Any experience with Adiel Gorel??

Question

Hey all, I have recently have been seriously looking into real estate investing.  Been flipping through pages of the Rich Dad series and some other investment books (including the Bigger Pockets ebook).   I am 30 year old emergency room nurse currently living in San Francisco, but I'll be moving to Charleston next month.

A few of my coworkers in California have used Adiel Gorel to find investment properties in Arizona and Nevada.  Seems like they do a lot of the leg work for you and he sends out a newsletter often that lists new properties as well as current cash flows and what upgrades it may need or may not need.  You just need to come up with the $$ for down payment and they have relationships with property managers and agents that they work with local to that property.  My coworkers really rave about this as one has 2 rentals, the other coworker has 4 rentals and her family member has 22 rentals all done through Gorel.

I just wanted to see if any of you guys have heard/used him for help with property search and investments?

Here is his website:

http://www.icgre.com/

Wade Huie · Answer

Adi was the "guru" who was my inspiration for buying my first rental investment, which I got through his company.  I have subsequently bought others elsewhere, but none went as smoothly as it did with his outfit. I have on occasion turned to him for advice on properties that he had nothing to do with, and he couldn't have been more helpful. I have dealt with many other real estate "experts" since--Adi remains my favorite. He walks the talk. For any who want to get into real estate investment but want solid assistance, I can't recommend anyone higher.   Wade Huie

Mary Jane morris · Answer

I bought my first two properties about 15+ years ago in AZ with ICG.  It was a great experience.     I bought one in TX shortly there after.  When it was time to sell TX, Adiel gave me a referral for a realtor and I got over asking, all cash with no contingency.   The realtor even helped by suggesting I put in a claim for hail damage on my roof... all whilst I was out of the country.

I bought one in OK four years ago.   I’ve had the same renter the entire time.  Purchase price $150, currently appraised at $170 and rents for $1395.

Last spring I bought 2 in FL and 3 in LA and they are all rented and cash flow positive.  I only wish I had $70k for a $275k duplex that would cash flow over $1000 a month.

I’m almost 60 and want 10 total within the next two years.  Between rental income, social security and my 401k... retirement will be comfortable.

For a new person, I recommend LA with Michelle.   These were the easiest to get rented.

Best,

Mary Jane

Mark L. · Answer

I have purchased several properties from Adiel Gorel-ICG in multiple markets over the years. Here is my overview of ICG.

In my view, he runs a legitimate operation and has a great concept. Buyers can use their own lenders, PMs and there is never any pressure to buy. They make their money by splitting the sellers' commission with the realtors and management fees with the property managers, which is fair. He is an intelligent guy and appears to care about the people who work for him.

The negatives? Adiel can be blunt, dismissive and sarcastic unless you believe 100%  in his message. He does not tolerate feedback well and has a low tolerance for any questions which counters his image or message "well, i have been doing this for 35+ years so I know. "  His realtors (particularly in OKC) is error prone (rent estimate), indifferent with their 1 line email replies, and acerbic. I maybe wrong but they appear to be sellers/ICG agents.  The lackluster customer service is disappointing because if they polish this by 20-30% more, this could be a great company long term.

Mary Jane morris · Answer

I bought My first property on my own but all since then has been through ICG.   They make it so easy. I’ve had two in Arizona, I’m getting ready to sell the Texas property I’ve had for 15 years and bought one in Oklahoma City. I see no reason to drive by my property or manage it myself. I don’t do my own taxes nor do I operate as my own contractor. I don’t spend anymore money on a property then I would if I would’ve found it myself I just waste a whole lot less time.  I live in California we are finding rentals that pencil is difficult and the cost of entry is high. I have no problem buying spec homes that I will never see and I have someone else run it for me. Mr. Gorel has been nothing but generous.  He took the time to meet with me and my real estate group over 15 years ago for free and when I need advice I pick up the phone and book a 30 minute free appointment. Every few years all attend one of his quarterly all day seminar’s again for free. Try to get anything free from Rich dad poor dad. That man just wants to sell your marketing materials. Right now I’m selling two properties and we’re by at least six more of the equity. I’m not in it for the appreciation I’m in it however the regular and recurring payments that will support me in retirement. I have nothing But good to say about the company. It has helped me write my script or how my life is going to turn out

Suresh K. · Answer

Myself and a few of my firends bought several rental properties in FL, TX, and AZ through him, some 25 years ago, when there was no internet or WWW. He used to fax to send out property information, and most of the sales used to be VA foreclosures. Our experiences with him were largely positive.

Denise LaBrie · Answer

Hi Andre,

Thanks for asking. I just read through my post from 8 months ago and I have come a long way since then.  Yes, I have attended two ICGRE Expo's and done a couple of market tours. I have purchased 2 properties and am in contract on two more with realtors I met through Adiel. I don't think I would have taken the big step to buy my first property if it wasn't for him.

Denise

Andre Alonzo · Answer

@Dan Veneski

Did you go ahead and decide to purchase a home through ICGRE?

Denise LaBrie · Answer

Hi Dan,

I live in Alamo, CA and I too am educating myself and preparing to dive into RE.  A friend put me in touch with another Single Mom investor who has used Adiel Gorel and now owns property in multiple states across the US.  Here is what she had to say about him.

"It wasn't really a class, more of a full day of speakers.  Adiel Gorel in Marin County runs a company that recommends the markets  poised for upward movement, then puts you in touch with a website full  of realtors and listings. Before you invest be sure to meet with Adiel."

I have found other seminars by Than Merril and Lifestylesunlimited that ultimately want you to pay a lot of money for their advice.  I am going to try to find an event put on by Adiel Gorel  I can attend and try to meet Adiel.  Because I have a full-time day job the connections in market would be very helpful to me and I hope could get me into my first property sooner.

I wish you all the best and if you want to continue to share as we both learn, I think that would be great!

~ Denise

Steven W. · Answer

Hi Russ,

I've used Adiel Gorel's group for the purchase of 6 single family dwellings in the past. I have had only good experiences with them--they find very good realtors who know their markets (and understand what investors are looking for) and they line property management companies up for you.

I would say that if you are looking for a "hands-off approach" to buy and hold RE investing, his group is a very good resource. I'll be attending his next event in South San Francisco (free for those who subscribe to his emails) on Dec. 6th. There's never been any pressure to buy at all, and Adiel has been very generous with his time.

Feel free to ask any other questions,

Steven

Any experience with Adiel Gorel??

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