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(*Moderator note: Due to topic drift, this new thread was created by splitting it off from the Samuel Leeds thread*).
I was actually searching up for prices on Samuel Leeds' advanced course Property Tribes' discussion came up first on Google.Only heard about the guy few days ago. Because of his challenge video that come up on my feed. Have checked his content on YOUTUBE and this is what i do on the daily.His approach is a little different to my mentors but the content is valuable. And if you are already in property you won't even need to buy his courses to be able to apply this stuff and make money from it.The free content is enough.
What have you found to be different from his competitors about his content/ideas then Adam?
I didn't say it was different from anyone elses I said his approach is different from my mentors. He actually does and views the properties.For BMV deals I haven't had to do that it has all been over the phone and online.Unless it was a property I was keeping for myself then I would go check it out. Let me ask you something Adam. Do you not think the content given is valuable? Because the content he provides; you can at the very least use that info to source properties.
I've only seen his fictional staged entertainment videos on YouTube. I don't think he has any real ones.
Lol Okay then. That's your opinion. I just shared mine. Thought this was a property forum where opinions and ideas are shared. Like I said the content he provides is valuable and if one were to go out and take action on it they would get some results. I have personally done some of the things he talks about before seeing any of his content and it's not very hard just need to TAKE ACTION.
Can you give us some further information? There's a guy on this thread that was on his mentoring program that wasn't happy, so for balance, what did he suggest that you found useful?
There maybe a misunderstanding here, I have a mentor of my own (NOT WITH SAMUEL LEEDS). the free information on YouTube he shares alot of it is common knowledge if you're involved in property.But if you have no knowledge of the industry then the content will definately give you a good insight. Also there are videos he has on there which give you hints and tips on how to find and source leads which is resourceful and some of the hints and tips he talks about I have been doing my self. Such as trying to find direct sellers instead of agents, actually picking up the phone and contacting people and being totally honest and upfront about what you are looking for and what you want to do etc.Like I said I can't vouch for his mentor program as I have not been on it but if you watch, take notes and take action on the free YouTube content then you will at least get leads.From what I have seen he seems genuine and is giving out value and tbh i just wanted to compare prices of his mentor program with the one I am on.The first three months of being in my program armed with all the knowledge and tools I didn't take action and guess what I did not get any results. Only when I took action and applied what I had learnt I got results.Personally I have seen people go from one course to another spending a fortune and then complaining they haven't got anywhere yet. But those same people have never taken real CONSISTANT action.Whatever you decide to do. You should do it whole heartedly and commit full on and after grinding 12 months non stop applying the knowledge you have learned to achieve the results you want.Only then you can truly say if it works or not.
Hi Adam,Thanks for joining the discussion.For clarification, are you saying that you have become a deal sourcer, and if so, that you source deals for other people that you have never visited or viewed in person?You say you have achieved results from mentoring - could you share what those results are?For the record, this is a landlord forum and our discussions centre around being a landlord and all that entails. Being a deal sourcer is not the same as being a landlord. It's starting a business that is sourcing a commodity - it could easily be cars or some other commodity - although the parameters you use to source a "good" deal and the methods you use to do so are of interest to this community.With regards to deal sourcing training, if someone is hugely successful at sourcing deals, why would they give you what amounts to the six numbers of the lottery for a few hundred or thousand pounds, while creating more and more competitors for themselves? In Samuel Leeds' case, he uses his students to source deals for his business, which to me is like the blind leading the blind. I struggle to believe that this method produces good quality deals and I fear for his clients and indeed the client of any newbie who has been on a training course and has no real experience and who is likely to be un-compliant in their business operation. I completely agree with you that, in any business endeavour, you have to commit to it and take sustained and intelligent action on a daily basis. However, if what you are taught does not work in reality and/or the current market conditions, it can be very hard to keep flogging a dead horse and then its best to realise that quickly and stop wasting your time.
Vanessa Warwick Landlord and Co-Founder of PropertyTribes.com **If you have got value from Property Tribes, find out how you can support it in remaining a free to use community resource**
Hi, I understand what you're saying. The question to your first answer is; yes I source properties but I do plan on becoming a landlord. I am building my cash pot to invest in a property I will most likely source for myself.In the case of Samuel Leeds from watching video testimonials on his channel it seemed they were sourcing properties for them selves and Samuel was just teaching them but like I said I cant say for certain as I have not been on any of his courses only watched his videos.To answer you're question about success of deal sourcing. I secured two properties in December. One 26% BMV and one 18%. I didn't act fast enough on the 26% BMV property as in getting out to enough investors and depended on one person who ended up circumventing me (lesson learnt will be making sure I get investors to sign NCNDA forms before showing them the properties from now on) and the second deal just has been completed.But this after 3 months of knowing what to do. I could have been doing deals way sooner but I didn't take action in the beginning. By that I mean I did all the paper work and setting up of the business all fine but I wasn't doing the part of the business which brings in leads and secures deals. Which was talking to people, I'll admit I was a little nervous and anxious at calling people to the point I didn't for weeks despite having the knowledge and a background in sales for some reason I was jolted with fear and anxiety but with the help and push of my mentor I eventually did and coming across that barrier, going a little past my comfort zone has made me realise how taking action is the fundamental to success. Any how before I blab on any longer for those reading I realise one deal is not a lot lol but it is a milestone for me.I have sourced a load of leads but a few have fell through after doing some due diligence but I would rather something fall through than come and bite me in the back later. If anyone is planning on doing this sort of business all I would say is be honest and transparent in all your dealings and do your due dilligence. Protect your self and the people you deal with by using good solicitors and legal documents.
You have done well . 26% BMV is a massive find
Can you share details please of your deal ?
We can then analyse it and do some DD of our own on it
I must say I struggle with the concept of a 200K property being acquired for 148K
I would know of many investors who would pay maybe 178K for that if the true MV was 200K
They would get a healthy 22K off which is a nice slice
A seller who therefore gives away an extra 30K on top of that to a stranger must surely be a fool or being duped or too rich to care
But we need to check the veracity of this 26% BMV first so please share - Thank you
Jonathan Clarke. http://www.buytoletmk.com
Hello Jonathan. I actually looked at going on to your mentoring program when I was looking around your name had poped up a few times. Anyhow:
The property i sourced was from a seller who had property portfolio mainly around the Burnley, Blackburn area. The seller put on a property on gum tree which I called for, however that had already sold but he mentioned he was going away migrating to Dubai and had more properties to sell if I was interested. So I requested the info for the remaining properties one in darwen asking price was 90k. Another in burnley asking price was 35k. I usually try and get 20% bmv I offered72k for the 90k property and 28 for the the 35k property. He rejected the offer of the 28k and after abit of negotiations on the phone accepted the 72k offer.
It was only while making the brochure I realised how much of a discount I had really got on the property, as the actual value of the property was 98k. So instead of 20% I got a 26% discount.
I secured this property at Christmas time, presented it to a few investors one of whom actually circumvented me. Which was my fault as I had not got him to sign a ncnda form and disclosed full information to him trusting he would be decent enough to not do that.
Finally my sourcing fee was 3k for this property (which I never got because as I mentioned I had been circumvented). It's not viable for an investor to find a property for them worth 98k and sell it to them for 88k. As you have to consider deposit for the house, solicitor fees and any work that needs doing on the property. Charging low fees for sourcing allows the investor room to use that discount to their advantage. In all honesty you can walk into any estate and get 5%-10% off most properties this is why we look to get that 20% mark so its appealing to investors. They are not readily available in the market and takes effort and time to source which is why investors are willing to pay someone like me when these properties are found.