Will someone please ban this jerk.
Will someone please ban this jerk.
You know Kdhastedt pretty well, huh? :cool
Not me…I’m a kitten!
Keith
Great post, very informative. I have taken some weekend bootcamps and seminars. All of them had good information, some seemed a bit like a dog and pony shows with a parade of other Gurus trying to sell you their bootcamp. Many gurus are not active investors, they are speakers. I recommend talking to people who have taken the bootcamp/seminar and also make sure they are true active investors. They say that less than 4% of seminar attendees actually apply the material afterwords, that means 24 out of 25 people at the seminar pay all that money to understand theory and never make the choice to implement any of their new knowledge. That surprised me, I guess they expected to be handed money without doing anything.
Ryan,
You make a very good point. I think that is what happens whenever “the next big thing” comes along. People think they are going to take a seminar and then money just magically starts appearing in their bank accounts. I’m sure you all have noticed the “I make $1283 a day at home working on the internet” ads that that are popping up everywhere now. The “gurus” are not preaching real estate anymore they are now preaching google adwords and how that can make you millions. I took an online course in SEO and adwords just to see if it would help me capture more leads for my mortgage business and I can tell you that it is not easy. It takes a lot of time and effort because it is all about testing the right word combinations as well as investing money in software and then you have to pay google to post your ads where people will actually click on them.
A few years ago during the real estate boom a good friend of mine decided that he was going to be a mortgage broker. So he went and got a job, invested in all of the mortgage gurus material, the scripts, the calculators, the market predictors, went to seminars, etc… and you know what happened?? He quit after 3 months because his phone did not just magically start ringing when he came to work. It never occured to him that he would have to go out and pound the pavement or dial for dollars.
I took a Robert Allen seminar and found it very informative and it really took me to the next level in comfort and confidence. For me it was a no brainer. Both of my degrees are in business, I read business and sales books all the time and real estate just makes sense. Plus I already did 2 deals. I recall the gentleman next to me whose goal was to do a deal in the next 2 years. I asked him why not do 4 in the next year, he about freaked out just thinking about that. I think some people just aren’t built for real estate and it comes down to comfort. I was nervous the last few days before closing on property. In this case the gentleman was a dealer at a casino and had next to zero business knowledge. I imagine he has not done a single deal, but his hope was probably that he would become rich without much effort. This brings me to my next point, these Gurus are so good at getting you excited and emotional that you would do anything to gain that knowledge. Unfortunately for most, it is an emotional decision when decisions such as this should be informed business decisions. Most people want to work less, not their fulltime job and 20 hours a week on real estate.
1 more thing I want to add, many Gurus charge you thousands of dollars for their course and the ability to partner. So essentially you pay Gurus thousands to bring them deals. In some instances that is exactly what the students need, but it should be the Gurus paying students to bring them deals. I always wondered what would happen if a Guru thought their system for FREE, then paid students everytime they closed on a deal and closed on a deal. I imagine the Guru would have 1000 students per course vs 100.