Anyone heard of John T. Reed?

[wallacehobbs]

Hello to all,

Hope you are having an awesome investing day.

A friend of mine just sent me this website?

http://johntreed.com/Reedgururating.html

I was just wondering what anyone knows about him?

I see he rates other "gurus" and was wondering what expertise does he have to do so.  His stuff (with a quick read) seems detailed.

Thanks and let us know what you know?   ???

[BoboTheKing]

The one thing that I first see is that he is commenting on his competition. He may be correct on some of them, but in all honesty, how can he possibly be completely objective? It's like asking Pepsi to do a review on Coke.

[reoconsultants]

The guy is right on about some people on the other hand the only person he really likes is his own mother!! I think he is a little to hard on some gurus! On the other hand I have read some of his stuff and can say I do not recommend!

[Swirlaze]

..

[reoconsultants]

And I can probably relate. I'm 18, no job, no credit, nothing except will and character.

And how long have you been studying? I know you have been posting on here for awhile! I like that alot! I am impressed! I bet you can do it! I bet you can buy a house with your own credit and get 10-25% back in 60 days! I bet you could bring your credit score to around 650-700 by september 1st and I also bet you could have your own credit cards with 5k balance by then!

ALL LEGAL!

[BoboTheKing]

I tend to stay away from negative thinkers like John Reed. Whether he knows or doesn't know what he is talking about, negative thinkers don't do anything except drag you down. If I want a negative thinker, I have a lovely ex out there to talk to. If someone keeps telling you that you can't do something, eventually you will believe it even if it isn't true.

Read the quote at the bottom of all of my posts, it is 100% true.

 The number of deals you can do without money is less than deals you need some money for, but it is not impossible. I highly doubt every investor in here had good credit and money when they first started. Of course, common sense will tell you that it will be harder, but don't confuse harder with impossible.

My personal example is from 1997, I ran an ad, low cost, and had a deal lined up. Health reasons prevented me from completing the deal, but I had a deal to option a house for the mortgage balance of 68K, with a $10 deposit. This person hated realtors for whatever reason, and all he wanted was to have his mortgage paid off in full. He didn't care about anything else, he needed the mortgage off of his credit report in 6 months, because he had a business opportunity. The house was worth 90K at the time, and I could have put it up for 85K and sold it in a week. All for a $10 deposit. Only a health issue prevented me from doing it. By the way, I took 75 calls before I found this deal.

My point is this...there are ways to get started with no money...if there weren't, a lot of people would have never made a cent. My example above is one, birddogging is another. John Reed has opinions on some gurus, and some of his points are good...however, don't let the John Reeds of the world tell you that it can't be done, because he is wrong. There are plenty who do it without lying and cheating. If you hear someone tell you over and over that you can't do something, eventually, you will believe it.

[wallacehobbs]

I tend to stay away from negative thinkers like John Reed. Whether he knows or doesn't know what he is talking about, negative thinkers don't do anything except drag you down. If I want a negative thinker, I have a lovely ex out there to talk to. If someone keeps telling you that you can't do something, eventually you will believe it even if it isn't true.

BoboTheKing..

I must say I agree with you 100%

Here is something True but strange..

If you put a crab in a basket alone it with no top it will crawl out everytime..

If you put 3 or 4 or 5 or more crabs in a basket you will not need a top on it..

Everytime one tries to crawl out another crab will grab its back legs and pull in back down into the basket with the rest of the crabs.....

Hummmmmm  

[alaskainvestor]

John T. Reed is an "in the box" thinker.  That is why he believes NMD deals are impossible.  According to a poster on another forum, he criticizes one "guru" for the type of envelopes he uses... ???

[$Cash$]

John T. Reed is a dynamic marketer, I mean he has a web site which should be named "The Naked Real Estate Tabloid" like the ones you see at the check out counters in the supermarkets,  where inuendo abounds, Pitt seen with Britney smooching in their secret Subject To house or one of the Midget Twins is actually Carleton Sheets.

Think about it if you wanted to sell your own material and wanted to discourage people from buying others products then just knock the hell out of them on a web site.  Brilliant I say, who would go to his site if he said all my Guru friends have great courses.

He is also recommended by the National Association of Realtors, however I did just see where they are being sued by the Department of Justice for Anti Trust violations.

Got to give this guy credit where credit is do, but speaking of Anti Trust, never mind.

John $Cash$ Locke

[Roger J]

Since we're talking about negative and "in the box" thinkers...

Swirlaze,

I don't know if your post is real sob story or a tongue-in-cheek response.  However, if it's the former, then I'd suggest that you stop reading Mr. Reed's stuff and start learning how this business is played.

If no money down deals are impossible to do, then I must be Superman!  Not only do I buy with no money down, I usually get a good-sized check at closing when I BUY.

How?  Simple really.  I chose to learn how to do, rather than sit around whining that "it can't be done."

Raj

[alaskainvestor]

Myself, I have bought six houses using NMD techniques.  I have done a few wholesale deals and a couple of sub2s.  I am 20 years old, have horrible credit due to a past car repo, and live(d) off of my wife's income-she is a wonderful woman to support me so well, when nobody else in my family did.  They were about as negative as you can get towards me not having a "regular" J.O.B.

I would have had more deals at the beginning of my investing (I just started at the beginning of this year) had I been more knowledgabley about little things happening, that I didn't think could happen to me. (dang sandwich L/Os!)

I am totally honest with every seller I meet.  I tell them I plan to make a profit from buying their house, as that is how I keep my family fed.  As long as they get their problem dealt with, they are absolutely fine with it.

I have yet to use conventional financing, and I am not totally sure I ever will...Only time will tell.

Good luck to you in the future Swirlaze, .

-Ryan

[niravmd]

john t reed comes off as a bitter old man. he is.

however he has an mba from harvard and his books on real estate are simply SUPERB!!!

don't let his grouchiness stop you from reading his excellent books.

and his bashing of russ whitney is always good for a laugh!

[alaskainvestor]

Raj

It is a real story, I wouldn't call it sob and it certainly isn't sarcastic.

I am saying this because from what I have seen and heard, in fact, one seller even hung up on me immediately when I said "I'll be getting the down payment from somewhere else". That kind rejection really made me feel bad. It actually made me wonder, is NMD a fraud?? I mean, MLM is legal, but it is a fraud too. And I use fraud in definition as dictionary term; "A piece of trickery; a trick."

I see it as tricky, not illegal but harshly tricky.

And as for business being learned, oh boy, trust me, I come from a business high school (albeit having dropped out of it), and I have been learning about real estate since I was VERY young. In fact, I dare say I started learning younger than when everyone in this forum learned. I started learning at around the age of 10. Noone in this forum started any younger.

All the learning in the world doesn't mean a thing if you can't find the deals.  It is all about marketing, marketing, marketing.  That is the most important thing in the world when you are an investor.  Sure you may know 50 different ways to structure a NMD deal, but it doesnt mean a thing when you don't have motivated sellers calling you.  Just my two cents.

[niravmd]

Just curious, how are his books good?

And how is bashing Russ funny?

how? ???

[Roger J]

Swirl,

You're missing the point.  What you've been doing for all these years is READING.  You really haven't learned anything.  How can I say that?  Because from your posts, it's clear that you don't understand the process yet.  And until that little light goes off in your head on that process, you'll never ever really learn how to do this.

You never say to a seller that the money will come from somewhere else.  Here's a lesson, the money ALWAYS comes from somewhere else.  Even if you pulled $100K out of your pocket, it had to come from somewhere else.

Also, No Money Down (NMD) isn't that hard.  If you qualify for a conventional 100% financed loan, then that's a no money down deal.  You personally did not have to come up with a dime of your personal/business funds to buy the property.

If you get a partner that qualifies for 100% conventional financing, and you set it up to split the profits, again, that's a no money down deal.  NO MONEY OUT OF YOUR POCKET is what no money down means.

If you're still saying "is RE realistic?  Can this really be done today?"  then again, you haven't learned anything yet.  Real estate investing has made millionaires out of more individuals than any other single strategy in the world.  You routinely speak to several right here on this board.  If you're a member of a REIA group, you've probably sit next to a couple and didn't know it.  If you've ever been to a RE convention, you've been surrounded by them.

You haven't learned, because as Alaska said above, marketing is the key.

Finally, though it may sound a little harsh, the real truth is that real estate investing is NOT for everyone.  Some people simply DON'T get it, don't understand it, and won't be able to do it.  Hey, I've been doing this for years, have made more money in it than anything else I've ever done (including managing multi-million dollar companies), and until just recently, my mother was still cutting out jobs in the want ads and sending them to me.  Why?  Because she doesn't get it.

Raj