Buying & Selling Real Estate
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback
Section 8 Tom Cruz
I’m needing advice has any one taken the Tom Cruz section 8 program if so was it worth the investment thank you
It's 5K and the guy is cringe and by many accounts a slumlord. He uses rental cars, boats and houses to give him credibility he does not otherwise have as he never shows proof of ownership. It's the basic formula for selling an online course that teaches you nothing you cannot learn on your own. Section 8 housing is not a secret but it is plagued with problem tenants, lawsuits and low profit margins. Even Tom's "empire" is 700+ properties that he says bring in 600K/month. That equals less than 1k per property. Take into account your mortgage, a property management company and other expenses and you are lucky if you net $300.
Now take short-term AirBnB properties like one of mine in Miami. It lists for an average $250/night which brings in $7500/month. I use $2500 to pay expenses and save what's left in a fund for repairs etc...So I can count on approx 5K/month in gross income. Not one lawsuit, the guests are respectful of the place and it's easy to repeat the formula in multiple real estate markets across the country. Not to mention the tax benefits it allows.
His course will cost you 5k plus the downpayment of say $2500 on a property that likely needs work before it's ready for inspection. Forget the course and put that money on a quality vacation short-term rental. Then rent some exotic cars, a yacht, a mansion and some hot women so you can sell this formula online like Tom does. Boom multiple income streams.
Caveat emptor....his 5K course times 10 suckers a week means he can gross 200K per month just on a scam that anyone can learn how to do.
@Avery Oblepias in general, paying for something you can learn online, is really paying for convenience and discipline.
It's no different than paying for a personal trainer at a gym.
Regarding S8, it's a pretty basic program that $5k seems a bit excessive for.
Maybe, $1500?
You can pretty much learn everything you need to know about S8 within 2-4 hours online!
Quote from @Avery Oblepias:
I’m needing advice has any one taken the Tom Cruz section 8 program if so was it worth the investment thank you
It is a scam. He charges 5k for info you can get from any realtor who is familiar with Section 8 housing or on Google. His videos use rented props to make it look like he's some guru but he is bottom-barrel scum who preys on the vulnerability and ignorance of people. His reputation in the real estate world is garbage and he loves to say he does not trade time for money yet to find, purchase and renovate over 700 properties, deal with Section 8 tenets, time spent dealing with lawsuits etc he is doing exactly that. Ask him for proof of his success by being transparent with his car titles, deeds and tax returns and his default is to insult you while touting his amazing lifestyle. So I saved you 5k and read my post above on why short-term rentals are a far better investment without the headaches of going to court to recoup damages or fight claims of being a slumlord (which by all accounts he is)
Quote from @Michael Smythe:
@Avery Oblepias in general, paying for something you can learn online, is really paying for convenience and discipline.
It's no different than paying for a personal trainer at a gym.
Regarding S8, it's a pretty basic program that $5k seems a bit excessive for.
Maybe, $1500?
You can pretty much learn everything you need to know about S8 within 2-4 hours online!
Here is everything you need to know about S8 housing. Eventually, you will be sued and end up in court. You will have tenets who destroy your place, use it as a trap house or drug den and will accuse you of being a slumlord no matter what. Sounds fun. Right? Oh wait the profit margin is garbage too. (700+ properties yielding 600K is less than 1K/property before expenses) Lastly, many property management companies refuse to manage S8 housing for the above reasons so good luck.
I have never paid for a course but spent $15 on a book about Airbnb rentals and it's simple math. Buy a property in a high-profile vacation destination with a few thousand down. Rent said property on Airbnb bc short term profits are more than long-term leases. Use your revenue to pay the mortgage, property management company and expenses then pocket the rest and repeat.
No one should pay for readily available info that you can find on your own. Realtors, websites, YouTube and books are all low cost. But yet Tom is making a killing convincing you he has the secret to wealth when the secret is just doing your own research and putting it to work.
He is different than a personal trainer bc at least a trainer cares about your results and isn't lying about their own.
So this is what the gurus won't tell you bc they need to sell their courses and are very good at manipulating you into believing you can't do it without their secret info. Get some Airbnb's in your portfolio and build your net worth and income then branch into apartment/condos/hotel investing where the occupancy rates are 85% or higher. It's an asset that provides stable predictable income as well as appreciation and tax benefits next step buy yourself a Bently and celebrate.
Quote from @Garrett Cuppels:
It's 5K and the guy is cringe and by many accounts a slumlord. He uses rental cars, boats and houses to give him credibility he does not otherwise have as he never shows proof of ownership. It's the basic formula for selling an online course that teaches you nothing you cannot learn on your own. Section 8 housing is not a secret but it is plagued with problem tenants, lawsuits and low profit margins. Even Tom's "empire" is 700+ properties that he says bring in 600K/month. That equals less than 1k per property. Take into account your mortgage, a property management company and other expenses and you are lucky if you net $300.
Now take short-term AirBnB properties like one of mine in Miami. It lists for an average $250/night which brings in $7500/month. I use $2500 to pay expenses and save what's left in a fund for repairs etc...So I can count on approx 5K/month in gross income. Not one lawsuit, the guests are respectful of the place and it's easy to repeat the formula in multiple real estate markets across the country. Not to mention the tax benefits it allows.
His course will cost you 5k plus the downpayment of say $2500 on a property that likely needs work before it's ready for inspection. Forget the course and put that money on a quality vacation short-term rental. Then rent some exotic cars, a yacht, a mansion and some hot women so you can sell this formula online like Tom does. Boom multiple income streams.
Caveat emptor....his 5K course times 10 suckers a week means he can gross 200K per month just on a scam that anyone can learn how to do.
finally a guy who knows this guy and calls him a scammer haha. I've always wanted to see if he's on title and owns his home or what the story is. on another note, where is your airbnb in miami? single family or multifamily?
#1 Multi-Family and Apartment Investing Contributor
- Rental Property Investor
- St Augustine, FL
- 1,757
- Votes |
- 2,159
- Posts
#1 Multi-Family and Apartment Investing Contributor
- Rental Property Investor
- St Augustine, FL
One things for sure, he is everywhere. His ads pop up all the time on my feed. If he can help you implement what he's teaching you, and there is a community, then I would think the investment is worth it.
Would love to hear if you join and your experience
Gino
Quote from @Robert Ellis:
Quote from @Garrett Cuppels:
It's 5K and the guy is cringe and by many accounts a slumlord. He uses rental cars, boats and houses to give him credibility he does not otherwise have as he never shows proof of ownership. It's the basic formula for selling an online course that teaches you nothing you cannot learn on your own. Section 8 housing is not a secret but it is plagued with problem tenants, lawsuits and low profit margins. Even Tom's "empire" is 700+ properties that he says bring in 600K/month. That equals less than 1k per property. Take into account your mortgage, a property management company and other expenses and you are lucky if you net $300.
Now take short-term AirBnB properties like one of mine in Miami. It lists for an average $250/night which brings in $7500/month. I use $2500 to pay expenses and save what's left in a fund for repairs etc...So I can count on approx 5K/month in gross income. Not one lawsuit, the guests are respectful of the place and it's easy to repeat the formula in multiple real estate markets across the country. Not to mention the tax benefits it allows.
His course will cost you 5k plus the downpayment of say $2500 on a property that likely needs work before it's ready for inspection. Forget the course and put that money on a quality vacation short-term rental. Then rent some exotic cars, a yacht, a mansion and some hot women so you can sell this formula online like Tom does. Boom multiple income streams.
Caveat emptor....his 5K course times 10 suckers a week means he can gross 200K per month just on a scam that anyone can learn how to do.
finally a guy who knows this guy and calls him a scammer haha. I've always wanted to see if he's on title and owns his home or what the story is. on another note, where is your airbnb in miami? single family or multifamily?
That was just one of my properties and I now have multiple in different vacation locations. Midtown and Brickell in Miami are the hot spots for the city. But I am involved more in multifamily and hotel resort investing now.
Quote from @Garrett Cuppels:
Quote from @Robert Ellis:
Quote from @Garrett Cuppels:
It's 5K and the guy is cringe and by many accounts a slumlord. He uses rental cars, boats and houses to give him credibility he does not otherwise have as he never shows proof of ownership. It's the basic formula for selling an online course that teaches you nothing you cannot learn on your own. Section 8 housing is not a secret but it is plagued with problem tenants, lawsuits and low profit margins. Even Tom's "empire" is 700+ properties that he says bring in 600K/month. That equals less than 1k per property. Take into account your mortgage, a property management company and other expenses and you are lucky if you net $300.
Now take short-term AirBnB properties like one of mine in Miami. It lists for an average $250/night which brings in $7500/month. I use $2500 to pay expenses and save what's left in a fund for repairs etc...So I can count on approx 5K/month in gross income. Not one lawsuit, the guests are respectful of the place and it's easy to repeat the formula in multiple real estate markets across the country. Not to mention the tax benefits it allows.
His course will cost you 5k plus the downpayment of say $2500 on a property that likely needs work before it's ready for inspection. Forget the course and put that money on a quality vacation short-term rental. Then rent some exotic cars, a yacht, a mansion and some hot women so you can sell this formula online like Tom does. Boom multiple income streams.
Caveat emptor....his 5K course times 10 suckers a week means he can gross 200K per month just on a scam that anyone can learn how to do.
finally a guy who knows this guy and calls him a scammer haha. I've always wanted to see if he's on title and owns his home or what the story is. on another note, where is your airbnb in miami? single family or multifamily?
That was just one of my properties and I now have multiple in different vacation locations. Midtown and Brickell in Miami are the hot spots for the city. But I am involved more in multifamily and hotel resort investing now.
yes they are on fire and Wynwood I'm in brickell
Quote from @Gino Barbaro:
One things for sure, he is everywhere. His ads pop up all the time on my feed. If he can help you implement what he's teaching you, and there is a community, then I would think the investment is worth it.
Would love to hear if you join and your experience
Gino
I called him out as a fraud and asked for proof. Instead, he insulted my profession as an ortho surgeon which indicates to me I was right about his videos. His IG videos are low-budget and I have seen grade schoolers make better vids. In Miami, we all know how people use rented cars, boats and houses to give themselves credibility. 5k for me is pocket change but I never like to spend money on a losing investment. The info he claims to have is easy to find on the net or in a book but why deal with Section 8 housing problems when there are so many other investments that are nearly hands-free? Time is money and I prefer spending my time with my fam and friends instead of problem tenants and legal cases. Use your 5k and find a decent 1-bedroom condo and put it on AirBNB. Build your portfolio as your knowledge and wealth increase. When it comes to AirBnB I have found its location, number of beds then amenities like kitchens and outdoor spaces that attract quality guests and demand higher prices. I literally saved you 5k with just that info.
Quote from @Robert Ellis:
Quote from @Garrett Cuppels:
Quote from @Robert Ellis:
Quote from @Garrett Cuppels:
It's 5K and the guy is cringe and by many accounts a slumlord. He uses rental cars, boats and houses to give him credibility he does not otherwise have as he never shows proof of ownership. It's the basic formula for selling an online course that teaches you nothing you cannot learn on your own. Section 8 housing is not a secret but it is plagued with problem tenants, lawsuits and low profit margins. Even Tom's "empire" is 700+ properties that he says bring in 600K/month. That equals less than 1k per property. Take into account your mortgage, a property management company and other expenses and you are lucky if you net $300.
Now take short-term AirBnB properties like one of mine in Miami. It lists for an average $250/night which brings in $7500/month. I use $2500 to pay expenses and save what's left in a fund for repairs etc...So I can count on approx 5K/month in gross income. Not one lawsuit, the guests are respectful of the place and it's easy to repeat the formula in multiple real estate markets across the country. Not to mention the tax benefits it allows.
His course will cost you 5k plus the downpayment of say $2500 on a property that likely needs work before it's ready for inspection. Forget the course and put that money on a quality vacation short-term rental. Then rent some exotic cars, a yacht, a mansion and some hot women so you can sell this formula online like Tom does. Boom multiple income streams.
Caveat emptor....his 5K course times 10 suckers a week means he can gross 200K per month just on a scam that anyone can learn how to do.
finally a guy who knows this guy and calls him a scammer haha. I've always wanted to see if he's on title and owns his home or what the story is. on another note, where is your airbnb in miami? single family or multifamily?
That was just one of my properties and I now have multiple in different vacation locations. Midtown and Brickell in Miami are the hot spots for the city. But I am involved more in multifamily and hotel resort investing now.
yes they are on fire and Wynwood I'm in brickell
Exactly except prices for the first-time investor are high. There are other vacation locations most people might not know about. Like Broken Bow Lake in OK that are value-priced and ready to be rented. International rentals are cheaper too to purchase. South America and Central America are good examples. I can't give away all my locales but it's not hard to find them if you search around and ask people. I mean people in the MidWest need to go some place if they can't come to FL. LOL
According to Tom Cruz hereafter referred to as DB, I wasted 31 years of my life training to become an ortho surgeon but the DB doesn't understand some people enjoy their jobs and are passionate about helping other people. I retired from ortho in less than 10 years bc of solid investments but he will be forever the loser DB with a garbage reputation peddling info you can easily find on your own. No real talent, no skills, no friends that are not being bought. All lies and manipulation of people who do not see through him. It's easy to see why he is so insecure. You actually need intelligence to become a professional and dedication. He has neither.
Quote from @Garrett Cuppels:
Quote from @Gino Barbaro:
One things for sure, he is everywhere. His ads pop up all the time on my feed. If he can help you implement what he's teaching you, and there is a community, then I would think the investment is worth it.
Would love to hear if you join and your experience
Gino
I called him out as a fraud and asked for proof. Instead, he insulted my profession as an ortho surgeon which indicates to me I was right about his videos. His IG videos are low-budget and I have seen grade schoolers make better vids. In Miami, we all know how people use rented cars, boats and houses to give themselves credibility. 5k for me is pocket change but I never like to spend money on a losing investment. The info he claims to have is easy to find on the net or in a book but why deal with Section 8 housing problems when there are so many other investments that are nearly hands-free? Time is money and I prefer spending my time with my fam and friends instead of problem tenants and legal cases. Use your 5k and find a decent 1-bedroom condo and put it on AirBNB. Build your portfolio as your knowledge and wealth increase. When it comes to AirBnB I have found its location, number of beds then amenities like kitchens and outdoor spaces that attract quality guests and demand higher prices. I literally saved you 5k with just that info.
hahaha I like this guy we need to meet in miami
Thomas Cruz is the legal owner of a mansion in North Miami per the Miami Dade county property tax records. He purchased it for about $17,500,000. He claims he put 10,000,000 down and has an FPL bill of about 9,000/m for his 4 stories and yacht. He does offer a $4,000 bundle by text after two weeks of not signing up on a Wednesday during his live webinar jam. He does answer questions on his wednesday IG and Tik Tok live videos. He said his credit rating is 760. He stated that his GF Rachel has her own corporate job earning six figures. He usually posts her on a bikini, push up bra, breast augmentation whatever. She doesn't have a speaking role. Extremely sexist. The problem with Tom as a mentor is he is new money arrogant who does unethical things. He announced on IG stories that a morbidly obese tenant had to be removed by paramedics by cutting a huge hole in the front of the house. That is HIPPA privacy protected. He and his 9 property managers text awful things about tenants. They make disparaging remarks. Like mocking nick names. He stated than an 80 year old woman will die off in 5 years TTD time till death. She prepays her rent at 13,000 per year. He was counting on her dying. I mean that is as low of a sociopath as it gets. Wishing - betting death on your tenants? I think he should be booted off the Section 8 program for ethical violations. He has no respect for people. He calles them "poor people" "economically disadvantaged" He threatened to evict them if they don't rent his appliances like used ceiling fans. He really is only rich because he lacks empathy and might be a psychopath. He is very emo immature for his age of 33. He is disrespectful, had over 30+ liens and city fines from failing to maintain his properties. One mother of a newborn was without heat on a house a charity rented for her. She had no power in the winter. It's poor property management. Contractors stated that he does surface level cosmetic fixes as fast as possible to pass inspections. A nice portfolio is 10-40 properties, and yes you should drive by your own assets to check for broken windows. Many investors invest in the same city to make it easy to manage. With 7 properties paid off you can earn 100,000 a year tax free. You don't need him and honestly, just listen to him for free. Don't pay because he really isn't a good role model. He isn't married, he doesn't have kids, he doesn't have family values. Materialism is his love language. He is arrogant and generates ill will. Don't pay for a coach that has numerous warning web articles from cities. He doesn't have a good reputation. I don't care about his cars - those are toys. He is very capitalistic and has no real corporate values. You are better off talking to real live investors in your area. How do you find them? Look at some listings that are for rent and ask questions. You can pick their brain and they will mentor you for free. Tom Cruz is not the best coach. He claims to assist you with buying 5 properties, but he is on social media all day long, he has an assistant text. He changes his numbers a lot also. One day he says he buys 5 new deals a week, next day says 7. I know that varies but he just has selective empathy. He mocks people with disabilities, and is sarcastic about taxpayers. I would like him to be cancelled. Nobody needs 10 luxury cars and his personal chef drives a bicycle to work. It's just a greedy guy preying on people who don't have leadership. You can save your $5,000, put that in a CD earning 5% a year, and do what you need to do, by yourself. Most hard money loans will not cover rehab costs. Call lenders in your area, build your own list and take notes of their criteria. Listen to his free content, but don't feed the greed. He has an offshore trust. You can ask him questions on his Wednesday afternoon lives on IG. I wouldn't spend too much time trying to be like him. He is the kind of personality Floridians roll our eyes at. Rude, full of themself, flashy, narcissistic, and doesn't give back. He said he took a helicopter on vacation to avoid "unwashed people". It's pathetic and there is a reason he is not friends with the bigger figures like Pace Morby, Grant Cardone, etc. People will distance themself from him because his mouth is borderline - harassment of tenants. I think he is over leveraged to a 90% debt ratio. He is at risk of assassination. He announces his live presence at his home office right where boats can drive by on the water, and it's not safe. You should not be a sitting target. He isn't rich enough to have a body guard and a security professional. He wastes money on toys to appeal to young people. Middle aged people have aging parents, and we can't learn from clowns. His subscribers are only succeeding at 1% of enrollees, and they have a bank roll to invest. For someone starting out, use a first time home buyer grant, house hack, and just hoard cash. Work on your credit, and look for a deal that works on any exit strategy. Section 8 is a nice program, but you will get low IQ tenants who don't know how to clean properly. They will hose down the fridge and break the electrical in it. You have to educate them. So, no, don't buy anything from Tom Cruz. Don't feed his greed. He will just spend your money partying in exotic locations to show off on social media for people he cares nothing about. He is superficial. His NC home sold for 2.4 million. That's it. He copies trends, isn't an original thinker. His own mom called him "crazy" for giving her 25K on mother's day, and to avoid taxes said it was all cash, when the IRS only allows 16K tax free. He is just unethical. He calls section 8 tenants demeaning language. He has a degree in finance and business and is just a capitalist out for profit. His methods are unsafe and unwise. His own email is spelled incorrectly on his website "tim@tomcruz..." He is sloppy.