Expected Air Date: 10/18/18
When looking for real estate investor training, watch out for the guru scam. Check out the so-called trainer. Is this person even going to be there?
A friend sent me an email the other day with information about a real estate seminar he had signed up to attend. Wanted me to check it out and tell him what I thought. I did some checking and told him he was in for a high pressure sales pitch that rivaled something between a time-share and a used car. But they would be much more polished than either – in fact, you might not even realize you were being conned.
I’ve seen these hucksters for years traveling the countryside taking people’s money and providing cheap canned information that anyone could learn for free. What’s worse is they know exactly how to convince you to pay $20-$50,000 and get their money by “helping” you raise your limits on existing credit cards or by borrowing from life insurance policies or your 401-K. If you’ve listened to my shows awhile you know I tend to get on a rant about this practice, but today I’m going to back up and have a little fun. A little later on I’m going to give you my Top Ten signs you’re real estate seminar is a worthless con.
We also have Bre Braswell joining us today. She is a Principal at Sole Source Funding and she’s going to tell you how you can get up to $250,000 in unsecured funding to use in your business. That’s right. $250,000. Unsecured. Not attached to your personal credit. Game-changer.
How to contact us
Twitter and Instagram @FlippingAmerica
We now have a profile at houzz.com for what it’s worth.
Call our National Comment Line: 404-369-1018, ext 1. Leave your message or your question.
- FlipStarter Nov 2-3, Atlanta, GA
- Lunch with me every Wednesday.
- Flipping America App is in the app store. You can listen to the show, read the show notes, and the entire catalog of shows is now available to you. It’s a free download and there are no upsells or in-app purchases. Free to download, free to listen. Go ahead and give it a try and drop me a line and let me know what you think.
- Want a quick analytical tool to tell you how strong a potential fix and flip deal is? Download the Property Grade app. You answer 10 simple questions about the property and the app instantly tells you what you can expect to make, your return on investment, your return on cash, and then the program gives the project a letter grade using the proprietary Flipping America Investment Property Grade algorithm.
Guest: Bre Braswell, Sole Source Funding
Topic: The Top Ten Ways to Know Your Real Estate Seminar is Actually a Con:
- The “nationally known” guru is not in attendance.
- Whose experience is being taught?
- Who has the experience to be able to credibly answer audience questions?
- What is the actual experience of the presenter and can it be verified?
- The name of the company behind the event is vague, not mentioned, or purposely mis-leading.
- Where is their headquarters?
- Who is the person or persons behind this company? Someone did the work to gain the experience to teach.
- This can be taught from a curriculum and a powerpoint, but the most polished professional who is also inexperienced cannot truly serve a real estate audience.
- The Presenter’s real estate credentials cannot be easily verified.
- Does he or she provide addresses of actual properties flipped?
- The Presenter does this presentation more than once a month. If they travel and do this presentation more than once a month there is NO possible way they are actively fixing and flipping houses.
- Early in the presentation (usually within the first two hours), they will have you fill out a worksheet with all of your assets as possible funding sources. Available credit card spending, 401k balance, cash value of insurance policies, etc. Later they will use this information to prove to you that you actually can afford their 20-50k in training.
- They take time to teach you how to call your credit card providers and ask for an increase in your limit. The really sneaky ones will put you in a group, challenge everyone to do it, bring you back and see if you collectively came up with an amount that would buy a house.
- They make lots of promises to you. And they will seem great!
- Results – lifestyle.
- Financial freedom
- Education of children – college
- They have an emotional story of their own financial distress and real estate saved the day.
- They will not let you take photos of the screens or record the event.
- They want to sell you another more expensive course. Free – Low Cost – High Cost – Upgrade.
Ways to check ahead of time:
- Check the name of the company. Look at their website. See what they emphasize.
- Google the name of the company followed by the word “reviews.” This may not be helpful, but it can be. One company I researched had over 1000 hits on a website called “Ripoff Report.” Anyone can say anything there and not all of it should be believed. But 1000 reports?
- Ask in online forums – Bigger Pockets, Connected Investors, Facebook Groups, Google Plus Groups etc. What have you heard about …?
- At the event, get the presenter’s full name. Find out where he/she is from. Note as many property addresses as you can during the event. Check those addresses online for ownership and transfers of ownership. Look for an entity that owned the property for 4-6 months in the past two years. Later on, if you get a chance to speak with the presenter, casually drop the name of the entity you found and see if you get a glimmer of recognition. If you’re convinced they are lying, just for fun, make up an entity name (or use your own if you have one) and ask them if that was the entity that bought 123 Main St (or whatever). See if they say yes.
Comment Line calls and Questions
Call 404-369-1018, press 1 and leave your message!
email@example.com Tell us where you’re from!
Motivational Thoughts for the day
- Earn a lot so you can have a lot so you can give a lot.
- -Tom Olson
[0:16] The show that teaches you how to make money in real estate wherever you are whatever your situation there is an opportunity for you flipping America is sponsored in part by American IRA
founded by investors for investors on the web at American Ira. Com.
And by Braswell Capital Solutions commercial lending made easy on the web at Braswell Capital solutions.com.
And now you’re sad flipping America guy Rodger Blankenship.
Thank you Kathy good morning everyone let’s talk about real estate but before we talk about real estate.
[0:54] Could I have a moment just for a personal Indulgence you see 5 years ago today my life.
Really took a dramatic turn for the better this is the day 5 years ago I asked Diana Donahue to marry me.
Now Diana doesn’t listen to the show live and she doesn’t always catch all of the shows even in the replay let’s face it she lives with me she’s heard a lot of what I had to say but she is my biggest fan and
today is the day 5 years ago I asked her to be my wife
and took her completely by surprise and it was really a great moment to end later
this afternoon I’m going home to surprise her I always remember the day that I asked her to marry me she hasn’t even thought about it and every year it sneaks up on her it’s really great so if you’re listening to this life today please don’t dig up
my wife’s social media and reach out to her and tell her that I’m about to come home with flowers and dinner reservations.
But yeah it’s a great day I always look forward to this day October 18th.
Every year because like I said she doesn’t remember it and I come in with some with a surprise and so is a wonderful day anyway
Diana I love you you’re the best thing that’s happened to me since Jesus and it is truly a joy to share life with you.
You’re my best friend so.
[2:21] Back to real estate hello everybody I’m Rodger Blankenship and I teach people how to make money in real estate in addition to loving my wife with every ounce of energy that I have I enjoy Real Estate as a means to an end it’s it’s a way to provide a a good living for my wife and to take care of my family
I hear we are on this show flipping America where we don’t teach everyone to just drop what you’re doing and start flipping houses like you see on TV but we do encourage everyone to consider real estate as part of a balanced Investment Portfolio and to that end we aim to bring you the best information news to tistics and whatever we can to help
hope you have a very good firm and positive experience in real estate So today we’re going to do something a little bit different.
A friend sent me an email the other day with information about a real estate seminar he had signed up to attend you wanted me to check it out and tell him what I thought.
Okay I know some things about real estate seminars.
[3:20] I did some checking and told him he was in for a high-pressure sales pitch that rivaled something between a timeshare and a used car but they would be much more polished than either one of those in fact.
[3:33] He might not even realized that he was being conned
how she needs hucksters 4 years traveling the countryside taking people’s money in providing cheap canned information that anyone could learn for free and what’s worse,
is they know exactly
how to convince you to pay 20 to $50,000 and get their money by quote and I’m using air quotes year but you can’t see it on the radio
helping you raise your limits on existing credit cards or by borrowing from life insurance policies or your 401k
if you listen to my shows while you know I tend to get on a rant about this practice but today I’m going to back up a little bit and just have a little fun a little later on I’m going to give you my.
[4:14] 10 signs you’re real estate seminar is a worthless Khan that’s coming up in just a little while we also have.
Brie Braswell joining us today she’s a principal at Soul Source funding and she’s going to tell you how you can get up to 200
$50,000 in unsecured funding to use in your business that’s right $250,000 unsecured not attached to your personal
credit and that’s a game-changer all right now anything like that sounds like the kind of scam that I was talking about the first but.
My friends my listening audience.
I enjoy the fact that so many of you listening to Dan and really appreciate your comments and the trust you’ve placed in me
I know Bri Braswell and I know what she’s doing with soul Source funding and I’ve checked.
[5:03] Check it out and I’ve sent people to her and she has helped them and I believe in what they’re doing and it is for real now so far
no one I sent to them has gotten 250,000 that’s kind of the upper limit but I do have one individual receive 275,000 and another who received a hundred thousand so it’s not out of the realm of possibility then we’re going to talk to Bri in a little bit
and get the details and we’re give your website and everywhere everything that you can do to get in touch with her.
[5:37] A couple of announcements first of all how to contact us we are on the web at flipping America Network.
Dot-com don’t forget the word network it’s flipping America network.com and you can find us on social media at flipping America if you’re looking on Facebook look up flipping America media
and I’m sorry for the confusion of all of this but that’s just the way it is on Twitter Instagram flipper at flipping America where on YouTube it’s flipping America where LinkedIn flipping America house.com
I don’t know why we have a profile there I don’t I don’t think we ever do anything with it but anyway were there
and if you have a question about real estate you can always email us questions at flipping America Network,
how come we answer all of the questions that come into the show we usually kind of
wait until we have a few that we answer that we want to answer on the show and then we’ll do some on the show but even offline.
[6:30] We will answer your question even if we don’t put it on the show we will answer your question whether it’s about real estate investing or just a purchase that you want to make
and if you don’t want to do the email thing you can always call us at 404-369-1018.
404-369-1018 press extension one.
[6:50] That’s our national comment line and I have to say this to talking about social media if you follow us on Twitter and Instagram you’re going to see links to.
A multitude of stories and articles in and news that we just don’t have time to get to on the show I mean we’re only on the show three days a week and frankly some of the stuff that that I send out is of interest and is related but
not necessarily something that you know made the cut to get onto the show all right now the articles that go out are personally curated by me
and when you look at this and you see you know 5 to 15 articles a day you will know
that the flipping America guy is dedicated to giving you the best information that he can and I’m reading through all the stuff I’m reading investment newsletters and and so many different sources to bring you the real estate news while I was engaged in this practice again last night I was sitting up the queue for social media for the coming next few days
and I saw a company and you’re going to get a link to this you just have to do this folks you’re going to get
a recommendation from a stock advisor and I don’t usually put those out there but this one is great simply because of the name of the company is one of the best company names I have
ever seen it’s a company that’s in the energy sector and they’re the name of the company is I kid you not stealth gas.
[8:17] That’s right stealth gas and I
I thought I said all I got to share this with everybody because any company that’s named stealth
gas should be worthy of our investment I don’t usually get into scatological humor here on this ship but I really think that maybe they should file a doing business as silent but deadly anyway moving right along
[8:43] We got a couple of events coming up for one we have an event every week lunch every Wednesday with me and and it’s always fun this past week we had almost 40 p.
At Huey luey’s and it was difficult to get around and talk to everybody.
Getaway deals brought to the table and the young man that brought some deals to table had some questions for me about why no one was interested in and it had to do with his numbers and that’s okay
we never embarrass anyone that brings deals even if what they have is not really a deal but we are there to help.
Them help make a better deal and he got us some questions I didn’t know the answer to buy the other people there and so that was a real teachable moment for him as well but we have other people there looking for creative financing and and their
diving in and and the trying to figure this business out while lunch with me every Wednesday is a great way to do it because the conversation topic is dictated by whatever questions people bring to the table and is
it’s it’s so much fun in the weather is so beautiful this time of year we had this week’s meeting on the outdoor patio so I’ll
if you’re ever in Atlanta you’ll stop by and join us at Huey luey’s for lunch every Wednesday.
[9:52] Coming up November 2nd and 3rd flip starter Atlanta flip starter is hour
to David well today and a half actually we start Friday evening and we go all day Saturday designed to tell you everything you need to know to get started fixing and flipping properties now I just said the shows not all about that.
It is some about that and a lot of people want to know how to do this and,
now later on in the show today I’m going to give you my top ten list to two of signs that the real estate seminar you’re attending is a con game and.
The reason I got started doing these events like flip starter and teaching people how to flip houses I was so sick.
[10:31] Of the abuse that I see out there and people taking advantage of other people’s hopes and dreams who just want to create a better life for themselves and their family so that’s the way we built flip starter hey we don’t make the money off of this that the big National gurus make you know why,
because we go about this we think with it in the manner that has more Integrity to it and it’s more of a personalized approach
and sometimes we turn people away and say you know I know that you can afford to take this course but I’m just not really convinced that you’re prepared to do what you need to do or I’m not convinced that you have the time to do what needs to be done to make this work
your money would be a waste so therefore don’t sign up with us.
Alright that’s one of the things that we do and of course you can get this kind of information Anytime by just going to the website and couldn’t hitting the blue button on every page it says click here for a free strategy session that gets you time most of the time.
With me directly that’s right we’re not so big that you don’t get a chance to talk to the flipping America guy and then that conversation we will talk to you about
your goals your dreams your aspirations and see what’s the best fit for you.
[11:43] Alright so I kind of completed a couple of blue announcements are but flipping flip starter November 2nd and 3rd you can sign up on the website flipping America Network
I come and right now we’re running the second mouse discount.
That’s because we got to throw a little humor in whenever we can the second mouse discount is going on for a few more days there’s a countdown timer on the front page and you got to sign up now.
We got people that will tell you that for 200 for $199 this is the Best Buy there is in real estate education training but right now it’s on sale for 149.
So go ahead and sign up today.
And we’ll see you there now come back for the minute Brie Braswell after that the top 10 signs you know that you’re real.
[12:52] Have you ever seen one of those Fix and Flip TV shows and thought to yourself I could do that or even better I’d like to do that.
But there has to be a way to get started that’s what we will do for you at flip starter flip starter is our 8-hour course designed to give you all the information you need in order to get started in the business of fixing and flipping houses on Roger Blankenship.
The flipping America guy who is fixed and flipped more than 800 properties over the years.
I will share with you the tools I developed for use in my own business the strategies the management techniques and the systems are used to build a business that was flipping a hundred properties for year.
What would it feel like if you could quit your job and not only work for yourself but own a business that will ultimately provide you with more income and more free time.
[13:38] My goal is to train the next generation of real estate Millionaires and I want you to be one of them find out more at flip starter event.com.
[14:07] Free Press will welcome to the show.
Thank you Rodger thanks for having me on or introduce you to the listeners as a principal at Soul Source funding now,
we know a little bit about hard money lending and private lending we talked about both of those on the show but tell us what soul Source funding does because it’s a little different.
Yes Soul Source funding provides unsecured funding or borrowers Real Estate Investors for their projects.
So we provide down payment assistance we provide Gap funding for their Fix and Flip project buy-and-hold or what-have-you we provide actually up to $250,000 in all cash.
[14:53] Who are the borrower in 5 to 7 days it is unsecured funding with no collateral required
well where can I go to get $250,000 of unsecured funding to use right.
Alright so what’s the catch there’s got to be a catch there are no strings attached no catches,
we work a lot with Real Estate Investors because our funds are were able to produce the funds very quickly and I’ve course you know being an investor
time is of the essence when you have a deal that you need to get funded and we have a deal if you want to get under contract,
so I would love working with investors and I’m five to seven days is how long it takes 24 to 48 hours were able to get an approval.
[15:46] Okay so if we’re not securing this loan is got to be some other qualifications what are they like.
Well the loans are based upon credit and they’re based upon the personal income.
So we look for 660 minimum credit scores across the board we need 660 or better for all 3 bureaus.
And then we also need to make sure that our borrowers are at least making $30,000 a year.
[16:15] 30000 mm maybe they don’t need to be thinking about investing in real estate anyway maybe in a crowdfund okay alright.
So what kind of interest rate are we talking about.
Interest rate is not a start at about 7% and go up from there and your terms are going to be three to five years.
[16:40] Okay so what’s keeping me from borrowing this money and taking off on the Caribbean vacation.
[16:46] Well you got to being disciplined because you’re actually going to get cash money I’m in your personal checking account that’s one thing that I love about the unsecured funding.
Is that you don’t have to worry about lines of credit and credit cards that will be and could be revoked later.
These are cash loans term loans direct deposited in your personal checking account.
Actually there’s no balloon payment 3 to 5-year terms you can’t other no.
Refinancing so yes if there’s any five years it would all be due but a lot of our investors they are able to.
Pay it all back once they make that big whopping sum on their investment but no
are the payments that you’re making are they interest only are you making a payment that reflects some of the principal 2.
Okay so you are paying this it’s it’s kind of like a car loan but no car exactly exactly that’s what I tell my Borrowers is it in yours a car loan.
[17:53] Okay alright well why wouldn’t everyone want to do this
that’s what I’m trying to figure out we really want to help as many people as we can and we are able to help a lot of investors we just want to continue to get the word out that this is an option for them
have found that people were getting discouraged because they would find a property that they want to fix find a great investment deals when they found out that they had to put down and sometimes 20%.
They didn’t have that money and they be so discouraged so we came up with those responding to help them out and it has been amazing.
Okay and of course after you do that first big deal.
[18:41] You get the money paid back that. That doesn’t mean you have to send it all back over to Soul Source funding you can turn around and use that money on another deal right,
absolutely and we do have a number of borrowers that are able to do two and three Deals based upon what they’re able to get through those or Sunday
yeah I really think that everyone’s goal should be to try to use the money at least three times because that makes it worth all the cost of doing the.
Doing this loan and don’t use it for a Caribbean vacation.
Furniture or rims for your car go ahead and continue to rent the rims know I’m kidding about that too.
You know you know people rent rims did you know that.
You know it doesn’t surprise me I didn’t know that but it doesn’t surprise places that will rent you the rims for your car and you miss a payment as a sure way to get back on your feet.
Definitely all right so.
[19:52] But let’s put this in the real life situation here so he’s going to do a hard money loan and this is the thing that sometimes people kind of
forget they think they’re going to do a hard money loan the typical hard money loans are going to take about 35 to $40,000 just.
Do I cover the down payment and what you have to show in the bank and and you know enough money to service loan that sort of thing.
So what we really need to do first is come to you and.
[20:25] Okay get apply apply and get approved and.
Now if I’ve got $30,000 income last year you’re not going to prove me for $250,000 unsecured funding are you what time we double the income.
So if someone comes to us and they’re making $30,000 a year we can come pretty close.
Sometimes exceed $60
in your underwriting do you take a look at the person’s total debt obligations like that their total debt load to income because you know how people are when they go into the car dealership there question is
how much can I afford when they go to buy a house
how much of a payment can I qualify for and they tend to take themselves to the top of everything they can afford on all these things and so then what.
[21:21] Well we look for no more 50% usage we don’t want to.
Approve anyone for this type of funding if they’re already up to their eyeballs in debt.
So we look for 40 50% usage.
That’s a good candidate or below if there somewhere around 60-70 80% usage in a hundred then we.
I’ll let them know that they need to pay down a few things and we can Circle back and I apply for funding at a later date.
Okay you know this kind of brings up the whole larger question about that but we’ll talk about that some other time but just you know for me personally I recommend and and try to live this out of my life I’m not a big fan of debt.
I’m not completely opposed to it like some other nationally-known radio hosts I do believe that without debt we probably wouldn’t have any skyscrapers or hospitals or major
sporting arenas are buildings and things like that that we all enjoy but.
I am pretty firm in the belief that debt should never be used to buy anything that depreciates in value.
So I wouldn’t use that to buy a car I wouldn’t use debt to buy a new mobile home.
[22:44] And when you put when using debt in real estate you’re you’re using interest at one low rate to make money at theoretically a higher rate.
Right absolutely okay so then I say to people if you can borrow money at 7% and make money at 12% how much money should you borrow.
[23:08] Exactly a billion dollars so Bri.
[23:16] I’m betting when you were a kid you didn’t plan to grow up and be the managing partner principal at Soul Source funding that probably wasn’t on your mind when you were little girl what did you want to be when you grow up,
I wanted to be a veterinarian I can see that all right.
And so what changed your mind about all that well actually I got into banking.
was that a vice president at a bank I worked at a bank for many many years close to 20 years in banking collectively I’m thinking
did you start working at a bank when you were 10,
I know and we’ll leave that there are listening to this you need to watch the Youtube video just to see what I’m talking about but please do go on.
Yes yes so I will come by the way thank you yes Rodger but yeah we are.
Banking was it for me very successful career in banking and I actually have recently had a son he just turned one.
[24:33] I decided to step away from Banking and become a mom and a full-time mom.
And so while I was doing that mean the mom
I wanted to get into a helping people because actually so sore spending is not only a vehicle for Real Estate Investors but it’s also a vehicle for business startup and other things.
A lot of investors but you know we do have a lot of other people as well so that is what my passion is helping people.
And all aspects so I’m really happy with what soul Source funding has been able to do for me as well as the borrowers and.
And other people that were able to help.
[25:19] That’s good that’s good I tell if somebody wants to get in touch with you about this what do they do
its sole source funding. Com they can actually reach me at my email address which is funding at sole-source funding.com or they can call me I’m 6 7 8
Okay there you have it Friends funding at sole-source funding.com or just go to the website sole source funding.com they can go ahead and apply there before they even talk to you.
Absolutely there is an appliance now have there and they can do that and then we’ll review everything and get it going
awesome all right and I hate when you do that figure out somewhere on that website to tell him that you heard about it on the flipping America show.
And yeah let let Bri know that her efforts in the time she took to be with us today or worth it free thank you so much for giving us time out of your busy schedule business owner mom.
Entrepreneur and you know trying to keep your husband in line I know that can be a challenge he’s back over there listening right
Kinko’s by thank you so much we’ll talk with you very soon.
[27:24] Hey you want to learn how to flip houses I want to show you how to flip houses and there’s probably no one in the country better qualified than me to show you I flipped hundreds and hundreds of them.
And I also have some training and degree and experience and education so I can show you how to do exactly what I’ve done hundreds of times don’t believe me.
Head on over to put starter event.com in the meantime Give a listen to Pat caywood my name is Pat caywood and I’m from Cleveland Tennessee and I’ve been.
Doing some flipping since about March of this year and had started with a Nationals program that was very expensive.
I’ve spent today with Roger Blankenship learning about his program and boy do I wish I’d met Rodger.
[28:13] He has a clear concise program and many tools that are going to be very hot.
[28:19] And starting and managing a program and the mentorship and Leadership and coaching that he’s offering our invaluable.
Thank you so much Rodger for your time and sharing what you never know what’s around the corner
but you can be confident that you’ll be ready for whatever comes your way Legal Shield and ID shield look out for you so you can get back to living life
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businesses for a low monthly rates you get comprehensive legal coverage entire law firm of professionals they can help you with a variety of issues and provide advice whenever you need it.
Protected for a number of legal issues and assistance with common legal need just go to Rodger b helps. Com right now to sign up that’s Rodger b.
Dot-com Legal Shield protection for every part of life.
[29:44] And we’re back I am Roger Blankenship and I teach people how to make money in real estate.
[29:49] As promised here comes the top 10 ways to know your real estate seminar is actually a con.
I wish I could get a drum roll but we don’t have the drummer’s in here right now here you go.
[30:04] Now before I go I will say that some of the national gurus really try to give some value.
[30:13] Okay that’s it that’s all I got some of them try but I’m not saying that they do and I’m not saying that they deliver and I’m not saying that even those that deliver some actual useful information are worth what it cost.
Okay number one.
[30:30] Top 10 ways to know that your real estate seminar is actually a con the nationally-known guru is not in attendance.
That’s right you heard the commercials and some nationally-known real estate expert has been encouraging you to come by when you get there that person is nowhere to be seen never attend.
And there’s no way.
This side of Eternity you’re going to ever get a chance to meet that person and talk to them why is this important well alright.
My question would be what who’s experience is being taught the person who standing up there and doing the talking may have some real estate experience but folks this may come as a surprise to you there’s a really good chance that they don’t
they’re just a hired professional speaker with a script and a set of slides.
[31:22] Yeah I know that sounds hard to believe but that happens all the time and even if that person has some experience
you didn’t sign up and go to this thing based on that person’s experience well we all know no one’s ever heard of that person that person is not the famous person and you wouldn’t have signed up to go and still.
There’s a little bit of a bait-and-switch here because is that person going to teach the experience of the nationally-known guru
or is that person going to teach your experience is that person going to teach the lessons that were personally learned by the nationally-known guru and how personal are those lessons to The Hired Gun.
[32:02] Okay follow question who has the experience to be able to credibly answer the audience questions,
oh wait a minute and a lot of these events they don’t really take questions from the audience you know what they tell you they tell you to take your questions make a note of your questions and during the break you can ask them but they don’t want you to ask the question during the presentation,
white or first of all the presenter is giving a prepared talk they’re not prepared to answer questions
probably they can’t answer the question and the worst thing that that could happen for them is to get a question they can’t answer so they just don’t allow it.
[32:43] Okay when you’re sitting there and the national Guru is not present what is the actual experience of the presenter.
And can it be verified I’ve said in these things where the presenter shows you know slides of boom boom boom boom boom all these houses they’ve done and they are just pictures of houses if someone does this.
Gather your stuff and prepare to leave but first get your money back.
All right if the person is showing pictures of houses just a bunch of pictures of houses and they’re not providing addresses then.
They are probably not properties that they have flipped.
Okay when a house a picture of a house is shown that the person up their claims to have flipped you need to.
Get the address make a note of the address and whether you look it up or not act like you intend to but if you have the address of a property you can look up public deed records and find out
some things about the transfer of the property sign number to that.
The real estate seminar you’re attending is a con the name of the company behind the event is vague not mentioned or purposely misleading.
You should always be looking into this because after all who are you taking this advice and you are you getting this training from.
[34:04] I experienced this personally a couple years ago in this was actually the activating event that got me into this business in the first place.
[34:13] Listen to a presentation at a different event about an opportunity to get access to
thousands of properties at below wholesale prices and this is just what I needed I had everything rolling in the business I just needed more deal flow.
Another thing this guy said is he could get you.
[34:35] Money to do your deals at 1% of which of course I know this too good to be true and I had questions about that turns out there was 1% per day for
transactional funding but you know he didn’t mention that he just got everybody all excited and I knew better I knew better I knew he was not really talking about 1% money.
I was kind of excited about the idea that I was going to be able to have access to thousands of properties at below wholesale prices so
after his little presentation and lot of people went running back to the back of the room to sign up for his real estate seminar I ran over to him
and I said what’s the name of the company behind this
and he gave me the name of the company and was company out of Salt Lake City I never heard of before and so I went back and sat down with my phone and begin to research them and they had a do you know that a website that a company they had headquarters they had a building they had all of these things.
And I said okay good enough I need the access to the deals and so I went back and stroke to check for a couple thousand dollars to attend this seminar I went to the seminar and it was the exam example of the worst kind of abuse as it was just awful so.
[35:45] There were no deals no one knew what I was talking about when I said access to thousands of deals below wholesale prices no one there that worked at the event had any idea of what I was talking about
so then I started digging a little deeper who were the person or persons behind this company and.
[36:05] When I.
Dug into that I found it was an individual who has a notoriously bad reputation his own personally branded real estate education training has received so many bad reviews.
[36:19] He had to shut down that business all he did was just reopened that business that abusive practice in a different company name so listen to my friends if
you cannot find the name of the company or if they don’t have a URL that matches their name they don’t have a website and the website is misleading,
they company I looked up for my friend the other day is there’s a company in Minnesota by that name that teaches Realtors how to get their license but that’s no connection with this company.
I called the number and spoke with the young lady she gave me a completely different company name and website website that barely works and makes all kinds of vague promises
you don’t know who’s behind it you don’t know if a single person at that company has ever actually done what they’re proposing to teach you this is not the,
type of thing that you want to be involved in this is a sure sign that this is a kind and you are about to be scammed out of your money
this material can be taught from a curriculum and a PowerPoint but the most polished professional who was also inexperienced.
Cannot truly serve a real estate audience.
[37:29] Number 3 the presenters real estate credentials cannot be easily verified.
Does he or she provide addresses of actual properties flipped like I talked about the are they willing and able to answer questions if you challenge them a little bit how did they respond do they get flustered or do they just you know handle the questions.
[37:50] If the presenter appears to be not legit.
Then you should immediately leave because you’re going to get con later they may not be that great at real estate but I promise you they are great
at the sales pitch and they will have people running back to the back of the room to Fork over
15 20 25 30 35 40 45 $50,000 it happens all the time it happens everywhere across the country and it’s a crying shame that people fall for it but.
The fact that people do continue to fall for it is what keeps these guys in business.
Okay number for the presenter does this presentation more than once more than once a month if the presenter does this presentation more than once once a month there is no possible way.
They are actively fixing and flipping houses we do the flip starter event 2 to 3 times a year the end.
Now next year we have some different plans to do it a little bit more often but in order to do that I’m bringing in help into my real estate business and also helped into the the school but just you know.
[39:00] Relax everybody if you ever go to a flip starter event and it’s got the flip starter event with flipster flipping America in it
I’m going to be there I plan to be at everyone as long as I’m physically able and if anyone else stands up and talks at these events is going to be somebody that I have personally vetted approved and know what they’ve done in real estate
okay but I’m still going to be there.
[39:22] Alright I am getting older and I made me not be able to stand up and talk for 8 hours straight like I used to but I’m going to be there and you can let you know we passed the test on all of these by the way all right
the number 5 early in the presentation usually within the first two hours
they have you fill out a worksheet with all of your assets as possible funding sources for future deals that’s the way they pitch it hey
you know you got more ability to do deals than you think you do because you got assets that you don’t know that you can put to work for you so here’s a worksheet and the worksheets going to ask you how much Equity do you have in your house you could take out a loan
what’s in your 401k what’s the value of your life insurance policy what are your credit cards and where are you on your usage to credit cards all right so they’re going to
make it have you list all of these assets under the guise of
you know later on being able to use this money to take advantage of the deals that you’re going to be able to find just as soon as you get out of here but that’s not what their mother doing it.
The reason they want you to list all their assets is so that you have sitting right in front of you later on proof that you can afford their ridiculous prices.
That’s why they do it if they start to do that just know that you’re in for a con all right number 6.
[40:50] They’ll take the time to teach you how to call your credit card providers and ask for an increase in your limit.
[40:57] The really sneaky ones will put you in a group.
[41:01] And challenge everyone to do this then they’re going to take a break send you out go card call your credit card providers and come back and report to the group
how much you got your credit card limit increase they’ll add that all together and low and behold your group can afford to buy a house on credit cards isn’t that wonderful isn’t that grand and they have a little celebration now this is a sneaky ploy
because you just got your credit card limits raised.
[41:28] With an arbitrary group of strangers most of them you will never see again
and you’re not going to buy a house together with them with your credit card money now that that’s not even to be mentioned again but now you got room on your credit cards to pay for some training
that they’re going to sell you in a little while that’s what it’s about listen folks if people will take valuable time from a real estate seminar to talk to you about getting your limits raised on your credit cards and show you how to do it I mean.
It that that’s brain-dead simple you don’t need training for that but if they’re going to do that just know it’s a ploy alright see it for what it is it’s a trick.
[42:07] And it’s a cond and that’s number 6 number 7 they will make lots of promises to you and they will seem great.
[42:17] A lot of promises about what you’re going to achieve what you’re going to find what you’re going to be able to do and they tend to talk a lot about,
your results and focus on your lifestyle the things that you’ll be able to do.
The places you’ll be able to go the stuff you’ll be able to own right number 8.
[42:43] They have an emotional story of their own financial distress and real estate investing Save the Day.
[42:51] Alright this is how the presenter will usually tie in with the national Guru it’s not always the case
but sometimes this presenter will have an emotional story of how they were in dire distress their credit was shot they were bankrupt that going through the terrible life situation A life-threatening illness or disease are car accident or loss of job or divorce or something like that and they were at the bottom and then they met
fill in the name of the guru and when they learn these principles they turn their life around and it was and I have seen
people work this to the point where they had a group of 70 or 80 people in a room applauding their story all that’s so fantastic that you recovered and it was all due to this look.
That is a huge part of this folks I’ve had people on this show who are telling you that sales are made by emotions not logic and I’ve had my own.
[43:51] A coach as I am trying to do the best I can with real estate training tell me that I’m too logical and not emotional enough
and I’m listening this and I’m thinking okay I get it you don’t look like a motion to play a part and we’ve even had an entire show while not an entire show but half of a show devoted to the idea that you can’t trust your feelings and so forth and so on my emotions do play a role in our lives but it’s not the role of director
they’re not that you’re not sitting in that chair I do believe that logic and good choices should be the director and emotional can be a.
[44:26] A player okay you can be a factor so there’s nothing wrong with emotions but just know that if they are really
really socking it to you with an emotional story that is a sign that there’s a con if you come to flip starter I don’t really have
you know any emotional stories I don’t think well you know my sometimes I get a little emotional about the deals are done and so forth but.
It’s not a story about object distress or anything like that I was not in distress when I got in the business I’ve had more to stress since I’ve been in the business than I had before but.
Anyway let’s move on number 9.
[45:06] They will not let you take photos of the screens or record the event now they’re going to have you know their reasons for it
regarding copyright and so forth and so on and blah blah blah blah blah but you know what happens if you take photos of the screens they become the pieces of evidence for which they can be held accountable.
[45:30] That’s why they don’t want you to take photos of the screens.
[45:34] You know why they don’t want you to record the event they don’t want you to be able to play it back for anyone else to hear later on.
First of all you steal the Thunder you steal their surprise insanely You by doing that you can effectively inoculate
any anyone else who is sitting there who is not wrapped up in the energy in the emotion of that room who listens this they hear it for the con that it is.
[45:59] Okay that’s why they don’t want you to record it so guess what we do it flip starter we encourage you now there is one caveat we we,
we do not want and we will vigorously enforce our
intellectual property we do not want you to take what we are teaching and turn around and fill your own rooms and teach people and because that would not be credible and that would be an example of a kind but we do.
Encourage you to take photos of every screen that we put up
because we are giving you this information for your use and you not going to remember every screen that you see so go ahead and take photos of the screens and you can record the event if you want to because everything in the event is something that we’re proud to present.
Okay if they don’t let you take photos of the screens or record the event ignore what they say about copyright and trademark issues okay what it is what that means is they have something to hide.
Number 10 they want you to sell you another more expensive course.
[47:06] All right now almost every real estate event to go to and a lot of business event you go to.
[47:13] There’s somebody there with something to sell and even at flip starter we’re going to make an offer to a select group.
But we like to do is with flip starter it’s really get your feet wet and see if this is a thing for you
and if it’s a thing for you and you got business experience then we’ll patch on the back and good luck and go for it there are other people who want and need a little bit more guidance
and they want to talk to us about an ongoing mentoring program and we’re happy to talk about,
but our mentoring program is an invitation-only you don’t get in simply because you’ve got the money to pay for it you get in
after a screening by people on our team to make sure that we’re going to work well together that you’re going to do what.
You know we encourage you to do.
And it’s going to be mutually beneficial that’s the only way we want someone to sign up for a program but we’re not there to sell another more expensive course.
[48:12] Our intent is to give you the information that you need the end there is a model out there.
And if you if you know anything about marketing and and today’s marketing techniques there’s the marketing funnel and here’s how it works in this you’ll see this in the real estate business over and over and over there’s a free event.
Or sometimes low cost but it’s a free event and then there is after the free event there is a low-cost event and at the low-cost event they sell you.
The high cost of him.
The free event sells you into the low-cost the low-cost sells you into the high cost and after you have paid the high cost of vent immediately they want to upgrade you to the next level some sort of inner circle or platinum level.
That’s a sign that you’re about to be conned.
Okay folks will be right back and we’ll talk about what to do about this not too long ago we did a one-day flip starter in Chattanooga Tennessee and low and behold one of my old College friends came out to the event.
His name is Peter Faulkner and here’s what he had to say about the event.
[49:22] Peter Faulkner here I send it a one day flip starter training session led by Rod.
[49:29] Amazed to see what has happened in Rogers Live from the last $15 plus years.
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[51:05] Real quick let me review the top 10 ways you know your real estate seminar is actually a con never won the national enone Guru is not in attendance number to the name of the company
behind the event is vague not mentioned or purposely misleading number 3 the presenters real estate credentials cannot be easily verified number for the presenter does this presentation more than once a month.
[51:28] Number 5 early in the presentation they will have you fill out a worksheet with all of your assets
as possible funding sources number 6 they take the time to teach you how to call your credit card providers and ask you to get an increase in your limit number 7 they make lots of promises
number eight they have an emotional Story number 9
they did not let you take photos of their screens or record the event and number 10 they want to sell you another more expensive course if it hits two or three of these points it’s for sure
second and most of the things that I’ve been to hit every single one of these points,
and they are all kinds now I know I’m going to take some heat from some of my good friends who have gone out there and they
fake gurus $23,000 and they will swear that they’ve gotten a lot of benefit from it into that I say God bless you let’s talk about the $50,000 proposition if you want to pay $50,000 for a job that will pay you $500,000 in the future that’s a great deal right I mean because after all,
why do people pay $100,000 for a college education and then sign up for a job that pays in 30 or 40 thousand.
How is that a good deal well you know the hundred thousand is a one-time you know what was for year.
[52:42] It but after that you got a lifetime of making for your $50,000 and so you’ll make all that hundred thousand back and then some right
right well that’s the idea but if you turn it around and you and s52 make 500 a year that’s even better and that’s a great proposition and I will say that some people I know some of my very good friends have
entered into this agreement and made it work.
And to that I say kudos to you props to you you got to learn this information somewhere and if that’s where you choose to learn it that’s fine you go for it,
and God bless you sadly.
[53:20] More than 90% of the people that pay this money do not achieve this why won’t most of the time.
They just don’t do anything with the information they paid so dearly for and but maybe a little less than most of the time these people just do not have the capacity and the right mindset to be small business owners.
They shouldn’t have put their money there in the first place they should have taken the money that they had and invested it possibly in real estate it’s exciting to think about flipping houses and think oh I could do that oh I would love to do that
but you know it’s not just picking colors
it’s a business that you have to run and it’s filled with aggravation and even during this show this morning my phone is blowing up with text messages with some aggravation over a property that we’re working on right now
yeah that’s right while doing the show I’m still flipping houses okay so look
are some things if you’re looking at some sort of marketed real estate education program whether it’s 2 or Rio or whether it’s something you heard about on the radio here some things I want you to check out okay I just got four recommendations for number one check the name of the company.
Look at their website see what they emphasize see if they’re talking about lifestylers are talking about information see what they actually do okay just check the name of the company what if you don’t find the name of the company.
[54:45] Are you at that point I would say just rule it out okay if this is not a company that is known to be involved in real estate,
don’t go alright save yourself the time the information they’re going to provide there you could find in 5 minutes on BiggerPockets connected investors or flipping America network.com.
[55:02] Okay number to Google the name of the company followed by the word reviews this may not be helpful but it can be.
The company that I researched for my friend the other day once I found the actual name of the people involved which took a little while.
They had over a thousand hits on a website called rip off report,
Ripoff Report is not all that they can’t always be believed anyone can say anything there and if you know the people that are being talked about can’t necessarily respond Ripoff Report is an example of.
Kind of not really fair thing but.
So I would expect that anyone of any note is going to have a few screen or 2/3 or 1/2 dozen detractors and their people out there.
[55:50] Let’s face it you know the old saying half the People You Meet are dumber than average well there’s some people out there that are pretty much complete idiots,
who believed that if they pay their money something magically happens and when things don’t magically happen they blame the people they paid their money to and so you’re going to find a few people complaining about just about anything
but a thousand a thousand reports on Ripoff Report that’s a lot and that’s that probably should.
Make you sit up and take notice okay number 3 asking online forums go to BiggerPockets go to Connected investors look for some Facebook groups are Google Plus groups are even email.
Questions at flipping America network.com what have you heard about it in the name of the trainer
and you know I will admit we here at flipping America haven’t heard of every single person that’s out there doing real estate and we don’t have an opinion about every single person that’s teaching real estate but.
We can ask around for you and we’re always glad to know the name you know and there are people
that I had on the show like Ramon tookes for example a wonderful marvelous guy
full of integrity and truth and I’ve never seen anything in him other than good things and I’ve been to his flip ology event good content right on.
[57:14] Ramon keep doing it and so even though Ramon is teaching people real estate and then somebody will think of them as a competitor I don’t think of them as competitor he’s got people he reaches I’ve got people I reach and we both do so with all the Integrity we can muster so that’s great
number for at the event get to presenters full name find out where he or she is from.
Notice many property addresses as you can during the event check those addresses online for ownership and transfers of ownership
look for an entity that owned the property for four to six months in the past 2 years later on if you get a chance to speak with her presenter casually drop the name of the entity you found and see if you get a glimmer of recognition.
If your condenser line just for fun make up an entity name or use your own entity if you have one and ask them if that was the entity that bought you know 123 Main Street or whatever
and see if they say yes yeah catch him red-handed.
[58:11] Probably what you’re going to find is these presenters they’re doing real estate this weekend next weekend is cryptocurrency in the weekend after that.
They’re doing a motivational seminar they’re just professional speakers folks so pay attention to what’s going on out there.
And remember it’s not all bad there are some good operators hey we’re at a time that’s what the music means we’ll see you soon.
[58:50] Tom Olson was on her Show recently and he says learn a lot so you can have a lot so you can give a lot.
I love that quote and that quote is brought to you today by the foundation for Renewal working together with communities across our great country bringing lasting impact in life change find them on the web at renewal fund. Net.
And as always your gifts are tax-deductible and very much appreciated.
[59:13] Will see you soon folks coming up next time Chantel Owens and tax liens live in studio.
[59:31] You’ve been listening to flipping America real estate investing for everyone if you have any questions about real estate send them two questions at flipping America network.com.
Listen three times a week on stations across the country or on the flipping America app free in the App Store.
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