Let’s talk about these guru seminars.When we got started, they attracted us. That’s how we got into real estate investing. But a lot of them just lead you to these really high-ticket price courses, books and programs.
So, in this blog post we’re going to go into some of the myths and some of the things you want to look out for in these seminars. Because what we’re trying to do is protect you and protect your pocketbook, so that you don’t fall victim to all those different tricks that they have.
Lie #1 The big-name guest
They might say there’s a big name that’s going to be coming to the event but they’re never there. So why are they mentioning this big name?
We’ll just tell you about our experience.
So again, this is how we got into real estate investing. We had read the book ‘Rich dad, poor dad’, and we saw on Facebook that Robert Kiyosaki was going to be at this hotel. It was a free training, a free seminar we could go to. We were like ‘Heck yeah Robert Kiyosaki! We just read his book. We’ll be there!’
But when we got there, he was not there. It was someone else who was just there to open your mind to the idea of real estate investing. They had his picture on the wall…but just…yeah.
Know that whether it’s Robert Kiyosaki, or Daymond John the shark tank guy, or any of those guys, one hundred percent of the time they’re not going to throw a free seminar at your local hotel in your city.
Think about it. If it’s a $200 or $300 ticket item, you’re probably not going to get close to a guy like Robert Kiyosaki, or Daymond John, or any of the other gurus out there.
It’s just clickbait guys. They want to get as many people as they can in that room. And what they’re going to do is pitch the biggest name. So pay attention to that.
Lie #2 The upsell tricks
Again, this is where you’ll see a free training on a Facebook ad. You go there and there’s a guy who introduces you to the idea of investing in real estate or whatever you’re going for. And they sell you on what’s usually like somewhere between a couple hundred dollar to maybe a thousand dollar weekend course.
So that’s how they upsell. They’re getting people in the room to weed them out and find who’s going to pay at least a few hundred dollars to go to this weekend seminar. They say they’re going to teach you everything you need to know, but no way you can get to know everything in a weekend.
They want to get you in at $300 and give you some very basic level information to get you guys really excited. But that’s really just to upsell you on that $20,000, $30,000 or $40,000 product. And then from there they’ve got even more products that they’re going to want you to buy.
So be aware of that guys. Protect your time, protect your pocket. It’s usually good information, but just know that if you’re paying $300 to get in the door that’s just the get-in-the-door price.
We’re always big advocates of investing in yourself, but know what you’re getting. A lot of times these $40,000, $50,000 – I’ve even heard a $100,000 – packages are just books and CDs and information. And it takes a lot more than just buying books, CDs, and information to make those deals.
We remember going to these events and thinking this information is great but we’re going to protect our wallet. If I have $30,000 or $40,000 I’m going to put that into actual deals and make my money work for me. I’m not going to put it into a big education seminar. And a lot of the time those people aren’t even there to help you when you’re in those times of need.
One of the seminars we went to one of the guys pulled us to the side. He said ‘You guys have what it takes to make this happen. But you’ve got to invest in yourself.’ He was like hammering us and hammering us to the point where he was saying if we don’t take this opportunity we’re not going to make it. And it was just so uncomfortable. It made us feel like crap.
But we were like we don’t feel like this is the right way to go, even though we don’t want to miss out on an opportunity. So obviously we didn’t end up signing up with the course, but just know that’s not the only way to be successful. We were still successful anyway.
If they’re pressuring you and hammering at you like that, then you might want to take a step back for sure.
Lie #3 Credit cards
We hear this all the time. They’ll give you all this information and their plan is to get you psychologically involved, get you emotionally involved. Like ‘Man I have to do this. I have to do this.’
Now that’s their job. Remember guys, these people are master salesmen and sales women. They go around the country and their main job is to gather as many people as they can into these programs.
But once they get you excited and you’re like ‘Man, I’m really excited. I know I can do this.’ – and they make you even feel like you can do it alone – just be aware that what they’re going to do is try to get you to pull out your credit cards. And the first thing that they do is tell you to take a break, go call your credit card company and see if you can increase those limits. So that you can buy their education course.
They’re going to try to get you to either apply for new credit cards, increase your current credit card limits, call your family and friends, or even pull money out of your retirement to be able to afford this education plan.
Last event we went to we saw there were about 300 people in the room and when they went on break they gave us a homework assignment. And out of the 300 people there were about literally about 150 or 170 people actually calling someone to help them get this product or to increase their credit card limits for them to buy these products. People were taking money out from credit cards, 401ks, their savings and dropping 40, 50 even 60 grand!
That’s crazy. We’re sorry. We know you need to invest in yourself, but when you’re just getting started it doesn’t take a $50,000 investment to learn this information. We’re big advocates of getting a mentor, but it just doesn’t take breaking the bank, spending all of your money, and getting a ton of debt just to get that information.
Lie #4 VIP and Ring the Bell
So this is where they segment the good kids from the bad kids at these seminars.
The people that do invest in their products, they let them sit at the very front of the room. They put VIP stickers on the back of their heads, they run them down the aisle or they ring bells. And they’re basically saying ‘Hey, look at these people. They’re the good kids. They’re doing the right thing. They’re investing in themselves. And all of you guys that don’t want to invest, you’re just here to get information, so sit in the back of the room.’
And nobody wants to feel like the bad kid right?
It’s all psychological tricks guys. They want to make you feel like you’re the chosen one. Make you feel good. And then everybody else that hears or sees you getting that they’ll feel like ‘Oh man, I have to do it too. I have to be a part of the club. If I don’t feel like I’m a part of the club I’m missing out on a big opportunity.’
Guys do not fall victim to that VIP bull. We even know someone that works for some of those programs. We’ve been told that they actually pay actors to go in, put on the VIP shirt, and ring the bell as if they are actual students. Even some of those testimonials that you read are fake as well.
It’s psychological. They’re doing all of these things just to get us really excited so that we pull out our pocketbook and do whatever it takes.
Lie #5 The bus tour
This is the property bus tour, where they put everybody on a bus, and they drive around. And you’re basically driving for dollars looking at properties. And they charge a lot of money. We’ve seen up to $10,000 or $20,000 just to be on the bus.
And we’ve got another secret for you all. You can call us snitches if you want but we’re just trying to help people. Haha!
These bus tours, guys they hire the same people throughout the year to go to the same house. Their intention isn’t to even fix the home up. Their intention is to hire people, hire fake handymen and make it seem like they’re actually fixing the home. So that when you guys come you get the impression that there’s a lot going on there.
And a lot of times, outside of even going into properties that need to be fixed and flipped, they’re just driving around like driving for dollars. You don’t even have to pay $20,000 to drive for dollars on a bus guys.
Just be smart with your money. Be smart with your time. We’re just trying to give you guys all the game, all the chances for you to protect yourself, protect your wallet and invest in things that are actually going to get you to that next deal.
We always say, we advocate, do not learn from the school of hard knocks. Invest in a mentor, invest in a coach.
But it doesn’t take $20,000, $30,000, $40,000 just to get in. And then another $50,000 for more products.
We know a lot of you guys are doing a great job on even getting out there, getting into some of these educational seminars. We bet there’s a ton of great information, but don’t feel pressured. It doesn’t make sense. On average we’re buying homes for $5,000. So, think about it and do the math. How many mobile homes can you flip at $5,000 a piece when you have 30, 40, or even 50 grand?
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