Posted by Houserookie on October 09, 2003 at 23:57:58:
Reed claims freedom of speech on his site…which is fine. Problem is he owns a commercial website that has an order page thus his right to free speech is gray.
John T. Reed? - Posted by Kevin TEXAS
Posted by Kevin TEXAS on October 09, 2003 at 12:31:07:
I was referred to his site from a posting here. After I spent some time on his site, I do not know how to take him. Anyone with experience with him and his opinions?
This is great! - Posted by Bill Bronchick
Posted by Bill Bronchick on October 10, 2003 at 16:30:53:
Check this out…
WHERE IS RON STARR WHEN… - Posted by Jo
Posted by Jo on October 09, 2003 at 16:21:51:
WE WANT AN ANSWER. On the Sheets board a post asks where John T. Reed has been. His site has not been updated in months. Did Russ Whitney finally get to him?? Maybe he bought him off to shut up!! Ron Starr do you have a REPLY???
In the words of Dirty Harry… - Posted by Bill Bronchick
Posted by Bill Bronchick on October 09, 2003 at 15:44:04:
In the words of Dirty Harry… an opinion is like an *sshole - everyone’s got one. That’s what Reed’s opinions are worth.
Some of what he says is true.
Some of what he says is flatly false.
And most of what he says is irrelevant or grossly excaggerated (even more so than the financial results claimed by the gurus he criticizes).
Stuff like “So and So filed for bankruptcy in 1986”
So what? Donald Trump filed for bankruptcy in 1992. Would you turn down real estate advice from him?
He’s basically a “reporter”, because he hasn’t done a deal in since 1980’s and the market has changed drastically since then. He has some basic information that is relevant about real estate (although not worth more than the sticker price of his $30 books). However, he’s out of touch and full of opinions and speculation about things he’s never done (like lease/options, flipping, creative financing, etc). So, while he may have some interesting opinions on “gurus” I would say you get better opinions from people ON THIS SITE about the gurus. These are opinions from people who have bought courses and been to seminars and done (or not done) deals using the guru materials.
Re: John T. Reed? - Posted by Dolf
Posted by Dolf on October 09, 2003 at 13:30:14:
A delusional and bitter old man who failed miserably as a real estate investor!
Re: John T. Reed? - Posted by Randy
Posted by Randy on October 09, 2003 at 13:28:45:
Do a search in the archives for John T some like him, some don’t.
Re: This is great! Isn’t it? - Posted by Willie
Posted by Willie on October 13, 2003 at 19:12:49:
Check this out too. www.Johntreed.com, Information on Gurus, check Whitney
I didn’t realize that he had ever been - Posted by warden@jail.com
Posted by warden@jail.com on October 10, 2003 at 19:02:04:
incarcerated… That is the only place that they take photos like that one…
Re: WHERE IS RON STARR WHEN… - Posted by therehabber
Posted by therehabber on October 10, 2003 at 24:00:02:
John T. Reed is alive and well.
Talked to him on the phone 2 weeks ago - to buy
a few of his books. I don’t know him- never talked
to him before.
He is crusty - but his crankiness seems more directed
at the state of the REI industry (due to too many hyped-up
$3000 a course guys like Whitney, Kiyoskai, etc.).
Yes- John Reed hasn’t invested in a while and may have
had mixed results, but most coaches in the
NFL that are good and were ex-players were average or even below
avg. players, yet their coaching is good. Reed is similar -
he may be ‘out of the active game’, but
his experiences are still worthwhile.
I read his 2 books- how to buy for 20% less than mkt
value (foreclosures, tax sales, probate, etc). Lists
over 30 ways. These 2 books of Reed’s
were some of the better REI books I’ve read
for 2 reasons:
- they give various methods and list pro’s/cons of each and
- I’ve read alot of other REI books that sucked.
So, IMHO, these Reed’s books are better than
the avg. REI book. Refreshingly, he doesn’t put too
much negative opinion in his books. He is opinionated
and somewhat negative on his site, but his books are
much more objective.
My 2 cents…
well…when RW is finished with Reed - Posted by Houserookie
Posted by Houserookie on October 09, 2003 at 23:08:22:
Reed will wish he had purchased some of the asset protection courses he criticize.
If you’re going for the underdog, pick Reed. If you’re going by law, go Russ.
Re: WHERE IS RON STARR WHEN… - Posted by Hank FL
Posted by Hank FL on October 09, 2003 at 19:58:24:
When Ron first showed up around here many thought he was one in the same as Reed.
Not true, but it was funny nonetheless at the time.
Re: In the words of Dirty Harry… - Posted by Willie
Posted by Willie on October 09, 2003 at 19:10:07:
The above comments should smoke out Ron Starr!. These comments rival Reeds in controversial BS.
Not surprising, considering Dolf’s Guru Rating - Posted by Eric - GA
Posted by Eric - GA on October 09, 2003 at 19:09:10:
Dolf de Roos, author of “Real Estate Riches”, part of the Kiyosaki books, got a pretty scathing review from Mr. Reed. You can find it at:
http://www.johntreed.com/DeRoos.html
No wonder Dolf is always saying that Reed is delusional and bitter. Do a search on old Dolf “Geaurinsky” and you’ll find that the only places his name appears on the entire internet are in situaions where he is criticizing John Reed. What a wonderful legacy.
Eric - GA
Re: I didn’t realize that he had ever been - Posted by William Bronchick
Posted by William Bronchick on October 10, 2003 at 19:16:36:
Also, the DMV
Re: well…when RW is finished with Reed - Posted by Hank FL
Posted by Hank FL on October 09, 2003 at 23:18:02:
>>If you’re going for the underdog, pick Reed. If you’re going by law, go Russ.<<
Why do you say that H.R. ?
“A man’s got to know his limitations” - Posted by Hank FL
Posted by Hank FL on October 09, 2003 at 19:54:22:
Gotta love Clint. Gonna have to rent “Where Eagles Dare” again soon.
OK
Ummmmmmm… . Willie, would you do me a favor?
Go to reed’s site and look up the history of his transactions and see if you notice anything strange.
Keep in mind that most (90% ?) of Reed’s critiques are on those that teach single family house investing.
Reed ought to know his limitations.
Re: Not surprising, considering Dolf’s Guru Rating - Posted by Dimpil
Posted by Dimpil on October 11, 2003 at 22:28:59:
I must admit, I have read De Rooses book and I was amazed at his claims of how to increase value of a property. To me a lot of his claims were beyound belief. The best was his little book 101 Ways to Increase the Value. I found some good ideas in that book as a newbie investor. Some were too expensive for my plan but a good deal was doable.
I went to the site of Mr. Reed’s and started LOL because when I read Dolf’s book I felt the same way about some points he brought up. Like a 400 paint job will increase a home value by 20,000. Bricking it would and it really would be depended on the area.
I was taught by an underwriter (I’m a loan officer for a broker and appraiser and underwriters come in and teach us stuff to make us better loan officers) that as a guideline you get back 1/2 of what you put in with remodling on the appraisal. Then an appraiser went on to say, it depends on the area as you can over build for your block/neigborhood but 1/2 was a good rule of thumb when gustimating a value before a hard appraisal was done.
I was planning on an early bedtime… - Posted by Hank FL
Posted by Hank FL on October 09, 2003 at 22:08:41:
But I checked out the link provided.
I didn’t buy Dolf’s book because it’s not specialized enough for me, but I think it would make sense for many people.
Let me cut&paste just a little – I could do alot, but time does not permit.
>>The 100:10:3:1 Rule
One unique aspect of de Roos? book is his 100:10:3:1 Rule: ??if you look at 100 properties, put offers in on 10, and try to arrange financing for 3, you may end up buying 1.? I applaud him for fessing up to the fact that you have to consider a lot of properties to find one good investment. Although I suspect his fellow B.S. artists are going to take him aside and persuade him to remove that from future writings. Such harsh truths depress sales of their ?courses.?
50 to 1,000 actually
In fact, the correct number of properties you have to consider is 50 to 1,000. That?s based on my many interviews with professional investors. It varies according to your strategy. Bogus gurus often offer rules that are simpler and more precise than the facts allow because such rules attract novices.
Also, de Roos is telling you to physically inspect 100 properties. There aren?t enough hours in a day and may not be enough dumb Realtors® to escort you through that many properties. Also, pros use an abnormal sequence and make physical inspections late in the process to hold down the number of such inspections.> >“almost without exception, the rich got that way through real estate or keep their money in real estate p. xviii” - Dolf
““Not true. Forbes devotes an annual issue to the richest 400 people in the U.S. It tells how each made his money. Real estate is the source of their wealth for a minority of the 400. According to the 3/18/02 Forbes, the U.S. has 243 billionaires, only 14 of whom made their money in real estate. That?s just 9.8%, far from the ?almost without exception? that de Roos claims.””> " easy?[to get] returns [of] 20%, 30%, 50%, or 100% p. 3" - Dolf
““If you believe this, you have a childlike naiveté that disqualifies you from handling your own money. A legal guardian should be appointed to handle your affairs.”” >“says real-estate mortgages offer more leverage than buying stocks on margin p.4” - Dolf
““When a stock market investor wants leverage, he uses options, not margin buying. Options offer far more leverage than mortgages.”” >“If you had bought wisely, then the rent would more than cover your expenses. p. 5” - Dolf
“” When rent exceeds all expenses, it is called positive cash flow. Positive cash flow is extremely rare in real estate with normal mortgages. To have positive cash flow, tenants have to be willing to pay more to rent than they would have to pay to own their own home or apartment. That typically only happens in extremely depressed areas like Anchorage in 1989."<< - Reed
- What ? Is Reed insane ? Do I have to explain why he is sooooo wrong ? Again, SFH REI, stupid ! Not you Eric, Reed.
I’m tired.
So is Reed.