I purchased this Home Study Package and the CD’s sound like they are at a boot camp. Is this what his boot camp is like? If it is, I want to know if he later gets into the meat of the matter. These CDs are not in depth - and I am trying to find out if I should go to the Bootcamp of will this Home Study pkg will suffice.
I will tell you, it was very good. Even with the sellathon.
Worth the money, we are evaluating our first deals right now.
Emerican
Thank you. Going to his bootcamp and Scott’s in June.
Jagster,
I would not get too carried away with spending money on REI stuff. I think that you’ll find out that everything the gurus know is in their home study package or even their book. In fact, everything that the gurus know is on this website. The purpose of bootcamps is to get newbies to part with their money. Most of the gurus are experts at upselling, where they get newbies to continually spend money on the next level of training. The unspoken promise is that the “secret” to REI success will be unveiled at the next event (which always costs more than the current event). Unfortunately, the TRUTH is that THERE IS NO SECRET to success in REI or any other business. The TRUTH is that the vast majority of newbies in any business will fail. The TRUTH is that starting any business requires A LOT OF HARD WORK with many years of long, long days. The TRUTH is that REI is hard, frustrating, work that requires money and/or credit just like any other business.
I’ve heard almost all of the seminar speakers talk. They all provide good basic info and they all oversimplify things. None of them discuss the problems that occur in real life - like the daily routine of dealing with idiot tenants or the routine nightmare of dealing with contractors. They must have forgotten those little details.
Why don’t the gurus tell you this? The truth doesn’t make for a good sales pitch!!! It is hard to get newbies to pay thousands for the real truth. My advice is to save at least a little of your hard earned money to do some actual deals - the gurus already have plenty.
Mike
Excellent advice, Mike. I would simply add that the majority of education learned in REI is by doing. Unfortunately, most newbies to this industry fail to grasp that concept. As you said, there is no SECRET. If anything could be labeled “The SECRET to REI” it would probably be equivalent to Nike’s slogan: Just Do It!
I learned more in the 2-3 months of submitting offers, getting one accepted, doing light rehab, and putting it on the market than all the books, articles, webcasts, etc., combined x100.
One of the biggest secrets in REI is (now don’t tell anyone or sell this info):
USE YOUR COMMONSENSE!!!
Keith
Yes I agree with all you folks and by the way thanks for the responses. I have been a residential realtor for 19 years, and my ex husband had 16 apartment building. He rarely had problems and I think that is because he is an attorney and has his own management company, so no one wants to mess with him. I’ve only seen him has two problems and that was small. When we split up I purchased a house in Phoenix and just by my great luck got the WORST tenant of all and I feel for all his lies, I had too much compassion and of course I got pulled under - that lesson cost me $9800 with damages, legal fees, delays because he had a pit bull, etc, etc.
I’ve been dabbling in apartment buildings, but I recently went to their teaser introduction (1.5 hours), and it really peaked my interest that that you can buy with government funding, and even get rehab fees and then turn a bldg into Section 8 and elevate the cash flow and now sell it with you making a ton due to forced appreciation. I never thought of that. My husband did the same with out section8 and in A- areas.
The other thing I thought was interesting was just some little tips that you would not get unless you had gone through that bad experience, or maybe even some good shortcuts, or things you never thought about. Just like my tenant - I will never rent to someone who gets paid under the table again, or leave his wife off the application (she has a real job). Now every single person in the unit has to fill out an app and pass a background and credit check - all of them!
I do agree the gurus always try to sell you the next level, or leave you hanging on for more info so you have to buy into all the various programs.