We interrupt this blog for a chance for Vena to be P.O.ed
Posted by admin on Jun 13, 2012 in YouBuyHouses Blog | 0 comments
Hello all you happy buyers;
I thought you deserved a heads up on the scummiest new technique I’ve seen in…well, EVER, and how to head it off before it costs you money.
There’s this dude named Patrick who just launched a $97 e-book that should be titled “How to Break the Golden Rule and Steal Other People’s Private Lenders for Fun and Profit”.
For less than $100, he’s teaching your competitors to look up YOUR purchase transactions in the public record, track down your private lenders, and convince them to jump ship.
Clever? Only if you’re a scumbag who wants to be standing in the middle of the tracks when the Karma Train comes roaring through.
I only listened to the PITCH, and I’m so mad I can barely see.
The pitch is, and I summarize, because it’s over 20 minutes long:
“Private lenders are necessary in today’s market [true], but getting them is work! [also true] There are other people in your market who have done that work already [that’d be YOU], and it’s much easier just to write to those strangers and tell them that YOU have great deals you’d like financed [completely frackin illegal]. That way you’ll reap the benefits of other people’s hard work IN AN SEC-COMPLIANT WAY [impossible–there is NO sec complaint way to make specific offers to people who are not known to you unless you have a public offering, which costs in excess of $40,000 to file]. And I’m not selling you this information to make money [bullshit], I’m doing it to develop a mastermind group for private borrowing [Oh, PLEEEEEEEEEASE invite me to share ideas with a group of people who think this is OK]. So order now, and learn how to do unto other as it would piss you off a lot to have done unto you.”
Unfortunately, there WILL be people in your market who think this is just a swell idea–and they’ll mostly be newbies with no connections and no credibility of their own. So I suggest to you, dear buyer, that you IMMEDIATELY contact any and all private lenders you have with this message:
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Dear PL;
Please be aware that there’s a new “course” being sold that’s teaching people to find private lenders like you in the public record and approach them with “better” offers–higher rates of interest and so on.
If you get such correspondance, PLEASE THINK TWICE about responding.
Any “investor” who needs to do this rather than find his own lenders, or that thinks it’s good manners or business practice to approach complete strangers about real estate loans, or that MUST offer higher-than-market interest rates in order to attract money bears some serious investigation.
According to an article by my mentor, Vena Jones-Cox, the people most likely to take this tack will be those with NO track record (and therefore risky borrowers) or those with a bad track record (who’ve burned all their own private lenders and are now looking for others to take advantage of).
At the very least, their methods don’t conform to the Golden Rule; at worst, you could find yourself in the very unpleasant position of losing money.
Just thought I’d let you know that I am aware of and concerned about what’s being taught out there.
Yours,
Me
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I am just beyond disgusted that this Patrick guy is making money teaching people how to steal your resources. Real estate education has just hit a new low.
Keep fighting the good fight, and resisting the tyranny of idiots.
Vena
P.S. by Mr Drew- This dude says in his pitch that he is leaving this info up for a limited time because otherwise “unscrupulous people” may actually try to steal HIS private lenders. So it’s ok to snake lenders from other people, but if you try to take his, you’re unscrupulous. Funny and pathetic all rolled into one!