Has anyone actually had success with any gurus?

Question

There are way too many RE Gurus, both "individuals," and "companies," to even attempt to list them all.

I've tried my fair share, and haven't come across one successful guru that's been able to actually help. My experiences:

- They offer teaser items that are "affordable," but then, to get the "real help," you need to be on the hook for usually +5 figures. That's not something I'm willing to risk. I may as well go try my luck in the casinos, and blow it there. I say this, because I did try a couple of 4-digit programs, and they were as much garbage as the "affordable teasers."

- They offer a lot of vague, and general advice. Usually, I find the info on sites like BP, an REI group, or such. Of course "I don't know what I don't know..." but that doesn't help with the deals.

- They claim they have resources to provide you with the funding to do the deal, and don't. Or, they have what amounts to their own transactional funding, and would take a sizable amount of the fee, charge a "monthly membership fee," and months pass, with no deal.

- They have a "give me the deal." You provide things that meet their criteria, but they hedge on it. I had one "end buyer" that didn't want a wholesale deal, because it had a swimming pool, which they didn't want, due to the insurance hassle...and they never mentioned that there were insurance risks they don't want. You would think a legit buyer would let you know something that vital, in advance.

So, I've read the stories (and experienced a few) of guru failures. I'd like to hear from anyone who has actually had success *and made money* from a "guru" they worked with.

Charles Carillo · Answer

@Eddie Starr

Gurus and coaching programs have been growing exponentially in the last few years and it seems like every real estate investor is now launching their own program. It starts with an inexpensive conference and then turns into $25k.

I would #1 verify the person that is teaching you directly is actually doing what they are teaching. Second, it depends on your experience, free time and financial situation. If you have lots of free time, you probably can educate yourself via the internet, YouTube, podcasts etc. But what happens when you have a unique question or problem? If you have money and little time (honestly, you should be passive investing in syndications) maybe a mentor that walks you through the steps in 30 minute intervals is the best way.

The problem I found is that if you want to scale your business, you need to join Masterminds. A hotel seminar is not going to do it.

Ronan Donnelly · Answer

@Eddie Starr, I think that almost all of the knowledge that you need to be successful is available via the books, podcasts and forum post available on BP. What guru's sell is the allure that there is some easy way to achieve your goals, if you can just cough up significant sums of $$$. My recommendation would be to identify what problem you are aiming to solve with a guru and once you have done that you can likely come up with alternative, free, means to achieve the same. Some examples are:

1) Lack of knowledge - all the info you need is available on this site or in the many great books available

2) Lack of experience - partner with someone to get experience, there is likely some value that you can bring to any deal whether it's skills, money or time

3) Lack of connections - seek out partners on BP, broadcast what you are trying to achieve, join local REI groups

You get the point, guru's make it look like it is all easy and automatic. In reality it's about taking action, learning from your mistakes and finding partners to complement your owns skills or gaps.

Good luck!

Eddie Starr · Answer

@Shiloh Lundahl:

Finally! Someone who actually answered the question I posted: Has anyone actually had success with any gurus?

There are tons of posts here on BP about people who haven't had success with gurus. I've seen a few of those gurus here, respond, as well, and various long time BPers respond to them with their own beliefs in the guru's provisions.

So, what program did you go through? Is it through something local--REIA, MeetUp, or such--or something else?

Do they provide, or have in their network, lenders?

Do they have any 3rd/neutral party reviews/accreditations?

Anything else to share about this network?

Eddie Starr · Answer

If I do all the grunt work, and they decide that they don't want the deal, even though it matches what they say their criteria is, then they, at best, aren't communicating. When one can go on the web, and find pages of people complaining about them, saying the same thing, it's not the students, it's the "teachers." If a "guru" is "teaching something, and numerous people have had agents, contractors, and lawyers tell them it's illegal, then no, it's not the students. May want to re-read what I posted.

I find it hilarious that the ones who want to compare the college to guru thing, tend to be (but not always) are promoters of guru programs, that lots go into the above, where the gurus don't deliver, are never available, don't have actual lenders (I had one, and the phone number of the lender went to an employment agency)! You're wanting to compare something that's been around for centuries, that has verifiable track records, government regulations (if you're going to state universities, as opposed to for-profit diploma mills), and thousands of people that can say "I got my degree, and have a job," or "I got a degree, and still with spit." I have yet to actually have anyone actually show details that they've worked with gurus who have made them a success, and I'm not alone.

Now, that's not to say there aren't legitimate *mentors.* People in professions or entrepreneurial environments, who will actually teach. Those are the ones who will one-on-one. If there's a question, they're there with either an answer, or "I don't know the answer, but I'll get an answer for you asap."

Gurus, even if they don't claim to be, are those that sell products (maybe services, if you're lucky), and then that's it. They limit what all they provide you, and if you want more, they charge more. They have no true interest in their students, and are only interested in making money off their garbage.

Shiloh Lundahl · Answer

@Eddie Starr With a name like yours, I’d imagine you having your own education program. It’s a name that seems like it should be famous.

Anyway, yes, I have made a lot of money in real Estate after going through a “guru” education program. My net worth has quadrupled into the 7 figures from the things I learned and the connections I made from the program.

Todd Dexheimer · Answer

You need to do the work necessary and have the mindset and risk appetite. The person cannot do it for you or make you successful. It sounds like you are expecting them to find you the deals and money.

I find it funny that people are willing to spend 5 and 6 figures on college, yet scoff at a $10-30k mentorship program, that if followed and applied, could help them to become a multi-millionaire.

You go to college, graduate and start making money at an entry level. Eventually you get a promotion, then another and another. People take a course or hire a coach and expect to become a millionaire instantly. Now, some gurus are selling that "get rich quick story." Those are the ones to avoid. This is a long journey, with many bumps along the way, but with persistent and consistent effort, you can achieve some amazing things.

John Fortes · Answer

I think a mentor would help anyone if you find the proper one. Some mentorships come in the form of podcasts, books and online research. Other's come in the form of a person you are putting in sweat equity with. Lastly there's the paid mentorship programs. I cannot speak for anyone but it's a personal decision at the end of the deal. Just do your research, make sure they are active and practicing what they preach and how beneficial would it be to you growing and learning.

Happy investing!

Has anyone actually had success with any gurus?

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