David Lindahl Scam?
80David Lindahl Scam?
So what’s up with the so-called “David Lindahl scam” that’s been permeating the real estate investment world? Well, while I definitely don’t have all the answers, I can speak from my personal experience on this one. I first learned about David Lindahl and the Apartment House Riches course through the now-infamous Learning Annex tour that featured Donald Trump and Robert Kiyosaki. They came to my town, and I knew that I had to at least go and check out “The Donald”. Up until that event, I had never heard of David Lindahl, and didn’t know a thing about multi-family investing, and never even actually considered it. But, I will have to say that David Lindahl opened my eyes to the world of multifamily and commercial real estate investing. He had a basic seminar that explained some basic differences between multi-family investing and traditional single-family home real estate investing. A lot of it made sense to me; one of the things that really stood out was the way the banks treated multi-family properties differently than single-family properties when you are shopping for a loan. A bank will lend money on a multi-family property based on the amount of income it’s producing, while they mainly base how much money they’re going to lend on a single-family home on how much the appraised value of the home is. This (and other things he pointed out) really piqued my interest in investing in apartment houses. I will have to say in all fairness that he seemed like a genuine guy, and he was one of the few that I actually know first-hand that he does what he’s teaching, and doesn’t make money only on the “seminar circuit”. While I do believe there was a slight element of “hype” to his presentation, I can’t say that he was unrealistic in the things he said. He let us know the pros and cons right off the bat, and was pretty down-to-earth with his whole approach. So, long story short, I bought the Apartment House Riches course right there at the seminar, and at the time the purchase price was upwards of $700.00. But, of course, I was going to make that money back in only 90 days, right?
David Lindahl: Apartment House Riches
Well, I can’t lie and act like you can just sit back and do nothing and money is just going to fall out of the sky. He teaches in the course about the type of marketing you’re going to have to do to get leads, and he even includes some letter templates to send to multifamily property owners to see if they’re interested in selling their properties. He goes into a lot of key financial formulas, such as how to calculate net operating income, the gross rent multiplier, the “Times 10 Multiplication Valuation”, and other cool formulas to help you analyze potential investment properties. He also has some audio CD’s that I truly learned a lot from; not so much from the statements he made that were also present in the manual, but the casual statements and stories he told that gave context to some of his past apartment deals. All in all, I will say that the course was not heavy on “fluff”, but actually contained some workable, practical information. The major problem for me was, I realized only after I had reviewed all the information and listened to all the CD’s that I really just didn’t want to get into multifamily investing. I had dollar signs in my eyes, and so I went for what I thought would be a great stream of income, but at the end of the day, I really didn’t want to spend my time managing properties (or even hiring and overseeing property managers to manage my properties), and I just didn’t really have any kind of passion for multifamily investing. I know myself well enough to know that I will not stick with anything that I don’t like doing, even when there’s a promise of awesome wealth or whatever. I will also say (again, in all fairness) that David Lindahl is no stranger to the upsell; once you buy his course, he usually begins marketing his boot camp to you, which costs into the thousands of dollars, and if you think that he’s not making any money from these boot camps and seminars, please don’t kid yourself. He’s making money from apartment investing, true indeed, but he has a very nice sideline income promoting seminars and boot camps to his “students”. So at the end of the day, I cannot comfortably say that David Lindahl’s Apartment House Riches is a scam, because every business worth doing is going to take some work, but if you think that you’re going to get the whole kit and caboodle with just the initial course itself, don’t be deceived; you’re going to be solicited for more seminars and boot camps once you buy the course. So to call David Lindahl a scam is somewhat unfair, but I won’t say that he’s squeaky clean either. Just one man’s opinion.
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2 years plus now and the Lindahl office has promised to consider partnering with us on deals. They are not truthful.
They are ignoring inquiries now and not returning our inquiries.
Take it first hand from a former student. We have the records to prove it.
Me and my partner purchased a dave lindahl package.......went thru the information,,,,,,,,contacted his office for help like he said,,,,,,,,,,he is no differant than ron legrand,,,the queen of rehab,,,,the finance guy tc,,,,,they are a group that suck you in with rich skeems that leads to a bootcamp where they just sell each others materials,,,,legrand puts them all together and gets a piece of the action. But back to lindals claim,,,,,,,you can't buy like he says only if a property owner finances the whole deal for you,,,,,,without any imput....my partner owns apt rentals and has financed things for years,,,,,,,,,every deal we go to the bank with they want a 10% involvement.....they want all parties to have something at risk,,,,,,,,it is logical,,,,,,if it sound to go to be true usually it is,,,,,,lindahl is getting rich as his peers just by selling an haing these seminars,,,,,which they are good at marketing,like giving away cars and trips.....so save your money.....you can find all kinds of people who have been down our same road,,,,,,,,,lastly no bank in this country will give you an apt building worth say 500,000 or more without a downstroke or involment of some kind........slick talking dave will disappear like dave del dotto who was on tv back 15 years ago he was a scam and so is dave,,,,,,,,,sorry to give bad news but i want to save you money do not buy his stuff..........signed a smart real estate investor
What I think is amusing is that the people that say "they have invested with him" could not have done so without being an accredited investor and therefore have significant net worth, which I suspect none of the above do. Perhaps they meant that they bought his course, or attended a bootcamp (or two), if we are to believe what Ms. Tanya says.
If you speak with people who actually HAVE invested with Dave and people who have invested using the information from his courses (which also teaches you to seek out additional help & professional advisement where needed), you'll find some very happy and very wealthy people. They aren't hard to find and as I've spent considerable time with several of them, I can tell you they are open to discussing their success.
Lindahl is marketing aggressively to sell his courses, that may make his organization annoying sometimes, but certainly doesn't constitute a scam. If people are going to be accusatory, it's important that they are at least accurate.
Still very odd that someone would devote so much time to seminars etc when they claim to control 100's of millions worth of real estate just for "an ego boost" as stated in his repositioning book. He makes some good points etc etc but something just doesn't ring true about this guy and his whole system. $4000 for a boot camp and he says the seminars are not about the money? Also, how come when I google him I don't see any companies come up in the massachusets area? I thought he had active companies?
Dear "Private", I would love to speak with investors or students of Dave's program that have successfully invested after either attending a seminar, boot camp or enrolling in his coaching program. The sales person would not give me any references to contact. He referred me to Dave's website or to 'you tube videos'. I found these to be adulterated with sales material and obviously produced by the company. I am interested in contacting a student, successful or not, who completed a course and attempted to genuinely invest utilizing the tactics taught by Dave and his team. If you are such an investor, or you know of such a person, could you please refer me either to either website? Thank you.
Wake up people. All these real estate money making systems are scams. If their systems really work, why would they need you or want to teach you to become their competitors? It would be much more profitable for them to just hire some sharp people to work for them using their systems and pocket all the profits. The government does not want to regulate these scammers because they pay taxes too. As uncle sam said, "All money is good money!" - I made that one up but I think it is true....
I agree with Sj if Private good give us a reference on some successful students that went through Dave boot camp. I was just on the phone with the company and the mentoring was 10k upfront in turn they would give you back 5k on the first deal. The other 5k would be used for 1yr mentoring and website usage to interact with many other students.
I am an unsuccessful Lindahl student, very rich in real estate education. I am a successful Kyosaki/Sheets student. I cannot seem to get a deal done since I switched my training from Kyosaki to Lindahl. I spent well over $10K on mentoring and training, but just can't seem to get the wheels under motion. Mr. Kyosaki's books for a few hundred dollars created a stable real estate investment business for me. Dave Lindahl is incredibly knowledgeable, accomplished and is a fabulous teacher. Yes, you need money to institute what you learn at the training, don't let anyone kid you about that. Until I can figure out how to implement what I have learned, I couldn't in good conscience recommend that anyone spend thousands on these trainings. My very first program was Carlton Sheets. Carlton's program combined with Kyosaki's took me a long ways down the road. Be cautious of any Lindahl student fast numbers you hear. My question is how long have they kept what they have acquired in Lindahl's system (too much - too fast). Two of Mr. Lindahl's star students turned mentor just went down the tubes from too much - too fast (they are removed as his mentors). Always be cautions!!!! Know that any money you put up for training needs to be expendable, because there are NO guarantees given to you in written legal contract form. Just try and get a refund!
I found Dave Lindahl at an event put on by Rich Dad Poor Dad. 1st I must thank Mr Kyosaki for changing the way I think, It was worth every penny I spent. I must also thank him for the introduction to Dave Lindahl.
I was a realestate flipper for over 30 years, and you are only as good as your last deal. Many times I've gone over a year without a pay check doing the flipping thing. If you will shut up, and listen with an open mind, Dave's systems work. I have spoken with other students about how we feel, it's as if we know a secret and want to share it with others, but they have closed minds. Actually this is great as we have less competetion when going after deals.
Does Dave up sell at his events, hell yes, that's his business. Are you forced to buy the products, hell no. I have bought many, and passed on many more. Have I contacted his office, yes, many times, were they helpful, OMG yes!
Everytime we go to one of Dave's Boot Camps (yes, they are called Boot Camps) we leave mentally exhausted from all the information given by Dave himself. It is easy to fill up more than one legal pad with notes, you also recieve cd's with all kinds of useful information. Oh yes, there is also up selling going on, again no one is putting a gun to your head to buy anything.
These Boot Camps are very professional, and if you look around you will notice, they are quite expensive to put on also.
FYI, I'm not paid in anyway to write this. Are there some that will not benefit from Dave's teaching, hell yes. If you have an open mind (not follow blindly), are ready to push your comfort zones (quit hiding behind excuses), have average intelligence (able to pour water out of a boot) and a desire to get ahead, then this may be for you.
I'm going to put one of my email address here, and will respond to as many questions as I can. Remember I can't spend to much time answering emails, I'm quite busy analyzing Apartment Deals on nearly a daily basis, and having a blast doing it.
Oh one last thing, Dave spends a great deal of time teaching you how to stay out of trouble.
David H
llano716@hotmail.com
Thanks for the input, David H. It's good to hear from someone who has actually put Lindahl's materials into practice. Again, I think that David Lindahl is earnest in what he does, but one of my main points is that people are not going to get the entirety of the system just by buying the first course; they're going to be solicited to sign up for numerous subsequent boot camps and so forth to increase their knowledge base. This is not necessarily a bad thing, but it WILL be an expensive thing.
Wow! I just listened to a webinar put on by Michael Kimball featuring Dave Lindahl & I think it is an excellent opportunity to learn how to ASSIGN commercial real estate properties to wealthy investors. C'mon people, it's an opportunity of a lifetime right now really & you can make your own buyers list--btw, they have companies that provide proof of funds (seasoned funds) etc. so grab the good training and do deals with Dave and other investors. Attitude goes a long way toward realizing your dreams....
I would just like to say that, you get out of it what you put into anything. People get caught up on the fast and easy money that is shown on tv infomercials. I've been to a few of Dave's seminars, I've called his office and talked to his mom, so I personally don't see him as a scam artist. He's been around a number of years. Most scam artist do not last because the government takes them down.
The part of buying discount property that a lot of us miss, is that you have to talk to maybe hundreds of disinterested property owners before you find that one golden nugget that the guru's get us all hyped up about. It take patience, persistence, and stick-to-itiveness to be successful in buying real estate at a discount. Dave give's us the fundamentals of the game, you then have to get out there and get creative and add your own flair to the mix. As far as a scam...maybe it's not David, maybe we scam ourselves into thinking that just because we read a book, listened to a few cd's, and went to a seminar or two, that the flood gates of riches will magically open. It's not that easy and if it was everybody would be doing it.
@ NJ Paust: Assigning contracts can definitely be profitable, but with the commercial paper market being in a logjam right now, you really need to be cautious. Just my humble opinion, I could be wrong.
@ Abu Garcia, I wholeheartedly agree. Nothing comes easy, and the people claiming otherwise are lying. I think that Dave is a legit multifamily investor, but he's not blind to the profitability of putting on seminars either. I would love to see a full-disclosure type of document that detailed how much money he makes from multifamily investing versus how much he brings in with RE seminars. I bet it would probably be about 50/50, or even more tilted towards the seminars side.
I would like to see a financial sheet on Dave's Apartment buildings. His cash flow, repairs, taxes, no. of units, outside maintence (snow and lawn care) and so forth. In my experinces, the market changes. For example I have a 3/3 condo with 2000sf in Hawaii, which 2 years ago it rented for 2200 with an HOA fee of 525 taxes 300 a month. Today it rents for 1275 with an HOA fee of 656 and taxes 350 s month. I also own the property outright, bought New in 2003 for 330k. If I had a mortage on it, it would be a negative cash flow. Market changes with the conditions of the economy. If you bought property after 2005 for investment, you probably wished you had not. This is the same for renting.
David makes a lot of sense to me. don't think he is a scam. make sure you educate your self very well before jumping into any deal. Do think you will have to spend money before closing any deal.
I heard that David lindahl went to jail. I am not surprised. He does anything and says anything just to sell his stuff. Who wants to run an apartment building anyway.
I want to learn from honest people who do real deals
OMG, I haven't been here in quite a while. I've got to comment on Felix Xavier's comment.
To Felix: I don't know what you are soooo angry about, but if you will take some time and do a little research before inserting your foot in your mouth you might get a head even in this economy. Jail!! Now that is a little far fetched, I'm not even going to respond to that, it is so outrageous.
If you had listened to Dave even for a short period of time you would discover, he teaches you how to Manage the Management Company, not run an apartment.
On the bright side, keep making your baseless comments, I know I wont be bidding on an apartment against you.
To Powers: Dave teaches how to analyze deals so you don't get in trouble, he actually gives you current Rules Of Thumbs of what each expense should cost across the country (excluding taxes and utilities) which you can get locally.
Now here is somthing funny...after being on a webinar today with Dave & the gang .. I learned NOTHING outside of his success... Good for you Dave... keep the webinars coming... oh P.S i called your office as directed and got your voicemail??? this after being told to call in and receive my one on one coaching..Nope... no Dave in sight...:-( or ;;;:-) on a better note i learned that he was One Man with One Mower and one Dream...oh kinda sounds like and R & B Hit from the singer Tyrese (titled "ONE")!!! It changed my life forever!!! THANK YOU DAVE!!! Cant wait for your next seminar... I will show up 30min late like your "recording" did for this one!! Cheers!!
Dave stole his self storage content. He may be a "good guy" and may have ideas that a lot of other investors share at a premium, but plagiarism and copyright infringement aren't the marks of a good businessman.
David did go to jail, people need to smarten up and ask about this guys past.
When did he go to jail? For what?
Don't just assert things that damage someone's reputation, provide some backup.
@ Seriously: Did he steal the content from you? I'm asking because I checked out your site and you seem legit.
@ truth: Don't know about that...will need some proof of some kind.
@ ORLY: My thoughts exactly.
Dave stole my content too and his students allegedly got scammed by Charles Dobens who is/was one of Dave Lindahl's coaches. The SEC has filed charges against him. Jillian Sidoti is another speaker who is involved with Dobens. Here is the link:
Hello To All,
I have been on numerous webinars and have the typical email solicitations from Dave Lindahl that were for the most part, informative to me. My question is for those of you who have invested in commercial real estate, what is the BEST way to begin? I am interested in multi-family apartments and self storage, and would love the assistance, expertise, and knowledge base a seasoned mentor could bring to boost my success, but am not quite sure if the gurus selling their bootcamps, cds,and outrageously priced coaching is the way to truly begin this journey. Any input would be great as I have a sincere desire to get moving towards making this dream happen!
In reply to Heart2Invest comments. I have been in Commercial Real Estate and Construction for over 30 years. I wish I had know about people like Dave Lindahl when I started, I would be in far better shape than I am now if I had followed his systems.
This is the greatest buying opportunity of my life time, and using Dave's systems I'm trying to by everything I can. The beauty of these systems is not just how and what to do in great detail, but more importantly what not to do and how to stay out of trouble. I've attended his Apartment House Riches Boot Camp twice, and will probably do it again. I'm not a slow learner, it is just jam packed with info and is updated with info for todays market.
If you need additional info contact me llano716@hotmail.com I dont work for dave or get anything for answering your questions.
I read above about Dave going to jail, and one of his coaches having trouble with the SEC. I seriously doubt the jail part, and have heard rumors about the mentioned coach. Frankly, I'm not out to have Dave as my best friend or spend personal time with him. I have signed up for his classes because they are the best I can find out there, and his organization has treated me in an extremely friendly and professional manner. As far as his coach getting in trouble with the SEC, what did he do about it? My understanding is he immediately released the coach, does that make Dave a crook? Hell NO, don't we all know someone that has been accused of something? Does it make us bad people when someone we work with gets accused of something? Have I ever been sent a warrant in the mail for an unpaid ticket, Hell YES, does that make me a crook in my business practice, I don't think so.
My observation of Dave, having attend many of his boot camps is, he is a tough negotiator, goal driven, etical, experienced business man. Does he try to up sell at his events? Hell YES, that's one of his businesses. If I had it to do over again would I buy his products? Hell yes, just faster.
I sincerly hope my comments help you decide what is best for you.
David
Charles Dobens worked for Dave Lindahl and is now being sued by SEC for defrauding investors. Duncan Wierman and Jillian Sidoti are promoting the scum so steer clear of them.
I called the SEC attorney, Mietti Gametchu (617) 573-8921 and told her to look at Lindahl too and Big Bostonian Investments as he solicited investors illegally. He is now in the SEC crosshairs where he belongs. As for Dobens, here is the link to the SEC lawsuit: http://www.sec.gov/litigation/litreleases/2010/lr2
i had a bad experience with david too. i have since started working with other investors and teachers, none of them charge a fraction of what david charges for his $5,000 bootcamp! he is even going around now and sueing other teachers who try to teach about apartment investing! i dont know about this lady as i have bought her program and im not sure if she is legit yet, her program was good, but i havent worked on a deal with her yet, but david tried to shut her down and sued her, here is the page about it at http://www.squidoo.com/David_Lindahl_vs_Monica_Mai and she of course fought it and won, but its only a matter of time before honest people who dont screw people over for lots of money just to "work with them" start stealing all of davids business away from him. why would you pay david $5,000 just to work with him, there are investors in every city who will partner on deals if you have a good one. that is what i am working on now, i have a investor wanting to help me on a deal and he has been really nice. he has not asked me to pay him even $1 to work with him.
I used David's program myself to find multi-family properties in NH and i have succeeded. I haven't made any mistakes and haven't lost a single penny doing it. After that I got NH real estate license as finding a good realtor was harder then finding a house and I work with investors right now. You have to invest money in knowledge or use professional who knows what they are doing. You can't get up one morning and start investing in real estate. Money, time, patience and knowledge that is all you need to make it happen. I am Dave's student and it works. Feel free to contact Akvile@nhhomes.com
Read all the comments above and appreciate each individual's comment. Newly retired. Move to Texas from Michigan. Rented for 6 months while looking for an income property investment. Long story I'll make short; found an excellent Realtor (on Line). He knew exactly want I wanted; made Unsuccessful offers & One successful offer. Bought a Duplex REO-Short Sale/Foreclosure-Using VA financing at $44,000 under 2008 appraisal. One side already rented for $1,000. We basically, had a great Realtor; but was the Third Realtor we worked with.Finally, after our up front expenses, we walk away from the closing with $500 more than our up front expenses. Presently looking to invest in multi units in the DFW or West Ft. Worth,Tx. This info is not to brag; but a good Realtor is paramount.jkjmclarry@hotmail.com
I soooo desperately want to become a multi family R.E. investor. I eventually (after many, many, years of hard work) want to develope a R.E.I.T. & make a truckload of money! But I know this takes years of hard work. I currently am a residential Realtor so I know a litte about the game from the residential side. Now I'm ready to put on my helmet & get into the R.E. multi-family investor game!! To me, you're not going to be very sucessful unless your in the multi-family market. your goal is to clear $100.00 per door x's the number of units per month. My dilemma is gaining the knowledge of multi-family investing, obtaining financial investors (for I don't have the $ to provide the "skin investment" needed to buy an apartment complex), and to obtain these investors legally! For I aint going to jail for NOBODY!!!
As for Dave going to jail (which I find hard to believe), how much he makes on boot camps and sales of his products, the misfortunes of a bad coach (Charles Dobens) that he allegedly terminated, & how much Dave makes, I really don't care! I NEED KNOWLEDGE ON HOW TO BUILD MY MULTI-FAMILY INVESTMENT BUSINESS & AVOID THE PITFALLS!!! I'll bring the drive, common sense, patients, hard work and faith in God to the table. These areas will prevent me from buying products I don't need/want, and get the knowledge I need.
I've been following Dave's programs for about 6 months and have been doing my due dilligents on his courses. I have called his office several times and have received helpful, informative advice. I even have one of his numbers guy reviewing a deal for me and I haven't paid 1 dime to Dave.
I'm about to invest in the $10K 1 yr coaching program Dave offers and I like to get feedback from anybody on this - especially from David H & Akvile! Like the previous member wrote - You get what you put in it!
Feedback please folks? Hit me back...
michaeleverhardt@yahoo.com
The only comment I can add here is that I am investor and I have had tons of education and I am currently working with 2 other experienced investors doing exactly the things that all the nah sayers are talking about. Our group has 9 deals in the pipe line and we have 5 in negotiations and myself and another investor are negotiating a wholesale reo hotel deal.
It amazes me at how narrow minded broke people always are. I can say that because I have been there. It is a mind set here folks. I have never bought his coarse I plan to attend his webinar tonight. I give 50% of my deals away in order to maximize my time. There is no way I can do this alone ever and be successful. If your looking to get rich quick, this is surely not the business for you. But if you have guts and stamina and can get over yourself this is an wonderfully fun business to be in. For me its never about the money. Money comes as a result of helping other people and mostly banks bail out of a tremendous mess they are in.
It is totally about prospective.
David,
Is an ass. If you buy his product legally from him and find that you have no use for it then try to sell it he will shoot you an email telling you that you can't do it.That he has a disclaimer stateing that what you are doing (selling a product you bought and own) is illegal and he will sue you. I am thinking that is really how he made any money. Now you are not translating or reproducing the product or even passing it as your own. You are selling a product you bought from him. I looked every where on my notebooks and have not found this disclaimer anywhere. A friend of mine had this happen to her. Now she is has a lot of fire starter! lol I am not buying anything else from him. I can understand copy right and wanting to make sure no one copies your hard work but I look at it this way if you have a movie DVD and you sell want to sell it you can. How is this different? I think you are actually helping him. If they buy it from you they may go to his site and buy other things from him. As for me he has lost me , my friends, and investment group. I will never buy another thing from him again.
If it's a scam, report him to the SEC or sue him. Seeing how nobody has, and he's clearly been able to sell dreams-for-cash to boatloads of people, I don't think you're gonna see much in the way of lawsuits.
He absolutely makes a ton of cash from selling his knowledge here, and honestly it wouldn't really matter whether it's 99% of his income stream or 5% - if you want to pay $5k for a "boot camp" then you're a sucker, but there's nothing illegal/fraudulent about that.
I'm not saying I'm any better, I took a very expensive beating trying to invest, and I've also seen Dave many times in real life (in MA, at his local lectures and even at his office). I feel dumb for having spent a couple hundred back in the day on obscenely overpriced informational materials, but at least I can admit I thought I had found some "secret" to making money fast, and am not trying to blame it on him. He's smart to do what he does, and the more he sells his courses/boot camps, the better. Will 99% of his students end up doing jack-shit? Almost a guarantee. That doesn't make it a scam or illegal. If something seems too good to be true, it usually/always is - he's smart as hell for figuring out how to charge so much for it, and even smarter if he's done half the deals he boasts about. If you really think *anyone's* course is just going to give you some magic guidelines that will let you become a millionaire, you need to have your head examined. And yes, I've spent cash on these materials myself, but hearing about thousands is absurd. Here's a tip I wish I'd known back then, I would've saved a few hundred: if these materials would turn the average person into a successful real estate entrepreneur, then everyone and their mother would've made 10000 copies and we'd all be millionaires - LOL I hope you see the flawed logic in the premise of someone "teaching" you how to be a millionaire, if you don't, expect to piss away more cash, time and hopes on something that's almost sure not to materialize.
I bought my first multifamily "programs" on cassettes when I was 14 years old, it took 14 years until I bought my first units and I've been buying multifamily for 20 years. I looked at 100 deals until I found one I found 34 units to buy. Since then I've studied 3-5 deals a day and buy all the multifamily materials out there (second-hand) because I'm obsessed and simply grateful for how good multifamily has been to me & my children! I don't pay retail for my programs, never encountered a problem, if you want the hype, encouragement, or a tax deduction - do a bootcamp. Never needed a financing partner, the seller, banks, utility companies, state & local CHDC, & brokers have all provided financing, (none of these gurus ever panned out when I pursued them... like a pitbull 20 years ago!) Now I'm grateful because the only partners I have are my adult children who I gift interests to annually. Yes, multifamily is an excellent way to create a cash flow, and now is a good time in certain markets. Profitable investment requires continuous current knowledge in your market. I don't disagree with anything Dave Lindahl has said in his programs, they offer a solid, basic education, you add the determination, and a bit of luck- finding the right deal at the right time (before someone else). Fill your pipeline, and if you've knowledgeably and seriously evaluated 100 properties, at least one is a diamond in the rough waiting for a tenacious determined knowledgeable investor/landlord. FYI, my experience, and I prefer to call owners directly, is 90% of sellers know less about their properties than you will if you've seriously educated yourself! Ignore the listed price and base your offer on the fundamentals using cap rates that take into consideration the phase of the market. Then don't forget to give thanks to God!
Boo Hoo 2 all of you. Lindahl is the real deal. I have followed his systems, purchased over 18 buildings (58 units) just just got into my first 250 large apartment deal. I am happy to see all of you hanging up your sneakers and keeping out of the game. The more deals out there for me. I have closed over 3M of property in the past 3 years without using any of my own cash out of pocket. Have a nice day.
LOL. I searched this piece of shits name after opening up to a friend of mine about some incidents in the past when I was like 10 this guy was friends with my mom, or maybe more her boyfriend's friend at the time, but he chased me in a van trying to get me in it on my way home from school and there were other instances when me and my brother who was probably 6 at the time, were brought to the Cellar, (a scum bar in Abington) with my Mom and friends, and this guy was always taking my brother to the mens room, I spoke to my mom about it for the first time and she broke down in tears a few years ago,she is sober now and ashamed of the way we had to live. I am 36 now. I would give anything for 5 minutes alone with this bitch ass faggot
Hes the real deal! Ive met too many people in his seminars and have made great contacts! You have to do the work yourself , but he has great experience and teaches things such as emerging markets and financials that I havent seen any other guru teach. In the end as he says, you need to take action! which is what im doing and having a coach and investing in your future will help me along the way , but i need to take action just like anyone else!!
He didn't even show up to his seminar in the Chicago suburbs this weekend. He was supposedly meeting with an investor. I doubt it.
I bought and took Dave's Apartment House Riches self-study course and attended the boot camp a few years ago. My experience is that if you buy his offerings purely for the education and tools and use them, you'll get more than your money's worth. They are very informative. I learned a LOT and felt that even his high-priced, one-week bootcamp was a great value for the amount of information and tools he shared. He is very generous with his knowledge and expertise in front of an audience. He also has a great understanding of market dynamics and lots of useful tips in that arena. He does a great job of teaching you how to analyze deals to ensure you only invest in ones with profit potential. He also offers lots of practical tips related to managing properties. To his credit, he's also a terrific public speaker and great salesman - you can learn a lot just by watching him in action. If nothing else, the courses will help keep you out of bad deals. On the down side, if you are counting on his promises of co-investing with you as a way to feel more comfortable jumping into the market or his promise of personal coaching on deals, you'll be disappointed; he is too busy and too hardcore for the beginners buying his introductory materials. I made this mistake and felt duped. First, he fails to mention in his sales pitches that his deal criteria are so stringent that it's practically impossible to take him something he'll want to partner with you on. Second, he is very tough to reach. I had to practically stalk him. When he did finally call me back, it was from an airport, he was in a huge hurry and distracted, and he was very curt, condescending and rude. I lost any interest in dealing with him personally. So in summary, I'd say buy his materials to learn, if you're interested in multi-family. On their own, they're a great value. But don't get your hopes up of engaging with him personally on deals in any way outside of his seminars.
I just got back from Dave's business and partnering summit. What a great event! About 400 people there, half of which were L society members, me being one of them. I guess you can call me a "sucker" along with the other 150+ that are also in the L society, most of which are very successful. Most successful students are too busy being successful to bother with this kind of forum, however, I was searching for Dave's office number and came Accross this site and was interested to read it. My husband and I went to apartment house riches back in 2007 and have gone to all of Dave's seminars. We were Realtors back then and only had 7 units but wanted to buy bigger properties. We now have 72 units and we are about to close on another 29 units next month. We have invested in our business but for the most part we have used private money to buy these properties. The banks DO NOT expect you to have money in the deal, you can use investor money only. We also started our own property management business because we do like to manage properties, but this is not for everyone. Anyway, things are going great for us and it's partly because of Dave and his trainings. We have worked our butts off to make it happen but Dave and our coaches have definately helped. I just wanted to make sure people know that Dave is not a scam BUT this is also NOT an easy business to be successful in. Thank god, otherwise there would be too many people doing it! Dave and his coaches will merely help you through the process, they won't do it for you, you have to put the work into it and you will certainly be investing plenty of time and money into it. The rewards are amazing though when and IF you can make it!
Good luck!
I invested in 2 of Lindahls properties. Stay away.
Have been involved in one of Dave's investments for over 3 years. Communication, consistency of returns and professionalism of management has been absolutely awful. I am an accredited investor and this investment has been beyond disappointing and not because of the actual performance or return as it certainly was affected by the economy. This investment has been terrible because of the terrible oversight by Dave Lindahl. His courses and expertise on multifamily investing may be great, but stay away from any actual investments he promotes!
Ok I'll try to make this short being its Midnight Let me start out buy saying I have been Investing around 20 years myself nothing but real estate all kinds all types. Yes I know David Lindahl, Yes I know Monica Main, Yes I know Ron Legrand, and Carlton Sheets, and all them other guys and girls out there Yes everyone that has a courses......So here is the thing about these courses and I have told them all to there faces about it if you really set down and read them there all the same thing on how to do it just some things are said different. PEOPLE this is nothing but common scene here and if you don't want to purchase there courses then don't Some of them get on a high horse just because they have money now and they think there courses is the best WELL I'm her to tell you there all the same I don't care what any of them say because I HAVE READ THEM ALL PS STILL DO I just don't got to there classes... IF you want to do real estate then get off your ass and do it learn what you need to learn and build from there ask questions go to your local RE Club ( Shut your mouth and listen )
If you purchased one of these courses from any one out there and you don't want it sale it I do or I use it for bond fire if need be ( look guys its not that hard to do this you just need to line your self with some great people and find some lenders to fund these projects and build ( Now I will tell you this and i don't care what others say if you purchase SFR and hold for long term if you don't cash flow over $300 a month on each house your broke my friend And I can prove it. SO stop crying go out these and get your feet wet start small build up ( Here is what I would do if I just started now listen up because this is FREE ADVICE I could charge $5,000 for this.......... Find a Hard money lender in your area or Private lender Very Easy to do, Find a 4 plex in your area very easy to do just make sure its in a good area to live, buy it at 50% of After Repair Value, refinance it at 65% ARV NO more then that,, then keep doing this until you have 10 of them, (Just so you know that's 40 units ) Now after that PS you will be making great income by the way pull your funds together and purchase a 50 + unit apartment in a up and coming area. then your really going to like what happens after that... PS I know you here about this NO MONEY DOWN Stuff well its true its just tricky to do so learn it later after you build your RE up ( Best of luck to you ) And enjoy your RE Business Don't let all these chumps out here steel your dreams ( Oh and 1 more thing guys and girls if you think for 1 minute that there is any other kind of JOB out there that can pay you more then you can make in real estate you need to go put your head in the sand and leave it there............ Best of wishes the NINJA INVESTOR
Amen to those of you who have made it in the RE investing business. I'm a Kiyosaki trained investor, attended many seminars and bought quite a few one day seminar courses. Multi family is where it's at. It's not for the feint of heart, and real estate in general isn't about quick money. The crazy days of fix and flip in a month in a rapidly appreciating market are gone. However, there is no time like now to buy properties for cashflow. If you have ever played Monopoly or Cashflow to the end of the game, you will understand how it works.
It is amusing how quickly people label something they clearly have little understanding of.
Tanya 2 years ago
Dave Lindahl is such a scam it is not even funny.
I have been to NUMEROUS boot camps with him, I know, PERSONALLY, more than 20 people that have invested with him and This I can tell you for sure... he is a TOTAL SCAM...
Run for the HILLS as all he is doing is bringing people together for a Boot Camp, SELLING YOU LIKE CRAZY on other stuff when you are there (and if you did not know) and he pockets 50%+ of whatever he sells of Other Peoples stuff there too....but the MAIN reason he's got you there is to get you So Interested, So Intrigued....so Mesmerized that you "almost" want to take the first step yourself..... So he Cheats you in to Investing Your Hard Earned Money in one of his deals.....for a WHOPPING 10% return..... and that is ONLY if he makes money first.
So why wast Thousands of Dollars on a CROOK like him and PAYING him to teach you a LITTLE bit about Real Estate...enough to Scare you to NOT do it yourself....and then CON you in to investing with him....ONLY making him richer and you STILL have not been able to set yourself free.
And another thing we have learned first hand from Mr. Good Old Dave (that used to NOT have hair on his head....) is that he is NOT HONEST....not one bit....
...again, based on feed back from over 20 people that have personally invested with him.
All I can say is RUN....... Dave Lindahl is a total Scam! and so is his course apartment house riches.