How do you guys feel about courses?

Question

I see lots of people offering courses and classes regarding real estate, for the ones that are a little more experienced can you share how did you gain more knowledge about real estate? Do you think the information in these courses can also be something you can learn just from experience? As in they are scams?

Caleb Brown · Answer

With how much free stuff there is locally or virtually it makes zero sense to pay for courses. If you have scaled and had a larger business then sure you can do coaching to take it to the next level. Start simple with investing, learn the area, understand the numbers and then take the step

Joe Funari · Answer

@Nikelyia Waters When I started out as an REI over two decades ago I read Rich Dad Poor Dad. And like an idiot did their initial training. Which was very expensive. But then I started attending a local REI Club meeting. Cost was substantially less. Plus networking with other "seasoned" investors and learning from their experience was much more valuable. For example the "Guru" training I attended always would state "Subject state and local laws." They would tell us to check these laws for applicability where were were located. It was frustrating because I wanted specific local expertise to help me in my REI journey. But when I attended a local REI club wholesale training it was much different. They said you need to put out "bandit" signs to attract distresses sellers. But they would go a step further and say don't hang sings in specific local cities. The reason was they will call that number and fine you for hanging a sign without a permit. Other cities don't require a permit. It was that local, practical expertise I was craving. And at a substantially lower price.

So do yourself a favor and moving forward when you post let the BP community know what city your investing in. That way you get the same local, practical advise. Because real estate laws are regulated at a state level. So 50 different set of rules. So find one market and become an expert in that market. For me its the Dallas/Ft. Worth area. Hope this helps.

Tyler Warlow · Answer

I don't have personal experience with courses, but someone once said to me, "If they are making more money selling you their course than they are making from their real estate, are they really who you want to learn from?" In other words, these are usually people who have built their fortune through sales of their courses, books, etc and not necessarily from their real estate.

That's not to say this is the case for all courses, but take the time, do your independent research, don't trust reviews on the course website because these are usually curated. I personally have learned a lot from BP and going to my local real estate networking events which are all free.

John Morgan · Answer

@Nikelyia Waters

They’re scams. Waste of $. Real estate definitely isn’t rocket science. Go to local free real estate meetups and talk to people like us who have been doing this for years. Or ask anyone on here for free advice. Stay away from those guru courses.

Ned Carey · Answer

@Nikelyia Waters no one course will tell you everything you need to know. The success rate of people who buy courses is estimated by many at 5%. Many  of these gurus are very sophisticated sales programs designed to get you to buy ever more expensive classes. They often use manipulative techniques to get you to buy.

Many spread downright bad information. Most leave out enough information to get you into big trouble.

That said I feel there is no better place to invest than to invest in myself.  I have bought many many courses and coaching.

If you can easily afford a course go ahead and try if this is what you want to do. But never spend more than you can afford because of promises that you will make so much money it will easily be repaid. Despite promises of "easy" this is a hard business.

Nikelyia Waters · Answer

@Ned Carey Thank You!

Nikelyia Waters · Answer

@Caleb Brown That's the plan, thank you for your reply

Nikelyia Waters · Answer

@Joe Funari Thank You!!

Arman Ahmed · Answer

@Nikelyia Waters

Good question, Nikelyia. Courses can be helpful, but you definitely don’t need to pay thousands to learn this business. Most of what’s in paid programs you can pick up for free (or very low cost) through BiggerPockets, books, podcasts, and by networking with active investors. The biggest “tuition” in real estate is experience—running numbers on dozens of deals, analyzing markets, and eventually doing that first transaction. If you want to speed things up, mentorship or masterminds can be worth it, but for most beginners, the best path is leveraging free resources and surrounding yourself with people actually doing deals.

How do you guys feel about courses?

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