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? [nggallery id=2]


[nggallery id=4] 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 http://www.prweb.com/releases/2010/02/prweb3614034.htm


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

SVN VS Karen Hanover - Cease and Desist

Karen Hanover Exposed – Official