So Called Guru's - Posted by Henry Carter

Posted by ray@lcorn on November 13, 2010 at 14:07:19:

Lin,

Thanks for the kind words. I’m both flattered and humbled. It’s always a treat to hear from folks that like my work, but I most admire those like you who take action and put the knowledge to work. That keeps me mindful of my responsibility to provide the very best information I can.

So glad to know my material helped you along your path, and I sincerely appreciate you taking the time to post your experience.

With best regards,

ray

So Called Guru’s - Posted by Henry Carter

Posted by Henry Carter on October 11, 2010 at 10:05:02:

I have been listening to webinars on Dave Lindahl, Karen Hanover and DC Fawcett on investing in multi-units apartments with no money down nor usuing your own credit. I have yet to personally know of anyone who is a student or has sucessfully used any of their system. I am actually very close to purchasing either the Dave Lindahl or DC Fawcett course. What I am asking is has anyone in the CRE Community used or know of anyone who has used any of the mentioned systems and had success with it?

Buy Ray’s. Skip the others. - Posted by Lin (NC)

Posted by Lin (NC) on November 09, 2010 at 17:14:05:

I have Ray’s commercial course and Dave Lindahl’s apartments and self storage. (Ebay is the place to pick the wanna-be’s courses up cheap and unload them if they’re not keepers. Buy Ray’s course here.)

Ray’s is head and shoulders above ANY other course I own with regard to commercial real estate.

I used his template to create loan packages for my first self storage deals and an apartment complex and I got funding and much praise from the banks about the quality of the data and thoroughness of the package. But it’s not just window dressing for the banks; you need to be sure the deal works for you, and creating the packages will force you to ask the hard questions.

Sorry to chime in here so late, but hopefully this will encourage those on the fence to buy Ray’s stuff. It helped me buy about $4m of commercial properties with confidence as a relatively new investor. Priceless!

Spend the money and read the material. And yes, it’s very detailed, but SO worth taking the time.

Lin

Re: So Called Guru’s - Posted by ray@lcorn

Posted by ray@lcorn on October 22, 2010 at 15:50:01:

Henry,

I’m familiar with some of Lindahl’s training, but haven’t read his materials or been to his class. My understanding is that he teaches basic syndication models combining private money (debt or equity) with bank debt or seller financing to get the deal done. (Note to Dave’s students: If I am mis-informed please don’t hesitate to correct me.)

These are proven strategies that many have used for years, myself included, going back to my start in the eighties. The key is to get the structure and the paperwork right BEFORE you present to anyone to review. I’ve met several of Dave’s students who have successfully acquired properties.

I don’t know the focus of the other two people mentioned, or their students, so can’t comment.

Other valid no-money down, no credit strategies are Master Lease with Option, Straight Options, Subordination, Partnerships, and Sweat-Equity deals. Again, 90% of success here is getting the deal structured and documented correctly. Very bad things can happen if the docs aren’t in order, and drafted to protect your position.

However, do not confuse “no-money down” with 100% financing. That sword swings both ways, and cuts deeply. See this article: “100% Financing: Feeding the Desire to Acquire” at http://www.creonline.com/articles/art-203.html

Goes without saying though… doesn’t matter what you system you buy if you don’t use it.

best,

ray