Am I being sold snake oil?

[Cory Lucas]

So I met with a gentleman yesterday who is an Executive and Business Coach. I sought him out after attending a local REIA meetup. He was of course incredibly convincing, has mastermind meetups, and seemed very genuine, but at the same time seems to be a very good salesman. I can be very vulnerable and realize this in myself. This is the first time I've ever sought out services like this. To attend his mastermind and get access to those things he offers he said it was $2,000 upfront then $747/month.

Seems expensive, but for those that have done things like this before or done courses like that is this reasonable?

[Cory Lucas]

@Matt Buroni very true and good points. Thanks for chiming in

[Account Closed]

Its not about real estate, its about you. Most executive coaches hired by big companies get paid big bucks to work with top executives. Its about knowing yourself, how you think, what are your blind spots, how to be more effective etc. Its more like business therapy. This is different from your average real estate "mentor".

[Cory Lucas]

@Anish Tolia and I agree with this and doing doubt the value. Unfortunately given my present situation it’s a lot of money, so I just need to decide if it’s a road I plan to go down and if so I just have to figure out how to afford it is all. Thanks for chiming in

[James NA]

There are VERY FEW DEALS AVAILABLE RIGHT NOW….

There is inventory for sale…but

NOT…..Properties that can be acquired that;
1) Will have minimum 80% equity vs ARV…after the ALL IN investment ( unless the cash down is way out of balance )
2) CASH FLOW TODAY enough to cover all costs PLUS RESERVES and return all cash out of pocket in a reasonable time period.
3) You could sell TOMORROW if you needed to and not lose any money
4) Dont include rosey hopes of appreciation to cover negative equity 

Al last ALL… of the current wholesale deals are just trashy retail deals. And most of the value in the opportunities has been scaled off by all of the other players.

Ok I’m gambling on the other side…. I have an ever growing war chest.

I “ could” buy a nicer white collar 3/2/2 for cash with my Roth now…. But I’m waiting… 

There’s nothing to gain right now and a lot to lose. ( other than heartburn hoping that appreciation makes a straight up GAMBLE look like an investment)

But ..OK….”IF”…. The markets regain sanity… I will be able to two properties to rehab with cash.. and have cash reserves… and equity…and cash flow.

Possibly from the people who bought from the snake oil guy.

I don’t mean to sound rude…. But even the REIAs… are DROWNING in snake oil.