REO Rockstar Reviews – Legit or Scam?
from 16 reviews Review It


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 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 1.38 out of 5 based on 16 reviews.
  • 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.
  • 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.
  • I Called to get my full refund within the 60 days... It's been almost a year and nothing... I am also being charged monthly still. BS...
  • I requested a refund within several days and Kasey and Mike are refusing to provide a refund. Mike states over and over, in his webinar, for any reason you will receive your refund. I did not participate in any of their events or request any of their products.

    They state that they mailed lifesavers and a thumb drive. I did not receive. They are refusing to refund even with the allotted time.

    Don't believe anything Mike is saying. He is proving to NOT be a nice guy, poor business man. False statements about sharing and wanting to give back. All lies. RUN RUN RUN. DON"T TRUST THEM.
  • after paying the $37 and the site saying immediate access I find out I can't login. It keeps telling me wrong password or member not registered.
  • I received the package. After serous thought wanted to return for my 60 day refund. I had to leave a message, finally got call back next day and was told how to return package with very specific numbers and letters on outside of box so I would get credit. I followed instructions to a T and am still waiting on my refund. Have sent several emails. My tracking said package was left at garage door. I searched the address and his office is his home in Texas! Nice horses Mr. REORockstar, now please refund me my money.
    • The creator of the real rockstar doesn't actually live in Texas. Source: I worked at his brokerage four years.
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