Does John T Reed just have an axe to grind? - Posted by Jerry --PA

Posted by Bill K. (AZ) on June 01, 2000 at 20:43:52:

Carolyn,

I’d be happy to help you. Feel free to write me at bkonst@coollink.net. If you want to talk, write to me, and I’ll reply with my phone number.

Bill K. (AZ)

Does John T Reed just have an axe to grind? - Posted by Jerry --PA

Posted by Jerry --PA on May 30, 2000 at 15:32:17:

I was doing some searches on real estate investors and came across John T. Reed’s web site. He slams virtually all of the authors of the courses recommended by creonline. He gets Kaiser, Bronchick, Legrand, and even does a good job on CS. He said at his site that there is no legal way around due on sale clauses and that if you use them it is unethical at best and illegal at worst. My question is does he know what he is talking about or does he just have an axe to grind against other investors. Check out his web site Johntreed.com/realestate.html A Newbie like me would be very interested in any opinions that any of the seasoned investors might have.

Re: Does John T Reed just have an axe to grind? - Posted by Carolyn Murray

Posted by Carolyn Murray on May 31, 2000 at 21:20:56:

Forgive me for 'sneaking in" on this conversation - but is there someone out there that can help me get started - I have a course - C.S. - but I need help when I am studying. I really want to do this. Forgive the intrusion! Thanks.

Re: Does John T Reed just have an axe to grind? - Posted by Rob FL

Posted by Rob FL on May 31, 2000 at 10:10:24:

You may want to check the archives, because Reed has been discussed a zillion times already, but here goes again.

Even though he is very negative and bashes alot of his competition, I think he does some good because he forces people to look at another side of the issue. He does a long bashing on Carleton Sheets. I have a little problem with Sheets myself. You can watch Carleton Sheets infomercials until you are blue in the face and they all tell you how this person who was down and out bought the course and now has $5000 a month in positive cashflow after only 3 months in business. They never seem to mention that this is a BUSINESS and it takes WORK, TIME, and EDUCATION to do something like this with any long-term stability.

On the other hand, Reed does sell books and courses of his own and probably most of the negative comments are used to pump up his own products. Also, if you will note Reed hasn’t owned any investment property since 1992 and even then only owned about 15 or so properties during a 30 year time span (all disclosed on his website). He does try to justify himself, but the arguments are very weak, and he never does explain how he can be an expert on a subject he has not been involved with on a practical basis in 8 years. Not too great of a track record to be criticizing others, write books on the subject, and be a self-proclaimed “guru” – at least in my opinion.

Re: Does John T Reed just have an axe to grind? - Posted by Steve-Atl

Posted by Steve-Atl on May 31, 2000 at 08:48:29:

I’m not sure why, but he does seem to grind his ax. The world is full of naysayers, and it is up to each successful investor to overcome negative viewpoints.

Regarding due on sale, the term “illegal” is used frequently by these naysayers as a scare tactic. The due on sale clause simply gives the lender the right to call it due if title transfers. The clause itself does not require them to call it, and I’ve never heard of a law requiring the lender to call it, therefore how can it be “illegal”?

Believe me, it works. The lenders want to be paid. If that happens as agreed, the lenders are not harmed in any way regardless of who is on title.

By the way, I don’t believe in lying to the lender about it. Someone could say that’s fraud. Its better to just do it and if the lender asks, tell them the truth. They may huff and puff, but when presented with the choice of getting payments on time versus taking the house back, they typically back down because they really want to be paid.

He is different i agree - Posted by Glenn(OKLA)

Posted by Glenn(OKLA) on May 30, 2000 at 16:31:17:

I think the general opinion here and i agree…is that he is biased in his critique…because he also sells his own course. BUT as any professional salesperson knows…its unetheical to insult your competetion.

I am sure there are more experienced investors here that will respond also.

JUST my humble opinion

Glenn