[b]I was doing a search online for info on flipping real estate and i came across an ad for REO Rockstar where the author states he will share with you in his free video http://link.tbtrack.com/SHaa his secrets to how he Flips 10-15 bank-owned foreclosure houses every single month...

without ever closing on them

without using any money or credit

without any risk whatsoever

without any experience needed

without any manual labor

Anyway... I wanted to know if anyone has purchased his course and if so what are your thoughts on it?

Thanks,

Martin[/b]

If it sounds too good to be true ........................

... without ever closing on them: sounds like he's a contractor who's remodeling for the owner.

... and all that follows in that list sounds like a bunch of baloney.

FWIW, I am at the point where as soon as I hear the term "Rockstar" attached to anything, I hold my purse tight and run the other direction.

Chances are the author will end up in prison at some point.

I've never purchased that particular course, but I've purchased others. Some of those "guru" manuals have useful information. If you really want to check it out, try finding it on ebay or craigslist. You can usually find a good used copy for a lot less than what it sells for new.

REO Rockstar is a product of Preston Ely, who is a pretty well respected Investor. As far as not owning the homes, he is merely assigning the contracts, or he is using an LLC to write the offers and simply selling the LLC when he puts the homes under contract; essentially he never owns the home, but rather owns the right to buy the home after contract is accepted. This is a form of wholesaling (perfectly legal), and the key is to write a lot of offers!

REO Rockstar is not a product of Preston Ely it is product of a very repected Tampa Investor/RE Agent Lee Kearney. Preston just got it was just now hired as a pitch man since that all he really is a Sales men who gets higher to pitch real estate products for investors. Now if you can get yout hands on the original by Lee it would be worth it, it is the same art work with Lee's name instead of Preston. It is not a digital version it is all hard copy. It is a very detailed course a lot to read but they don't miss a beat.

A word to the wise this is not a very good place to get Real Estate Investing advice too many naive agents brain washed my the NAR to believe flipping Reo's, short sales, and wholesale is illegal. Try Biggerpockets.com best REI blog this one is only great for Real estate agents.