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Should You Pay for an Expensive Real Estate Education Course?


No doubt you’ve seen expensive coaching
and training programs advertise on late-night television or internet banner
ads. Real estate guru is claiming to be able to teach you become filthy rich to
real estate investing. Is that real? Can you really learn from these guys? Well my name is Brandon Turner, the
author of the book on rental property investing. Today, I want to talk about the
Guru trap. So, let’s get to it! Alright, so the first thing I want to
explain is how the industry works. It just kind of coaching and training.
Typically involves several layers like an onion as you peel them away the
education gets more and more spendy. So let me share the most common layers
you’ll be able to recognize them in the future. First of all, the free class. You might
have come across an advertising on the radio or on television or in your local
newspaper or your favorite websites something like free real estate seminar
at a local hotel or conference center. The marketing teams behind these gurus spend
a ton of money to drive traffic to these free seminars hoping to pack the room
with “wanna be” real estate investors then they get him in there and step number
two comes the hype. In the seminars the real estate gurus create massive hype
around what real estate can do showing photos of their properties citing
impressive numbers and how much profit they make and telling how easy it really
is. They tell stories about past students
having massed fortunes from investing and he pushes all the right pane points about how
hard being broke is and you’re not taking care of your family good enough
and you’re missing out on luxuries in life then he pitches hard for you to attend the
weekend boot camp usually for a small but not that significant chunk of money
maybe two to three four five hundred dollars and then after the pitch
he’ll encourage the attendees to run to the back of the room and sign up
quickly and many people do. Now, we get the step number three at the boot camp.
At the boot camp, the Guru goes into more details about what real estate can do
shares more numbers related to what is done and we’ll probably spend this
amount of time showing you a high-level overview of the kind of investing that
he’s counting as the best way to invest in real estate. They may even talk about numerous
different strategies people used to build wealth in real estate. Some gurus
are even known to spend a significant amount of time teaching those present
how to negotiate and as a test, they encourage their attendees to call their
credit card companies and get their credit card limits raised significantly.
However, the Guru’s only goal is to get you to sign up to the next level
training which is typically $20,000- 50,000. More of an in-depth coaching program
with some live events may be built in. Now, I have no
doubt that many though not all of these real estate gurus have a good
information to share. I totally believe that. However, the
problem lies not so much in “what” as the “how”. These people are expert marketers
and manipulators and they know how to touch all the right pane points and cause
your emotions to lead you to make an expensive purchase. Their pitch logically
makes a lot of sense because with just a twenty-five-thousand-dollar investment
in your future you’ll be making much more than that
from real estate you’ll learn everything. So what’s 25,000 50,000 100,000 when
you’ll be making millions of dollars investing in real estate So the problem in my opinion is two-fold.
First, I believe that the vast majority of those who attend these events will
never actually use the information presented and second, the information
people learn from those programs could easily be learned elsewhere for free such as on biggerpockets.com. So does
coaching work? Sure, for some people. I totally believe
that that said I believe anybody who can succeed because they took some expensive
guru training program could have also succeeded without that program.
In fact, it’s not the program that makes you successful. It’s you that make yourself successful.
Real estate programs offer education motivation and accountability which can
all be obtained for much lower cost than what the salesman is charging. Rather
than helping most people get ahead, these programs simply plunge many Americans
into further debt and despair when they end up spending their life savings and
maxing their credit cards on coaching for an activity which they ultimately
are not gonna be able to succeed at. That said, do programs like these have a place? Sure, I believe so. Successful coaching
has been demonstrated in almost every industry there is as far as getting
people motivated moving towards their goals. I have a lot of coaches
for different areas of my life. However, people who get the larger benefit from
coaching are the ones who have already found some success already in what
they’re doing. They’ve proven themselves to be someone who take action, is a
self-starter, is willing to work hard and most importantly they have money to
spend on those coaches and it’s not coming from a credit card. So, to
summarize should you pay for one of these courses or expensive coaching and
training programs may have a place but they’re probably in my opinion not
appropriate for you investors. Real estate gurus have a
terrible reputation for taking gullible low-income people pitching them hard to
pay for overpriced training that they’re not ready for that will only put them in
a worse situation in the end these gurus provide no more than an organized
version of what in interested individuals can already get on their
loan education accountability and motivation. Now, if you want to save your
money and get all these benefits get active in biggerpockets and use our
information for your next big investment. It’s not gonna cost you anything. Now, before we get out of here i want to
ask you three small favors. Number one call your mom she hasn’t heard from you
in forever Number two, could you click the thumbs up
sign on this video and let the world know that there’s a little bit of value
here in this video number three do me a favor and share this video on
your facebook wall and save one of your family or friends from falling victim to
the hype behind a guru trap and with that let’s get out of here for bigger
pockets . com my name is Brandon signing off

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