Austin Davis good for funding, or should I run? - Posted by Mike Reilly

import · April 11, 2010, 7:37pm

Posted by Tommy on July 15, 2010 at 15:38:46:

I agree. I bought the program. Then I joined his “AMG” group. I got a discount so I pay $66 per month. These are the first posts I’ve read that seem to real and honest. The money paid for the course and the monthly recurring is peanuts in comparison to when you need to use their broker to “set up” funding for you with one of “their private lenders.” The broker calls is a consulting fee. The sticker price? $2500!!! And I got a notice via paypal. Suspect to me!! I decided to run the other way. Been ripped off too many times. caveat emptor. Its strange to me that someone can get a person to send them $2500 cash online…never meeting you, or evening making themselves available by phone. (He claims that until you are actually working on a deal with him, phone calls are off limits." This so called “Austins” team has office location according to the course, but no phone contact etc. I want funding too, but my fear of being suckered again far outweighs my willingness to send large amounts of money to someone on the internet that I’ve never met before or never will meet. J

import · April 11, 2010, 7:37pm

Posted by Mike Reilly on April 11, 2010 at 19:37:59:

Through web searching about a week ago, I’ve come across the Austin Davis web site, for Commercial RE funding. He has a course for $199, and $99 per month to be in his program. His funders will potentially partner with me on commercial projects, even to substantial millions of dollars, or they may loan me the money. He has lots of testimonials on the site, which say his funders came through. I havent purchased yet.
I get taken too easily. I see a lot of red flags here. He just sent an email saying his course is going up to $399, and I have 48 hrs to still purchase for $199. When I do a web search for review/comments about him, I see the same 3 or 4 very positive reviews/testimonials on many, many web sites, but no other comments. (I did, however, see positive comments on a couple of web sites that seem real.) No experience needed, they will teach, etc. It seems too good to be true.
I have until 6:50 pm EDT 13 April to buy at the $199 price. I need this if it’s real.
I apologize if I should have posted on the Carlton Sheets forum. I figured that you are the people who would know.

import · August 12, 2011, 6:49am

Re: Austin Davis good for funding? - Posted by Robert Kim

Posted by Robert Kim on August 12, 2011 at 06:49:46:

I just got spammed from someone pushing this “guru” and have a few thoughts about it.

How to sniff out the fake gurus from the real one?

Ask for PROOF of deals they’ve done. HUD-1 Settlement Statements of the deals they’ve supposedly done. If they say they can’t disclose this because of “confidentiality”, they’re probably fake.

It’s easy to understand why gurus can’t disclose information while a deal is in progress, but once the deal is done there shouldn’t be any problems with disclosure, especially if they are trying to sell you on their self-proclaimed expertise.

For example, Karen Hanover was a total fraud but over 100 people gave her as much as $30,000 each without checking her credentials (Google her name, Karen Hanover, and you’ll see how bad it got). I spoke with some of the people that Hanover said she worked with at the big commercial brokerages and they all said that she was lying. All it took was a single phone call to save $30K but nobody bothered to do that. Hanover ended up stealing well over $1 million by getting people to buy into her fake credentials.

I still get calls from “gurus” trying to sell me their programs but now I ask for proof and it doesn’t surprise me when I get the standard response that they can’t disclose it because of “confidentiality”. From then on, I either hang up on them or, if I’m bored, jerk them around a bit before hanging up.

As of now, I’ve only isolated four gurus who are actually doing deals and will only consider their information as being valid and worthy of spending BIG dollars on to learn (two are in the Boston are, one is in Virginia, and one is in Atlanta). I’m in partnership with two of them on deals already so I know they’re the real deals. I don’t mind spending a little (very little) money to learn from the other unproven “gurus” but reserve the big money for these proven four.

Good luck. Remember, when they call you to sell you their stuff then act offended when you ask them for proof, YOU should be the one who is offended since they called YOU, you didn’t call THEM.

import · April 19, 2010, 4:22pm

Re: Austin Davis - Posted by Mark (SDCA)

Posted by Mark (SDCA) on April 19, 2010 at 16:22:31:

If he has acess to all this money, why isn’t he out DOING deals with it?? You don’t really think that in this environment there are no deals to do are there??

When I look for funding, I am VERY wary of anything that requires an up front fee.

Here is what you wrote:

His funders will potentially partner with me on commercial projects, even to substantial millions of dollars, or they may loan me the money

The key word is POTENTIALLY. As in maybe not. As in they will always find something wrong with your deal.

Finally, this is a RECURRING cost. That is how Austin Davis is making his money… 99 at a time. I might be willing to dump the 199 on the off chance that I would learn SOMETHING. But NOT the 99 recurring.

GL,

Mark

PS The price going up is a dead give away. It’s NOT going up. If you call 49 hours later, they will still give it to you? In this economy, can you imagine ANYONE turning a sale away? Hard sale tactic = red flag. Next.

import · April 12, 2010, 8:44pm

Re: Funding pitches - Posted by ray@lcorn

Posted by ray@lcorn on April 12, 2010 at 20:44:23:

Mike,

I’ve never heard of the guy, but I’ve seen a ton of similar pitches. Also heard a lot of complaints of non-performance. Fact is, financing is very tight, so a pitch promising painless funding for deals is going to get read, and a certain number will bite. $200 bucks is low enough that unsatisfied clients won’t bother to sue and flies under the radar of the regulators.

In my experience, there are no painless solutions out there, just a matter of degree. Underwriting from every funding source is as tight as it’s been in 20 years. If you think about it, in this environment sources of funds can cherry pick the best deals, so why stretch the parameters and increase risk?

You’ve done what I would do, searching out comments from others. The planted posts are a flaming red flag. You’d probably find some other discrepancies by checking on the corporate registration records, state licensing, and perhaps SEC registration (or complaints). Reputable companies will have clean records, clear contact info, a verifiable track record, and references from banks, lawyers and customers.

My advice would be to let the deadline pass, then let us know what the follow-up pitch is, because I’d bet my bottom dollar there will be one. In the end, if it sounds to good to be true, it usually is.

Caveat emptor,

ray