Is there ANY value to "guru" seminars?

Question

I see that Tarek and Christina's seminar is coming to my town. I know they aren't there, I know it's just a way to get you to buy a $2k course and then even pricier courses...I have no intention of buying anything. My question is, are these things worth going to for networking purposes? Are there vendor booths set up? Will I meet professionals from banks and real estate agencies, or is it literally a room that you're locked in for an hour?

Jay Hinrichs · Answer

@Rhonda Shrum  generally speaking paid training is what it is.. its up to the individual to get out of it what they can or need.

there are many who owe there careers to everyone of the GURUs  and there are many who buy the programs and do nothing with it ( majority of people).. and yes Account Closed program.. its all just information that you can gather piece meal or pay to have some one put it in front of you.

The core issue and why people pay to do this is they want to get there fast and since they don't want to apprentice at it.. they think this jump starts them.. and with some it certainly does some of my top clients that I have been funding for years started with these companies... but then again my position is the one's that are success's would have succeeded NO matter how they went about it. there are just winners and there are those that just will never do anything In Real Estate whether they pay for the training , troll on sites like this  become an agent etc.. Just read any BP post that is 2 or more years old you will recognize only  very few.. all those other folks got interested but just went back to what they were doing.

If everyone who came on BP went to a guru seminar learned in the Library .. if the success rate was 100% there would be no real estate to own there would not be enough product to go around ..

Look at any sales oriented industry you have top people and you have those that can't do it.

There simply is not enough Real estate to be absorbed for all that dream about quiting their day job becaseu RE is some magic way to financial freedom and richs... LOL  its is for some but not the majority.

Ned Carey · Answer

@Justin Fox wrote

I'll give e testimony. I have been to  many dozens of courses boot camps, classes etc. I feel there is no better place to invest my money than in myself. I have spent over six figures doing just that.  I have learned a ton from these classes.

However I would make two points.

• One problem is you have no idea if the coach, instructor, etc is an y good until after you have paid you money. 
• Two; I spent most of that money as an ongoing educational expense.  It  was a portion of profits I made from real estate activities, not money paid in advance, hoping to make the money back.

David Dachtera · Answer

@Rhonda Shrum, et al,

I can see this is another thread taking a nasty turn, so let me say this, then I'll back off:

My group has a credit management / repair aspect of the program. 65+ percent of the applicants we get are unemployed (laid-off, mostly) with credit scores below 550. The reason they are looking for "quick" is because they have bills to pay and families to house, clothe and feed. Many of them are in foreclosure if not already living with anyone who will take them in, having been put out of their homes. 35% are looking to escape the rat race and about 5% are part of the 35% who actually have a dream which will drive them to success. (Yes - those are actual, gathered statistics!)

Yes, a lot of those who attend "guru" events and aren't already active in REI will not take action, and I DO know why: because, for what ever reason, the information they got didn't come together for them and lead them to the answers they are looking for - and they ARE looking for answers, make no mistake. I can sum it up this way: I have yet to see ANYthing which does not display this one fatal shortcoming - REAL big on the "what to do" and "why to do it", but they all fall flat on the "how to do it". The best answer most of them can give is, "just figure it out".

I have a problem with that the way people here on BP have a problem with me being an affiliate marketer.

For me, that's why having an investor community is so important: I can see what people do, and in the study groups we learn how they were able to do it. Nothing teaches like experience.

David Dachtera · Answer

@Rhonda Shrum,

My experience differs a bit from Nick's.

I've been to more guru events than I care to admit, but I usually meet experienced investors, contractors / trades people, even potential private lenders among those looking to "escape the rat race".

1. Most of them tell you up front: REI is a marathon, not a sprint. It's not "get rich quick". In fact, for the bulk of the attendees, it's not "get rich" at all. Most of them will fall flat until they learn how to get out of their own way.

2. Most of these events will have highly trained sales people - it's their job. Not sure how they are compensated, though.

3. I wouldn't go too much by the number of BP posts. For example, if Warren Buffet came here and started posting under pseudonym, the responses he would receive would be MOST entertaining. Review people's profiles before jumping to potentially invalid conclusions. Tenure / activity on BP is relatively meaningless.

In many cases, it really comes down to whether you place greater value on your time producing profits while learning from the mistakes of others or your time re-making those same mistakes when you could have avoided them by learning.

David Dachtera · Answer

@Rhonda Shrum,

For total newbies, those events can have some value. If nothing else, they can be "immersed" (drowned with a fire hose, really) in the lingo, the nature of the business, and a lot aspects of REI they might only encounter "on the path" otherwise. For those with limited exposure to REI, it's a chance to find how much one needs to learn.

Even if one only takes notes of the topics discussed and some highlighted bits of info, it can be an enlightening experience.

Most gurus change around $2,000 for a three-day "bootcamp" (upsell, really) and that education money could be much better spent.

I'm aware of a few education options which would provide a much better return on that kind of an investment (in one's self).

My $0.02...

Thomas S. · Answer

They are fun for those that will never pull the trigger on actually buying a property. It's a way for them to feel they are involved in fulfilling their dreams without actually doing anything productive.

Less than probably 10% of people will ever take direct action.

Nick Doria · Answer

@Rhonda Shrum

I would stay clear of them. While yes, you may find some people to network with more than likely at an event like that most won't know much more than you.  It really depends on the person since and this is a general statement " must feel like they need to be held accountable or have the structure in place to succeed". I think what most people are missing when they get started in real estate investing is really knowing "WHY" they're getting started and what they want to get out of it. When the WHY is clear it's much easier to find what you are looking for when talking to people and are able to attract like minded people.

Generally speaking from my experience because when I wanted to learn I did go to some of these presentations before I found out about biggerpockets.  Here is what was the most consistent with all of them and the same has been said by others on here:

1.) They prey on the fact that the people in the room aren't happy with their current job and paint the picture of overnight success

2.) they use high pressure tactics that make you feel like you're missing out and making a big mistake if you pass up on the training since "your investing in yourself and your future"

3.) they also have others that are in the program attend as well to help hype up the presentation. there is also people who post on BiggerPockets that support the training that only respond to people saying they had a bad experience with a company. best way to know if they are a scam is by looking at their profile and if they have less then 20 posts normally it BS.

With all of that said though I do believe the classes can provide some value to a person if they don't like doing research and gathering information on their own.

For me I like the process of doing the research so they classes would be a terrible idea for me. If you're looking to network try and see if there is a BP meetup in your local area since you will meet people who are active and doing deals. I have made some great connections from the meetups I have gone to.

Rhonda Shrum · Answer

I would never spend any money on them, I do know that part is a rip-off. I was more wondering if it was a place to do any networking. Doesn't sounds like it at all, though! Thank you all for the responses.

Is there ANY value to "guru" seminars?

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