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Is Undercover Billionaire Fake? Featuring Glenn Stearns
Is Undercover Billionaire Fake? Featuring Glenn Stearns
I actually watched the show trying to give it a fair shot. The following post is only some of the unrealistic events portrayed in the show:
The $1500 tire BS, OOOHHH, I will just drive around find 3 tires, call a guy I dont know and never meet, and he will be happy to meet me on someone elses private property and pay me $1500 for some stolen tires. Yea buddy, thats not real life. Thats just the beginning of the stupidity parade.
He is driving around a truck that gets 12 mpg and only puts $8 in gas one time in it?
He is able to purchase a 2005 Honda Civic for $700 and sell it a day later for $3,900? All he does is run it thru a car wash and vacuum it. That doesnt happen.
Glenn goes bar hopping with his staff and it shows his truck at his apartment the next day.. Did he drive home after drinking?
Then on to a Realtor who gives him an apartment lease with NO background check , NO credit check, NO rental history check, NO proof of stable income, NO assets (not even furniture), from someone already asking about stiffing them on the security deposit! BULL! WOULD NOT HAPPEN in the real world!
You put with a certain amount of Fake in any reality show, and thats somewhat understandable due to the fact that cameras dont follow people around on the regular. This show is on a whole new level and must assume that the average viewer watching this show has an IQ below 20. The whole show is BS. Watching the Jetsons is more believable than this TV show junk.
Agree it is unrealistic. Some of this is due to editing and some because of timing. The tire thing was ridiculous and I could not understand why he would keep the monster truck instead of selling it and keeping the Honda or buying a bike (Erie is not that big). The fact that he has a camera crew following him around changes everything from the way real people would react to him to the reception he gets from the business development council to the rental agent. Obviously this show is more of a How to than a documentary. It is a promotion for Erie PA and the businesses that they are highlighting.
All that said, once you filter out the obvious made for TV BS, I think there are some good lessons to be taken away that provide a road map on the resources, effort, attitude and approaches needed for starting a successful business with little or nothing.
What gets me is that hes selling it like anyone can do this, except if everyone did this then everyone would fail except a select few. This is how we got where we are now. Because we ARE all trying to do this.
Like the guy who sells the car for $700. That guy got screwed if the value was $3900. He just lost on that deal. If he was selling it for $3900, then the billionaire would have been screwed.
This whole show is bullshit from top to bottom, and hes trying to sell the concept as genuine.
I live in Erie. Theres an entire FB group of locals dedicated to exposing the lies. They have found that the building for Underdog BBQ is rented by a company in Cali. No one here owns that building. Theres a lot more, but I only see it when a family member shows me. I dont have FB.
Thanks for sharing that info, maybe I can find it. My whole problem with the show, is that he is trying to sell this idea that someone with $100 can have a $1 million business in 90 days. He lying over and over again and its sickening. He creating this false hope, a get rich quick scheme.
Okay, I watched the first two episodes and I would have to say that while it might seem a bit unlikely, its possible that it is legit… at least some parts of it.
Im not sure about the gas thing because I wasnt closely monitoring the running total of the money so I dont know if he gassed up again and it didnt make it into the show.
As for the car, I can see that happening. Hes buying it from a company that is getting out of the car business. Normally they would send trade-ins to the auction, get wholesale prices and pay auction fees on top of that. Also, they probably didnt pay much for the car if it was a trade-in. Hybrids are very popular, and Hondas typically have great resale value. The price Glenn sold it for is in the Kelley Blue Book fair market range. So… maybe.
The apartment might also be feasible. Im thinking that a $435/month apartment is not going to attract people like Jeff Bezos. Its usually going to be people who may have fairly weak credit. Glenn doesnt look like the kind of guy who would trash a place, and no property manager ever asks Hey, wheres all your stuff?. Hes putting two months rent cash up front, maybe thats all they need if the apartment has been vacant for a while. Also, having a camera crew hovering around you probably makes you look a bit more stable, I would think.
I dont think they went bar hopping. Looked like they only went to 2 places, and maybe he drank a few beers over the course of who knows how many hours. I certainly wouldnt say he looked impaired at all.
Where it gets a little sketchy for me was when he was interviewing people for jobs at a craft brewery that doesnt exist. Well see how that plays out. Did he pay these people for their time at the planning session? Was that deducted from his total? Did he at least buy the beers? By the way, the girl with the lip ring really nailed that interview. Didnt see her at the bar hopping, so I dont think she made the cut.
He definitely operates outside of the law. For example, if you buy and sell even one car with the intent of making a profit, you need a dealers license — which is a giant pain in the ass and takes months to get. For those who say that their state lets individuals sell X cars per year, that doesnt matter. If youre doing it for profit, you technically need a dealers license. And Im pretty sure he didnt get a permit to go out selling his St. Patricks Day stuff.
Okay, I know youre going to say Im an idiot and easily duped. Im not claiming that the show is 100% legitimate. Im just saying that some of the things Ive seen could possibly happen. Cash, social engineering, and hustle do go a long way. I cant think of better motivation than to avoid looking like a total ass on TV because I didnt meet my objectives. At least they didnt have him raking it in right away (the dog ball thing was a waste of time)… but maybe thats all part of their ploy to get us to believe that some of his schemes actually DID work. Hmm…
You dont buy a car $700 and sell them it $3,900. You dont buy a car for $1500 and sell it for $7,600. Yes, people do sell cars for living and make money do that, BUT not at those markups. If you owned a car worth $7,600 would you sell it for $1,500? No. The whole situation is unrealistic. I guess, what I dont appreciate is that it gives people false hope in a get rich quick scheme kind of way.
Not to mention buying a house and receiving a 40k loan with an assumed name. Please tell me how to accomplish that without going to jail.
My friend was commenting to his dad, man those people arent too smart to be selling at such a low price (I think he was trying to be polite to his father, who will believe anything in these shows) and he replied, nah, boy. Hes liquidating for his daddy. Theyre goin outta bidness. Im rolling my eyes trying to block out the sheer stupidity of the show. Reality TV in general.
No home. No credit. No health insurance. No phone. An alias. $100. People who work for free. Cars that apparently dont need gas. Yeah, right.
I died when I saw that, then flipped it for about 7800. Total joke. That ER visit would have set him $600 bucks alone. Im wondering whos paying the premium insurance with a $250 co-pay.
Ok started watching ……. laughed at the 700 dollar hybrid civic with the drivers door caved in then they totally insulted all of our intelligence with the purchase of the Escalade for 1500 dollars…. I immediately shut the show off… come on Discovery channel are you serious…. wow
Its TV, of course its not 100% real. I work in the mortgage industry and know this guy and his reputation. Hes legit. GREAT guy who was living on the streets and created one of the largest mortgage banks around. Anyone who I know thats works for him loves the guy. Sure, his mortgage companyStearns filed for bankruptcyearlier this year, for those who know Glenn and his team, its a temporary setback.
A reputable guy, thats okay with fabricating all the facts of his tv show in order to not fail. A reputable guy would admit that he failed or is blatantly lying to viewers.
What? I dont appreciate a show thats portrays itself as realistic and legit when in reality its nothing more than a house of cards. Obviously you havent watched the show.