James
Miami,#2General Comment
Thu, June 17, 2010
Hi,
I will start out by telling you that I own numerous commercial properties and have been contacted by SEVERAL so-called "Junior Partners" of Mr. Gilbert's company.
I have purchased and sold close to 60 million dollars of commercial properties in the past 10 years. I feel sorry for anyone who actually paid money for his silly "rubbish". The form he provides is such a joke that most serious sellers will not even consider taking the time to fill it out. Why are you selling? The partners involved? etc,
IN ADDITION, the criteria he uses for acceptable properties is almost unattainable. Something like 80% equity required. Seriously, who with 80% equity will JV said equity at risk with no upfront money from the other party on a risky development that they do not even control? An investor with this amount of equity in a property will sell the property directly with a non-subordinated acquisition purchase money loan to be taken out prior to construction.
The course reminds me of those "no money down" real estate programs that were so hot in the 80's and of course were all scams. The only one making commercial millions is Jason Gilbert off these poor participants who do not know any better.
One last piece of advice, most commercial sellers are contacted by plenty of prospective buyers. The easiest way we authenticate the source is to ask for a resume showing a track record of previous deals. Something Mr. Gilbert obviously cannot provide.
I am sorry you are being scammed.
Any serious buyer will pay you for a a good real estate deal without asking for an upfront fee for a useless rudamentary child-like course.
Best of luck
Ps. Ask to see ACTUAL deals this clown has done before you pay any money for his course.