Connected Investors Largest REI Scam on the Internet

Connected Investors Largest REI Scam on the Internet

Investor / Contractor · Sierra Vista, AZ · Member since 2015 · 13 posts · 76 votes

We signed up for Connected Investors 9-4-16. At the same time we where gullible enough to likewise put out information through the CiX site looking for lenders. Allegedly all the lenders on the CiX site have been vetted and are legitimate. Having said that, let me share with you what we've learned and experienced in the time (nearly 6 mos) we have been on this site.

!. Since 9-4-16 we have been contacted by 63 so-called private money lenders not affiliated with CI or their supposed list of vetted lenders. Not 1 lender has proven to be legitimate. Never mind the qualification that may have been requested. When these lenders were investigated; addresses turned out to be phony, licenses when claimed false and virtualy 61 of them wanted up front fees in order to process the loan. The smallest upfront fee was $1200 and the largest $10,000. 58 of the lenders required copies of our passport.

14 lenders were in the criminal data base of Interpol; 28 were in the in the financial crimes data base of Nigeria and 4 were listed in the Interpol data base connecting them to Russian mobs!

2. Of the dozens of REI's we shared deals with; not one was able to complete a deal. Ultimately it always boiled down to their inability to close due to funding problems. (Lack of money period in 85% of the transactions).

3. It is true that Ross Hamilton as assembled the largest social network for real estate investors. And like all the gurus, (Childress, Dave Galegor, Cantwell and the list goes on)...they pitch their seminars and courses; charge ridiculous amounts of money for outdated or information one can obtain for free with just a little bit of effort. The stats for 29,000+ investors on CI, who have successfully built or substantially expanded their business through CI is less than 5%. Just ask some of those who are begging for business hookup...how many deals have they closed directly with another CI investor. You will be shocked!

4. Rip-Off Report has plenty of people that have finally awakened to the fact that CI is nothing but a very cheap and ineffective gathering spot for REI's wishing against hope that somehow they will connect with a successful transaction.

5. During our miserable experience we presented 14 deals; not one of them closed as a result of CI contacts. We did however close successfully all 14 by simply using reputable resources such as Oncarrot, AWeber, Sales Genie and several other sites. If you pay attention to these gurus you begin to realize they are similar to a "tag team" wrestlers on WWF (fake too by the way)...one so-called "expert" REI will ply his crap for a while and then all the sudden another guru pops up touting the advantage of using this other gurus slop...but in the end its all the same swill.

6. Ross Hamilton knows full well the kind of people that promote their garbage on his site. In fact we know that two separate state law enforcement agencies are currently investigating several so-called lenders who were advertising on the site.

7. One of the most glaring signs of the scam oriented site that is CI...should be the fact that CI and CiX support Josh Cantwell. Cantwell is even more odious than CI.

In short we have determined to work with several agencies to see that CI is held accountable for the rip offs and scams that are perpetrated daily on the site.

If you are truly in search of legitimate funding; private or otherwise, you will find that real, honest lenders have nothing to do with these kinds of sites. They realize that licenses and possibility of severe criminal prosecution isn't worth the risk. Do your due diligence and search out legitimate lenders.

It's worth noting that COGO Capital is on the CiX "hit parade" but I can tell you with certainty that our experience has been nothing but 100% positive. They have funded many of our deals. Another agent of integrity can be found at funding by mary at g mail.

8. Lastly in taking the CI training we soon discovered that it is a gigantic sales pitch for more money and products that are never delivered. Again as we have reaffirmed in our business; there are far more effective products and tools available for ultimately far less money. The deals referenced above all came to a successful close as a result of those tools. Oh...and by the way we made a total of $143,582 total off those 14 deals. CI had virtually nothing to do with any one deal...period. 

I will give credit however to CI, in that we learned a multitude of things NOT TO DO and how to better refine our associations with those who are real REI's.

Conclusion: Connected Investors is a rip-off, scam and nothing short of a criminal enterprise!

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Most Popular Reply

Jay HinrichsBusiness Member
Real Estate Consultant · Summerlin, NV · Member since 2014 · 45k+ posts · 66k+ votes
9y

interesting ...  I looked at CI and did not like it.

however be aware that those same nigerian scammers troll BP.... anyone looking for up front money is until proved otherwise a scammer. end of that discussion.

CI wanted me to advertise on their site for my funding operations I refused to do so.. Just like I don't advertise on BP... too many rookies drive you nuts.

See this reply in the discussion

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  • Rehabber · Ocoee, FL · Member since 2016 · 5 posts · 25 votes
    9y

    This is very interesting Jason & Josh. I have not spoken to your people "6-8 times" or "on a few occasions". I have never been offered any other lenders to work with. I was not refunded all my money either. In fact, this is the first time I have had any contact from you or your people since I put in my deal & found out your requirements had changed! Why is that? If either of you actually knew about me & had your facts straight, then you would know I have an LLC, I have experience in rehabbing & I have a partner with experience. As you have mentioned, I was ill for several years then had to start over, that's not easy at my age. So I guess I was gullible for believing what people told me, especially when I was struggling. I thought you would understand that Josh, since you went through a serious illness.

    I tried to discuss this in a "professional & private manner", I gave your people numerous chances to contact me & then I just got mad!  I've been waiting to see just how long it took someone from your companies to actually react to my posts.  Funny, it took over 18 mos! I don't appreciate being told I can't "move on" or am "unclear or confused" because I am telling people the truth. I am aware of the inspection & appraisal costs, points & interest, that's not what I have a problem with.  I am not "upset", I have "moved on" & my real estate career is doing well.  I just don't think it's morally right to lie to people & I don't like to see people taken advantage of! 

    The great deal, I had & lost, was for a house that had the opportunity to profit over $200,000!  I was NEVER given the chance to pitch this deal. When I finally spoke with one of your people, after leaving several messages & never receiving a call back, all I was asked was what my credit score was, what my income was & how much I could put down!  So explain that to me Josh!  

    I would be happy to stop posting about your scams if I had ANY reason to believe that I was or am wrong. I am not the only one to say these things. You have every right to promote what you offer but you don't have the right to continue to lie & mislead without consequences! 

    And by the way, 100% NO money down means exactly that!  If it doesn't fit with what your program is all about then you shouldn't say that!

  • Rental Property Investor · San Diego, CA · Member since 2013 · 3k+ posts · 4k+ votes
    9y
    Arguing over the internet is like nuclear war. No winners. Only losers. Both sides look bad. Donna Carroll , why are you arguing with a company via the comments section of a public website? Sure your review of these "connected investors" makes them look bad but quite frankly it makes you look bad too. I come out of this not wanting to Wirth with either of you if given the chance.
  • General Contractor · Palm Desert, CA · Member since 2016 · 197 posts · 79 votes
    9y

    Find a mentor, hire a coach and read LOTS of books

  • Wholesaler · Chester, VA · Member since 2016 · 8 posts · 6 votes
    8y

    I can say from personal experience that Connected Investor and the  CIX Referral Service is a very large and ELABORATE SCAM.  After signing up for the referral I was contacted by many supposed lenders who knew personal info from the application.  Later I found out that they were all scammers.  After some research I selected one.  He had a Facebook profile and a Linked in page as well as a web site.   He also came recommended by someone claiming to be the VP of Marketing from CI.  I even called the company phone number on the web site to confirm that I was corresponding with the VP Of Sales. 

      They don’t have an office but a single person who answered. (I should have known then.).  They claimed that he was unavailable but confirmed it was him.  They said that he would contact me.   Again I heard from the scammer who claimed to be him and vowed that he would personally guarantee the transaction.  I still tried to research the lender who had a Linked In profile, and web site and a personal guarantee, so, I applied and lost $1,500.  

     CI takes money from genuine lenders who pay to be listed on the referral service, then the scammers write to those who apply for funding using the credentials of the legitimate lender.  I found this out after I tracked down and spoke to several legitimate lenders who paid thousands to be listed in the Referral Service but were never received a referral from the site.   Thus, the owners of the CI web site are stealing from the lenders and the borrowers. In my brief investigation I discovered 4 experienced lenders and borrowers who had lost a total of over $20,000.   

  • Flipper · Asheville, NC · Member since 2017 · 1 post · 8 votes
    8y

    bought into connected investors in march 2017. Could never access the promised info. Reached out by phone email and text multiple times for assistance. Never got a response. I finally spoke to someone after a year of attempted calls etc.. who promised to cancel and refund. That was in feb 2018. I was just charged another 97.00 April 13th. I called and was directed to leave yet another message that will probably not be returned. I hesitate to add up all the money they've charged me because it makes me feel like a fool. But I'm sure it's around 2500.00 at least.  For absolutely nothing.  These people are criminal and should be taken out of business.  Don't fall for their ads.  Scam artists all. 

  • Residential Real Estate Broker · Anaheim Hills, CA · Member since 2015 · 2 posts · 13 votes
    8y

    I subscribed to Pinpoint Profits recently and now that we have had a chance to actually use the program we have determined that the information is garbage and the software is very glitchy. Most of the phone numbers are incorrect, the person doesn’t match the property, and properties showing as “new” and in pre-foreclosure have already been sold at auction. This software does not live up to all the promises at all, and I beg you not to waste your money like I did.

  • David RobertsonBusiness Member
    Flipper/Rehabber · Kansas City, MO · Member since 2010 · 758 posts · 780 votes
    8y

    Hi @Shannon

    Sorry to hear about your issues with Connected Investors and hope you can get a refund.

    I saw some people looking for feedback on the Pinpoints Profits program over on the Real Estate Technology Forum, so it might be helpful to post your experience over there as well.

    https://www.biggerpockets.com/forums/80/topics/556...

    FlipperForce
  • Specialist · North Hollywood · Member since 2017 · 71 posts · 19 votes
    8y
    The comment about Nigerian trolls spamming BP reminded me of this hilarious ted talk about what happens when you start responding to scammers :) https://ted.com/talks/james_veitch_this_is_what_happens_when_you_reply_to_spam_email?utm_source=sms&utm_medium=social&utm_campaign=tedspread
  • Winston Salem, NC · Member since 2017 · 201 posts · 56 votes
    8y

    i haven't signed up for any programs with cix investors. I agree with people start with local realestate groups. These programs even the gurus say consult with your attorney, make sure there are no Loophole's, stuff in fine print, what gets people, you know stuff you need a magnifying glass to see lol. Everyone entitled to an opinion, what works for some may not work for others. I had friends buy stuff and it works and others it dnt. Weird part is how come it doesn't work for everybody? Many gv up listening to others. People easily persuaded, do your own homework dnt listen to the broke friend lol

  • Developer · Bowie, MD · Member since 2017 · 110 posts · 22 votes
    8y

    @Allan Goetsch or any one on BP. How do you find such information on lenders or anyone you want to verify legitimacy.  Allan talked about finding information like: the criminal data base of Interpol; 28 were in the in the financial crimes data base of Nigeria and 4 were listed in the Interpol data base connecting them to Russian mobs!

    I would like to be able to check for this type of information if legally possible.

  • Member since 2018 · 24 posts · 9 votes
    8y

    Quite the dramatic thread here.  I always laugh when hear someone ask for upfront fees.  And even for chosen purchases it is always with a service or credit card which can be disputed.  Thanks for all the input.  

  • Specialist · North Hollywood · Member since 2017 · 71 posts · 19 votes
    8y
    John Webster it appears to me that the reason the guru lessons work is for the same reasons expensive gym memberships do because of the work put in. Some people put the work in at the expensive, some don’t. I guess the beef with lots of guru classes is that we can do the exact same pushups at BiggerPockets as we can at an Equinox.
  • Real Estate Entrepreneur / Investor · Chicago, IL · Member since 2016 · 688 posts · 367 votes
    8y

    wow lol.....I’m laughing because this does not surprise me. It’s so many scammers that are getting into real estate every month from what it seems. One goes away and another pops up....So many fake lenders or lenders who actually screw you over.i have posted about my frustrations with lenders so many times on BP. With the exception of Lima One no one else really seems legit that I have had experience with. My partner and I are STILL looking for a good hard money lender and private money lender for future Illinois deals. 

    I really wish there was some kind of ranking system here on BP. To rate HML/PML because lenders are screwing over so many people. I understand there is politics with doing this but I personally think it would mean a lot to newbie investors and experience investors who aren't familiar with the process of a particular company or person. Or could BP maybe add in a section somewhere on the forum and let us add companies and leave reviews about them. Is this possible?

    @Brandon Turner @Mindy Jensen 

  • Winston Salem, NC · Member since 2017 · 201 posts · 56 votes
    8y

    Yeah anssi i agree. Also, i would add that The cost of these programs imo i dnt see the big deal only to the effect that in the world how many people drop that kind of money some gurus ask for on college to be a server, working in retail or flipping burgers, stuff you dnt need a 4 year degree for. Look how many continue to go to college knowing most dnt make it anyway. I have friends drop 40 grand plus making very little cause of major , take years to pay back yet say I dnt see how people drop 30 grand on a program lol. Some spend that kind of money and get taking advantage of and some dnt. To say cheaper alternative to expensive programs is the same as there is cheaper alternative to a bachelor's degree both is true

  • Winston Salem, NC · Member since 2017 · 201 posts · 56 votes
    8y

    yeah anssi people look at the cost rather than the value. What I mean is I had a friend  spend 50 grand on a program people laughed blown away..the templates they have alone has saved him more than he spent especially when dealing with contractors. I just use his stuff now . do people need gurus no..realestate like anything depends on person. I am betting most have bought some form of guru training..I see many say dnt need trainings just listen to.cd's and read books. Where you think.the books and cd's come from. A successful person selling info..definition of guru.

  • Winston Salem, NC · Member since 2017 · 201 posts · 56 votes
    8y

    yeah Elbert i agree i dnt see them allowing it though, but who knows. I haven't had a bad experience with a lender yet. Maybe one day they did what they said. My deals usually so good they dnt want to lose me, hell they call me asking about next deal. Average person making what 50k a deal or so they come a dime a dozen, easy for some to take advantage of people lol

  • Winston Salem, NC · Member since 2017 · 201 posts · 56 votes
    8y

    Dang donna hate to hear that. What i dnt understand is why are people using companies like cix for investors. Good deals are going to easily find money. There are lenders in all states drooling to fund 200k potential profit deals. I get emails everyday and calls from lenders ready to fund next deal. Especially Florida, Texas and California.

  • Investor · Richmond, VA · Member since 2018 · 8 posts · 4 votes
    8y

    Wow, that's crazy. Thanks for the heads up!

  • Member since 2018 · 7 posts · 0 votes
    8y

    Concern!

    I watched Ross Hamilton’s webinar. It seems like a state of the art tool to access motivated sellers. CI is asking for 1495.00 to get access to this IT tool then after 6 months the investor pays 79.00. Any advise? Any much appreciated. Ty

  • Rebecca R.Pro Member
    Real Estate Agent · Lanham, MD · Member since 2016 · 107 posts · 27 votes
    8y

    @Jackie Paugam  I just watched the Ross Hamilton Webinar today and had my credit card ready to pay the $1497 (today's allege special price, plus a monthly fee after six months) but came across this discussion on BiggerPockets.  I thank God that as I was googling his Pinpoint Profits website which appears to be connected to CI this discussion came up on it previously being a scam. 

    So before you give them your money you may want to read this discussion forum from the beginning and do more research on Ross Hamilton, CI and his Pinpoint Profits before you decide. I don't know if they changed their practices or not but I'm not chancing losing any of my hard earned money to them.  Wishing you the best!

  • Member since 2018 · 7 posts · 0 votes
    8y

    Rebecca Ramos...TY

  • Rebecca R.Pro Member
    Real Estate Agent · Lanham, MD · Member since 2016 · 107 posts · 27 votes
    8y

    @Jackie Paugam  You're welcome.

  • Winston Salem, NC · Member since 2017 · 201 posts · 56 votes
    8y
    I saw somebody post about rookies driving them nuts. Seeing how the national avg take home from a fix n flip is only 15k that has to do with veterans too messing up somewhere. Why go through all the headaches for so little? As far as ci I think it depends on person works for some and not others. has to do with program and some the people over complicating it. Not rocket science to figure out where to get deals. As far as funding some probably got funding from cix, I dnt know anybody personally but not rocket science to find lender's either.
  • Member since 2018 · 1 post · 1 vote
    8y

    Hi,  I just came across this site as I was looking for reviews on CIX....and glad I did....

    I listened to Ross Hamilton on a webinar the other night and was all enthused, but very disappointed when I realized it was going to cost me some big buck to get the actual real tools...sounded pretty impressive however, and then confusing at the same time....Why, if this guy is making such a fortune, is he soliciting this program to begin with????  Or is he just using his students to get deals from, steal deals, etc..?????   

    I got a text message from Junior at CIX yesterday inquiring about my interests, so I called him back, asked how much the program actually cost, he said $297 & $37/month for the Dog Deal....I asked if it could be paid over time....No....OK....

    Today, Junior just called me back and offered me the same entire program....Really Flip for $197 until Friday midnight 8/24....Hmmmmm   I was seriously considering it until I started looking for reviews and came across this site...

    NO THANKS.....I've found more valuable information on this forum itself that I can check into...I already know and was working with a local investor and he doesn't use anyone's $$....offers the buyer a little earnest $$ and has him sign a 30/60 day contract to purchase the property & goes out in that time to locate a buyer & takes the seller & buyer to the closing and walks away with his part of the profits....Buyer and Seller never get to meet one another....

    Biggest problem is finding the good deals...there are signs on every street corner, "I Buy Houses".... I think maybe the free website for CIX for networking, might be the only real advantage, or just a wild goose chase...but I would just use it to my advantage.... 

  • Member since 2018 · 1 post · 0 votes
    8y

    thank you very much, I was about to fill the form with then

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