How to find a gator lender to fund my EMD?
Member since 2022 · 33 posts · 5 votes
How to find a gator lender to fund my EMD?
Most Popular Reply
Investor · VA · Member since 2015 · 21k+ posts · 19k+ votes
3y@Don Konipol
But I paid $3000 from a guru to tell me it was ok to do this…
7e investments53 Reviews
45 Replies
- Title Representative · Irvine, CA · Member since 2017 · 874 posts · 519 votes3y
Join Pace Morby's free community on FB groups, I think it's "Creative Financing with Pace Morby". Tons of gators in that community.
- Investor · Tampa, FL · Member since 2019 · 1k+ posts · 1k+ votes3y
To add to the previous posts you could also partner with someone that has some cash for the first few deals
- 3yDon KonipolBusiness MemberInvestor · The Woodlands TX / Avon, CT · Member since 2009 · 6k+ posts · 10k+ votes
Quote from @Karl Washington:
Has anyone had experience with this? Where did you find your gator lender?
After 40 years in real estate I can tell you this; the number of lawsuits that are going to result from this lending of earnest money is going to be astronomical. Spelled “FRAUD and MORTGAGE FRAUD.
- Investor · VA · Member since 2015 · 21k+ posts · 19k+ votes3y
@Don Konipol
But I paid $3000 from a guru to tell me it was ok to do this…
7e investments53 Reviews - 3yJay HinrichsBusiness MemberReal Estate Consultant · Summerlin, NV · Member since 2014 · 45k+ posts · 66k+ votes
Quote from @Chris Seveney:
@Don Konipol
But I paid $3000 from a guru to tell me it was ok to do this…
No kidding I am surprised BP is so gung ho with this guy.. - Member since 2022 · 33 posts · 5 votes3y
Quote from @David Ramirez:
To add to the previous posts you could also partner with someone that has some cash for the first few deals
Awesome didn’t consider this
- Investor · VA · Member since 2015 · 21k+ posts · 19k+ votes3y
@Jay Hinrichs
They also were writing a book with onofrio
It’s like anything - those who brag the most and market the most get the attention.
I don’t know anything about him except someone did a video where he lost like $1M investing in a Ponzi scheme. Hope his course isn’t on due diligence
7e investments53 Reviews - 3yDon KonipolBusiness MemberInvestor · The Woodlands TX / Avon, CT · Member since 2009 · 6k+ posts · 10k+ votes
Quote from @Chris Seveney:
@Jay Hinrichs
They also were writing a book with onofrio
It’s like anything - those who brag the most and market the most get the attention.
I don’t know anything about him except someone did a video where he lost like $1M investing in a Ponzi scheme. Hope his course isn’t on due diligence
@Jay Hinrichs and @Chris Seveney
You guys probably know this, but for the less knowledgeable and less experienced
When you see a POLISHED presentation for seminars, mentorships, courses, etc., its almost certain that it was produced by one of a very few marketing companies located in either Las Vegas, Nevada or Provo, Utah. While there are a few of these programs built around people who are (1) successful in the program they’re offering (2) providing a legitimate, ethical way to earn money and (3) honest about the effort, knowledge and experience a customer will need to have a chance at success, the vast majority mislead, lie, or omit one, two or all of the above.
In other words these marketing companies do not care whether or not the person engaging their services is legit, experienced, successful or a career criminal. If someone has the money, they will create the entire program, down to seminar scripts, levels of selling, advertising, promotion, recruitment of employees, and every other aspect. The “guru” merely follows the script.
If you’d like proof of how shady this industry is, don’t “google” a currently popular guru - chances are he or she hasn’t been popular long enough to garner negatives. Look at past gurus who at one time were the “it” real estate guru ; you’ll find numerous governmental lawsuits by the FTC, IRS, U.S. Attorney, local district attorneys; you’ll find numerous private lawsuits by consumers defrauded; you’ll find cease and desist orders; fraud judgements, and often criminal complaints.
I will provide you with a personal experience. In the 1980s and 1990s I got to know John Beck, a California investor who had success with probable sales, tax lien judgement sales, and other distress situations, as well as “real estate exchanging” utilizing “junk” lots as some of the “trade”. John also taught courses on these topics, and self produced some amateur looking material. If you were able to read through the non quality type and grammatical errors of his books, there was a lot of great insight and information mostly specific to California.Around the early 2000s John decided that he wanted to become very rich, such as he thought he saw other gurus doing (Robert Allen, Al Lowery, etc.). He hooked up with an early version of these marketing companies and they produced a packaged “program” for him. He then became a staple of the late night “infomercial”, at one point as frequently appearing as Carlton Sheets. Unfortunately, John not only over promised, but misled, lied, and failed to deliver even the minimum of what he sold. The Federal Trade Commission sued him, and John lost a $113,000,000 ($113 million) judgement. John was last seen leaving the Federal courtroom after the verdict, and has not been seen since! Another person who knew John better than I did told me that John had been studying asset protection from the time he was sued by the FTC, and that a number of John’s friends believe he’s living on the beach in a country with no extradition treaty with the United States.
So here’s my bottom line. There is NO shortcut to becoming successful in real estate. Jay Hinrichs, Chris Seveney and myself did not sign up for a guru mentoring program one day, and with no background, knowledge or experience in real estate start doing unbelievably profitable deals based only on the knowledge gained by signing up with the guru. It takes years of experience, years of learning, trial by fire, missteps, and STAYING POWER. Just like building an airplane, performing brain surgery, or any other profession. You need to start with a basic course(s) in real estate principles, real estate theory and real estate law. If you don’t know the basics, knowing a “program tool” will not be a sustainable way to success. Even if in the remote possibility you were to be able to do some successful transactions, as soon as the market winds changed you’d be back to square one; having lost everything you made because you were unable to recognize and didn’t have the knowledge to adjust to changing economic conditions.
I’m convinced that the vast majority of people who buy these offerings think they will be short cutting the learning process. This is the most dangerous misconception. Even if what the guru teaches isn’t junk (it usually is), the person without the core foundation does not have the ability to use this information profitably.
- 3yJay HinrichsBusiness MemberReal Estate Consultant · Summerlin, NV · Member since 2014 · 45k+ posts · 66k+ votes
Quote from @Don Konipol:
Quote from @Chris Seveney:
@Jay Hinrichs
They also were writing a book with onofrio
It’s like anything - those who brag the most and market the most get the attention.
I don’t know anything about him except someone did a video where he lost like $1M investing in a Ponzi scheme. Hope his course isn’t on due diligence
@Jay Hinrichs and @Chris Seveney
You guys probably know this, but for the less knowledgeable and less experienced
When you see a POLISHED presentation for seminars, mentorships, courses, etc., its almost certain that it was produced by one of a very few marketing companies located in either Las Vegas, Nevada or Provo, Utah. While there are a few of these programs built around people who are (1) successful in the program they’re offering (2) providing a legitimate, ethical way to earn money and (3) honest about the effort, knowledge and experience a customer will need to have a chance at success, the vast majority mislead, lie, or omit one, two or all of the above.
In other words these marketing companies do not care whether or not the person engaging their services is legit, experienced, successful or a career criminal. If someone has the money, they will create the entire program, down to seminar scripts, levels of selling, advertising, promotion, recruitment of employees, and every other aspect. The “guru” merely follows the script.
If you’d like proof of how shady this industry is, don’t “google” a currently popular guru - chances are he or she hasn’t been popular long enough to garner negatives. Look at past gurus who at one time were the “it” real estate guru ; you’ll find numerous governmental lawsuits by the FTC, IRS, U.S. Attorney, local district attorneys; you’ll find numerous private lawsuits by consumers defrauded; you’ll find cease and desist orders; fraud judgements, and often criminal complaints.
I will provide you with a personal experience. In the 1980s and 1990s I got to know John Beck, a California investor who had success with probable sales, tax lien judgement sales, and other distress situations, as well as “real estate exchanging” utilizing “junk” lots as some of the “trade”. John also taught courses on these topics, and self produced some amateur looking material. If you were able to read through the non quality type and grammatical errors of his books, there was a lot of great insight and information mostly specific to California.Around the early 2000s John decided that he wanted to become very rich, such as he thought he saw other gurus doing (Robert Allen, Al Lowery, etc.). He hooked up with an early version of these marketing companies and they produced a packaged “program” for him. He then became a staple of the late night “infomercial”, at one point as frequently appearing as Carlton Sheets. Unfortunately, John not only over promised, but misled, lied, and failed to deliver even the minimum of what he sold. The Federal Trade Commission sued him, and John lost a $113,000,000 ($113 million) judgement. John was last seen leaving the Federal courtroom after the verdict, and has not been seen since! Another person who knew John better than I did told me that John had been studying asset protection from the time he was sued by the FTC, and that a number of John’s friends believe he’s living on the beach in a country with no extradition treaty with the United States.
So here’s my bottom line. There is NO shortcut to becoming successful in real estate. Jay Hinrichs, Chris Seveney and myself did not sign up for a guru mentoring program one day, and with no background, knowledge or experience in real estate start doing unbelievably profitable deals based only on the knowledge gained by signing up with the guru. It takes years of experience, years of learning, trial by fire, missteps, and STAYING POWER. Just like building an airplane, performing brain surgery, or any other profession. You need to start with a basic course(s) in real estate principles, real estate theory and real estate law. If you don’t know the basics, knowing a “program tool” will not be a sustainable way to success. Even if in the remote possibility you were to be able to do some successful transactions, as soon as the market winds changed you’d be back to square one; having lost everything you made because you were unable to recognize and didn’t have the knowledge to adjust to changing economic conditions.
I’m convinced that the vast majority of people who buy these offerings think they will be short cutting the learning process. This is the most dangerous misconception. Even if what the guru teaches isn’t junk (it usually is), the person without the core foundation does not have the ability to use this information profitably.
people just need to google Nudge or Zurix for current Guru fulfillment companies about 7 to 8 years ago I did a quick trip through Provo and talked to a few in person including Nudge ( was at their offices). These are as Don states the fulfillment companies for virtually every national speaker guru from Tony Robins Dolf ( what ever his name is :) ) to the folks in the real estate training space.
this is a HUGE money business. The Guys at Nudge/Zurix had mansions in Cabo and 20 million dollar jet to get there. The Real estate space is the one that gets in trouble because of the claims and money lost by students who believe that being part of the tribe will bring them richs and they can quit their day job.. Much of this comes from MLM marketing set ups..
If you remember Dave Del Dotto he made a fortune with his late night TV and his shows were from Honolulu etc.. He became a very successful Vintner in Napa Valley and that is a very expensive club to join.. One of his Wineries was across the street from my home I would take visiting friends over for wine tasting and if he was there we would talk RE.. Rich Dad is or was based out of Fort Meyers.
Not all training is poor or bad its the method to hook the students and get them to run up their credit cards I dont like.. If someone has the cash and its not going to saddle them in debt and its basically how to buy fix and flip houses I dont personally have a problem with that.. its the wholesaling and now it appears becoming a lender .. and we know there are laws that are involved with those activities and as stated I think for sure they are never mentioned or glossed over.
One last point this month Portland had the how to get rich in TAx lien investing come through town. There are no Tax Liens on the west coast LOL its only tax sales which are completely different than tax liens.
One thing is for sure with BP backing this guru there will be legions of BP members who will think because its on BP then it has to be great etc etc. with no clue how this industry works. - 3yKerry Noble JrPro MemberInvestor · Indianapolis, IN · Member since 2018 · 2k+ posts · 1k+ votes
My partner Gator Lends....let me know
- 3yJohn UnderwoodPro MemberInvestor · Greer, SC · Member since 2014 · 13k+ posts · 17k+ votes
What is "Gator" lending?
Same as private money? Hard money?
New one on me.
- Real Estate Consultant · Cleveland · Member since 2020 · 6k+ posts · 3k+ votes3y
Quote from @Karl Washington:
Has anyone had experience with this? Where did you find your gator lender?
you dont, you either you have it or you don't, STOP reading books,
- Financial Advisor · Boynton Beach, FL · Member since 2019 · 127 posts · 80 votes3y
I'd also add that if you are not able to come up with earnest money yourself (which typically isn't going to be a substantial amount of money in the scheme of the deal), you probably are not in the financial status to buy the property in the first place. The amount you ideally want to have in reserves for repairs/CAPEX is multiples of your earnest money in general.
- 3yJay HinrichsBusiness MemberReal Estate Consultant · Summerlin, NV · Member since 2014 · 45k+ posts · 66k+ votes
Quote from @John Underwood:
What is "Gator" lending?
Same as private money? Hard money?
New one on me.
From what i read in other threads its specifically loaning money to wholesalers for EMD . while there may be some bizz there its small dollars Most EMD are 500 to maybe 2k how much interest you going to make on those ? to me its just hype and far from a true bizzness opportunity. IF in fact Gator lending is lending EMD to wholesalers. U already have plenty of established transactional lenders ..
- 3yJohn UnderwoodPro MemberInvestor · Greer, SC · Member since 2014 · 13k+ posts · 17k+ votes
Quote from @Jay Hinrichs:
Quote from @John Underwood:
What is "Gator" lending?
Same as private money? Hard money?
New one on me.
From what i read in other threads its specifically loaning money to wholesalers for EMD . while there may be some bizz there its small dollars Most EMD are 500 to maybe 2k how much interest you going to make on those ? to me its just hype and far from a true bizzness opportunity. IF in fact Gator lending is lending EMD to wholesalers. U already have plenty of established transactional lenders ..
The wholesalers I know don't put down any EMD and can therefore walk away from a contract if they don't get it sold by the deadline.
- Investor · Scottsdale Austin Tuktoyaktuk · Member since 2021 · 4k+ posts · 4k+ votes3y
Quote from @Don Konipol:
Quote from @Karl Washington:
Has anyone had experience with this? Where did you find your gator lender?
After 40 years in real estate I can tell you this; the number of lawsuits that are going to result from this lending of earnest money is going to be astronomical. Spelled “FRAUD and MORTGAGE FRAUD.
I think of it as an "attorney full employment program".
What's scary is that there are people (Gurus, not to be mentioned of course) that are teaching "students" to hide the "Subject To" property in a Land Trust which "PREVENTS" the bank from calling the loan due. I'd love to know how that works. Lol - 3yJay HinrichsBusiness MemberReal Estate Consultant · Summerlin, NV · Member since 2014 · 45k+ posts · 66k+ votes
Quote from @Account Closed:
Quote from @Don Konipol:
Quote from @Karl Washington:
Has anyone had experience with this? Where did you find your gator lender?
After 40 years in real estate I can tell you this; the number of lawsuits that are going to result from this lending of earnest money is going to be astronomical. Spelled “FRAUD and MORTGAGE FRAUD.
I think of it as an "attorney full employment program".
What's scary is that there are people (Gurus, not to be mentioned of course) that are teaching "students" to hide the "Subject To" property in a Land Trust which "PREVENTS" the bank from calling the loan due. I'd love to know how that works. Lol
I think I know how it works.. it does not work.. if you alienate the title the bank has the right to accelerate the loan full stop. Not the obligation but the right. - Member since 2020 · 69 posts · 21 votes3y
Wow—Dave del Dotto. Now that’s a name from the past. Him and Ione Gray were holding seminars, weekly in So Cal/many moons ago. And I did learn how to use no money down techniques from them.
- Flipper/Rehabber · Wilton, CT · Member since 2015 · 4k+ posts · 4k+ votes3y
Quote from @Don Konipol:
Quote from @Chris Seveney:
@Jay Hinrichs
They also were writing a book with onofrio
It’s like anything - those who brag the most and market the most get the attention.
I don’t know anything about him except someone did a video where he lost like $1M investing in a Ponzi scheme. Hope his course isn’t on due diligence
@Jay Hinrichs and @Chris Seveney
You guys probably know this, but for the less knowledgeable and less experienced
When you see a POLISHED presentation for seminars, mentorships, courses, etc., its almost certain that it was produced by one of a very few marketing companies located in either Las Vegas, Nevada or Provo, Utah. While there are a few of these programs built around people who are (1) successful in the program they’re offering (2) providing a legitimate, ethical way to earn money and (3) honest about the effort, knowledge and experience a customer will need to have a chance at success, the vast majority mislead, lie, or omit one, two or all of the above.
In other words these marketing companies do not care whether or not the person engaging their services is legit, experienced, successful or a career criminal. If someone has the money, they will create the entire program, down to seminar scripts, levels of selling, advertising, promotion, recruitment of employees, and every other aspect. The “guru” merely follows the script.
If you’d like proof of how shady this industry is, don’t “google” a currently popular guru - chances are he or she hasn’t been popular long enough to garner negatives. Look at past gurus who at one time were the “it” real estate guru ; you’ll find numerous governmental lawsuits by the FTC, IRS, U.S. Attorney, local district attorneys; you’ll find numerous private lawsuits by consumers defrauded; you’ll find cease and desist orders; fraud judgements, and often criminal complaints.
I will provide you with a personal experience. In the 1980s and 1990s I got to know John Beck, a California investor who had success with probable sales, tax lien judgement sales, and other distress situations, as well as “real estate exchanging” utilizing “junk” lots as some of the “trade”. John also taught courses on these topics, and self produced some amateur looking material. If you were able to read through the non quality type and grammatical errors of his books, there was a lot of great insight and information mostly specific to California.Around the early 2000s John decided that he wanted to become very rich, such as he thought he saw other gurus doing (Robert Allen, Al Lowery, etc.). He hooked up with an early version of these marketing companies and they produced a packaged “program” for him. He then became a staple of the late night “infomercial”, at one point as frequently appearing as Carlton Sheets. Unfortunately, John not only over promised, but misled, lied, and failed to deliver even the minimum of what he sold. The Federal Trade Commission sued him, and John lost a $113,000,000 ($113 million) judgement. John was last seen leaving the Federal courtroom after the verdict, and has not been seen since! Another person who knew John better than I did told me that John had been studying asset protection from the time he was sued by the FTC, and that a number of John’s friends believe he’s living on the beach in a country with no extradition treaty with the United States.
So here’s my bottom line. There is NO shortcut to becoming successful in real estate. Jay Hinrichs, Chris Seveney and myself did not sign up for a guru mentoring program one day, and with no background, knowledge or experience in real estate start doing unbelievably profitable deals based only on the knowledge gained by signing up with the guru. It takes years of experience, years of learning, trial by fire, missteps, and STAYING POWER. Just like building an airplane, performing brain surgery, or any other profession. You need to start with a basic course(s) in real estate principles, real estate theory and real estate law. If you don’t know the basics, knowing a “program tool” will not be a sustainable way to success. Even if in the remote possibility you were to be able to do some successful transactions, as soon as the market winds changed you’d be back to square one; having lost everything you made because you were unable to recognize and didn’t have the knowledge to adjust to changing economic conditions.
I’m convinced that the vast majority of people who buy these offerings think they will be short cutting the learning process. This is the most dangerous misconception. Even if what the guru teaches isn’t junk (it usually is), the person without the core foundation does not have the ability to use this information profitably.
I am actually writing a book about this exact thing now!
- 3yJay HinrichsBusiness MemberReal Estate Consultant · Summerlin, NV · Member since 2014 · 45k+ posts · 66k+ votes
Quote from @Joe Daigle:
Wow—Dave del Dotto. Now that’s a name from the past. Him and Ione Gray were holding seminars, weekly in So Cal/many moons ago. And I did learn how to use no money down techniques from them.
check out his Wineries he makes some first class Napa Valley wines.. He actually has two locations the one on Atlas Peak was across my my residence. Thats how I got to know him. - 3yDon KonipolBusiness MemberInvestor · The Woodlands TX / Avon, CT · Member since 2009 · 6k+ posts · 10k+ votesI look forward to reading it.
Quote from @Jerryll Noorden:
Quote from @Don Konipol:
Quote from @Chris Seveney:
@Jay Hinrichs
They also were writing a book with onofrio
It’s like anything - those who brag the most and market the most get the attention.
I don’t know anything about him except someone did a video where he lost like $1M investing in a Ponzi scheme. Hope his course isn’t on due diligence
@Jay Hinrichs and @Chris Seveney
You guys probably know this, but for the less knowledgeable and less experienced
When you see a POLISHED presentation for seminars, mentorships, courses, etc., its almost certain that it was produced by one of a very few marketing companies located in either Las Vegas, Nevada or Provo, Utah. While there are a few of these programs built around people who are (1) successful in the program they’re offering (2) providing a legitimate, ethical way to earn money and (3) honest about the effort, knowledge and experience a customer will need to have a chance at success, the vast majority mislead, lie, or omit one, two or all of the above.
In other words these marketing companies do not care whether or not the person engaging their services is legit, experienced, successful or a career criminal. If someone has the money, they will create the entire program, down to seminar scripts, levels of selling, advertising, promotion, recruitment of employees, and every other aspect. The “guru” merely follows the script.
If you’d like proof of how shady this industry is, don’t “google” a currently popular guru - chances are he or she hasn’t been popular long enough to garner negatives. Look at past gurus who at one time were the “it” real estate guru ; you’ll find numerous governmental lawsuits by the FTC, IRS, U.S. Attorney, local district attorneys; you’ll find numerous private lawsuits by consumers defrauded; you’ll find cease and desist orders; fraud judgements, and often criminal complaints.
I will provide you with a personal experience. In the 1980s and 1990s I got to know John Beck, a California investor who had success with probable sales, tax lien judgement sales, and other distress situations, as well as “real estate exchanging” utilizing “junk” lots as some of the “trade”. John also taught courses on these topics, and self produced some amateur looking material. If you were able to read through the non quality type and grammatical errors of his books, there was a lot of great insight and information mostly specific to California.Around the early 2000s John decided that he wanted to become very rich, such as he thought he saw other gurus doing (Robert Allen, Al Lowery, etc.). He hooked up with an early version of these marketing companies and they produced a packaged “program” for him. He then became a staple of the late night “infomercial”, at one point as frequently appearing as Carlton Sheets. Unfortunately, John not only over promised, but misled, lied, and failed to deliver even the minimum of what he sold. The Federal Trade Commission sued him, and John lost a $113,000,000 ($113 million) judgement. John was last seen leaving the Federal courtroom after the verdict, and has not been seen since! Another person who knew John better than I did told me that John had been studying asset protection from the time he was sued by the FTC, and that a number of John’s friends believe he’s living on the beach in a country with no extradition treaty with the United States.
So here’s my bottom line. There is NO shortcut to becoming successful in real estate. Jay Hinrichs, Chris Seveney and myself did not sign up for a guru mentoring program one day, and with no background, knowledge or experience in real estate start doing unbelievably profitable deals based only on the knowledge gained by signing up with the guru. It takes years of experience, years of learning, trial by fire, missteps, and STAYING POWER. Just like building an airplane, performing brain surgery, or any other profession. You need to start with a basic course(s) in real estate principles, real estate theory and real estate law. If you don’t know the basics, knowing a “program tool” will not be a sustainable way to success. Even if in the remote possibility you were to be able to do some successful transactions, as soon as the market winds changed you’d be back to square one; having lost everything you made because you were unable to recognize and didn’t have the knowledge to adjust to changing economic conditions.
I’m convinced that the vast majority of people who buy these offerings think they will be short cutting the learning process. This is the most dangerous misconception. Even if what the guru teaches isn’t junk (it usually is), the person without the core foundation does not have the ability to use this information profitably.
I am actually writing a book about this exact thing now!
- Real Estate Broker · Minneapolis, MN · Member since 2011 · 5k+ posts · 6k+ votes3y
@Karl Washington to expand and clarify a bit on what @Don Konipol, @Chris Seveney, @Jay Hinrichs and the "PRO" likes are touching on.
My wife does Micro-Lending, this is NOT "gator" lending as in lending a person earnest funds, which by many finance industry "legal eagles" say is tantamount to facilitating MORTGAGE FRAUD.
My wife's business does SECURED micro-lending, which is asset based. Yes, a person MUST have an asset to securitize the loan; a car, boat, truck, airplane but they prefer not to do planes they prefer autos and boats.
That is what a LEGIT finance company/lending situation looks like. There are similar Micro-lenders all over the U.S.. No, not a lot of them but, they do exist and if ask around your regional banks should know who they are and make the referrals.
Where my wife is at they have been around for 7 decades now, so it's nothing new. Ag industry uses it a lot, very common in Ag so maybe check in those geographic areas.
I do not have anything nice to say of "gator lending" myself, I get that it's a new flashy "cool" thing but that does not mean legal or legit, lot's of BS has been "cool" until it imploded from weight of it's own manure. That's my opinion of "gator lending".
- Investor · Cary, NC · Member since 2012 · 214 posts · 194 votes3y
I can't really tell if the initial post was in jest or serious, but if one needs a lender for EMD then that's a VERY shaky start to an investment.
- Flipper/Rehabber · Wilton, CT · Member since 2015 · 4k+ posts · 4k+ votes3y
Quote from @Don Konipol:
I look forward to reading it.Quote from @Jerryll Noorden:
Quote from @Don Konipol:
Quote from @Chris Seveney:
@Jay Hinrichs
They also were writing a book with onofrio
It’s like anything - those who brag the most and market the most get the attention.
I don’t know anything about him except someone did a video where he lost like $1M investing in a Ponzi scheme. Hope his course isn’t on due diligence
@Jay Hinrichs and @Chris Seveney
You guys probably know this, but for the less knowledgeable and less experienced
When you see a POLISHED presentation for seminars, mentorships, courses, etc., its almost certain that it was produced by one of a very few marketing companies located in either Las Vegas, Nevada or Provo, Utah. While there are a few of these programs built around people who are (1) successful in the program they’re offering (2) providing a legitimate, ethical way to earn money and (3) honest about the effort, knowledge and experience a customer will need to have a chance at success, the vast majority mislead, lie, or omit one, two or all of the above.
In other words these marketing companies do not care whether or not the person engaging their services is legit, experienced, successful or a career criminal. If someone has the money, they will create the entire program, down to seminar scripts, levels of selling, advertising, promotion, recruitment of employees, and every other aspect. The “guru” merely follows the script.
If you’d like proof of how shady this industry is, don’t “google” a currently popular guru - chances are he or she hasn’t been popular long enough to garner negatives. Look at past gurus who at one time were the “it” real estate guru ; you’ll find numerous governmental lawsuits by the FTC, IRS, U.S. Attorney, local district attorneys; you’ll find numerous private lawsuits by consumers defrauded; you’ll find cease and desist orders; fraud judgements, and often criminal complaints.
I will provide you with a personal experience. In the 1980s and 1990s I got to know John Beck, a California investor who had success with probable sales, tax lien judgement sales, and other distress situations, as well as “real estate exchanging” utilizing “junk” lots as some of the “trade”. John also taught courses on these topics, and self produced some amateur looking material. If you were able to read through the non quality type and grammatical errors of his books, there was a lot of great insight and information mostly specific to California.Around the early 2000s John decided that he wanted to become very rich, such as he thought he saw other gurus doing (Robert Allen, Al Lowery, etc.). He hooked up with an early version of these marketing companies and they produced a packaged “program” for him. He then became a staple of the late night “infomercial”, at one point as frequently appearing as Carlton Sheets. Unfortunately, John not only over promised, but misled, lied, and failed to deliver even the minimum of what he sold. The Federal Trade Commission sued him, and John lost a $113,000,000 ($113 million) judgement. John was last seen leaving the Federal courtroom after the verdict, and has not been seen since! Another person who knew John better than I did told me that John had been studying asset protection from the time he was sued by the FTC, and that a number of John’s friends believe he’s living on the beach in a country with no extradition treaty with the United States.
So here’s my bottom line. There is NO shortcut to becoming successful in real estate. Jay Hinrichs, Chris Seveney and myself did not sign up for a guru mentoring program one day, and with no background, knowledge or experience in real estate start doing unbelievably profitable deals based only on the knowledge gained by signing up with the guru. It takes years of experience, years of learning, trial by fire, missteps, and STAYING POWER. Just like building an airplane, performing brain surgery, or any other profession. You need to start with a basic course(s) in real estate principles, real estate theory and real estate law. If you don’t know the basics, knowing a “program tool” will not be a sustainable way to success. Even if in the remote possibility you were to be able to do some successful transactions, as soon as the market winds changed you’d be back to square one; having lost everything you made because you were unable to recognize and didn’t have the knowledge to adjust to changing economic conditions.
I’m convinced that the vast majority of people who buy these offerings think they will be short cutting the learning process. This is the most dangerous misconception. Even if what the guru teaches isn’t junk (it usually is), the person without the core foundation does not have the ability to use this information profitably.
I am actually writing a book about this exact thing now!
I honestly would love your critique. Will send you a copy!
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