Lee Arnold claims his programs are the quickest way to generate side income whenever you have extra time. I am sure you have read my other reviews of Lee Arnold’s programs. If not, he is a real estate guru who teaches people how to lend money to those who want to buy properties. He is also the CEO of Cogo Capital, a private lender for fix and flips property investments. So, Lee wants you to work for him finding these types of people, then connecting them with him (Lee), and you’ll get a nice little fee for your work. Here’s my review of his program. But, before we continue…
Let’s Now Compare This To Brokering Loans
First, Lee claims you can do this online, work from home, and spend as much time as you want. His system is recession-proof, so that it will work in any market condition. Why? Because people will always need money. Plus, Lee has done his research and knows that many people are getting involved with house flipping, so a lot of money is to be made. Finally, Lee claims this is an excellent opportunity for you to get money in the hands of property investments and grab some money of your own in the process. He is right because I know you can make a lot of money from properties. Here’s a question, imagine getting 2K-3K per month from Lee for referring people over to him…how does that sound? This will be your referral commission, and you don’t need to spend any of your money. You don’t need good credit, exceptional training and education. You need to be able to network so you can close some deals….it’s that simple! Again, find investors, fill out the documents, send them to Lee, and get a broker check handed to you. Lee keeps repeating this, so I think there’s a catch somewhere. Now, here is where the catch comes in…
Lee says you have to spend time finding people; from my experience, this does take time and money. For example, running ads and you have to follow some rules too, like first lien position only (whatever…I have no clue what this is). Also, you must follow the lending practices like not loaning out more than 55% of the property’s value. Then you have a rate of return per annum, origination fees, and points terms. This is all beginning to sound like a headache, pushing me away from joining the program. But here’s what Lee has to say:
This terminology sounds confusing, but He promises that the system he provides will clear it up for you. First, you have to have the drive and motivation for real estate. Even if you don’t care about real estate but love making money, this program is the RIGHT stuff for you. Hmmm…ok, so how can you get involved and find potential investors. Well, what advertising methods are you allowed: one of mouth, online ads, radio, brochures, and even billboards are acceptable. You can network with other real estate agents and brokers. You can attend real estate seminars and even ask people you know in the industry for referrals, then give them a cut of your profits. As you can tell, there are some excellent ways to market yourself. But one thing that scares me is the rules and policies. But what happens if your connections connect Lee directly? Will you still get a cut? Lee promises this rarely happens; if it does, you will get your cut…not to worry.
Finally, here are my closing thoughts. First, you are doing a commission-based job, which is challenging in a competitive market like real estate. Second, you have to invest a lot of time/energy, which can be draining. Third, if your clients don’t get approved, you won’t get a commission, so you did all that work for nothing. And four, Lee’s Broker Certification training course costs $1500.00, which is a lot of money for some people. Anyways, do your research and check out my other favourite program.
I have spent my life reviewing thousands of programs, courses and spoken to coaches worldwide to help you make the RIGHT choice when starting your business. And here’s what I’ve LEARNED and why I HATE many of the programs out there!