Real Estate Seminars ?Urgent Need Advice
My father just moved to Phoenix, Arizona. And he is getting into some group that will cost 15k to teach him everything according to him. To me this sounds like bad news. He wants me to go down there to get started with him. He is going to pay them the money on Thursday. Does anybody have any thoughts on these types of things. Thanks in advance.
15K sounds like a bad news situation. given the little info you have provided, however, It's difficult to comment with any authority. What does he get for his 15K? What kind of guarantees do they offer? Do they have any verifiable references. What about the unhappy people? Do they handle their dissatisfied customers in a timely fashion?
Find out who they are, and do a google search. That'll probably bring up information about them.
I'd urge him to hold off until you've both had a chance to do due dilligence about them, and their program.
Jeff
15K? sounds like they should take the deal from A-Z for that.
Find out who it is and post it here. Mainly what people are paying for is some coaching and handholding to build their self esteem to the point that they will take action. At times I am sure 15K is cheap
[addsig]
15K seems way out of line. What is his current experience? Can he afford it? If he can or puts it on credit card, ask for advice of others on this website (including me) as to who he and you might use to get the most bang for your buck. Education is definately a must, especially and only if you use and apply it. You will get many answers to this question, but do your due diligence. Some "Gurus" are better and well known in some parts of the country more than others. Ask yourself, " What are you hoping to get out of this?" Are you or your father a newbie ( someone just starting out) or do you have a few deals under your belt? It's easy to throw away money on seminars, boot camps, and coaching. You need to figure out where you want to do your investing first: Wholesale, Retail, Flipping or assigning contracts, Lease-Options? The list can go on. The key is to focus in one or two areas at the most and then after some successes move on.
You also have to ask yourself or your father does " What am I really gaining from this?" How much hand-holding does he need? Is he the type that learns from people being in touch with him constantly to make sure he does what he should, or can he learn from books, tapes, and live seminars and run with it. I have extensive knowledge in both. Ask around what is best only after you answer these questions.
I got some information from my dad. The guys name is Nouvea Riche. His website is www.inwiththenew.com. I have never heard of him. I have a little experience in investing my father has none. But he has 15k he can lose i do not I am young , just stating my investment career. They offer from what I can tell a5 day seminar,3 seminar , and books cd,s etc. Plus they assit you in finding properties managing find tenants. I have learned a lot from reading books my fsther is not interested in reading a book. I am just not sure if this would be really worth 15k to someone.
Younger,
There's been a fair amount of discussion in the TCI Forums about that organization. Here are links to some of the threads:
http://www.thecreativeinvestor.com/modules.php?op=modload&name=Forum&file=viewtopic&topic=30626&forum=19
http://www.thecreativeinvestor.com/modules.php?mop=modload&name=Forum&file=viewtopic&topic=25842&forum=33
http://www.thecreativeinvestor.com/modules.php?op=modload&name=Forum&file=viewtopic&topic=16199&forum=33
$15k is insane, sounds like hucksters are on the loose, which is not surprising
tell your dad to scan this site and learn for free from here
Unless Dad has a LOT of money you can afford to loose 15grand better than he can. You've got time to make it up. Sounds like dad is retired.
$15k is enough to do a couple of deals without NR and his/her mentors.
90% of the people who plunk down their money will still not have done a deal a year later.
Younger
I have been in the real estate investing game for a long time.
I also teach real estate investing and yes it can cost a student up to $8,000 and even more to spend time with me.
A lot of people have a habit of devaluing the cost of learning the business! Look at it this way you spend $15,000 one time to learn something that makes you money for a lifetime.
The value of ignorance is what? NOTHING!
Just make sure to check out all the details before investing in education.
I spend $1,000's for education every year and many think this is foolish, but I like my net worth and will continue to invest in my knowledge as it simply makes my net worth grow!
Many will tell you to learn for free, just read books and forums.
Most only retain 10% of what they read, but our learning is increased over 70% from what we see, what we do and what we hear.
Look I am not advocating a particular program, just making a statement not attached to a dollar amount.
I am not an advocate of dumping 1000's of dollars in to courses. I think you can get the information you need for free or at least a lot cheaper than 15K. Buy 5 or 6 $20 books. If Dad is not interested in reading a book it sounds like he wants someone to pour the info into his head and all of the sudden be a rich realestate guru. Bad news it dosen't happen that way. I studied REI for over a year before I bought a piece of RE. Now there may be a bunch of stuff I don't know but my RE pays all of my expenses and doesn't tie up all my time. I strongly dicourage 15k to learn REI (I didn't spend a dime) there are great courses out there for a lot less than that.
Good luck
Josh
jpchapboy
You make a good point, but let's consider you spent 1 year in your studies before investing in real estate and you should be commended for the self discipline to do this.
Do consider the value of time and money. I year of studies -vs- what you are worth per hour. Looks like you did spend $1,000's worth of time.
I had a student who spent 4 days in training and sold his car to do it and in less than a year he had a net worth of over $300,000 and bought, sold and held over 30 properties from being a renter and flat broke.
So I simply say if you have the time and discipline do a self study, but if one can invest a few thousand in education that you can make money with for a lifetime than go for it!
Here's a quick 2 cents from what I've seen. There's a seminar here in So California taught by Marshall Reddick. Now, I'm not advocating taking his school, but here's a quick low down on their offer. For $700 you get one-on-one training by actually going out and looking at properties. They hold your hand through the whole process: research, inspection, finance, closing. What they want first, however, is for you to qualify for a $50k loan. This is supposed to cover any closing costs or down payments you may need. They state that they will help you purchase(but not sell) your first three properties. Now, in my mind, this seems to be a better value than a $15k seminar that gives a bunch of theory, but no hands on. Again, without all the info, it's only my two cents.
Michael J.