My phone is ringing off the hook with people who’ve waded through worthless “wholesale,” and “mortgage assignment” courses that provided the most unworkable, impractical/dangerous instructions ever, and then find me, and want free help when things aren’t working as planned.
I can’t tell them they’ve wasted their money on “mortgage assignment” courses and “wholesale” training that teach them effectively how to spin their wheels, lose money, and get sued.
Meantime, I’m hearing some “needy tales of woe” from those who are genuinely ambitious to do something and have sacrificed already to learn how to get into some aspect of this business…
It’s impossible for me to take someone from scratch and get them up to speed with the time I’ve got left working with my paid course holders and also maintain my primary business responsibilities. For that reason alone I’ve turned down a dozen requests for mentoring since the middle of January.
Why can’t you tell them they wasted their money???
Real Estate investing is all about THE REAL WORLD…REALITY…REAL MONEY…Pay too much for a property and you’ll see some REAL PAIN, REAL QUICK!! Pay stupid money for a worthless GURU CLASS??? Lesson learned.
It’s a PROCESS…You go out and make mistakes when you get started…The people that go onto be successful LEARN from those mistakes, take that TUITION they just paid for, and USE that to make BETTER decisions. By NOT telling them they screwed up you are just BULLSH*TTING these people.
Hit 'em right between the eyes with it and WATCH…Their REACTION will tell you WHO is worth your time and who ISN’T.
I do this constantly in business…I let people who SAY they want to learn about investing SHOW ME how bad they want it…I don’t hold their hand…I give them some utterly boring task like saving $30,000 BEFORE they buy anything…then I sit back and watch. The STROKERS move onto something “easier”… others just give up, and I’m left with people with POTENTIAL.
I don’t “teach” or charge for advice…This way I can decide who I help and who I don’t waste my time with.
I could tell someone who calls me for help that they’ve wasted their money, but what’s the point? If they did, they either know it already, and they feel like suckers, or they don’t know it, and now I look like I’m raining on their parade. Either way, I lose making those observations.
I like your idea of putting them through hoops, to separate the sheep from the goats. However, suggesting they “save 30k” doesn’t seem like a way to actually separate the chaff. That would just mean we want to work with those who are already making money elsewhere. I mean how long would it take the average person to save $30,000 after taxes the conventional way? Not too many come looking for answers when they’re already pulling down $!50k/yr? It’s the ones who are making $35,000/yr who want to get to $150 by investing in RE.
I like your idea, except that it eliminates pretty much everybody. I’m thinking that I will have the newbie go “find $30,000” in OPM, and then call me back. Now, that would demonstrate some chutzpah (especially for a newbie). And then, with that money available, we could get cracking on “something.”
Seems simple to me. Tell them that you charge to teach but if they need free advice they can come to REI Club and read all the notes, past and present, and learn everything they need to know.
If they can’t make the effort to read and ask questions, they really genuinely aren’t going to make it.
I’ve met plenty pf people who say “teach me how” when what they mean is “do it for me.” I can’t tell you how many times I’ve told an eager newbie where there is a good deal to be picked up and later learned that they didn’t even go out and look at it. There is nothing that can be done to help people like that.
I think the “do it for me” attitude is really a great insight.
I’ve found that it takes money coupled with action to get results. It either costs money learning the hard way after putting work into it, or it takes money learning the easy way and putting THAT to work. Either way, money and action are both required to produce results.
I remember soaking in every syllable of Barney Zick, after paying a pretty penny (which I wouldn’t ever dream of wanting back), but only really making money after putting what I learned to work.
A professional investor reminded me a few days ago, that it’s important to come across as harmless as a “dolphin” when dealing with residential sellers. This reduces the resistance to our offers. Another thing I was reminded of a few days ago, is that humor also reduces seller resistance to both us and our offers. FWIW
I see this is an older thread. However, I am seeking information. I am thinking about the “guru course” for the newly revised program (MAPS) now called (AMPS). In researching, as this sounds like it might be a good fit for me, I found this thread. I would like to ask for answers to the following questions.
Is this course worth the price of admission if I am willing to do the work?
Are there less costly avenues to learn this material?