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Updated over 1 year ago on . Most recent reply

User Stats

18
Posts
11
Votes
Mathew Morford
11
Votes |
18
Posts

Is this coach legit or scam

Mathew Morford
Posted

Hello everyone,

I am new to real estate. I am trying to learn wholesaling and I am still learning. I know there is a lot of tools here to utilize, but I still wanted to try to learn from someone first so I can get started. 

That being said, I was approached by an individual on facebook who is a coach. He told me that he wholesales "administrative land splits" and then re-sales the other half for an even greater profit. I have heard of this and I know that part is real, but I am just getting this feeling that he is just trying to take my money. 


Here is the deal he is trying to get me to do. $500 up front, he has hours of videos to provide lessons on wholesaling and administrative splits. He also wants me to go 50/50 with him on my first 4 deals. After that, I can either continue working with him as a partner, or I can go solo. He said he will teach me everything I need to know and he will give me all the tools I need to find the deals and make money.

Honestly, that sounds great and all, but I haven't signed any contract, he has already sent me some videos to watch, and he wants me to pay him with cash app. Again, in today's age, I get that cash app is easy, quick, and convenient. He also wants me to send it to his wife's cash app which is why this has thrown me off. Once he told me this, I started really digging into his background. He told me that he has been doing this for over 30 years, but I don't see any pictures or posts of anything that would prove that. He also told me that he did a deal recently that landed him a $70k payday that he split with a builder/buyer (I could have miss understood that one). 


Again, this is me judging a book by its cover, which I try not to do, but I am just trying to get started and I am not trying to be taken advantage of. Does anyone think this could be legit, or should I just put my money else where? 

Most Popular Reply

User Stats

254
Posts
229
Votes
Erin Church
  • Real Estate Agent
  • North Augusta, SC
229
Votes |
254
Posts
Erin Church
  • Real Estate Agent
  • North Augusta, SC
Replied

Ask him for the names of 3+ attorneys he has used (or title companies depending on state) and talk to them about him. Confirm that he's been either double closing or getting an assignment fee. If he's double closing, it shouldn't be that hard to find a trail of his LLC.

Ask for students he's had from 3 or 5 years ago. Chat with them. Find out what attorney they used and what the addresses were. Call and confirm with the attorney/title company that they handled that address and then see if they can confirm the student and mentor if it was one of the "split" deals (if it was one of their first deals).

  • Erin Church
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