Beware of the Real Estate Guru Trap: What to Look for & How to Protect Yourself

[Joshua Dorkin]

Blogger Andrew MacDonald, yesterday posted an article on the BiggerPockets Blog that is an absolute MUST READ for anyone considering spending their money on a real estate guru.

The article breaks down both the typical sales flow for these gurus (how the hook you) and 4 key tips for how to avoid getting suckered trapped.

Check out the article and please leave some feedback!

The Real Estate Guru Scam - How It Works & 4 Ways to Avoid It

[James Vermillion]

Aaron, I think when trying to find someone to help get experience on your first deal, look for someone who is not selling their ideas, but employing them. What I mean by that is to try and find someone in your local area who has the experience and knowledge you are looking for. Talk to them and see if there is any way you can work with/for them, or if they are willing to sit and talk with you every once in a while and answer some questions you have about the business.

Not only will you spend a lot less money on education (and have more to put towards actual deals) you will get local answers, as the investing environment is different in every city (and different parts of cities).

Also, there is enough free information out there that I really do not see much of a reason to purchase education materials. If you can find a mentor and continue to utilize the hundreds or free articles, forum posts, blogs, etc, you will gain the knowledge and experience you need to become a successful real estate investor. Remember...gurus are salespeople; they are interested in you purchasing their product regardless of whether or not is in your best interest (at least most of them).