Investor · Houston, TX · Member since 2020 · 79 posts · 78 votes
I don’t want to name drop but I paid $4000 for a 3 day workshop and now they want $40,000 more for coaching and mentorship. A friend of mine that has a successful portfolio worth millions advised me not to. He recommend to network as much as possible, study and research and start small and scale up. Your biggest investment is yourself so decided to check out bigger pockets to start my journey.
So curious to see who else has gone through those 3 day workshops in hotel conference rooms and try to sell you more and more things. Or who else has made it without shelling out 80,000 dollars for coaching and mentorship?
I'm confused, are you saying you paid the $4000 or are u implying that someone else did? And I'd advise against the $40,000 coaching because that is literally a downpayment on a house. Network and learn what to do from people a little more experienced at a fraction of the cost (coffee, dinner, lunch etc.) and use the $40,000 to invest in Real estate yourself.
I did not bother to read all the post ,so everyone is shocked why you did that .Now if you can muster up 40k put a down payment on a rental in a class B area might take time don't get in a hurry .
I am sure lot's are saying the answers are here to fill in the blanks , correct they are .
@Mitch Messer excellent advice right there. There are good ways to spend money on education and sub-optimal ways. Get the basics with no cost networking, going to REI clubs, read, watch, learn. If you can find some weekend classes offered for under $100 through your REI club that doesn't focus on upselling, check those out. But so much free education just here on BP. Once you find your niche into investing, find folks to help you out and learn from them. Only when things get more sophisticated and you have started to leant what you don't know, paying to learn how to move forward may make sense. But not when you're at 0.
@Jeremiah Akindele We all have our own paths to forge. 2019 was my first year researching real estate and I spent the year listening, learning and networking. There are plenty of of resources, more stories and many shiny objects to distract you from focusing on your One Thing. That was me. After a few serendipitous events in December, I dropped a pretty penny on a 3 day workshop focused on private lending. I was against spending a large sum (not 5 digits) for learning but after looking back at my activity in 2019, it made sense for me. With my focus to leverage private lending as a way to grow my network and experience, I already see a change in how I approach folks. I have something to offer them. So don't feel like the money you spent was foolish. Only time will tell. Use it as a time to learn but understand that networking will be your most valuable resource to fuel your growth.
@Jeremiah Akindele that $4k is a 7 day cruise for you and a guest. If you spent 3-4 hours a day of that cruise reading the top 10 real estate books that are suggested here on BP, you most likely would have gotten some similar knowledge (and got a trip to boot!). However, some people do find the lecture or classroom environment helpful, but most of these, sadly are in business for getting people in their chairs, not necessarily for coaching others to be successful. Lots of great advice out here. I wish you the best of luck, and glad you didn't take the $40k plunge.
@Jeremiah Akindele so sorry to hear you had to go thru this and unfortunately, this isn't the first time I've heard about this kind of thing. They sell you on free REI advice that will make you millions, so you pay a fee to attend, then they ask you for more if you want to learn more. Yikes!
Too bad you're not in the Bay Area. You could come on ride alongs with me and my team on our properties for FREE and probably learn much more than at these workshops.
@Federico Peralta wow. People actually also paid in the course I went to. I was like 😳. I actually found out that some of these conferences plant people from their team in the audience just to generate interest... but on another note, I spoke with a gentleman here on that actually paid thousands for those courses and he ended up becoming successful. So it is a risky journey worth investing on based on the individual and your aspirations.
Agree , it’s very risky, they were pushing , check your credit karma and let’s lest see how much lenders with give you, and then you can pay the class. Still great info here have an amazing journey.
I don’t want to name drop but I paid $4000 for a 3 day workshop and now they want $40,000 more for coaching and mentorship. A friend of mine that has a successful portfolio worth millions advised me not to. He recommend to network as much as possible, study and research and start small and scale up. Your biggest investment is yourself so decided to check out bigger pockets to start my journey.
So curious to see who else has gone through those 3 day workshops in hotel conference rooms and try to sell you more and more things. Or who else has made it without shelling out 80,000 dollars for coaching and mentorship?
Please advise.
Ha, this is why I started offering education to people. I've known so many people that have spent 10's of thousands of dollars on training. It's sad really. Look i would stop now while you're ahead. Most people don't even have 40K, that's more than enough to start a rental business especially with arbitrage. You don't need training, you just need to read the forums and take action. There's plenty here to get your started.