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Keep your Wallet Closed at that next 'Investor Event'

By
Real Estate Agent

ty penningtonYou see these seminars that offer to teach you how to invest in real estate and eventually take over the world but is there any value in what they are teaching? I attended an event not too long ago from Pathway Events Presentation and I'll be honest, I really went to get a picture with Ty Pennington.

But they pretty much kept the 'hunk' under wraps until you signed on the dotted line for their seminar which was an eye popping $1997. Had to listen to the whole sales pitch and how the $1997 wasn't bad because someday you are going to be a millionaire and that's chump change to the likes of the 'Donald'.

But I'm pretty skeptical on what they were teaching because they were selling a 'Property Analysis Report' that you do on any property in the U.S. and get a value for it.

Really?

Sounds like a giant MLS to me but what is it really that all these folks are plopping down their money to get? In sales speak they were telling me that I choose a particular property that I might want to invest in, pop in the address and this 'program' will let me know it's value and return on investment.

Really?

I can't even do that with the aid of the MLS and years of experience so you are going to invest in a property that a 'Zillow like algorhythm' is going to pop up for you?

'Never buy a property with negative cash flow again!'

Wow, it's that easy .... or is it?

But wait .... it gets better! There are 'strategic funding partners' that will fund 100% of your deal, up to $750,000 too!

But wait .... on these deals the 'partners' will only change a fee of 1% of your deal and will fund in 7 days!

Wow, all these years I've been doing it all wrong. All I needed was this miraculous program that only they sell!

If it was this easy don't you think that all the Realtors® on the planet would know about it?  AND be using it!

Keep your hard earned money and start a relationship with a good Realtor® today if you want to become an investor and skip all these stupid programs. It takes a lot of work and strategy to do investing successfully and make your money work for you.  

It's just never as quick and easy as punching in an address ..... honest. 

 

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  Lyn Sims    Schaumburg IL Area    Northwest Chicago Suburbs  ●  (847)962-7104
 
 
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Fred Griffin Florida Real Estate
Fred Griffin Real Estate - Tallahassee, FL
Licensed Florida Real Estate Broker

     The "Flip This House" guy is running radio ads in Tallahassee, and sending out postcards.  "I'm holding a limited seating, 2 hour free seminar."  

   My neighbor said he might go.  I explained that the actual TV Star will not be there; it will be some salesman.  They will probably have the TV Star appear on a big screen, maybe a satellite feed.  Then the salesman will pitch a course costing several thousand dollars.

    The neighbor said he might go anyway.  I warned him to leave his credit cards at home!

Oct 27, 2014 05:07 AM
Lyn Sims
Schaumburg, IL
Real Estate Broker Retired

Fred: There was another guy that sent me an email over this weekend on flipping. I won't be attending. Try & keep your neighbor home.

Oct 27, 2014 06:32 AM
Carla Muss-Jacobs, RETIRED
RETIRED / State License is Inactive - Portland, OR

Oh geez, the snake oil salesmen 2.0 version!  The only people making money from this are the ones that put on the investment seminar to all the suckers willing to go, and plunk down $29.00 for the CD, $69.99 for CD and handbook, and WOW $1.997.  The cost of being a sucker just INFLATED.

Oct 27, 2014 07:56 AM
Chris Ann Cleland
Long and Foster Real Estate - Gainesville, VA
Associate Broker, Bristow, VA

Really tired of the get rich quick schemes in real estate.  If it was all that awesome, why wouldn't these folks be using it secretly themselves?  No.  They make far more money selling hope.

Oct 27, 2014 11:34 AM
William Feela
WHISPERING PINES REALTY - North Branch, MN
Realtor, Whispering Pines Realty 651-674-5999 No.

I always figure if these deals are so great they would not be giving seminars but working the programs.

Oct 27, 2014 01:41 PM
Lyn Sims
Schaumburg, IL
Real Estate Broker Retired

Chris Ann: They did have 'success stories' there telling about their investments. I wasn't impressed.

Bill: Supposedly they are but the U.S. is a big place & I still can't figure out how this program could make a good financial decision by click a mouse.

Carla: Yep, mighty hefty snookering.

Oct 28, 2014 09:23 AM
Gene Mundt, IL/WI Mortgage Originator - FHA/VA/Conv/Jumbo/Portfolio/Refi
NMLS #216987, IL Lic. 031.0006220, WI Licensed. APMC NMLS #175656 - New Lenox, IL
708.921.6331 - 40+ yrs experience

Lyn Sims  ... What's the old saying?  "If it's sounds too good to be true ... it probably is"?  I like Carla Muss-Jacobs, Principal Broker/Owner snake oil comment.  It definitely suits this well ...

Gene

Oct 29, 2014 01:12 AM
Grant Schneider
Performance Development Strategies - Armonk, NY
Your Coach Helping You Create Successful Outcomes

Lyn - you have it right.  As soon as I hear "with my proven system" I shut down.  There is no such thing as a free lunch.

Oct 29, 2014 09:15 AM
Lyn Sims
Schaumburg, IL
Real Estate Broker Retired

Grant:  Somethings just can't be done 'effectively' by clicking your mouse. It's a big deal to get the numbers right.

Oct 31, 2014 12:34 AM
Sharon Parisi
United Real Estate Dallas - Dallas, TX
Dallas Homes

Lyn, I had two clients who were taken to the cleaners by one of these groups. Investors are so much better off calling their trusted Realtor for information and guidance.

Nov 02, 2014 01:47 AM
Lyn Sims
Schaumburg, IL
Real Estate Broker Retired

Sharon:  It just seems odd that a 'zestimate' type of device would be preferred to market knowledge.

Nov 02, 2014 10:58 PM
Jeff Pearl
RE/MAX Distinctive / LIC in VA - Lovettsville, VA
Full Service Full Time Realtor

Yes, these type of presentaions are almost always a bunch of bs set up to extract as much money as possible from those that attend. They all make me sick. Unbelievable how many people get suckered into believing that hype.

Nov 03, 2014 08:17 PM