Real Estate Investing Seminars a Yes or a Waste?

Question

Just finished reading Rich Dad, Poor Dad and Mr. Kiyosaki claims to go to many seminars.  I would be a naysayer to most seminars and wonder which if any have any clout.  How do you know the ones that are worth going to versus the gurus giving you what you already know?

Bill Gulley · Answer

While it's not really fair to be critical of something that I don't have personal knowledge of I still have opinions based on comments by others. Over the years, I've seen comments for and being critical of RDPD. Most of those who believe they benefited seem to be new to RE, those critical seem to have more experience. I also understand that it is not really educational so much as fictional. What I have seen of it, promotional aspects, I don't care for it. The forums are full of comments, so read there.

You have two basic seminar types, free that will always have a pitch, and paid, which will generally have a pitch. Free gets you in the door to be pitched at and there will hardly anything you can really walk out with. Paid may give you some skin on the bone, but usually there is no real meat, you can find as much information on your own, free, if you just take the time to study.

As to "small investors" 99.9% here on BP, there is no such thing as information being a value when thousands of dollars is the price tag. High prices imply value, they do not justify the value! There are no secrets in real estate!

Newbies need to understand that we have been using the basic strategies used today that were established in the 13th Century! Anything "new" is simply marketing hype, not real estate!

As the dollar amount goes up, the chances of you getting ripped off go up!

Most gurus are one trick pony trainers!  They do not teach real estate and they usually teach only those aspects that relate to the moment, to the transaction, not the underlying methodology that allows you to understand what is really going on. Like someone teaching you to play "Mary Had A Little Lamb" on a trumpet, then telling you that you can be a great trumpet player.

When I go to some free guru function, I'm not taking in the hype, I'm listening to the pitch and backtracking into their methods, their angle, their delivery, their style......simply to understand what you folks are exposed to. LOL, they aren't teaching me anything, but the newest marketing angles they use for their product.

Long time ago, I gave estate planning seminars with a stock broker and an attorney, I had the insurance side covered for the "team". The goal was to inform about the failure to plan, some simple things folks needed to do and to assist those requiring more assistance later on. Seminars are a marketing effort, not so much an educational endeavor as there is never enough time to educate in that format. In real estate, even a 5 days seminar won't cover the basics investors need to learn.

Going to seminars may allow you to meet others, to network, but know those there usually won't have much more knowledge than you do, that's why they are there!  Then, you could meet some leaches there too, those that have experience who "leach on" to newbies to help them and split deals, that's very common in real estate. "Leaching" is not a derogatory term, but a leach will leach onto other peoples deals, work those out instead of always finding their own deals. Nothing wrong with that so long as they don't keep you in the dark while they continue to leach off of you.

Learn real estate first, then you can spot the bad apples and will know to stay clear of trouble, time lost, losing money and possibly fines or worse. :)

Jessica Sowinski · Answer

Thanks all!  I appreciate the feedback and would love to hear some other legitimate ones.

Aaron Mercer · Answer

@Jessica Sowinski Remember Mr. Kiyosaki is in the business of selling education. It's in his best interest to encourage you to attend seminars, particularly those hosted by Rich Dad.

This isn't meant to discourage you from attending seminars, nor take away from Rich Dad Poor Dad. Seminars can be very helpful and allow you to network with local investors, so long as they aren't the 'guru' type at $20K. The Rich Dad book series is also invaluable and likely the starting point for most of the BP members. Both should simply be taken in context.

Judy Hargrove · Answer

I agree that there are a lot of scams out there.  But some are well worth the cost, you get what you pay for.  I went to an= free introductory seminar for Chad Chiniquy's Find Fund and Flip and was impressed.  I signed up for the three day class to follow.  It was wonderful, full or real points you need to know, and I am a Realtor of 36 years.  But that is a different ball game and there is a lot to learn.  I then went on and signed up for the next go round which gave me access to a mentor.  That turned out to be very valuable.  All in all O made the money to pay for my education on my firs deal.  Now I am equipped to start making a lot of money for myself!

John Aranton · Answer

I think each individual is different and depends on how you learn.  Some are just seeing REI as a get rich quick and think going to a specific guru or business model is the answer.  Once they realize how much work there really is its a turn off, then they fall of the wagon.  Education is the key and I try to attend anything and everything real estate which helps in my networking too.  Alot of FREE stuff out there.  :)  Continue to surround yourself with like minded people.  I have attended a great Mentor our here in Honolulu that has changed my mindset and ability.   The right one for me may be different than the right one for you, its about how you learn and your passion to get into it.  Good Luck & Aloha!

Adam Bartomeo · Answer

You HAVE to find the right ones. I have been to good, great and scam seminars. A rule of thumb is you get what you pay for. Every free seminar that I have been to has been a scam or high pressure sales. Everyone that I have paid for has been legitimate, some better then others, and some not so good.

You have to educate yourself and network with like minded people. Seminars are a way to do both.