Question for Mr. Whitney - Posted by Bob (Md)

Posted by Frank Chin on March 09, 2001 at 09:17:45:


Thanks for your insight.

I’ve been Real Estate investing for close to 20 years. I also took courses through the years, including the the one I mentioned from fifteen years ago.

So I spent more than a few bucks on education plus blood and sweat.

I was hoping that you can share some of your brilliant knowledge and insight on this board with the rest of us.

Thanks for your time.

Question for Mr. Whitney - Posted by Bob (Md)

Posted by Bob (Md) on March 07, 2001 at 18:21:04:

Mr. Whitney,

First, let me say that I am somewhat overwhelmed at your willingness to support and contribute to these discussions - and the thickness of your skin as you let the passing barbs slide on past! I’m also taken aback by your open discussion of profit margins a few posts back. Most companies would never disclose their margins, and in my mind that puts you a cut above. (By the way, we have never met; I’ve never attended one of your seminars; nor have I purchased any of your materials…)

I know that there is a healthy skepticism surrounding those who make money from the transfer of knowledge. We have seen many, many good instances of poor examples in the real estate industry. I fear that the basis for a lot of the doubt comes from the old adage, “Them that CAN, do, and them that CAN’T, teach.” I’m not trying to cast doubt on your abilities as an investor, but a dose of healthy skepticism is a fact of life. Or, at least it seems to become that way as we grow older (experience?).

All of that being said, I have a question for you. Would you be willing to state, openly and for everyone to see, how much of your business comes from real estate investing (as opposed to teaching)? I’m not asking for a copy of your tax returns, but perhaps something like the number of units that you have bought and sold, or an aggregate value of the real estate transactions that you personally have been involved in. I know that this may be an unusual question, and I am not trying to argue one way or another.

But, there is another old adage - one of my favorites, “Nothing succeeds like success.” It seems to me that many of the doubters may be comforted somewhat, once they know the scope of your hands-on experience as an investor.

Thank you.

Bob Johnson

Re: Question for Mr. Whitney - Posted by rw

Posted by rw on March 08, 2001 at 10:01:44:


Look through this board a bit further (a little work for ‘you’) I addressed this in another post. In fact I gave pretty candid info on how much property I own, what percent of the education business is, in relation to net worth etc.

Not that I understand why one would care??? All of our training programs in the Russ Whitney Education Division come with 1`00% money back guarantees…

Russ Whitney

Here’s a Suggestion - Posted by Frank Chin

Posted by Frank Chin on March 08, 2001 at 07:57:17:

I took a Real Estate course some 15 years ago at NYU. The professor who taught the “Real Estate Investing” course said he’s been a professional investor for over 20 years - and made millions. Hands went up around the room - “Mr. Kempner - if you made millions, what are you doing here ??”

Mr Whitney is in the same predicament.

Mr. Kempner said "OK - here’s how I’ll run the course -you ask me specific questions on Real Estate Deals - I’ll bring in a Deal which I’ve done where I explained how I did it from beginning to end blow by blow.

These are specific situations the class wanted to know:

1- How do you go about finding a tired landlord - and consequently a motivated seller in Manahattan - New York.

2- Have you done a No Money Down Deal and describe how you found it and negotiations with the Seller.

3- Did you ever found a “No-wanter” and made money from it.

4- Did you ever made money from a deal peddled by a Real Estate Broker.

It was a great course. We were mesmerized by the blow by blow deal making aspect of it. We were grateful that a successful investor was willing to share his knowledge with us.

I guess if Mr. Whitney had a post “A No Money Down Deal I’ve done” or “How I found this Seller” - that’ll kick things up a few notches.

Re: Question for Mr. Whitney - Posted by Al

Posted by Al on March 12, 2001 at 08:43:36:

Russ that’s great, 100% moneyback guarantee, there are some posts above under “Reed Ohter Gurus” and a couple just yesterday on Group I that will certainly be glad to hear that! Are you going to give them their money back?

Closing the circle - Posted by Bob (Md)

Posted by Bob (Md) on March 10, 2001 at 18:08:58:

Mr. Whitney,

Thank you for answering my post, although you may have missed my point a bit. By the way, the earlier message you referred me to was being posted at the same time I was writing my query, so unfortunately, I was not able to read it until after I finished my post. I’m not lazy, just unable to time-warp :-(.

Oh well, c’est la vie, eh? For anyone following the conversation, Mr. Whitney’s earlier post is excerpted here - you can find the original further down in the list. Be your own judge.

Bob Johnson

> Posted by rw on March 07, 2001 at 08:32:05:
> In Reply to: OPEN INVITATION TO RUSS WHITNEY posted by Vic on March 07, 2001 at 07:40:35:
> I own over a thousand separate parcels of property, just in my own town. Am developing a number of guard gated community developments with parks, etc.
> Am probably one of the, if not the largest land owner in these here parts… Not bragging,Just letting you know that we can teach you at any level.
> However, be advised that I do not need to go anywhere to prove the validity of my knowledge and to see if my concepts have merrit. There is no question that in the arena of Real Estate Investment and business particpants in our industry, I would be by far the largest net worth individual, with the largest portfolio of real estate and cash flow (positive, by the way)… No question about it.
> Not bragging or being flip. I just think that folks who want to correspond, know what they are dealing with. I am not some info GURU who has not been in the game.
> My education business, although it provides a cash flow and profit,is the smaller part of my net worth, by far. Real Estate is where my long term net worth is, and has been, for years.

Re: Here’s a Suggestion - Posted by rw

Posted by rw on March 08, 2001 at 10:05:03:


Read my book, Building Wealth. It’s full of blow by blow deals. Also you can read my very first book Overcoming the Hurdles and Pitfalls of RE Investing. There is more of the same.

Time for you to spend a buck on your own education and put some blood and sweat into the deal… : - )

Sound familiar. Give a man a fish,you feed him for a day…Teach him how to fish, you feed him for a lifetime.

Above is your first fishing lesson.

Carry on!!!

Russ Whitney

Re: Question for Mr. Whitney - Posted by Brian Seltz

Posted by Brian Seltz on March 12, 2001 at 10:17:35:


I believe it also depends on the situation, (as you may or may not know). Although in most situations, there is a 100% money back guarantee, but in some situations, there are factors that come into play where we cannot issue a refund.


From the date a contract is signed, the buyer has 3 Business Days to cancel the transaction without penalty or obligation. If the contract is not cancelled within three Business Days, no refund will be issued. If the buyer chooses not to attend the training, and not to cancel within the above time, they may receive a credit towards other products or services of equal value. (Clearly broken down on our contracts)

If by the morning of the second day, after attending the first FULL day, the student feels the camp is not what it is warranted to be, they may ask for and receive a full refund on that course, no questions asked. You cannot attend a full 3-day training course, and ask to receive you money back six months later, after you decided not to put our techniques into use. Not that this happens often, but it does happen, unfortunately.

Our company has always prided itself on great customer service, it is the basis of our entire business. Without it, we cannot expect to stay in business for any period of time longer than we already have. We wish we could please everybody, but unfortunately we cannot. We do try and resolve customer issues fairly, and promptly.

If you or anyone else has a question about your situation, please feel free to contact our customer service department at 1-800-238-0741.

Thank you for your time,

Brian Seltz
Whitney Education Group, Inc.