stacy Kellams meter drop method

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stacy Kellams meter drop method

Justin Davis
Member since 2011 · 4 posts · 1 vote

Hello,

I was wondering if anyone has any thoughts of the meter drop method by Stacy Kellams. It looks interesting, wanted to check it out here first.

Thanks!

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Steve Babiak
Real Estate Investor · Audubon, PA · Member since 2009 · 13k+ posts · 8k+ votes
14y

Here's how it usually goes. Homeowner/borrower gets into financial trouble of some sort and misses mortgage/loan payments. Lender starts foreclosure proceedings. Homeowner/borrower does not want to leave (or lose) the house, so after exhausting alternatives (sometimes not even trying alternatives) they file for bankruptcy. Those that want to stay won't be responsive to the bankruptcy marketing - it is going to mean selling, and they aren't (yet) interested in that.

Ones who have struggled in bankruptcy - trying to make payments on the amounts due to the bankruptcy trustee and trying to stay current on other payments - those eventually become more motivated, after they have tired of the struggle.

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  • Bill Gulley
    Investor, Entrepreneur, Educator · Springfield, MO · Member since 2009 · 21k+ posts · 12k+ votes
    14y

    Never heard of it, any links, any information on what this is about?

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  • Justin Davis
    OP
    Member since 2011 · 4 posts · 1 vote
    14y

    Ya http://www.meterdrop.com/exitpop1.html here is one I found. The program is about finding leads for properties and then selling them to investors.

    Thanks for your reply!

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  • Keith Lutz
    Real Estate Agent · Hackettstown, NJ · Member since 2011 · 206 posts · 62 votes
    14y

    Looks like an Internet marketer to me! try and leave the page and get a $30 discount... woo-hoo!

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  • Lokesh W.
    Property Manager · Milwaukee, WI · Member since 2011 · 185 posts · 16 votes
    14y
    Originally posted by Keith Lutz:
    Looks like an Internet marketer to me! try and leave the page and get a $30 discount... woo-hoo!

    Lately, every real estate course is like that. I you try to leave the sales page a couple of times, you will see the deeper discount...

    Has anyone tried the system? If there are motivated seller leads, then they are great!

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  • Account Closed
    Involved In Real Estate · Paramus, NJ · Member since 2009 · 95 posts · 40 votes
    14y

    I bought it and I am trying it out. Instead of selling leads to others I plan to use them myself since I am a realtor & beginning investor. Without giving it away, i will say it has to do with searching for bankruptcy filings and identifying the homeowners. It's another source of leads. The program does give you some marketing templates but I just use my own yellow letter. It also has a section on how to get lead buyers. Your mileage may vary.

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  • Steve Babiak
    Real Estate Investor · Audubon, PA · Member since 2009 · 13k+ posts · 8k+ votes
    14y

    Since you say it involves identifying bankruptcy filings, and that is already a known approach, so nothing novel with that part of it. Most of the bankruptcy filings that involve homeowners also are going to show a foreclosure filing (that's not news either).

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  • Lokesh W.
    Property Manager · Milwaukee, WI · Member since 2011 · 185 posts · 16 votes
    14y
    Originally posted by Lily Chen:
    I bought it and I am trying it out. Instead of selling leads to others I plan to use them myself since I am a realtor & beginning investor. Without giving it away, i will say it has to do with searching for bankruptcy filings and identifying the homeowners. It's another source of leads. The program does give you some marketing templates but I just use my own yellow letter. It also has a section on how to get lead buyers. Your mileage may vary.

    Thanks for the info. In that bankrupcty website, a good number of them are renters.

    Before when I was doing short sales, I used to get bankruptcy homeowner leads and I have sent postcards. Not much luck with that. A couple of homeowners called back to enquire about how I can purchase their property but that never converted into a deal i.e. the homeowner was NOT interested. Do you feel Stacy Kellams' marketing method to bankrupcty homeowners is something unique that has better chance of acceptance??? Currently, I am looking into doing lease options (selling properties on rent to own basis) and I need some more motivated seller leads.

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  • Steve Babiak
    Real Estate Investor · Audubon, PA · Member since 2009 · 13k+ posts · 8k+ votes
    14y

    Here's how it usually goes. Homeowner/borrower gets into financial trouble of some sort and misses mortgage/loan payments. Lender starts foreclosure proceedings. Homeowner/borrower does not want to leave (or lose) the house, so after exhausting alternatives (sometimes not even trying alternatives) they file for bankruptcy. Those that want to stay won't be responsive to the bankruptcy marketing - it is going to mean selling, and they aren't (yet) interested in that.

    Ones who have struggled in bankruptcy - trying to make payments on the amounts due to the bankruptcy trustee and trying to stay current on other payments - those eventually become more motivated, after they have tired of the struggle.

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  • Joel OwensBusiness Member
    Moderator
    Real Estate Broker · Canton, GA · Member since 2010 · 15k+ posts · 11k+ votes
    14y

    Yep Steve pretty much nailed it.After the consumer files a BK they have now bought months and months of time even if the plan isn't confirmed.

    They breathe a sign of relief and could care less about you the investor.

    Where the money lies is to keep tracking them on the Fed BK site and look for a motion to dismiss the case or a relief from stay filing on the house.

    You can get to them early this way as it takes a few weeks to a month to process out the request,the file to come out of the bank BK department,and foreclosure proceedings to start again.

    I do not know this person hucking a system but it is usually the same knowledge recast with a fancy name to believe it is different.

    Podcast Guest on Show #47
    NNN Invest53 Reviews
    WebsiteView Page
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  • Justin Davis
    OP
    Member since 2011 · 4 posts · 1 vote
    14y

    do you think I should move forward with this or leave it alone?

    thanks for all your input....

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  • Steve Babiak
    Real Estate Investor · Audubon, PA · Member since 2009 · 13k+ posts · 8k+ votes
    14y

    My take on Stacy Kellams. He claims his spouse is an attorney - this could be true, doesn't much matter to me. The past few courses of his own that he promotes (he promotes TONS of affiliate programs, that is always a red flag IMO), are basically re-hash of courses that an attorney out of the Philadelphia area had already done, with the claim that his spouse assisted in authoring these in some cases. The concepts can be made to work, so the question becomes is the purchase of old ideas pretending to be new ideas really worth paying for, or can you discover those same ideas on your own with some diligent reading (like here on BP)?

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  • Glenn Bravy
    Issaquah, WA · Member since 2012 · 9 posts · 1 vote
    14y

    A few points here.

    First of all, the cab driver may or may not exist, but the point of it all was to tell a story. If he pitches you, you can say no. But if he tells a story and you like the story, you just got the whole sales pitch without ever having a chance to say no.

    Second, especially after hearing from Lily, do you really think this is new info? Stacy never heard about it? And his attorney never did either? Really??? Sounds like hype more than education.

    Third, as alluded to by others, he started as an investor and now he's an internet marketer. He has lists, marketing know how, and friends. They all help each other sell various programs.

    And here's the kicker!!! Is anyone from Austin, TX? That's where I started investing in real estate. There's a local guru (who actually does deals day in-day out) named Phill Grove. He and his wife Shenoah have been in RE for years and are very successful. His angle is that he puts on very good, solid RE courses for not much money. More than the money, he educates people on how to find and structure deals. They need money. Phill is an expert with money. He's getting highly trained bird dogs and building a strong local community of investors.

    It gets better. If you're familiar with his Mortgage Assignment (MAPS) program, you'll see that for the program to work best, it calls for a heavy amount of buyers and sellers being input from various investors in the area. To match those buyers and sellers he built the REI matcher program. His initial thought was to take a portion of every deal that was done. After a while, he changed it to a monthly charge.

    IT'S NOT ABOUT THE METER DROP METHOD! That's the gimme product that's super cheap, but it's about getting people enrolled into the $97/month REI Matcher. It's a fantastic service if you use it. The two even work well together. But the goal from the beginning, as far as I see it, is to enroll people into the REI Matcher and make it lucrative for them to do so.

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  • Glenn Bravy
    Issaquah, WA · Member since 2012 · 9 posts · 1 vote
    14y

    August 2011 talking about the Meter Drop. http://www.blackhatteam.com/f108/req-meter-drop-method-79355.html

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  • Steve Babiak
    Real Estate Investor · Audubon, PA · Member since 2009 · 13k+ posts · 8k+ votes
    14y

    Thanks Glenn.

    So it was Wade Cook who originally coined the phrase that is in this topic's title:
    http://community.seattletimes.nwsource.com/archive/?date=19981115&slug=2783518

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  • Glenn Bravy
    Issaquah, WA · Member since 2012 · 9 posts · 1 vote
    14y

    Steve: Yes, Wade Cook coined the term but he meant it very differently applied to investments.

    He used the meter drop to buy and sell stocks to make 10% or so at a clip. "Singles and doubles in the stock market" as he said. He started in real estate and bought, rehabbed, and flipped. Never talked about selling leads.

    With the Meter Drop Method program, it's about selling leads. Same taxi meter drop, different real estate meter drop.

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  • Account Closed
    Involved In Real Estate · Paramus, NJ · Member since 2009 · 95 posts · 40 votes
    14y

    Well I tried it - I downloaded the list from the BK site, which cost me about $3.70, pulled the list into Excel, picked one county and went through the names comparing them to tax records which I have access to as a Realtor, and pulled MLS data to verify the properties were not listed - don't want any complaints from other realtors - and personally wrote 23 yellow letters and dropped them in the mail Saturday. Got a call on Monday who did not leave message, but after checking caller ID it was one of the recipients I mailed to. Called back 3 times over the week and did not receive a response. It's not as "easy" as the program makes out, as it entails hours of me sitting on the computer and checking tax records. I do plan on using the leads myself and not reselling, because to me if a lead is good why give it away? If it's no good then you're going to make your lead buyer mad. Obviously I am going to follow up with additional mailings and possibly do a drive-by on some of these properties. Yes there are tenants on the list but that's why checking against tax records is necessary. For tenants who are in BK it'd be perfect to mail to the landlords asking if they want to sell! LOL. I find that a lot of times the name belong to a relative of the owners (spouse, child, siblings), and lots of these houses are not listed or have equity. So it's possible to do a separate mailing to the owners who may need to sell to bail out their relatives. The cost of leads is low enough that I see it being another good source. It may be they are not ready to sell now, but sooner or later that will change.

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  • Account Closed
    Real Estate Investor · Cheyenne, WY · Member since 2012 · 64 posts · 19 votes
    13y

    Just a note on his "cheerful" return policy might not be what it is.
    http://www.ripoffreport.com/directory/Stacy-Kellams.aspx

    Now if it's true or not, I'm not sure.

    It did catch my eye too, I would love to know if it's really worth the $100?

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  • Jared DeValk
    Involved In Real Estate · Nashville, TN · Member since 2012 · 75 posts · 14 votes
    13y

    Website his uses for the BK filings:

    http://www.pacer.gov

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  • Linda Rothenberger
    Real Estate Investor · Las Vegas, Los Angeles · Member since 2010 · 3 posts · 0 votes
    13y

    Hi -- I just got an email about Stacy Kellams' Meter Drop Method, and so I thought it was something new. When I checked to see if anyone had bought it and had comments, I found this page, and many of YOUR posts go back to July 2012, and I'm writing this May 19, 2013. WOW .... well, at least I found out. Guess it's not so new. Thank you all for posting.

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  • Bill Walston
    Real Estate Investor · Northeast TN, TN · Member since 2008 · 516 posts · 361 votes
    13y
    Originally posted by Linda Rothenberger:
    Hi -- I just got an email about Stacy Kellams' Meter Drop Method, and so I thought it was something new. When I checked to see if anyone had bought it and had comments, I found this page, and many of YOUR posts go back to July 2012, and I'm writing this May 19, 2013. WOW .... well, at least I found out. Guess it's not so new. Thank you all for posting.

    I find it difficult to believe that there are very many "new" strategies for investing in real estate. The strategy may be new to you only because you've not heard of it until now. Or it may seem new because someone has taken a strategy that's been around since Noah and given it a new name (like AMPS/MAPS).

    The fact that a "strategy" is still around may just mean that it works - the strategy, that is, not the course. :)

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