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Paul

Senior Member
Registered: 03/13/05
Posts: 1,931
Reply with quote  #1 
I got a mailer today inviting me to a Flipping Seminar in Temecula. It's from some guy named Scott Yancey who has a TV show on flipping in Las Vegas. The seminar is limited to 100 attendees and is free.
I did a quick online search and can't figure what the angle is, that is, what does he want to extract from me.

Here's his photo on the mailer:



Here's his booking photo:



If I don't get a house in the next week I might actually go to this thing.

I guess the guy flips in Vegas but is from Florida.

Vegas and Florida, what could go wrong?


kaihacker

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Registered: 05/31/07
Posts: 4,792
Reply with quote  #2 
My guess is that there would be a lot of hype and excitement but not really any advise.  But if you pay the big bucks...then you will get to here the super special top secret advise.  
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Gene Hacker

Passive and active real estate investment opportunities.
http://RiverLakeRE.com riverlakere@gmail.com

Home Inspections in Bakersfield and all of kern county:
http://bakersfieldinspections.com
Paul

Senior Member
Registered: 03/13/05
Posts: 1,931
Reply with quote  #3 
I searched a little more and there's some commentary on Big Pockets. Yeah, you get the intro for free and then it's a lot of money for the secret sauce. Smelled bad from the beginning.
BelvedereCS

Senior Member
Registered: 02/11/08
Posts: 607
Reply with quote  #4 

 Yancey Events, all rights reserved. Yancey Events offers free introductory events and is a seller of advanced education, All Rights Reserved. After completing the introductory event, most attendees don’t use the information or make money. Like any investment, real estate carries a certain amount of risk, and it is possible to lose money investing in real estate.

*As part of the “Monthly Celebration,” 15 iPad Minis are given away randomly to selected registrants who register for an event, one per household. iPad Mini style and color may vary. Complete terms and conditions can be found at http://yanceyevents.com/first15rules.

**Digital camera and educational discs are free gifts to all households who attend the event. One per household. Actual digital camera may vary in color and appearance.

†Sample properties only. Properties shown here were purchased by Property Direct, an affiliate of Yancey Events. Customers of Yancey Events did not purchase these properties at these prices. The properties shown here represent some of the biggest bargains we have been able to find, and the prices shown are not typical of what you would have to pay to purchase similar properties.

SFL

Senior Member
Registered: 05/20/07
Posts: 559
Reply with quote  #5 
The charge associated with the booking photo appears to have been "disorderly intoxication".  

http://arrestfiles.org/publicinfo/scott-yancy

The site cautions that "All persons listed on this site are innocent till proven guilty. This information does NOT constitute a criminal record/history."

larrywww

Senior Member
Registered: 08/29/06
Posts: 1,691
Reply with quote  #6 
Paul, it's difficult to see how the talk could be very informative for you.

If they are talking about buying in Temecula (or maybe areas nearby), you could probably teach them, right?.

The Las Vegas market may be much less well known to you (and certainly is, at any rate, much less well known to me).

But I seem to recall something said by Sean O'Toole about Las Vegas many months ago: That basically because of a law passed by the Nevada legislature in response to the robo signing controversy, that the pipeline of foreclosures almost immediately shut down there.  This happened long before the scarcity of inventory hit us in Southern California.  Unless the law was overturned, and/or they found a way around it, I doubt that Las Vegas is anything but a seller's market for the foreseeable future.  (Caveat: Since this is the ONLY thing I know about this market, I wouldn't really want anyone to rely upon it.  But I would be curious if things have changed since then.)

Last I heard, the ONLY kind of foreclosures in Las Vegas were HOA foreclosures (alot of them condos) and/or foreclosures arising before this law took effect.  And the effect was dramatic---like turning off the spigot.  (Before it happened, Las Vegas was one of the hardest hit markets before foreclosures basically went away.)

It's an interesting question in terms of where the market is right now---maybe the halt in foreclosures makes it a good market since the hedge funds may have had less of an opportunity to make purchases there.  (I'd like to hear from anyone in that market if that istrue, since I really don't know.)

Based upon what I know (and I admittedly have no firsthand knowledge), it is hard to see how this talk is going to be even remotely useful----given that the enthusiasm for making purchases has heated up exactly when the deals are drying up.

That's how I see it, although I've never heard of this guy either, though I'd be curious to hear from anyone who knows the market.
Paul

Senior Member
Registered: 03/13/05
Posts: 1,931
Reply with quote  #7 
Larry, My thought was that I am always in Temecula these days and perhaps I might learn one useful tidbit. But in reality, I probably won't bother. I asked my agent if he wanted to go and he laughed.
TexasTom

Senior Member
Registered: 07/25/06
Posts: 337
Reply with quote  #8 
I think he's riding the coat tails of other famous TV flippers like The Montelongo's and Fortune Builders. Getting a show on TV slots you for the seminar business to make the big bucks.

Larry, wouldn't the same be true for trying to teach new investors how to flip houses in San Diego right now?

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Tom Tarrant "Forcing Appreciation Since 1999" House Flipping Blog> http://www.tomtarrant.com
larrywww

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Registered: 08/29/06
Posts: 1,691
Reply with quote  #9 
Tom, you probably know the SD market better than me. (I'm strictly in the Inland Empire).  But I would have to guess the answer is a Big Yes.

As you know, these markets have already inflated considerably, especially in terms of the entry level deals. And the price increase angle is so steep in some areas that it must be on a lunar trajectory. 

And NOW is the time when these real estate pitchmen come out of the woodwork to hawk the wonderful deals to be had in this market to near capacity audiences of real estate wannabes.  Whereas, before when the killer deals were available, this group was indecisive on the sidelines.

Amazing.



BelvedereCS

Senior Member
Registered: 02/11/08
Posts: 607
Reply with quote  #10 
"Whereas, before when the killer deals were available, this group was indecisive on the sidelines."

When the killer deals were available, this group was snapping them up. Hmmmm, maybe a new market indicator...over-abundace of gurus or lack of gurus.
javipa

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Registered: 09/20/06
Posts: 3,176
Reply with quote  #11 
I'm sure there's no good time for anyone to sell/share what they know, according to some. The information is always lame, overpriced, inaccurate, if not obsolete.

If it were 2008, we would be told to hold our powder, and that anyone telling us it was good time to invest would be effectively leading us down the path to ruin.

If it were 2009, we would be told we missed the boat, since all the good deals were in 2008 (at the bottom of the trough).

If it were 2010, we would be told that the market is flat and still not a good time to risk investing in real estate, and especially not in San Diego, of all markets.

If it were 2011, we would be told that a bubble is forming once again and all hell will probably break loose and everyone stupid enough to buy in 2009, 2010 would like lose their shirt by 2013.

So, now the suckers that believed all the naysayers, that there hasn't been a good time to buy since maybe 2002, are sitting on their hands watching all the "risk takers" sit on 20-40% increases in their bottom lines.

And what about 2012?  Still a bad time, because a government-induced bubble is forming.

Meantime, there's some on this board that have mopped the floor with their earnings in three years, going against the conventional grain of folks on this board, and ostensibly buying at the exact wrong time (which of course is always 'right now').

And so now, we've got at least two 'guru' "screwers" out there showing people how to buy real estate, because (obviously) they can't time the market, and it's the blind leading the stupid ...it's so obvious they missed the boat; that it still cannot be an opportunity to buy real estate.

Does it ever stop with some of you skeptics?  Really, ever? 

Instead of second-guessing the intentions of these people, why not test what they have to teach?  For Pete's sake the Temecula deal is free to attend.  If the information is crap, we've lost two hours of our time.  Whoopie. 

Meantime we would know soon enough if we needed to walk.  We didn't just fall off the turnip truck. 

If we've got turnip truck bruises, then everything/anything we learn will be new.  Yippee!

I probably sound like a bitter, hater, chomping on my gums, sitting in a rocking chair with a shawl, surrounded with cats.  Sorry.

__________________
"Obstacles are those frightful things you see when you take your eyes off your goals." --- Henry Ford

"149 Ways (Plus One) To Find Motivated Sellers and Get Them To Find You"
>>>Click To Download http://sub2marketdomination.com/how-to-find-motivated-sellers/
javipa

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Registered: 09/20/06
Posts: 3,176
Reply with quote  #12 

OH, I forgot to say...

In 2008, when 'nobody' was buying, the conventional wisdom was, 'nobody' is buying, so it's a bad time to buy.

Then in 2013, it is 'too many people are buying,' and there's not enough deals, thus it's a bad time to buy (still).

Evidently, for these folks, it's just never, ever a good time to buy.

I remember a well-known and respected market prognosticator (not RC) told everyone here that Sub2's were a bad idea until 20---?.  That was in 2009, I think.  Well, anyone who could control a property since 2009, has experienced at least a 20% increase in their gross equity, even if they bought at retail, much less got a deal. 

Other prognosticators are now predicting another 20% bump over the next 24 months.  That's sounds dramatic, but it's only a 10% annual increase. 

Well, imagine buying a property at just 10% below market Sub2  today.  That means he'll have a 30% increase by 2016.  On a cheap $250,000 property, that comes to a $75,000 gross profit.  Imagine controlling just three properties at 10% off.  By 2016, he'll have a gross profit of nearly a quarter million dollars.  Let's imagine he fails, and only makes half that.  That's still nearly $150,000 gross profit, just by controlling slightly discounted properties over 36 months.

FWIW.  And no, I'm not interested in debating whether the market is going up by 2% or 20%.  It's going up.
 


__________________
"Obstacles are those frightful things you see when you take your eyes off your goals." --- Henry Ford

"149 Ways (Plus One) To Find Motivated Sellers and Get Them To Find You"
>>>Click To Download http://sub2marketdomination.com/how-to-find-motivated-sellers/
davidoosnk

Senior Member
Registered: 12/10/05
Posts: 825
Reply with quote  #13 
How does the old saying go, "Those that can, do, those that can't teach."

My sentiments exactly Jay. 2009 was kid in a candy store time and I wanted to send thank you cards to all the self proclaimed gurus advising the competition not to buy.

DB
kaihacker

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Registered: 05/31/07
Posts: 4,792
Reply with quote  #14 
Any wholesalers out there go to these events to find buyers?  Likely a good population of over eager buyers that might be worth the time just for networking. 
__________________
Gene Hacker

Passive and active real estate investment opportunities.
http://RiverLakeRE.com riverlakere@gmail.com

Home Inspections in Bakersfield and all of kern county:
http://bakersfieldinspections.com
javipa

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Registered: 09/20/06
Posts: 3,176
Reply with quote  #15 

Quote:
Originally Posted by davidoosnk
How does the old saying go, "Those that can, do, those that can't teach."
My sentiments exactly Jay. 2009 was kid in a candy store time and I wanted to send thank you cards to all the self proclaimed gurus advising the competition not to buy.
DB

HA!  Me, too.


__________________
"Obstacles are those frightful things you see when you take your eyes off your goals." --- Henry Ford

"149 Ways (Plus One) To Find Motivated Sellers and Get Them To Find You"
>>>Click To Download http://sub2marketdomination.com/how-to-find-motivated-sellers/
KARENY

Senior Member
Registered: 08/23/09
Posts: 201
Reply with quote  #16 
you dont really need to waste money on these gurus.  The internet has a wealth of free information if you search for it. There was one TV flipper I did really respect though, his name was Richard I think and he did nice work;I think he flipped back east. I dont think he ever went the "guru" route. I wondered what happened to his TV show.....
rickencin

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Registered: 06/20/06
Posts: 760
Reply with quote  #17 
Quote:
Originally Posted by KARENY
There was one TV flipper I did really respect though, his name was Richard I think and he did nice work;I think he flipped back east. I dont think he ever went the "guru" route. I wondered what happened to his TV show.....


TV just loves get rich quick schemes.  I think they kind of burned out on real estate after it tanked.  Now it's storage lockers, gold mining, marrying money and tuna fishing ($8,000 a fish!!!).  Gottta love that easy money!

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Rick
mlreits

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Registered: 04/01/10
Posts: 913
Reply with quote  #18 
Paul,

I thought I should share this with you. I just got an invitation from Scott & Amie Yancy titled "Flipping The Bay Area." I believe it's the same invitation that you got. I think he doesn't do a very good job of marketing himself. Here's his bio.

SCOTT YANCY is a full time real estate investor, writer and educator. His career began as a runner and a land scout and worked his way through the learning curve. This depth of experience also created a depth of understanding, which ultimately enabled him to strike out on his own Company. His first employers were also his first investors - and still are to this day.

I think his bio has no depth. His could do a better job of marketing himself. Fortune Builders do a great job of marketing themselves, but their materials are too shallow in my opinion. I went with my brother to their 3 days seminar, but I couldn't make it to the 3rd day. The materials were too boring.

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Minh

"Be formless, shapeless like water." Bruce Lee
Paul

Senior Member
Registered: 03/13/05
Posts: 1,931
Reply with quote  #19 
Quote:
Originally Posted by mlreits
Paul, I thought I should share this with you. I just got an invitation from Scott & Amie Yancy titled "Flipping The Bay Area." I believe it's the same invitation that you got. I think he doesn't do a very good job of marketing himself. Here's his bio. SCOTT YANCY is a full time real estate investor, writer and educator. His career began as a runner and a land scout and worked his way through the learning curve. This depth of experience also created a depth of understanding, which ultimately enabled him to strike out on his own Company. His first employers were also his first investors - and still are to this day. I think his bio has no depth. His could do a better job of marketing himself. Fortune Builders do a great job of marketing themselves, but their materials are too shallow in my opinion. I went with my brother to their 3 days seminar, but I couldn't make it to the 3rd day. The materials were too boring.


I haven't run into anyone who went to the Temecula thing. Let me know if you talk to anyone who attends this.
cristal

Member
Registered: 01/03
Posts: 1
Reply with quote  #20 
Just got back from this 4 hour long seminar in Knoxville, TN. They got quite a few people out of $2000.00 - $4000.00. Things they were saying just weren't adding up. Not to mention the company that was holding the seminar was not even affiliated with Scott Yancey, whom him and his wife were not even there. And as a reward for everyone attending and for those who paid for this "opportunity for people to get rich off desperate people who think they will get rich" seminar, we got a free dvd "book" and a Made in China "Digital Camera". The camera, might I add, looks like something I would buy my one year old daughter as a toy from the Dollar Tree. It says "Digital Camera" on the camera, no brand. I just think this is a scam for people to make a huge profit off of innocent people. And the thing is, to use their resources, you have to pay interest rates, and fees, and not to mention a $4000.00 deposit to participate in the FULL program. Someone correct me if I am wrong, BUT, this has SCAM written all over it. 
kaihacker

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Registered: 05/31/07
Posts: 4,792
Reply with quote  #21 
Some times "guru's" give good information in their seminars and offer additional coaching/consulting/courses afterwards. Others call it a seminar but its really a prolonged sales pitch without any real teaching.  Was it a "4 hour seminar" or a 4 hour high pressure sales presentation?  
__________________
Gene Hacker

Passive and active real estate investment opportunities.
http://RiverLakeRE.com riverlakere@gmail.com

Home Inspections in Bakersfield and all of kern county:
http://bakersfieldinspections.com
KARENY

Senior Member
Registered: 08/23/09
Posts: 201
Reply with quote  #22 
I work at a hotel where Chief Denney was selling his seminars. Afterwards I could hear one of the pitchmen talk about "how he made $2,000 in 3 days".Also he was griping about how they werent selling many packages.Such a scam! With biggerpockets.com you really dont need to buy ANY gurus seminars and anyway; its never over;first the free "pitch fest' for $2,000 ohhhh wait and then you need another special expensive package and then one on one coaching for $30,000.;That money is best used to get you into your first deal.
brycewheeler

Senior Member
Registered: 03/09/09
Posts: 446
Reply with quote  #23 
I have caught Yancey on several of his "Fli[p Vegas" shows--cute show and he has a gorgeous wife, who is a home designer, and helps him remodel etc.   Both are great actors on the show.

From what I see of the show, Yancey is probably looking for capital "partners", probably silent
partners where he would control EVERYTHING but make it look like "partners" are participating.  I think he would regard the tuition or fees as strictly secondary and he needs capital wherever he can get it.

I doubt he could teach most members of this Board much of value they don't already know.

Bryce
javipa

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Registered: 09/20/06
Posts: 3,176
Reply with quote  #24 

It's interesting to listen to the disappointment factor in these "free seminars." 

"All I got was a free camera and a DVD, waaah."


 


__________________
"Obstacles are those frightful things you see when you take your eyes off your goals." --- Henry Ford

"149 Ways (Plus One) To Find Motivated Sellers and Get Them To Find You"
>>>Click To Download http://sub2marketdomination.com/how-to-find-motivated-sellers/
Paul

Senior Member
Registered: 03/13/05
Posts: 1,931
Reply with quote  #25 
Quote:
Originally Posted by brycewheeler
he has a gorgeous wife, who is a home designer, and helps him remodel etc.   Both are great actors on the show.

Bryce


We could always let this thread go in the hot-wife direction. I vote for the Flip or Flop blonde.




bond007

Member
Registered: 11/12/13
Posts: 1
Reply with quote  #26 
You guys might find this interesting, but I met Scott Yancey at a firearms training facility in Nevada. He and his wife are both impressive people. (This isn't the guy that has an arrest record, I looked into that...totally different guy)  I asked him what he did for a living, and he said "real estate"... and left it at that.  I asked him if he was an agent, and he went on to tell me he was an investor.  It wasn't until I got home that I realized he and his wife had a show on cable television. (Flipping Vegas)  Honestly, I loved that he's not the type to telecast what he does to the world.  He and his wife were there to get trained, and have a good time...and that was it.

It turns out that he teaches others how to do real estate by putting on presentations, and teaching folks how to do it.  Sounds like folks are pretty happy with it.
brycewheeler

Senior Member
Registered: 03/09/09
Posts: 446
Reply with quote  #27 

SPAM LABEL PREMATURE??????

Seems to me that Yancy does nothing more or less than many other GURU's.  HE does flips to make money in real estate and wants to teach more timid folks than most on this Board.  We have lots of
experienced flippers and other real estate investors on this Board who already know most if not all, of what Yancy does.  To teach that does not necessarily make it a scam.   Comments about large fees etc.so far seem to talk about other groups  not even affiliated with Yancy, so He may be prematurely and perhaps unfairly judged as a scammer.

His TV show is highly entertaining.  He and his wife obviously do a little re-play acting to make the program workl by re-staging what actually happened before, but it seems realistic in the final end result
of each program.  I look for the program, have watched about 5 or 6 and the programs seem just like "Flipping Boston" and several others onthe BIO channel and several flipping, investing progarams on Discovery channel and the Home & Garden channel.  I get a real kick out of the Yancy transactions and the acting of both Yancy and his gorgeous wife.   And, Las Vegas is one heck of an exciting real estate market very similar but more extreme than L.A. or San Diego.  Its just like an extreme So. Calif. real estate mirror.  The Discovery channel shows on Maricopa County, Arizona (the greater Phoenix area) are equally good--their programs are called "Property Wars" and they shadow the same 5 or 6 competitive Buyers in each show where the Buyers can only bid on the properties sight unseen.  That show has not
been on for a month or more, and appears infrequently out of the blue.

Bryce


brycewheeler

Senior Member
Registered: 03/09/09
Posts: 446
Reply with quote  #28 
Sorry, meant SCAM LABEL, NOT SPAM LABEL Sorry for typo.

Bryce
mlreits

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Registered: 04/01/10
Posts: 913
Reply with quote  #29 
How many Scott Yancys are there?  The picture of Scott Yancy that I receive in the soliciting postcard doesn't quite look like this guy.  Is his wife's name Amie?  Anyways, I still feel that his Bio has no depth.  He could do a better job of marketing himself.  Having a trophy wife definitely doesn't hurt.  [biggrin]
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Minh

"Be formless, shapeless like water." Bruce Lee
SFL

Senior Member
Registered: 05/20/07
Posts: 559
Reply with quote  #30 
The picture posted by Paul is not Scott Yancey, it's a different crew from a different show.

Just watched a 15 minute YouTube clip of Yancey's show.  Obviously the show is entertaining enough to pass the financial hurdle for producing it.  That hurdle is not particularly high due to extremely low production costs, which is why there is so much "reality TV" on the air nowadays.
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