Than Merrill or REIA Meeting?

Than Merrill or REIA Meeting?

Kenner, LA · Member since 2016 · 28 posts · 5 votes

Okay, so I've been going through this forum for a few days now. Some of the most important information I have gotten was from Mr. Joe McCall. Just genius information that has assisted me with the information I have been studying. Thank you Mr. McCall.

At this point I am pretty much ready to hit the ground running and build a buyers list. I've watched a lot of videos, have a out of state mentor, and have read some things, but I am still having trouble with the concept of finding buyers.

With this said today I was scrolling through FB looking for a buyers group, but couldn't find anything when I stumbled upon a retargeting marketing ad by "Than Merrill" for a 2hr seminar about a mile away from my home. I had never heard of Than Merrill so I googled him, and saw that he had been successful in "Fix and Flipping" properties. I then entertained the thought of maybe I should request more information, so I did. I called a 1-800 number and was greeted by a young lady who asked where I had wanted to go for my free seminar. I immediately stopped her and asked if this was a seminar where buyers would show up, or would it be a bunch of people who are interested in making a so called "Quick buck" (which we all know that this is not a quick buck industry)? The young lady replied with there will be all sorts of people there. To me that does not say much. No disrespect I am someone who feels that I can never learn enough so I am willing to go and learn some new things, but at the same time, I don't want to waste time for 2 cents of information and 118 minutes of time for that 2 cents if there will be no buyers in whom I can network with.

On the flip side there is a REIA meeting tomorrow night that is held once a month. So the question is this. Has anyone attended a Than Merrill seminar in the past 9-12 months in the New Orleans/Greater New Orleans area? If so were there buyers there? If not in the state of LA than any other state.

At the end of the day I am trying to network and meet buyers, should I do this at the Than Merrill Seminar or the REIA meeting tomorrow night?

Thank you all and your responses are much appreciated.

Best,

Javon

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Real Estate Investor · Loveland, OH · Member since 2015 · 5 posts · 3 votes
10y

In my mind this is an easy choice. Go to the REIA meeting. You will meet real people who are really investing. You will have opportunities to network with people as well as learn the ins and outs of investing.

Easy choice for me!

Steve

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  • Oakland, CA · Member since 2014 · 15 posts · 3 votes
    10y
    Originally posted by @Kandice Ayo:

    @Javon Varona  I haven't been on BP for about 2 weeks, so God must have lead me to your thread. Thanks for the advice! I will definitely record if they allow it. I'll let you know how it goes....honestly, the responses are kind of scary and making me second guess my decision. I'm grateful for everyone's responses....I hope you find what you're looking for!

    Kandice

     i think it was for all of us.  I just hate people running game on folks who truly want to learn how to invest, flip, wholesale or whatever you want to do in the real estate business. 

  • Oakland, CA · Member since 2014 · 15 posts · 3 votes
    10y
    Originally posted by @Karen O.:

    Javon, 

    You've gotten some great advice.  I want to add to it.

    #1 if you go to FB/TM event, leave your checkbook and credit cards at home.  

    #2 bring lunch and/or snacks and a drink.

    #3 you won't meet investors. You'll meet wannabe investors and FB/TM converts. These folks are likeable, nice people. You'll want to get on the bandwagon. And you'll hear enough to wet your appetite more. Their job when they arent making oodles in REI is to get you to join their club. That means to get you to buy in. Sort of like buying into a franchise which is an analogy they use often. They are all successfully using FB/TM models and systems and for a fee so can you.

    #4 find a few local REIAs and attend several meetings until you find one you feel comfortable in.

    #5 Read everything you can get your hands on.  Ask questions of people you meet and here on BP. Someone will answer you and it'll be free or no more expensive than a cup of coffee.

    Good luck.

     i like it! 

  • Buy & Hold Owner · Redlands, CA · Member since 2015 · 5k+ posts · 2k+ votes
    10y
    Originally posted by @Javon Varona:
    Originally posted by @Jeff B.:

    Leave your checkbook and credit cards home - - and go to BOTH!

    You can evaluate the value of information provided, the 'use my plan and get rich" vs the power of networking - - even here at BP.

    Remember simple truths: "if it sounds to good to be true - - it is (aka not true)".

    Members here don't get a dime to read and respond,  these guru's promise to tell you for a price - - and never do.

    Sorry to be caustic with this BUT

    •  "Anyone giving a guru 35k for information or tutelage is a fool". 

    With the Internet today, anyone can get good, valid, usable information for free.

     J,

    I would do both, but that's kinda of an issue. I can't drive (Not mobile right now) so I have to sacrifice one for thee other. If I could do both trust me I would, but our public transportation system here is not like California's unfortunately, and I will have a ride to the REIA meeting.

    Calif public transport is deplorable and almost non-existant.  SanFran Bay area has an effort and Los Angeles is barely visible.  Sorry to hear that transportation is impeding your progress.

  • Investor · Oxnard, CA · Member since 2014 · 438 posts · 187 votes
    10y

    @Javon Varona

    I'm glad that answered your question. I'm not saying there are zero experienced buyers who attend the seminar.  I wouldn't put it out of the realm of possibilities that some may attend to see what the seminar is all about, but if that is you purpose for going, I'm not sure you will get what you are looking for.

  • Kenner, LA · Member since 2016 · 28 posts · 5 votes
    10y

    @Kandice Ayo God is Good, All the time. 

  • Kenner, LA · Member since 2016 · 28 posts · 5 votes
    10y

    @Jeff B. I haven't been back home to Los Angeles since 2012, I have heard the horror of transportation in that area. But hey it's better than what we have publicly. Now the freeways or I should say Interstates you'll never sit in traffic. I've been here almost 5 years and when I was driving I had to only sit in traffic once.

  • Investor · Tempe, AZ · Member since 2012 · 22 posts · 9 votes
    10y

    Javon,

    Getting a buyer list is not a concern.  If you have good deals on the table, you'll have buyers.  At least, that's how it is in my market.

  • Kenner, LA · Member since 2016 · 28 posts · 5 votes
    10y

    @Cornelius Charles I am glad you're honest man. I appreciate it.

  • Kenner, LA · Member since 2016 · 28 posts · 5 votes
    10y

    @Tom Nguyen I am just afraid to get a motivated seller and not have the access to the right people.

  • Tucson, AZ · Member since 2015 · 8 posts · 1 vote
    10y

    The heart of the matter with Than Merrill and similar seminars are the crazy prices they charge.  Checkout Ebay for valuable continuing education at a fair price:  

    http://www.ebay.com/sch/i.html?_odkw=than+merrill%...

    It's too bad they do not actually show up at their seminars and provide everything for a fair price instead of turning into a carnival.  You will be hard pressed to find someone say giving them $50,000 was the smartest thing they ever did.  

  • Kenner, LA · Member since 2016 · 28 posts · 5 votes
    10y

    @Josh Willis Thanks for searching that ebay info for me man.

    Best,

    Javon

  • Surprise, AZ · Member since 2016 · 58 posts · 20 votes
    10y

    My two cents is there is NO right answer to your question @Javon Varona. But the logical starting place is going to a "free" local REI meeting (might cost you $20 -$30...). REI's can go one of two directions. There are another 10-30 of others just like you (beginners) that are really of no 'value' to you (hope you understand what i mean...). At my local REI, it is usually very challenging to sort through some 150-300 members once per month to find the type of people i am looking for. However, a REI can be a good choice but it can patience.

    Many are so quick to put down any and all real estate "programs". For the record, i have Not gone to Than Merrills' seminar, nor Armando Montelongos' nor Robert Kiyosaki's...to name just a few of the gurus. That being said, i know to make money one needs an "education" and knowledge isn't free, even in REI! Food for thought: If one buys 50 books about real estate at say $15/book, you've then invested $750+ into your investing education, haven't you? No one seems to beat up on buying books though.  

    Do whats "free" first and work outwards from there, however, don't think that spending smart money into your education doesn't create value into what you will earn down the road. 

    Best to you in your choices and journey.

  • Tucson, AZ · Member since 2015 · 8 posts · 1 vote
    10y

    @Javon Varona  Absolutely.  Keep us posted on your success...

  • Bob StatesPro Member
    Phoenix, AZ · Member since 2015 · 5 posts · 0 votes
    10y

    @Javon Varona - I attended the free 2 hr session for FB last year in Phoenix. I was already a member of BP at that time so I didn't really get anything out of that 2 hr session. At the end of the session, you will be presented with the "one time offer" of $197 for the 3 day course. When I was scanning the crowd at the free session, I got the impression that everyone there was new to REI. I'd be very surprised if there were many (if any) cash buyers at that type of meeting.

    @Kandice Ayo - I also purchased the $197 3-day course.  As a newbie myself, I have to say that I definitely picked up on 4-5 new concepts that allowed me to do further research on when I got home.  I'm glad I spent the $197 as I feel like I have already saved more than that in taxes  by structuring my S-corp and paying myself a fractional salary.  The concept of the bidding room at Home Depot  for large purchases was another big one that wasn't aware of at the time.  They will definitely try to sell you a $40K package and try to make you feel like you're one of the "chosen few" just because they asked you for your money.  Like the others, I was also asked to call all of my credit card companies to try to raise my limits and they suggested I try that every six months to gain access to additional capital for my flips.  

    Since I didn't buy any of their packages at the 3-day seminar, I was subjected to probably 5-6 calls from their sales group trying to get me to buy some "starter" package for around $10k.  I didn't fall for that either.  I had to just tell them to stop calling me.  

    The 3-day course was about 25% useful material for me and about 75% sales pitch to upsell you to the $40k packages.  I'm glad I attended. 

  • Phoenix, AZ · Member since 2016 · 2 posts · 0 votes
    10y

    My guess is the same things could be said about the Nick Vertucci courses and seminars? Bought his home study course for $300+. It's ok but I'm finding out through free reads that I could've saved the money and gotten it from BP and the REI. Friends of mine have already spent the $25K for the "bus tour" so I'm waiting for the other show to drop on that one.

  • Kenner, LA · Member since 2016 · 28 posts · 5 votes
    10y

    @John Duffy Thanks for your enlightenment.Your information has made me make a whole new decision. Now that I look at what you and everyone has said I feel that doing what it is free and engaging in BP will be a good start. I will attend a REIA meeting, but I will ask a bit more about my local meeting and get some feed back before committing to going, in other words I will sit tonight's meeting out and focus on my studies as I have been given a lot of really great new resources and information. I appreciate you Mr. Duffy. Thanks.

    Best,

    Javon

  • Kenner, LA · Member since 2016 · 28 posts · 5 votes
    10y

    @Josh Willis I sure will sir. Thank you.

    Best,

    Javon

  • Kenner, LA · Member since 2016 · 28 posts · 5 votes
    10y

    @Bob States Excellent post! My intention when posting this post was to see if there were any buyers at these events. Now that I know that there isn't at the Than seminars I will not was my time taking a cab to the event and then sitting there to be sold on a $197 3 day course. 

    I am interested in knowing a bit about two things you mentioned if you do not mind sharing. The "Tax" thing has crossed my mind. I own a legal entity (LLC) and just am doing my taxes for the first time today. When you speak of "Taxes" is it more so on how to file and form a Corp.? or actual tax filing or both? Also, I am not asking for free information, but I would love to hear about the Home Depot "Bidding Room" concept.

    I thank you for your reply!

    Best,

    Javon

  • Bob StatesPro Member
    Phoenix, AZ · Member since 2015 · 5 posts · 0 votes
    10y

    @Javon Varona - Please understand that I am not a tax expert by any means so please consult your CPA/tax adviser.  

    My primary job is as an independent software consultant. For that I formed a single member LLC years ago that was taxed as a disregarded entity to the IRS. This meant that all income I made (up to the social security/medicare cutoff) was considered salary and taxed at 15.3% for Soc Sec/Med (plus normal income tax). What I learned in the meeting was that if my LLC was taxed as an s-corp, I could pay myself a salary of approx. 40%-50% of what I made and only on this smaller portion would I have to pay the 15.3% for Soc Sec/Med taxes. The rest of my income is taken as an owner distribution on which I only pay normal income tax. This has the potential to save thousands of dollars. You can google for something like "How an S-Corp Can Reduce Your Self-Employment Taxes" for more info.

    The "bidding room" is a volume discount program at Home Depot for Home Depot Pro members.  If you plan to buy more than $2500 worth of products at one time, you can identify your list of items and submit it to the HD Pro department for a discounted price quote.  

  • Flipper · Huntington, CT · Member since 2017 · 1 post · 0 votes
    8y

    I agree that you should go to your local REIA. You'll meet great people looking to learn, buy, sell, hold. And, these like-minded people are ready to help one another!

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