I just purchased â€œthe simple manâ€™s guide to real estate.â€� Has anyone tried it? I looked at several others before purchase. It cost about$110.00. I got a manual, a contract maker, and I paid $10 to get a coach for 2 years rather than just 1 year. It is also a not for profit. I guess I had little to lose. Tell me your thoughts?
i have been looking into purchasing the simple mans guide to real estate. i am curious as to if the program lives up to its claim on the website. is it as clear and complete as stated? more importantly how is the coaching?
I haven't used the coaching. I am now working with some investors in my area. So I am learning in the feild. It is a good program it is bare bones in a three ring binder and a few CDs including the contract maker. All the mentoring is done via email with no attachments. Now I never used it but it did feel like it was limited from reading about it. For $100 it is a good deal for what you get. The mentor asigned to me was Bill Vaughn.
i just checked out the simple man's guide program.. it's $199 now and if you want Bill Vaughn to be your mentor it's $249... just wondering how was it and did you have Bill's coaching?? was the course, software, books good or worth to purchase??
I just bought it a few days ago, and I like it. It is a little bare bones by today's standards, in otherwords no flashy graphics or photos of gorgeous ladies pointing to piles of money.
The info seems like solid educational material. It is not advanced, but it is covering all the bases, and I will gain a lot from it.
I'm currently using the mentoring program and bill Vaughn is my mentor. I will keep everyone updated on my progress.
Originally posted by @Clary C. :
I'm currently using the mentoring program and bill Vaughn is my mentor. I will keep everyone updated on my progress.
How did the program go?
bill Vaughn is awesom, drills it down.
Does anyone have any updates on the course and the mentoring?
Just jumped on the vip package, its going for under $100 at the moment. Vip for the 1st month is only $1! have to give it a try. Im sure if you do what those who are accomplished have done you will reach your goals. Stick to it! I will give you guys my story soon. Could not download course through mobile phone, so i am waiting for disks or email access to content. Their current special locks you in with a mentor and contact with Bill when he is available.
To your success! See you at the top ;)
I realize this in an older thread, but hopefully the following information can assist someone who is considering purchasing Bill Vaughn's course.
Overview of the Course Materials:
I read through the Simple Man's Guide to Real Estate three times and also listened to the audio CDs multiple times. The course comes with several smaller bonus books that cover topics ranging from handling short sales to creative problem solving. Like most novices, I bought the book with the intent of learning primarily about wholesaling; however, the book only touched on the topic briefly. Nonetheless, this provided me with enough information to begin the process of thinking like an investor and learning the REI vernacular. Mr. Vaughn places an emphasis on unconventional and creative deal making (e.g., discounted mortgages, triple-net-lease agreements) and deviates from the typical approach most gurus pitch to new investors. The contract creation software is solid and well worth the price of the course. The purchase contract has enough weasel clauses to buy you 130 days until you're required to close a deal; of course, doing this will be very unfair to the seller.
Overview of the Mentoring:
I purchased the VIP membership with the course since it was only one dollar and received my 20-minute phone consultation with Mr. Vaughn a couple of days before I was to be charged $45 for the next month. I was on the fence about canceling the membership, but decided to keep it for another month after I spoke to him. He gave me some great advice, and I will go into detail about what we spoke about. I prepared some questions regarding wholesaling, and told him I planned on targeting vacant homeowners using direct mail. Surprisingly, he stated that direct mail was not a good marketing method and he found little success in his campaigns. He then stated that I should target homes listed on the MLS or FSBO homes and create motivated sellers by calling these homeowners and offering to purchase their property 80% below FMV. He then stated I should turn around and sell the homes to a family who is planning on living in the property, not an investor. What he said contradicted what I've been learning from the experienced investors on Bigger Pockets and my REIA. While I am not disregarding his suggestion due to his extensive REI experience and familiarization with the North Carolina market, I do believe Mr. Vaughn is a bit removed from updated practices in the REI world. I'm assuming he lives in a location where dilapidated blue-collar properties are not as abundant as they are in my area. Also, I did not ask him how I would actually motivate these sellers to sell at such a discount. However, I understand how purchasing a home that requires no repairs and has 20% or more in equity is advantageous to an investor or homeowner, which is why I am currently considering this approach. Lastly, he stated that he should have covered negotiating more in the book and indicated that 90% of his success is credited to his ability to effectively negotiate. He encouraged me to read every book I can find on the topic.
Mr. Vaughn's course is definitely worth the price; however, I cannot justify spending $45 on the VIP membership. If you happen to get him as your mentor, then I see no need for the monthly phone call. If I have a deal that needs evaluating, I can simply send the information to him via email and use the money I saved on other business expenses. Overall, it is a great place to start, and I will experiment with some of the techniques in the book later in my career. It is worth a read and priced reasonably considering the quality content you receive. Let me know if you have any specific questions regarding the course.
@Clary C. Just out of curiosity, does Bill have a mysterious middle-eastern accent and seem to be reading off of flash cards whenever you call? ;-)
No I didn't detect any accent when I spoke to him.
I'd be interested in more info on that MLS strategy? I'm always looking for out of the box strategies. Things no one else is trying. Warren Buffet said: buy what's hated, sell what's loved. If a room full of investors at your REIA are doing X you better think of doing Y.
@Curt Smith I totally agree about being creative, which is why I am going to focus our next call on the MLS strategy. He caught me off guard with this, and I didn't have any questions prepared. Unfortunately, I just don't see this strategy being effective in my area. Following the call, I realized I should have asked him how to locate the motivated sellers besides the MLS or the newspaper. I was thinking about going on Zillow and calling individuals who have had their homes listed for 60 days or more. Additionally, he suggested making friends with a local realtor who can negotiate on my behalf. I rebutted and asked him what realtor will agree to do this because they get paid based on hiking up the purchase price, not lowering it. He then instructed me to tell the realtor that you will provide him with repeat commissions instead of a seller who will provide him with only one. Bill said he's been working with the same realtor for over 40 years and the partnership is very lucrative. It just seems like no one else wants to be creative these days and only want to stick to proven methods. I fell like the more people on my team, the more I'd have to convince them to deviate from the norm and do something that is not guaranteed to be successful, which is more trouble than it's worth. Later in the conversation he asked me where I could find homes for 50-60 cents on the dollar, and I immediately thought of a lot of decent neighborhoods in Fayetteville, NC. He's from Maine so the market may be completely different than in the south, and I do believe he is disconnected from current REI practices. I will keep you informed following the next call. I am going to wait a few weeks so I can do some research and hopefully test this out.
It seems like a sound strategy, I've heard people in the podcast using it and finding a few homes. I also heard of a guy at my local REIA who had a policy of throwing offers at every single thing on the MLS, hoping to get even just a small % of them for like 28% FMV - and he has a multi-million dollar business now.
Any updates since then?
@Wesley Merville I apologize for the delayed response. I have not talked to Bill since then and will schedule my monthly call with him next week. I found out through Bigger Pockets that his method of MLS investing is called "wholetailing." From what I read, it sounds like more hassle than what it's worth if you don't have your liscence. Additionally, creative methods aren't really necessary when you have a lot of median-priced homes in your area. He's from Maine, and it may be more difficult to find typical wholesale deals there. I will definitely post my update next week!
Hello all! I'm back with an update. After conducting research on the "wholetailing" strategy, I decided it is not something my business partner and I will pursue. Additionally, Mr. Vaughn's guidance contradicted a lot of the solid advice given here on Bigger Pockets. The only book I would suggest reading is the Ultimate Beginner's Guide and then use the forums to fill in the gaps. Save your money, and invest those funds in your marketing campaign. With that being said, the $85 I spent for the program is worth it primarily due to the contract software included. However, I would not invest in the additional $45 per month for the VIP membership. I hope this thread helps anybody looking into his program!
@Cornelius Garland thank you for the update. I was considering this. But I can the money o postcards or something else.
@Cornelius, another Thank You for the update... I'm reading the Beginners Guide now, linked to this post... I've been looking at Vaughn's program, currently $79... I'm a 100% newbie... After reading your thoughts.. I will pass on Vaughn and stick with BP..
@Jamane Y. You're welcome. That is the route my business partner and I are taking!
@Rhonda Chamlee I'm glad I could assist you. I was inundated with information when I first started. Often, the first response is to spend more money and hope the answer will come. Bill Vaughn mentions a lot of niches in his book, and it would take several years to master each. I found that learning about real estate investing simplified once I focused on one niche (wholesaling) and took actionable steps daily to build my business. The key is knowing which questions to ask, and seeking specific answers to those questions through the forums. Everything you need to learn to close your first deal can be found on Bigger Pockets for free.
I am considering the Bill Vaughn program. So would you say that the programs are only geared towards certain neighborhoods even though the website says it works in any?
@Cornelius - Would you say that the Bill Vaughn program then is only good for certain neighborhood areas? Or is it possible to utilize the tools in any given area (low-income to high income for example)?
I used bills mentoring program for almost a year and in my personal opinion is was a waste of time and money. The knowledge was so-so and that wasn't the issue it was the crap you have to go thru to contact this guy. It's a weird kind of protocol where if you don't email him a certain way you get chastised. It's not bill per se (bill seems cool) but it's his assistant Who is not the most professional person to deal with and that's putting it nicely. Just look on ripoff report dot com and read some of the reviews. I've had more success networking with like minded individuals on this site than anywhere else. You should Save your money in my opinion.
Hey @Derrick Webb, I apologize for the delayed response to your question. No, the methods work in any market because people on Bigger Pockets use those same strategies he teaches all across the country. My main concern was that he dissuaded me from pursuing the niche I am currently focused on, which is wholesaling. Some of his methods are far too intricate to grasp as a novice and will require the assistance of a local mentor to help with structuring the deals. Additionally, the book does not mention Dodd Frank when discussing seller financing, which is a major issue because that law was passed on January 2014. His methodologies are antiquated and he has not updated the text to conform to today's market. I, personally, would recommend attending your local REIA or finding someone on BP to run your deals by. At some point, you will need a mentor or coach, but it is not necessary while you are still learning. Grow your business organically and don't be overwhelmed with trying to obtain everything at once. I went through this phase and I ended up writing down an actionable plan so I wouldn't get distracted chasing shiny objects or getting stuck in analysis paralysis. Don't be overwhelmed by all of the strategies in his book. It went way over my head the first 10 times I read it.
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