Do you recommend real estate seminars?

Question

Hi, I listen to a Bigger Pockets Podcast every day. I just started learning more about real estate and these podcasts set me on fire ( not literally). I listen to one podcast a day, then I will play it in the morning when I am working on my business, then play it again at the gym, and then play it as I go to sleep, which is probably why I have trouble sleeping and find myself reading at 3 a.m. Anyway does anyone suggest going to real estate seminars and if so how do I find one in my area or just a good one in general that I can fly to?

Matt Skinner · Answer

I may have a different take on this topic than others.

First of all, not all seminars are created equal, however I have been a full time real estate investor for 14 years and I still go to real estate seminars and clubs.

#1.  If you learn one thing it's usually worth the price of admission.

#2.  Yes the seminar host probably will have people selling different products or services at the event and guess what, you may want to buy some of them.  A good seminar host will have outside speaker/salesmen come in with complimentary products or services to what they are teaching about.  For an example, if the seminar is about flipping pre-foreclosures the speaker BETTER bring in someone to sell pre-foreclosure lists to you.

#3.  I have always met other investors (like-minded individuals) who I have developed long term friendships with and have done deals with them.  Seminars are the best place to go to meet people that interested in the same thing you are interested in.  You never know, you could meet your next mentor at a seminar; or your next assistant.  Either way, worth the price of admission.

#4.  I think you're going to like number four.  A few years ago I invested $27,000 to attend all of a certain "guru's" seminars on a particular topic that I wanted to master.   For this I got to attend unlimited number of his events and got to be in his 1 on 1 coaching program.  The seminars were awesome.  The coaching program was armature.  But guess what:  I raised almost $2,000,000 from the other attendees because they were there because they were interested in getting involved financially with the types of deals I was learning to do better.  They were the best investors because they had the same training as I did, they knew immediately when I had a good deal and knew how to underwrite it themselves and how to review the due diligence.

So is going to seminars a good idea?  If you are willing and able to take action on what you learn then I can't see any reason why you wouldn't.

Oh, by the way, if you think seminar guys make a lot of money from their events, maybe after you master your craft, and after you watch the guy in the front of the room clean house teaching what he knows like the back of his hand, then maybe you get into the seminar business too.

People Helping People.

Real People.  Real Returns.

Aaron Ramm · Answer

I have spent quite a bit of money on education.  You need to take advantage of the networking opportunities and meet people.  @Matt Skinner is right on with his reply!

I would look for local classes.

I would joint any local real estate clubs you can find.

Try meetup.com to find a few.

When signing up for a class or seminar, please be sure what you're taking is a strategy you can use in your local area.

I took foreclosures training from Rich Dad education.  The class focused on pre-foreclosure negotiation and negotiating short sales.  I did not know in Washington state the anti-equity skimming laws passed in 2008 made 90% of what I paid to learn worthless to me because I couldn't practice these methods in Washington.  Years in the future, if I remember how to use the training when I start dealing out of state, I can use some of it but starting out, I'm focusing on my local area.

The best way to find out what works in your area is to join those local groups so you can pick the brains of people doing investing in local to you.....and post up your questions like you're doing right now on BP.  AMAZING help here!!

John Arendsen · Answer

Eva Salas

"Mine sucked! Drunk, off-topic, expensive with even more up selling...deplorably manipulative!"

Can't tell you how many seminars end up this way. There's good seminars and then there's those not so good ones. You have to exercise as much due diligence choosing viable mentors as you do purchasing your first investment.

The very first principal they teach you when you are studying for your RE license is "REAL ESTATE IS LOCAL". If you go to a seminar and some so called guru is painting the entire industry with one broad brush that's the first signal to bail.

What's happening in Cali definitely isn't happening in Fla! I'm not all that impressed with siminars as they tend to be filled with a lot of hype and acute hysteria. The truly best way to get plugged into what's happening is to GO LOCAL.

Account Closed · Answer

Thanks guys. This site is awesome, I can't believe how many people help each other.

Jeremy Prunty · Answer

@Matt Skinner Great points.  Very well said & very true.

Antonio Coleman · Answer

Account Closed Seminars are great when first starting out trying to learn this stuff. But if you already know some parts of RE then don't bother. They'er only there to sell, sell and did I mention sell.

So learn this stuff on your own if you can, and stick listing to those podcasts my friends. I'm working on an exclusive "Real Estate Marketing" podcast as I write. Looking to spread a little marketing to those who are willing to take action. In the mean time here is some of my BP RE marketing blog posts.

http://www.biggerpockets.com/renewsblog/author/antoniocoleman/

Tyron McDaniel · Answer

A TON of great posts here...

I ALWAYS recommend new investors start with their local REIA club and ideally invest in local mentorship & coaching which allows you to now have someone local who you can ask questions etc.

Eva Salas · Answer

Thanks @Matt Skinner for taking the time on your opinion. Mine is different, as I have met so many knowledgeable ppl on BP in the short time I've been active. Even got together with a local and will be doing more of that. As well as going to a meet up with local BP members i met here

I have a question in this though...are we not allowed to mention names of gurus, whether we liked or not what they imparted during their seminar?

Mine sucked! Drunk, off-topic, expensive with even more up selling...deplorably manipulative!

Melodee Lucido · Answer

@Matt Skinner

that is one of the best posts on commitment to success, networking and what's possible I have read. You know I have heard the phase "heart lead entrepreneurs" (yeah, I know it sounds corny) and you definitely come across this way. Your videos are sincere and honest. This is so refreshing in this industry.

Thank you for your contributions here on BP.

Antwon Austin · Answer

all these things are fine and dandy great forms of marketing. seminars, SEO,direct mail, ppc etc. but how many deals do you plan on doing per month

Seminars are an awesome form of marketing for your local market A great way to find out who the players are in your local market...

definitely wouldn't recommend flying all over the country for seminars though

Do you recommend real estate seminars?

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