Who Are These Guys?
Has anyone read "How to Create Multiple Streams of Income" by Peter Conti and David Finkel? The ebook was free, so I thought, why not? What's odd is I cannot find any info on these guys other than their own books and website. Unfortunately, we can't be too careful. 
here is some info
http://www.thecreativeinvestor.com/modules.php?op=modload&name=Forum&file=search
www.resultsnow.com is one of their site....
I just clicked on the link in my post it just goes to the search engine here.
I thought it would show what I got when I searched for Peter Conti.
So just put 'Peter Conti' into the search criteria and it will pull up discussions from this board about them.
Aha! I was searching with the book title. Thanks!
I am in my education phase and I am reading everything I can get my hands on.
Conti and Finkel are great! I have read two of their books already and will be reading the one you referenced next.
One of the most underrated ones I have read so far is Robert Shemin. From reading his book, even though I don't have any deals yet, I have already talked to a mortgage broker who will give me an excellent referral fee (I am not a realtor) for any of my future L/O clients I send his way... Robert Shemin has several very innovative ways to make $$ not only in real estate, but around real estate.
I have read their books and they are very informative. They explain in great detail all of the procedures and they use stores to put you in the situation. You can follow their instructions to the letter or you can use bits and pieces from their book. One of their books is totally free and free is good.
Good luck
Gonzo
You can't beat GOOD Free advice!
I've read their newest book back in November 2003. It is very practical and helpful. Signed up for their mentorship program in November, finally got a call this afternoon. They say they only select 200 students per quarter. The cost is $5,000 -- you get materials, 3-day boot camp, and mentorship by phone, fax and/or email for at least a year. (May be longer, I can't remember.)
Go ahead and order Conti and FInkel's ebook. As long as you don't mind being spammed, free is free. But in this case, you pretty much get what you pay for.
As newbies, I understand that pretty much anything you read is new and exciting, I've been there. But I believe that you also need to step back occasionally and think through how these writers ideas would actually play out in the real world.
C & F are pretty entertaining writers, but the really useful info contained in this book is just the same basic stuff you can find anywhere, including here on TCI.
The biggest issue with these guys' stuff is that it is seriously dated and problematic. Their main focus is controlling properties by "buying" thru lease-options. L/O's might be effective for some situations, but in general are a much riskier form of investing. They promote selling on L/O's as well, which creates another problem IF you "bought" on L/O, which is the double close. Nowadays, a double close is much more difficult to pull off, especially the end buyer's financing.
Conti's negotiating technique of "playing dumb" with the sellers might work for him, but definitely not for everyone. I personally, think that it's more than a little condesending to the seller, and you're likely to piss off as many as you deceive, neither of which is real beneficial to you. Finally, their idea of voicemail to answer the phone is a seriously dated tactic, and in todays market will lose you more buys/sells than it will ever create. Sellers want their problem solved NOW. If you don't answer your phone, they'll just call the next "we buy houses" ad in the paper. Plain and simple.
Other than that, its a good read.
Shemin, I like better but you still need to throw some real world reality in it. The two biggest things with his stuff are his negotiating tactics and his other money making ideas, as someone mentioned above.
Shemin promotes hard-lined negotiating. Where I'm from, his style would likely get you shot, or at the very least tossed very unfriendly-like out the door.
His other ways to make $$$ in RE is by getting referal fees from anybody that you refer people to, attorney, contractor, broker, realtor, whomever. This creates a 2-fold problem. First, it makes the investor look like a greedy hog. "i'll refer people to you IF you pay me to do so." Second, it creates a grease-me, grease-you relationship. People will only give you leads IF they get referral fees from you since you only refer them IF you get paid.
Personally, I'd like my mrtge broker to run free credit reports on my possible T/B's and give me discounts on my loan fees, since I give him so much business, than to collect a small referral fee for any loans that you bring to him.
Roger
Hey Raj, thanks for the perspective.
I too would feel very uncomfortable using the exact syles that C&F and Shemin use...
I think it is important to read everything you can, take a few things from each technique- put your own spin on it and find out what works in your locale by going out and doing it...
Funny aside to that- I have talked to several local people here (since I am new to the area) and each one will swears that certain techniques don't work at all or have no chance of working here. Of course, they all contradict each other- so I guess I will have to find out what method works best on my own.
Enjoy the read, but remember it is a book and the real world is a constant changing puzzle.
I used to believe that I should learn a single method, get it down exact, and so well ingrained that it was part of me.
So when I hit the door I would be on automatic. Needless to say it did not work. The problem was that each time the door opened it was a different person and a different problem.
As to Lease Option. It is a great tool but you cannot always use it as a specific situation may come up that prevents your use of it and you must do something else. The person may have resistence to Lease Option and for that person you must do a Land Contract, and in some instances that Land Contract should in every way resemble a formal Grant Deed, complete with borders, little blank places to fill in and of course a place for the Notary Jurat.
Why? Because that is just the way some people think, they require a formalation
to the transaction. So you give it to them.
This is not taught in books and by "One Shooters" It is gained by associating with people, all kinds of people, listen and watch them and learn.
I have a love of languages, that is why I cannot spell, too many languages. But what I am really involved in is people.
I really wish I could get you people to read outside of the field of Real Estate.
Think for a minute, when is it that you must establish empathy and then motivate? When is it most important?
When your life is on the line. When you go into a foreign ethnic group and you get them to accept you, and to then do what ever it is you so direct. A Guerilla Warfare Leader does that.
It is true he reads and studies different authors, but his task is just the same as yours. Bob Allen does not read well when the subject is life or death.
The Art of War by Sun Tzu Read this book pick it up used and then to read between the lines applying the context to what you are doing right now.
To those of you now doing PreForeclosures, I am sure you have noticed the enormous amount of mailings that people in Default receive.
Real Estate Brokers are knocking at their doors trying to get them to list for sale. Mortgage Brokers are leaning on the doorbells trying to get them to refinance. I know their credit is now shot but no nevermind they are also dreaming ways to handle that little problem.
So you have to come up with an approach that is better and more workable then any of these others.
that approach dear friends of the TCI, is brought to perfection as the door opens and that person stands before you.
Sometimes you just smile and say something like. "I know you are having a really hard time, but I think I can help you solve your problems, just the way I have done it so many times before." Etc. Etc.
Of course I make the assumption that you really know what to do to solve any problem that there is. So you have to prepare yourself. And, what is really important be able to establish a true communication with that person.
My God I am writing a book. I only meant to stimulate your thinking. Ok you are stimulated start thinking.
Cheers Lucius
Hello,
I am in my "educational" phase right now, and have been reading books as well as every pixel of this website GREAT info!
Anyways, I too have been contemplating the Conti/Finkel mentor program, but I thought the price was more like $20K (or 50% of your first two deals). Have they lowered the price on the mentor program, or am I thinking of a dif. program? Anyways, Mark1028, please keep us posted on how the program goes (pm me!) I feel like my reading and education is definitely helping get my feet wet, but to go out there and do a deal I wouldn't mind a partner (i.e. the mentor program.)
Now, Raj, I was wondering about your comments (re: dated content, etc.) Do you think that they consistently update and modify the content within the actual mentor program, if not the book?
Thank you all for continued helpful insights...
Hi there.
I can relate. I would love a mentor, but can't do it at that price. U nless I find someone local I'll have to gather what information I can and punt!