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Galegor, Cantwell and the list goes on)...they pitch their seminars and courses; charge ridiculous amounts of money for outdated or information one can obtain for free with just a little bit of effort.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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  • Ian WalshBusiness Member
    Lender · Philadelphia, PA · Member since 2016 · 2k+ posts · 1k+ votes
    7y

    Knowing your local lenders can really help.  Just like learning your market values, learning the players in your space goes a long way.  

  • Member since 2019 · 2 posts · 0 votes
    7y

    Hi Alan

    what company do you use for flipping or wholesaling real estate? thanks

  • Member since 2019 · 2 posts · 0 votes
    7y

    Hi there, anybody please help, how can I find an address from a Parcel number? thanks

  • Specialist · Northern, CA · Member since 2017 · 182 posts · 34 votes
    7y

    Ross Hamilton (or whatever this nasal tone, sleazy little self described: "ex dumpster diver's" real name is?) has to be a "front man" for someone else. When I signed- up for CI two years ago or so, the ONLY person I was able to contact there more than once, and get ANY QnA 'resolution' from, was their "tech guy." All one need do is listen to (as hard as that IS... with that annoying VOICE!) Ross talk about how his software is "so revolutionary..." and the analogous endorsements of his "wonder wares," to conclude that this guy is about as "smarmy" as they come... The kind of salesman you'd expect to encounter on a used car lot, reselling defective cars auctioned for a grand, listed for $4995.00 OBO at only 30% interest. 

    It would be one thing if this self- proclaimed "tech company" was just using people as "deal dogs," then "skimming the best deals," or taking say 50- 80%... but apparently they aren't CONTENT with a "one trick pony" scam, so just have to run several, at once. (And the "deal finder software" scam seems to be the HOTTEST "smoke and mirror" fogger, of the moment. Either that, or the "hot prequalified leads" gig, where they skim- off the cream from the results you just paid FAR to much for!) Rule of thumb: If they SOUND LIKE a "better buy now, before the door closes" artificial scarcity model peddler, then better take it for a click tunnel "test drive," and ALWAYS maintain defacto "veto power," via potential charge- back!!!  ;-)

  • Rental Property Investor · Ithaca, NY · Member since 2015 · 1k+ posts · 1k+ votes
    7y

    @Alan Goetsch

    When banks say no call COGO! I mean who doesn’t use them on all their deals?! Sounds totally legitimate.

  • Specialist · Northern, CA · Member since 2017 · 182 posts · 34 votes
    7y

    @Gilbert Dominguez

    @Gilbert Dominguez If one prefaces that the basic 'premise' of certain 'groups' today is indeed: "scam or be scammed..." then the whole "do as thou wilt, is the whole of the law" faux reality paradigm 'system' soon begins, to take shape. Then factor- in the Temple BAR 'legalese,' UCC and Crown livery "corportization" with their post 1945 UNitization of front facade subsidiary "nation states and territories" (and that there are no more "sovereign countries," save the remaining few still without a PTB "central bank...") and a BIGGER PICTURE 'insight' then begins, to EMERGE. Meanwhile, "scamming people" seems to be the "new norm" for those who are to foolish to "live by the Golden Rule..." and think that "he who owns the gold, makes the rules." (e.g. Late period Babylon, or Rome 2.0.) Funny how "acquisitive eras" never seem to LAST even 300 years... then are somehow ALWAYS followed by "warrior eras." Basic LAW of 'physics...' Just sayin' ;-)

  • Contractor · Chicago, IL · Member since 2019 · 22 posts · 10 votes
    7y

    I don't think Connected Investors is a scam, I think they are still in the beta phase of their site so are probably working out all the bugs (this one seems like a pretty big bug I have to admit).  The thing is though that there are tons of scammers everywhere.  Anytime a so called "lender" wants money up front, its most likely a scam. How do I know?  When I was new to the biz I paid this company a few thousand dollars up front because I was desperate and wanted to do this one deal so badly.  They ended up connecting me to a lender that was like 10 points and over 20% interest which was probably another scam.  Needless to say, never pay anything up front unless you physically know people who can vouch for them and even then be weary.  

  • Winston Salem, NC · Member since 2017 · 201 posts · 56 votes
    7y

    it doesn't matter who the guru is or what they offer, people will have something to say . most I guess are anti guru. H

    .

  • Metro Atlanta · Member since 2019 · 1 post · 1 vote
    7y

    Anyone have information on Spectrum REI Loans? I have a feeling it is too good to be true. They are trying to set me up with a 0% Interest Line of Credit.

  • Member since 2019 · 6 posts · 1 vote
    7y

    I do not have any real estate investment experience but I am very motivated to get started. I've seen sooo many webinars and don't know who to trust.

  • Investor · Salt Lake City, UT · Member since 2013 · 84 posts · 38 votes
    7y

    I just wanted to say thank you to everyone for posts like this.  I signed up for the webinar and then Googled Ross Hamilton.  You saved me 2 hours on a useless webinar. On to bigger & better!

  • Flipper/Rehabber · GA · Member since 2019 · 8 posts · 16 votes
    7y
    I thought the same thing from the looks and feel of the site. I come from a tech background I thought “Maybe their not finished” Good to hear they are making improvements.  Luckily i’ve  done many deals with investors I know personally in the past. From my experience with them I’ve always been wary of lending industry But this software PIN is very innovative and maybe helpful to my goals Overall I think Connected Investors have good intentions. The software will be only good as the people who use them... 

    Originally posted by @Josh Inglis:

    I don't think Connected Investors is a scam, I think they are still in the beta phase of their site so are probably working out all the bugs (this one seems like a pretty big bug I have to admit).  The thing is though that there are tons of scammers everywhere.  Anytime a so called "lender" wants money up front, its most likely a scam. How do I know?  When I was new to the biz I paid this company a few thousand dollars up front because I was desperate and wanted to do this one deal so badly.  They ended up connecting me to a lender that was like 10 points and over 20% interest which was probably another scam.  Needless to say, never pay anything up front unless you physically know people who can vouch for them and even then be weary.  

  • Ft Wayne, IN · Member since 2019 · 2 posts · 1 vote
    7y

    I'm listening to his spiel about PIN at this very moment. I was pretty excited about it until I saw the price point. I looked for a review and found this thread. While he's still chattering along in the background, I'm completely turned off. If this "updated daily list of hidden deals" is so great, why isn't there forums raving about it?

    Unfortunately, I was connected to the webinar after sending my information through CIX for a hard money loan... Guess I'll be blocking a lot of emails in the next few days.

  • Roni E.Pro Member
    Specialist · Earth 2.0 · Member since 2019 · 598 posts · 271 votes
    7y

    Good thing you did your homework. I would speak to your local banks and still do your home work form there. 

  • Specialist · fremont, NE · Member since 2014 · 161 posts · 42 votes
    7y

    CI has virtually become garbage. I've reached out to a few people, and they PM on system, and CI has the "show phone number" link, and you could click, and see the number. Now, it just does a member search. I asked the chat support person, and they said "...it's for security, to keep conversations on platform." So, they no longer want you talking off their system, because if you're not on their system, they can't control you, or offer you their worthless garbage.

    Deal Dog: Garbage. It pulls feed from CL, and I've found tons of them to be for so-called PML listings (which are almost always HML!); a few times, I went to the CL listing, and it was deleted, or "no longer available." The auction is just pulled from sites like auction.com. In short, everything there, you can get, for free. The gradings (A-F), are fairly accurate, but not worth the monthly fee.

    I haven't used the PinPointProfits, but it seems like "+DealDog." And I heard nothing but complaints on the site about it.

    Many "wholesalers" deals are so much garbage, that when I ran the numbers, there was nothing to flip to, "no meat for the flippers."

    I recently went to the forums, and EACH AND EVERYONE is FLOODED with "I need deals," "I need cash buyers," etc. Even in the "beginners" section, it's flooded with that. "CI products and services reviews." Same thing. Those should be in the deals section, lenders, or such.

    Oh, and of course, the infamous "CiX." You post once, and your email will be flooded *for months* with scammers. Most don't even have a site or phone number in their message. Most also use a Yahoo/Gmail account...yes, I know some here will say they use one or the other, although with sites like mail.com or mail2world, you can at least get a semi-professional looking domain, it just adds to the red flags.

    I think their search bar is one of the worst, but maybe that's a tech issue...

    I occasionally go there, mainly to network, and try to find people I can work with, off CI.

  • Member since 2019 · 22 posts · 0 votes
    7y

    @Alan Goetsch thank you

  • Member since 2019 · 1 post · 0 votes
    7y

    Alan Goetsch i went thru the Connected Investors (Imposters) presentation and was very intrigued with the software that tracked off market homes that could be potential leads with the owners contact info.  They called it Pin 4. Is there software out here besides what CI offers that does the same thing??  Thank you for your help.

    Tom Theiss

    Indianapolis IN

  • las vegas · Member since 2019 · 26 posts · 11 votes
    6y

    Yes, I found this article on how connectedinvestors is HYPER sensitive when it comes to blocking and banning members, for no apparent reason: http://www.onmyminddaily.com/c...

  • Member since 2020 · 1 post · 1 vote
    6y

    I just watched CIs webinar had to stop B4 the end  I wanted 2 bop the dude in the mouth..Car sales man 2 boot.  I did some research 4 complaints while listening 2 the webinar. ROFLMAO  REALLY  if this dude was 4 real and their Software tht does everything ...does all this accurately and just press a button and find money YEAH right  and they ONLY OFFER a 3 day offer 4 REFUND  tht right there is why I am laffing  That tells it all  If U have a GREAT honest working product U do not have 2 Hit & Run  

    Thx 4 your comment

  • San Luis Obispo, CA · Member since 2016 · 19 posts · 13 votes
    6y

    I'm listening to his webinar right now.  So glad I came to Biggerpockets!  I appreciate all the feedback, I'll be blocking this scammer.  So sorry for all those that had to find out the hard way, but just know you have paid it forward educated us and saved us from a financial loss, wasted time and stress.  I live paycheck to paycheck trying to filter out all these scammers while trying to climb out of this mess.  Thank you to all who contributed!

  • Member since 2018 · 1 post · 1 vote
    6y
    Wow ! Lily (b.t.w. I am originally from Arroyo Grande / we should chat) & everyone else here on this thread. I am literally listening to the webinar at this very moment. I'm ending it now (stop webinar) & re focusing my time & energy here in Bigger Pockets. This is where the real value, the real people & the real connections are made !
  • 1 Union Ave #2754, Bala Cynwyd PA 19004-6754 · Member since 2020 · 5 posts · 3 votes
    6y

    I bought ReallyFlipNow from CI. I have been having trouble finding a good deal on DealDog. I keep getting a lot of Craigslist listing. I gave the log in to my associate and he said get your money back they're not providing you with the deals they say in the video. I find a lot of REI videos say they have a free webinar to sell you expensive products that the everyday person doesn't have this type of money laying around. I have spent a month trying to find a good deal on this program but all the ads I see end up being Craigslist. This program cost me $297 April 6,2020. I expected to make a deal by now April 22 because they say you can find all these deals that are hidden so you don't have a lot of competition. I need to pay my bills. It's the end of the month. I've been trying to find a mentor to JV with and flip at least 4 properties by now. If anyone lives in Phila PA I really want a mentor in Philly. Thanks. Blessings.

  • Wilmington, NC · Member since 2018 · 10 posts · 2 votes
    6y

    I watched the webinar and am local to Wilmington NC, where they are from apparently. I got an offer to purchase the $1500 package and PIN 4.1.  Seemed OK but I currently use Propstream and it had a few things that were interesting but not really much other then the included skip tracing which could save me some money if its accurate.  Ive been emailing Junior and am wanting to go by their office to see whats up there.  You can do a street view of their office but it doesnt show much.  

    Also theres some other locals that seem to vouche for CI and PIN that I cant say I personally know but have seen deals they have done and know they are active investors in my area.  One of the guys actually flipped a house on my street that I happened to miss, was a bit upset about this and watched it very closely as they renovated and sold it. 

    Anyway, I plan on checking them out a bit more to see what they are about, hopefully I can give some incite here for people looking for info.  

  • Rental Property Investor · Oakland, CA · Member since 2020 · 5 posts · 1 vote
    6y

    Thanks for the thorough analysis.

  • Real Estate Agent · North Myrtle Beach · Member since 2019 · 9 posts · 10 votes
    5y
    Originally posted by @John Thedford:

    Crooks are everywhere. CI, Craigslist, BP, anywhere they have an opportunity to find a sucker. Note the most common trait all the ripoff lenders have: they want advance fees. 

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