Newbie Q- Gurus - Posted by Kellie

Posted by JHyre in Ohio on March 30, 1999 at 15:31:41:


Thanks for taking the time to post that! Clearly had lots of thought put into it. I enjoyed meeting you at the convention.

John Hyre

Newbie Q- Gurus - Posted by Kellie

Posted by Kellie on March 30, 1999 at 09:31:23:

I keep hearing the names of the RE Gurus, and I’ve just got to ask a few questions before I invest in more of their stuff. We’re going through the Sheets program now.

1- Are these guys just making money through selling their programs and materials, or are they really doing RE?

2- How much do the programs overlap?

OK, here’s your path to riches… - Posted by Baltimore BirdDog

Posted by Baltimore BirdDog on March 30, 1999 at 14:40:04:

Dear Kellie,

First of all, let me say that it’s always great to read posts by someone with your enthusiasm. Second, I can and will answer your questions, but I don’t think they’ll give you the answer you and a lot of newbies are looking for which is “I’ve discovered an area full of opportunity, but where in the world do I start?”

About 12 months ago, I was in your exact situation. So many books, so many tapes, so many gurus…I was going out of my mind. I had (and still have) lots of ambition and enthusiasm, but at the time, I was feverishly reading everything I could get my hands on trying to figure out which direction to go. Sound familiar?

About two and a half months ago, I found this site. There are no words to describe its true value, but AWESOME, UNBELIEVABLE and ABSOLUTELY INCREDIBLE begin a feeble attempt. If you don’t already feel the same, you will. But anyway, here’s what I suggest you do if you want to accelerate your path to riches…

Read the articles and try to decide what area you want to specialize in. For this purpose, a good article to read is Ron LeGrand’s “Triple Your Income in the Next 12 Months.”

Once you’ve chosen an area, pick up a book or course from the area guru and study it. This shouldn’t take more than a couple weeks. If you’re looking for opinions, News group II talks exclusively about the gurus and their courses. Personally, here’s my experience…

  1. Russ Whitney Three-Day Weekend Seminar: Good for me when I was first getting to know the business. Helped to make me realize that this business is for real. Shows you some basic techniques such as flipping and lease options and helps you formulate a business plan including what resources you need and who you need to have on your team. Sketchy on the details, but only because they cover a lot of ground to give a good overview of the business. Never been to his boot camps so I don’t know about them. Final judgment? Knowing what I know now, I wouldn’t have gone to the seminar. Why?:

a) evidence that the business is for real is all over this site

b) you can get an idea of the basic techniques from this site

c) here’s the team members that you’ll need (search the archives on this site for advice on how to find the good ones):
-good Realtor (to hunt down deals on the MLS and do comps for you, especially when you’re investing part-time)
-good real estate attorney
-good title company
-good accountant
-good rehab crew (if you choose to rehab properties and sell them retail)
-good property manager (if you eventually hold rental property)

d) here’s the tools that you’ll need:
computer, printer, fax, phone, car

  1. Ron LeGrand’s materials: Bought them and they’re worth every cent. Pulls everything together and tells you in a step by step manner how to make money now. AND it covers most if not all of those pesky little details. If you’re looking for a guide on how to set up a money-making system, these courses fit the bill. Very well done. His book is great too (“Fast Cash with Quick Turn Real Estate”). Really helps to give an overview of the business. Available on

  2. Bill Bronchick’s materials on lease options and asset protection: No personal experience but everyone raves about them. I plan to buy them when I have time to focus on them.

  3. Lonnie Scruggs’s materials on mobile homes: No personal experience but everyone raves about them. I plan to buy them when I have time to focus on them.

Finally, once you’ve chosen an area and read a book/course, get out there and DO IT!!! Understand that you’ll make mistakes and probably won?t swing every deal that a more seasoned investor might, but as long as you’ve minimized your risks (which the course should teach you to do), so what? The only way you’ll ever get to be an expert is to be a beginner first, and you can’t be a beginner unless you take action. Me? I’m in the course studying stage, but I’ve been out looking at properties every weekend, trying to get a feel for the property values in my area.

Many new investors seem to choose wholesaling, lease options or mobile homes to get started. Personally, I’ve chosen wholesaling because it seems to be the easiest for me to do on a part-time basis. Taking LeGrand’s advice, I’m staying away from rentals and rehabs as a beginner. Here’s some other pieces of advice from yours truly?

-Do your best to stay focused on your chosen area. Constantly think about why you’re doing what you’re doing to stay on the right track. With all the info out there, it’s easy to lose focus.

-If you have a job, stick with it until you’ve done a few deals and you’re confident that you can repeat your successes on a regular basis to generate monthly cash flow to pay the bills. However, treat your job as the temporary position that it is. Don?t get me wrong. Respect your employer (he is paying you, after all), go in on time and do your job. But LEAVE ON TIME and create some time every day to spend on your newfound passion. Don’t stay late. Don’t go the extra mile for your employer. When it comes bonus or review time (if you haven’t already left, that is), they probably won’t care anyway. Always remember, your number one resource is time. Use it wisely for your own maximum benefit, not your employer’s.

-There are a lot of good books out there. Someday I’ll list all my recommendations. For right now, ignore them. Choose an area, get a course, and start yourself on the fast track to wealth. There is nothing in those books that either a) is so important that you need to read it before you start or b) isn’t covered in the course that you choose or can’t be answered by a quick post to the message board. I have a pile of books just sitting on the shelf since I found this site and purchased LeGrand’s course. I will read them eventually, but they’re not the fastest way to get started.

-Recognize that expertise in sales and negotiation will increase your income potential exponentially in this or any business. Most real estate courses don’t cover this in depth. There just isn’t the space or the time. I still wouldn’t read any sales books before I started prospecting and making offers, but as you go along, they would be some of the first I’d read.

-Knowing property values is key. In time, you’ll know them yourself. For now you may have to go through a Realtor or to get a comparable market analysis (“comps”), unless you’re able to get recent property sales information some other way.

-Have a plan. Sit down with a calendar and chart out your action steps for selecting an area, reading the course, putting a team together, and doing deals. Focus on action (I’ll make 12 offers this month) rather than on financial goals. You can shoot for minimum profits, but be conservative and never count your chickens before they’re hatched.

-Find a mentor in your area if you can. Take them to lunch and ask questions. There are lots of people who are out there doing deals every day who are glad to help. They can be an invaluable resource if you take the time to find them. Just be sure to respect their time and not pepper them with a hundred little questions each day. Organize your thoughts, write down your questions, and make it a lot easier on yourself and your mentor.

-Give back. Once you’ve had some successes, tell everyone on this board. Post a success story. We like to hear stuff like that. It pumps us all up–newbies and pros alike. Also, try to participate in the message board. Answer questions and give your thoughts when you can. Our participation along with the seasoned pros is what will continue to make CREOnline the great resource that it is.

And finally, in answer to your questions?

>1- Are these guys just making money through selling their programs and materials, or are they really doing RE?

All things considered, it doesn’t really matter if the content of their programs and materials is good. Ask yourself this. If real estate made them rich, why would they stop doing it? However, you are right to try to separate your good sources from your bad sources. Robert Allen, Russ Whitney, Carleton Sheets, Wade Cook, and everyone who sells courses on this site is doing or has done real estate. John T. Reed is the only one I know of that has barely done any real estate. Though the reviews on his book regarding tax avoidance for real estate investors seem to be good, I would be cautious in reading this book and wouldn’t take ANY advice from him judging by the reviews of Mr. Reed from many on this site.

>2- How much do the programs overlap?

I’m sure there is significant overlap in one area. Take rehabbing for instance. Does that mean I won’t buy Scott Britton’s course eventually because I have LeGrand’s course? No. It may contain an idea which LeGrand’s does not which will make me thousands of dollars. However, I won’t buy Scott Britton’s course until I have the time because right now I’m focused on getting started and getting to the point where I can do RE full time. The key is to pick a course that has good reviews and get started.

So there you have it, a mind dump from someone who’s been researching this business for the last 12 months. This should shave at least 6 months off your startup time. Hope all this helps to boost your confidence so you can move forward, and I look forward to reading some of your success stories!!! Rock on.


Don’t Mention It… - Posted by Baltimore BirdDog

Posted by Baltimore BirdDog on April 01, 1999 at 15:48:00:

Really. I’m happy to post anytime I have the time and know the answer to a question. Given everything I’ve taken away from this site, it’s the least I can do. Nonetheless, thanks to you all for taking the time to post your appreciation. It really gave me quite a rush reading them all and learning that I could help so many people achieve their goals. Let me give credit where credit is due though, and say that many of my thoughts are distilled from hours of studying and learning through the experience of others. So while I may have done a good job summarizing, it’s really the gurus on this site, my mentor and friend Steve Cook, and authors such as Robert Allen, Russ Whitney and Ron LeGrand, who deserve the credit and the thanks. Good luck and continued success to all, and I look forward to seeing you all at the next convention. Now let’s all go out and start making some real dough!!!


Re: Excellent Post Birdog (Jeremy?) - Posted by Nick

Posted by Nick on March 31, 1999 at 06:32:56:

Hello Jeremy;

Wow, that was an excellent post Jeremy. Thank you
very much for sharing your information unselfishly.

All newbies should read; great post, Jeremy (nt) - Posted by HR

Posted by HR on March 30, 1999 at 20:17:11:


Re: OK, here’s your path to riches… - Posted by Tamika

Posted by Tamika on March 30, 1999 at 19:13:22:


That was alot more than .02…

That post was worth a MILLION!!

Thanks for your advice.


AGreed - so well said. nt - Posted by Carol

Posted by Carol on March 30, 1999 at 17:32:04:


Re: OK, here’s your path to riches… - Posted by KF(Phoenix)

Posted by KF(Phoenix) on March 30, 1999 at 17:12:23:

Great job Jeremy!

Re: OK, here’s your path to riches… - Posted by Kellie

Posted by Kellie on March 30, 1999 at 16:51:36:

Wow! Thanks Jeremy! When are YOU offering a class?? I very much appreciate your thoughtful post! I’m going to save it and memorize it and perhaps pray to it or something… no, seriously, thanks- this is the kind of straight talk I was hoping for!