Real estate investor education products and sales processes are one of the most unregulated, and misleading categories of offerings that circle the internet. As an active real estate investor, I find these products and offerings comical at times. Then, I see would be real estate investors lose $5,000 to $50,000 in over promised educational products that produce very little (to no) results. Here are some of the most used ridiculous methods. I recommend you read this article as well.
The free seminar model is one that has been perfected by some of the greatest marketers out there. Most of these “real estate investors” are nothing more than marketing majors that found a niche product to make a fortune off of. So, here is how it works:
- Spend $50,000 – $100,000 promoting a special, free seminar (or series of seminars) in “YOUR LOCAL AREA” offering to help you break the chains of your J>O>B!
- At the free event, offer you an opportunity to attend an advanced weekend course, typically a three to four days, in YOUR AREA for $500 – $1,000.
- At the “advanced training” you will be taught concepts, not content. At the end of this event, You will get one of two offers:
- You have been “Selected” to participate in our mentor program. That typically ranges $15,000 – $50,000.
- You should attend our strategy specific (wholesaling, rehabbing, land-lording, etc.) week-long boot camp. These are typically $2,000 – $5,000.
- It is important to note that after completion of the “boot camp” you will be told you really still need the $15,000 – $50,000 coaching to be successful.
All in all, you will end up paying the “Celebrity” tens of thousands of dollars, and never buy a house. Too many people end up this way. We estimate more than 95% of the would be investors that pay these fees never buy a house. In fact, most of them go into debt, to buy the product, that is “presented” as a way to get out of debt.
FREE “LIVE” WEBINAR
Many real estate investor “gurus” have fancy webpages that let you select a time for one of their “Live” webinar presentations. These “Evergreen” webinars are an entire product industry. There are services that are specifically designed to help these online “pitchmen” deceive the public. I, regrettably, have even tried it. The literature they send you tells you about calling it live, when it is pre-recorded. It just never sat well with me. So, if you are clicking a drop down button allowing you to select your date, then select a time, just know you will be watching a recorded sales pitch. At the end, there will be a “call to action”. This is after they have scared you and made you feel desperate for their solution. Typically, the solution is some secret formula, or technique.
Look, I make a living helping other investors. If you want to get started investing, I would do one of these three things:
- If you have plenty of time to wait, and are a self-starter, just join BiggerPockets, and start searching. There are more free resources there that you can imagine.
- Go to YouTube, and search Tim Herriage. You will hours and hours of training videos I have posted, free.
- If you are ready to start fast, and have money and credit, look into joining my team of franchisees at HomeVestors. We have bought more than 55,000 houses in the past 16 years, and that doesn’t even count the 4,000 we will buy this year. Click here for more information.
This business is hard work, with a great potential payoff. It is not a magic circus.
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Brandon Turner says
Hey Tim, thanks so much for the shout out to BiggerPockets! We really strive hard to fight back against this circus and show that the best education is through your peers. Thanks so much!
Thanks Brandon. Keep up the good work.