Just attended a REI seminar. your thoughts?

[mglshark]

Josh - very good, not only have you done your homework, you line yourself up to succeed regardless of how good (or bad) the seminar is! This is money and time well spent on your part! I can't tell you how many times I slip out to the hallway at a seminar and chatted with somebody (or somebodies) and next thing I know the info is going back & forth raising my financial IQ, learning more then the guy on the stage can ever share! Enjoy yourself and let me how things turn out!

Best

Marc

 

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[CVentures1B12]

Thank you for the welcome. I really appreciate this forum as a resource and look to learn a lot with you guys. I really look forward to everything that I can get out of this place and thanks everyone for making it a free resource that mglshark was taking about!!! I did not mean to hijack the thread, but I appreciate your input greatly PhxMJ. It seems that I do have much to learn and I hope that we may talk privately in the future, so that I may soak up even more knowledge!

Thanks,
Josh

 

[MJ DeMarco]

Thank you for the welcome. I really appreciate this forum as a resource and look to learn a lot with you guys. I really look forward to everything that I can get out of this place and thanks everyone for making it a free resource that mglshark was taking about!!! I did not mean to hijack the thread, but I appreciate your input greatly PhxMJ. It seems that I do have much to learn and I hope that we may talk privately in the future, so that I may soak up even more knowledge!

Thanks,
Josh

Nice to see someone mature, well-written and open-minded at such a young age ... time to exit parking. Speed++

 

[ocean]

No Seminar, book, class, or even a single mentor will give you everything you need to create and accomplish your plan. That is up to YOU! You decide what you want to do, then learn how to do it.

That being said, you must crawl before you can walk.

Want to get started in RE? Start with books. Get recommendations from investors, message boards, etc., and start reading. Spent $15 bucks on a useless book? no big deal. Chances are, you'll get something out of it. The free (or lower cost) seminars are not a bad place to get ideas, and grasp general concepts. They don't give you the details, but that's because it's different for everyone! And, when you start finding the value of an $8,000 seminar, it's not because you need it to tell you the details of how to begin. Those (many, perhaps not all) are the places to learn about advanced concepts that can make you MORE money, or be MORE effective, once you already have it.

Build your knowledge base, so when you meet investors you don't say, "what's that mean?". Also when a potential team member makes an uneducated statement, you say to yourself: "Next". Instead of working with inaccurate information. You are preparing yourself for the day when you walk into a group of "pros" and you can make a good attempt at fitting right in. They'll know you haven't done your first deal yet, after years in the business, they've got a nose for it. But they'll also see that you've done your homework. You are willing to put for the EFFORT, that's what they'll see!

You need to learn about:

1. The market, general and local
2. Strategies that work
3. Legal techniques, and details


Next:

Build your team.

Link up with your local RE group. RE is about location. You cant just pick a region and begin investing! Whether you realize it or not, your deals and success hinge around a few square footage, and the few miles of surrounding territory. And the local club in your target market is the best place to get a feel for that area.

General (such as this one) and local-area forums (often hosted by the local clubs) are a great resource to read, and network as well.

Then:

Get your contracts in order, and do your first deal.

After several months of networking, you should be able to know who is a "pro" and who is not. Get out there and start wholesaling deals!! move up from there when you have enough cash to handle the risk of a purchase.


Theoretically speaking, if you can't point to a map of your life and say "I am right here", you are not ready for your first deal.

Apologies for the long post, it just kind of flowed out...

 

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[MJ DeMarco]

No Seminar, book, class, or even a single mentor will give you everything you need to create and accomplish your plan. That is up to YOU! You decide what you want to do, then learn how to do it.

That being said, you must crawl before you can walk.

Want to get started in RE? Start with books. Get recommendations from investors, message boards, etc., and start reading. Spent $15 bucks on a useless book? no big deal. Chances are, you'll get something out of it. The free (or lower cost) seminars are not a bad place to get ideas, and grasp general concepts. They don't give you the details, but that's because it's different for everyone! And, when you start finding the value of an $8,000 seminar, it's not because you need it to tell you the details of how to begin. Those (many, perhaps not all) are the places to learn about advanced concepts that can make you MORE money, or be MORE effective, once you already have it.

Build your knowledge base, so when you meet investors you don't say, "what's that mean?". Also when a potential team member makes an uneducated statement, you say to yourself: "Next". Instead of working with inaccurate information. You are preparing yourself for the day when you walk into a group of "pros" and you can make a good attempt at fitting right in. They'll know you haven't done your first deal yet, after years in the business, they've got a nose for it. But they'll also see that you've done your homework. You are willing to put for the EFFORT, that's what they'll see!

You need to learn about:

1. The market, general and local
2. Strategies that work
3. Legal techniques, and details


Next:

Build your team.

Link up with your local RE group. RE is about location. You cant just pick a region and begin investing! Whether you realize it or not, your deals and success hinge around a few square footage, and the few miles of surrounding territory. And the local club in your target market is the best place to get a feel for that area.

General (such as this one) and local-area forums (often hosted by the local clubs) are a great resource to read, and network as well.

Then:

Get your contracts in order, and do your first deal.

After several months of networking, you should be able to know who is a "pro" and who is not. Get out there and start wholesaling deals!! move up from there when you have enough cash to handle the risk of a purchase.


Theoretically speaking, if you can't point to a map of your life and say "I am right here", you are not ready for your first deal.

Apologies for the long post, it just kind of flowed out...

Great comments, welcome to the forum plus a ticket out of parking. Speed++

 

[czach41]

Theoretically speaking, if you can't point to a map of your life and say "I am right here", you are not ready for your first deal.

+++ I Definitely need to make a plan. Thanks for the kick in the arse!

 

[Andrew]

I know nothing about real estate, but in my industry there are trade shows. I go at least one every 3 months. If you want to waste your time, you sit down and listen to someone is speaking. The real value comes from networking and learning new things, while talking face to face with other business people.

The cost? free-$100, plus your airfare and hotel. I've seen people leave and make significant amounts of money given the new knowledge and contacts they acquired.

 

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[randallg99]

the reality is that if you are self motivated, you will be able to achieve your goals without spending 8k on a seminar.

hell, 8k is enough for a deposit on a slum property... or even with exotic financing a decent property... I am absolutely not advocating exotic financing in anyway. But point being if you have the money, it does not take brain surgery to buy a cash flow positive property... balls, yes. Brains, no.

 

[bflbob]

the reality is that if you are self motivated, you will be able to achieve your goals without spending 8k on a seminar.

hell, 8k is enough for a deposit on a slum property... or even with exotic financing a decent property.

Heck, yes!

If you're going to spend $8k on a seminar, make it an 'action' seminar.

By action, I mean TAKE action.

That $8k investment in a property will teach you a lot more than a seminar will.
If it doesn't work, you probably won't be out more than the $8k.
But if it succeeds...:banana::smxA::cheers::icon_super::smx9::eusa_clap:

 

[kidgas]

I can't comment on seminars since I haven't been to one. What I can comment on is this: There are lots of ways to gather information that don't cost a ton of money. I read Cashflow Quadrant for free in 2000 or 2001...checked it out at the library. That book got me to thinking about assets and liabilities in a different way.

I read lots of information on the internet for free. Articles about investing in real estate and stocks, options, etc. One of the best investments I ever made was a book by Diane Kennedy entitled "Loopholes of the Rich". Since my wife was working on her real estate license at the time and we had a few rental houses, we were able to take advantage of her professional status and have saved approximately $6000 per year in our taxes for the last three years. I was able to discuss with my accountant in an intelligent fashion. Sometimes it is just knowing the right questions to ask and information to share. That is $18,000 on a $20 book.

I said thanks on the richdad site but don't know if Diane ever saw it. I want to publicly acknowledge her contribution to my net worth and would recommend anyone her read her stuff.

Anyway, knowledge is valuable, but I think you can get it for a lot less cost than several thousand dollars at a seminar. Just my opinion but that is what works for me.

 

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[Atufal]

I didn't read ALL of the posts and apologize if someone else said this better. I have almost 10 years in the real estate business, the last 4 years as a full-time investor in distressed residential properties (though not quite with the success I see here...).


I tell all newbies the same thing--do not pay more than $500 for any course or seminar until you buy or flip a house. It's unnecessary. The simple truth in information products is that people OFTEN don't get what they pay for.

Sometimes they get less, sometimes they get more.

As educators become more business-savvy about the job of selling products, they often realize that they can raise the price AND provide less information, saving a higher-level education for higher-paying "members" of the exclusive "Inner Circle Platinum Turbo Club". This doesn't mean that they don't know their stuff or that you can't learn something from them at EVERY level of purchase, just that they've learned the value of slicing the info up different ways.

A perfect example. There's a guy named Ron LeGrand. He's forgotten more than you'll ever learn about real estate, yadda, yadda. All true. And about 10 years ago he wrote a book called "Fast Cash With Quick-Turn Real Estate". It's out of print now, but it is a fabulous little book. You can absolutely buy that book and go out (with minimal help from lots of people on lots of forums) and do a deal. No question.

It is currently on Amazon used for 59 cents.

Fast-forward to 2004 or so. Ron LeGrand puts out another book, "How to Be a Quick Turn Real Estate Millionaire". It only costs $21.95. And it is terrible. It is like a bag of hot garbage. All testimonials and pitches and pictures and (if I recall correctly, copies of checks). Virtually NO content. Don't buy it. Don't basically read it in 40 minutes like I did in Borders and decide that LeGrand's a snake-oil salesmen. He's not.

He's just learned how to market better. I'm sure the book made him a mint. And bully for him. But don't you think for a second that that book is better than the first one. Don't you think for a second that the second book is worth 40 times the first one.

And the same thing applies to other courses and seminars. Be concerned when the seminar and course-marketing machine is larger than the real estate business.

Chris

P.S. Again I'm not knocking it, I just don't think newbies should go for it. And I guess I should tell you to take everything that I say with a grain of salt since I'm probably going to start writing my own course soon. And you can just bet that in a couple of years I'll be explaining to you why you absolutely have to pay $5,000 to become a member of my "Newbie Investor Real Estate Ski Ramp Club--Ride The Skis of Knowledge Straight Into Stratospheric Profits!"

Or some such.

 

[reipro]

This thread is starting to piss me off a little. Everyone has an oponion, but has no actual knowledge!

Of all the people that have posted responses here HOW MANY PEOPLE HAVE YOU TRAINED? My guess is NONE!!!! How many of you have laid it on the line???? We are so confident in our training that we offer a MONEY BACK GURANTEE!!!! So what are you out if it does not work NOTHING!!!!!! Ask 100 other mentors or people with a progam if they will gurantee your success? My guess is they will all be speachless.

Part of what we do in real estate is train people how be to Investors. We charge anywhere from $5,000 to $10,000 for our fees and I feel like we do not charge enough most of the time. We have taught people to make Hundreds of thousands of dollars. So what is that worth? IF YOU COULD TEACH ME HOW TO MAKE $100K+ PER YEAR for the rest of my life and it would cost me 10K to learn. I WOULD HAVE PAID THAT IN A HEART BEAT!

How did we learn the SCHOOL OF HARD KNOCKS! Yes you can learn that way, but it is a long and painful process I KNOW FOR A FACT! I am not selling anyones progam here and in fact I have given my cell number to many people to call me so they can ask questions for FREE! Where do people get off that all programs are scams, and they should only cost $500.00? You people have no idea what you are talking about!

There are many scams out there, so be careful in who you pick, but no one and I mean know one does it all by themselves.

 

[yveskleinsky]

Can you learn something from a seminar? Yes. Can you learn a solid chunk of what you need to know to do your first deal? Not from the ones I've been to. Can a mentor shave years off the learning curve? Depends on the mentor. Would most sane people sign up for a $10k anything after knowing someone for a couple of hours? I would hope not. I can tell you that the RD seminar is Russ Whitney- and they don't tell you anything- in fact they go out of their way to make things more confusing. Would I sign up with the promise of a money-back guarantee? Depends on how the guarantee is worded...and who the mentor is. It would do me no good to get a mentor whose expertise is land development in Florida when I want to learn about apartments in NM.

...The biggest step for me in real estate (and really as an adult in general) has been to learn how to weigh advice. If I listened to all the experts and mentors out there I would be at a very different place in my life. Think for yourself. If you want to go to a seminar and throw $10k at a mentor you just met- go for it. It'll either work out or it won't. Either way a lesson will be learned. Too big of a gamble for me. I would rather hang out here and run ideas past people who I know well enough that I can gauge the soundness of their advice. To each's own.

 

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[moolamaker]

:bgh:Hi all! Well I attended the 3 day "rich dad academy" here in El Paso and it was everything you all said it would be! I do believe it was valuable but I feel like I have more questions now more than ever. The speaker was very very pushy! And yes it was even more money than I ever imagined for the additional recommended training. I do not know if I can say any specifics about it so can someone let me know??? I would love to share..!!!!!!!!

 

[mglshark]

Reipro has a point - unless you have taught who is to say what is good or bad seminar vs cost. When I taught doctors in the health care industry how to grow their practice I got to experience so many of the same issues. The docs that would buy the kit, pay big money for personal consulting usually needed the material the least and was the easiest to help. The guys short of money and experience were the toughest being that you had to help them along with a million questions and concerns.

If you get unlimited hands on coaching with money back guarantee with real good coaching and results then that is a good deal. Better still if they stand behind their product, i.e. will they help you out when the going gets tough, holding your hand every step of the way. Anybody can be a good ship captain coaching you in calm seas, how bout during the storm? Will they bail out on you then or help guide you through it.

Ask for referrals and find three people that vouch for the program and can answer your concerns. A good coach will be happy to give you a list to call upon.

The cost of coaching at $10K to earn $100k/yr is a bargain. I coach docs helping to raising their income easy $100K + / yr yet only charge them a few grand. Should have charge them more looking back! Would made a lot more money not coaching them and just working on my practice. But I did like watching marginal practices becoming successful!

Again good point from Reipro.

And for the guy back from the 3 day seminar - how solid was the training and what deal did they offer at the end?

mglshark

 

[mglshark]

One other thing -

I attended the free RK 2 hour RE pitch fest, not bad for covering RK broad principles of business & life, no talk at all about the local RE market or methods now used to make money in a falling market. Just the pitch to sign up in the back of the room for the three day course with hint of one year coaching attached. So many people ran to the back I wondered if some where plants. I would rather check out & work with a guy like Reipro then buy into a generic off the self one size fits all course from the guru (not even from my state) on the stage.
IMHO


mglshark

 

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[moolamaker]

To mglshark, the courses ranged from $4000 to $53,000. The speaker did recommend the ones in the middle at around $29,000 if I remember correctly. Many people signed up. I was amazed however at the amount of people that I met who did not read any of the rich dad books. Like I said earlier, I did learn. I actually did read all the material and did listen to all the cd's that were in the "free" gift when I signed up and you know what? Everything that was in the books, especially the big fat one is what we covered in the 3 day seminar. A few new things like how to use convenience checks...deposit them, pull out cash, use for down payment on a property and then pay off the credit card balance with another credit card and repeat the process until you make a sale and pay it all off! I am amazed! I never knew that could be done, and I don't think I would do it....I am glad I found this board because it continues to be an invaluable source of knowledge! Thank you!

 

[yveskleinsky]

I am a self confessed seminar/class junkie. I love 'em. I love everything havin' to do with 'em. There is so much information floating around out there- this thought alone totally excites me! Now, I don't go in looking to learn everything I need to know about that topic they are speaking on. My whole goal is to pick up 3 concepts- could even be concepts that I've heard before, but maybe this time it sank in. 3 concepts and I consider it time well spent. I gotta say that I go to seminars on everything- dog training, flipping, pastel drawing, mutual funds, internet marketing, (man, I felt like Rip Van Winkle in that one! ...WTF happened? I'm 30 and totally lost technologically! Did I fall asleep for 10 years? crazy.) you name it! I always learn 3 things, and I generally leave happy. Sometimes I leave a little pissed off- but I always leave with 3 new things.

It's all in your expectations. I've learned so much from this forum- I learn at least 3 things everyday- that's why I'm hooked!

 

[phlgirl]

I am reviving this thread to see if there are any new people here who have participated in any of the 'Rich Dad Academy' courses?

I have a friend who is , as we speak, attending the weekend 'Intro' program.

I am not looking to debate whether or not seminars, as a whole, are worthwhile investments but would like to hear feedback from anyone who has experience with these courses.

I tried to find discussions about these courses on the Rich Dad forum but cannot seem to find anything??

Thanks!!

 

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[PaulRobert]

Bump for today's forum posts.

 

[hatterasguy]

So in this economy who is still paying $10k to hear a miracle guru?:blah2:

 

[Rickson9]

For those who may be interested.

Road To Rich Dad
"Robert Kiyosaki, best-selling finance author of Rich Dad, Poor Dad, has spun-off his book into a self-help empire of TV shows, board games and investment seminars — a string of which are scheduled across Canada. But rumblings are being heard from the hundreds of hotel ballrooms across North America where Kiyoaski's Rich Dad seminars are staged. The complaints? That initial Rich Dad sessions focus less on education and more on marketing and upselling further sessions that cost up to $45,000."

http://www.cbc.ca/marketplace/2010/road_to_rich_dad/main.html

 

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[MJ DeMarco]

Road To Rich Dad
"Robert Kiyosaki, best-selling finance author of Rich Dad, Poor Dad, has spun-off his book into a self-help empire of TV shows, board games and investment seminars — a string of which are scheduled across Canada. But rumblings are being heard from the hundreds of hotel ballrooms across North America where Kiyoaski's Rich Dad seminars are staged. The complaints? That initial Rich Dad sessions focus less on education and more on marketing and upselling further sessions that cost up to $45,000."

Repost, but thanks for reminding us!

https://www.thefastlaneforum.com/showthread.php?25286-Rich-Dad-Seminar-Exposed-(FINALLY!)

 

[CVentures1B12]

Thanks for posting this! Interesting...

I went to the Intro course a long time ago (probably about 3 years) and definitely found it interesting and fun. They sure know how to get you dreaming, thinking, wanting and hyped up. I did enjoy it and split it with a friend so it was only $250. Overall, I wasn't disappointed but I also didn't give in too their high pressure sales and pushing of the upper level courses. I do feel bad, however, for the people that were convinced and didn't follow through after the courses...

 

[Kung Fu Steve]

I can't wait to get my seminars off the ground. I'm going to provide more value than any of these guys. I'm out to change lives not just bankrupt you :smxB:

The entire reason I came to this forum was because when I was first starting out, I read Rich Dad Poor Dad and got on the forum to ask questions about how to get start in real estate like everyone does. yvkleinsky invited me over here and told me to look for posts from Runum and SteveO. I learned everything I needed to do from them. There are lots of the people on this forum you could just ask and they'll tell you step by step what to do to invest in your first property.

As far as Rich Dad Seminars go, I ALMOST signed up for the Rich Dad Coaching when it came out. Where you have a personal coaching call once a week and they work with you on your plan. I think it probably would've been worth the money, the chick I talked to was a real investor and not just some houligan with a script.

As far as the seminars go, I'm going to rock their socks off, and then I'm going to get MJ to come present the fastlane :smxB:

 

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