In a recent review of another real estate “guru”, I was asked my opinion of Jack Sternberg and his associate Ken Preuss.
Let me be clear with you: I consider Jack Sternberg to be a friend. Furthermore, I think he’s tactically brilliant with some of the real estate strategies he devises. There was a time several years ago when Jack and I regularly spent hour after hour on the telephone in brainstorming sessions. Let me tell you, those were some interesting and enlightening conversations.
As for Ken Preuss, I do not know Ken very well. We did some joint ventures together several years ago, and I remember having a favorable impression of him. But I’ve had no contact with him for the past several years.
I know that Jack (and maybe Ken too) are marketing a very high end system for real estate investing. I know very little about it, and therefore can not give any reviews. However, your reviews of them and their system are welcomed.
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20 Comments So Far»
What was the outcome of her research?
As I mentioned above, Caitlyn appears unimpressed and maybe “turned off” by what she’s found. I think that Jack or some of his associates may drop by here to leave some comments, so my suggestion is to check out that information as well. — Bryan Ellis
I’ve met Jack in New Orleans before. We actually had a chance to have dinner together. He’s a great guy, and a straight shooter.
We actually didn’t spend much time talking about his buyer’s first program, but I do know that he has some very successful students.
Based on my personal interaction with Jack, he’s a great guy. But to be honest, I haven’t studied or been through buyer’s first- yet.
It hard to understand you asking for a reveiw and then being only willing to post your summary. Doesn’t breed very much confidence.
That’s a reasonable concern, but I don’t think it’s wise to allow a person who has no direct experience in a matter to have disproportionately strong influence over others, and that’s all I’ve done is to limit the spread of hearsay. As someone seeking the truth, you’ll benefit by that. Further, I don’t think it makes one objective to simply allow unbridled negativity. What I definitely will allow is conveyance of first-hand factual experiences - positive or negative - so long as the reviewer identifies him/herself and tells the truth. — Bryan Ellis
I, too, cannot recommend that anyone should pay Jack Sternberg
$60,000 to learn how to use a Letter of Intent (LOI) and then
tie up the property with a purchase offer or an option agreement,
then use the time to find a buyer to whom you can assign the
deal.
Tisk, tisk Brian. Asking us to leave a comment is very welcoming and encouraging. But limiting our comments or taking them out is less than desiring coming from you. Who is to say Caitlin wasn’t posting other’s opinions of Jack who may not have access to your website but whose opinions we should hear nonetheless.
Fair question! I’m the one who is qualified to say that, because I know what she wrote
Caitlyn’s review was based on a conversation she had with someone who knew about the program. I have a reasonably high degree of confidence in Caitlyn’s commentary. But I have a policy against spreading hearsay. If Caitlyn had either attended the event and had first-hand knowledge of it herself (either positive or negative), I would allow that. But that’s not the case. Most people appreciate first-hand information the most.
— Bryan Ellis
And, if you trust us enough to ask for our comments on your posts, you should also have a degree of confidence that we’ll be able to read through the b**l sh**t others post and discern what is mere “hearsay” or not.
You know, I thought about that exact thing when I was deciding whether to moderate Caitlyn’s comments. Problem is that a significant portion of her comments were 100% plausible while being 100% incorrect. This isn’t a matter of judgment, it’s a matter of fact. — Bryan Ellis
On a side note, is it me or does anyone else think Brian’s “review” of Jack was below par? When I read the email inviting me to read a review of a lesser known but influential re guru, I was motivated to click the link and read about it. But all I read instead was how Jack is Brian’s friend, how “years ago” they had “tactically brilliant conversations”, and (here is the kicker) how since Brian knows very little about Jack’s current program he “therefore cannot give any reviews”. A review without a review…absolutely hilarious.
Fair enough. Mark it down as an opportunity to see other’s reviews - which you can now do. Thanks for your comments! — Bryan Ellis
What I know of Jack’s system is that it uses some proprietary methods to build a buyers list and work with RE agents to find homes for your buyers on the MLS. However, his course is $60 grand(yes, SIXTY). All one could be led to believe is that an investors life would be that much easier and more profitable if RE investing was as simple as matching your buyers with homes off the MLS, all while working happily with an agent. I guess that’s why he feels his course is worth the money:quick and large profits that allow you to easily make up the investment. He also has a payment plan because he knows the cost is prohibative. However, ultimately it would be best to actually talk with someone who’s tried the program.
I took Jack’s training when he first introduced over a year ago. The training was subpar but the information shared regarding Jack’s proprietary method was truly amazing. Jack’s method of interacting with the Realtor is ingenius. I have been in the real estate business as an investor, mortgage broker and as a consultant for over 12 years and never have I seen an approach such as Jack’s Buyers First methodology.
I personally can attest that the strategy works. I also know of fellow students who have also succeeded.
My view of the price tag and the information shared is that it is the price you pay to be the first to utilize his methods. I know I would never have come up with the strategy myself…believe me I’ve been trying. The cost to develop what Jack has created would be much higher if you just considered the legal expenses to ensure the model would work. You’ve got to realize you are working with Realtors who do not know you and the fact that they are willing to complete a transaction with you speaks volumes.
Is the business easy…NO…does it work…YES!
That’s what it boils down in my book.
Joe
Thanks for your comments. While Jack and I are friends, I can honestly say that I know virtually nothing about this system because we’ve not had a lengthy discussion in atleast 2 or 3 years. What does Jack’s strategy make possible that you couldn’t do without it? What elements of the strategy are challenging? Does the difficulty involved make the program less advantageous for various types of investors? You’re our only first-hand source so far, so you may well get grilled pretty thoroughly about this
Have a great day! — Bryan Ellis
Brian here are the responses to your questions.
1.What does Jack’s strategy make possible that you couldn’t do without it?
1. Jack’s strategy allows you to flip any property on the MLS and have any Realtor complete the transaction for you. The best part is you only do this when you have a QUALIFIED BUYER. There is no risk. The buyers selects the home, the realtor completes the contracts and you go to close. No inventory to keep or cash/credit required to buy properties.
2.What elements of the strategy are challenging?
2. The strategy itself is simple and easy to complete. The work required (not challenge) comes from attracting your end buyer.
3.Does the difficulty involved make the program less advantageous for various types of investors?
3. I would say it would not work for novices or anyone who does not have the capital to invest into marketing their business. It will take time and money to find out what works best to attract buyers in each market.
In today’s market I feel Jack’s strategy will work best for investors who have inventory to unload and need ways to help finance their end buyer.
BTW…Jeffery Smith this is not an option or LOI. You never tie up the property or make an offer unless you have a buyer who wants that particular property…hence Buyers First. Jack’s methods are completely proprietary and can not be found anywhere else. I have enough Real Estate books and tapes to know what methods exists for buying and selling real estate. Jack’s system stands alone.
Jack also provides real life support and updates his training and strategies to coincide with the market. One price and you get endless support. Jack is an encylopedia of knowledge and has helped me on more than one occasion to solve a real estate problem.
Hi all,
This is my first post. I also am in Jack’s sys. but I guess I got a good deal 30k! I made my $$ back in my first deal! Agree with other poster training sub par, material also way below standards, I suggested they make a power point and allow their students to use it for reference! no such luck!!!
Now for the good news! The methodology does work and I found another system same method and you save $59,300… What a bargain.
I have nothing bad to say about Jack he answered his phone when I called BUT after the fact there is no ongoing updates to the program/changing market conditions? That’s bad
The other program links are here maybe you can review them!
*****
*****
Yes, we’ll certainly review those programs as well! Thanks for your comments. — Bryan Ellis
Robert and Joe,
Thank you for your reviews.
Since your original training, I have had all of the materials and training professionally upgraded at a huge cost. As prior students, you are entitled to ongoing training and support, as you know. Since last year, we have Powerpoints for the training and now have them for all the presentations to the end buyer, the Realtors and for our Assisted Home Purchase Program component.
Rober, the other methodology that you cite is also good, BUT as you know, it does not allow compliant interface with Realtors and therein is the BIG difference.
As for ongoing updates, the new BuyersExplosion Programs that are in the final stages of development and are going to be introduced at our next advanced training (which, as you know you are welcome to attend) are going to take your business to a whole new level. Especially in this challenging real estate environment.
Please attend.
Remember: Always Stay Ahead of the Game,
Jack Sternberg
Jack is one of the most experienced and gifted minds in real estate that I know. As a student of the Buyers First Program, my personal opinion is that the concept is brilliant and doable. Further, the technique is very novel - nothing I would have come up with on my own - and I’m no slouch when it comes to real estate strategies.
I use it in my brokerage every day to maximize our overall profits. It doesn’t work well for every deal but for those deals it does fit, it makes a BIG difference.
While current lending conditions do make finding qualified buyers more difficult for everyone, in the hands of a skilled investor, this is a unique approach allows an individual to get great spreads using MLS listed properties(what a concept)! At the same time everything is Fully Disclosed and there are no title seasoning issues.
A final thought: A lot of investors still have a magic bullet mentality. I’ll be the first to say Buyers First is NOT a get rich quick scheme. It does require personal skill(it’s not for novices), commitment and hard work but if you work the system - I can assure you the system does work.
And I can relate to the fact that it bugs you. I heard all the hype from Jack and others directly and it really REALLY irritated me that I couldn’t figure it out - until I saw it
What an AH HA moment!!
Since 85% of all real estate transactions are performed via Realtors this technique cracks that market wide open. From my perspective, just knowing how to do bettter than the standard 3-6% on listed properties makes all the difference in the world.
Maybe that’s knowledge you don’t need in your business??? That’s a business decison.
I do have to say - I got in early so didn’t pay 60K for the training but it was well worth what I did pay.
And you’re right - there is very little, if anything, new under the real estate sun.
Fortunately this approach qualifies for inclusion in the “if anything” hall of fame…
Cheers
My name is Chris Daigle and I am the Owner/Editor of EasyHUD.com and CEO of VirtualWholesaling.com. I have been a full time investor for almost 8 years and have seen my share of challenging deals during that time.
Jack’s system, though expensive, is one of the most COMPLETE business models I have seen in Real Estate Investing. And there isn’t anyone I know of who “gets” REI more than Jack Sternberg.
If you ever get the chance to corner him during one of the rare occassions that he is attending a seminar, take the opportunity to try and stump him … it can’t happen.
I remember seeing him and Tim Mai talking at the first Virtual Investing Seminar. I thought for sure that Tim would have figured out Jack’s system after talking to him for that long but NOPE - Jack even had Tim Mai guessing for more!
If you think you can figure out Jack’s system then you are truly a smarter investor than me
Sounds like it is a good system but he needs to hire someone to polish up the presentation material. You would have to be pretty successful already to afford the price tag.
Hello. My name is Randy Searls. I was in the very first training session for the Buyers First Program. Although I knew that being the first would also mean that I would be somewhat of a guinea pig I didn’t mind. I was anxious to get started and didn’t want to wait. Even though the program materials may have been somewhat rudimentary in the beginning, that didn’t stop me or really hinder me to any great degree. And as you’ve heard from others and from Jack they’ve come a long way since then.
With regard to what some of the others have said about his training and materials, “training subpar”, “material way below standards”, it reminds me of that old saying, “You can lead a horse to water but you can’t make him drink”. Or to put it another way; you can send your kid to the best school in the world but there’s no guarantee he’ll get an education. It also reminds me of the art school I attended in my previous life. I used to hear the other kids grousing ALL THE TIME about how they didn’t like this or that, or how bad this teacher was or that teacher was. It made me sick. Their parents were paying good money for a good education and all they could do was complain, about everything. Was everything perfect, no. Did I get a good education, YES. In fact I graduated in the top of my class. So why was my experience different than most of the others? Simple, I was hungry, I was motivated, and I wouldn’t take no for an answer. It really all comes down to how much effort you’re willing to put in. You put in a little, you’ll get back a little. You put in a lot, you’ll get back a lot.
What Jack teaches and the program he’s created is incredible. I agree wholeheartedly with what Alex S said that “Jack is one of the most experienced and gifted minds in real estate that I know”. This is a great program and I can personally say from my own experience that it has lived up to all my expectations. Money aside, all that’s really required is a commitment to follow the clearly laid out plan of action and put the program to work. I emphasize “commitment” because without it the best business model in the world, no matter how good it is, no matter how great it sounds, no matter how much it cost, will never succeed without commitment, motivation, and tenacity. The world is full of “seminar junkies” who go to seminar after seminar getting all hyped up about this program or that, spending thousands of dollars on books, CDs, and boot camps who go home AND NEVER DO ANYTHING. Are all these programs flawed in some way? Is the information they’re selling worthless? In most cases I would say “NO”. I think for the most part the fault lies clearly on the shoulders of the recipient. Most of them are just too lazy to get off their butts and do something to change their lives. A sad story, but true. In fact just to prove my point how many of you have a few “programs” collecting dust in your closet . . . I’m raising my hand! I bet there are even a few people who have paid for Jack’s program and have never done anything with it, although that’s hard for me to imagine. I guess it’s a good thing these types of people exist otherwise all these seminar guru’s wouldn’t have much of an audience or a business for that matter.
Jack is one of the most down to earth guys I’ve met in the real estate industry. You’ll never see Jack being paraded across a stage or see him peddling the Buyers First program at someone else’s boot camp or seminar “event”. Nothing against the guys who do, but that’s not Jack. He’s helped me every step of the way, and has made himself available to me by phone whenever I’ve needed him. That’s rare in this industry and not something you’ll get with any of these other “gurus” like a Ron LeGrand or a Dan Kennedy (nothing against them either :-)).
But like they say, “the proof is in the pudding”. So here’s the proof. In May I closed 4 deals, 2 each in June and July (slow months) and in August I’m looking at closing 8 to 10. My average per deal to date is $13,025.58. You do the math.
Is it worth 60K? That’s for you to decide. To be quite honest with you I hope you remain a skeptic and that Jack does add another “0″ to the price as one of the other disgruntled writers suggested. You see, I know what I’ve got and I’m quite protective. If others remain on the sidelines that means more for me. :-).
Caitlin, I understand your frustration and wanting someone to tell you how it’s done. That’s only natural. However there is a very good reason why no one is going to tell you. All those who purchase the Buyers First program sign a Non-Disclosure Agreement. So we couldn’t tell you or anyone else how the program works, even if we wanted to. If Jack wants to disclose this to you, or give you a “gist of the strategy”, that’s his call.
However, I will say again, and I speak from experience, Jack is not about “hype”, his program does work, and I have the checks to prove it (by the way I didn’t get paid to say that, or anything else I’ve posted on this site).
I also understand your skepticism and I have the feeling that you will probably remain so, no matter what I say. That’s OK. It really doesn’t matter to me whether you buy into Jack’s program or not, and I didn’t write all that to try to convince you otherwise. I just thought it would be helpful for people to hear from someone who has a lot of first hand experience with the Buyers First program.
In any case I wish you all the best in your real estate endeavors.
Hi Caitlin.
I’m sure if you or anyone else spoke to Jack personally he would tell you more about the program and what their policies are with regard to payment.
As for “gray” areas, again speaking from experience, there really are none, at least from the my State’s point of view. My attorney has looked this over thoroughly and aside from some minor tweaks and adjustments has given this program his stamp of approval.
With regard to the gentleman who has said he lost a lot of money, I can’t really speak to that since I don’t know who he is or anything about his situation. All I can say is that Jack has been very supportive to me every step of the way.
so caitlan, if I charged 350K for my program, you probably wouldn’t think about it, even if it was 1% down with payments made over 18 mths and taken from the profits of deals to be done. even if you were guaranteed a million bux, you probably wouldn’t do it…see, this would require some work. It would be insightful to ask what, if anything you have spent on your real estate education…or should I ask, how much lost opportunity it has cost you for the things you have not done. There was in the old days, the “tom Vu” guy…you know, big american women with their big american….xxxxts…the saturday night live skit joke…but the fact of the matter is, I have tripped over immigrants who have just knocked on a hundred doors a day asking to buy peoples houses because they did not know any better, and suspect they have made more money than you by just asking people for their business…there is not perfect system…and nothing works unless you work it. I suspect you should spend a moment to learn the various aspects of real estate. From my experience, there are at least 150 pieces to the real estate puzzle. You can be very successful without knowing all of the pieces…and even when you get all the information, will you over analyze it ? ? From my experience, there is someone in the background in your life holding you back…asking all these questions, punching in a time clock somewhere, or a frustrated person who tried at something, maybe a business, maybe some real estate…Caitlin, you need to go to your county courthouse and stand around for a few sheriff sales, get some names of bidders and buyers and phone numbers and then beg them to let you work for them for free for a few months to see how it works, then go to your county tax collectors office and find out who the large tax lien buyers are in your area and do the same thing…what you will find is that they probably know less about real estate than you already know, and you will get over your fears, make money and be a success…good luck
I applaud Bryan for not publishing Caitlyn’s negativity……For her to shoot her mouth off on the program having no first hand knowledge other than “I heard from so and so that……” and “I did some research on the internet and…..” (and we all know that all information on the internet is 100% true and accurate) is doing the rest of us a disservice by not being able to judge for ourselves base on some impartial and objective presentation of fact.
She seems to be all bent out of shape in regards to the cost and as such is not able to get beyond that to view anything other than that is can’t possibly be worth the price and must be a scam, and by golly I’m going to confirm my hypothesis and than publish my conclusions for all to see. This is a capitalist country and people have the right to market a product for the price they see fit. If you can’t afford it, don’t assume that it can’t possible be worth it. As the old saying goes “Don’t confuse me with the facts!” Kudos to Bryan for keeping it real and objective.
Just curious if anyone has reviews of John Alexander’s products such as Home Seller Assist, and Bill Vaughn the simple man’s guide to Real Estate?
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