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Karen Hanover Commercial Short Sale Course Scam – YOU GOT SUCKERED

I hate to say it, but I told you so.
This below email just came in from one of my students who did some further investigations:

His Complete Email to Me..

Hi Duncan,

I saw on your blog that you were not supporting Karen Hanover’s launch and the overall lack of due diligence. Ha. A couple of months ago I did some due diligence on her  after hearing her speak at a conference here in San Diego in January. Your intuition was dead-on.

The “associations”  Karen Hanover  touts as being a member of CCREA NAIA (and the self storage one SSEI?) are all her own creation.  In February she had the balls to create a press release to tout how the CCREA had awarded her real estate course its #1 ranking! I love tenacity and perseverance, but fraud is disgusting and seeing how there are so many dubious characters in this business, it just bugs me.

Anyway I sent an email to Sperry Van Ness’s Human Resources department and got back the enclosed email. According to SVN she has never worked there and their attorneys are looking into it. ))) I have not called Marcus & Millichap.

Your points on the blog are so well taken. Everybody signs up and does the birddog routine but the gurus can’t or don’t want to do all the deals and thus cherry-pick the list. Rick Wheat who with Jeff Kaller are doing their scandalous bird dog system told me back in 2005 when he was Ron Legrand’s acquisition head that in that year they looked at over 1100 deals submission and actually closed on 14. So you would have to submit 80 deals of average quality before expecting to do one. I don’t think the normal man on the street has put this math together, but you did in your blog and I thank you for getting the word out to the masses.


Next time you get emails about a new course from a Real Estate Guru, do some digging first. Don’t believe everything you hear. YOU BEEN HAD! I hope you can get your money back. Good Luck

Update 13 June 2010:

Seems I upset the apple cart! IF I have stated any incorrect information I will publicly state I was wrong on my blog and apologize here. At this time, I have not received any evidence to the contrary. I am now being threatened by a lawsuit because I provide a medium for people to feedback about the course. The site remains open for rebuttal and other points of view.

I received the following text messages from Karen Hanover asking me to remove the post. What an un-American thing to do! What happened to freedom of speech?

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Notice now Karen Hanover  is trying to turn this around ?   She is implying that she is going to file a complaint against me for  ”Annoying Text Messages”   to her,  when in fact  I was only responding to her UNAUTHORIZED TEXT to me .  I never gave her my number.  She quotes CA Penal Code which I should now  to use to file a complaint against her!

How childish is this woman?  Is this who you want to do business with ?   I might also throw in for good measure….

She stated to everyone in her LAUNCH WEBINAR, and again to everyone who bought her course that she would partner with you and FUND YOUR DEALS.  Then when it came time to ask for funding  (by one of my students), she said  NO, you have to QUALIFY !  That is NOT partnering !  That is called a LOAN.  One more LIE from her …….

Did a background check from public sources of information – Not one commercial deal shows up, BUT 7 foreclosures, and a bunch of tax liens against her…

DOWNLOAD Pages from Karen Hannover Public Knowledge Background Check

To think that she sold 2.2 Million dollars of coaching at her event,  and she doesn’t have one of her own success stories.. ??? WT ?

Check out my other post about how she put the scam together, AND now she is bragging about going on vacation directly after her bootcamp, leaving her new students to fend for them selves….

Read about the Karen Hanover Commercial Goldrush Coaching Scam Reviewed


In case you are interested to know.

To be a CCIM candidate,  it doesn’t take anything but a smallish check (about $500, for the intro 100 course) to start the CCIM program and become a “candidate”.  To get the CCIM pin is a different animal entirely. You have to pass the five week long courses, pass the comprehensive five hour exam (given twice a year), document your deal history – $10M generally, and produce a portfolio documenting your deals with canceled checks to verify payment (it’s THAT sticky). I have colleagues who have notarized letters from  previous employers documenting their  experience, inspection deal volume and income with pay stubs/copies of checks. They had to dredge up dozens of canceled check  images from their business. They stated becoming a CCIM was very intense.

Why would people trust 30K in coaching to someone who does not have real qualifications or even pass the industry standard test is beyond me.

Here is a link to Karen Bogus Press Release about her qualification, and also a slide in her powerpoint how she is representing herself fraudulently.

Karen Hannover  Bogus Award Announcement on PRWeb

What a joke! – Click on the image to see it LARGE

UPDATED 10-11-10 – click on image to see full size

SVN VS Karen Hanover - Cease and Desist

Karen Hanover Exposed - Official


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1,294 Responses to “Karen Hanover Commercial Short Sale Course Scam – YOU GOT SUCKERED”

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  1. 1121
    Debbie ciampi Says:

    Thank You GOD…………..
    Duncan found his KAHUNNA’s……again

  2. 1122
    Rebecca Says:

    BIG KAHOONA’S Well Debbie, you got that right! But I don’t know about thanking God for that because it is a discrase! It is definant that I was blocked from posting! What is the personal attack for Duncan? Just because I take back such harsh words like coehuresed to being asked?? What is the difference? Why would someone call me and tell me their heart went out to me and then after 2 free mentoring sessions with someone that approached me be asking for testimonials to begin with? 2 weeks??? And not to give testimonials to just anyone!! But being asked to send testimonials to all of Karen Hanovers victims? What is that truly all about? I’ll tell you. I guess Duncan wierman wants to pursue commercial realestate now and is preying upon Karen Hanovers victims. Duncan why did you put up this blog to begin with again? OOH that’s right, to gain trust from people that have been victimized out of thousands of dollars and then pull them in for your own personal financial gain WoW!! I think it’s time you are exposed as well Duncan! You don’t have to worry about blocking me any more because this is the last posting on your blog ( Shark Tank!!)

  3. 1123
    Rebecca Says:

    I am sure you won’t leave that posting up either. But sure hope the FBI gets to see it before you hide it. or let Karen Hanover expose you too. Whats good for the goose is good for the gander. Duncan Wierman and Karen Hanover Exposed right here!! Pathetic!!

  4. 1124
    Duncan Wierman Says:

    @ Rebecca – You are NOT blocked. As I stated prior, that your issue is probably to do with your browser cookies.

    Rebecca, by attacking me because you have been mentally worn out by Karen, is certainly not the best thing you are doing to help your case. You are looking like a hater, who will attack anyone.

    Rebecca, you choice of language was a poor choice. ( you even admitted that) You were not coerced into giving any testimonial. Charles ASKED you to do this if you found his coaching help positive. I have seen your emails to him where you RAVE about the fact that you have learned more in the short time with him then in the entire time with Karen. You had even made an offer to pay him for this, BUT he turned it down!!

    @ Rebecca – For the record – I DO NOT TEACH COMMERCIAL. I am only trying to help those who were screwed by Karen Hanover to get refunded, or put them in touch with someone who CAN help them.

    What do I have to hide? Rebecca – take a breath and THINK! Karen Hanover is LOVING this .. You fell right into her trap!

    @ ALL – Rebecca has over 50 post on this blog REPEATING how she has been defrauded. IF I was to block her, why would I not block her after 5 or 10 post, there is NO sense in blocking her. HOWEVER, this is a living, breathing, blog, and if Rebecca wants to start attacking me on my own blog.. then I will reserve the right to have my editorial rights to SPAM her post !

    @ Karen Hanover – Dont worry , they are still there – I am sure you know that since you remove / hide post on your blog .

  5. 1125
    Duncan Wierman Says:

    This is an interesting news story that show that TV programs are picking up with internet scams and product launches.

    So whoever got ripped off with Karen call your local tv station and get them “on your side”

  6. 1126
    Duncan Wierman Says:

    Karen Hanover Facebook posts have got to be the funniest yet most disturbing things I read at the same time.

    Poor Claude West.. He is so desperate to believe in Karen he hangs on to her every word.

    Karen’s business model ?? What is that? … preying on naive investors!

    Whats holding Karen back from pulling the trigger? She claimed she was closing on Willow Lakes 2 weeks ago…Now what ?

    No one is going to buy this C class property after reviewing the financial docs. I also have a copy of the appraisal too..

    Anyone who knows anything about apartment investing would stay away from it. Does it not strike you odd why the owners who purchased it and are in such a hurry to get out of it??? Anyone who gets involved in that project is going to lose money very quickly.

    I am looking forward to seeing her actually close on Willow Lakes… It’s funny she is not going to be involved herself in the deal. HUH?.. Nice of her to set her Fasttrackers up for failure!

  7. 1127
    Duncan Wierman Says:

    I had to laugh when I saw TWO bumper stickers today..

    “Life is too short to own C property.”

    Why : The real reason why you use Loopnet is to find the brokers in the market that you are looking at that do deals like the one that you are looking to buy. “Deals” are not on Loopnet. Anyone in the know, knows that deals are not found on a website that has hundreds of thousands of subscribers.

    “Loopnet is where deals go to die”.

    Why: If you have never owned property before, and you start with a C property, you will not be long for this business. The greatest source of landlord burn out is C property. Life is too short to deal with all the issues that come with it for an inexperienced investor. If you think putting another property management company is going to fix it , you are badly mistaken.

  8. 1128
    Robert Kim Says:

    If Karen Hanover did NOT close on the Willow Lakes apartment complex in Jacksonville, that is probably the best thing for her “Fastrackers” that could result from that deal. Karen’s proven track record of failure for even residential houses is a pretty good indication of her inability to manage a commercial asset with lots of deferred maintenance issues like Willow Lakes.

    I can’t believe that people still trust her in spite of all the proof of her fraud and dishonesty that has come out. As a reminder. especially for those brain-washed “Fastrackers” who finally come to their senses and realize that Karen has ripped them off, a summary on how to report her fraud to appropriate agencies is at:

  9. 1129
    Debbie Ciampi Says:

    Hi Guru Ciampi here again………….lol.

    I have been buying true foreclosures at the Palm Beach Courthouse for the past 15 years….I do not invest anyones money just my own and maybe put a family member or friend in a deal every now and then.Seldom does a Commercial Property sell at the foreclosure sale in Palm Beach County.(mostly residential). If it does it will be gobbled up by an investor at the right price in a bidding war………You pay CASH in 24 hours….But guess what fasttrackers……Karen hanover has figured a way for you all to buy Commercial FORECLOSURE Property for NO MONEY DOWN.. …
    She herself owns none of these properties but she will put you in a Willow Snakes.(because she has to present something)….Curious how much profit you have made instructing these fasttracker or just by yourself on your incredible teachings of commercial real estate this year.Is there one person who can come foward to prove that you are not everything everyone is saying here on this site.
    THE FACTS ARE THE FACTS AND no blog monitoring, or list of bloggers or attorney’s can change your facts….Do you really beleive in the eyes of your soul you gave these nice innocent, people $20,000 to $30,000 THOUSAND DOLLARS worth of coaching.(you have instructed the help not to respond to complaints) … rediculous of you. This is a blog….Are you going to sue everyone that blogs the truth……?

  10. 1130
    Duncan Wierman Says:

    CCIM prohibits the use of the term “CCIM candidate” for advertising purposes.

    Guidelines for Using Institute Candidacy
    No mention of candidacy status may be made on business stationary, in advertising, websites, brochures, contracts, documents, promotional materials, or any other publications. A candidate may not refer to themselves as a “CCIM candidate” or by any other means imply it.

    The CCIM has served Karen with a cease and desist notice!

  11. 1131
    Duncan Wierman Says:

    KH has balls… BUT …. Look for a Federal Marshall and the FBI to be in attendance at this bootcamp. )))

    Karen Hanover Email Sent this morning …
    (she cant spell “holiday” )

    Sent: Friday, December 10, 2010 8:19 AM
    Subject: A Hoilday Gift From Karen Hanover


    Sign up today for the 4 day, Distressed Commercial Real Estate Academy and learn from an industry insider, not a guru.

    For everybody that signs up before December 31, 2010 will receive one of two gifts from Karen: A 2 for 1 FREE Cruise Certificate or Free Vacation Certificate to your choice of 22 destinations. Click here for details.


    Wow.. Pay $1,997.00 and you can bring a guest free….

    BUT did you read her terms and conditions ..

    Fastrackers, this is another opportunity to stage a protest ! Get your permit.
    Get Channel 7 to cover the event, and confront her !!

  12. 1132
    Duncan Wierman Says:

    I forget to mention in my above post ..

    -she is probably using PAYPAL now because her merchant account is frozen!!
    -she is offering MONEY she does not have
    -she is saying they can buy a property at the event with no money down!!

    She has provided no proof she has closed on ANY deals with her fast trackers (or her own) What’s up with Willow Lakes.. that was supposed to close 2 weeks ago???

  13. 1133
    Stop Fraud Says:

    Check out the link Duncan provided for Karen’s next event in Nevada..'t it be 2011?

    How can a contract be valid with the wrong year.

    In the terms she writes May 20th -23rd 2010.

    I think she writes her own contracts without any legal counsel review.

    There will be protesters at this event.
    Too many people have been defrauded out of thousands of dollars.

  14. 1134
    Duncan Wierman Says:

    I have just updated my blog about the latest property presentations KH die along with an eye opening financial analysis

    Check it out now:

    Stay tuned, as I am going to reveal some absolutely shocking, unbelievable information about Karen Hanover.. It is beyond belief… I am just waiting for legal review and confirmation.. I hope that I can do it on Monday. This should prove without a doubt that Karen has been cheating people for a very long time!

  15. 1135
    Debbie Ciampi Says:

    Can someone please sign up for my new Holday Academy.I will also throw in 3 fruitcakes so the friend you bring can give one to a friend. This week I would like to refer to myself as an industry insider……..Just make sure you click on my attendance agreement and read the confidentiality section…. oh yes and no camera’s…….please …….

  16. 1136
    Duncan Wierman Says:

    Breaking News….

    Sean Carpenter confirmed it. Quote ” issued cease and desist to stop using my name” . Said he spent time on Jacksonville deal and Karen found another lender.

    Sean … consider yourself lucky you broke away now, before the FBI came knocking! …

  17. 1137
    Duncan Wierman Says:

    Who is Karen Hanover really..???

    Multiple Aliases .. Why Karen…?

    Seems there are some other lawsuits against you. Your cover is about to be blown away..

    I think the last fastrackers who you still have on your hook with your deceptive should be asking you…


  18. 1138
    Duncan Wierman Says:

    Seems Karen is trying to make herself look good still by knocking Charles Dobsen and Jillian Sidoti..

    Karen is an idiot..

    It’s public knowledge now that there were NO investors defrauded.

    Notice how now she now calls his actions “alleged”. She didn’t say that before on her Facebook post. Her lawyer must have gotten to her.

  19. 1139
    Duncan Wierman Says:

    Everyone needs to check out my latest wordpress blog about KH! .. Yiks..

    Karen was trying to negotiate with Rebecca to make her go away!

    Karen assumed that I did not support Rebecca due to a small misunderstanding of my endorsement of Charles Dobsen. Well that SEC case was wrapped up, and nothing came of it.
    Karen made a play to manipulate Rebecca not to pass any information over to the FBI! She used the tactic of Rebecca has no support, no friends, and basically trying to bully her!

    I guess Karen has not learned.. let your attorney do the talking!

  20. 1140
    Debbie Ciampi Says:

    Like you said Duncan…………..

    What alias are you speaking of ?
    What has she been doing for work for the past 20 years ?

    Industry Insider
    Cookie Dough
    Domain Names ????????????????


    When you claim to be all she does people want to know…………Who are you really ?

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