All Forum Posts by: Alan Goetsch

We signed up for Connected Investors 9-4-16. At the same time we where gullible enough to likewise put out information through the CiX site looking for lenders. Allegedly all the lenders on the CiX site have been vetted and are legitimate. Having said that, let me share with you what we've learned and experienced in the time (nearly 6 mos) we have been on this site.

!. Since 9-4-16 we have been contacted by 63 so-called private money lenders not affiliated with CI or their supposed list of vetted lenders. Not 1 lender has proven to be legitimate. Never mind the qualification that may have been requested. When these lenders were investigated; addresses turned out to be phony, licenses when claimed false and virtualy 61 of them wanted up front fees in order to process the loan. The smallest upfront fee was $1200 and the largest $10,000. 58 of the lenders required copies of our passport.

14 lenders were in the criminal data base of Interpol; 28 were in the in the financial crimes data base of Nigeria and 4 were listed in the Interpol data base connecting them to Russian mobs!

2. Of the dozens of REI's we shared deals with; not one was able to complete a deal. Ultimately it always boiled down to their inability to close due to funding problems. (Lack of money period in 85% of the transactions).

3. It is true that Ross Hamilton as assembled the largest social network for real estate investors. And like all the gurus, (Childress, Dave Galegor, Cantwell and the list goes on)...they pitch their seminars and courses; charge ridiculous amounts of money for outdated or information one can obtain for free with just a little bit of effort. The stats for 29,000+ investors on CI, who have successfully built or substantially expanded their business through CI is less than 5%. Just ask some of those who are begging for business hookup...how many deals have they closed directly with another CI investor. You will be shocked!

4. Rip-Off Report has plenty of people that have finally awakened to the fact that CI is nothing but a very cheap and ineffective gathering spot for REI's wishing against hope that somehow they will connect with a successful transaction.

5. During our miserable experience we presented 14 deals; not one of them closed as a result of CI contacts. We did however close successfully all 14 by simply using reputable resources such as Oncarrot, AWeber, Sales Genie and several other sites. If you pay attention to these gurus you begin to realize they are similar to a "tag team" wrestlers on WWF (fake too by the way)...one so-called "expert" REI will ply his crap for a while and then all the sudden another guru pops up touting the advantage of using this other gurus slop...but in the end its all the same swill.

6. Ross Hamilton knows full well the kind of people that promote their garbage on his site. In fact we know that two separate state law enforcement agencies are currently investigating several so-called lenders who were advertising on the site.

7. One of the most glaring signs of the scam oriented site that is CI...should be the fact that CI and CiX support Josh Cantwell. Cantwell is even more odious than CI.

In short we have determined to work with several agencies to see that CI is held accountable for the rip offs and scams that are perpetrated daily on the site.

If you are truly in search of legitimate funding; private or otherwise, you will find that real, honest lenders have nothing to do with these kinds of sites. They realize that licenses and possibility of severe criminal prosecution isn't worth the risk. Do your due diligence and search out legitimate lenders.

It's worth noting that COGO Capital is on the CiX "hit parade" but I can tell you with certainty that our experience has been nothing but 100% positive. They have funded many of our deals. Another agent of integrity can be found at funding by mary at g mail.

8. Lastly in taking the CI training we soon discovered that it is a gigantic sales pitch for more money and products that are never delivered. Again as we have reaffirmed in our business; there are far more effective products and tools available for ultimately far less money. The deals referenced above all came to a successful close as a result of those tools. Oh...and by the way we made a total of $143,582 total off those 14 deals. CI had virtually nothing to do with any one deal...period. 

I will give credit however to CI, in that we learned a multitude of things NOT TO DO and how to better refine our associations with those who are real REI's.

Conclusion: Connected Investors is a rip-off, scam and nothing short of a criminal enterprise!

This post has its genesis in my own blind stupidity. Im hoping it will go along ways in drawing attention to a major problem in the REI industry. If it doesn't jar your senses you are probably an investor ideally suited to purchase "buy n hold" properties on Mars! I recently was swindled by two of the largest 100% purchase and rehab funders in the so-called REI business. They are COGO Capital and SREC Freedom Funding. Both promised me the sky and asked for a substantial investment of my own money so I could qualify for their magnanimous help. In the end I got zip...nadda! One company issued me a proof of funds letter that was virtually worthless and resulted in my seller threatening me to go to the authorities, thinking I was some kind of crook...of course the deal went south. The other continued to stall my refund by claiming to present to me dozens of so-called success stories, replete with these alleged victors holding up checks from their "awesome" deals. I was sitting around several days after by last defeat and got to wondering, staring at those big figure checks when my curiosity got the best of me. A very good friend of mine is in law enforcement and I shot the idea across his bow, asking him to help me investigate the checks in the pictures. You know what we discovered when we blew the pictures up? The great majority of these alleged profit checks were utterly phony. Routing numbers and other banking data were phony as a nine dollar bill! So next time you consider listening to one of these REI guru-scum bags...think twice! They are outright swindlers and bald face liars! Alan

Marc Have to hang my head , because I had a very similar experience, though I suspect I didn't lose as much as you. I was just plain stupid and bought a "Proof of Funds" letter from the scam man himself...Lee Arnold and one of his dubious business concerns, COGO Capital. I should have known from the start that paying $4.95 was going to get me exactly what I got...zip! Worthless paper! When the sellers bank called they got a narrative filled with double talk. The letter was worthless and the deal headed "south" like jet plane. I really kick myself because I was born and raised on the 5th largest cattle ranch in Oregon. And if there is one thing a real cowboy knows...it's b.s. What I've discovered is that the great majority of these REI gurus are simply shysters and bald face liars. The greatest portion of their so-called wealth is made by selling seminars or mentoring for outrageous sums. Or using student/clients as glorified "bird dogs". Their 100% funding programs are scams...filled with more cracks and holes than the San Andreas fault. I've already dealt with 3. Zack Childress, Lee Arnold, and will probably be adding Cantwell and Lucchesi. Why pay for something that abundantly available for free? Right here on this site.

Originally posted by @Alan Goetsch:

I repeat...99.9% of the solutions and answers can be found free-of-charge; simply take advantage of the incredible knowledge base in the community at Bigger Pockets...its that easy. Since the post I actually had an eager investor contact me to offer a funding opportunity. Free!!!

I repeat...99.9% of the solutions and answers can be found free-of-charge; simply take advantage of the incredible knowledge base in the community at Bigger Pockets...its that easy. Since the post I actually had an eagwer investor contact me to offer a funding opportunity. Free!!!

Remember who posted the ad. RE agents are a mutation of a politician in 99.9% of the cases. Their entire efforts are directed at trying to lure you into their offices so you have to endure an hour or more of their incessant and worthless babble; while pitching a half dozen properties that are absolutely worthless in accordance with your needs and goals. Your own personal review and leg work will save you hours and likewise over time save you a bundle of dough. If you do need to peruse properties online, try to use Realtor.com, Zillow.com, Trulia.com and Loopnet (commercial property). Another super resource is the County Assessors Office and their data base. More and more are now including pictures and using Geoportal. Their data will be relevant to making an informed decision concerning a possible deal. REI is not (contrary to the Gurus) a sit-on-your-butt and get rich endeavor. The more personal effort you put into your deals the bigger the bucks and the quicker you start stacking up your profits. Just get out there and go-for-it. I rode bulls professionally for nearly 20 yrs. The common thread between bull riding and REI is that neither can be accomplished by being on-board half way. You are either on all the way...squarely seated and ready for whatever comes...or you have lost before the gate even opens. Cowboy up!

Absolute BIG waste of money! 99.9% of RE agents are near "politicians" in my experience. Don't make your deal more complicated than it needs to be. I've my Title companies excellent resources to make sure my paperwork is in good order. And for the price of 1 hour worth of a good RE attorney to look things over, you will save yourself a bundle of money and the all too often experience of being overwhelmed by some agents cheap perfume or cologne. There are several excellent RE legal form sites that not only provide you with State and transaction specific document packages; but also include very simple yet detailed guidance on filling out the forms. I used www.uslegalforms.com. Nearly 25 deals later I've never had paperwork issues. Their dorms are very well received in the States where I do business. Lastly, this site has always been a treasure trove of easily accessible expertise and guidance. Avoid RE agents and their shenanigans like Ebola. They are just as much a hinderance as banks to a REI!

Yes in aome instances and will probably increase that number due to high ROI.

We have begun investing in properties (SFR & land) in the the Waveland/Bay St. Louis, MS area. The deals are incredible and the number of out-of-area buys nearly as amazing. Has anyone else discovered this "gold mine"? Following the U.S. government debacle and ineptness in handling the post-Katrina disaster, virtually thousands of REI opportunities blossomed. The area is pregnant with deals. I would like to find other investors interested in the area's opportunities.

Body too short? What does that mean? My post was several paragraphs in length. I had one reaponse so somebody read something?