Posted by William Bronchick on February 20, 2002 at 20:37:18:
Donald Trump filed bankruptcy, too. Would you decline real estate advice from him?
Real Estate Guru Rating? - Posted by Kevin Plotner
Posted by Kevin Plotner on February 19, 2002 at 20:49:45:
I’m just beginning the road to real estate investing and have read Kiyosaki’s and de Roos’ books. Being very excited I began looking for other information sources for details and to back-up what I’ve learned. During this search I found a site that rated real estate gurus. I thought it was great until I read that Kiyosaki and de Roos books were questionable.
The site: www.johntreed.com/reedgururating.htm
Now my question. Does anyone know if this guy is reputable? is he off base? or do I need to take the Kiyosaki books with a grain of salt?
Kevin
I appreciate any comments. This may just be someone with a very different view of real estate.
Re: Real Estate Guru Rating? - Posted by GL(ON)
Posted by GL(ON) on February 23, 2002 at 11:42:37:
Kiyosaki is a glib cheerleader but I wouldn’t put too much stock in what he says. He is one of those guys who likes to shoot off his mouth about things he really knows only third hand and by hearsay. Think Cliff Claven on a seminar stage or writing a book.
Reed actually does know what he is talking about, up to a point. But he is way too strict. If you want a cross between the Harvard Business School and the Marines he’s your man. To hear him tell it anything the least bit unconventional is a disaster and a rip off. Then he turns around and writes a book on how to do what he just said you shouldn’t do LOL. Look at his book, How to Buy Real Estate for 20% Below Market Value, then compare to his comments about ripping off unsophisticated sellers by buying from them cheap.
Re: Real Estate Guru Rating? - Posted by Matt
Posted by Matt on February 22, 2002 at 10:14:24:
Kevin,
I too had checked out John Reed’s site quite some time ago and even invested some of my money in his “books”. He publishes them himself from his home computer. Not that it means it doesn’t have relavant information but it’s certainly not something you can find locally at your bookstore. He does have some interesting views and most certainly is not afraid of foisting his opinion of everyone else out there that has written on the topic of real estate. One last thing that I found as unsettling was I spoke to him on the phone for nearly 2 hours one day questioning him on his real estate practices and his honest answer was that he hasn’t actually invested himself in over 10 years! Personally I try to find a teacher that has at least kept up with the marketplace in the last decade and do I really want advice from someone that isn’t practicing in the current economic environment?!?
I like what William Bronchick said earlier about “those who have no legs teaching you how to run” idea… keep it in mind when you look over John Reed’s info. Just my .02
Matt Yohnk
MPD Investments Inc.
myohnk@mpd-investments.com
Re: Real Estate Guru Rating? - Posted by Utah Investor
Posted by Utah Investor on February 21, 2002 at 23:05:17:
Find one that you like and follow exactly what that one says. Everyone differs so much based on their experience.
Bronchick’s Flipping book is great, & Brochick is great too.
Joe Kaiser is great too, he is more designed for more experienced people. That works if you are ready for that level.
What are you looking for?
A Book, Course, Email Mentor, Phone Mentor, Come to you and work with you Mentor?
Re: Real Estate Guru Rating? - Posted by Fred C
Posted by Fred C on February 20, 2002 at 09:38:23:
As is suggested, check the archives on John Reed. The consensus seems to be that he finds fault with just about everyone else, but HE has the information or course that will set you on the “correct” way of investing. Again, check the archives and then make your decision.
The “critic” - Posted by William Bronchick
Posted by William Bronchick on February 20, 2002 at 09:21:39:
I don’t who first said this, but it certainly applies:
“The critic is a man with no legs who wants to teach you how to run.”
Re: Real Estate Guru Rating? - Posted by Fox_IL
Posted by Fox_IL on February 19, 2002 at 21:00:33:
I found John Reed’s site and thought it was “amusing”, but I didn’t believe much of what he said just because I know many of the techniques suggested on this site have been used and have worked REGARDLESS of where people live.
Search on his name in the archives like I did. You’ll find some “interesting” views to say the least. Then you can decide for yourself.
Fox
Re: Real Estate Guru Rating? - Posted by Rob
Posted by Rob on February 23, 2002 at 14:37:43:
The funny thing is that I haven’t heard too much about any successful JR students around. Why is that? They should be standing up bragging and shutting people up. I am sure they exist, but why haven’t any of them spoken out yet?
Re: Real Estate Guru Rating? - Posted by Kevin Plotner
Posted by Kevin Plotner on February 22, 2002 at 08:44:22:
I’m looking for an education right now. I’m reading archived email just picking up the lingo and ideas; I’m learning definitions and such.
Basically putting together my resources so when I go out, I know where to look for forms, help, ideas, clauses, financing, etc.
I would love a mentor but only after I have my education at a level that I’m satisfied with. I don’t want to be one of those who play with this or quit.
Kevin
Re: Real Estate Guru Rating? - Posted by Kevin Plotner
Posted by Kevin Plotner on February 20, 2002 at 13:42:29:
Thanks all for the input. I will take his reviews with a grain of salt.
Kevin
Re: Real Estate Guru Rating? - Posted by Jason Willis
Posted by Jason Willis on February 20, 2002 at 13:06:58:
I checked out that guys site as well - looks like all he could find bad about Ron Legrand was the high cost of his courses. I personally am studing Legrand right now - I don’t think Reed has the answers I want. I did, however find it interesting to see how so many “Guru’s” filled bankruptcy in the past.
Jason
Re: Real Estate Guru Rating? - Posted by GL(ON)
Posted by GL(ON) on February 23, 2002 at 16:09:41:
I’m sure they have better things to do than hang out with low class slobs like us LOL.
You don’t hear about successful students of anybody too often.
Re: Real Estate Guru Rating? - Posted by Utah Investor
Posted by Utah Investor on February 22, 2002 at 08:52:51:
If you going to buy a basic book to understand, buy
How to pick up Foreclosures by Wade Cook.
Now Wade (bless his heart for trying to be a real estate guru), it is a good book to understand the basics. When it comes to the real nuts and bolts, it’s lacking, but a great book to get started with.
Next is Bronchicks, Flipping Deals (where’s my commission?). That is great.
I also love Joe Kaiser. He has a Binder called
How to dominate your foreclosure marketplace.
I had already done many many deals when I found Joe’s Binder. I thought I had finally found someone else that did it exactly like I did.
That should get you started.
Best Regards,
Utah Investor
Re: Real Estate Guru Rating? - Posted by tang-0-rang
Posted by tang-0-rang on February 20, 2002 at 14:36:44:
it doesn’t really matter who filed bankruptcy in the past, if they learned from their mistakes and hopefully became successful. case in point…rumor has it Bill Gates filed BK, also high school yearbook states he was most likly to do nothing with his life…go figure.
just my thoughts
Todd Williamson
Re: Real Estate Guru Rating? - Posted by Kevin Plotner
Posted by Kevin Plotner on February 22, 2002 at 09:09:21:
Thanks for the suggestions. I’m on 'em.
Kevin