I have been wanting to write this for a long time. Moe people should. I will start with I am fully responsible for my decisions. I “heard, believed, wanted” what he presented. I heard it as a partnership-he would put up in the money, do the heavy lifting and we would own a property together. Of Course he made it sound “easy” troll the property websites-call brokers and there you are…more properties than you can handle. His 3 day classes are great. They are packed with information. I came away thinking “Wow a partner-money-I can sign on to this” I was lead to believe(and again I take responsibility that by paying the 15k would be partners). I asked if you were not a platinum member would you consider deals? His comment was, they will have priority and my attention. Little did I know that if you came across one of those deals amidst the 100 he would JUMP at the chance to be part of it. | I found a deal on a self storage that had been on Loopnet for a while. I called and had a conversation about possibly doing a master lease and they were open. I was nervous about negotiating the deal and Terry said he would do the heavy lifting. I set up a conference call between the owner, brokers. Terry and myself. He proposed the ML very cooley-almost arrogant not building a bit of a warm and fussy with the owner to like him and want to do business. I sent the owner and intent to buy. They came back with some requests. I do not think they were deal breakers, however Terry did. The deal was off. We revisited the deal 6 months later..seller came back with some mods-again I thought they were reasonable, we countered and it was not accepted-end of deal. My portion would have been 30% and I offered to be the boots on the ground. | I spend 6 months scouring all the websites they gave us a list for. I contacted brokers to establish relationships. I sent out emails. The “GOLDEN LETTER” IS CRAP. | Here is what I learned and came to understand: | His 3 day seminar is to make/get bird dogs. THIS IS A FULL TIME+ JOB!!! | You need to cull through many properties on websites to find one that has potential. | Trust me there are few that meet the criteria and the ML/seller finance terms. | If you are fortunate enough to find a propery/deal on the web and you get done negotiating chances of the deal ever happening are slim. So he will go along and agree to the deal, negotiate it knowing that it will probably never happen. | To actually find a deal here are some of the things you will need to do-these can hardly be done part time with a job . | -Direct mailers to property owners-it takes approximately 7 times of contact to establish a | relationship. | -Pound the Pavement-go property to property hoping to stumble on a desperate seller. | -Establish relationships with Brokers. They are not going to give you their pocket listings until you have made that relationship. That means calling them on a regular basis, having | credibility that you are a “serious buyer” | -Go through public property records to find mortgages coming due, then contact them. | 5. You will need to cull through 50-100 properties to find the “diamond in the rough” | Who has time for that with a job? | The tapes you get with the program are good. Many of them repeat what you learned in the 3 days. The “Quick Flip Commercial” is a joke. If you have worked your a*s off and found one-you would then need a buyers list, which is a whole other lengthy process to build. Nothing about Commercial is Quick. | The 15K I paid had 6 week 1 day exclusive coaching –that was crap-I already knew all he had to teach and coach on. What a rip-off. | I focused on self storage. Probability of vacancies and mismanagement good as well as turn around prospects. I found another one in a great area that I could get a SF on w/20% down-that was 600k..huge upside. Not even up for consideration with that $ amount. He was indignant at the mere suggestion of that kind of down payment…where’s all that cash he has from investors? | Apartments were challenging- those with low vacancy needed work/money to get them up to filling-Terry does not want to SPEND MONEY ON REPAIRS/ UPGRADES ETC. I found an apt building in Atlanta….They had a fire and some units needed to be repaired-really not that much and the upside rents and cap were great. It could have been had on a ML or SF. He did not want to spend the money to fix-peanuts compared to the return. He said “there are better deals out there”. | On Mobile Home Parks…he said to look for those that had “units/boxes to be filled” and do a ML/SF. I have been looking for a MHP for 2 years. Trust me to say there are no “move in ready” trailiers just waiting for a savvy owner to come into fill. The reality is they are in bad shape-either costing a lot to fix or needing to be demoed. Many parks have vacant lots…there is the opportunity, however you need to put a home on it $7-$15k. I have since focused on buying a mobile home parks. If the above exists some newbie is not going to get it. | The Phone…ahh…he can only call you, not call him. You must contact through website. | what mentor makes themselves that inaccessible? | His Email Marketing-It rolls around on a cycle-no problem. He “promises” revealing a secret and yet never seems to cover the “secret in the call” | When on his emails or classes has he ever talked about “The deal he did with a student” | I have heard none!!!!! Doesn’t that make you wonder if you can do a deal with him? | After my 6 week 15k session he tried to sell me “take it to the next level.” He told me he was stepping up his marketing to high net worth investors. He was going to up his model so that when trying/negotiating a deal we/you could go into it with 50% down. WOW…that would be a game changer! I emailed him about 6 months later to find out about the status. He was evasive and alluded to it only would apply to his 30k members. My guess is if you found the deal of the century the money would be there no matter if you were part of that elite club” | He said he was going to do video marketing to reach a larger investor audience. When I tried to YouTube or find it I never could. | Interestingly I found an ad on Craigslist of all places where he was advertising for investors on a land deal….It was hardly in a great place and in my mind a more difficult long term deal in that the objective is probably to sell off pieces. My question is “If you were such a guru/commercial investor why would you be trolling on CL for investors? And Why would you choose a land deal? | My conclusion is that he makes a living on training/mentoring and possibly a few deals here and there. He says he does not need to “teach” however he does one each month religiously. | I believe he makes his living off his 3 day seminars that lead to people signing up for his program. In my group there were 3 of us. 15k X 3= 45K. That’s what I would call a nice living. I would gladly give up 3 days 1 x per month and 1 hr 4 x per month on phone calls to make that. Even if he only has 1 per month sign up that is 15kl…..Could you live off that-I could. | He is secretive and not available to his students…There is no transparency. He never pub lishes his deals so that we can see that WOW this can be done. If you google him, he is hard to find. | Since that class I have refused to pay for any education. | If a trainer is credible they will be very visible on social media, linked-in, their own websites, facebook, pop up adds when looking at other real-estate sites, blogs, articles published, heavy marketing…his only marketing I have seen are the 1 weekly email “with secret sauce” It is only a couple lines and hardly professionally put together. | I am surprised there are not many more complaints about him….it makes you wonder how he gets them deleted?
- Name: Terry Hale Real Estate Training
- Country: United States
- State: California
- City: Los Angeles
- Address: 8939 S Sepulveda Blvd Ste 102
- Phone: (323) 844-0787