can you make more money as a 'guru'?

Question

Through my marketing to find cash buyers/investors I have found that many don't have a complete knowledge of re investing but want to get started... however I hav found that most becokme tire kickers because of cold feet once creative methods are introduced ie. Assignment fees, double closings etc.

Is the market for investing books and information better suited for an experienced investor? I would like no more than to help peopl make money especially if I would have to hold their hand through a deal anyway. After reading so much and buying products from 'gurus' I have found most just have basic information and a deal helpline..  nothing new under the sun... Are there any 'gurus' out there that can give me some insight on publishing... I would create a quality program that would use the resources available to me inludng my experience, but only if it is lucrative... I figure if I use my time teaching a new investor some tricks only to have them back out of a deal I should be compensated for info.

Is there a brave investor/guru/coach that is willing to share the comparison of income seling products versus investing?

I apologize if this is the wrong forum for such a post, if it is wrong please direct me to the correct forum instead of just deleting he post,  thanks.

Peter Giardini · Answer

Lynn,

Great question.

The short answer is yes... maybe!

As a real estate investing coach with a strong track record of success with my clients, I can share a few of my observations...

1.  Most gurus build their business with the notion of selling their products or services to as many investors as possible.  This is a great way to generate lots of cash (it also costs a ton to find and sell those clients... I will explain below).  The problem is that you need to sell lots of stuff, have very little interaction with your customers and most of them will fade away or just continue buying (from others) because they think the next course is what they need to succeed.  Which brings me to point 2...

2.  To really assist investors to succeed in this business you should be spending more time as a psychologist then a real estate expert.  In fact the real estate part is easy.  Getting investors to overcome their conditioning and take actions they inherently fear is the real trick... and if whatever program you set up doesn''t address this issue... you will experience a constant stream of customers paying money and not buying real estate... and the reputation that naturally comes from that outcome.

3.  Selling courses is expensive!  Your challenge is to be heard above all of the clutter and the real estate investing space seems to have more self-procliamed "experts" then almost all others.  And... to distinguish you and your products requires large lists, extensive affiliation relationships, much travel (selling to the RE Associations), and no guarantees of success.

4.  You must choose if you want to help everyone or just a select few.  I found out quickly that focusing on the select few vastly improved the experience and success for my clients.  My business is entirely word of mouth at this time.

5.  I would recommend, as others have as well, don't just focus on teaching.  Your real estate knowledge and skills will atrophy... fast.  Continue doing deals.  Stay active in every aspect of real estate... because with the market shifting almost daily you can never stay current if you don't stay involved.

I hope this post is helpful?

Pete

Rob Gillespie · Answer

Lynn,
YOu are getting some great advice from everyone on this question. I have been an investor for over 15 years and have done hundreds of deals, but I just started coaching for profit in the past year. 
I do not consider myself a "Guru". I am an expert in my field of investing and can teach others, but it is a completely different business than real estate investing. You are not only teaching, you have to be able to market yourself as an athority and charge enough to be profitable, but not price yourself out of the market.
I personally take the approach that my coaching is a secondary income and my primary income is real estate. I practically give my services away because I use the same materials that I use to train my team in my office. 
I enjoy doin it because I enjoy talkin shop with others and helping people when they are down on their luck. 
I have a lot of success with my students, but unfortunately I do not make enough off of my coaching to buy a new Ferrarri! LOL! My rewards in life still come from my real estate. Good luck to ya! I hope it works out. :mrgreen:

P.S. Just dont get cought up in that crap that those crooks do charging 15k for a freakin bus trip! Be fair with people and dont put them in a bad situation just so you profit. Make sure they get value.

I like to have my folks makin money in the first 6 weeks!

Justin S. · Answer

Peter

Thanks for being the brave one!  I hope others share as well.  I know several people on here sell services and programs.

James Hamling · Answer

Bill 
    "I could write a book, I'm sure, about RE gurus and the scam/hype involved, but I won't."

No joke, I think you should! That is the one R.E.I. book I have NOT seen yet, and I would buy it!

Jason S.
   Organize...... I think your on to something there. So... who is gonna play Hoffa??????

Jason S. · Answer

There's a lot of money in the guru biz.  You can do both you know, be the guru and actually do deals.

I remember reading one guru's letter to the head of a REI Club - the letter said, give me an hour in front of your group and you will make $100,000 within the next two weeks from the products sold.  He had a whole tracking system and everything.

Come to think of it, this means there is a lot of money in the REI Association Biz too - take that to heart.  You can teach, you can do, or you can organize - or maybe do all 3 - your choice.

Bill Gulley · Answer

At least this was a more honest approach to ask.

I could write a book, I'm sure, about RE gurus and the scam/hype involved, but I won't.

Being able to make money in RE does not make one an expert in RE! That's a big problem with all this stuff about---let me show you how I did it-----

1. You are not them or they are not you,

2. What ever system you have it does not work every time, in every place, in all markets!

Anyone does not need an indepth understanding of a particular subject to teach that subject to those who know nothing at all.
That's where the deceit begins, that what they have to teach is unique or different when it is absolutely not new. I have yet to see anything done in residential and commercial RE that has not been done before in some way or fashion.

My next suggestion is for those who want to teach, have you ever taught anything before? Are you really a teacher type that identifies problems in communicating with a student, conveying information and actually teaching, or do you want to just be a public speaker? There is a big difference.

While governmental regulations have changed and some new approaches, like short sales, have come about, don't think that the concept of dumping properties by lenders is a new idea or that there is any trick to it.....not!

I have no problem with those who are actually "qualified" to teach a subject to do so, but if you made a hundred millions in RE, that still doesn't make you a great RE instructor.

And, as they always say, those who can't do, teach! (to a point, but if there is a youngster who never had the opportunity to "do" and claims they did.....well, think about it!)

Good luck

Lynn Dickerson · Answer

Thanks for your reply Bill, I agree with you on just about every point. I actually have taught middle school for 4 yrs(and was good at it) and I know that there are no new systems or programs but there but, are still those who are uninformed as to the basics of investing. I wouldn't try to mislead people in saying they'll make millions in six months or that nobody in their market is using a certain technique(like most scams out there state). I would teach he basics that every investor would need to know to feel confident about investing... I realize that most of what sells is hype but does that mean only those that mislead will make money in the re info market? Considering qualifications.. I don't think I'm nearly as qualified as many investors on this site, however I do know that most products I've come in contact with lately are nothing new or innovative, concepts that I have been studiying for years and most don't give you the full story.. I learned early on that most books only give you a snapshot. So what would make me any different if I could pass along the info I know?

can you make more money as a 'guru'?

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