The Seminar Business and the "Hard-Sell Up-Sell"
After attending the Armando Montelongo Bus Tour and supposed Coaching Program in June of 2009 I've shared my learnings with you as I've experienced surprises, challenges and successes my real estate experiences.
But my passion and desire to learn didn't stop there. I've read books, learned about different real estate strategies and opportunities. I've learned about wholesaling and subject-to investing from colleagues that were trained via Nouveau Riche, bought 2 real estate information products from Phill Grove, I religiously listen to The Norris Group podcasts and even was suckered into the DC Fawcett and deceitful Karen Hanover (since arrested) pitch-fest called the Commercial Foreclosure Goldrush, and I network with my local real estate investors, all trying to live up to the dreams of real estate riches.
It was the second Phill Grove product I bought that opened my eyes to a deja-vue phenomena of the "Hard-sell Up-sell".
If this is all you read in this blog, just keep this question in mind when you attend a seminar and they try to sell you something more during the seminar: "Would I spend that amount of money to get a Master's Degree? Would I spend that amount of money to get a Bachelors Degree" If not, then think about the value of the programs they sell you during this seminars. If it costs you $50,000 to get an MBA from a nationally recognized institution, then why spend $50,000 for someone to share their "secrets of successes" with you?
The Armando Montelongo Roadmap
Armando Montelongo offers a free event where they teach you a real estate strategy and reward you with a free MP3 player for staying for the whole event. It is during that event they sell you on a 3 day real estate seminar for only $1500 and a very expensive self learning tax lien information product.
You go to the 3 day seminar and it is THEN they introduce you to a bus tour - that for me was $25,000 for 2 people. They claim you are taken by the hand and they will set you up with everything you need to be successful in real estate. You go to that bus tour and THEN the up-sell is a Master Mentor program priced at another $25,000 AND/OR you can go on another bus tour in Indianapolis where you can cash in on buy and hold strategies. I don't know the cost of that one. Of course then you must protect your assets because you WILL be rich - That was another $10,000.
Personally I had a great experience with the Armando Montelongo bus tour. I didn't need the Master Mentor program (actually they didn't offer it at the time and I wouldn't buy it now anyway). It helped me expand beyond my comfort zone so I could make investments in Real Estate - and that's when I started this blog that so many of you enjoy. And I personally thank Armando for his personal desire to see people succeed.
The Phill Grove/JT Foxx Roadmap
I bought Phill's first product because he would be a cash partner should I find a deal that worked with his numbers. I proposed a couple of deals to him and met him at one property but the numbers just didn't work. I sent another deal to him that was out of state, but he declined because it was out of state...OK, so I spent $997 for a training program, but really I wanted a JV partner and never got it, bummer, but I'll live and I found other partners. (BTW, the deal out of state returned an $18k profit on a $68k investment - 26% return isn't too bad in 4 months.)
Then Phill released his Mortgage Assignment program, again at a somewhat affordable price of $997 - and you got to come to a 2 day seminar for free. Now that sounded like a good deal and I signed up.
The program was fascinating in that it is just what is needed to implement a workaround in todays trying economic time. In fact, if it wasn't for Duncan Wierman's blog where he scared me into thinking I would be in big trouble if I actually became involved in these transactions I may be practicing what I learned, as it truly seemed to be a win/win/win real estate transaction.
As I mentioned, I've met Phill Grove a few times. He admitted to me that not too many people take action after learning real estate and I could tell he was frustrated with that fact and truly wants more people to be successful from his teachings.
The selling strategy for their up-sell product started early in the first day - the need for a mentor. The up-sell there were 2-fold, another event called mega-partnering (another $997), some New York Billionaire Experience (your choice, $997 or rub elbows with the rich at $3,997) and the big up-sell was a $40,000 mentoring program - all JT Foxx's programs.
If I ever have the "secret to success" and charge $40,000 for that secret, someone please slap me.