All Forum Posts by: Chad Michaels

Has anybody used Monica Main's Apartment Riches 2017 program? She claims to have direct access to a 100% LTV Bond Funding source. Has anybody used this funding source successfully? More broadly, has anybody here found success following Monica Main's program?

Did you sell the property Shanna?

You would think someone would have compiled this list by now.  Biggerpockets, is this something we can get in a centralized location, a directory of investor-friendly title companies?  

Much more efficient that every single one of us going to the forums and posting "I'm looking for an investor friendly title company, none of the ones I called even know what an assignment is."  

Thanks @Jim Keller, I've been searching for "luck" in real estate through taking "massive action" that has not really panned out into anything for the past ten years.  Maybe I'm just the bad luck chick of real estate.

@Jay Hinrichs, well, those 1501 offers were in both big and small cities, basically all the properties in the US that were listed for at least 2 months up to 8 months old.  And Larry Goins would probably classify those little towns to be depressed markets.  Jay, have you actually purchased a 10K home that's move-in ready in one of these "little towns" or are you just preaching without experience?

Mark, 

I've yet to find someone who is able to successfully implement Larry's program. No one in the Fairfax, VA REIA was able to successfully implement his program, no one.

Finding a $30,000 homes that is move-in ready AND doesn't have any code violations AND is in a low crime areas AND where the listing agent agrees to take 20+ pictures AND guarantees in writing that there are no existing OR PENDING code violations AND puts my signs in the yard AND (BIG AND) the seller accepts 25-35% of list price is a fantasy fairlyland promise that ignorant newbies like me fall prey to.  Have you really implemented this system Mark Ferguson or are you just speaking as a fellow guru who has "reviewed" the course?  I will be updating the forums to let people know how much of a struggle the Goins group puts up with the course return process.

Who here thought he was talking about a murder scene before opening this thread?

Thanks for your candid responses everyone.  However, I am looking for someone who has purchased the course to respond to this thread, giving us his or her candid experience with implementing the course.

Oh yes, in addition, good luck to getting the majority of the selling agents to even write up the contract for such a low ball offer, most will just send a verbal offer to the seller, which leaves you with no documentation that the seller rejected your offer as Larry requires at least 40 written rejections along with 40 properly written offers before he will honor the 12-month guarantee. 1) The majority of REO properties are sold "as-is/where-is" which means any addendum clauses get thrown out regardless, 2) most selling agents don't want to guarantee anything in writing, especially anything about code violations, and 3) the ones who agree to include all these clauses are usually just so desperate to sell the property because it's a gut rehab and doesn't fit the criteria of Larry's program to begin with. It's a full-time job just trying to get the agents to write the contracts with these clauses and to get written documentation that these offers get rejected.

Okay, here is my experience with Larry Goins' Filthy Riches course:

I found out that in order to find $30,000 homes that are move-in ready and don't have any code violations and are in low crime areas and where the listing agent agrees to take 20+ pictures and guarantee in writing that there are no existing or pending code violations and put my signs in the yard and the seller accepts 25-35% of list price is going to be a full-time job. (According to my business advisor at the Goins group, most of the students fail to find good deals and it takes several Goins Group staff members a full time effort to find homes that qualify their own criteria.)

I put in 1,501 offers over the course of two weeks, which required that I essentially play hookie from my full-time job in academia in order to submit and follow up on all of the agents who responded to my initial offers. I'm glad that I wasn't put on academic probation. But now I'm still left empty handed without a viable deal according the Larry Goins. But that's just to put the amount of effort I put into Goins' program into perspective.
Now of course my "business advisor" is telling me that I didn't do the course right, because I didn't pre-screen the 1,501 properties to make sure they were in livable condition before making my offer.

That way I don't fit the criteria for a full refund per the 12-month $12,000 guarantee and have to pay the 10% restocking fee for the 30-day return policy.

Some of what Goins teaches in the course is outdated, particularly the talking point regarding the flat seller's commission. Most REO agents get a percentage and no longer get a flat fee from the bank. Also, the "business advisor" that gets assigned to you will tell you that he has personally worked the course, but this is doubtful when you begin to actually probe his knowledge of the course and of current market conditions.

Anyone who was helped out by this, hit me up.  Let's partner and make some real real-estate business happen and co-wholesale some deals or something.  I'm eager to actually start making real money in this business.