I went to a Charlotte REIA (Real Estate Investers Association) meeting the other day. It was unreal. I thought that used car auctions at places like Adesa in Charlotte, NC were bad, but the Charlotte REIA takes the cake and makes the used car auctions with all their shady used car dealers look like a boy scouts camp or get together.
The Charlotte REIA starts off innocent enough with a pre-meeting area where vendors can display their wares or mostly services in this case. The vendors cover everything from insurance and title check companies which are usually on the up and up to people like Larry Goins and ForeclosuresDaily.com and others hawking their free education seminars.
Watch out for these “free” seminars because there is little if any real information given out at these seminars. Mostly they just try and convince you by by lying to participants and telling them how much money all the people that attend their paid seminars or buy their expensive dvd and cd collections are making. They also will lie to you and tell you how much money they have made directly from buy and selling or flipping real estate.
These are all lies as all of these shady business people make almost all of their money from poor saps falling for their lies and purchasing their basically worthless seminars, dvds and cd collections. If these expensive seminars, CDs and DVD collections really worked don’t you think the real professionals would be buying and attending them? Ever wonder why none of the real professionals that are making money in real estate don’t ever attend these paid seminars or buy the expensive dvd collections?
The answer here is simple – they don’t work and all they do is arm a bunch of newbies with enough information to get into serious trouble or debt. The people behind many of these companies like ForclosuresDaily.com have criminal records for being con artists and ripping off thousands of people for millions of dollars. One previous owner of ForeclosuresDaily.com left when the banks came after he and his business partner for millions in personally guaranteed loans they couldn’t repay. And now he has another bogus start up where he is once again ripping off consumers and lying to them.
Be careful of these shady people – they are always in attendance at the Charlotte REIA. I even told and emailed the owner of the Charlotte REIA about these scammers and I was told that they get paid serious money from these scam artists and that they didn’t care what happened to their members. In her opinion it was a buyers beware scenario – yet the buyers were and are knowingly being lied to at every Charlotte REIA meeting.
Then to make matters worse you have scumbags hawking timeshares and similar properties and trying to tell Charlotte REIA members of how great an investment they are – every single member that bought into these lies lost big money in the past recession. Then there are constantly shady people with “deals” to offer. Every meeting there are these wholesalers trying to selll a deal for quick cash and most of the time they will not tell you everything you need to know. They just want your cash and will leave the problem in your lap.
These real estate wholesalers are specialists in screwing people over. AT the last meeting I was at one was trying to sell a property he had the rights to that I knew had a IRS lien on it. He did not tell the elderly couple (whom knew little about real estate investing) about the IRS lien and lied to them about the condition and more. I had personally seen the property and researched it and it was a terrible deal – a nightmare. The elderly couple had virtually no chance of ever recouping their monies from this property.
I tried to warn them off after words, but they wouldn’t listen to me – they were too blinded by the shady wholesaler’s lies. I saw them a few months later and they were wishing that they had never met that wholesaler and purchased that “great deal”. As it turned out I was right and the property had a $90,000 IRS lien on it. The elderly couple lost their money that they bought the right to the property with from the sleazy wholesaler.
I felt bad for them and confronted the sleazy wholesaler in front of the couple and some other members and he lied and said he didn’t sell them anything and then quickly left. I have seen him back though, and he was right back to his old schemes, but he is not the only one doing this. Almost 3/4ths of the people in attendance are these wholesalers and will lie to you just like that guy did in a heartbeat.
My advice is to stay far away from the Charlotte REIA. It would be far better to find an honest real estate investor and volunteer to work for them and help them out in exchange for some on the job learning. There are hundreds, if not thousands of honest real estate investors in and around the Charlotte North Carolina area. What’s amazing and true is that not one of these investors attends or is a member of the shady Charlotte REIA. That should tell you something.
I now only attend their meetings to try and warn off innocent victims from the shady expensive seminar and cd, dvd collection promoters and the shady wholesalers that tend to lurk in abundance at their meetings. Instead of wasting your time and possibly falling prey to the shady business people at the Charlotte REIA, get a copy of the Charlotte Business Journal for under $1.00 (better yet get a subscription to it – it’s not that expensive and well worth every penny of it).
Inside the Charlotte Business Journal you will find out who the real, honest real estate investors are in the Charlotte area. You will never see the shady business people from the Charlotte REIA in there. Get their contact information and search the honest real estate investors out. They will more times than not appreciate you and your interest in their profession. You may be surprised with the information these people can give you – and it is far better then anything you could ever possibly learn from the vermin that hang out at the Charlotte REIA.
There are no posts related to Charlotte REIA association review - stay away from this real estate investment club as it is full of shady people, thieves, scammers and scams!.