DC Fawcett
Real Estate Agent · Salisbury, MD · Member since 2009 · 8 posts · 0 votes
I've been looking hard at DC Fawcetts plan, Virtual Short Sale Investing. For $997.00 he does it all and you get paid. Has anyone else looked at this? He says I will set up a real estate partner locally and show up for the BPO, make sure the paperwork flows and get 50% of the deal? He claims to have the money and the buyers lined up already. Oh yeah, $97.00 a month for his "coaching website" that I can cancel anytime. He only wants to make deals on half mil or more. I've got 144 oceanfront properties close to me in foreclosure so I could hook him up but.... any thoughts?
Bryant,
Please do not tell us he is great before you make a buck with his system.
Go out use his system, make a buck and then post us back.
99% of guru's use testimonials from students at his free seminars, these are the hopeful recently brainwashed folks who have just sat through a NLP laden sales pitch, and just shelled out $1000's of dollars on their credit cards. Of course these folks are going to have a positive response.
During these seminars, part of the NLP is to explain that the reason 99% of the students fail is because they are scared, or lazy and did not follow through.
Fear and laziness is generated by individuals who do not have the proper knowledge of the particular subject.
Excuse me don't these guru's think you might need some basic information, instead they charge you $997 at a free seminar, then $397 a month for as long as they can keep you strung along.
There is nothing simpler then doing a short sale, for crying out loud the bank sends you a short sale packet with all the info you need.
I did my first short sale 8-9 years ago, the lend just about held my hand.
What DC is teaching is you doing virtual short sales that is everybody does all the work for you so you do not have to learn how to do anything, just collect the check.
Sorry that is never going to happen, and if by some chance it does, you will have learned absolutely nothing about how to do a short sale.
Notice that DC started doing short sales in Florida, well Florida was just about the most inflated housing market in the history of the world. Nothing is selling in Florida unless it is a short sale. Even then it is hard to get the property resold as fear has gripped the market, who knows where the bottom is?
When a $2 million dollar house sells short for $650k then that is the real price of the house. Maybe it will actually close if the place is a primary residence.
DC is selling his courses just like nothing has changed in short sales, but everything has changed.
I challenge the guru industry to open their books, how much do they make doing their secret niche as compared to selling courses.
There is a guy still teaching fix and flips, Than Merril.
The fix and flip market is just about dead in most areas, but they are making huge amounts of money in the information sales industry.
What the heck, get rich quick that is the old strategy form the inception of mankind, and yet it is a rare occurrence.
So here we have it 99% of folks buying these course do not make a cent, they lose money from buying the course.
All of this info is available here for free, or at your local library, but neither here or at the library will you be told no work on your part equals get rich quick millions.
REI is just another job, as you actually do it, you learn and it becomes easy, and after time you will become wealthy if you ply your new learned trade.
This is unfortunately how the world works for 99.9% of folks. The others are born into wealth or hit the lottery.
I`ve been wondering about him also. And Jeff kaller who calls himself Mr. shortsale. wondering if he is all smoke or if there is really anything to them
As I told Robert in a private message earlier, DC Fawcett lives right down the road from me. I've never actually done any deals with him but he is a very successful and reputable investor here in the central Florida area. I'm also familiar with Jeff Kaller from up in northern Florida. Again, my personal experience is limited here but I read several complaints from other investors online that made me somewhat wary. Keep in mind that these could be someone that had a personal grievance with him about something but it did mention a real estate transaction my feelings were better safe than sorry.
The best short sale guy out there is Nathan Jurewicz. I have talked to him on the phone several times and i'm not even in the "coaching" program. As you can see I have tons of posts so I'm not an employee of his either.
I had sent him a message on a social networking site inquiring about buyers, and he responded with his cell phone number. Which I called, and he answered. He is totally the real deal and knows his stuff like nobody I have ever come across. His entire system is setup to where you don't talk to the banks, the seller or the buyer ever. If you're skeptical i don't blame you because I am always skeptical of gurus. Nathan is for real though i do know that much, i have interviewed people that work for him.
Blake, can you tell us in one or two sentences what this "system" is? If not, then how do you know that he's for real?
Mike
If you're not talking to the bank (lender, I assume you mean), the seller or the buyer, how does the deal get done? When you're doing short sales, you're acting as the go-between these parties. Pretty tough to be a go-between if you never speak to them. Or, does he just mean he does everything by e-mail, which I guess isn't talking in the exact sense of the word.
I am part of DC Fawcett, I am asking for a refund. Seems to be a great program BUT I need someone I can talk to or email and get an answer. With DC you email your question and than have to wait for the conference call twice a month to get an answer. Found that a little frustrating.
While looking for an answer I came across someone who would actually talk to me and I am not even in his system yet.
I've also been told to join a local REI group and I did. Between this site and a local RE group don't know if you need anything else..
Best of Luck
Jon,
I believe what Blake is saying is that Nathan has been able to set up a system to outsource everything. I have not personally purchased his course, however a good friend and experienced investor has it and has given it good remarks.
Hey Arlene, Thanks for being honest about DC Fawcetts program. I agree with you that it sounds good but you need quick communication to get things done. Since I made that post, I've joined facebook (I know Im way behind the times) and I've made a large network of "friends" and the information is great (and free)
:D
Sure here's how it works in a few sentences... He has 3 key members of his team. The agent who handles the A to B transaction. He has a negotiator, and he has a BPO agent that he uses to go meet w/ the banks BPO agent when they go to the property.
Nathan gives a cut of the spread to his negotiator and a bonus to his agents. H epays his BPO agent a set fee per deal. His program is designed on HIGH volume. He will do a bunch of deals that he makes 15 to 20k on VS a couple where he makes ALL the profit.
He outsources everything. Each of his team members has a specific role in the transaction. He doesnt talk to the bank because his negotiator does this. He doesnt collect hardship letters and any seller info on the A to B because his agent does this. Many agents frustration is in attempting to work the transaction on the A to B side as well as the B to C side of the deal, AND deal with the bank negotiations. Nathan has eliminated the need for agents to do this so they can focus on selling.
Lots of people ask, well what if the spread isn't large enough for him when the short sale gets approved?? Answer... he values his relationships w/ his agents so he lets them go forward w/ it anyway and collect their commission. This works because he does so many deals ((he personally has over 100 in process at any given time)) it doesn't matter if he makes little to nothing on a few.
He files a notice of option right off the bat, this helps with the 90 day seasoning when it is flipped to his end buyer. I can understand how it doesnt make sense that you would never tal to the seller. He is able to do this because his team is trained to know EXACTLY what his criteria is for deals. He only does this in the Tampa market too.
Sorry for the long response, that's the best way I can explain it though. Have I closed a short sale yet?? No, i'm still building my team. I know he does this though everyday, and is quite successful at it. Hope that helps clear it up a little better.
if i were a betting man i would also purchase nathans cours,he was also once preston ely's roomate he also came from the ground up in this game and is not reaping his rewards averages good money monthly and how i know this is because i've spoken to him a few times as well on a social networking site,you all should hit him up he answers his own emails as well
Regarding DW Fawcett: I like the theory of his system because he puts up all the money. The trick is: You have to have funds into escrow for 24-48 hours, then a check is cut to you. But these deals are in excess of $250,000.00 ...I don't have that to even borrow short term. Is there any other way to do it?
Hello, new to this site, but not to investing.
D.C, Fawcett's system is exactly that a system. You have to sign on for the $5000 grand deal to make it work his way.
Now that may seem kind of high priced, but if you know nothing about investing and have no money to invest what is your plan B?
Your plan B is to take the time to learn the business, the way he and all other successful investors did. Trial and error.
Btw, D.C. is not a rip off, I am was but am not currently his student. I am going it on my own as I have access to big bucks for the AB transaction.
Did you ever join DC"S program?
Can you send me that letter?
I have a agent that will give me his highend SS deals,
because he doesn"t want to do the SS nego. :D
As for that letter, he gave it out to anyone that was viewing his seminar on short sales and I haven't looked in a while but there was a link to it in his blog on Facebook.
I wonder if you can point me to some of the good negotiators and companies who will charge 3 or 4 points for a day or 2 to fund transactions? Thanks in advance
I have been reading these posts in this forum and I am very impressed at the amount of coverage on both Gurus. So what is the verdict Nathan Jurewicz or DC Fawcetts plan?
Personally I have material from both and have had DC’s coaching on the internet for $49 a month the information seems generic and long to reply questions. I was not aware that they will not work with you unless you pay the $5k for the whole program.
I just closed on my first short sale deal and I used “The Short Sales Riches [System]†by Nathan Jurewicz and Chris McLaughlin to prepare my documents and followed there plan. I was not able to sell the property to an end user so I sold my option to an investor, made $3,500 for about 2 months time. I did not use any funding.
I know they these 2 guys know what they are talking about, my question to you guys is which is better to follow for the part-time low priced home investor?
Thank, looking forward to networking here for a while.
Enrique
Bryant, you quoted...
>>>He also has a $25,000 offer for you when you do a deal that is over $100,000 plus when you do your first deal, you get your money that you paid for the course back double of which I have already done. Don't waste the time deciding on which one to go with just go with somebody that knows what they are talking about and go for it. Hope my two cents helps. Good luck. <<<
So you went with DC's program and you made a deal and got a refund on your investment along with your profit / commission?
If so great job what area of the country are you in?
Good luck, and keep in touch - OK!
Stay away from DC. I signed up and immediately sent in a question about getting a deal done that had a foreclosure sale date looming. They never responded to the question but said I had to wait for a monthly conference call to get the answer.
The 'coaches' he had answering the questions are lame and give half-assed answers (by design I think so you'll sign up for the $5000 level coaching)
They never really answered my question at all despite me telling them about the urgency. My seller got frustrated and got tired of waiting for me, gave up and eventually lost their house at the foreclosure sale.
Later one of DC's virtual assistants informed me that in order to get real responses to questions from the company I had to pay another 5000 dollars.
I asked for my money back right away. That was 3 months ago. I cannot get anyone to return my calls or emails now...despite several emails and phone calls and messages left for them to refund my money.
Also he takes 50% of your deals just to have someone negotiate it for you. Ridiculous.
I am now using my own negotiator.
I also just found this report about this DC clown...
http://www.ripoffreport.com/Credit-Debt-Services/D-C-Fawcett-6daysale/d-c-fawcett-6daysale-com-dc-m9928.htm
Hi Jay,
Just curious, how did you go about finding a reputable negotiator?
This is all new to me. Fawcett's program is certainly enticing for someone who is new to learn the ropes, however I am not interested in throwing my money away either.
Thanks!
Danielle
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Just Me this is Enrique I have see a little of both programs but did not buy any coaching.
In my onion both are very professional and will great for any beginner, personally Jurewicz kids gets my final vote.
Hope this helps you,
Enrique