Steve Maletos: Foreclosures Guru Vanishing Act?
Hey guys, what’s up?
Paul here, Real Estate Spy.
Thanks for dropping your ‘chute down into my meadow of real estate. Fold her on up and join me. I’ve got a table set up just over here with a coupla’ mugs of steaming java, made to perfection with a teaspoon of sugar and a glug of half ‘n half.
Today’s review of Steve Maletos is gonna be pretty short and sweet, so you can be on your way soon.
First, can I ask what brought you in? (Aside from the fact that it’s a gorgeous day for a sky dive, and I have the best landing site in the northern hemisphere.)
Has your day job turned into a gym grind? Pounding out the miles on that damn Elliptical, never going nowhere?
Lemme guess: you’re here to check out a new gig. Rock a new tune. Find a new beat. And real estate investing looks like it might be the thing. Amiright?
I get it. I was you.
A bunch of years ago, I dove into real estate investing like a frat boy into a sorority bash. All the way, baby. No holds barred.
I bought and sold properties. Did the fixer-upper thing. Flipped stuff. Held stuff. Aaaaaaaand . . . lost stuff. All my stuff, actually, when the market crashed like the Hindenburg.
Face Down in the Floratam
Found myself on the front lawn of the sorority house, butt nekkid and face down. And cold. So cold.
Guy named James walks by and spies me amongst the blades and goes, Dude, forget that real estate investing sh*t. I’ve got a different gig for you.
I turn my face sideways on the grass and peer up at him with a single bleary eye.
–Digital property management, he goes. –Check it out, man. So much safer than real estate your ole man’s way. With as much or more income potential!
So I sit up, stand up, and follow James. And the rest is history. (Don’t worry. I haven’t forgotten friend Steve. We’ll get to his review in a sec.)
I got into digital property management—which, by the way, I’d never heard of before—and did it James’s way and experienced what he said.
Soooooo, you ask, why are we talking about that?
Because, my friend, as long as you’re here checking out options for your new tune, new beat, and new gig, I want you to check out this option too. Makes sense, right?
So, take three minutes and watch this video. It’s James, introducing you to his gig.
Seriously. Watch it. Three minutes! It’s just an intro, and if it snags your interest, you can take the next step for more info. Catch ya on the other side.
First I’ll refill your mug, glug in a lil cream, swish it together. . . .
Steve Maletos. Here we go.
When I first started checking this guy out, I thought I was on to a big-time guru. I found references to his dedicated website, his book published just a few years ago, and his investing course. (All common elements of a guy or gal rocking a successful investor educator schtick.)
And I did not find negative reviews or newspaper articles about lawsuits or bankruptcy or anything that made me go, –wait, something un-guru-ish happened here.
But the more I looked, the less I found. So unless I missed something, Steve Maletos is up to something else these days other than real estate investing education.
Here’s the story.
The Beginnings: Background and Bio
Steve Maletos sings his own version of the tune that many of us have also sung—I had a house, I lost a house, la la, I had enough money, I lost all my money, la la.
When Maletos’s house went into foreclosure, he had the misfortune (or the good fortune, depending on how you look at it) of overhearing the investor/buyer of his home crowing about the deal he’d gotten. He’d bought Maletos’s house at 45% of market value and planned to make a bundle re-selling it.
Wth? thought Maletos. That investor knew something that Maletos didn’t, and Maletos was going to find out what. And then do the same thing himself with that knowledge.
He knew he faced a climb as vertical as the front face of Half Dome, what with his abysmal credit, his bankruptcy and the foreclosure. Nope, it wasn’t going to be a skip through the daisies with lenders lining up to get on board with his projects. He knew that.
He got as much info on real estate investing, particularly foreclosures, as he could get and read it all. His first goal was to somehow get money to buy real estate with. His next goal was to turn over his real estate purchases in under four months. He did both.
Maletos became an expert in foreclosure deals, first laying down a bunch of his own deals, and then later creating a training program to show other investors how to do what he did. He had his own website, www.FastCashinRealEstateForeclosures.com and www.TaxForeclosureInvesting.com. He also wrote a book, Fast Cash in Foreclosures, self-published in 2012 and listed on Amazon.com but not currently available.
I mentioned a few paragraphs back that Maletos does not seem to currently be active in the real estate investing education field. Why do I say this? Because using my super-sleuth powers I discovered that his fast-cash foreclosures website isn’t live and his foreclosures investing course isn’t available for purchase anywhere (when you click on the Buy It Now link, you get taken to a placeholder page).
Also I could find no Steve Maletos presence on Facebook, Twitter, or YouTube.
Most real estate investor gurus have an assortment of free resources out there, from blog posts to online articles on sites like REI.com and others. I found mention of blog posts by Maletos, but no blogs. I did find several articles on www.Ezinearticles.com, all published on November 19 or October 29, 2010:
· Merchant Cash Advance Could Save Your Business
· Can Invoice Factoring Solve Your Business Cash Flow Problems?
· Today’s Foreclosures Will Prove to be the Bargains of a Lifetime
· With Foreclosures it is Easier than Ever to Find the Perfect Buy
· Foreclosure Listings Are the Best Source for Cheap Homes
· How to Buy a HUD Home
· Tips for Negotiating a Foreclosure Short Sale
· Build a Team for Real Estate Investing Success
· Flipping Properties Without Taking Ownership
· Today’s Real Estate Investors Will be Tomorrow’s Millionaires
So guys, that about sums up my extensive finding on Steve Maletos. All seems to be solid info and looks like he had a solid offering, but I just don’t see much activity out there in his territory right now.
Thanks again for stopping by.
Please browse around my other reviews!
Oh, and if ya skipped over the video earlier, go back and catch it. Three minutes. That’s it! They could be the three minutes that change your life, no kidding.