The 10 Wrong Assumptions made by People purchasing real estate mentorship programs

[Don Konipol]

The 10 Wrong Assumptions made by People purchasing real estate mentorship programs

1. That being part of a group of people all chasing the same deals, in the same area, trying to use the same strategies and techniques somehow increases chances for success
2. That the mentor teaching the course and providing “mentorship” was actually successful at what he’s teaching
3. That all the experienced investors warning about the unrealistic expectations being promoted are somehow just jealous, trolls, or trying to kill someone’s dream
4. That 4 years of education, twenty years of experience, and a network of industry contacts built up over a career can be replaced by a 3 day “boot camp” and a 15 minute weekly call to a professional promoter or one of his soldiers reading answers from prepared scripts
5. That one does not require knowledge of real estate “principles’, real estate law, or real estate finance in order to succeed at real estate investment
6. That the income produced by utilizing the particular strategies being promoted by the guru is going to be able to replace their job income
7. That “passive” income from being a residential landlord is really passive
8. That one can be a successful real estate investor with little or no capital, credit, or experience
9. That wholesaling, flipping, etc. is investing.
10. That spending $30,000 or more for dubious information available for free is a good use of funds; especially when you put it on your credit card at 18% interest.

[Michael S.]

I am going to add an important one as well.

11.  That positive reviews of mentorship programs posted on Bigger Pockets by individuals with less than 10 total posts and/or less than 6 months on Bigger Pockets are legit reviews.  Nope.