Sacramento 3-day complete!

Message #934 of 942

I just completed the 3-day in Sacramento and it rocked! Just as Dan mentioned
in his 3-day I took a full pad and a half worth of notes.

Lots and lots of great information. I was a little worried going in as some
people on this forum had said they didn't like their trainers. But there were
enough people on this forum that really liked the training that I chose to go.
And that was a smart move.

The 2 trainers were excellent. Knowledgeable, funny and committed to everyone
getting a lot out of the training. One was an older man that has been an
investor for 30 years. The second was previously a police officer 9 years ago.
Between the two of them they related deals ranging from single family homes to
apartmenet complexes to small commercial buildings to Donald Trump style office
buildings.

They brought all this down to earth giving very specific instructions on how
to negotiate a deal and how to find the money to finance it including using the
seller's money. On the final day we looked through several newspapers and
publications to find "motivated sellers". Very useful for me to see how I could
find my own deals in the paper.

I met Dale for the second time during the training. Hi Dale:) Very nice guy
and always willing to help. Dale has a lot of energy to say the least! That
explains why he can respond in so much length to all the posts. But none the
less, nice guy, willing to do anything to help you out. As Dale mentioned a
week or two ago he NOW DOES work for NRI.

So the training was great. Now the question is, how will the students use the
information. While I was a little nervous I contacted a seller in my area the
next day that happened to be selling multiple properties out of state that
looked like a good deal just from the ad. I've been talking to him for 2 days
now getting more information and he may carry back 10% of the down payment!
That's sweet! I'll post more information when I get an accepted contract.

So, those of you that are on the fence as far as whether the training is worth
it or not, I'd say jump in and give it a whirl. Of course the training is only
the first step. As they repeatedly said during the training, "the real training
starts on day 4". And I believe that. They give you the tools to work with and
now you've got to use them to find some good deals.

That's all for now,
Greg

3day workshop...one person's experience in atlanta

Well I made it through the 3 day workshop
with a zillion pages of notes with web
site addresses given to us today, where
you can find deals and check out properties
without having to see them in person.
I'm very very satsfied with the workshop.
They never really pushed the M5 or other
workshops very much. Very low key which
I liked concerning the other workshops.
However they did give you a ton
of ways to make money and some creative
ways to get financing. If a 22 year old
(who I met) can buy 33 properties in
basically 8 to 9 months (he owns them
all), I think I can get a few if I take
the time to apply what I've learned and
absorb what I've heard over the last 3 days.
Yes, I made several more contacts today and a couple
of people I will probably end up doing some
deals with. Now it's on-ward to the coaching,
which I had signed up for originally with the
workshop. So far so good to my surprise.

Dan

My 2days so far at the Atlanta workshop..

Well I hate to admit it but I definitely have
gotten my money's worth with not only the contacts
I've made at the workshop but also with the vast
wealth of knowledge that has been given to us
by Ryan Smith and Joline who I guess it's about
4 times a bigger a player than Ryan. She does
25 REO's a month in the 7 figures not to mention
many other deals she's working on. By the way,
they have given us locations and prices etc... on
their deals. I have been very very impressed with the workshop
and have learned a ton. I've got 47 pages of notes
with a day still left to go. By the way, I asked
Ryan Smith point blank if Dale in any way worked
for NRI or James Smith and the answer was a
sincere no so that should put to rest some past
questions that had been raised about Dale working for
James Smith. I went to lunch with a young kid today who
is around 22 years old and took the workshop and M5 just
last year. Guess what? He now owns 33 properties!!!
Never had real estate experience before. Wow!

Dan

MORE POINTED QUESTIONS...

Touche, Michael.  That is all I have been asking, and many others.

  I was sitting in that class with people in the bad credit boat with me and it
is INFINITELY harder, not IMPOSSIBLE, it just takes more work and the hard money
numbers decrease the number of available deals.  YES money matters to us.  YES
feeding our kids is high on the list of why we consider carefully the value of
$3k or $6k spent...for me that would be CASH.  I don't have a credit card.  AND
as badly as I want to beLIEve in what I could learn at M5, I need some solid
proof that it is worth $18k to gamble (plus travel costs).

  Dale thinks I am an unteachable know it all.  He is wrong.  Quite the
contrary.  I am a sponge, if someone is truly TEACHING, not standing around
bragging showing no way to follow what they did to do what they have done.

  BUT, I am also cautious and want to know what I am spending money on, you do
this with properties, right?  Education is an investment and it too must be
quantified.

  The great and powerful OZ was really just a little man behind a curtain,
wasn't he?   And, didn't the rats just follow the Pied Piper cuz he played a
catchy tune?

  I asked my teacher at the 3 day this question:  "If you had $800k from a
building you just sold and you had to spend it by July, what would you do?"

  She said, "First I wouldn't put it in a 1031, that is too restrictive.  All
you have to do to avoid the capital gains tax is reinvest it within 9 months on
another income property."

  Well, 3 CPAs and 1 Tax Attorney have said NO WAY.  There is no tax shelter
like that and when the IRS catches up with you, you will pay the capital gains
tax.  That is a $160k mistake!!!!  Right out of the NRI 3 Day, from a
Millionaire Investor!!

  She also said we could use a 1033 or a 531.  1033 = condemned property-in a
nutshell....Am yet to find what a 531 is!!!  Does anyone here know?

  The answer I expected was something like:
  What is your goal? Cashflow? Upside?  Long term? Short term?
  Is that all gain?  yes.  Then it has to be a 1031 so you have to get going.
  Can't do new construction on long term build outs...won't close in six
months...hmmmm...  well... (Location) is going to be pretty hot really quickly,
but you can still get a good buy.  The rental market it good so, I think I would
buy 1 apartment building there and a NNN in a new business park in Phoenix...the
best place to get your tenant is ______ for the NNN.   And, I would find a good
management co for the apartment right out of the gate since it is far away from
you.   But, she dodged this question 3 times...as did the guys in the back of
the room, 2 who were supposed to be doing so well with their new found skills.
They just kept giving me a bunch of BS about how my client should be doing this
for herself.  I said, I paid the money for your guidance, I have the time to
come, I teach her.  So, what do you have for me?  Glazed over looks, that's what
I got.

  NEXT... there is a woman/student who NRI likes evidently traveling to all of
their 3 days.  They introduce her, she is charming and really beLIEves what she
has learned there.    She has James' phone number in her cell phone.  She loves
the guy!!!  BUT, she has been involved in the mentor program and they have
helped her to lose out on 3 deals that I could have mentored easily AND, are you
ready???  SHE LOST HER OWN HOUSE while affiliated as a paying student of NRI!!!!
No one in this benevolent organization helped her with that!!!   WHY?   She had
income.  They could have done an RTO with her, a quitclaim and cure....come on
guys anything!!!    To my knowledge, in two years she has yet to put together a
deal.  The easiest one, she should have made $5k minimum for having sold the
contract and secured her position in doing so, but no one could help her with
that basic deal to insure she got paid.  BTW, that one alone could have saved
her house.

  This is the TRUE basis of my skepticism and it goes on and on.

  There was also 1/2 a day on foreclosures which was taught using another
state's terminology, procedures and timelines.  That is totally irresponsible
for this level of expense.

  $1,500 per student, unless like me you paid $3,000 cuz u don't have a partner.
But let's give them the benefit of the doubt.  There were 50 people in my class.
That is $75k in income in 3 days, they do this many weekends per month in many
cities.  To us, it was about $80.00 per hour. Double that if you came alone.
The room and AV were not so great.  And, there was coffee, tea and water, that
is it.  Not even a snack.  Low class, if you ask me.    I am all for GOOD
training.

  I could help make this training good, so could another guy who actually does
train who was  in my class.  He approached the teacher with a bunch of
suggestions and she shunned him.   She told him her pay structure and then she
belittled everyone in the class saying, "look at these people, they don't get it
anyway, you can't throw too much at them".      She also told me, "I am ignoring
your questions because these people can't handle too many details right now, I
don't want them to get confused."  That is a pretty condescending attitude
against people who are paying your organization some pretty good coin to be
there, don't you think?

  That is CRAP.  All she needed to do was a few basic deals, take all the
questions the room had and teach the deal.  Teach finding, negotiating,
contracting, financing, closing, and exit strategy on a 6 different types of
deals in those 3 days and she would have had many scrounging up that M5 money.
Instead, I think 5-7 went for it.
  Also, they might have gone home and made that money easily so it would have
been easy to go on to the M5.

  PS I wrote these details and more to Dale in private, out of courtesy and
respect, in case I was just wrong about being unable to verify the deals.  He
ignored the WHOLE thing.  As an insider, it should have been easy for him to at
least check into the details of some deals she mentioned that I researched and
found nothing about.  But Dale, who has the link to JS didn't even respond that
mail.  It would have taken less time for him to do that than it does to dissect
every post on here.

  That's it.

  ***Can anyone tell me about a 3 day that was more than just a "Let's go kill
some birds, I am psyched-fest?"   Did anyone find out where the birds live and
what kind of weapons/rounds to use, what time of day?   How to cook the birds?

  LJ