Matt Bowman's Lease option system - Posted by CharlesTN

Posted by J.P. Vaughan on February 01, 2002 at 20:58:14:

The “pro’s” on this site hang out on our Main News Group, not in this forum, which is for discussing infomercial gurus.

I have NOT blocked any positive comments in this thread. I have removed personal attacks and irrelevant idiotic remarks.

In my opinion, Bill Bronchick’s “Lease Options Workshop” is the best place for a beginner to start. Bill is both an attorney and an experienced real estate investor. I can recommend his course without hesitation.

Matt Bowman’s Lease option system - Posted by CharlesTN

Posted by CharlesTN on January 28, 2002 at 17:17:32:

I have hesitated posting this question here because I see someone posting here and other boards all sorts of stupid commetns and obviously just wanting to stir up trouble or need something to do with their time. However, I would like some comments (from anyone except Pete or Laura or Willie or Frankie or whatever name this person wants to use) on his course. I talked to Matt a couple of months ago and although he now sells courses and mentoring, he actually took me by the hand and walked me through getting a lease option on a house of my own for FREE! He REALLY sounds like he knows his stuff. Does anyone here have his course? I am only interested in people who have it and have actually tried using it. Matt told me that since he got a lot of negative feedback from one person on this board, he made a major revision to his course using that, and what people who had bought his course suggested. If you have seen either the first or second version, I’d be interested to hear what you think. ANd one more time, I am NOT interested in personal attacks or comments from people who have not used the course or even seen it. I don’t mind if you have something negative to say, I just don’t want to see some stupid posts from someone who has nothing better to do with their time than stalk some RE guru on line. Thanks in advance to all legitimate posters!

Re: Matt Bowman’s Lease option system - Posted by Jennifer

Posted by Jennifer on February 02, 2002 at 01:14:01:

Matt’s system has been a godsend for me. I’ ve put together 15 deals after studying it twice, and 13 of those have closed so far.
I use an attorney for every transaction and I STRONGLY recommend that everyone does this regardless of which course you are using.

Of the ones (courses ) I hve reviewed in recent months, Matt’s course has worked the best for me.

Re: Matt Bowman’s Lease option system - Posted by J.P. Vaughan

Posted by J.P. Vaughan on January 28, 2002 at 22:22:40:

This is a copy of the review I wrote after I declined to offer this material here. You can find the original post somewhere in the archives of the Main News Group. In all fairness, I have heard that Matt has added some additional material since I reviewed it. In my opinion, this does not change that fact that he didn’t know enough about this topic to include it in the first place, and it further underscores his lack of breadth on the topic.

Matt Bowman’s lease option course is a classic example of
the “blind leading the blind.”

This course adds absolutely nothing to the already existing
body of lease option literature. This course is touted as a
course for BEGINNERS, yet this is exactly the kind of
material that can get a beginner into trouble BIG TIME.

Matt’s lack of any significant real estate investing
experience is sorely evident throughout. And the biggest
problem is that Matt, as a beginner himself, just doesn’t
know what he doesn’t know.

This is precisely why we decided NOT to offer Matt’s
material on this site.

Here are some examples of really bad advice:

About title searches:

Matt states: "It is most times preferable to have the title
search done professionally at least on your first few deals."
He also states at page 57: “It is possible to do a title
search by yourself by going to your local courthouse and
asking for the appropriate office to look up property records.
You can then ask a clerk there to show you how to look through
the records to check for outstanding liens.”

Is that REALLY “possible” for a beginner? Duh-uh. Ask an
eight-dollar-an-hour clerk to show you how to do a title
search? As an attorney (without expertise in this area), I
wouldn’t really trust my own title search. But a beginner
should trust the clerk?

What if the owner tries to sell the property behind your
back? Matt’s answer at pages 80-81:

About a Performance Mortgage:

“I have heard many investors say that they prevent this
from happening by getting a performance mortgage recorded
against the property…The reason I don’t even discuss
that is because I try to do everything I can to make the
lease option deal appear appealing to the seller…”

At page 84: “If you are trying to add an encumbrance to
their property by recording a performance mortgage, this
may be too much for the seller and they may decide not
to sign.”

About a Memorandum of Option:

“I do not record these memos as a standard practice. Again
the reason for that is to make this an easy sell to the
seller while basically protecting my interests.”

Let’s see, we have no performance mortgage, no memorandum
of option, so how is it exactly that Matt “basically
protects his interests”? And how is it exactly that a
stone-cold beginner will protect his or her interests?

Even MORE important, how do you protect the interests of
your tenant/buyer? What happens to them if the owner, the
IRS, or a judgment creditor puts an additional lien on the
property??? Can you say, “Oh, oh, lawsuit time”?

This is serious stuff, folks. And it’s downright dangerous.
Especially for beginners who don’t know any better.

Matt’s biggest concern, as demonstrated throughout this
material, is making it an “easy sell” to the owner and
locking up the deal at any cost. This is the classic case
of beginner as “motivated buyer.” It’s a surefire way to
get “creamed” in real estate.

You don’t succeed in real estate by being a motivated buyer.
You succeed by offering solutions to people who have a real
need to sell their property now. You succeed by becoming a
"problem solver." You succeed by protecting your position
and interests, and the interests of your buyers, even if it
means losing the deal.

Matt Bowman is a nice young man who has very little real-life
real estate investing experience. We decided NOT to offer
his course here because it simply does not meet our standards.

J.P. Vaughan

Re: Matt Bowman’s Lease option system - Posted by Pete

Posted by Pete on January 28, 2002 at 20:34:15:

Charles,
I am with Scott. I gave my opinions of the course which I happen to own. Yes, my comments were negative but they are my opinions. I have compared his course to the likes of Bronchick (excellent course, btw), Joe Kiasier (another excellant course)and Ron LeGrand’s. I am a full time investor and I make good money with all types of RE investing. I have done L/o’s, sub2’s, CFD, and many other types of deals. So I know what I am talking about.

Charles, why don’t you want my opinion? You asked for opinions from people that have read Matt’s course. You want opinions, either bad or good. My opinion happens to be negative. So because of my negative comments you and others classify me as a heckler that is out to put Matt down. Well, that is just not true. I am sure Matt is a nice guy with good intentions but his course isn’t very good. I just find his course inferior to other’s I have read. The course doesn’t have any eyeopening information. His marketing techniques are nothing new. His course is just a rehash of courses Mr. Bowman himself has read over his SHORT career.

Charles, if Mr. Bowman “took you by the hand” on a deal and you felt he knew what he was doing why don’t you take a shot and drop 129 bucks for the course? Makes me and the rest of this Newgroup wonder about your true motivation for your post.

Oh, btw, charles do you think that some of my negative comments (as well as other peoples comments) might have influenced Matt to put some real meat into his course? I will guess, yes. If he doesn’t make changes, his sales will slump and he will lose his cashflow on his course.
Bottom line, my friend, the course is not worth what he is asking for it. A newbie would be better off spending his/her money on a more complete and thorough course like Bill Bronchicks. And then when you are ready you should get Kaiser’s course which is a bit more advanced.

Take it anyway you want Charles but your motivation for your post seems to be to boost up interest in Matt’s course. If you won’t take the risk on a $129 course after Matt helped you get a L/O deal for “FREE” then I would not expect a newbie that has no experience with Matt to purchase it either.
As an experience investor, I give the course 2 thumbs down.

Thanks for you post Charles.

++++++++++
++++++++++++
++++PETE++++
++++++++++
++++++++

I have a question - Posted by ScottS

Posted by ScottS on January 28, 2002 at 18:22:53:

As to YOUR legitimacy!

You say Matt instructed you on how to buy a home of your own on a L/O. Then you come on here asking about his course and citing past history about the situation.

Seems to me you should know if his techniques work or not, I mean after all you are living in a home he showed you how to acquire. Right?

I smell a rotten egg here. I say it’s a nice ploy for an advertisement!

Scott Smith

Re: Matt Bowman’s Lease option system - Posted by J.P. Vaughan

Posted by J.P. Vaughan on February 04, 2002 at 09:38:25:

Wow. Matt’s “course” has been available for only about six months. And you’ve already done 15 deals? That’s pretty amazing. In fact, it’s unbelievable! Please give us all the details.

Also, please tell us all the other courses you have “reviewed” that do not work as well as Matt’s. Since I have seen most of the lease option courses on the market, I also find it unbelievable that Matt’s “worked best.” Please. Tell us why it is better.

Re: Matt Bowman’s Lease option system - Posted by Pete

Posted by Pete on February 03, 2002 at 18:19:29:

Jennifer,

I tried to email you privately. Why do you have a non-valid email address? Your credability just went down the tubes.
See, if your email is fake, you are most likely a shill plugging Matt’s course.

Again, your post means nothing without detail and a valid email address.

Pete

Re: Matt Bowman’s Lease option system - Posted by Pete

Posted by Pete on February 03, 2002 at 17:42:39:

Jennifer,

Congrats on the deals you have done. Would you mind telling us about some of the deals you have done? Were they sandwich lease options? What were some of the numbers.
What other courses have you reviewed?

Tell us more. Don’t leave us hanging.

All the people that praise the course never give any specifics. What did you like about it? What makes it better than the ones you have reviewed? How long have you been in the business?

I look forward to the details in your reply.

Pete

Re: Matt Bowman’s Lease option system - Posted by CharlesTN

Posted by CharlesTN on January 28, 2002 at 22:57:01:

OK, you say that he didn’t know enough to include the material in the first place. Does that mean that now that he added it, you still think it’s no good? Have you seen the new revision? Has he solved the problems that the course had before? if the course now has what you suggested, does that mean that it is complete now? Again, I am fine with negative comments. If you still think that his course is no good with the new revision, I’d like to know why. YOur comments are exactly what I was looking for. (Except for the personal attacks.) I was looking for specifics from someone who has actually seen his courses.

Re: I have a question - Posted by CharlesTN

Posted by CharlesTN on January 28, 2002 at 18:37:47:

Scott, This is not an insult, but comments like yours are what I was trying to avoid. Yes, I have had experience with Matt and his methods. Yes, he walked me through a deal to get a house of my my own and the guy really seems to know his stuff. Please do not take this as sarcasm, but go re-read my post. I was NOT asking if his methods work. I was specifically asking for COMMENTS ON HIS COURSE FROM PEOPLE WHO HAVE SEEN IT. I have not seen it, only talked to Matt. Please only respond if you have comments on THE COURSE. That is what I am looking for. I am not advertising Matt, although I had a good experience with him. Again, the point of my post is VERY SIMPLE. I asked for comments on his course FROM THOSE WHO HAVE SEEN IT, whether good or bad. I am not asking if his methods work! I am looking for comments on his course from people who have seen it. (Is this clear enough yet?) Scott, I’ve got nothing against you and I sincerely hope this thread doesn’t start going the direction that you are suggesting. Again, this is not an insult. Please re-read my post and respond IF you have seen the course and have a comment on it. Thank you.

Re: Matt Bowman’s Lease option system - Posted by BR

Posted by BR on February 04, 2002 at 20:51:37:

JP,
One of the regular contributers on this sight, with no reflection on you or this sight of course, claims to be doing 2-4 deals per week. That would equate to, with an average of 3 deals per week, 4.3 weeks per month to 77.4 deals in a six month period. Now ‘that’ is unbelievable don’t you think? I don’t know or care how many deals Jennifer does but I do believe it’s a good idea to keep the hip waders handy.

Re: Matt Bowman’s Lease option system - Posted by Fletch

Posted by Fletch on February 15, 2002 at 11:27:18:

Pete,

Since all your posts have been deleted on the other site I thought I would respond to you here.

There has been a credibility issue regarding you ever having a copy of Matt’s course.

You have been saying you purchased it on E-bay and then when you were called on it you changed your story. You went from saying you purchased it on E-bay for $20 to changing your story that you borrowed the course from a friend. That you made up the E-bay story because you wanted to keep your friend’s name anonymous.

That definitely raises a credibility issue about you having read the course.

So to clear this up and provide evidence that you have in fact read his course, how about posting several quotes taken from Matt’s course giving chapter and page numbers to prove your claim of this? I know you now say you borrowed the course, but please don’t come back and say since you borrowed it you no longer have it. If that is the case then just borrow it again and provide some quotes from it. That would certainly clear the air over this and show you actually have seen and read the course.

Agree???

Read her post again… - Posted by JHyre in Ohio

Posted by JHyre in Ohio on January 30, 2002 at 06:46:15:

First off, I haven’t seen Matt’s course and have no opinion either way. JP answered your question in her post…the fact that corrections were necessary means, in her opinion, that Matt is too green to be putting out a course. Given that JP cares very much about the reputation of this site and is very selective about what she will sell, her unwillingness to sell a revised course is understandable…it’s about standards. Given the recent proliferation of L/O courses from every corner of the internet, such screening is vital. You may not agree with her opinion…but your question re “why not accept the course now” is answered in her post.

While I have no opinion on Matt’s course, I am glad that JP is out there screening. Given most people’s ignorance re RE (see the John Doe posts on the main newsgroup), high standards are vital in an environment replete with courses…I for one appreciate her screening. Whatever your view of JP or her opinions, I know beyond any doubt that she takes great pain in screening materials. She could move more volume by selling every course under the sun- and chooses not to.

John Hyre

Re: Matt Bowman’s Lease option system - Posted by William

Posted by William on January 29, 2002 at 07:23:07:

Charles, perhaps you should consider a course in reading comprehension. What exactly is NOT clear in JP’s above post? The consensus is evident: the course rates a thumbs down by most folks who are familiar with it and the contents of it. How much clearer need that be? No one is attacking the author. The material is being criticized. Isn’t this what you are asking for?
Or, as some have suggested, are you a shill for the course and its author? I can understand these suspicions because you claim you were led to the land of glory and were assisted into home ownership with the grace and powers of the author. If true, and you are STILL struggling with the idea of dropping a C note for the material, you are either one cheap and ungrateful SOB, or as previously stated, this is nothing more than a thinly veiled ad campaign.

Okay Charles - Posted by ScottS

Posted by ScottS on January 28, 2002 at 21:38:09:

You win!

I’ll just say, I know the gentlemen VERY well and what Pete has been saying over and over is extremely accurate.

Good Luck.

Scott Smith

Re: Read her post again… - Posted by jeremy

Posted by jeremy on January 30, 2002 at 20:56:57:

Matt is a great guy. His course is working great for me! He is courteous, professional, and not afraid of ANY answers!

Kudos, Mr. Bowman!

Nope…William, you are wrong! - Posted by Tyrell

Posted by Tyrell on January 29, 2002 at 23:14:51:

it is YOU that needs a course in reading comprehension.

He asked JP if she’d read the revised.

Vaughan gave no answer.

Re: Okay Charles - Posted by CharlesTN

Posted by CharlesTN on January 28, 2002 at 22:59:30:

DId you have a bad experience with this guy? If so, would you please share it? I really liked the guy after our phone conversations but am curious why you have a problem with him especially since you know him well. What do you know about him that makes you not like the guy?

what do you like about the course… - Posted by Pete

Posted by Pete on January 31, 2002 at 24:19:15:


Why don’t you tell us what you like about the course, jeremy? How many deals have you done after reading the course? Do you own any other L/O course so you have something to compare Matt’s by?

Again,Jeremy, I am glad you like the course but I and others would like to know why you like it.

What version of the course do you have?

I will be looking forward to your reply…

Pete