Do Real Estate Investing Seminars Really Make YOU Money?
One of my favorite quotes is by Zig Ziglar, “You can have everything in life you want, if you will just help other people get what they want.” As I travel around the country hosting real estate investing seminars, I keep in mind that all of humanity is connected – and we can all accomplish anything if we truly believe in ourselves.
When I first entered the business in 1987 there wasn’t much happening in real estate coaching – just some late night infomercials. Dave Del Dotto was essentially the only real estate guru (to begin with) until Carlton Sheets appeared a couple years later. Of course, you could also buy some how-to books like ‘Nothing Down’ by Robert Allen. But it was very limited, especially for someone wanting to jump in and find success as soon as possible.
It took me 8 years to really understand real estate investing; I made my share of mistakes and scared myself out of the business altogether at least 3 times. Over time, I realized that when I can help people really change their lives, and avoid costly mistakes by keeping them on the right path, I’ve accomplished my goal as a real estate mentor.
Real Estate Investing Seminars go Live!
Real estate live seminars didn’t really come of age until the ’90s; Robert Allen, Russ Whitney and Dean Graziosi were the ‘grandfathers’ of these events. I think they all started with great intentions, providing guidance and worthwhile content, but over the years I watched them lose focus. Money seemed to get in the way of their mission, while their ‘calling’ took a back seat.
Good real estate mentors focus on one main thing, even at free live events, delivering valuable content. I make it a point to frequently attend other real estate investment seminars to see what they are promoting, and how they are helping people start their REI careers.
My live ‘training events’ are packed with up-to-date and clear cut content you can use right now. Attendees tell me they leave with a new conviction; that now they can do it because they have enough real information to get started. If they end up hiring me to coach them, it’s because they have seen my character for themselves and experienced what I have to share. Now they understand the difference between a purveyor of rhetoric and a mentor on a mission to guide and assist, keep them accountable, and accelerate their success.
Doing it Right, for the Right Reasons
New investors realize quickly that having a go-to person with experience to ask questions and lead them step-by-step along the way is the most valuable resource. People ask me all the time, “Why do you share so much information on how and what to do in real estate investing for free?” My answer: “Real estate investing is a business where ‘exception to the rule IS the rule.’ It’s important for students to see who I am and experience how my training can expedite their learning curve and their success, exponentially.”
As a mentor, I know the value of my own knowledge; built brick by brick over 30 years of ups and downs in the real estate industry. I’ve been there and back, and I know what it means to strive to get ahead without losing money; creating clear methods out of confusion and TMI. So, I always make a point of sharing true actionable content at the live events I host across the country and in my online webinars.
Watch out for Real Estate Investing Scams!
Here are a several things to wary of when attending a real estate investing seminar!
Free ‘Hook You’ Seminars – They want to entice attendees into living the dream of what real estate investing can do for you: the money, the house, the car. They make it sound glamorous and promise you that it can be achieved by buying their system.
The ‘Hard Sell’ – Towards the end of the free seminar comes a hard sell, where there is some combination of scarcity tactics and emotional appeal.
Raising Credit Card Limits – As an exercise in negotiation skills, you may be asked to call your credit card companies and have them raise your limits. The real motive is for you to pay for the expensive coaching upfront, and sign contracts with strict terms and conditions. This method also works to prevent any charge backs, disputes and enforced collections, so that the coaching entity can get all their money or fees up front!
Added Coaching, Field Trips and Courses - It never ends. Even if you do sign up for the advanced course, there will be additional fees for mentoring, on-site coaching, etc., etc. Unfortunately, the mentor you were so excited about will not even be in attendance, because these extras are usually coordinated by their other students.
Investment Deals – This is honestly the one that upsets me the most. Not only do you pay for overpriced coaching, but now the entity will try to sell you their properties for more profit in their pockets. They say that they do all the ‘hard work’ for you, while you reap the benefits of a great deal. Believe me, these are the deals they could not sell themselves (so they sell them to their students, who are new to the industry and eager to find deals).
The Keynote Mentor is Never Present – People who join these seminars usually do know something about the mentor who sponsored this event. They think he is successful because he was on a TV show or authored a book. Anyone can publish something in the Internet age, and as far as television goes – any prominent TV station has producers who reach out to active investors to request their participation.
What Real Mentoring should Look Like
Truly successful mentors don’t have time to work on a TV show. I was approached in 2015 by Departure Films in New York City (a large production company for HGTV, DYI and Travel Channel) about being on a home show. I honestly did not know how I could fit that in my schedule and still take care of my real estate business and coaching students, so I declined.
Real education for investors is available and affordable. When you work with an investing mentor with long standing experience and a reputation built on forthright honesty, it can expedite your learning curve significantly – avoiding costly mistakes. Simply put: be wary of the smooth talking real estate guru and their gimmicks. If it walks like a duck and talks like a duck…it’s never a truly successful investor/mentor but just a real good salesperson.
Hire a coach who really takes personal interest in your success with every communication; who is the real deal and fully approachable. Honestly, your time and money is too precious to waste on a ‘talking head.’