Tom Krol as a wholesaling coach

[Roy K.]

With all the negativity out there about coaches and programs I wanted to take a second to say something about Tom.

I totally love this guy!!! Tom totally changed my wholesaling operation in 4 months.

He broke it down to simple-to-follow steps, didn’t leave me hanging or let me get away with anything. I liked how he says “over-education is a cancer” because I was learning as much as I could before taking action. 

Whether you're somewhat experienced or just learning the ropes, Tom is the real deal, getting large assignments almost every week now. I had to say something, since by far I have gotten the most the fastest from Tom’s group coaching.

Thanks Tom

[Tom Krol]

BAM! WOW, thank you Roy! Honored to get a testimonial like this! No way to be a great coach without great clients! 

[Bill Gulley]

Okay, testimonial by a 20 post member, not doubting a word of it, but guys, really.....

BP is a social networking site, under the radar marketing is caught and most often brought up on the screen. Credibility is earned here by contributions to the forums or blogs giving specific advice or sharing knowledge, that is what will influence others. 

We have had tons of gurus, coaches, mentor programs pop up on BP with testimonials from brand new members advancing services offered. I (and we, I'm sure) can be very skeptical of third party influences being used to market someone, it happens a lot. Some of the tactics used on other sites may work there, but not so much here. 

To get passed that, demonstrate knowledge through your comments. Posting romantics, fascinating stories, touting success and puffing won't really cut the credibility gap. 

I'd encourage you to teach and give solid advice. advocating good real estate practices. Develop your presence here and you can have access to a lot of business after you are established.

Not speaking for others, but you are certainly welcomed to the BP community!   

Actually, I'm trying to help you, not being critical. I can tell you too, that "wholesaling" can get kind of touchy here in the compliance areas and marketing, not against wholesaling a deal at all, it can be a tough area to deal in. Good luck!  :)  

[Roy K.]

First of all, it doesn't really matter how many posts I have or don't have. There are tons of  people looking for solid mentors and coaches all the time, and there are a lot of charlatans out there. 

I don't need to prove anything to you, was just excited to have this much progress in my business thanks to this amazing coach. 

There's no problem with compliance for wholesaling. It's legit and it works, and frankly I'm glad there are people doubting it and not doing it, so there's a lot more working space for those of us hustling and actually doing it. 

Saying you're not critical and then criticizing is futile, accomplishes nothing and is certainly not helping anyone. All in all, why post such skeptical negativity? What has your post accomplished? I just don't see why people have to be so critical and negative when presented with good things. 

By letting your personal experience dictate these kinds of criticisms, you're not helping anyone, rather this sort of negativity just pulls others down, when they really need someone to lift them up. This sort of negativity will never allow you to accomplish anything entrepreneurial, and I just don't see the value of it, especially not in these types of support forums for people in this business. It's tough out there, and we all need encouragements. We have enough negative comments about this business all around us, we don't need any more of it here.

[David Rundle]

I'm happy to see you found a mentor. I found one at my local REIA and he is one of the largest reasons that I'm successful today.

Take action, get results.  Keep overcoming. 

[Russell Ponce]

Bill doesn't need me to defend him but it's the hyper - sensitive BS detectors that keep BP's integrity off the charts. 

That being said, Tom has, on two separate occasions, taken his personal time to help me and I never felt that I was being sold. The podcast series he did with his brother should be required listening for young deal finders. For what it's worth he just seems like a good guy. 

[Steven J.]

I'm with @Bill Gulley on this one. I'm a little skeptical of someone with <100 posts while Bill is a tried and true contributor and expert. 

Now, I can't say that these aren't true confessions of successful investors, but I know that I need to vet them out a bit more than some of the other contributing investors on BP. Its a great community that offers plenty of free insight and I've gained plenty from it. I'll make sure to check out free information when I can but when it feels like a sales pitch it feels like a sales pitch.

[Theo Davis]

Roy, I would like to second your post.  Tom has helped me scale my wholesaling business from a $5K a month business to a $15K a month business.  I am still a newbie as well, but he is one of the best, if not the best, coach in 2015 for Wholesaling Real Estate.  He literally just help me quit my job.  Just put in my 3 weeks notice yesterday.  I will report back in a year to let you know my progress. Hopefully I'll be well over 100 posts by then and may have a little more credibility, if not, just know that I am busy taking MASSIVE action to produce Life and Financial Freedom!

[Pedro Oliva]

Nice to see actual reviews. Ive been wanting to get a coach to help me scale and move my business forward. Does he help with subject-to's, lease-options, and other creative deal structures or is this stricly wholesaling? I hope to have something set up after my next deal so I could afford it :)

[Bill Gulley]

@Pedro Oliva

Is $20.00 too much for a RE text book and asking questions on BP?

I have no idea about Tom's abilities, so I can't comment on them.

Need to look to Tom as any other new member, the advice has been given concerning this forum, that should be sufficient. 

I see that the  original title of this thread has been changed and moved as well, after my post above. :)

[Pedro Oliva]

@Bill Gulley not at all, I've actually have and read quite a few of them and has helped me do a few deals. It's just to a point where I need to expand and more direction.

[Mike Osterman]

@Roy K.

GENERAL LICENSE ISSUES

Q. When do I need an Illinois real estate license?

A. A person needs a real estate license if they provide assistance which is in any way intended to result in the sale or lease of real estate. The definition of the word "broker" under the Act provides 11 examples of the types of "assistance" that require a real estate license. Included are: representing clients in the negotiation of real estate sales contracts or leases, and issuing advertisements for the sale, purchase or lease of real estate.

The assistance must be provided for others. Accordingly, a person who buys, sells or leases real estate as a "principal" does not need a real estate license. Compensation is required. Therefore, a person who provides assistance on a real estate transaction to a friend or relative, without compensation, does not need a license.

http://www.idfpr.com/faq/dpr/realestatefaqs.pdf

You can act as a"Principle" which I get, but negotiation of sales, contracts, advertising, purchase of RE is where the rub is. 

I too was irritated by @Bill Gulley and when I first mentioned assigning and wholesaling. If I wasn't serious I may not be such an advocate, he's not trying to bring you down, rather support your continued success.

[Bill Gulley]

Pedro, then start reading the applicable forum threads, Sub-2, L/O, seller financing and ask questions. Once you know such things as the bundle of sticks, titles, types of liens, transfers of interests, settlement requirements and basic loan requirements for buyers, you should be able to devise a path to take based on circumstances, not just taking methods and sticking them to just any property.

Mike, I'm ignoring Rob K.'s rant, not him, but his previous rant, he's new and still unaware, that's not an insult, but it's obvious he has a lot to learn yet and there's nothing wrong with that.

However, I do realize that some of my posts can "sting" a little, the intent is not to intimidate anyone, but to put emphasis on matters that have greater importance. I don't type a book to make a point, so I may sound a little short, the brevity comes from having to type a post, if we were speaking I'd have an opportunity to give greater detail. 

If you're going to be in RE, you need thick skin anyway, better to grow it here than with someone on some deal. :)

[Brian Gibbons]

Originally posted by @David Rundle:

I'm happy to see you found a mentor. I found one at my local REIA and he is one of the largest reasons that I'm successful today.

Take action, get results.  Keep overcoming. 

 David I checked out your site and I love it! The spokesperson is awesome. Keep up the good work:)

[David Rundle]

Thanks @Brian Gibbons

 I spent a long time designing the website 

[Ben McCall]

Tom is AMAZING. Totally down to earth and very honest. I'm taking his course now and I'm very close to making my first deal. So very excited!

[Lisa E.]

This thread is interesting. You do have gurus and their supporters who peddle their wares and the most common response I see to that "has anyone actually done/closed a deal" with assistance from said guru. Here you have folks who are actually sharing their experiences of getting deals done and they're shot down anyway. 

A lot of the more experienced investors say read a book, all the information is here, you can google it for free. It's great to be at that level where you have all the time to do that. As someone who is in school and working, I appreciate those who share time and cost efficient ways regarding their hustle.

Appreciatively,

Lisa

[Michael Quarles]

I have more than 100 posts so if I may...

About @Tom Krol 

Tom is way tooooooo COOL.... And although I my real estate knowledge is greater than his I learn something from him everytime we talk. Hard not too. 

Here is my take away... If you're even remotely considering a coach he should be on your short list. If you want unabashed motivation he should be the only one on the list. 

And his brother, Todd Toback, OMG... 

When you get to know him as a man, what he represents and what he offers, the decision is easy... A total class act.

Just my 2¢

[Darrin B.]

I don't post a whole lot (do more reading) but I felt compelled to write when I read Roy’s post. 

I want to throw out a HUGE endorsement for Tom Krol as well. I met Tom a few months ago and was immediately struck by his energy, heart and knowledge on all things Wholesaling. I was so impressed that I invited him to be a guest on my Podcast, Big Wig Nation.

Keep in mind that I don't just invite "anyone" on my Podcast. I've had folks like Darren Hardy, Gary Vaynerchuck and Jack Canfield on my show, so that should give you an idea of the caliber of guests I speak with.

As I got to know Tom, I realized that besides being an overall great guy, he actually "cares" about what he does (he genuinely LOVES Wholesaling) and especially about the people he works with. It's almost as if he takes personal responsibility to MAKE them succeed.

After getting curious about Wholesaling, I joined his program.

Using his front-end strategies for growing our rental portfolio has ended-up being an absolute game changer for my family!

I think it's a great way to get into Real Estate (for many reasons).

Whether you're just starting out (like I am) or have been Wholesaling for a while, I think you would be hard pressed to find a better mentor than Tom Krol. 

[Bill Gulley]

Yes, I just read one of Tom's blogs in the forums, didn't say anything, seems many love inspirational cheerleaders and good marketers make good cheerleaders. 

Seems Tom mention he was ready to quit 2 years ago, talking about newbies, am I to understand he's 2 years into real estate, surely not. 

As to the OP and our legal poster, obviously can't interpret licensing law, I might just call the IL REC and ask if I can go wholesale, just t make sure.

There are ways of wholesaling, but I'll stick to my guns, not one single guru, coach or mentor teaching wholesaling with sale contracts is compliant, on the legal or ethical side. 

Funny, the only advocates who disagree are those teaching the newbies, the newbies that want to believe and some shady ones, no attorney on BP has ever advocated the methods being taught nor has any regulator. That might tell yo something. :)  

[Michael Quarles]

@Bill Gulley

I wanted to like of your post because most if it is absolutely correct. I know for certain California has laws which very clearly state what you can and cannot do without a real estate license when assigning the contract. 

I also believe that most people use the word wholesaling incorrectly... One can wholesale without assigning and when done constructively I don't know of a single law that prohibits it. Its really assigning the agreement where the issue is. The problem is that the difference isn't being explained enough and even those of us who know the difference seem to use the wholesale word to describe assigning because the vast majority of new investors don't know the difference.

As for @Tom Krol, trust me when I say this... He wouldn't make a pretty cheerleader. Sorry Tom but the Dallas Cowboys aren't going to hire you. However his ability to guide with enthusiasm is unparalleled. Where he may lack in a lifetime of knowledge he excels with drive and passion. IMHO he is exactly what a new investor needs. Most fail not because of what they know or don't know they fail because they lose focus and Tom has enough to share.

Now up to 3¢

[Bill Gulley]

True @Michael Quarles

it's how they are taught that's the problem! :) 

[Tom Krol]

Originally posted by @Lisa E.:

This thread is interesting. You do have gurus and their supporters who peddle their wares and the most common response I see to that "has anyone actually done/closed a deal" with assistance from said guru. Here you have folks who are actually sharing their experiences of getting deals done and they're shot down anyway. 

A lot of the more experienced investors say read a book, all the information is here, you can google it for free. It's great to be at that level where you have all the time to do that. As someone who is in school and working, I appreciate those who share time and cost efficient ways regarding their hustle.

Appreciatively,

Lisa

Exactly Lisa. Over the past few years I have learned a LOT from reading books, listening to Podcasts, programs and going to live events. Unfortunately, many people never get past the Education side of it. They get consumed with learning rather than actually taking action.

When you go into learning mode, you feel good about yourself. You feel warm and fuzzy like you're actually doing something when in reality, your not doing anything. 

Instead, you're stay locked in "preparation" mode rather than taking any kind of meaningful action towards your goals (in this case, generating revenue).

I recognized this early on and avoid it like the PLAGUE!! 

Instruction (vs. education) leads to real results.

[Tom Krol]

Originally posted by @Michael Quarles:

I have more than 100 posts so if I may...

About @Tom Krol 

Tom is way tooooooo COOL.... And although I my real estate knowledge is greater than his I learn something from him everytime we talk. Hard not too. 

Here is my take away... If you're even remotely considering a coach he should be on your short list. If you want unabashed motivation he should be the only one on the list. 

And his brother, Todd Toback, OMG... 

When you get to know him as a man, what he represents and what he offers, the decision is easy... A total class act.

Just my 2¢

 Thanks brother! I am HONORED to receive such an endorsement! I really appreciate that!

[Tom Krol]

Originally posted by @Darrin B.:

I don't post a whole lot (do more reading) but I felt compelled to write when I read Roy’s post. 

I want to throw out a HUGE endorsement for Tom Krol as well. I met Tom a few months ago and was immediately struck by his energy, heart and knowledge on all things Wholesaling. I was so impressed that I invited him to be a guest on my Podcast, Big Wig Nation.

Keep in mind that I don't just invite "anyone" on my Podcast. I've had folks like Darren Hardy, Gary Vaynerchuck and Jack Canfield on my show, so that should give you an idea of the caliber of guests I speak with.

As I got to know Tom, I realized that besides being an overall great guy, he actually "cares" about what he does (he genuinely LOVES Wholesaling) and especially about the people he works with. It's almost as if he takes personal responsibility to MAKE them succeed.

After getting curious about Wholesaling, I joined his program.

Using his front-end strategies for growing our rental portfolio has ended-up being an absolute game changer for my family!

I think it's a great way to get into Real Estate (for many reasons).

Whether you're just starting out (like I am) or have been Wholesaling for a while, I think you would be hard pressed to find a better mentor than Tom Krol. 

 Thanks a bunch Darrin!! I'm proud to know you and honored to be a part of your success!! I know you have some big goals for 2016 so it's time to roll up your sleeves brother!! 

[Bill Gulley]

Originally posted by @Tom Krol:

Originally posted by @Lisa E.:

This thread is interesting. You do have gurus and their supporters who peddle their wares and the most common response I see to that "has anyone actually done/closed a deal" with assistance from said guru. Here you have folks who are actually sharing their experiences of getting deals done and they're shot down anyway. 

A lot of the more experienced investors say read a book, all the information is here, you can google it for free. It's great to be at that level where you have all the time to do that. As someone who is in school and working, I appreciate those who share time and cost efficient ways regarding their hustle.

Appreciatively,

Lisa

Exactly Lisa. Over the past few years I have learned a LOT from reading books, listening to Podcasts, programs and going to live events. Unfortunately, many people never get past the Education side of it. They get consumed with learning rather than actually taking action.

When you go into learning mode, you feel good about yourself. You feel warm and fuzzy like you're actually doing something when in reality, your not doing anything. 

Instead, you're stay locked in "preparation" mode rather than taking any kind of meaningful action towards your goals (in this case, generating revenue).

I recognized this early on and avoid it like the PLAGUE!! 

Instruction (vs. education) leads to real results.

Tom, thanks for the vote!

I totally agree that no one makes money sitting in a classroom except the teacher. 

However, if you're one to simply motivate, with the jump right in and do it approach, sorry, but we're going to have a problem. 

You've had to have seen some of my posts, teaching real estate folklore without the basic education is plain dangerous to the student and for the public. 

I don't advocate getting a 4 year degree in real estate, I certainly don't advocate just learning to be a deal maker approaching houses like a widget either, which is how gurus dish it out. Because of that approach, newbies end up jumping in getting into unethical and even illegal situations, that's not good for their career, those types of instructors are just dangerous. 

I understand too that the gurus, their followers and coaches may not want their students to obtain a good BS Meter, especially if they are dishing out BS.

Now, Michael has spoken highly of you, I've known Michael about 6 years on BP and I've not seen him approach anything unethically, crazy maybe being in the Republic of Cali, but not scamming anyone, so that's a big plus.

A good coach has to be inspiring, a good friend of mine, General Allodial is an inspirational leader, but as instructors we have a fiduciary duty to teach what is lawful, completely lawful and ethical dealing in real estate. In order to do that, instructors need to be qualified, not just in making money or to inspire, but understand the rules, regulations and laws as well as ethical practices our students are to operate under. 

In some of those books you mentioned, I'm hoping one or more were about the basics of real estate, that they weren't all marketing, inspiring and outdated strategies, you can only teach what you know.

Most on here believe I'm Mr. Straightlace walking a very narrow line, not really as the more you know the wider the road gets, but I do stay out of the ditches. I'm probably one of the most successful entrepreneurial people on BP, (if not the), I've worn many hats in real estate and in business and it has all come from good business practices. 

I see you're into wholesaling, that is a concern to me because of that niche relying on deceptive practices, unethical conduct and illegal ploys, but it can be done ethically, legally and in good faith with the public, I've just not seen a wholesaling coach point those methods out as best practice. Usually it's because they don't know either, assuming and following folklore. 

Newbies need both, a good education that really doesn't take that long and a swift kick in the tail to take action, I hope you're trying to do both. 

If you really are, and you are correct, you'll have another advocate in your corner!  :)