Course Review: Paul Wells The Self Proclaimed “Foreclosure King”

With Paul Wells coming to a city near you trying to peddle his course on the unsuspecting new investors, I felt extremely compelled to write about my experience with him. Now I have to warn you… this is NOT a marketing product review.

Paul Wells sells a preforeclosure course that is supposed to walked you through the foreclosure process in details. He sometimes will even offer a 1 day seminar to sell his course to Real Estate Investor Clubs.

Well, I had the pleasure of attending his 2 hour presentation, 1 day seminar, and read and listen to his course.

I have been debating for a while if I should write a review on him because I honestly have nothing good to say about him. I finally decided to do it because he is coming to my town and I know many of the new investors who will be fooled by him.

Lets talk about Paul first then we’ll go over his course.

Paul understands stage selling, and information product marketing otherwise he obviously would not be where he is today. I have to say, it takes dedication and hard work to become a "national speaker" although I have doubts sometimes. I have a feeling he listened to Ron Legrand’s excellent course on public  speaking and ran with that idea.

His level of knowledge about Real Estate is lacking at best. He tries to pretend to know strategies he has no clue how they work and I have corrected him on how dead wrong he was. Mr Paul… if you purchase a second mortgage, that DOES NOT WIPE the 3rd off. PLEASE do not get all excited when you make such huge mistake in front of investors. Mr Paul, when you get called on it, PLEASE admit you were wrong and not back peddle and claim "oh thats how we do it in Colorado, it is different here (Texas).

To be fair, Paul had couple of good Marketing tips. Placing your letter in a FedEx envelope and leaving it yourself in front of prospect’s house is an excellent idea. I like that. The other tip was holding a stack of bandit signs and drilling a hole in them at once to save time on drilling them one at a time. He does go into some details about discussions he had with loss mitigators and the short sale process. He explains how short sale process works at a high level.

As far as his course goes, it is a single sided double spaced hugely overpriced book. A book that no publisher would bother to publish. That is probably why he turned it into a course and sells it for hundreds of dollars.

Along with the course, you get sample letters and marketing material other investors send to people in foreclosure to copy from. Excuse my ignorance, but if they called you and not them, that usually means their material doesn’t work. Besides, after closer inspection, they were all sent to the same distressed home owner. I honestly believe he got a call from a home owner, went over and asked for the other mailing that home owner received and turned it into a "bonus" product.

There are some other items that comes with the course that have high perceived value, but in all honesty are worthless.

Paul Wells self proclaims himself as the "foreclosure king". sorry Paul, but King you are not. I would not even describe you as a queen, or a princess. I would probably slap a pointy hat on your head and call you a clown but that is as far as I would go.

If he comes to town near you, do attend if it is free event. It would be a good opportunity to network and you might pick some good tips. But do not invest your hard earned money into this joker’s system.

 

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© 2008 Fadi Zeidan's Articles.