Investor Grit - Wholesaling Program - Tom Krol & Cody Hofhine $$

Jay HinrichsBusiness Member

Real Estate Consultant · Summerlin, NV · Member since 2014 · 45k+ posts · 66k+ votes

9y

always check rip off report first

Podcast Guest on Show #222

JLH Capital Partners51 Review

Website View Page

0 Reply

Jay HinrichsBusiness Member

Real Estate Consultant · Summerlin, NV · Member since 2014 · 45k+ posts · 66k+ votes

9y

they pretty much size you up then go for as much as you can afford LOL... these guys usually have back end offices doing this.. and lots of BS excuses like you just relayed... and they are very very good at what they do.

wholesaling is a very advanced strategy it is not a get rich quick method by any imagining the only one getting rich is the coach.. 97% of all people that launch into wholesaling will be out of it in 6 month to 1 year and have lost 10 to 20k...

its HIGHLY dependent on your local market that your going to work ( IE a LOT of low value inventory that the real estate brokerage community will not serve.. ) lots of rentals... Lots of minorities . All those things add up to opportunity for the wholesale transaction to work..

if your working in a high end community with very little distressed RE .. its a non starter

Podcast Guest on Show #222

JLH Capital Partners51 Review

Website View Page

7 Reply

Louis Kim

Washington, DC · Member since 2017 · 7 posts · 20 votes

9y

@Jay Hinrichs wow, really? Lots of minorities so I guess white people dont live in the lower socioeconomic neighborhoods. By virtue of being the majority I'm pretty sure there are more areas for wholesaling with white Americans than minorities.

Also as a broker do you really wanted say such a clearly racist generalization?

As someone who's been an investor for a little while I can tell you that race has nothing to do with it, how about financial circumstances matter more. Just tied up a wholesale deal in 22207 look it up and you tell me how many miniseries live there? You sir are full of 🐂💩.

11 Reply

Tyler Heard

Oklahoma City, OK · Member since 2017 · 20 posts · 10 votes

9y

@ L. Kim Have you read or listened to J. Hinrichs? Probably not. He's not full of bull.

0 Reply

Louis Kim

Washington, DC · Member since 2017 · 7 posts · 20 votes

9y

@Tyler Heard you've missed the point entirely.

4 Reply

Elbert D.

Real Estate Entrepreneur / Investor · Chicago, IL · Member since 2016 · 688 posts · 367 votes

9y

I hope this doesn't turn into a race thing lol lbs....You never know anyone's true motive or what they are thinking.

But Jay is absolutely correct about these wholesaling coaches. They are the main ones making money.....as someone who is close to me says "if these coaches are making so much money why aren't they flipping million dollar commercial real estates or mansions" which is very true. You would be surprise at the answers you get when you ask these coaches things like, how many rentals do you have in your portfolio? Can you show me??? How many flips have you done? Can you show me???? As the saying goes in poker if you don't know who the fool is at the table, it's you.....

Now, You could probably make the same case for teachers. Since the government runs the school system. If they are so knowledgeable on a subject why aren't they working in the industry or started their own whatever industry they are in. But again the government allocates the funds to public schools and some private schools......

I honestly think the people that market themselves as coaches are all of full of it. Don't waste your time or money doing coaching programs. You chose to get into Wholesaling I hope it's because you have longer term goals to stay in the industry and turn into a fix and flipper or buy and holder and whatever else you want to do. Because if you get in just trying to make money your going be highly disappointed be with all the work you need to do. In fact, some say wholesaling is harder than buy and hold and fix and flip strategy. Here in the Midwest well atleast in Illinois and Indiana markets you can prettty much tell the wholesalers who are just trying make money. Wholesaling is a business and should be treated as such. Just do it and linn with a more exp wholesaler and you guys split the profits or however it should worked out. Team work is key in being successful in wholesaling.

By the way I hope we can all put this race thing to bed. I'm sure there are some racist people out here. But no one can control how a person feels about you and your race. I personally don't let it bother me because I have no control over it. I know that the true source of it comes from pop culture(the news, movies, TV shows, cartoons, music, etc....all forms of brainwashing) divide and conquer is real..... it's not a PC answer just my two cents. That is all.

5 Reply

Jay HinrichsBusiness Member

Real Estate Consultant · Summerlin, NV · Member since 2014 · 45k+ posts · 66k+ votes

9y

@Elbert D. I will not be baited into that discussion.. its well documented that subprime lenders targeted minorities of all types. its well documented that those properties go into foreclosure more than conventional mortgages.. And its well documented that there are foreclosure clusters and distressed assets in those areas.

and its well documented that wholesalers work those areas far more than the general real estate population.. that was my POINT.. the other dude jumped to conclusions... I can see his point though he is sensitive. So thats why I did not respond to him.. dont want to get into that type of debate..

But let me give you a little story.

My dad in the 60s started selling land for a major corporation. the sales agents of the day were instructed to ( if they went to the door for their appointment if it was a minority ( of any type) they were to say sorry wrong address and move on. My dad says ********.

he then starts his own brokerage and of course catered to ANYONE white black brown Asian Hispanic etc etc who was qualified to buy our properties. and we did quite well.. And on top of that I am pretty sure he is the first one in those days to also hire minority agents to work for us.. Then fast forward when I am 18 and starting out I am selling in SF Oakland Richmond all areas all sorts of clients.. did not matter, if they had money and qualified we treated everyone the same.. for anyone to even remotely accuse me of being any type of racist simply does not know me. I tend to speak my mind sure.. and or maybe I am not always politically correct but I could care less.. this is business I do business with people from all over the world .. people are people and all good until proven otherwise.

Anyway not tooting my own horn.. but did want to respond,, just not to someone who was looking to pick a fight.

Podcast Guest on Show #222

JLH Capital Partners51 Review

Website View Page

6 Reply

Elbert D.

Real Estate Entrepreneur / Investor · Chicago, IL · Member since 2016 · 688 posts · 367 votes

9y

@Jay Hinrichs well thanks for the response. Me personally, I hate the word "minority" because it was thrown out by the government and it literally means anyone that's not a white male. So I personally don't identify with it. Although, the whole black and white thing is the reason why America is so divided now but often times whenever someone says " Minority" they are referring to black people. And yes often times many corporations and the government exploit "minorities" it's pretty sad but that's the purpose of educating yourself and others how the world actually works.

I'm personally not PC either but I understand why most people are because of the huge media consumption that most people consume. They honestly are the main ones pushing it along with other things that I don't think I could say because I'm pretty sure I'll get reported or kicked off LOL(this post might be pushing it as well)

I actually adopt a similar business approach like you. I'm willing to work with anyone doesn't matter the race. I get what your saying entirely you saying you judge people by their character, which is how people should be judged. I also understand @Louis Kim concerns with all the negativity that is shown on the media and on social media. Everyone starts questioning the slightest things. I think both of you just misunderstood each other...

2 Reply

Brett Snodgrass

Investor · Indianapolis, IN · Member since 2014 · 2k+ posts · 601 votes

9y

@Roger Burzanko

For me, it’s a tough call. What I’m the most comfortable with is partnering on deals with a prospective mentor, that way your mentor has incentive to help you succeed. For example, you bring him or her a deal, and they help walk you through closing and fund the deal, and in exchange they get 60% and you get 40%. Then once you have your own money and experience, you can do it on your own. But, I do also pay for a business coach, who acts as an advisor to my company so I’d just say if you decide to go the route of paying for mentorship it’s one reasonable, and actually helpful. I would not suggest to pay someone claiming to be a mentor who is simply going to give you access to an online course or book. If they’re going to be your mentor, you should have routine one on one interaction.

6 Reply

Xavier Nguyen

Member since 2023 · 8 posts · 0 votes

2y

Quote from @Louis Kim:

@Jay Hinrichs wow, really? Lots of minorities so I guess white people dont live in the lower socioeconomic neighborhoods. By virtue of being the majority I'm pretty sure there are more areas for wholesaling with white Americans than minorities.

Also as a broker do you really wanted say such a clearly racist generalization?

As someone who's been an investor for a little while I can tell you that race has nothing to do with it, how about financial circumstances matter more. Just tied up a wholesale deal in 22207 look it up and you tell me how many miniseries live there? You sir are full of 🐂💩.

Do you know about Hampton roads market in VA?

0 Reply

Jerryll Noorden

Flipper/Rehabber · Wilton, CT · Member since 2015 · 4k+ posts · 4k+ votes

2y

Quote from @Roger Burzanko:

So I know BP is a great place to learn about any aspect of REI. Many say paying for coaching & mentor makes no sense with all of the valuable info you can gather here as a BP member.

I came across Investor Grit - wholesaling program offered by Tom Krol & Cody Hofhine. From the info at their website, they certainly have had many successful students go through their program and I wouldn't expect anything but success mentioned on their site.

With that being said I have also found various good and bad about them on the BP Forum.

What I curious about is the pricing they now have on their program. I wanted to learn more about what they had to offer so I had a "strategy call" with one of their people and they laid out their 90 day plan to profits and then ended the call with the price.

I have found different prices noted for their program from the past but their newest price offered to me was $15k entry (ouch) but with a $6k discount for making a decision within 24 hours hence $9k entry and then ongoing $197 systems fee after the initial 90 days of training.

Has anyone else had conversations with anyone from Investor Grit about their program costs recently? They mentioned the program was $5k last year when Tom was dealing with a troll who caused him some legal problems but price increased as of Jan 1.

Looking for feedback from anyone who has looked or participated in this program along with entry level dollars quoted to others.

I've seen these programs that quote different people different amounts. I look forward to your reply.

Here is where you are wrong.

1) BP is absolutely not a great place to learn.

People here disguise mere opinion as fact. People trow and dress up opinions as if they were undisputed facts backed by data. It is laughable.

Courses themselves are not bad, and they are not good. A good course is good and a bad course is bad. Are you going to say college is bad? Or an education is bad? No right?

Yes there is a ton of information out there for free, but who said that information is correct? Same with courses. Usually, courses are created based on the experiences or opinions of the people who create them. I have YET to see a SINGLE course that is based on data.

Let me give you an example.

Sedding 1000 mailers to the foreclosure list gets you one deal yes?

Yes.

OK

that is a 0.1% conversion rate. That means 999 people of the 1000 said "Get lost" to you.

What does the data say? Foreclosures are a terrible audience to go after.

What do ALL THE FRIGGIN COURSES SAY? Send more mailers to the foreclosure list.

It is just dumb and stupid.

1 Reply

Xavier Nguyen

Member since 2023 · 8 posts · 0 votes

2y

Quote from @Jerryll Noorden: