Armando Montelongo is the current "king" of real estate seminars. And if his students could make a fraction from real estate that he makes from his students, there would be no issue. But that is rarely the case.
As Forbes magazine put it, seminars are not for teaching - they are for selling. They are the modern version of the old-time medicine show, where the huckster entertains you, then pressures you to buy some nearly worthless "snake oil" that does nothing for you, but tastes okay because of the alcohol content. Real estate seminars are not much different except that you replace "snake oil" with "training".
The definition of "scam" is "a fraudulent business scheme; a swindle. To include misleading, misdirected or exaggerated claims in advertising. A ploy by a shyster to raise money. A deception practiced in order to secure unfair or unlawful gain. Any act, expression, omission, or concealment that deceives another to his or her disadvantage" Does this describe tactics that include enticing people with sweet promises to attend a "free" seminar that is designed only to convince you that you must put up $1500 for a second seminar in which you are pressured into signing up for a $40,000 bus tour? And then that bus tour is little more than a ride through a low income neighborhood looking at foreclosures, which, I might add, is something you can easily do on your own. you could then take the $40,000 you saved and actually start buying a foreclosure.
Most of today's real estate gurus use similar tactics, including the Carlton Sheets scam, and several others. A mere handful of "gurus" are legitimate, but they do not do late-night infomercials and rarely utilize seminars. They concentrate on providing a good product and service, and when it is good, you really do not need sneaky tactics to sell it. My own course, "The Simple Man's Guide to Real Estate" is an example of a program that sells itself by word-of-mouth. I have served over 150,000 folks over the last 20 years.
Here is a complete Armando Montelongo Scam Review for those who want to know more. And you can visit the home page of that site for a listing of accurate reviews on about 20 of the Top Gurus. Live and learn.
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