All Forum Posts by: Spencer Cornelia

Rent by room / house hacking / co-living should deliver significantly higher cash flow than a traditional rental.  in my experience doing this in Vegas - the gross rental income is about 50% higher.  i have much higher expenses and more headaches of course, but cash flow is higher.

most major tier 1 or tier 2 cities should have significant enough rental demand to be able to implement this strategy pretty successfully.  You better be prepared to handle the management though..

 @Greg R. check out a YouTube channel named "Growing Up in Scientology".  He's made a few videos breaking down what Cardone is doing with Cardone Capital.

@Shiloh Lundahl I didn't realize you offer coaching.  I'm very much pro-guru and pro-education/mentorship/coaching.  I'm in the works of building out a website focused solely on promoting the best "gurus" in the numerous niches on social media - real estate, ecom, etc. (the goal is having this live within the next 30 days)

I understand why the belief is that I hate education or bash successful people or whatever criticism gets thrown my way centered around being a critic of "gurus".  I focus mostly on the bad apples in the bunch.

What's funny is you bringing the Kris Krohn video to light.  I'm way more in the "bash" people category now than back then lmao.  I was tame compared to where I'm at today.  With any form of entertainment, it's going to be enjoyable for a specific audience and not enjoyable for others.  I'm cool if people don't like my content.

But if I do receive criticism, I generally like it to be deeper than "you just bash people".

I think everyone can reach their goals faster with a coach, which is why I'm so pro-guru.  I have a feeling a lot of my audience doesn't realize my stance is so pro-guru lol.

The data has shown the types of videos that perform better and that's calling out the scumbags.  My initial intent was to have an even split of bashing the bad apples and promoting the good, but the numbers don't lie.  It's equivalent to spending 40 hours a week analyzing single family deals that will make you $10,000 a year in income versus spending 40 hours a week analyzing commercial deals that will make you $100,000 a year in income.

I don't really care about the college debate.  That's a 1,000 hour conversation that involves many different topics and sub-topics.  I did graduate college in sport management.  On paper, no causation to what I'm doing today.  The reason why this conversation is so nuanced is college also provided many other INTANGIBLE benefits that I do think help me today.. So not sure how we evaluate it.  I think you both can argue great points and never reach a resolution or middle ground.  My interpretation is that you're both right.

As for net worth, I'm comfortable sharing this.  I'm somewhere around $420k in equity between the 3 properties I own.  I'm sitting on $110k in cash and I have around $50k-$60k in cash coming my way soon (money owed from various sources).  I just purchased equity in a small company.  And my YouTube channel is worth something.  If we value my YouTube channel as if I do NOT stop my current pace, then I would be a millionaire (I've seen rough estimates of 3x yearly income as evaluation of a channel).  But I wouldn't consider myself a millionaire just yet.

@Shiloh Lundahl I'll add the two complaints here.  They're super long and not anticipating people reading them, but these are examples of what I refer to when I claim the real estate seminar business model is super scammy.  The videos I make cover these two specifically.

FTC vs. Zurixx LLC: https://www.ftc.gov/system/fil...

FTC vs. Nudge LLC: https://www.ftc.gov/system/fil...

I am NOT referring to legit seminars when referring to the "real estate seminar" business model that is scammy.

"So what I would hope that you would get out of my posts in this thread is that not all real estate education is bad or a scam. And that there are people who really do benefit from those programs. People like me. And I’m not the only one."  I'm a huge fan of real estate education.  There's a major difference between the scammy seminars and the seminars hosted as educational events.

The seminars I'm referring to are the ones that constantly upsell people by using crazy manipulative tactics.  The consumers are asked to raise credit limits and borrow money just to pay for "exclusive" access to their mentorship.  The cost varies because they charge different amounts based on what the consumer can afford.  The entire scheme is setup to optimize this - via having a specific mentor dedicated to the client analyzing the max amount they can afford and then sending this message to the sales team to create a sales price.

These are the free weekend seminars that are entirely built to influence people into the $1k weekend seminar. That weekend seminar gives very basic info to make you feel good, but access to the actual secrets can be found in our mentorship program that costs up to $40k. That business model is insanely scammy and I will not back down from my absolute distaste for it. If anyone is curious, read the Nudge LLC or Zurixx LLC complaints. It was so bad the FTC shut it down lmao. The FTC only goes after the absolute worst business schemes.

It's entirely possible we've been arguing on two different wavelengths.  Legitimate seminars exist and I've NEVER NEVER NEVER spoken ill or "bashed" legitimate education or gurus.  I only speak negatively about the worst.  (Regarding Kris Krohn - that's 2.5 years ago and I've pivoted multiple times since.  That's an entirely different content strategy than what I employ today)

Yes, you are correct.  Technically, I should ask every human who attended a seminar and evaluate their life 5 years later in order to reach a conclusion.  However, I think we've been speaking about two different things.  I'm not talking about seminars that are built around educating students.  I'm referring to the scammiest business model in existence where very little education exists.  The seminars that only focus on upsells into a $40k mentorship.  If the business model focused on success of the customers, their sales would plummet.  The business model can only exist by squeezing every last penny out of their customers.  (see Zurixx and Nudge complaints / Rich Dad former biz model / Trump University).

I'm reasonably certain I've never made the claim that x% or "Everyone" fails at these seminars.  I speak about why the business model is scammy.

I will never deny that sensational gets more views.  I'm in the entertainment business haha.  This is also because social media is overrun with fake gurus, fraud, and people taking advantage of others.  People are tired of seeing the fake BS and there's only a handful of people willing to call it out.

Just handpicked one of your mentions to search - Brad Sumrock - after typing this out.  These aren't the seminars I've spoken about.  My guess is these are really good, high quality seminars.

I take fault for this argument.  I should have asked questions to make sure we were speaking about the same seminars.  I am 100% right in my argument about the seminars I speak about.  And you are 100% right about the seminars you speak about.

I'm fairly certain the seminar model I've been referring to is no longer in existence because of how insanely scammy it is/was.  If it is, this debate sparked an interest in attending one, for a video.  That would make for a BANGER series.

@Shiloh Lundahl I have taken statistics.  I receive tens of thousands of views per video and have never had someone reach out to tell me I'm wrong about anything (within this context.  When I have, I have taken videos down or met up with the person and allowed them to speak about it).

1 out of 10-50,000 people.  Surely if I was wrong, I would have heard from more than one person.  You also never said I was wrong about anything.  You simply just said you wanted to share your experience and to call you.  Even after typing 3,000 word responses, you haven't stated anything I've been incorrect on.

I just rewatched the Kris Krohn video.  It's interesting that your interpretation is that I "bashed" him.  Considering I complimented him numerous times throughout the video and very fairly critiqued other things, I'm shocked someone can watch that video and think I bashed him.  You make it out like I ruined some guy's reputation lol.  I refer to Bigger Pockets posts to discuss his real estate stuff, as well as utilized someone as a source who went through his program or fund.

That's also a video from 2.5 years ago.  In YouTube years, that's the equivalent of talking about something that happened in high school.

I very strongly am against the real estate seminar circuit.  If you can notify me of similar programs, I can guarantee I'll attend one for a video, film it, and post my experience.

That's fine that you stopped watching.  100% of people do at some point with any entertainer.  But you're attempting to ruin my credibility in a public forum with things that simply aren't true.

I have built a very successful YouTube channel because what I do is very needed.

@Shiloh Lundahl there is no narrative.  Just because someone wins the lottery doesn't make it a good investment.  According to your logic, one person having a good experience at a seminar immediately wipes out everything I've said about the business model.  I should make a video explaining all of the victims in the lawsuit WERE WRONG BECAUSE SHILOH IS CORRECT.

I am very interested to have a real life evaluation of how many people recoup their "investment" in these real estate seminars.  Given the upfront cost, I would venture to say that Kyle's 95% number is fairly accurate.

Trump / Kiyosaki / Zurixx / Nudge: it's all the same business model.

Breaking down how this business model operates does not make me some hater with a narrative.

And yes I do run a meetup.  I have since 2017.  I do not charge anything and I do not have any "experts" speak.  It's for investors who want to network with other Vegas investors.  I've actually been quite successful at house hacking, which is the only topic I would ever give advice in.  Nice attempt at a subtle jab, very mature.  It's quite remarkable the negativity you've inputted into this discussion based on stuff you know nothing about.

I actually went back and watched the videos regarding Tarek & Christina and am super excited to hear your criticisms.  My videos discuss lawsuits and news stories lmao.  If you can please provide timestamps of where I was wrong, I'd be more than happy to listen.  Considering I cover the lawsuit, maybe your criticisms should be more focused on the victims and not me, since I'm simply a journalist.

Since I already know your response, my videos don't involve interviewing one person who had a good experience with something. I uncover the truth, which in this case, nearly everyone should not sign up for these seminars. I do not call Tarek & Christina frauds. I call the business model "scammy" because it absolutely is, and if you disagree, then read the complaint against Zurixx LLC.

Here's another company who ran the seminars: https://www.ftc.gov/news-event... (in case it doesn't link it's Nudge LLC getting shut down by the FTC). Literally every seminar is ran in the same way so you can copy paste their strategy with all of the others.

Let me be clear: I'm always open to hearing feedback about where I may be wrong.

For the record: my only DM with Shiloh - he complimented me on my videos and said he'd love to chat about his experience regarding Tarek & Christina's seminars.  I did not plan on making an additional video about them so my response was assuming he had a terrible experience with them.  I do not have time to take phone calls from people on these forums unless it's specifically about a video I'm planning on making.

My response word for word: "Thanks for watching the videos and the compliments. I've made a couple videos on them already and don't plan to talk more about it. Hopefully your experience was better than most."

He never responded saying I was wrong about anything or that he actually had a good experience with their program so now reading his comments in this thread are interesting LMAO.  I was worried I was rude to him or completely blocked his phone call lmao.  It was actually the opposite.

And @Kyle Bergren - saying someone clickbaits is one of the worst insults in my industry hahahaha.  But I know what you mean.  My titles are sensational because the stories are sensational lmao.  I have never clickbaited as I've always steered clear of going down that path.  Clickbaiting is where you don't deliver on the title of the video.  If you do feel like I clickbait, I'd love to hear why, because it is a pretty big deal in my industry.

BTW Shiloh - I have nothing but respect for you.  Just understand that once you come at me with insults and petty arguments, you're going to start a fun debate, something that I never lose :)

"So yes, I have little to no respect for Spencer and his making money off of his shoddy research and his continued defamation of people that make money through selling education."

Words spoken from someone who doesn't watch my videos lol.  You're welcome to have any opinion of me, but what you're stating is hilarious to me.

I didn't take your call because I don't have time to talk about a positive experience someone had at a real estate seminar.  Assuming the only video you've seen of mine is in regards to Tarek & Christina, I didn't get anything wrong.  I cover lawsuits and public stories.  The entire business model of the upsell real estate seminars is a joke.

The real estate seminar business is legit the worst business model I've ever seen from a consumers perspective.

@Shiloh Lundahl - if you had a great experience at a real estate seminar hosted by Tarek & Christina, that's awesome.  Exceptions don't prove the rule.  I break down how the seminars work and give my very justified opinion on why they're a joke.

While I'm not someone who tells someone what they should charge, the amount of people they strategically sell into crazy amounts of debt to "get started in real estate" is scary (they being the companies hosting these seminars) and IMO crazy unethical.

Let's be real - influencing/selling people into buying an expensive course to get started in real estate investing using all of their tricks - no money down, no credit needed, putting the seminar expense on a credit card crosses an ethical & moral line with me.  Everyone's moral/ethical line is subjective so no need to get into an argument here, but I think we can all agree that it is pretty ugly what they do.

I've hosted a meetup in Vegas for years and have not met one successful investor (quantified by 1+ doors or flips or "deals") who went through one of these seminars.  But I've heard about plenty of people who have spent their remaining money learning about investing in real estate without realizing the irony that just buying any house would provide better education than an upsell pitchfest, excuse me, a real estate seminar.

(Disclosure: when I refer to a real estate seminar, I'm referring to the constant upsell model used by the celebrities you see on tv.  Most of which result in class action lawsuit.  My opinion: this business model should have been shut down years ago.)

I love when people paint me as the bad guy.  It's hilarious to me.

I don't give opinions on programs because it's entirely dependent on the consumer.  Sure, some courses/mentorships/digital-products are better than others, but the difference is maybe 3-5% on a scale of 100.

If you look at education or "success" as a timeline of 0 to 100, with 0 being a complete beginner and 100 being the target, courses/mentorships/digital-products at best will get someone to 10/100.  That's the absolute best mentorship seen in the history of the world.  Most are between 1 and 5 so the difference between "bad" and "good" is negligible.

There's a reason I've only covered a "course" once on my channel in 300+ videos.  The difference between good and bad is negligible when considering all of the factors that take someone from where they are today to the place where they are trying to go.

Someone who has the drive and ability to implement what is taught will succeed regardless if the course instructor is a fake guru or not.

Most students fail in these courses because they're the problem, not the course.  My intentions aren't to be rude, but there's a reason why the average person is more tight on finances now than in 2015, even though every bit of education on how to become a millionaire is widely available for free or a cheap price.

Tai Lopez has probably created more millionaires than any other guru, even though he's widely regarded as a fake guru.

The upsell seminars are the biggest scam in the world.  It's my least favorite "business model" I've ever seen (and I've come across many given my profession).

I couldn't imagine charging people tens of thousands of dollars to learn the basics of real estate.  I can honestly say you will learn more about real estate by going through all of the podcasts on Bigger Pockets for free.

Robert Kiyosaki, Flip or Flop, (just found out Dean Smashiozi's real name is edited out), and a handful of others all were involved in these seminars that should be illegal.

Courses can be really good.  Meet Kevin (YouTuber) has a very in-depth real estate investing course that covers more topics than I've seen in a digital product.  I find courses like his to be extremely valuable.

Even fake gurus can create a decent course because they're ultimately just stealing from someone legit so the info is fine.

The real problem is the seminars.