Hello,
I have recieved tons of calls and emails about this topic so I thought I would post my thoughts/comments here.....since somebody has started the thread anyways.....
This is just how I see it take it or leave it.....
Don Campbell is about "Long Term Hold"....... but he is also about introducing us (meaning REIN members & other investors) to other methodologies related to investing & profiting from real estate.... & to have us informed..... without caring what any one person wants to do. He just wants people to do something....while being informed about their decision making process & other options available to them.
Yes I have been to many Ron LeGrande events here and in the US and I will honestly say he has probably influenced my investing career as much or more than Don has.
Don has given me stability of ongoing support & knowledge in an ever changing market (Current events etc.) so I can remain confident on what`s around the bend, for better or for worse, with my long term hold program. I
have been a paying REIN member since November 1995 and have only missed a handful of meetings.
Even though Don has his "Solid Oak Marketing" program Ron has given me more creativity when it comes to getting out of the box when it comes to finding great deals. He has also giving me the confidence to make outrageous offers with the full expectation of getting them accepted..... (Please note: I do this with private deals directly with the homeowner vs through a realtor as many of them get annoyed with "Outrageous")
In the past I did a lot of flipping thinking it was a good way to raise money to fund my down payments and yes I made a lot of money doing it but I also sold a lot of perfectly good rentals. BUT....I did learn how to source out good deals..... Now I`m very well known for funky deals and funky marketing etc.....and for finding great deals....
Don also teaches how to joint venture whereas Ron Doesn`t.
Now I have the best of both worlds.
I find stinking good deals..... keep what I like and flip the ones I don`t want to keep as a long term hold ie a crappy house in a bad area..... but I`m not going to walk away from an ugly house thats $30-40,000 below market value just because its in a bad area. I won`t walk away because Ron taught me how to make a buck on all sorts of problem properties. When the problem is bad its the owner`s problem.... if its bad enough for them, you can get a great price on a property..... you just have to know how to solve the seller`s problem and take it away for them. If you have the solution to their problem you deserve to make a buck....and there is nothing wrong with making a quick one.
The point is.... while you`re trying to find good properties to keep for a long term "hold" you`re bound to come across properties you don`t like but can buy for pennies on the dollar. Why not take advantage of those as well and make a few dollars along the way.
I feel that I am a more well rounded investor because Don has introduced me to somebody who teaches things he is not the expert at and for that I thank him.
I can`t recommend Ron LeGrande strongly enough. If you want to experience another side of the real estate world you`ve got to see this guy.
Sincerly,
Wade Fenner
- 14 Year Member of REIN
- Player of the Year Award WinnerDiamond Member (100 or More Real Estate Purchases)5 Time Top Ten Award Winner