Something some of the self-professed experts are now doing is getting 15-20 students together and charging them 25K for a years apprentice program. For 25K you get to bring them your deals fora year and supposedly learn about foreclsoures, etc… I tried this and the couple did very little educating other than insist we bring them more and more deals that they could not mitigate. Ultimately, they wound up with many unsatisfed students and moved to Orlando where I understand they are now charging students $25,000 a year for the same “education” they gave us. The only education most of us received was that most of the people making money in foreclosures, etc, are the ones who are teaching people how to make money in it. If someone wants you to pay them 25K for the privledge of bringing them your deals to split with them at 50-50 you’re stupid. Tell them if they believe in what they’re doing to take their money out of your first and second deals.
Just wanted the new investors to beware that there are a lot of people out there trying to “sell” you an education, which in many instances, is a lot of fluff.
Robert Allen program count as one or no?
He teaches this in Canada, but most of the rules, as I am finding out applies to the U.S, such as pre-foreclosures, and buying foreclosures at a discount. Since in Canada, it is the law for the banks to sell the home back on the market, at full market value. If you negotiate with them, you may get 10, if your lucky 20k off of purchase price of a 350k house.
Does his methods work in the states?
Much of what Allen teaches is very, very general and not a bad overview on real estate, but at way, way, way inflated prices.
I’m just of the mind at the moment that many of the people making money in real estate (and I know a LOT of investors) are making part time money…the big bucks seem to be in telling others how THEY can get rich, if only you’ll purchase my course or program.
Bottom line…don’t pay someone 25K up front for the “privledge” of having them take half your deal. The person I know doing it in the Orlando area wasn’t successful before and won’t be now at least not in real estate. They are very good at selling courses.
Well I didnt spend that kind of money, I was keen on getting into real estate, however I did not want to be a broker. Im 21, so I heard of his course in Toronto, it was 2500, the full mentor program blah blah blach was another 10k, which I ofcourse did not take. The 2500 introduced me into how real estate investors work, and the process of buying, fixing and flipping, or doing assignments and such.
From what was taught, the big money seem to be made in foreclosures and pre-foreclosures, where you can buy a home at a great discount, even foreclosures, you can get the banks to accept a lower offer than what is owed on the mortgage. But this is only the case for the States, in Canada, there is no such thing as Investors getting into contact legally with pre-foreclosures, and Foreclosed homes go to power of sale by the banks, and are sold back at full market value, regardless of the amount of equity invested in the home.
The newest aprentice program is the noveau riche program being discussed on a different forum. for $16,000 we will teach you everything you need to know??? stay clear
I am putting one together now! It will work for everyone. It will be everything you need to know about short sales. I am charging way less then everyone else…I am not sells pitching you about it…but letting you know you can trust some people, there is people out there selling something that will benefit you with no strings attached etc… if you want my system , it will be done in about 2-3 months…honest…you will get something that helps and teaches you everything down to the T. If you are looking else where…look into…
www.wealthcollege.com… check out MARK SUMPTER… I have never taken any class’ or seminars…but I would buy his if I was going to buy anyone’s