I'm watching his "How to get 100% funding for unlimited deals" right now. I can't remember how he crossed my path, but its the first webinar of his I've watched, after my email was blown up by 100 emails in 3 weeks on what appears to be a wide variety of topics.
Really disappointed after 5 minutes. 10 minutes in, I was googling "scam". Bottom line, it just doesn't smell right at all. My thoughts are:
1) He's into far too soo many diverse aspects of real estate that are quite the highly specialized niche. Like a dozen of them. There's no normal chosen focus or strategy. Therefore, unlikely to be a guru...or even worthy mentor of any.
2) Don't quote, but within the first 10 seconds or 1 minute of the webinar I could have sworn him say he only has or has "only" made $1.2Million of his own money.
3) If since he as a wholesaler (one of his dozen professed niches) has all this software, which can identify motivated sellers, has a network of buyers, has so many structures and systems in place, then what in the world would he need us for. Has a vast network of hard money or private lenders that give to him-so he can give to us-Not making sense.
4) Worse, it just leaves a bad taste in my mouth that for three weeks he's claimed via email to watch this same seminar, but then in it is a bit too over the top in deadline marketing about how hurry theres only so many spots left and ect. Moreover, consider how he says in the next breadth more on how he has no sufficient track record to eventually syndicate and be a decamillionaire or centimillionaire so thats why he needs to give to us to establish himself as one. In turn uses these claims of his limitations (also such as only having so much money he is being lent) to give to us. Pure circular comedy actually.
Let me give you an analogy using the retail trading world of what I fear real estate could become. My other background for 15 years now is in the trading world. First, self professed traders on their cell phone apps placing trades with their typically less than $1000 stand virtually next to zero chance of success. In that world the typical path is 6-8 years in formal financial education, then if trading just for self, losing many first few thousand dollar accounts for about another 3-5 years. On my social media, there were about 10,000 of these that followed me. About 30 Thirty of those 10,000 verify are successful at all, usually with twice my formal education level and years experience trading. About 9,000 have been blocked as "social media clowns". The 1000 I talk to stand a chance-but they are typically NASA engineers or other post graduate level mathematics professionals and willing to lose in trading the first three years. And ready to read 20 1000 pg books on the subject. Secondly, do the basic math. Lets suppose someone can make 10%/per month return on capital trading. Oh, Very few can right? We do this by risking 1%-3% capital per trade because of 10% occasional drawdown that will come with that, mind you. Now lets suppose someone's goal is to earn their annual salary trading and leave their W2. Thus if they make say $50k/year at their W2, they would need $50K starting capital to make that 10% per month! But their walking around their job at taco bell showing how they just risked 70% of their $500 total capital on a single trade and made $50 bucks on that lucky day. -Because the gurus they all paid a few $grand for a course-or signal service-or robot told them they could retire a millionaire by starting with their $1000. Theyre trading against us with tens of thousands of dollars in services we pay out and 8 monitors and news feeds of they're exact positions to wipe out, mind you. Third-so in the last 7 years came the "prop trading firms". This is where the "retail trader" pays $1000 to a firm to prove themselves as a competent trader for 2 months and then is given $50K to trade. The prop firms claim to have "whales" and millions wishing for higher returns. In actuality the prop firms make the vast majority of their money collecting $1000 from novice traders as their business model. One stat showed that about 4 in 775 traders didn't blow the account within 4 months-that's how many are successful! Fifth, now here's the point: Next came along more novice traders who collect $1000 from the other novice trader to "pass they're prop trading firm tests" in order to get an account lol. Sixth: See this complexity of chaos goes on. You see the circus.
This Jerry Norton is the real estate analogy of that retail trading world. A social media clown. In real estate I stick to tried and true methods for 28 years now. As in working 3 jobs and sleeping 2 hrs day in the 5x8 office for that first $10k until buying that first long term buy and hold rehab at age 18, learning how to manage tenants, learning how to manage financial risk. No disrespect to anyone, but cant we begin to see the increasing amount of novices with zero cash, poor credit, little income for personal expenses, haven't heard of they're local meetup nor bigger pockets nor which book like Kiyosaki nor Brandon Turner nor Grant Cordone's etc-all about to become millionaires easily. Do keep it up in right directions but beware the false gurus. Jerry Norton hes "just so awesome" that he doesn't need to actually know or do anything. He states in the video this-that he, "considers rehabbing or flipping himself risky so he'd rather not" lol. He just so awesome that he knows not just 100% financing but house flipping, notes, instant comps, contractor agreements and a ton of legal paperwork that's "took him 17 years to compile" software, wholesaling, syndication, MLS access, lets see the other 126 emails from him here: " "How to get out of contracts" lol, "How to make a million dollars a year flipping houses" (but he'd "rather not cause its risky" at the same time)... Hes this awesome so he really needs us and our $1000 given his lack of capital and expertise. He's another future billionaire building a house of cards empire to be afraid of. A walking talking contradiction-Admitting his view of increased STR regulation, then stating it to hurry and buy into his stuff and that market in next breadth. Thank you bigger pockets! For all your comments here and especially to the OP. I can get this clown's emails erased and blocked and webinars off my schedule now. Traders: Stick with real estate instead ;)
