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Where do gurus get these ideas?

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Antonio Bodley

Alabama

Mar 11 '12, 06:16 PM


Where do gurus come up with these real estate investing tools they use to do all the work an investor would do themselves? I get emails all the time from gurus inviting me to come to some webinar talking about an awesome new tool that will find you deals from motivated sellers, locate active cash buyers in your area, provide accurate market value on the property, etc. For example, whichever guru came up with the idea to create Freedomsoft. This tool is supposedly the best thing any real estate investor would come up on. I never used it so I wouldn't know, but I get gurus pitching how great this software is and how it takes care everything with the push of button. I may be alone in this, but I see at least two things a guru need to make lots of money. 1) They need marketing strategy aimed at investors who want to make lots of money in real estate with less time and effort to make that happen. 2) They need to create something that will eliminate all the work an investor would normally do themselves.

What I want to know is who do gurus get to invent these tools and how do they build these inventions to do all the work like they say it will do? Let's say someone come up with an idea they want to build something that will eliminate all the leg work needed to do find motivated sellers and find cash buyers who will close on all your deals fast. First of all where does one find these techno wizards to build these tools?


Edited Mar 11 2012, 18:32 by Antonio Bodley


Andy Collins

SFR Investor from Dallas, Texas

Mar 11 '12, 06:51 PM


that get people to come up with things that newby investors THINK will do a lot of work for them,,some might be ok, but most are just something for them to sell



Joshua Dorkin Verified Donor

BiggerPockets Founder from Denver, Colorado

Mar 11 '12, 07:28 PM
8 votes


If there was a tool that could do it all, don't you think the guru would keep it to themselves and use it to close thousands of deals a year?



Medium_bp-squareJoshua Dorkin, BiggerPockets
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Joel Owens Moderator

Real Estate Investor from Canton, Georgia

Mar 11 '12, 07:33 PM
1 vote


Guru?? Josh trains them all as the head guru while posing as an anti-guru on Bigger Pockets! He has the perfect cover............. :)

Why don't we ask the gurus for specific deals where this program helped them to achieve results.Most likely they would say they do not track that etc.,etc.

They get developers to do these little do dads to get people excited and separate them from their money.

It's not about do dads! People get started with something and when the hard work starts to lead to results they jump on the next thing down the pike in hopes of getting rich quick.

If you simply decided to put in smart,great effort work you would be well on your way.



Medium_allworldrealtyJoel Owens, All World Realty
E-Mail: [email protected]
Telephone: 678-779-2798
Website: http://www.AWcommercial.com
www.AWcommercial.com 678-779-2798 [email protected]


Antonio Bodley

Alabama

Mar 11 '12, 09:26 PM


@Joshua Dorkin Hey, I'm just telling you what I heard.
@Joel Owens My guess is they don't tell you about the specific deals they did with the program because they have all those paid testimonials oops I mean I testimonials.



Sam Sagor

Residential Landlord from Kailua-Kona, Hawaii

Mar 12 '12, 02:01 AM


They do work - for the guy who hired the developers. You see they don't have to invest as much to get results. They get the cash from the tutorials. So, yes thy work for them.

For anyone else ... nope it's a smorgasbord of stuff that look cool as a polished icon. That's the purpose: it doesn't really do what they say that'd cost to much. Kind of like marketing materials with bullet points from such honest companies as comcast. Or for that matter campaign promises no one plans to act on. It's not unprecedented.



Don Konipol

Hard Money Lender from Houston, Texas

Mar 12 '12, 05:04 AM
3 votes


The basic "guru" pitch is that by buying training or resources from the guru, an inexperienced, uneducated (in real estate), and unknowledgeable investor lacking sufficient capital can become very successful in a certain area of real estate investing/business.

The problem with most of these programs center around the following

(1) The program taught doesn't actually work
(2) The program does not provide the person purchasing the program with the knowledge, experience or education neccessary to successfully implement the program
(3) The program contains very basic information that can be obtained far less expensively by other means
(4) The trainers and consultants provided are inexperienced and/or incompetent
(5) The program accepts anyone who can pay although many accepted don't have the neccessary personal tools to be successful
(6) The program makes false and/or misleading promises
(7) The program understates the amount of capital neccessary for success
(8) The program understates the amount of time and effort neccessary for success
(9) The program overstates the size of the target market
(10) the program assumes that because of success in one market it will be successful everywhere all the time.

There are legitimate real estate consultants/trainers out there with a track record of success. You won't find them promoting national seminars, providing free one hour introductory seminars at 6 local hotels, or promising that anyone who can come up with $5000 can be successful. They also tend to provide the training personally, not thru hired hands.

There are tools available to make a real estate investor more successful, more efficient, more knowledgeable. They are not silver bullets, and are not promoted as such. They especially are not sold via multi level or network marketing.



David Wedemire

Real Estate Investor from Bellingham, Washington

Mar 12 '12, 07:07 AM
1 vote


It's a cult. Ever sat at a table with a group of them.



Eric Michaels

Real Estate Lender from Chicago, Illinois

Mar 12 '12, 07:33 AM


Originally posted by Antonio Bodley:
I see at least two things a guru need to make lots of money. 1) They need marketing strategy aimed at investors who want to make lots of money in real estate with less time and effort to make that happen. 2) They need to create something that will eliminate all the work an investor would normally do themselves.

The above quote is where you are incorrect. They only need #1. #2 is completely unnecessary.



Steve Babiak

Real Estate Investor from Audubon, Pennsylvania

Mar 12 '12, 09:46 AM


Originally posted by Eric Michaels:
Originally posted by Antonio Bodley:
I see at least two things a guru need to make lots of money. 1) They need marketing strategy aimed at investors who want to make lots of money in real estate with less time and effort to make that happen. 2) They need to create something that will eliminate all the work an investor would normally do themselves.

The above quote is where you are incorrect. They only need #1. #2 is completely unnecessary.

I have to agree with Eric, with a minor tweak. The #2 that they need is to CONvince a number of (unsuspecting) people (let's call them suckers) that they (gurus) have created something wonderful that they (suckers) just can't do without. Those suckers are the ones who will send money the guru's way.

The guru's product does not have to meet the purchaser's expectations first ...



Steve Babiak, Redeeming Properties, LLC
Telephone: 6109082183
...


James Vermillion Donor

Real Estate Investor from Lexington, Kentucky

Mar 12 '12, 09:57 AM
2 votes


Does anyone else find it ironic that the term guru is also a religious term (Hinduism and Buddhism)?



Medium_kvJames Vermillion, K&V Investing
E-Mail: [email protected]
Website: http://www.kandvinvesting.com
Invested in the Bluegrass!


Antonio Bodley

Alabama

Mar 12 '12, 03:37 PM


@Don Konipol Where do they find they find people to give testimonies about the programs? They always seem to locate tesimonials some with video feedback and mostly written comments from these people giving a lot of praise and glory about how great the program is and how you should try it. Like really? Then then add bait with the actual check they made from using the program. Would you care to explain the real scoop behind those real checks they be flashing? And for a program not to be as good as they say it is, what is the catch with the money back guarantee they offer if it is not that good as they claim it to be?

@David Wedemire I never met one in person, so I can't say. I take it you have though.


Edited Mar 12 2012, 15:49 by Antonio Bodley


Steve Babiak

Real Estate Investor from Audubon, Pennsylvania

Mar 12 '12, 03:41 PM


Originally posted by Antonio Bodley:

... Where do they find they find people to give testimonies about the programs? They always seem to locate tesimonials mostly written comments from these peole giving a lot of praise and glory about how great the program is and how you should try it. ...

Other gurus - a reciprocal arrangement is common - you scratch my back and I'll scratch yours. The other method is to have somebody totally new (and clueless) provide a testimonial to get some reimbursement of their money paid originally to that guru.



Steve Babiak, Redeeming Properties, LLC
Telephone: 6109082183
...


Antonio Bodley

Alabama

Mar 12 '12, 03:53 PM


I knew it had to be something like that going on.

Originally posted by Steve Babiak:
Originally posted by Antonio Bodley:

... Where do they find they find people to give testimonies about the programs? They always seem to locate tesimonials mostly written comments from these peole giving a lot of praise and glory about how great the program is and how you should try it. ...

Other gurus - a reciprocal arrangement is common - you scratch my back and I'll scratch yours. The other method is to have somebody totally new (and clueless) provide a testimonial to get some reimbursement of their money paid originally to that guru.



Mike Jakobczak

Real Estate Investor from Toronto, Ontario

Mar 12 '12, 06:30 PM
1 vote


It's the same reason we see the new pitch on tv for the new and improved "knife set that cuts everything" or the "cloth that picks up everything" marketing if done correctly can make you thousands, and even millions of dollars. A value is not necessary in product, but in the pitch.

These gurus see this and take advantage of the idea of people can make easy money. On top of this they value real estate as an expensive product and then value their "expertise" as $10,000+ product. Wow, who needs to sell 1,000,000 knife sets, when people are willing to fork over 10,000...That is after they higher that credit card to allow them to do this...haha



Will Barnard Moderator Donor

Real Estate Investor from Santa Clarita, California

Mar 13 '12, 01:07 PM


The common denominator is that they sell products or services at overinflated prices, promissing easy riches that any moron can obtain. The problem is that it is only the suckers who fall for the scam. Don't be the next sucker.



Medium_be_logoWill Barnard, Barnard Enterprises, Inc.
E-Mail: [email protected]
Website: http://www.barnardenterprises.com
http://www.InvestorExperts.com


Antonio Bodley

Alabama

Mar 13 '12, 04:08 PM


@Will Barnard I am glad you mentioned over inflated. If you don't know these two gurus, you should look up Kent Clothier and Peter Conti. I got emails from these two inviting me to join their webinar, I went to and listened in on this webinar. I usually go just to just to see how much they will charge for the crap they are selling. I always assume right that they are charging an arm and a leg for their programs. Kent Clothier had this program he calls reverse wholesaling. You should see how much these programs cost thanks to these two gurus.



David Wedemire

Real Estate Investor from Bellingham, Washington

Mar 13 '12, 05:09 PM


David Wedemire I never met one in person, so I can't say. I take it you have though.

I went to Than Merrill's symposium in San Diego a few years back and ate lunch with The Man himself and his two partners. I didn't hang around for too long.



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