WTF, didn't I write about this?

[MJ DeMarco]

Some Trump U. students say they felt cheated

Reads like it's straight out of my book...

NEW YORK (AP) — Bob Guillo spent almost $35,000 hoping to learn some of Donald Trump's real estate secrets. Instead, he says, he left the sessions of Trump University cash-poor, with little more than a photo of himself next to a life-size cardboard cutout of the mogul, who never even showed up.
"They told everybody to get their credit card limits raised to buy real estate, but the true purpose was to pay $35,000 for the next bunch of seminars," said Guillo, of Manhasset, on Long Island.
Nora Hanna dished out about $17,000 for the Trump University program, concluding after just a few days that "what I learned there, I could read on the Internet."

Just because Trump, Kiyosaki, or [enter any guru here] has their name attached to it, doesn't mean they don't want your money. They're rich for a reason.

 

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[JEdwards]

Armondo Montelongo from flip this house. The idiot, said he did 70 million last year with this same model, hopefully the other AG's catch on to this scam and shut them all down.

Cute story, I had a girl apply a while back that worked at his call center, The rule was you are not allowed to look at him and you will get fired if you talk to him.

 

[arcola]

Is this for real??? How could anyone spend that much on a course? What do they plan on learning that isn't in his biography?????

How many deals were closed by the students after they took the course? Compared to your average house flipper's education

I bet its less! I bet a loser who would take that course, who doesnt have the street smarts to know a good investment from a bad one SELLS LESS HOUSES

 

[arcola]

bad news for someone trying to run for President.....

 

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[Mike Kavanagh]

It was said that RDPD school was the same way.
Call for high limits on cards, pitch more expensive seminar.

Disturbing really.

I think the model is really expected obsolescence as you said in the book. I mean really how many people are going to go do this? Or expected to understand the information?

Not everyone learns the same way...

 

[Vigilante]

They create kind of a cultlike mentality where there's a frenzy going on to purchase these high-priced courses in the back of the room and you feel like you're missing something if you don't buy. There's a formula to it. They create a logical progression and you think that you're going to get your money back in spades. What you don't know is that nearly all of the people creating the frenzy are plants.

 

[N.S.]

Sadly we are seeing more & more of this sort of thing in the UK too. I am in the property (Real Estate) industry here (as a business owner , and yes it is a leveraged & largely automated one that I don't need to work in very much, it just doesn't scale easily) and I have seen these tactics deployed many times. The worst thing is that the losers here are vulnerable people ie those with no financial literacy and those who rarely have the means to find £1000s to pay for these courses - hence the trick of teaching them to raise credit card limits. It really stinks and is morally bankrupt.

 

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[Vick]

17,000$ on a Trump University program. 35,000$ to learn Trumps secrets.

now that's insane.

 

[InMotion]

Here's an interesting investigative report from Canada..


[video=youtube;HE6nT0oyPt8]https://www.youtube.com/watch?v=HE6nT0oyPt8[/video]

[video=youtube;dv6feHB0AE4]https://www.youtube.com/watch?v=dv6feHB0AE4[/video]

[video=youtube;9iimvyVCEGA]https://www.youtube.com/watch?v=9iimvyVCEGA[/video]



Looks like Tr*mp has the same model as RK...go figure as they are seen on videos together and "collaborated" on a book or two. Interesting how they are allowed to continue these "workshops".

 

[hedgehog757]

Why would anyone pay $35,000 to learn something in a seminar?!?!?!

 

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[CommonCents]

If there was outright deception, that is one thing. But I suspect these are mostly slow lane fools thinking that they can plunk down several grand and get some secret to being rich. Almost like the lottery, then they bitch because they didn't win.

 

[camski]

No one should be surprised by this. Hey these guys ar smart. They know there is a large segment of people out there looking for the EASY, magic answer to becoming wealthy. They (Trump, RDPD, Armondo) know if they put their name on it people will flock to and pay big money just for a glimpse of how they did it in the hopes that then they (attendees) can do it to.

My moral compass is set a little different and I couldnt in good concious take these peoples money for in essence nothing. Nothing of any real value anyway. But just because I wouldnt do it doesnt mean I neccesarily have an issue with it. They are putting it out there and people are coming and paying their money. I think the responsibility falls on the consumer not the seller. I dont know that they (Trump,RDPD,AM) have dont anything illegal.

This stuff isnt new if you think about it. Quotes like "there's a sucker born every minute", "a fool and his money are soon parted", "never give a sucker an even break" are all old sayings. To me this stuff is the snake oil of its day and even though we live in the information age people will still fall over others to give people their money. Hard to blame those guys if they are taking it. Of course that one caveat being that they didnt break the law.

 

[PopEmersen]

I spent absolutely NOTHING to learn how to fliip houses and do real estate, the BP forum has everything you need and Google has the rest. I can't judge too much because I have been gullible too, not 35k or 17k gullible, but i got got.

 

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[Groupie]

the BP forum

Bigger Pockets?

 

[PopEmersen]

Bigger Pockets?

Yep

 

[100k]

I have his audio book!

It's crap. Worthless. Just 1 long advertisement for his university course.

 

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[goodfella]

lol for 20 thousand you could just get a real university degree

 

[beatgoezon]

Strange how most of these people claim not to have capital to start a business, but when something like this comes up they somehow shell over thousands just to get a shortcut...

You COULD work, read, and research these things online or from books, or you could pay someone that much money to look for a shortcut to wealth.

It's exactly like you said MJ, people don't really care much for the process if they can have the event without the blood, sweat, and tears...