REO Rockstar Reviews – Legit or Scam?


REORockstar.com
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REORockstar.com

 

REO Rockstar is a new program being promoted by Preston Ely which claims to give anyone the ability to flip foreclosed homes each month, without using any money or credit, and without any risk.

Traditionally, the term “flipping houses” comes from a real estate investment concept centered on buying cheap homes, fixing them up, and then quickly turning around selling them for a profit.

Unlike the traditional method of flipping houses, Ely says that you will not need to do any work on the houses you acquire – in fact, according to his presentation, with the REO Rockstar system you can get a house and flip it for a profit in less than two hours.

How Does REO Rockstar Work?

Ely says this program is made possible through a secret loophole in the $787 billion stimulus bill which allows people to flip specific types of foreclosed properties without closing on them, without using your money or credit, and without risk, experience, or manual labor.

These properties are REO, or real estate owned, properties meaning that they were foreclosed on and remain in the ownership of a financial institution due to unsuccessful attempts at selling these properties at foreclosure auctions.

But having these unsold foreclosed properties on their books is actually bad for the banks, so the banks are willing to let them go at a fraction of their value.

The REO Rockstar online training system consists of an eBook, a series of how to video training sessions, all the forms and contracts you will need, email support, and more, all for just $37.

The Concerns

It is always healthy to be skeptical regarding systems which claim that they can teach you how to make money using secret methods that they will reveal to you after you have paid them. However, REO Rockstar is not the first home study course on real estate that makes these promises.

Perhaps the biggest issue with this program is its sales method. Preston Ely’s entire presentation is focused on convincing you how easy this system is, how anyone can do it, how you’ll be able to use his automated system to sell houses for you while you are “laying next to the pool.”

He even says directly in his presentation and on his sales page that this system takes so little effort that he – the “laziest guy he knows” – can be successful with it.

However, in direct opposition to this is their earnings disclaimer, which says that to make money with this system takes lots of hard work and effort and that “lazy people” will not be successful with this system.

It is not uncommon when selling any product to try and cast it in its best light and to highlight all of its attributes so someone will want to buy it. That’s what selling is. But to base your entire sales pitch on how even the laziest person will be successful with your system but to say directly in your fine print that this is a system requiring hard work and lazy people will actually not be successful with it, well that’s just deceptive marketing.

If you are still willing to pay the $37 for the system to see what is involved, be aware that if you have complaints regarding what you receive, they have no refund policy stated in their Terms & Conditions.

If you're at OpportunityChecker.com because you are looking for a way to make money online then check out our article "7 Ways to Make Money Online" - methods that anyone can use to earn an income from home.

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Customer Responses, Reviews, or Complaints

Average Rating for " REO Rockstar " is 1.35 out of 5 based on 20 reviews.
  • I believe this is a scam
  • Guess I needed this page when they started this crap. Agreed to pay 97.00 3 months. Now I have monthly subscription for 65.00? What the H E Double toothpicks! Check your bill when you sign up!
    • In the seminar 7/30/2020 and he has not reduced the cost originally from $2197 to 3 X $97 and now, to just 2 X $97. He keeps saying, don't have any time to answer questions now, sign up for course first then ask questions. Glad I found this page. This is truly a scam, preying on those of us who are having financial difficulties. I hope Karma gets him.
  • After reading all the comments from all the gullible people I would not sign up this program. I have posted several places to be aware of this scam artist.

    In his presentation he has invited and encourage the agents who are totally new and have not sold a single property. That made me suspicious of this person as no reo company will entertain if you have not sold atleast 10 houses a year or are in a grp of several agents. Your application also have to go through the broker who will be paid the commission not you as an agent.

    Any listing you have from these REO vendors it is with your RE Company not with you so your broker of the record has a big control on them.

    This scam artist is hitting all the new desperate agents or those who are losing the business.

    Stay away from any such deals.
    • They have been charging my credit card and now I am up to $454 dollars. They do not make that readily apparent and I just checked it and thought I was paying like $250 for the course but now I am out Almost $500!!! For what?? I was only supposed to be charged for the first initial video?? SCAM! Another $97 and $67 just came out of my account!! And there is no number to call etc. !!!
  • I asked for a refund today 5/16/19 Ordered subscription yesterday & the classes the day prior. I will keep you posted on the refund.
  • That's an old book. I remember ordering that book years ago. Although there are sime good tips, some of whats in that book are not as relevant today's world. A lot of it is rehashed information.
  • It is a scam. The first scam is with the billing. They state you will be charged $300.00 but fail to disclose you will also be charged an additional $69.00 per month for absolutely NOTHING! They lead you to believe that they will give you information to gain access to bank owned properties. That is not the case. You listen to a video for which you pay $300 only to find out that there is another video that you need to listen to and then another video, which leads to nowhere, etc. Each month they are charging you $69.00 for nothing. I feel they are misleading in their advertising and are not open and upfront with their billing. I would not mind paying for a service that had some value. This has no value at all. Save your time and money.
    • Why have you not filed a complaint with fraud division of your state and federal for misguiding and false advertising.
  • Here it says $37 a month?

    At the webinar its for $97 a month.

    Which is correct?
  • Please let me know if anyone has been successful at receiving a refund. After receiving the first video about their product, I knew this was not for me. My credit card is being charged every month!!!
  • SCAM!

    Check your credit card statements! They continue to charge random amounts on a monthly basis!
  • After reading the reviews, I'm relieved that I did not jump at this "facade" opportunity. Thanks to everyone for sharing your experiences and thoughts.
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