Hello all, I am new here and I am excited to have come across this web site. I look forward to expanding my knowledge of R.E. investing and feel like this site will be an invaluable resource.
I went to a three day seminar called “Teach Me Foreclosure” put on by The Wealth Intelligence Academy. $200 bucks, two working days of my time, and a Saturday later, I left feeling a bit cheated. I thought I was signing up for a three day intensive course on buying foreclosures. All I got was tidbits of info on all aspects of real estate investing and a Time Share like sales job to buy the “Advanced Training” from them throughout the three days. Price range from $10k up to $100K for three day workshop packages covering various aspects of investing. Each specialized area would be a three day course. I thought they were crazy to price them so high…. People actually signed up for them???
Got the old sales pitch, if you don’t sign up you are a looser and will continue to be one… Like they have a corner on the knowledge. I don’t think so. I told myself when I signed up, worse case scenario, it will jump start me to get out do some investing. So here I am ready to get rolling.
I am not familiar with this company, but I am very familiar with the tactics. Nearly every “guru” does the same thing. They get you in with a free seminar and then try to upsell you to an expensive course promising the “SECRET” will be revealed. Once you get to that seminar, you are told that the true “SECRET” will be revealed at the next and more expensive level of seminar, when you become a member of “the inner circle”. RIDICULOUS!!!
The truth is that real estate is a simple business. There is no “SECRET”. Learn the basics and work hard. That is the “SECRET” of success!
AMEN, propertymanager. Everyone thinks they have secrets to this business, but they’re just tips on how to do the basics. This site covers exactly what investors need to be successful.
My first year I went to their free seminar, than the 3 day seminar for $149 or whatever. Then I even paid for the Wealth Intelligence Academy mentor program. I received 10 mentoring phone calls for $3,000. I only did 5 or 6 sessions before I told my mentor to take a hike.
I learned nothing and paid thousands. There’s no way I could have known. I thought I was doing the right thing by getting a mentor and learning real estate.
If only I would have had this website my first year. Oh well.
A couple of things to remember is that all real estate is local. If the mentor does not live where you are he can’t mentor you. The techniques that are used in real estate are the same everywhere, but what makes money in Houston is not the same as what makes money in San Diego. You have to live there to know the difference. What I would do is find somebody where you are making money on real estate and do what they are doing. Don’t get fancy don’t try to reinvent the wheel or out smart their technique. Just do the same things they are doing. You can usually get that for free. After you have done a couple of deals you will find out the second thing is that real estate is not brain surgery. It is really easy as far as the amount of knowledge you need. If you can look at 2 numbers and determine which one is the bigger then you can do the brain work required for real estate (example is rental income of $900 bigger or smaller than rental expenses of $1000). The hard part is not the real estate the hard part is the people.
I heard of Wealth Intelligence Academy through a “Rich Dad Education” 3-Day seminar I went to. The Rich Dad Education group is associated with Robert Kyosaki. I originally went to a free one night seminar which was to get you to sign up for the $495.00 3-day semina.r which I did. Like mentioned above, when at the 3-day seminar, they wanted us to sign up for the advanced training, which came in different packages and went from a low of about $8,000 to a high of about $22,000. Unlike mentioned above, I have found that the 3 day seminar was EXTREMELY VALUABLE in and of itself and with the library of materials provided, was worth the $495.00. It was taught by a reperesentative who has been very successful in RE Investing and was presonally being trained or associated with Robert Kyosaki. It seems that the Rich Dad Education group has contracted with the Wealth Intelligence Academy to do their advanced training (all of the other employees at the 3 day seminar were actually employed by the Wealth Intellegence Academy. The Wealth Intellegence Academy (WIA) , I found out by accident that the WIA is also either owned by or contracted with the Russ Whitney group and also offered the same Advanced Training (Idential course names).
While at the 3 day seminar, I got the sense that the advanced training would be worth it to get specific education on the different RE Investing strategies presented in the 3-Day seminar (including the mentor that would come out to your market and spend thre days with you) but there was NO WAY that I was going to be able to afford it. And they did not have anyway that they financed it, so I didn’t sign up (we found it interesting that they touted the success of their students, but then wouldn’t take the risk to finance them!).
So I was completely dissapointed. I would have signed up. I was (and am) convinced that RE Investing is the way to go, but had no way to pay for the training. But after I got home, I realized that about 4 years ago or so, I purchased Carlton Sheets home study course and it was sitting up on the shelf in my closet. So I have taken it down and am now getting my education by going through this course - and I believe it is giving me much of the infomatrion I need to get started, as it is covering in more depth most of the strategies and topics covered at the 3-day Rich Dad seminar. I checked, and the Carlton Sheets home study course (offered at CarltonSheets.com) is still only about $279.00 so I think it is worth it to use to get started in teh RE Investing Business. My goal is to have my first deal done by the end of July. Also Carlton Sheets has a mentoring program that is less expensive, starting around $800 and goes up to about $5900 dollars I think. So Iwould recommend Carlton Sheets.
By the way, I have heard the Russ Whitney group does use the INSULTING and DISRESPECTFUL tactics of calling people LOSERS who don’t sign up. There was NONE of that in the Rich Dad Eductation presentation. We wer sales-pitched, but treated with respect by the presenter and I really felt it was his goal to present us with valuable information as well as sell us on teh advanced training.
I was being facetious when I said they called us losers. It was more to the effect of not having the guts to change your life if you do not sign up today. Which is a loaded statement in itself. I guess you could say it was done respectfully. Making more money is always a goal for several reasons, but, I wasn’t looking for motivational seminar…
I thought I was signing up for three days of solid education on the specific topic of buying foreclosures. That is what we lead to believe in the in the two hour seminar several weeks prior. I was deceived …and ended up paying them $200 to listen to their sales pitch. I’m not saying I didn’t get anything out of it, but not enough to put into action. Just tid bits in a flood of information overflow.
I personally think that anyone who would pay the ridiculously high prices that they are asking ($10k to as high as $100k) is either hoping for a miracle or has money to burn. Granted they may teach you something, the same thing you can learn from books, forums, etc. for less than $500, but they can’t teach you drive and the tenacity to get out and do it. That you have to find within yourself.