REO Rockstar Review by Preson Ely – Honest and *Real*

July 20th, 2012 by Jarad

From the Mac Pro of Jarad Severe
Location: Underground Testing Lab (ie my home office)
About: REO Rockstar (by Preston Ely)

Preston Ely Reo Rockstar ReviewSo I know you’ve been hearing a ton about Preston Ely and REO Rockstar.

And you might actually be considering buying Preston’s program since you are looking for an REO Rockstar Review.

Here’s the thing though.

And this is important…

Before you buy Preston’s program, I really encourage you to read this whole page.

For those rebels out there here’s Preston’s official site

Here’s why.

I actually own this product.

Not only do I own it I’ve gone through it.

That makes this a REAL review not some hyped up review trying to get you to just buy the product.

You see I actually want to help you.

Because this product isn’t for everyone and…

…why would you want to buy it if it really isn’t going to help you achieve your goals, right?

But more on that later.

Look, you know I have a lot of experience and knowledge in the real estate world.

Heck, I’ve been investing in real estate and running this site since 2002.

Wow, has it really been that long?

I’ve seen the highs and lows and I’ve seen good and bad products.

And since I’ve been around the block for a few years, I’m not some fly by night person and I want to keep up the great reputation I’ve built in this industry.

But most importantly, I want to help YOU my website visitors.

Ok, let’s get back on track.

To be totally upfront (I promise I will always tell you the truth) this product has some really good things about it, but there are a few things I don’t like about it.

We’ll cover those in a minute, ok?

First off, what is REO Rockstar even about?

Well, inside this course Preston talks about a $787 Billion loophole he found that allows him to flip 10-15 REO foreclosure properties every single month…

What does that really mean?

Basically what you are learning to do is wholesale REO properties.

For those of you that don’t know what it means to wholesale a property it’s simply when you put a house under contract and either assign the contract to an investor/rehabber for a small profit or sell the property to another investor/rehabber under market value and make a profit. Most of these REO properties will need fixing up and repairs. The idea is to “flip” the property to an investor/rehabber under market value and let them spend the money to fix it up.

Trust me when I say that rehabbing properties in NOT something you should do if you are a beginner. Make a small profit from the assignment fee or quick flip and move to the next property. The goal is buy low and sell low and to do it as much as possible with as little out of pocket as possible so there is little risk. And this is exactly what Preston and Lee cover in their training course.

You learn how to wholesale deals without:

-without using any money or credit
-without risk
-without any experience
-without any manual labor (if you know Preston you know he’s kinda lazy)

…as well as

– How to evaluate the deals
– How to setup the closings
– How to do a double closing
– How to find deals without spending $1,000’s on advertising
– How to avoid the major issues of buying REO’s

Here’s part of the problem with REO Rockstar though.

This business is changing every day and extremely liquid. As soon as products like this are created, big government changes the laws and they make it difficult for investors to do what they do best. However, we always seem to find a way around it. Take for instance the re-sale restriction with most banks, fannie, freddie etc. These re-sale restrictions are anywhere from 30 to 90 days. Investors hate these restrictions because they screw up the wholesaling process. But, now we have a way around it (which is not mentioned in this training course) and it works like a charm.

Although this REO training course is extremely educational, the real value is ongoing monthly training because things are evolving so rapidly in this business. If you are a seasoned veteran, this course may provide you with a few new gems. If you don’t know anything or know very little about wholesaling real estate, it’s definitely worth the hundred bucks because you’ll get a very detailed education on wholesaling properties from start to finish. Lee and Preston are seasoned pros. And if you are looking for a solid foundation in this business, the Rockstars will give it to you.

Now that you have a good understanding of the good and bad of Preston’s REO Rockstar let’s talk about what comes with REO Rockstar.

REO Rockstar Course Breakdown

Ok, so here’s what you get…

  • 1. 83 page “Intro to REO Investing” ebook
  • 2. REO Investing 7-step Quickstart Guide
  • 3. 6 – 90 minute “HOW TO” Video Training Sessions
  • 4. 2 – 2 hour “HOW TO” Audio Training Sessions
  • 5. All the form and contracts for REO investing
  • 6. Daily motivational message
  • 7. 24/7 email support
  • 8. Private access to all the bank-owned foreclosure houses
  • 9. Preston will fund your deals (no hassles, no credit checks)
  • 10. Lifetime subscription to Prestons newsletter “The Flip Factor”

Preston Ely REO Rockstar Course

Phew, that’s a lot… But is it for you?

Here’s my recommendation –

If you are new to REO investing, you will benefit tremendously from this course. Preston and Lee Kerney have put together one of the best REO investing training programs on the internet. You won’t find one better for the price and you will leave confident you can close an REO deal. They’ve done their best to update the material as rules and laws change which is a huge bonus in my opinion.

Another reason I like this product is because the Rockstars themselves are doing deals.

With that all being said, I fully endorse Preston’s product. I wouldn’t have created this REO Rockstar Review if I didn’t.

That being the case I’m not the hardsell type.

If you are looking to start making money in REO or real estate in general this is a great course for you.

If you are looking for a new strategy to make more money with your investing this is good for you as well.

The best thing to do is go to Preston’s site and watch the full presentation and make the decision for yourself.

Go here to watch the video

Talk soon,
Jarad

P.S. Again I want to let you know I fully endorse REO Rockstar. I own the product and I think it can make a difference in your investing.

Watch this video and see for yourself.

P.P.S. They also offer a 30 day risk free guarantee which means you can get your money back if you decide wholesaling is not for you.

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7 Responses to “REO Rockstar Review by Preson Ely – Honest and *Real*”

  1. Rhonda Says:

    Help!! CAN I DO THIS IN Canada??

  2. Jarad Says:

    The program is really designed for investments here in the U.S. Canada has different laws and processes. However, that doesn’t mean that Canadians can’t invest here in the U.S. which is what a lot of them do. So YES, Canadians can do this here in the U.S.

  3. Tyler Says:

    Hi! I purchased reo rockstar recently and im really enjoying it but ive been wondering about the double close that allows youbto wholesale reo’s. Im in oklahoma. I noticed what you said that ive quoted below. Could you elaborate on this a bit for me? Thank you!

    “These re-sale restrictions are anywhere from 30 to 90 days. Investors hate these restrictions because they screw up the wholesaling process. But, now we have a way around it (which is not mentioned in this training course) and it works like a charm.”

  4. Jarad Says:

    It seems as though banks are “easing up” just a bit from the re-sell restrictions, but you will still come across it no matter where you live, especially if you are dealing with any government organizations. Here is a link to a video that describes a way to get around this. In order for this to work though, the end buyer must be a cash buyer. And it works well if the property needs repairs.

  5. ronald Says:

    I don’t know anything about realestate buying and selling. Do you think this is something someone with no knowledge of the industry could do and make money at. Also Do they explain where to find the properties, and which are best for resell without investing your own money?

  6. Rick Barva Says:

    I am a Canadian living in Alberta. Can I do this from my home in Alberta or do I need to be situated in the US to do this. Thnx

  7. Jarad Says:

    Yes, you can do this from anywhere. However, you would need relationships here in the U.S. to help you with some of the due diligence if you didn’t want to travel.

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