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Is any one working with Phil Grove? I listened to the webinar Sunday night he was introduced by Stacy Kellams.
Esmeralda Lira and I mentored with Phil Grove for 6 months last year. He has a good program and knows his business. As with all Guru's he shows you love if you put forth effort and bring in leads.
We tried over 8 short sales with his company with not 1 success. But he does explain that short sales have gotten harder and only 1 out of 10 succeeds.
We have experienced great success with the mortgage assignment program and whole selling deals.
Phil's program will give you the confidence you need to succeed. In this business confidence is key even if you have never done 1 deal. Say it like you believe it.
Originally posted by Cori Gerken:
Is any one working with Phil Grove? I listened to the webinar Sunday night he was introduced by Stacy Kellams.
Phill is a great guy and has a solid program. He is now the head of RENC in Austin, which is the best investment club in central Texas IMO.
Short sales are tough in central Texas because we don't have wild equity swings and the foreclosure process is rapid. Phill specializes in short sales in a location where short sales are tough...a great resource to have.
What I canâ€™t understand is as big as this forum is no one seems to be a successful student of his but yet in his presentation he has a bunch of victorious case study ones.
I just attended his boot camp this past weekend. I am reasonably impressed. He is "real people". Very open and honest.
I am looking forward to putting the techniques taught to practice very soon. I even have a deal that I am working on with some advice from him right now.
I'll let you know how it goes.
Are there any "seasoned" investors that have anything to say in this thread? I have seen some negative comments in other threads and sites, but I don't know this guy or his material, so I'm not passing judgment one way or another. But I do wonder when I see a thread about some guru type and then see several positive comments from folks that are basically new to BP, excluding Bryan.
Any update on the deal your working with Phil?
I joined biggerpockets just to reply to financeexaminer and George. I purchased Phill's program, and it is phenomenal. Very down-to-earth and detailed, with pros and cons of every RE investor tactic.
I chose to go in a different direction for now, and it has been very rewarding (commercial real estate financing). That said, the reason you aren't seeing Phill's successful students on this board is that they are all out there busting their tails and getting deals done. I see them at the monthly RENC meetings in Austin (I attend to network with the few commercial investors who attend). Some are HUGELY successful; others only 'mildly' successful. You get out of it what you put in. No one, out of the hundreds I've met, has one bad thing to say about Phill or his program. Phill and Shenoah are wonderful people and very generous with their knowledge and their time.
Hope this helps someone!
thanx much for the update, i was querious & you just satisfied it
Phill's program is likely one of the best you will find. I haven't been through it, but he is an ex-engineer and non guru, guru....the best kind.
He knows his stuff! We worked on some bulk REO stuff a few years back and nothing came of it, but he was certainly fun to work with.
I am new to BP here too and Michelle hit it right on the head. I don't see any of Phill's students on here except Karlos, yet I see them and talk to them all the time as we partner with each other on deals here in Austin.
I've never looked for a forum like this because I was too busy to get on the internet and I had a huge supply of local people to talk too (all of which I met because Phill Grove and Shenoah).
A topic I found on BP motivated me to sign up and since I've been here I've seen the value of the community.
SO on that, I'm another huge Phill Grove fan - he's the real deal and I;ve not met anyone yet who says otherwise.
One of the great things is that you can get information from seasoned investors from all over The States Dani. Different perspectives from areas other than Austin are often most useful.
It would still be nice to have someone post an actual deal completed by Larry's program.
This is directed at Dani or any of the other people from Austin that know Phil. It was stated in an article that Phil has done over a 1000 short sales. Considering the market for Short Sales has only been the last 2 or 3 years(2001-2006 all values were going up, bank didn't need to do SS), how can anyone say they have done 1000? And considering what Karlos said, he is only closing 1 out of 10,does that mean he has done 10K and closed 1K or done 1K and closed on a 100?
Hi Faitasi...Welcome to BP.
I can't vouch for whether or not Phill has done 1000 short sales. What I can tell you is that I have been to his multi-million dollar house that he purchased on a short sale and that he made his money prior to marketing real estate programs. I can also tell you that he knows his stuff cold. If you ask any member of the RENC community in Austin about him I think you would be hard-pressed to find someone that doesn't respect him.
Phill has a huge following in Austin and my suspicion is that he does a lot of deals by partnering with students that lack the capitalization to fund short sales. It wouldn't be too hard to fund 20 deals per month if you get to see hundreds at a time from people turning over rocks for you.
Short sales haven't only existed recently. They have existed in other points in time too because banks are complete idiots that no longer no how to lend money properly.
If you PM me I would be happy to give you Phill's personal cell number. If you call him I am sure he would be happy to clear up any uncertainty you have about the validity of his claims.
I appreciate the response. I understand SS have been around for a long time. My ex roommate had to do one in the 90s on his condo out here in So Cal. Foreclosures were more profitable than SS from 2001-2006, because there were people overpaying for properties at the Trustee Sales, so the Banks knew they would get their money back.
I am always leary when I hear claims of "1000 SS, REO, Subject To, etc...". I have heard all the claims and have spent way to much money on programs and people that didn't live up to them.
Again, appreciate the response and hope to contribute to the discussions.
Actually, Phill started doing short sales in 2003, before most people even knew what short sales were. Yes, in the hot bubble markets (CA, NV, AZ, FL) prices were going up so fast that shorts were less common, however, in the other 46 states, shorts became common because so many people got sub-prime zero-down, or took all of the equity out of their homes with home-equity loans and then needed to sell, but had no equity leftâ€¦. Because Phill was so early into this strategy, he got investors from all over the place to send him their â€œno equityâ€� leads, and he turned that into a killer business. I wish I had thought of that at that time!
Furthermore, I have seen Phill talk about how many shorts he has done in his presentations. He has something he calls â€œthe truth aboutâ€� presentation where he tells you the other side of the story for each of the top-12 investing strategies. The stuff gurus never disclose. When he talks about short sales he freely admits â€œI made over $3M on my first 1000 short sales. .wanna know the whole truth?â€¦I made $3M on about 100 short sales and next to nothing on 900 others!â€� In other words, he tells people that only about 10% can be flipped. Itâ€™s a numbers game. The others can often still be sold, but not necessarily for enough to make any money beyond the Realtor commissions. Still others get all the way though the process, and then get denied by the lender. Most gurus talk about all the deals that make money, but never tell you about the deals that donâ€™t make money, and the down side to different strategies.
This was all a couple of years ago. I know he has since this done many more short sales, but I donâ€™t where all the number are now. I can tell you that what Phill is getting into now is something he calls Mortgage Assignment. It addresses exactly what is going on in the trenches right now. I strongly suspect this will be what everyone will be talking about in another 3-5 years. Phill looks to be, once again, way ahead of the curve.
Eh...Phill is certainly a smart guy, but mortgage assignments or WHOFs have been around for a long time. I also feel like they carry a lot of risks that short sales don't carry.
To each his own...Phill is not your run-of-the-mill charlatan guru crackhead though. He knows his stuff and those that take shots at him likely have never met him. I'm not saying that anyone on this thread is doing that BTW.
Happy investing all....
Dani - Do you work for Phil or are you just an affiliate? (I saw that you're promoting his courses on your website)
I am actually Phill's very first and probably only affiliate. I took his RE-Volution course back in April and became a mentor student. My team and I had huge success with Mortgage Assignments in particular so Phill asked me if I would help him reach out to other Realtors since I was out there actually doing it. I of course said yes. I don't mind showing off anything that truly works, especially if I have experienced it first hand.
I have never been an affiliate before so I created some marketing stuff to put on the internet to show my experiences and case studies of deals I've done.
I don't do any other affiliate stuff for anyone else, I'm more into doing my own deals and writing my own courses/books. However, I don't mind sharing my experiences and the reason behind my success which is all a result of hard work, but ultimately Phill's guidance.
I appreciate the response and information. With the explanation of 1000 and making money on 300 sounds reasonable. There are so many so called guru's out there, and a new one popping up every day it seems like, it is hard to distinguish between someone who is actually doing it and those who aren't.
Newbie to forum, I mean in the lst few minutes...I have one complaint concerning Phil...that is that I am not doing what he tells me to. Several months have gone by, listened and learned from the bi-weekly calls, and embarased to say that I have not even finished his whole series of DVD's. This forum has soanked me into submission. TNX
Gentle Ben - New Orleans
...that was "Spanked me" into submission.
And, the only reason I did not subscribe to his newest, Mortgage Assignment course is that it would be just one more course that I don't seem to finish.
I did however make one smart move tht Phil suggests over and over; I have joined the local REIA, and that, too, is motivating me to finish the Premium course, learn how to use the deal anaylizer [shame on me some more] and get out and MARKET myself.
Thanks for listening,
Gentle Ben-New Orleans
I thought I bring this topic back to the top of the forum by asking if there are any success stories from anyone who's attended or taken Phil's program since this last post (which was posted 3 years ago..)
I just went to his workshop here in LA this past weekend and I'm debating on signing up with the AMPS program. Any info is much appreciated!
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