All Forum Posts by: Jerry Stanford

@Jeff B....Thank you very much. That's it in a nutshell.  It's not so much getting the information as it is HOW to apply the information properly and that local mentor is rare...

@Account Closed...REIA's are great places to network...there are exceptions to EVERY rule. I've been to many local REIA's. Simply going to REIA's may not give all the answers either. It's not about laziness and it's a bit more needed than simple sharing and helping for some...not all, but some. REIA is not the all be all answer to solve the guru problem. I have been snubbed at REIA's because I was new. I have asked questions that were blown off because "You should know that if you're going to be a real estate investor" at a local REIA. I have an IQ above 50, I can read very well and I hear exceptionally well. Some pieces of the puzzle may not fit as well for me and I need a bit of a deeper explanation. Where is the problem in asking the question?? How do I learn if I'm not able to ask a question?? It wasn't an isolated incident either. I've had it happen on BP in private messages as well. Some people you meet at a REIA are great but you cannot reach them when you have a question. They are just busy people. Nothing wrong with that, just not available when you have questions especially when you are trying to figure out what to say to this motivated seller and you need an answer for them. I can give you a bad situation about every and any thing that has to do with real estate. The key things I wanted to point out were assumption, negativity and generalization. That because a person is labeled a guru they are bad, because it is BP, it has all the answers, because it is on the internet or in a book that you have all the answers you need, a REIA can give you all the help you need. In my perspective, as a neophyte, if you want to stay away from the guru trap, a combo of them all is needed but with more help from the pros and vets to stop the neos from being preyed upon. Not everyone needs the extra help, but I've seen hundreds of people with a lot of money that say they do. Sure, there are some lazy people who wanted all done for them and will pay for a system that let's them sit back and do nothing...I would take their money too, but I think there's many more that sincerely are just a little nervous about going it alone and would feel much better with someone with more experience by their side for a deal or two, till they get the hang of it and they don't mind paying someone who's kind enough to take the time to lend that helping hand. It's helped me quite a bit and I believe it would help many others.

You didn't burst my bubble at all @Angel Dejesus.  That makes perfect sense.  If I'm not mistaken, @J Scott has that in his book as well about the permits and contract payment plans.

@Scott Steffek...I agree on a specific level.  To each...his own.  There are those, like you...who can and have achieved success that way. It is not impossible and kudos to you for being a mentor. There are exceptions to EVERY rule, no matter what the rule is. Not ever neophyte can read and post and achieve success and not every person that is labeled a guru is worthless. @Account Closed...In general, I agree with you, but again there are exceptions to EVERY rule. There is much that cannot be taught here on BP or in a book. BP or a book are just the tip of the iceberg. Not to say gurus are the way but most people will not learn how to be successful in real estate even if they read every book, listen every podcast and ask every question they can think of. For some it does and can work that way, but realistically for many, it does not. That's why I offer the challenge to the pros and vets instead of bashing gurus and saying what they will not offer and cannot do, turn it into something positive for the neos and offer a JV or some form of OJT(on the job training) along with learning from BP and various others treasure troves of information. We hear enough about what won't work but there are still many pieces of the puzzle missing and many questions to be answered that even reading every BP post and listening to every podcast and posting every day will not answer. DIY doesn't turn on the light bulb for most, this is why the gurus are so successful. If you really want to help neos find their way, offer them a better alternative instead of constant negative input and brick walls. If the gurus don't know anything and and leave you fend for yourselves, show a better way...show the truth. Don't talk about...be about it. Do what you tell them to do it...take some action...if they are willing...you be willing. Make it a learning and a business opportunity. If a neo wants to give a guru $20K to learn how to flip a house, I say better yet, come with me and let's JV together on a rehab and you can see real life practicals on how it's done. I can read all day long how to fix an engine, I can ask all the questions to all the mechanics at PepBoys, Murray's and the like, read every article on the internet and still not learn like I would if a mechanic was there with me walking me thru the entire process as I was fixing it. What better way to rid the world of gurus than to help neos learn with someone who's been there and done that with the boots on the ground help they need?? What better way to know you've given back than to know you kept someone from being cheated out of their money by helping them build a viable business that helps them achieve their dreams?? It's something that is sorely needed and desired.

Thank you @Joy Williams!!!

Check out Guaranty Title...

@Bill Hinshaw...Be glad to.  Just did my rough walk thru so far.  Haven't walked thru with my GC yet to get the detailed SOW. Once I have that, then I will plug that so that I have my more realistic picture and I will share them. We're set to do that this Friday morning...

@Gino Barbaro...I agree.  The word "guru" did not start out as a negative word. It was word that was to denote someone of a higher mindset, a more divine, spiritual teaching that could guide you to a higher level.  College is paying for education and coaching and they making billions a year and corporate america demands that you have a nice little piece of paper from one of these colleges that cost these thousands of dollars before they will accept you to prove that you learned something of value so in some respect, paying for an education or coaching has some value but like college, not every "school" has the same value of education for same money and sometimes the less expensive schools can give more valuable knowledge than the higher priced ones. Many successful people in many industries have coaches and they pay prices in the 6 and 7 figures for their coaches.  In my book, coaching and mentoring is needed especially in real estate but instead of throwing tomatoes at gurus, offer up a positive, viable, achievable alternative that gives desired results for the same if not less money. Just like colleges, we know there's some good, some bad, some ugly, but we have enough great minds on BP alone that the same amount of money could probably do some great deals that people could earn and learn from and gain valuable knowledge, experience and build some stellar relationships that you can't buy at a 3-day workshop for any amount of money...

@George P....I do agree with that line of thinking.  Hard to tell with some gurus sometimes but leveraging as you speak of is something to consider...

@Gary White....That's what happened to me as well and when I talk with fellow neos, it's the same scenario. I've gotten great info and met great people but I've missed getting that one-on-one that for me would have helped me. I did spend for one system...Clever Investor. I did get to pay monthly and I was getting some good mentoring in my opinion and good support but when I lost my job and could not keep up with the payments, my mentorship disappeared. Not unexpected as with any business, if you don't pay, you don't play...it was just the fact that if it hadn't cost so much, I may have been able to pay it off sooner and could have continued with the program and gotten through my first deals. I have been lucky enough to find someone local who is willing to work with me and answer my questions, thoughts and ideas and we are able to JV on deals together...