Step right up, Become a Real Estate mogul over night!!!

By
Real Estate Agent with sales representative : Keller Williams Experience Realty
https://activerain.com/droplet/4n5y

 "Get rich quick real estate seminars have been around in one form or another for decades and for the most part are almost identical to one another" It's OK to dream, just don't bring your credit cards with you. 

 

A few weeks back a colourful personally addressed invitation stood out from amongst the usual stream of bills. An invitation to attend a Real Estate wealth building seminar hosted by Scott Yancey, the star of one of A&E's dozen or so Real Estate related shows, Being a sceptic I was doubtful of any life altering wisdom being gained from 2 hours in a Holiday Inn conference room regardless of how convincingly the promise of such was crafted.

 
The idea of a room filled with people looking to invest in Real Estate did strike me however as an intriguing opportunity to do some networking of my own, and the complementary dinner and free digital camera being offered up to those who attended was more than my typical Tuesday evening had in store.

Tuesday night I arrived 10 minutes ahead of the 6pm event time with a friend and fellow Realtor. Coming strait from a meeting and still dressed in business attire stood us out from the packed room of already seated patrons and perhaps as well to the ushers for whom we must have appeared choice targets for what was about to unfold. While other last minute arrivers were being directed by the attendants to the few remaining seats at the back corners of the room we were wisked to two unoccupied front row seats just spitting distance from the podium. 

A few minutes later the evening's main speaker for the event was introduced as he ran up from the back of the room head down and fists pumping. (why some keynote speakers still insist on doing this is a mystery) Typically this is the point at such events where the audience breaks into applause, even cheers. There was instead a moment of almost total silence that fell over the room, which the host expectingly ignored. This was not the laser white toothed bleach blond event poster boy Scott Yancey from the TV, whose promised presence was the lure deceptively used to get as many unsuspecting butts as possible into the seats that evening.


Instead for the next hour we would listen to some fast talking unknown shill as he unloaded a cesspit of  banal affirmations and platitudes concocted to persuade  all in attendance that he alone held the key to our much desired life of financial freedom and abundance. Not unlike the busloads who get dropped off each evening to door knock your neighbourhoods offering you a chance at salvation, this was just one template of an event that was no doubt simultaneously occurring in towns and cities across Canada and the US.


The last event of this nature I recall attending a number of years ago was held by Robert Kiyosaki, author of Rich Dad Poor Dad.  Another one of many "how to save your ass from the perils of poverty" authors and personalities who once a certain level of public recognition is attained, end up fronting programs that prey upon the vulnerability of the masses that stems from the want of something more substantial in life.


My earliest recollection of such programs which have been around in one form or another for decades and for the most part are almost identical to one another in their structure and intent, was by a guy named Tom Vu. Some of you will recall the tacky late night infomercials with him posing amongst bikini clad beauties next to yachts and Rolls Royces, delineating to us that we too could bask in the same glow as this once poor Vietnamese refugee simply by taking his rags to riches seminars.


To sum up, the event last night was bait to encourage you to sign on for a grand 3 day event in Toronto where the key secrets and the tools to begin building your overnight real estate empire in Donald Trump like fashion would be unveiled to you. From the various accounts posted online by participants, once you are there and out $2000 you are compelled and intimidated over the three days into giving over tens of thousands more of your dollars by hook or by crook for the additional must have products and resources one would need if one were indeed serious about achieving results from using their "systems".


With each page change of the polished power point presentation it was increasingly apparent to me that none of the time lines or any of the numbers presented as fact in their success formula's made one bit of sense in the real world. All of it was formulated on the premise of buying homes for half of their market value, then flipping them in less than 30 days for full price. The same Machiavellian pitch that the four-flushing Tom Vu delivered in his seminars 25 years earlier before being sued into obscurity by a number of his students for fraud and false advertising. Déjà Vu!


If you do manage to find a neighbourhood distressed to the point that owners are willing to part with their homes for half of their market value, all I can say is good luck to you trying to resell them anywhere close to full value inside of a year let alone in under 30 days.


Best of all as a Yancey program member, you can borrow 100% of the money you will need to begin buying homes right away, regardless of your financial qualification, and all from lenders available exclusively to members for a mere 1% interest!!!! What they neglected to share with us is any details on the compounding interest after that 30 days which a google search of registered complaints shows to have resulted in the financial crash and burn for numerous people who drank their kool aid.


At the intermission we beat a hasty retreat, forfeiting our promised free camera and complementary dinner, (if you can count the eat on your feet cold sandwiches and coffee being set up in the hallway as dinner.) I have no idea how many took out their Visas or MasterCard to buy a 2k ticket to the 3 day seminar that night. If 5 to 10 of the hundred or so who were there did I am sure the event was counted as a success by the promoters as it at least was for a couple dozen local babysitters.


Real Estate has and will always be one of the most successful tools for creating personal wealth. The knowledge and the resources to make money from Real Estate do not come from travelling carnival barkers trained to pick your pockets. 

Do your own due diligence before committing yourself and your money. There are legit programs on the subject to be found and even those are for the most part reiterations of information you can find yourself at your local Chapters Book store. 


Try one of these for starters:http://www.chapters.indigo.ca/books/search/?keywords=don+r.+campbell 


Learning the market and learning how to select the few properties from the many which are best suited for investment, and leveraging the resources of genuine professionals, those being bona fide professionals who actually work at the front lines of the Real Estate industry day in, day out, these are the pillars to success. 


Master these steps and you will most certainly make money, not over night, but definitly over time. Many among us have and do, and do so by learning and sticking to simple and timeless principles, not by chasing rainbows painted by seasoned Nevada pitchmen. 

Posted by

 Mike Montague

  

Barrie Power of Sale Listings

Barrie home values

 

 
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Rainmaker
212,309
Stefan Winter
Real Estate in IL & NV | Owner of Real Estate Web Tech | Daily Vlogger - Las Vegas, NV
Owner - Winter Group & Real Estate Web Tech

I went to a seminar like this by Trump University about 3 years ago, they presented the exact same thing buy houses at half value, rent them out until you can sell them, or flip them. The statistics for someone in real estate are beyond hopeful.

I stayed the entire time just for kicks, I'd say at least 50 people signed up and it was 4000 dollars. It is crazy how much people will believe with just an excited speaker and never do any due diligence.

Mar 12, 2014 08:25 AM #1
Ambassador
2,341,339
Fred Griffin presently on Leave of Absence
Fred Griffin Real Estate - Tallahassee, FL
Licensed Florida Real Estate Broker

    My neighbor ran over to me with that flyer from the HGTV or A&E guy.  He was so excited; he was going to learn to flip houses and get rich.

     I told my neighbor to read the fine print.  The TV Star would NOT be the one appearing; at best the TV star might appear for a few minutes on a Satellite feed or a Recorded DVD on a big screen.  

    There would be hype, there would be shills in the audience;  you would be asked to part with $$$ several thousand dollars for the "Complete Program".   My neighbor thanked me and threw the postcard into the garbage can!        

Mar 12, 2014 01:12 PM #2
Rainmaker
391,425
John Wiley
Right Move Real Estate Group- EXP Realty - Fort Myers, FL
Lee County, FL, ECO Broker, GRI, SRES,GREEN,PSA

Mike, there are plenty of people who live well off the greediness of others. These programs work because people want to get rich quick without much work.

Thanks for sharing.

 

Mar 13, 2014 01:43 AM #3
Rainer
4,217
Harry Naill
York, PA

As a re-developer and flipper of houses, I actually see this a funny myself. I rarely get a house at 50% off it's value, if it is, it's because the house is in total disrepair.  I may get it for 65-75% of value, but till you add in my time, cost, and my construction crew that goes into repaint, do new floors, re-do entire kitchens and baths, elec, new heat and HVAC systems etc etc.  It's not easy nor is it get rich quick!  It's work and I get maybe 25% return at best!  I think those of us that do it, that are local, working with people that need the help, or even have abandoned house that would just sit for years do provide a valuable service and if you have a few houses in your area that look like they have seen better days, it's nice to have someone come in fix it up, clean out the junk yard and get a new family in there.  But then again I'm not fist pumping up the isle of a conference room somewhere trying to sell any one my business platform for 2000k a pop, maybe if I did I'd be a lot richer than doing it the hard way the right way!

Mar 13, 2014 04:34 AM #4
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Rainmaker
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Mike Montague

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