Russ Whitney Scam - Posted by pete everly

Posted by ChrisW on December 20, 2002 at 12:30:33:

What exactly is his name? Is it Jack, Joe, Jim, or John?

Are you saying that Mr. Reed himself is a hypocrite?
Everything he says is unethical and immoral he has done himself?

This is humor at its best.


Russ Whitney Scam - Posted by pete everly

Posted by pete everly on December 18, 2002 at 14:24:45:

Fellow investors,

I just came from a Russ Whitney introduction seminar last night. What a sham. Do they really think I’m going to believe them when they tell me that I can get a loan from a bank with bad credit. They say to start an account with bank #1 by depositing $1000, turn around and ask for a loan for a $1000. Then you go to bank #2, use that $1000 from bank #1, deposit there and ask for another loan. Take that loan from bank #2 and pay off the loan to bank #1 to establish “good relations.” Lo and behold, bank #1 will loan you tons of money. What a bunch of crap, but the sad thing was there were some suckers in the crowd believing this crap. Thankfully, it looked as though only 1 person out of 40 signed up for their $1590 course. he looked in his twenties. Of course, the three day course was originally over $4500 but Russ Whitney out of the kindness of his heart was giving partial scholarships that night. Yeah right! I hope none of you buy into these scams. Read lots of real estate books, rehabbing books, and the like. Be prepared to study as hard as you can to get what you want in life. I’ve personally studied meticulously over the past 8 months and I’ve done only one deal in that time, but I’m glad I took that time not to rush into things. I’ve only purchased one book in that time, and as a cheapskate investor with good credit (FICO=758) I can vouch that you can do it without all those seminars or systems. I’m glad I’d did that, although I was very tempted to pay those exorbitant prices to get rich quick. Trust me folks, real estate is not a get rich quick scheme. It will take many years before I can quit my job, but as I see it is a great hobby.

Re: Russ Whitney Scam - Posted by a thankful RW student

Posted by a thankful RW student on December 18, 2002 at 23:07:12:

This is pretty sad. Do you “bashers” have nothing better to do? Some of you sit her and post long winded trash and I wonder…how do you even accomplish doing any real estate at all? I went to several of Russ Whitneys camps and seminars so does that make me a sucker? I have two college degrees and I learned more about making money at his trainings then all the time I spent in college. By the way, it was a heck of a lot cheaper than two college degrees. One deal in 8 months…nice start and congrats, but don’t waste my time or anyone elses time with your unreliable opinions. I am now a full time investor thanks to what I have learned from Russ’s trainings and knowledge by doing. I have made more money in the last year than I ever dreamed possible and I had NO real estate experience. If you truly believe that people like John T. Reed have no agenda behind what he is doing then you are tragically naive! This is the only post you will ever see from me on this web site for two reasons.

  1. If the administrators allow you to post the crap you’re typing…I want no part of the negativity.
  2. Quite frankly, I’m too busy doing deals!!!

Re: Russ Whitney Scam - Posted by The Man

Posted by The Man on December 18, 2002 at 15:44:38:

Yeah, I agree with you. I went to one of those meetings. Did you have the washed hockey player pitching the system? Also, was Russ Whitney’s snot nosed kid there?

Re: Russ Whitney Scam - Posted by Ronald * Starr (in No CA)

Posted by Ronald * Starr (in No CA) on December 18, 2002 at 15:32:24:

Peter Everly-----

I think you evaluated it correctly. Thank you for your report.

I agree with you on everything you said. And doing one deal in 8 months is fine, I think.

So, as one admitted cheapskate to another: thank you.

Good InvestingRon Starr*************

Read about the Russ Whitney vs. John Reed lawsuit - Posted by scott

Posted by scott on December 18, 2002 at 15:23:04:


according to reed, russ whitney has been in jail and several other ‘interesting’ things. I think Russ bit of more than he can chew when dealing with Reed.

Joe G.–Go back to school. - Posted by Alison

Posted by Alison on December 19, 2002 at 11:11:33:

Dear Joe G.,

You are an idiot.


Re: Russ Whitney Scam - Posted by Elise

Posted by Elise on December 19, 2002 at 09:19:48:

First, thank you for sharing an opinion from the other side.

Second, would you mind telling me what kind of deals are working for you in this market? How was the transition to a full time investor?

Thanks in advance!

Re: Russ Whitney Scam - Posted by mike

Posted by mike on December 19, 2002 at 24:27:03:

Yeah, right. “Hi” Russ W. or Russ W. employee. “Bye” Russ W. or Russ W. employee…


Re: Russ Whitney Scam - Posted by pete everly

Posted by pete everly on December 18, 2002 at 20:46:06:

No, but there was this HSN type sales man pitching and after every sentence he would say absolutely. There was another guy who looked liked like a football player and you could tell he really knew nothing about real estate. Question is if Russ’ program is so good, then why are these people doing what they’re doing? Is it lack of intelligence? I think not. Real estate is not the brain game, but it takes lots of hard work that anyone can do if they choose.

Russ or Reed A Scam? - Posted by ChrisW

Posted by ChrisW on December 18, 2002 at 18:31:48:

Kevin Tradeau has been to jail too and so have other big name authors. I don’t think it’s fair to say something is a scam due to something that happend in the past.

I could be persuaded into giving Reed more credit if he wasn’t pushing his courses while downgrading the competition. It’s clear he’s not unbias in his views.

Mr. Reed references other gurus and authors on his site because it increases his site’s visibility with link popularity. By linking to related sites he gets points with the search engines. This is the only reason why he does it.

The Vaughns could do the same here but they chose not to.

Russ Whitney on the other hand is just offering a product to the market. I personally would never buy his stuff but then again I don’t have a need for too many courses right now. I’ve gone to one of his seminars and witnessed a handicap person scream out “Russ Whitney is a scam” right in the middle of the seminar. The man was rushed out by two police offers.

I give Russ a little more credit because he doesn’t need to downgrade others to make himself look good.


John Reed and Lease/Options, subject 2 - Posted by Phong

Posted by Phong on December 18, 2002 at 15:46:48:

John Reed said some pretty scary things about lease/options, subject 2 as well. What are your takes on this?

Not nice - Posted by Hank

Posted by Hank on December 19, 2002 at 13:09:11:

I’m not a Whitney fan, not even a little bit, but if you’re going to call someone a name, you should at least say why.

I wish the best to the tankfull RW student. Let’s hope he stays away from boarding houses, overpriced software and MPAP.

Re: Russ or Reed A Scam? - Posted by JD

Posted by JD on December 20, 2002 at 13:40:06:

Heckled by a Handicapped man, LOL!!

Re: Russ or Reed A Scam? - Posted by Ronald * Starr(in No CA)

Posted by Ronald * Starr(in No CA) on December 18, 2002 at 21:00:47:


I disagree with your contention that Jack “downgrades” the competition. He provides his view of various gurus. On the ones for which he is positive do you think he is “upgrading” the competition? He is helping educators that he feels good about sell more books, maybe in competition with Jack? Why would he do this? Does this make him a person to be admired?

I think that wishes to both sell more of the materials he writes and to help other people find the good educators and avoid the poor ones. And, if you have read much real estate education and heard the claims of speakers about real estate investing, I’ll bet you understand that there are a lot of so-called gurus who are scammers, dishonest, overly-enthusiastic salespersons. I have not seen Jack describe his own materials in a way that I would criticize or find dishonest. Not true for all the gurus, for sure.

I have not read material from all of the gurus he rates, but I have read some from many of them. His “recommend” ratings are, in my view very accurate. I, too recommend the people he recommends. Of the people that he “does not recommend,” I agree with him on virtually every one. There are a couple with which I do disagree–Bronchick and Kaiser. If you look at his recommendations, he usually gives you information about why he tilts one way or the other. If you read those reasons and feel that he has not gotten enough information to accurately recommend/not recommend somebody, then you can ignore that particular rating. I also disagree somewhat on his position that very-high-priced educational materials and seminars are to always be avoided and criticized. However, I do agree that there are a lot of over-priced materials which are sold to innocent beginning investors who don’t have the perspective to judge the quality.

So, Jack is a terrible person because he tries to sell his real estate educational materials on his website? Hmmm, well, sure we should all chastise people who try to sell things on their own websites, I suppose. That is the logic of what you present.

How many other gurus do you think have done time for criminal offenses? I’ll bet it is not many. I do believe that people can change over time, as they mature and get more experience. So, just because Whitney was a criminal when he was less than 20 years old, does not mean that he is now. There are varying opinions about his treatment of customers in recent years. But, I get the feeling that his average reputation is extremely low when compared to that of say Jimmy Napier, Joe Kaiser, or John Beck, for instance. And many other people, too numerous to mention.

I think your subject line is out of line. I don’t think that there is any doubt at all that Jack Reed is not a “scam” or “scam artist.” If your only complaint is that he does not like some gurus or the gurus materials, teachings, or prices, I don’t see how that comes anywhere near being a “scam.” I don’t think that you have to like Jack Reed. I’m not suggesting that you do. However, I believe in honesty and I find your subject line to be not honest. I hope that in the future, even when you criticize somebody, you will at least do so honestly.

Good Investing**********Ron Starr**************

Re: John Reed and Lease/Options, subject 2 - Posted by Ronald * Starr (in No CA)

Posted by Ronald * Starr (in No CA) on December 18, 2002 at 21:07:07:


What do you think of what he says? Have you read about the topic and the activities of people who have done them? There are some posts during the past month on this CREONLINE.COM main board website that discuss some people’s difficulties with them.

There is also the fact that this approach to investing, while around for a long time, has grown tremenously during the past 10 years, during an up-turn in the real estate market pretty much nationwide. If you stop to think about what is likely to happen when the markets go down, I think you will realize that the technique does have limitations.

I think some of his analysis and cautions has some validity. I think that his is a pretty extreme position, but that does not mean that he is wrong. He says that when you look at lease-options they seems to be, in effect, contracts of sale (also known as contract for deed, land sales contract, and other names in different states). I think that makes a lot of sense.

Good InvestingRon Starr*****

Re: John Reed and Lease/Options, subject 2 - Posted by Dolf Geaurinsky

Posted by Dolf Geaurinsky on December 18, 2002 at 16:21:21:

Reed has never done a lease-option deal himself, nor has he ever taken title to any property subject to an existing loan. Hell, Reed hasn’t bought any real estate since 1983! Reed should stick to attempting to write pee-wee league football books!

Re: Russ or Reed A Scam? - Posted by ChrisW

Posted by ChrisW on December 19, 2002 at 10:38:21:

>>>>>>>I think your subject line is out of line. I don’t think that there is any doubt at all that Jack Reed is not a “scam” or “scam artist.”<<<<<

Ron, it was a subject heading ending in a ?.

It was not a declaration of fact or opinion expressed.

I don’t have a problem with anyone selling products.
That’s just capitalism. Whether overpriced or underprice the market will soon decide.

Like you I have a problem with overprice courses that can be found for $15.

What I do have a problem with is people that say “hey this and this is a sham…or useless…but buy my product it’s only 19.95.”

I also have a problem with people that have not used subject tos yet criticize when others do…calling it shady practices and illegal schemes.

Too many assumptions based on nonesense.


Re: John Reed and Lease/Options, subject 2 - Posted by Phong

Posted by Phong on December 18, 2002 at 22:16:11:

I also think he’s a little extreme in his views toward l/o and subject 2. His “due-on-sales” section have caused a lot of concerns for me, a beginner. However, it helps put things in perspective and forces me to develop better plans and strategies. I feel that all beginning investors should read his stuffs to understand more about the risks involved as many gurus out there usually don’t give these risks the kind of attention they deserve.

I love the parts about of ethics and moral obligations an RE investor should have toward his clients. I agree with him in this aspect as too many gurus out there suggest otherwise. This topic is a little controversial so I’ll stop here.

Overall, I like John’s articles and materials a lot but it does discourage me a little bit. However, I feel that this is a good thing because it brings me down back to earth.

Mean while, do you think that I should be buy some of his books? They’re inexpensive enough but I don’t want to waste money on unnecessary stuffs.

Re: John Reed and Lease/Options, subject 2 - Posted by Phong

Posted by Phong on December 18, 2002 at 17:32:46:

But according him, he’s not doing that because of lagal issues… What is he doing now?