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The Laurex Process:
Client Consultation
Are Real Estate Seminars Worth the Money?
By Bill Bronchick
If you
read the news media, you'll see that there's a proliferation of new real
estate gurus and seminars coming around to feed the endless demand for real
estate these days. One event recently attracted over 30,000 people, with
Donald Trump as the headliner (like he knows anything about buying a
duplex?). So, how do you tell the good from the bad? Well, first let me
comment that I believe there is very little truly "bad" info out there. The
difference is mainly price and quality of information. Here's some things
you should consider when determining whether to invest in a real estate
seminar:
1. Price. Be leery of very cheap or very expensive seminars. If the
seminar is free, it's because the promoter wants to sell you something. It
costs the promoter thousands of dollars to get people into a room, so expect
a hard sales pitch. If the event is more than $1,000/day, you should also be
concerned, unless the admission price includes follow-up training or
substantial materials. I'm not saying that $5,000 boot camps are all bad,
just make sure you're getting what you are paying for.
2. Class Size. If you are paying $5,000 for a boot camp, you should
expect a small class size. If not, you are likely overpaying, since you
won't be able to ask questions in a large group format.
3. Teaching Ability. Some gurus are knowledgeable, but are bad
teachers. Make sure you have heard the speaker before or ask other people
who have attended. There's nothing worse than paying to listen to a boring
speaker or one that can't convey a topic in "plain English".
4. Value. Let's face it, some products are expensive because you
believe they are worth more. Good marketing makes you believe "Bayer" is
better than generic aspirin. Before you pay thousands of dollars for the
"brand name" seminar, look into a cheaper version that isn't being marketed
on TV.
5. The "Pitch". Although as a rule, the cheaper the seminar, the
greater the pitch for other products, some promoters do nothing but pitch,
even at $5,000 boot camps. Ask other people who have attended the seminar to
determine the teaching to-product-to pitch ratio. There's nothing wrong with
a promoter offering products and services at the less expensive seminars,
but it's borderline insulting to have a non-stop sales pitch when you are
paying $1,000 a day or more.
6. Refund Policy. Is there an open refund policy? This is very
important. Ask up front. You should be very suspicious of any seminar that
does not offer a refund policy.
7. Are You Serious About It? No matter how much or little you pay for
a seminar, it's all up to you. No diet works without exercise and discipline
and no real estate investing technique works without your hard work. If you
are just beginning, stay away from the expensive seminars until you are sure
it is for you. Start with the $500 or less variety, let it sink in, then
consider more advanced seminars when you have done a few deals. Once you
start making money, you should continue investing in your education, since
your return will be well worth it. If you are the type who has been to
seventeen seminars and haven't done a deal, consider this: "The Fault Lies
Not Within the Stars But Within Ourselves"
Real estate investing will make you a lot of money if you learn the
techniques and apply yourself. The bottom line is that education will help
you avoid mistakes and learn new ideas. Read books, go to seminars and learn
from other investors. Your best investment is in yourself.
Article Provided by:
Bill Bronchick
Legalwiz Publications
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