TCS Foreclosure (REO's)

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TCS Foreclosure (REO's)

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Member since 2008 · 3 posts · 0 votes

Hello everyone,
I'm very new to the real estate biz. I have been very intrested in it and have been studying it myself for some time. I came across a company named "TCS Foreclosure" out of Ca. and they want me to invest 5K for the there package of books and CD's and phone classes to learn about getting REO's at a discounted rate. It sounds to me like bird dogging for them. They say I have full access to there submissions depart and all of there investors to post the properties I find. I will make the commission on the contract sells.

I was wondering if this "TCS Foreclusore" company is the real deal or is it a scam. I googled the company and "Patrick Grom" there personnal coach and I found a lot of mixed comments on the company and Patrick. Some good some bad. One thing I found that I did not like was I found a Pyramid Scam linked to this Patrick Grom. One of those deals with five people on a list mail it out move them all up one Yda, Yda Yda.

Will Ibe wasting my money with TCS Forclosures or will it pay off? Any one else have dealings with TCS?

I'm not looking for a get rich quick program. Or a late night TV add on real estate.

Thanks,

Looking forward to your comments.

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  • Michael Rossi
    Real Estate Investor · OH · Member since 2008 · 4k+ posts · 1k+ votes
    18y

    If you found a pyramid scam linke to this person or company, what does that tell you? HELLO!

    You certainly don't need to spend $5K to learn to be a birddog (or anything else for that matter). If you want to be a birddog or wholesaler, pickup a book or two on the subject. Then, join your local REIA (Real Estate Investor's Association) and make friends with the SUCCESSFUL investors in your area. Being successful in any facet of real estate takes a lot of work. It will be even harder if you let people scam you out of your money!

    Good Luck,

    Mike

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  • N/A N/A
    OP
    Member since 2008 · 3 posts · 0 votes
    18y

    [list=]

    Thanks for the advice.I was thinking the same thing about Patrick Grom and TCS. I am wondering what other people had to say about TCS Foreclosure.

    This is a great site glad I found it.[/list]

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  • Account Closed
    Real Estate Investor · Fort Wayne, IN · Member since 2008 · 424 posts · 5 votes
    18y

    Anybody asking that much money for a program is ridiculous. Listen to what Mike says. Listen to the SUCCESSFUL investors. You'll know who they are. They won't be the ones asking for money.

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  • Account Closed
    Real Estate Investor · London · Member since 2008 · 3k+ posts · 74 votes
    18y

    Time to move on. Do not waste any more time checking them out. You can go to Amazon and buy all the books you are likely to need. Plus you can just read here at BP as there are many that can provide useful advice.

    John Corey

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  • N/A N/A
    OP
    Member since 2008 · 3 posts · 0 votes
    18y

    Thanks guys for all of your advice. I was thinking the same thing about TCS Foreclosures as a company. I will keep reading and studying this site. You guys all are great and very helpful.

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  • Lee J.
    Homeowner · Temescal Valley, CA · Member since 2008 · 1 post · 0 votes
    18y
    Originally posted by boats60901:
    Thanks guys for all of your advice. I was thinking the same thing about TCS Foreclosures as a company. I will keep reading and studying this site. You guys all are great and very helpful.


    My wife is a client of TCS Foreclosures. So I know of them. You won't get TCS clients to give you much feedback because this is the age of the Internet.Very competitive. Anyone who gives you a positive review of the company is inviting competition. Clients of TCS realize there is no benefit to more competition. The company delivers on their promises. Many people on the Web who look as though they have investor networks and other related services, are clients of TCS. You need to understand you are asking for a reference from people who know if you join the TCS network you may be competing with them. You should check with government agencies to investigate the company. Like the Attorney General etc. TCS is just a company who fills a void in the real estate market, nothing more. But you should know, the short sale market is time consuming, not get rich quick. Good luck.
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  • Corry Taie
    Menifee, CA · Member since 2008 · 194 posts · 46 votes
    18y

    Being a client of TCS I can tell you that Lee J. is correct with the issue of competition & also the fact that TCS delivers on their promises. Their network is very specific on the properties they will invest in. Short sales are very time consuming & a numbers game. Just do your homework. I know the TCS team personally & I do business with them. $ 5K is quite a bite, but if you do exactly as they teach you, it does work. I would also suggest that you creat your own buyers list too. Dont put all your eggs in 1 basket. They do have a strong investor network though.

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  • Jeff TumbarelloPro Member
    Real Estate Broker · Fort Myers, FL · Member since 2008 · 1k+ posts · 323 votes
    18y

    please share some details

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  • Ryan Varela
    Huntington Beach, CA · Member since 2008 · 6 posts · 1 vote
    17y

    Just so you know. Its called Multi-Level-Marketing. Which most people automatically think Pyramid Scam even though alot of them are not. I would say your job where you work is more likely a pyramid since you can probably never make more then your boss unless your in sales. So If Kevin Grom was involved in a multi-level Marketing business I wouldnt let that turn me off. There are plenty of avenues to make money. If you dont like multi level marketing then dont do it.

    I don't see why people say it's alot of money for TCS's services. Yes you can do the leg work yourself and learn how to find pre-foreclosures and put the property under contract to do a shortsales. And yes you can try and find your own investors that you hope would be RELIABLE when the time comes down to close the deal. But these people here make it sound like it's so easy to find investors to trust you with their money. It sounds like TCS just packages everything for you. Which is a good thing. I would imagine your time is valuable so you can take 1-2 years of a learning curve or get started with them and close deals your first year. It doesnt sound like a scam to me. They even have a BB rating on the better business bureau. They have responded to all of their complaints. The owner states serveral times that every customer gets to interact with each other in conference calls so I agree with him. I doubt if they were scamming people they would put them all together in one room.

    Bottom line dont take advice from these people. Just do the research yourself and make an educated guess. Im sure you can find tons of garbage about IBM or Microsoft on the internet but bottom line is they are successfull too.

    In regards to spending 5k to learn to being a bird dog. Thats sucha a pessimistic view. If your earning 10-30 k a deal thats a pretty nice income for being a birddog. Especially if you close multiple deals, as most people dont make 6 figures. If You think BIG about it. After being a "bird dog" for a few deals then you can use the money you make to be an investor in their network and just have their other researchers find the properties for you. either way sounds like a win win to me.
    Just my 2 cents


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  • Jon Holdman
    Rental Property Investor · Mercer Island, WA · Member since 2008 · 22k+ posts · 14k+ votes
    17y

    So, Ryan, what's your relationship with TCS foreclosures?

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  • Ryan Varela
    Huntington Beach, CA · Member since 2008 · 6 posts · 1 vote
    17y

    Hi Jon, They tried to sell me their service. I don't know many other services out there that teach you how to do shortsales and that connect the investor to the researcher which is why i think tcs does offer a good service. The only thing i wonder now is if their network of investors are still eager to buy with the way homes prices have been dropping. can they still buy a shortsale and flip it in time? But homes sales across the nation have gone up significantly and the stock market went up 900 points yesterday. So maybe now is a good time again. especially with the amount of foreclosures happening

    0Reply
  • Adam Walsworth
    Member since 2009 · 2 posts · 1 vote
    17y

    I was approached to invest and decided to do research not only on public forums but in criminal records. The CEO has been twice convicted of DUI and was arrested in January 2009 for 3rd DUI. He was also convicted of hit and run at time of his 2nd arrest.

    The records are all here.

    http://www.occourts.org/online-services/case-access/

    Search under criminal cases for CEO Andrew Wardein

    How am I sure this is the same Andrew Wardein? Look at the bail info. His partner Kevin Grom bailed him out.

    One last thing. I have not invested in the product which this company provides so I can't say if the product is good or bad. I just think people should do all of their homework before investing thousands of dollars. I personally would not invest in a company run by a man that can't even drive his own car because of his irresponsibility to follow the law.

    This company is required to give a samp disclosure to buyers 48 hours prior to paying a dime. It would be interesting to hear from anyone if Andrews criminal activities have been disclosed in the SAMP as required.

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  • Jon Knisely
    Real Estate Investor · Warsaw, IN · Member since 2009 · 1 post · 0 votes
    17y

    Hey guys. I know this is kind of an old topic, but I stubbled upon it. I have been a client and affiliate of TCS Foreclosures for about two years now. The 5K they asked you to invest is a lot of money. If you put in 5k they are pretty sure you will follow through with the trainin (they don't like to waste time).
    TCS and Patrick Grom have always treated me like I was their number one client. I have never experienced better customer service. Every thing I know about Real Estate is due to the training from TCS.
    Being a part of their company has brought me huge opprotunities, no just in short sales. I am now affiliated with some of the best legal minds is the country.

    Trust me!!!! If TCS charged ten times that amount, it would still be worth it. With TCS failure is not an option.

    Hope it helps.

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