Posted by Joe Miller on January 11, 2008 at 15:05:30:
I would like to bring to light of a company operating in the Pennsylvania and Ohio area under the name of “Real Estate Riches”. Just recently, the company has changed its name to “Jim Toner’s Wealth Builders”. Jim Toner’s program is a three day course on real estate investing. At a cost of $7,500, Jim Toner claims his course reveals the secrets “The Rich” use to amass their fortunes. Now, I don’t know if you would call the following “secrets” â?¦ maybe just common sense when investing in real estate.
Secure multiple lines of financial resources.
Prospect for under-valued properties.
a) Work with a real estate agent that understands what types of properties you are looking for. To help you determine under valued properties a good agent can furnish you with market listing comps. The real estate agent should be willing to submit low bids on your behalf.
b) Calculate renovation costs with a 30 to 40 percent mark-up. Keep in mind, the renovations must be in-line with the market value of the proposed property.
c) Determine if the property with renovations will attract buyers at your targeted selling price. This is a gray area in the decision making process. You don’t want to over price the property if the market area doesn’t command it.
If your serious about real estate investing, you must be diligent. After all, real estate investing is in a constant flux and to be good at it you must keep abreast of promising market areas, as well as, network with like minded people. A three day course doesn’t make you a real estate investor. In the field of real estate even the pros are still learning everyday. Just like any endeavor in life there are highs and lowsâ?¦.hopefully the highs will get you through the lows.
Real estate riches is offering a class and 90 day mentoring course in Houston, Tx. which I am very interested in attending. They appear to be well established on the East Coast, Pittsburgh area. I have done my research and and have found out very little about the company or their president Jim Toner. I am simply doing my due diligence. Any feed back would be greatly appreciated.
Thanks
Ellis
He is holding a course in Indianapolis soon. I am also trying to do some due diligence and can find very little info on Jim Toner…interesting! Appears to be on up & up - but there has to be some negative feedback on his course.
Re: Real Estate Riches Mentoring Course - Posted by Todd Travis
Posted by Todd Travis on March 27, 2008 at 20:32:46:
Save your money and stay away from these seminar people - I bought Carlton’s course in 1996 and bought my first rental property with $200 out of pocket,(sorry, not a no money down deal) then rented it for about 10 years, making around 150 per month, and cashed out for $16,000. I have bought and sold 7 other properties since then. I think I spent $99 on Carlton’s course. Ellis is right- Go to the local Riea and mingle. Stay away from the Jim Toner’s of the world
Re: Real Estate Riches Mentoring Course - Posted by Joe Miller
Posted by Joe Miller on January 11, 2008 at 18:43:43:
I would like to bring to light of a company operating in the Pennsylvania and Ohio area under the name of “Real Estate Riches”. Just recently, the company has changed its name to “Jim Toner’s Wealth Builders”. Jim Toner’s program is a three day course on real estate investing. At a cost of $7,500, Jim Toner claims his course reveals the secrets “The Rich” use to amass their fortunes. Now, I don’t know if you would call the following “secrets” â?¦ maybe just common sense when investing in real estate.
Secure multiple lines of financial resources.
Prospect for under-valued properties.
a) Work with a real estate agent that understands what types of properties you are looking for. To help you determine under valued properties a good agent can furnish you with market listing comps. The real estate agent should be willing to submit low bids on your behalf.
b) Calculate renovation costs with a 30 to 40 percent mark-up. Keep in mind, the renovations must be in-line with the market value of the proposed property.
c) Determine if the property with renovations will attract buyers at your targeted selling price. This is a gray area in the decision making process. You don’t want to over price the property if the market area doesn’t command it.
If your serious about real estate investing, you must be diligent.After all, real estate investing is in a constant flux and to be good at it you must keep abreast of promising market areas, as well as, network with like minded people.With this said, a three day course doesn’t make you a real estate investor. In the field of real estate even the pros are still learning everyday. Just like any endeavor in life there are highs and lowsâ?¦.hopefully the highs will get you through the lows.
I took the course in Pittsburgh last fall and just acquired my first property. I always had an interest, but just didn’t know how to execute the steps in the correct manner. I just didn’t have the guts to dive into a large investment. Their course explained everything I needed to know and conquered my fear of investing money, and it’s not even my money! Then once we found a few properties we were interested in, the trainer from the course came out and inspected it with us to make sure we didn’t overlook anything! We then used their preferred vendor list, which is a list of contractors, bankers, and agents etc. that have a history of treating people well to establish our LLC and rehab the property. Great course that sparked my brand new real estate LLC with many more properties to come now that I know how to do it! Yes, it is a bit of money, but well worth it once you realize the benefits.
Re: Real Estate Riches Mentoring Course-Good! - Posted by Jack E
Posted by Jack E on November 29, 2006 at 17:10:53:
As I have said before and I know the owner. They have put together a good course designed to educate and help the guy or girl who just can’t do it themselves. If you really need help and cannot do it yourself, this is at least one of those that could bring you success. Jim is great, the rest of the cast, I really don’t know. Could we get comments from some one who has gone thru it?
I’ve been to their slick talking seminar awhile back just out of curiousity, I wasn’t really impressed because the stuff that was being taught, I already knew. The idea of spending $9500 for a mentor is beyond stupid. Sorry to offend those who are considering, call it tough love and you will thank me later trust me. It’s true though. That is why your local REIA is NON PROFIT ogranization. REIA’s were created by investors for investors to help investors. I can spend $20 a month or $240 a year to go to my Baltimore REIA, and I will have access to everything that Real Estate Riches claims and I will save $ 9260 in which I could use for my real estate deal. At your REIA, you can network with other investors make contacts, building your support team, buy or sell properties etc. Funny how RR talk about their vendor list. Once again, its nothing to brag about. At your local REIA vendors attend monthly promoting their services. Bankkers, Hard Money lenders, Contractors, Home Inspectors, Exterminators, Realtors, Property Managers and every professional service related to Real Estate investing are there. So anybody who wants to plunk down $9500 ask yourself these very simple questions first.
What makes Real Estate Riches superior to Real Estate Investment Associations?
What type of connections do Real Estate Riches have that aren’t present at your local REAIA?
Have you even heard of a Real Estate Investment Association prior to hearing about Real Estate Riches?
There is a very logical reason why Real Estate Riches knock the “gurus”, its because RER are trying to sell a competing product. The one good thing I can say about the GURUS, you can buy their courses and ask fellow investors to fill in the blanks or help you in certain things you don’t understand.
If you are a newbie and is scared. All you have to do at your local REIA is open your mouth and talk to an experienced investor, and more then likely he or she will be glad to help you along. They won’t try to milk you for $9500, some investors will help you along just out of friendship among fellow investors. I know I got long winded, but the bottom lines become involved in your REIA and SAVE YOUR MONEY FOR YOUR FIRST DEAL!!!1
The next time someone sees Jim at one of his seminars, ask him, how many cash flowing properties he CURRENTLY owns. You might be surprised at the answer.
I attended the free Real Estate Riches seminar in our area just last month, haven’t decided yet about whether I want to sign up for the mentoring program. Do you still feel the same way since your Jan 07 posting ?
Re: Real Estate Riches Mentoring Course - Posted by puck 30
Posted by puck 30 on November 28, 2006 at 21:37:29:
Hey Nestor, Hey Ellis, I too am interested, they were big in the Allentown area, on the radio and everything but. I haven’t seen or heard anything from them since the begining of Nov. They have an office in Warminister, pa. I have the address so I’m going to go scope them out. Thurs. or Friday. So look for my posting over the weekend. Have no idea about these guys, The local station in Allentown and is owned by Clear Channel which will sell advertising and sell on-air blocks to any “Joe Bag of Doughnuts” that has the cash. There is a slimmy, scum suckin’ internet provider that buys up huge blocks of time on that station. But I digress. They were running a info show on 1210-am out of Phila. on Sunday night around 7:00 P.M. 1210-am (The Big Talker). The station streams on the internet. Like I said I don’t know but I’m going to find out, and when I do I’ll post. Hey maybe thier not snake-oil salesmen. Maybe they were sent from God, Damm, you mean my prayers are finally answered?
Re: Real Estate Riches Mentoring Course - Posted by Paul Strauss
Posted by Paul Strauss on May 28, 2007 at 20:06:02:
I have had the pleasure of meeting Jim personally (well, by phone). I actually have a phone appt. with Jim tomorrow. He came well recommended- I can’t be specific on a public message board about some names of friends and associates-- but if you continue your due dilligence you will no doubt discover that Jim is associated with the top real estate investors in the country and heavily involved with some incredible charitable work going on in the world today as a result. Be resourceful, take the clues, and continue your research…