My other background for 15 years now is in the trading world. First, self professed traders on their cell phone apps placing trades with their typically less than $1000 stand virtually next to zero chance of success. In that world the typical path is 6-8 years in formal financial education, then if trading just for self, losing many first few thousand dollar accounts for about another 3-5 years. On my social media, there were about 10,000 of these that followed me. About 30 Thirty of those 10,000 verify are successful at all, usually with twice my formal education level and years experience trading. About 9,000 have been blocked as "social media clowns". The 1000 I talk to stand a chance-but they are typically NASA engineers or other post graduate level mathematics professionals and willing to lose in trading the first three years. And ready to read 20 1000 pg books on the subject. Secondly, do the basic math. Lets suppose someone can make 10%/per month return on capital trading. Oh, Very few can right? We do this by risking 1%-3% capital per trade because of 10% occasional drawdown that will come with that, mind you. Now lets suppose someone's goal is to earn their annual salary trading and leave their W2. Thus if they make say $50k/year at their W2, they would need $50K starting capital to make that 10% per month! But their walking around their job at taco bell showing how they just risked 70% of their $500 total capital on a single trade and made $50 bucks on that lucky day. -Because the gurus they all paid a few $grand for a course-or signal service-or robot told them they could retire a millionaire by starting with their $1000. Theyre trading against us with tens of thousands of dollars in services we pay out and 8 monitors and news feeds of they're exact positions to wipe out, mind you. Third-so in the last 7 years came the "prop trading firms". This is where the "retail trader" pays $1000 to a firm to prove themselves as a competent trader for 2 months and then is given $50K to trade. The prop firms claim to have "whales" and millions wishing for higher returns. In actuality the prop firms make the vast majority of their money collecting $1000 from novice traders as their business model. One stat showed that about 4 in 775 traders didn't blow the account within 4 months-that's how many are successful! Fifth, now here's the point: Next came along more novice traders who collect $1000 from the other novice trader to "pass they're prop trading firm tests" in order to get an account lol. Sixth: See this complexity of chaos goes on. You see the circus.
This Jerry Norton is the real estate analogy of that retail trading world. A social media clown. In real estate I stick to tried and true methods for 28 years now. As in working 3 jobs and sleeping 2 hrs day in the 5x8 office for that first $10k until buying that first long term buy and hold rehab at age 18, learning how to manage tenants, learning how to manage financial risk. No disrespect to anyone, but cant we begin to see the increasing amount of novices with zero cash, poor credit, little income for personal expenses, haven't heard of they're local meetup nor bigger pockets nor which book like Kiyosaki nor Brandon Turner nor Grant Cordone's etc-all about to become millionaires easily. Do keep it up in right directions but beware the false gurus. Jerry Norton hes "just so awesome" that he doesn't need to actually know or do anything. He states in the video this-that he, "considers rehabbing or flipping himself risky so he'd rather not" lol. He just so awesome that he knows not just 100% financing but house flipping, notes, instant comps, contractor agreements and a ton of legal paperwork that's "took him 17 years to compile" software, wholesaling, syndication, MLS access, lets see the other 126 emails from him here: " "How to get out of contracts" lol, "How to make a million dollars a year flipping houses" (but he'd "rather not cause its risky" at the same time)... Hes this awesome so he really needs us and our $1000 given his lack of capital and expertise. He's another future billionaire building a house of cards empire to be afraid of. A walking talking contradiction-Admitting his view of increased STR regulation, then stating it to hurry and buy into his stuff and that market in next breadth. Thank you bigger pockets! For all your comments here and especially to the OP. I can get this clown's emails erased and blocked and webinars off my schedule now. Traders: Stick with real estate instead ;)
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