Most people who start off interested in real estate investing quit within about three or four months.
So, these type of people hit you while you are “hat” and get paid. Whether you turn out to be a serious investor or just another of the dropouts, does not matter to them. They got heir money up frunt.
I doubt their claim about beginners making good real estate deals within three months. Seems highly unlikely to me. Maybe the people buy something, but a good deal? I doubt it.
Ask them for 20 names of students who you can telephone to verity that they are happy with the service. If they will not give them to you, forget them. If they do, start calling and asking questions. Particularly ask if the studen knows anybody else who paid for the program and get their phone nubmer and call them.
You have done google searches on their company and personal names?
I would greatly appreciate any advice on this matter.
I am new to investing in Real Estate. I know money can be made and people have done so. I have been reading a lot about real estate - foreclosures, Liens, contracts etc. I have read a lot of information on this web site too and am very thankful for it.
I had replied to an email send to me offering 30 min of free info with a RE Investor. This was from the company “The Creative Real Estate Institute” ( http://www.creativerealestateinstitute.com Dan Wagner, President, CEO). Subsequently I was called by someone (Ian Metcalf) to pre qualify me and said that his senior Investor would talk to me regarding details. Later in the evening on a decided time Doug Haymond called me and discussed my goals and past experiences. He asked to verify the balances on my credit card and available credit and called my back in 15 min after I had the information.
The company offers 12months of mentorship; a mentor is assigned to you (I think that will be Bret Ehlers), approve and guide you thro all deals. The tuition fee is $6785 upfront (The fee includes a 3 day seminar by Robert Shemin held every quarter in Nevada and Florida). Doug asked me to put it on my Visa (compares cost of education in getting a Degree etc). He sounded very convincing and genuine. He says an average student completes at least 2 home transactions in 60-90 days and they would like another success story from me.
I have to commit to:
5 - 10 hours/week,
proper appointment with coach (course starts with 10 sessions of 30 min each in first 14 weeks),
take action on the principles,
document every offer,
submit 12 seller information worksheets every week.
I have not found anything derogatory about them.
Being personally coached sounds tempting (saves a lot of time compared to reading and try it myself); but that’s a big price for mentorship. I don’t mind paying if I can see results.
Many Thanks and Regards!
Sundeep
Chicago
Why not take the $6700 and use as a down payment on a house? Mortgages are easy to get at low rates right now. Many places have 5% 10% investor loans with good rates. If you are planning to leap frog from one property to another you can get 100% owner occupent. Stay there a while and rent it out and move on to the next deal. To me if you buy a house no money down (with a higher rate) but it cost $6700 for the information on how too then thats not a no money down deal.