Wednesday, February 5, 2014

SCOTT YANCEY EVENT & PROP TREND

JOIN A REI GROUP (REAL ESTATE INVESTMENT GROUP http://www.reiclub.com/real-estate-clubs.php ). They often have free seminars (even SBA-Small Business Administration of the US government has free seminars), free check out libraries, or charge a very minimal price that pays for the room and refreshments. There are thousands of REI groups across the country and you should attend a few before you join any guru get-rich-quick program.  I do have to say that the majority of seminars that I have attended have repeatedly stated that you have to work in a consistent and aggressive manner to be able to use all the information and benefits that they provide. If you expect something for nothing you are going to be disappointed.

I recently attended a 2 1/2 day seminar put on Scott Yancey Events. It was somewhat disheartening to see so many people sign up for the more expensive “boots on the ground” training ranging from $19,997 to $39,997. I could tell from looking at many of the people that they were not wealthy and probably should have done more research before signing up. Many were seniors with dollar signs in their eyes much like those you see at the slot machines in Las Vegas, many not ready to put in the hours and energy it takes to succeed in real estate investing.
One of Yancey’s selling props or bate was the software Prop Trend http://proptrend.com/.  The website has free tutorials on how to use the software program so you can get a clear picture on whether it would benefit you. If you look back to some of my previous blogs you will see that I reviewed a program called Prop Stream http://www.propstream.com/.
The layout and options of Prop Trend are almost identical to Prop Stream so I am assuming that Prop Trend is an updated or proprietary version of Prop Stream. You can see a video tutorial online for Prop Stream at http://www.propstream.com/tutorial/ . The presentation is pretty dry and not very entertaining, but at least it is informative. They also allow you to download the manual for the program so you can see all the features. You can view Prop Trend Terms of Service http://www.similarsites.com/goto/proptrend.com?searchedsite=proptrend.com&pos=0

Yancey’s group makes a point to tell you that they are paying the one year subscription fee for access to the information provided by Prop Trend, but after that time there is a monthly subscription fee. Since the information is realtime, it makes sense that there is a monthly fee.

Now here is the clincher, neither website gives you the price up front for the software. When I called I was informed that to buy Prop Stream direct costs $495 for the software and $29.95 per month for the daily updates from the county assessors and tax offices, etc. This seemed like an extremely reasonable price for the features and benefits that the program can provide.

I tried to call Prop Trend and had to be handed off to a sales person who had to call me back. I was reluctant to give my name and phone number because I don’t like to get harassing sales calls, but I wanted to give you the price for the software if you buy it directly. I had a pleasant conversation with Clair Semrad (PMI) at Prop Trend and he stated their software costs $2072 for the software and a flat $200 per year for the daily feeds from the county, etc.

The real estate market is very hot right now so I understand why people are feeling that they HAVE TO join now, or start now. And it is true that one year ago was an even better market for new investors. But I caution any person who just starting to investigate investing in real estate that they should not sign up without researching the program and group that is providing the “seminar”. Many of the seminars are simply a way to get money out of you. Some are good, some are not so good. Some are better at fulfilling the promises that they make to you and some are disorganized and understaffed and don’t provide real customer service.

(For investment funding text "FUNDING" to 41411.)

23 comments:

  1. thank you for your advice on the so so seminars I am searching for the protrend software and i found your blog i come from a 3 day seminar and is exact what you said about . i will come back with more (my opinion) how went the rest of day 3.
    Filomena from R.I.

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  2. Filomena, how did the seminar go? Take you time researching the presenters and don't get conned into thinking that you HAVE TO JOIN NOW. There are many good programs out there. I wasn't that impressed with the Yancey group. I didn't like the way it was organized or the answers that I received to my questions. And if you have to pay more than $2000 for any program be extra cautious and research the company. What guarantees are they offering? Do you have 3 days or 30 days to review the program? Hope all goes well for you.

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  3. My husband and I just completed a 2 1/2 day seminar with Yancey group for $2000 and we were not impressed at all it just seem like one great big sales pitch to get more money out of us. I was a mortgage loan officer for 10 years and know about real estate funding. They could never answer my questions, just kept on pitching their next level of investment(between 20-40k). After I got home I got a follow up call, not to help me with the information and so call tools I received from the seminar but once again to try to get me to invest in their advance courses. The insiders cash funding program they offer may only help with a quick turn deal as you have to pay the 100% loan back in 1-3 days!!!! The underwriting guidelines are probably so strict that I will never get approved for a deal we will see.

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    1. I have to agree with your comments. Did you get the PROP TREND software? That might be the only saving grace from their program as it is phenomenal from what I have seen (I don't own it but own PROP STREAM which I received from THE FLIPPING FORMULA seminar which I think is very useful with real estate analysis.) I made a lot of mistakes with that first seminar. You might want to read some of my other blogs on the houses that I purchased at the seminar.

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    2. No I didn't get the PROP TREND software yet I was thinking about getting PROP STREAM which do you feel is best? I will look at your blogs as soon as I have a moment

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  4. Does anyone know of a good investment group we can look into?

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    1. You might find this website useful: http://www.reiclub.com/real-estate-clubs.php REICLUB lists investments clubs throughout the US and Canada. You are given contact information for the clubs including the address, phone number for contact person. Usually the address listed is where they meet so you contact those that are within you local area. Email the contact and they usually have a website that tells more about their individual club as well. If you don't see one listed where you live, you can always start one and get people together who have the same interest as you. I have found that most clubs have some small fee to join and/or there is charge per meeting. This is used to pay for the room and some refreshments at most of the meeting. As you can see California has 42 clubs interested so you can see California is a very hot market with a lot of investment minded persons.

      As to the PROP TREND software, I was asking if they included it in the seminar price that at least might have made the seminar more valuable for you. I can't advise as to which would better for you since I have only used the one program (PROP STEAM). I would compare the prices including the monthly or yearly price and see which one was better. Since I have been using REI BLACKBOOK, I dropped the monthly fee on the PROP STREAM after my year of prepaid service, so I am no longer using PROP STREAM.

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  6. I just completed my 3 day training seminar. And I have to say that my exspectations were WELL surpassed. See I have spent years and money on get rich quick programs, seminars, etc. Of course they are going to offer you more training that costs more money. Of course your going to have to work hard on your own. I feel like most people think for 2k that your going walk out with your first property sold and I truly believe that is how most people think. I walked out of that seminar feeling like have learned so much. I do understand step by step at least 8 different ways to buy and sell a home with out having to use my own money. And sure there is some fine tuning things that will take practice and hard work. But were else can you spend 2k and get someone actually teaching you, answering your questions, plus a one on one consultant to help you build your action plan and business plan. I do recommend anyone that wants to get a SOLID interductory to releastate and how to not need money to get started in relestate that this course is by far one of the best I have ever attended and I have been to at least 5. THERE IS NO SUCH THING AS A GET RICH QUICK PROGRAM.. EVERYTHING TAKES TIME AND HARD WORK AND THIS IS NO DIFFERENT!!.. YOU GET OUT WHAT YOU PUT IN! Don't give up.

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    1. Melvin:
      Thank you for your comments. I could not agree with you more--you get out what you put in with time and effort. Since I have not gone to the $2k Yancey workshop, I don't know exactly what they will tell/sell you, so if you feel you got your money's worth then that is a good thing.

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  7. I attended this program in Philadelphia, PA very recently and just like the few comments above have to agree that it was more of a sales pitch for their expensive training.

    The financing option that they boast about in their orientation program is a mere bait... They say there are 3 financing options but they dont go much into the detail of that because it is very dangerous to use specifically plan b and plan c. Plan B lets you find a fix and sell deal in 90 days and they fund upto 75 Percent. if you dont sell in 90 days, all of your investment is gone.. bust.
    Plan c: No one on earth will take that deal.. buying a rental property and financing at 12 % interest rate per annum along with many other fees. you have to be making a killing deal in order for that option to even make sense.

    advance courses will give you access to prop trend and to their summit where you can buy properties that they want to sell it of. I believe it is a purely marketing play with very little interest to educate people. what is more concerning is they make you extend your credit line on your credit cards as a way of making you believe that you are leveraging your financing options. Dont do that right away. There was guy who said he increased his credit limit from 9K to 25K online in a few seconds. I found that to be very very fishy. he could have been brought by them.

    Also, they let you have one-on-one conversation with the assistants of the speaker. I felt more like talking to a car salesman..

    90% of the session is prepared in a way you will believe that you need that training in order to even breathe next. It is very powerful in that sense.

    All that they teach is available in Barnes & Nobles for $20. Just check some books on wholesailing in Real Estate, Fix and Flip. Tax liens : how to buy them , Mortgage Notes : How to buy them.

    that is all it is.

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  8. Well I have to say so much negativity in all these review I have have reading about this group. Not saying they are not true, but I think you have to be objective here. I already am a Professional Real Estate Investor, have been for over 20 years, so almost 90% of their material discussed was all previous knowledge anyway.

    I went as support to a very loved personal friend of mine who is dedicated to a betterment of her life after having had two heart attacks recently during the 20+ years of stress she has put into a very high profile banking career. Lots of late nights, long days, long domestic and overseas flights, weeks on end hotel stays, weekend workshops and damage control had finally taken their toll on her body.

    I have been encouraging her to get into something more relaxing and not as time consuming. She knows what my profession is and how well I have done for myself without working as ragged a schedule as she has.

    She has even participated with me on a couple of transactions and made more money in 2 months working about 2 hours a day after she got home from work and typically all day Saturday than she did in 6 months of hard nosed 40 hour work weeks.

    She called me up and asked to to go to this Free event on a Sunday morning in Kansas City. I asked her what it was about and she told me it was the Yancey Events, Flipping Vegas. She only saw it and recognized the presenters in the local newspaper because she watches the program religiously every week along with several similar in nature because of her two successful transactions with me.

    I like so many others thought it might be an opportunity to meet the reality TV stars and perhaps have a small chat with them. Of course as you have already read, they were not there, so a bit disappointed but soldiered on anyway.

    The presentation was very professional and definitely geared toward attending a 3 day boot camp for $2,000 the following weekend.

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  11. We have just returned from that boot camp in Overland Park, Ks and I wanted to share my thoughts on the workshop.

    The workshop like most of these workshops are designed to up-sell, I told her that before we went so she would be prepared for that pitching and not get nervous over it, especially when they started talking about high investment costs in books, tapes, software and such. She handled it like a trooper, I must say.

    We arrived early on Friday morning, while waiting the Event Producer came over to us and greeted us as a casual conversation. He asked my friend her name and she told him, and then asked me me my name. He immediately paused in his prepared greeting speech became nervously agitated and asked why I was there.

    I told him I was here strictly as an observer and was invited by my friend as her emotional support. He then asked me as a professional courtesy that I not to hand out any business cards or literature promoting our company and I agreed. I was also asked not to do any training talks or other types of recruiting or marketing campaigns (conversation) while I was in attendance again I agreed.

    He then explained to me that in the past he had had several marketers show up strictly to recruit and hand out business cards and marketing material to come with them as they were less expensive than the Yancey Event would be. I informed him once again that was not my purpose and smiled.

    The religious connotations were everywhere in the marketing pitches and the entire presentation. They came though loud and clear to someone who has heard those types of pitches before in my Modern Wealth Strategies and Millionaires Club meetings, My Bulldog training and weekend retreat meetings and several others of that nature. So I had a pretty good idea of how the pitch would go and it went almost script perfect to the others.

    The presenter was very casual in his appearance, not overly dressed as a salesman, just a regular guy with a vast abundance of real estate investment knowledge and time homed creative capital creation techniques I was to later find out as the weekend event progressed.

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  14. The long and short of it, I was impressed with the presenters knowledge and his "direct and to the point" conversation tactics.

    No sales talk, except of course to pitch the upsell of the products. I had seen several of the prepared videos and heard several of the prepared segment short talks at other such events so was well aware of there they were heading with the presentation.

    The end result was this, I unequivocally picked up at the minimum an additional 10% of knowledge not from the prepared presentation but from the presenter's personal real estate investing experience. That knowledge (technique) gained will
    definitely transform into some serious cash in the coming weeks.

    To me the investment of the $2,000 was now justified, regardless of anything else. My friend was writing notes as fast as she could in her booklet, and was getting the "seminar high" as I call it.

    I was to later find out our hand picked mentor was the presenter's brother, what a coincidence LOL.

    She ended up investing in her new career as a Professional Real Estate Investor by purchasing the Diamond level pkg and as I know she will put 110% effort into it, she will be successful, I will make sure sure it.

    The package itself had several perks in it that give added value to money spent as an investment in her future. The other standard items have already been already discussed above and elsewhere so no need to reiterate those here.

    I would like to point out, I do believe they the company as a whole will deliver exactly what they promised and more importantly my friend will now be able to finally relax and enjoy her life she has worked so very hard for.

    I would close in saying this with all honesty, this course is a mixture of beginner, mostly intermediate and a lot of advanced training all in one jumbled ball.

    Regardless of the marketing hype, the newbie investor will have a very hard time comprehending a lot of the techniques until they put them into actual practice, as nothing substitutes OJT and doing the actual technique in real life.

    They should definitely not be afraid to call the mentoring line 20 times a day if needed, it is there, use it, benefit from it, you will without a doubt need a mentor to navigate the ever changing raging torrent of real estate investing.

    Her assigned mentor is as close as a phone call as per the companies promise as well as her Professional Real Estate investor personal mentor and friend.

    Together we will both make sure she succeeds

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    1. Thank you for your comments. It is always good to hear both sides. My main concern is for the inexperienced newbie. When they don't have an experienced "friend" going with them they need to be ready for the skilled hype and marketing that will get that $25,000 to $50,000 out of them for the higher levels of mentoring. I would say go to a number of the "free" seminars and investigate each group before you decide which one gives you the best return for your dollar. I made all my mistakes at the first 4-day seminar that I went to with The Flipping Formula and I am still struggling with one real estate purchase I made there. (See my other blogs on house from hell.) After getting the wrong warranty deed on the wrong property, buying insurance on the wrong house, going without paid rent for about 10 out of the past 14 months. I only found out I had all the wrong information when I was informed my actual house was going into foreclosure because the property taxes had not been paid since 2011. When I bought the house at the seminar it was presented that all liens had been cleared. Marquis Properties, the company that made all these mistakes cleared up the tax issue, and promised to get the house ready to rent after the renter got out. I will take back possession today. We will see what happens over the next two weeks and whether I can actually start to get a return on my investment. A lot mistakes that I will not make again, but I learned the hard way.

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  15. I'm in Australia and just completed an Income Education three day course, following a free seminar where the course was sold as a way of finding out all the ways we could profit for the real estate market in the US. Except for the first four hours, which were full of motivational and frankly a bit of bullying about how if you don't do it the way they want you to you're a nervous nelly who will never do well anyway, the course was great. Of course, they were trying to sell their 'system' which includes prop trend, boots on the ground and buying summits, BUT I feel like there was sufficient information given to get in and have a go. The mentor assigned to me was not much of a salesman and did nothing to get me to try and buy the program, but then again he did nothing full stop so that was not really a resource that was worthwhile for me. The presenter was Scott Lamm and I thought he was really good. There were about 30 people in the course and only myself and one other person didn't buy the advanced program which went for 20,000, 27,000 and 42,000. The really disappointing thing is that half the people who were there were quite old, many in their 80's and I'm concerned that they have purchased something thinking it will do all the work for them, or the company will. The event certainly seemed to be targeted at older people - I used an invite to the seminar sent to my Dad. I've no doubt the system works, but it doesn't do all work for you and I did go to the course expecting to be taught, not told that I had to buy yet another system for it to work.

    Would be really interested to hear if others are using systems like prop trend. We were told in the seminar that the only way you could get the software was through their programs, but it sounds like it is more widely available than that, although people seem to have a lot of trouble with it too.

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  18. I went to the Yancey seminar and three day work shop back in Nov and Dec and decided not to do the boots on ground . What happens after you don't attend and do they take you to court for money even though you did not attend training?

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