Austin Davis - A review of his Commercial Real Estate Program
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Austin Davis And His Program Review
Austin does not do residential but Commercial Real Estate Property investing.
You can follow him on twitter at:
http://www.twitter.com/austindavis
He has been a investor for 30 years in commercial real estate.
Here is his bio from his twitter:
Real Estate Investor, Author, Married To My Bride of 43 years, A Father of 3 and Grand Father of 10.
His website is http://www.creprogram.com
He does not offer training on basic property details and focuses on teaching and helping people buy commercial property.
He has one of the best, if not best partnership programs in the industry - mainly because you don't have to drop thousands of dollars for a seminar just to get the right to partner up and if you find a deal and then have the seller agree to the terms needed he and or other partners will partner on the deal with you.
The program has sold for $1,500 in years past, but the online version is usually priced around a few hundred and comes with a 60 day money back guarantee.
You can follow him on twitter at:
http://www.twitter.com/austindavis
He has been a investor for 30 years in commercial real estate.
Here is his bio from his twitter:
Real Estate Investor, Author, Married To My Bride of 43 years, A Father of 3 and Grand Father of 10.
His website is http://www.creprogram.com
He does not offer training on basic property details and focuses on teaching and helping people buy commercial property.
He has one of the best, if not best partnership programs in the industry - mainly because you don't have to drop thousands of dollars for a seminar just to get the right to partner up and if you find a deal and then have the seller agree to the terms needed he and or other partners will partner on the deal with you.
The program has sold for $1,500 in years past, but the online version is usually priced around a few hundred and comes with a 60 day money back guarantee.
Austin on Twitter
From Austin's Twitter Feed
via Twitter.com
Feedback and Comments
** Old comments are below this from years past
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Craig
Feb 2, 2012 @ 2:05 pm | delete
- I started out trying to do a deal on my own with prefunding but it took longer than I wanted to wait, and I had a deal setup so I ended up going with the partner program. It is cheaper and faster to go with his partner program. That's my only point of advice, go with his partner program. Also, they say they won't do some properties, but if it is a private owner and you can set it up so it does cashflow, even if it needs some work, ask again for how to do it and if there is any other way. My deal I partnered up on was like that, it wasn't doable at first, but then I asked if there was any other options, and they helped me set it up differently.
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Maria
Feb 1, 2012 @ 11:41 am | delete
- Austin does not teach it in his program, but his staff gave me some tips on how to get more deals in creating my own scout program. Basically what I did was place ads in classifieds and got other motivated investors to find deals for me, they sent them to me on the cashflow deal form, and then I sent them to Austin's team and they reviewed them, and returned them with how to structure the deal and then I sent that to my scout, and then they got the seller to sign a LOI for it, and then the scout brought the LOI back to me and I sent it to Austin's team and applied for the partner program. I paid my scouts 10% of the cashflow, and I offered after the first deal to let them get in as a partner on the next one with me. So I was able to stop spending money on up front broker fees using the partner program with Austin, and instead of only being able to do about 2 deals a week on my own, I have now been able to with 17 scouts working for me, get in about 12 deals a week and I am not doing the work to find the deals, I am just taking the deals my scouts bring me, and then sending them to Austin's team. It is much better for my schedule (I work full time at a hospital and make good money, but my schedule is not good and I don't like where I work, so this is my plan to build a residual income and quit to stay home with my kids.). The only thing is that you do not want to give Austin's system to your scouts, I had 2 that I told, and they stopped sending me deals, I suspect they have gone direct to Austin's team now to by pass me. But, to be fair Austin's team did tell me not to give them away to my scouts as they have no way to sort through where their students come from and can not police them. I also did not have my scouts sign any kind of agreement that they can not go direct to my sources for deals, which was also my mistake. I have learned now better of how to do it. It is a learning experience, and you are bound to make mistakes along the way, but the important thing is to stay positive and do not let mistakes and things that go wrong get you mad or down and depressed. You also do not want to develop a bad reputation as someone who is hard to work with or who causes problems. I had several bad experiences before this and made the mistake of saying things I should not have and it got around to a investor I tried to work with last year. He would not work with me because of what he had heard from a bad experience with another bank, while I did have a right in how I felt, the way I handled it was not professional, and because of that bank's relationship with a high profile investor I talked to, I lost that possible relationship to do deals. Long story, but what I have learned is things will go wrong, and you have to adjust to them, be patient and don't give up or quit. Doing your first deal is the hardest, but it gets much easier after that.
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Manish
Jan 31, 2012 @ 10:58 pm | delete
- Austins Program is not bad.. But I have had a very bad experience with the funding source they tell us to use.. The funding partner provides you with funding for closing and down payment.. For this they require payment of $2500.. I have not seen that money back nor the funding from the company... A SCAM for now I belive
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Maria
Feb 1, 2012 @ 11:27 am | delete
- Before I found Austin's program I lost a ton of money on brokers on lender costs. $4200 on the first bank that declined my deal, $2900 on the second, $5100 on the 3rd. Austin suggested a couple I could try that his member's had used, but I decided to go with his partner program instead as I decided I would rather give up part ownership instead of going it all alone and paying a broker to do it for me on my own. I don't know how Austin's suggested brokers would have worked, but my partner I was hooked up said that in this market it is tricky and even solid good brokers who work on deals with past deals under their belt are having hard times with lenders in this market as guidelines are changing weekly. Don't give up though, keep at it and push for your dreams. It took me 3 years to get my first property and going with a partner on it proved to be the way that worked for me. I tried doing it on my own for 3 years, and finally decided it was better to get a partner than try to do it on my own anymore.
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Misty
Jan 30, 2012 @ 12:53 pm | delete
- i found out about his from his youtube video. i really could use a partner for doing deals. gonna check it out later this week. thanks for the info
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Derek
Jan 26, 2012 @ 12:45 am | delete
- I have been a member for just over a year now. I have only scouted on deals so far though as I don't want to partner with anyone. The money from scouting has been good and I have been able to quit my job to work on setting up deals full time with the residual income for a year on deals. It did take me a while to get the hang of setting up commercial deals as it was unlike anything I had ever done with flipping small houses.
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Sam
Jan 18, 2012 @ 1:55 pm | delete
- Thanks for the lens and building it. This is how I found his program in reading your lens and it has been helpful.
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Camel
Jan 17, 2012 @ 11:29 pm | delete
- Also sorry to hear about the lens - will you also rebuild the Mastermind Group lens?
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Sam
Jan 18, 2012 @ 1:53 pm | delete
- ya it is still at http://www.squidoo.com/austindavis
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Jamell
Jan 17, 2012 @ 10:53 pm | delete
- I would like to find other AMG members in the DC, Maryland, and VA to form a commercial real estate acquisition group using Austin's program. I think multiple people working together using his resources could be very powerful as 2 or more heads are always better than one. If you are interested please be an AMG member and Facebook me.
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Mark
Jan 16, 2012 @ 4:55 pm | delete
- Sorry to hear about your lens. Thanks for keeping it going.
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Comments from my old lens that I salvaged (old lens was hacked and I lost a lot of data)
You can add comments below these old comments
Priscilla Jan 7 @ 2:39 pm
We bought the program last summer and had a family emergency not long after, so were delayed in getting started for a few months. When starting it was all new to us and we had never bought an apartment building before. We started looking for properties as explained in the mastermind group report and about 3 weeks later we started getting calls at our office from property owners who were interested in getting offers from us. We didn't have enough capital to buy a property on our own, but had decided to use the partner program to get capital for our deal in return for giving up the part ownership. We were not very wild about having a long term partner so either wanted bought out or wanted the option to buy our partner out in the first few years and asked if that would be doable and it was explained it would have to be presented to our partners on a case by case basis, but was very possible. After our 5th letter of interest we made on a property we got a seller who was very motivated to sell and they signed it in the first 24 hours of sending it to them. We then sent the package with everything that was requested in for the partner program and it was placed with a investor who wanted to partner with us 5 days later. They wanted 35% ownership in return for bringing the capital to close the deal, but wanted paid back from the property cashflow at $2,000 a month and then our share of cashflow would be taken from what was left each month. They put up $24,370 up front so after the first year we would have that payment no longer taken from the amount of cashflow. They also offered us the option to buy us out for 30% of the property equity or we could buy them out for 30% of the property equity and that option extended for 5 years. After that we agreed that we would split the property equity 50/50 on a buy out or if we sold it that we would get 50/50 equity at any time. So while it did take us several months and was slower than we thought it was going to be, over all it did allow us to get ownership on an apartment building that we would not have been able to otherwise and for under $1,500. I like that the program did not require us to pay $10,000 for a bootcamp and that we were able to get started without having to travel any where (my job does not allow me much time off from work and getting away would be hard). Our real estate is part time for me and full time for my husband, but we are certainly not millionaires yet. My husband had been in residential real estate for over 20 years, but had just made a living and never had been able to save much money for us nor have I been able to either. With our apartment buildings we plan to build a residual income so that we don't have to worry about our retirement as we have both lost over half of our retirement from this bad economy and we didn't have all that much to start with. With the cost of rent just going up and many people now looking to rent, we felt that real estate apartments was the best way for us to build a strong residual income for our future. We will also be able to pass on to our children a heritage now with assets that will keep making them money after we are gone one day. We don't want to sell, and do hope to be able to buy out our partners one day, but even if we get bought out on this one, we will have a nice profit to use in buying our next one without a partner. We are now working on 2 more deals and are looking to hire an assistant for our office to help us with more leads this year.
Kelly Jan 6 @ 10:52 pm
We would love to work with you on some deals. Just a question of getting in contact and setting the parameters. We need to get together. We need deals and have a buyer's list. I'm interested in your scout program and networking with you. I'd be glad to help you find more deals within your parameters. Let's talk as soon as possible. We would be glad to partner with you. I would like to partner with you. We have deals. Let's talk. Really inspirational. I'd like to find some more deals for you/us. Let's get in contact with each other.
KellyDG Dec 30 @ 3:05 pm
I'm so glad we found this forum! I'm Kelly, and my partner and me have been floundering around for a while trying to figure out how to get a deal put together. Sounds like Austin and his AMG have created a big shortcut(s). We are reflecting and considering joining his AMG; I don't think that's going to be a hard thought process and/or decision. A great side benefit of this forum is the ability to network and that's what I'd like to do.
Collectively, we have a lot to offer: I'm a commercial appraiser and he's a commercial mortgage broker. I've taken courses from Lindahl and Monica Main and been exposed to several more and are sick of being upsold at every turn. I've also done a couple of turnaround/repositioning multifamily deals and would be glad to give advice-for whatever it's worth.
I'm reluctant to say more as we've just found out about Austin and his AMG and am
looking forward to exploring his different programs and benefits. However, I will say that we are actively looking for deals and are about to put out our first mailing after the start of the year. Also, is there any other forum (besides Squidoo and the AMG)? Looking forward to contact with other serious, like-minded investors.
Jamell Dec 7 @ 11:25 am
How do you get the sellers to agree to terms. I'm having a lot of trouble in this area. I have A LOT of deals coming my way but the LOI's are getting rejected due to the seller concessions that I'm instructed to put in there. I would even be willing to partner with someone on here if they could help me close some deals. Just yesterday I had scouts bring me around 10 deals but I don't know if I can do this alone.
Sam Dec 9 @ 11:38 am
Not every seller will take your first offer. Some you have to work with and others you have to just wait until they become more motivated.
Pete Nov 19 @ 1:24 pm
I bought the program back in 2008 or 2009. Tried it but basically I fizzled out and never followed through. I decided to try it again when I got a invite for the mastermind group on a 7 day trial and joined up. I found a nice 24 unit property that was left to the kids of the previous owner and they were very motivated to sell so I followed the steps and got help with Austin's team on how to set it up and also got help in finding a partner since I did not have any cash to purchase it and I do not own any real estate or have any experience so wanted someone who did in with me on it. My partner put up $21,000 for the deal and we got a mortgage from a private lender on it. I was able to get 60% of the ownership on it, but as a investor only without managing control as my partner wanted a professional management company to manage it. I did not want to do that since we have to pay them, but looking back I now see that it is better to have them manage it instead of me trying to do it since I really don't know anything about managing a property. The staff has been very friendly and patient and helpful along the way. I am looking forward to my next deal. My hope is to eventually have enough cash and property that I can partner with other students and spend more time doing that than looking for deals.
jack Oct 19 @ 2:50 pm
wasnt super easy to figure out and did take a few months to get a deal to partner on. partner paid the $22k for the up front costs for our deal and agreed on a 40% ownership. easy enough to use the network now that it is understood. guess like anything it just takes experience to learn what to do. imagine for most people the learning curve the first month or two is going to be slower if it is all new stuff to them like it was for me.
Dan Oct 16 @ 5:36 pm
We bought Austin's program last year on sale for $300 unsure if it would be as good as the other teachers in commercial real estate that charge a lot more. Since then I have come to wonder why I had paid so much for programs in the past, thinking that because they were $1,000 or $2,000 that they had to be worth it and top of the line. Oddly, even though Austin's program was not much, the customer service and professionalism that Austin's staff and the other members we have worked on deals with has been top of the line. While we are mastermind members and get premium help now, even during our free support when joining during the trial period we got we were impressed with the help we got on deals. Although, it is not perfect and it does have some fall backs that are less than ideal. The time for requests for help do take a few days most of the time to be resolved and the number of deals we get presented to partner on as cash partners is less now than it was a year ago. Most likely because there are now more people with cash who want to partner on deals than members who want to put in the time and work to find new deals for us (and other members I'd imagine too) to partner on. Also, I would imagine that Austin and his investors are picking and choosing the deals so that they get the best ones and we as members are getting the ones they pass on. True, that the deals we have been presented are good and we have been glad to be able to have the chance to get in on them, but I just wish that we could get more deals to get in on presented to us as members. We are also working on starting up a scout program of our own as suggested by Austin to bring us more deals. All in all, while it is not a perfect program in all ways, it is nice to not be forking out tens of thousands a year in fees to be a part of the program and network.
(All years past data I have not been able to recover and repost yet).
We bought the program last summer and had a family emergency not long after, so were delayed in getting started for a few months. When starting it was all new to us and we had never bought an apartment building before. We started looking for properties as explained in the mastermind group report and about 3 weeks later we started getting calls at our office from property owners who were interested in getting offers from us. We didn't have enough capital to buy a property on our own, but had decided to use the partner program to get capital for our deal in return for giving up the part ownership. We were not very wild about having a long term partner so either wanted bought out or wanted the option to buy our partner out in the first few years and asked if that would be doable and it was explained it would have to be presented to our partners on a case by case basis, but was very possible. After our 5th letter of interest we made on a property we got a seller who was very motivated to sell and they signed it in the first 24 hours of sending it to them. We then sent the package with everything that was requested in for the partner program and it was placed with a investor who wanted to partner with us 5 days later. They wanted 35% ownership in return for bringing the capital to close the deal, but wanted paid back from the property cashflow at $2,000 a month and then our share of cashflow would be taken from what was left each month. They put up $24,370 up front so after the first year we would have that payment no longer taken from the amount of cashflow. They also offered us the option to buy us out for 30% of the property equity or we could buy them out for 30% of the property equity and that option extended for 5 years. After that we agreed that we would split the property equity 50/50 on a buy out or if we sold it that we would get 50/50 equity at any time. So while it did take us several months and was slower than we thought it was going to be, over all it did allow us to get ownership on an apartment building that we would not have been able to otherwise and for under $1,500. I like that the program did not require us to pay $10,000 for a bootcamp and that we were able to get started without having to travel any where (my job does not allow me much time off from work and getting away would be hard). Our real estate is part time for me and full time for my husband, but we are certainly not millionaires yet. My husband had been in residential real estate for over 20 years, but had just made a living and never had been able to save much money for us nor have I been able to either. With our apartment buildings we plan to build a residual income so that we don't have to worry about our retirement as we have both lost over half of our retirement from this bad economy and we didn't have all that much to start with. With the cost of rent just going up and many people now looking to rent, we felt that real estate apartments was the best way for us to build a strong residual income for our future. We will also be able to pass on to our children a heritage now with assets that will keep making them money after we are gone one day. We don't want to sell, and do hope to be able to buy out our partners one day, but even if we get bought out on this one, we will have a nice profit to use in buying our next one without a partner. We are now working on 2 more deals and are looking to hire an assistant for our office to help us with more leads this year.
Kelly Jan 6 @ 10:52 pm
We would love to work with you on some deals. Just a question of getting in contact and setting the parameters. We need to get together. We need deals and have a buyer's list. I'm interested in your scout program and networking with you. I'd be glad to help you find more deals within your parameters. Let's talk as soon as possible. We would be glad to partner with you. I would like to partner with you. We have deals. Let's talk. Really inspirational. I'd like to find some more deals for you/us. Let's get in contact with each other.
KellyDG Dec 30 @ 3:05 pm
I'm so glad we found this forum! I'm Kelly, and my partner and me have been floundering around for a while trying to figure out how to get a deal put together. Sounds like Austin and his AMG have created a big shortcut(s). We are reflecting and considering joining his AMG; I don't think that's going to be a hard thought process and/or decision. A great side benefit of this forum is the ability to network and that's what I'd like to do.
Collectively, we have a lot to offer: I'm a commercial appraiser and he's a commercial mortgage broker. I've taken courses from Lindahl and Monica Main and been exposed to several more and are sick of being upsold at every turn. I've also done a couple of turnaround/repositioning multifamily deals and would be glad to give advice-for whatever it's worth.
I'm reluctant to say more as we've just found out about Austin and his AMG and am
looking forward to exploring his different programs and benefits. However, I will say that we are actively looking for deals and are about to put out our first mailing after the start of the year. Also, is there any other forum (besides Squidoo and the AMG)? Looking forward to contact with other serious, like-minded investors.
Jamell Dec 7 @ 11:25 am
How do you get the sellers to agree to terms. I'm having a lot of trouble in this area. I have A LOT of deals coming my way but the LOI's are getting rejected due to the seller concessions that I'm instructed to put in there. I would even be willing to partner with someone on here if they could help me close some deals. Just yesterday I had scouts bring me around 10 deals but I don't know if I can do this alone.
Sam Dec 9 @ 11:38 am
Not every seller will take your first offer. Some you have to work with and others you have to just wait until they become more motivated.
Pete Nov 19 @ 1:24 pm
I bought the program back in 2008 or 2009. Tried it but basically I fizzled out and never followed through. I decided to try it again when I got a invite for the mastermind group on a 7 day trial and joined up. I found a nice 24 unit property that was left to the kids of the previous owner and they were very motivated to sell so I followed the steps and got help with Austin's team on how to set it up and also got help in finding a partner since I did not have any cash to purchase it and I do not own any real estate or have any experience so wanted someone who did in with me on it. My partner put up $21,000 for the deal and we got a mortgage from a private lender on it. I was able to get 60% of the ownership on it, but as a investor only without managing control as my partner wanted a professional management company to manage it. I did not want to do that since we have to pay them, but looking back I now see that it is better to have them manage it instead of me trying to do it since I really don't know anything about managing a property. The staff has been very friendly and patient and helpful along the way. I am looking forward to my next deal. My hope is to eventually have enough cash and property that I can partner with other students and spend more time doing that than looking for deals.
jack Oct 19 @ 2:50 pm
wasnt super easy to figure out and did take a few months to get a deal to partner on. partner paid the $22k for the up front costs for our deal and agreed on a 40% ownership. easy enough to use the network now that it is understood. guess like anything it just takes experience to learn what to do. imagine for most people the learning curve the first month or two is going to be slower if it is all new stuff to them like it was for me.
Dan Oct 16 @ 5:36 pm
We bought Austin's program last year on sale for $300 unsure if it would be as good as the other teachers in commercial real estate that charge a lot more. Since then I have come to wonder why I had paid so much for programs in the past, thinking that because they were $1,000 or $2,000 that they had to be worth it and top of the line. Oddly, even though Austin's program was not much, the customer service and professionalism that Austin's staff and the other members we have worked on deals with has been top of the line. While we are mastermind members and get premium help now, even during our free support when joining during the trial period we got we were impressed with the help we got on deals. Although, it is not perfect and it does have some fall backs that are less than ideal. The time for requests for help do take a few days most of the time to be resolved and the number of deals we get presented to partner on as cash partners is less now than it was a year ago. Most likely because there are now more people with cash who want to partner on deals than members who want to put in the time and work to find new deals for us (and other members I'd imagine too) to partner on. Also, I would imagine that Austin and his investors are picking and choosing the deals so that they get the best ones and we as members are getting the ones they pass on. True, that the deals we have been presented are good and we have been glad to be able to have the chance to get in on them, but I just wish that we could get more deals to get in on presented to us as members. We are also working on starting up a scout program of our own as suggested by Austin to bring us more deals. All in all, while it is not a perfect program in all ways, it is nice to not be forking out tens of thousands a year in fees to be a part of the program and network.
(All years past data I have not been able to recover and repost yet).
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