Real Estate Guru's
Real Estate Investing (REI) is a lucrative profession. The amount of capital that can be obtained with sound strategies and upfront planning is boundless. Yet for every ying there is a yang. Meaning everything in our world is a balance. Anytime you have potential for large profit you also have a large potential for bankruptcy. I have attended many guru seminars that summon excitement and a sense of electricity vibrating around the room. Music is pumping, people are clapping and dancing. Some are hollering phrases of liberty. The mood is set with a well planned presentation executed by the staff which eludes to a successful organization of people that followed the guru's strategies. They bring in guest speakers and members of their organization on stage to give their testament of success and why you should follow. Video clips with powerful music and strong driven speakers narrate the dramatic pictures of people being cheated by the system. The message portrayed is its time to quit procrastinating, its time to quit giving excuses, its time to invest in your self and education.
As the video comes to an end the lights are turned back on and the spokesman's tone is ever so compassionately sincere. He asks how many are dissatisfied at their job and with their life. Then he engages the audience saying its time you get yours! Do you want freedom? Do you want more money? Do you want more time with you family? And the audience chants back, "Yes!".
The speaker will continually iterate "We are going to show you how to succeed". Throughout the presentation you listen about a few real estate topics, but very shallow. Periodically more enthusiastic testaments are given and some are heart felt. After two hours of going back and forth sharing a little knowledge, creating hype, and all the while saying "We will show you how", it draws to closing. The speaker then asks the audience "Is your financial education worth investing in?". Now comes the money part of the seminar. If you pay $200 for our 2 day seminar we will show you how to be successful and get starting investing with no money. Blah...blah...blah.
When you attend the next seminar it is more of the same tactics they used in the first. Show you a tidbit here and there but not enough to do anything with. This time they try to show you why you need them by showing you their systems. The speaker says, our systems will help you do deal analysis, repair estimations, pick out remodeling themes that are preconfigured with matching SKU's to your local hardware store, find lenders, etc. You can't get this anywhere else, but if you enter the next level course for $35,000 you get access to all of this and more. You will have access to a mentor that will be there to hold your hand along the way. You will get hands on training at our facility. Now if you cannot afford the $35,000 talk with our associates anyway and see what they can do. Many times we will work with people if you meet our criteria.
When you meet with the associate they congratulate you on your interest in persueing the next level and immediately ask you to list all your assets, 401k, banks accounts, etc. If your getting the feeling their criteria is bull-hockey your right. The act as though it is an elite club, but all it really comes down to is money. If they rob the elderly of all their savings they don't care. Why because in return they are giving them knowledge and what they do with that knowledge is entirely up to them. Meaning everyone has a fighting chance and your success relies on what you do from there. While many of these statements are true under certain circumstances $35,000 is to much money to be taught what you kind find out online or in a library.
Of course they are feeding their shark tank with the hopes and dreams of the needy and dreamy. Some of the things they say have some truth to them, but in reality they are master salesman and women that manipulate and trick your emotions into thinking your safe with them and they really care.
I am an advocate that information should mostly be free. If your willing to put in the work and dig for the answers and invest time into the things you are passionate about, I don't believe anyone should stand in your way. Now do we have to buy a book here and there? Sure. But thats a fraction of the money these guru's are trying to get. I really wish people could come together with as much enthusiasm and willingness as is showed in these seminars, but for a good cause and work as a team. I do not agree with the mentality of scarcity. Scarcity means there is not enough business, material, etc out there for everyone. Now if you have an idea for a great invention do not go telling everyone or someone will do it before you. You must know when to apply this rule.
I envision a group where people come together to help strengthen one another, passing knowledge back and forth helping everyone get up to speed. A group that is not selfish in the fact they only want to know what you know so they can do it before you. This group would be dedicated to self development, education, and networking in an attempt to become proficient over time. Learning all the proper disciplines and processes to achieve the end goal. The group would accept all skill sets. After all there are many divisions in real estate. Some useful skills are:
- City Officials
- Utility Company
- Real Estate Agent
- Interior Decorator
- General Contractor
- Property Management
- Project Management
- and more
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