Hello To Everyone Today:
I wanted to post something today regarding something I have been seeing alot of in my email. I blame myself in a way, but did not foresee the outcome.
I have been getting alot of emails from individuals who are making outrageous claims, in the area's of short sales.
In the interest of not writing a book here, I will be brief. I am always looking to educate myself on subjects in real estate that I do not know alot about.
Short sales is or was one of those areas, I should say. I responded to a free ebook ad, from someone I do not know. I will not mention his name. He claimed to be doing well with this area of investing. Never at the front end, did he say how well, but did say well enough to be able to invest full time.
I provided my email address and away it went, the beginning of nonsense. I got the ebook and it was like 49 or 55 pages, and the information was a good primer on the subject of residential short sales, it had a little bit of commercial in there as well.
Next came the nonsense and it has not stopped yet and I am okay with this, as I need a good laugh at the end of a day from time to time.
The next email was about just how well he is doing. He said he does a minimum of thirty short sale deals a month. I emailed for clarification as to whether he originates thirty deals a month or closes thirty deals. He wrote back and said, he closes thirty deals a month minimum and puts $100,000.00 a month in his bank account. I asked where he lives and stupidity set in, he gave me his home office address.
He lives in Florida and I have a residence there as well, so I drove to his address. I expected to see a nice home, nice cars, as anyone would.
I seen shanty homes in New Orleans worst neighborhoods better than this persons home and I saw a ten year old car in the driveway and it was not a luxury brand. So I knocked on the door and his mother answered and I asked if this guy was home. She said he would be home in a hour and thirty minutes. I said from his office and she said what office, he works for a day labor service.
My point in telling this story today is this. Watch out for the so called Guru's, who talk the talk and cannot back up what they say.
There are so many people selling real estate information in the marketplace today, most want large investments from people, it usually starts at $997.00 for someone to tell you their secret and to help you make money as well.
I have been doing this awhile and there are no secrets in real estate investing. There is a right way and a wrong way, but no secrets. Short sales for example, there is only one way to put together a short sale package for the lender, not some secret words on paper to get the deal.
Watch out for these so called Guru's.