Should You Pay for an Expensive Real Estate Education Course?

Should You Pay for an Expensive Real Estate Education Course?

 

No doubt, you have seen expensive coaching and training programs advertised on late-night television or internet banner ads. Real estate gurus claim to be able to teach you to become filthy rich through real estate investing. Is this real? Can you really learn from these guys?

Let me first explain how this industry works. Typically, this kind of coaching or training involves several “layers,” and as you peel away the layers, the education gets more and more expensive. Let me share the most common layers, so you’ll be able to recognize them in the future.

 

1. The Free Class

You might come across an advertisement on the radio, on television, in your local newspaper, or on your favorite website –something like “free real estate seminar” at a local hotel or conference center. The marketing teams behind these gurus spend a lot of money to drive traffic to these free seminars, hoping to pack the room with wannabe real estate investors.

2. The Hype

In the seminar, the real estate guru creates massive hype around what real estate can do, showing photos of his properties, citing impressive numbers on how much profit he made, and claiming how easy it was. He tells stories of past students who have amassed a fortune from his investing tips. He pushes on all the right pain points about how hard being broke is, how you are not taking care of your family well enough, how you are missing out on life’s luxuries. Then, he pitches hard for you to attend his weekend boot camp, usually for a small yet not insignificant chunk of money, between $200 and $500. After the pitch, he encourages the attendees to run to the back of the room to sign up — and many people do.

(Continue reading on BiggerPockets…)

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