You can tell that alexis is a total scam just by the way she promotes herself by slandering her competitiors thats a clear indication that her product has no value and she knows it she lines up her dead beat punters who if they had any intelligence would see through her plan. Her sales technique only works on the more foolish individuals otherwise they would choose to leave alexis alone see link to money week article below which confirms this...
Money
Http://money. Cnn.com/11/16/real_estate/foreclosure_investing_2. Moneymag/index.htm? Postversion=2007111909
In her book, McGee writes that a diligent foreclosure investor should expect to make $180,000 in year one, assuming six deals and clearing $30,000 on each. But even the successful students to whom McGee referred Money Magazine aren't making anywhere near that sum.
Lisa Carlson, a former medical sales rep who lives in Madison, Wis., says she has closed 14 deals since taking McGee's class two years ago (12 of them assignments), earning a total of $110,000 (an average of about $7,850 each).
After attending McGee's class in April Leslie Bach quit her job as a computer systems analyst and, with her husband, took up foreclosures full time in Austin.
In that year and a half, they have bought and sold four houses using bank loans, netting $100,000. Two more properties that they bought using McGee's methods have yet to sell in Austin's still lukewarm market.
McGee says that her $180,000 estimate is for California and other places where housing is relatively expensive (though she doesn't specify that in her book); investors will make less where homes are lower priced.
Dawn Connelly, who graduated from McGee's class in early September, is likewise finding it slow going.
A 32-year-old corporate lawyer and a mother of two from Stuart, Fla., she enrolled in McGee's class (and the mentoring program) to see if she could make money on foreclosures on the side. She has yet to land a deal.in fact, she's had homeowners threaten to summon the cops or even the FBI when she calls. "People get very angry, " she says.
This is not to say that Connelly or the others are unhappy. Bach says she and her husband have replaced the income from their previous jobs. Carlson says she doesn't yet make what she used to earn in sales but feels she is headed in the right direction.
And Connelly is optimistic that she will buy her first property soon. She says she's running into more people who are having problems paying their mortgage.
Recently, when she struck up a conversation with the guy installing her cable, she learned he was late on his mortgage and wanted to sell his house. "He dropped the wires and went home and got his paperwork, " says Connelly. "I am going to see his house next week. We might do a deal."
Fixing foreclosure's ground zero
As McGee's students struggle to make their fortunes in real estate, they can take inspiration from McGee and White, who've grown rich doing what they preach. At least that's what they claim.
In her book, McGee says she has "had her hand in more than $100 million in both residential and commercial foreclosure deals." She did the majority of those deals, however, in her capacity as a broker, completing other people's transactions and collecting a commission.
Her book also says she has "earned millions of dollars buying and selling foreclosure properties in good times and bad." A public records search by Money Magazine turned up only four properties ever bought by McGee, aside from her personal residences. According to her, those four deals generated slightly more than $200,000 before rehab and other costs.
McGee contends that she rarely puts her own name on the title and deed when she buys a house. Most of her deals, she says, are done though limited-liability companies (LLCs) and other legal entities in order to limit her risk and protect her privacy, a common practice among real estate investors.
When Money Magazine asked for the names of the companies she uses, McGee declined, citing privacy.
It is even harder to verify Daryl White's foreclosure track record. A search of real estate transactions in the Los Angeles County area for the past five years turned up no record of White ever having bought or sold any property other than his current and former homes in Valencia.
Money Magazine repeatedly asked White for a list of addresses of houses he has purchased in foreclosure. White declined, also citing privacy.
And while he initially said he bought all his properties in his own name, after Money Magazine said it had found no record of them, he said that he buys properties through an undisclosed private company.
White did provide Money Magazine with a 2006 tax return, which showed $645,000 in dividends from an LLC but omitted the name of the LLC and his accountant. McGee says she's seen proof of White's real estate transactions and that it is very common for her students to utilize LLCs.
That attitude irks veteran real estate investor and industry gadfly Reed, who believes that those who charge thousands for their classes and seminars should be willing to prove their investment success.
"Many gurus say they are trying to keep a low profile for liability reasons, while simultaneously bragging from the rooftops about how much money they have made, " he says. "It's totally inconsistent."
Cashing in on a foreclosure fire sale
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