Rehab Queen - Robyn Thompson
Good day,
has anyone attended Robyn's Waterbury,Conn boot camp? If you have, have you had much success in using her method of estimating cost for rehab and be as profitable as she states that she is?
More importantly, is the boot camp worth the money? If it is not, can you recommend an alternative that helps with estimating rehab costs? Thanks in advance for your help.
ligem,
Went to the boot camp in Waterbury, mixed emotions. Was not impressed with Robyn at any level, however some of the additional speakers would good.
Robyn is hardly what she claims in her advertising. All of the information was pretty intuitive and basic, no real substance.
Good Luck
I was just going to ask about her since she's going to be a speaker at our investment club. Thanks for the input...
Quote:
On 2003-08-07 11:15, tdelo56 wrote:
I was just going to ask about her since she's going to be a speaker at our investment club. Thanks for the input...
Which investment club would that be, if you don't mind me asking? I saw a seminar she gave for REIA of Oakland in June, and was very, very impressed. She is smart, focused, witty, funny, and very informative. And a good all-round person too. I would love to attend the bootcamp, but will have to do a rehab so I can get the money together first
I thought Robyn was a brilliant speaker and was very impressed with her business practice. She has been very successful in a short amount of time and has demonstrated the ability to master her concepts.
Robyn is a Ron LeGrand Student. Her Course on rehabing houses from begining to end was a very informative course. It left out some stuff on finding the houses but that information was in Ron LeGrands Wholesale/Retail course. Both courses are very good.
IMOHO
Robyn was just in Minneapolis last week. She is having a one day thing for $99 I am attending but I didn't buy anything else. To much $$$!
If anything, she's a great motivator!
I met Robyn last weekend, she gave her presentation at a weekend investors convention.
She is very nice, and funny and personable as was stated, but I could care less about that, I was more interested in what she could do for me.
I spoke with her after her presentation and gain a bit of insight into her success. Her market is totally different then mine, about 180 degrees in the other direction. It is true that general concepts that work in one market will work in another, but general concepts can be learned in a book for $19.95.
When it is all said and done, after you have spent your week with her, I felt that you still end up right back where you started, which is trying to find a rehab property that you can buy at the right numbers. You will still be dealing with your individual market circumstances and still be trying to put a correct number on the costs of doing the rehab. Nothing she can tell you is going to change any of that or solve those problems.
After some discussion, she specializes in totally (DELETED) up houses, houses where the pipes have burst and destroyed the walls and floors. She is buying them at deep discounts because they are absolutely the worst homes, close to be condemed.
She supposedly has a pipeline of private deals being fed to her by her in the pocket realtors who she has created over the years.
She has a crew of 22 working on her houses full time.
It's all great work if you can get it, but it still comes down to the fact that when you wake up you are back in the town you are in dealing with the homes that are there with the market conditions that exist.
The bottom line for me is anyone who offers books, tapes and boot camps is in the business of selling their system, they aren't in the rehab business. They have discovered like all the tape gurus, that there is more money to be made selling picks and shovels to the gold miners than there is in gold mining.
Rehabing really isn't that complicated. It all boils down to finding the right house, knowing what the actual costs will be to fix it, and most importantly what the true selling price of that property will be when you are done. All the rest is just complicating the matter because you aren't cabable and confident in doing one of the three things, buying right, estimating repairs, estimating correct selling price, so you are looking for the magic bullet to fix it.
$-
Watch the language.
$-[ Edited by JohnLocke on Date 10/15/2003 ]
Here is possibly the easiest way to learn how to estimate.
Make up your list of repairs, get the materials list (the pro CD at Home Depot is quite helpful if you have HD in your market). Double it and add 10% now see how close you come to a contractors estimate. This works in 70% of all cases.
As you progress, get the $20 download construction estimating software from craftsman book company http://www.costbook.com and start learning how to do real estimates. I have done millions in estimating using this procedure.
Warning! Estimating is really an art and doubling the materials cost will get you into trouble sooner or later. but it is a good place to start. The more you do the better you will get.
I have one of Robyn's courses, I picked up two new points in it. She is doing the work.
My only negative was that her rehab's weren't up to my standard. But I am an anal perfectionist
[addsig]
I started this post back in July. Since then I have met Robin and attended 2 of her events and another where she is the speaker. I am impressed.
The last post made on this topic is correct in one respect -- after you buy the tapes and books and attended all the seminars, you still have to cope with your market. Unlike the poster of the last remarks, I AM MORE EXCITED THAN EVER.
The gurus like Robyn provide a business model for you to adapt to your market. YOUR MARKET is not SO UNIQUE that you can't adapt something you learned and make it work where you are.
The one thing that no one has mentioned is Robyn's willingness to help and the partnering she does with her students. Yes partnering, if you bring her a good deal, she will assist with funds and you will get your fair share. I have met people that she has done this for and they are learning IN A MARKET THAT THEY THOUGHT " AHHH THAT WILL NOT WORK HERE" ---Guess what its's working now.
I plan to attend the boot camp in April 2004 and I can't wait. My suggestion to anyone that spent good money and time is MAKE IT WORK. You now have a bit of an edge. You have been taught by the best. Affiliate with some other investors and GET IT DONE. You are not motivated enough if you think that you spent your money only to come back to the same situation. You have not spoken to enough people if you think that it is all about the books and tapes.
Worse case, you should be wholesaling houses if you can't get the rehabbing done right now. You are dead wrong if you are still thinking OH WOE IS ME. When was the last time you looked at your goals regarding this business? Don't have any/ Maybe the reason you are not feeling accomplished is because you do not have a plan. You need one.
Do not think that you can't accomplish the same things that Robyn has because you can. GET OUT OF YOUR OWN WAY - THINK PROSPERITY AND SUCCESS AND KEEP MOVING. You can do this!