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.

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Customer Responses, Reviews, or Complaints


Average Rating for " REO Rockstar " is 1.5 out of 5 based on 10 reviews.

  • Rating
      
    Julie C says:

    August 8th, 2016 at 10:38 am

    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.

    REPLY
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    Donna says:

    July 31st, 2016 at 11:33 pm

    Rip off scam…REO solutions

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  • Joe says:

    June 24th, 2016 at 4:19 pm

    Scam

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  • Rating
      
    James says:

    April 14th, 2016 at 3:22 pm

    I paid $234.00 for nothing I have not received anything and have not been able to go on line. I keep getting User name not correct. The product might be the greatest real estate investment product on the market, but I can not say that as a fact because I have not been able to receive anything. In my opinion it is a scam.

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  • Rating
      
    Elliot says:

    February 25th, 2016 at 1:57 pm

    yesterday 2/24/16 i signd up for the elite package for $197 n today im trying to log in n i cant n im not even able to change the password cause they say that the email isnt a correct username

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    James says:
    April 14th, 2016 at 3:14 pm

    I have had the same problem. Can not sign in not correct username. Called customer service and received log in information able to get in once. Next time same thing incorrect user name. A lot of money $234.00 and nothing to show the dollars.

  • Rating
      
    Bobby says:

    February 19th, 2016 at 3:55 pm

    What the Hell. I literally just signed up and it says my login info is incorrect. This already looks like its a scam.

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    willie says:

    November 20th, 2015 at 8:48 pm

    I paid for their product and I have yet to be able to get online with it yeah so as far as I am concerned it is a rip-off I did not even attempt to try and get my money back because scam artists give no refunds

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    Brian Murphy says:
    April 12th, 2016 at 12:46 pm

    you can have the credit card company reverse the charge.

  • Rating
      
    Tony C says:

    September 17th, 2015 at 7:47 pm

    I cannot comment on the quality of the Program since I was not able to really examine the contents BUT the way they handle complaints and refunds is “Dreadful” !!!! Hence the Rating #1 !!!!

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    Donna says:
    June 27th, 2016 at 6:11 pm

    Refunds are ridiculous. I am still trying to get my refund. I sent it all back in the original packaging, everything. I sent it by priority mail with a tracking # so I would know when they received it. They said they didn’t receive it. I told them I knew when it was delivered because I have a tracking #.

    Then they process a refund in batches. BUT, the keep the $26.00 shipping charges, so it’s not 100% refunded. SCAM!!! SCAM!!! SCAM!! I am still trying to get one of the $97.00 charges refunded. They claim they did, but my bank says there is no $97.00 credit from REOROCKSTARS.

    REO rockstars says that they have a transaction #. Well, that transaction means NOTHING to my bank. I said you probably sent it to the wrong bank. I have no idea where it went, all I know it’s not in my bank.

    I am writing a letter to the National Association of Realtors, to the BBB and to Consumer Affairs in Washington DC and in my home state as well.

    This company is a scam company. If they send out 1000 of these a week or even a month, at $26.00 per transaction , that’s $26,000.00 per month.

    I wouldn’t even give them a star. They deserve NOTHING!!

  • Rating
      
    A.DeMarco says:

    September 4th, 2015 at 10:03 pm

    I bought their $139 package for foreclosure agents to obtain listings from banks. After I got the login I went online and watched the videos.
    By the time the package arrived I knew I would not be able to work the system the way it needed to be done. Immediately I called their office for their “Honor System Refund”, got the return information from Heckinger and sent the unopened product back 4/13/2015. Kristy emailed me that they could not refund to an updated number on my credit card. They would send a check. Now 9/4/2015 with numerous emails to Kristy she does not respond nor have I seen the refund. They must be really hard up when they have to keep $100 from an honest person!! Going to post this everywhere so people think twice before buying from Mike Costigan and REO Rockstars !!

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    Tony C says:
    September 17th, 2015 at 7:43 pm

    Same thing with me. Was out of the country and was not able to really dig into the system. Spoke to Kristy Heckinger on August 21st and was told to return the whole Package together with the RMA # that she provided to reach their office by August 24th. Sent off the package the same day through US Priority Mail and was told by the Post Office that the package will arrive at their office in Elgin, Texas by August 24th.
    Up to now, more than 3 weeks later, no refund has been tendered. Sent off a follow up email yesterday, September 16th.

    Tony C
    California

  • Rating
      
    Dan says:

    July 30th, 2015 at 5:14 pm

    Diego

    Have you used this program? If so how was it?

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  • Rating
      
    Diego says:

    July 2nd, 2015 at 12:50 pm

    I am not saying REO Rockstar is poor, I am saying this “review” is poor. So disingenuous that you write a review on something you know nothing about since you never tried it and then have the audacity at then end to “pump” your product….So low class…how can anyone ever take what you say serious?

    REPLY

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