Are the seminars valuable or scams?

Rental Property Investor · Tampa, FL · Member since 2016 · 208 posts · 96 votes

I've heard multiple times on podcasts, people that speak of large value from continued education, conferences, seminars, etc... But i've also seen a few BP blog posts warning that they are scams... The one around here a lot is the Rich Dad education series. A 3 day course that's affiliated with Kiyosaki sounds great of course...

Can anybody suggest a list of helpful seminars and conferences vs. ones we know are scams?

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Nathan GesnerBusiness Member

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Real Estate Broker · Cody, WY · Member since 2010 · 28k+ posts · 41k+ votes

Kiyosaki is no longer affiliated with his seminars. He sold the business to someone else and I've heard they use actors as their speakers and it's a hard up-sell to attend one of their bigger, more expensive seminars where there is a hard up-sell to sign up for private coaching.

All the courses I've looked into are "gurus" trying to up-sell. Their presentations are designed to play on the emotions of sheep, peddling products and upgrades and coaching...all founded on the idea that anyone can do this, you don't need money, financial discipline is not required, etc.

If you find a seminar, do yourself a favor and Google the name of the individual, the seminar, or the company. Search them on BiggerPockets or post a question asking for feedback. You will likely get a lot of negative responses. You may also get a positive response...typically from someone that has no investment property or that recently bought their first one. That's hardly an endorsement.

Everything you need to know is on BP. Read some books that teach you the following:

1. Financial discipline. You need to handle your current finances before you try handling investments and risk.

2. Basics of real estate investing. There are good books here on BP, or you can try the Unofficial Guide To Real Estate Investing or Real Estate Investing for Dummies. Look for a book that provides a general over-view.

Once you have the basics, learn how to find deals, fund deals, and manage deals. Again, you will learn more from one decent book than you would from any $3,000 seminar. If something doesn't make sense, refine your knowledge by reading blog posts or asking questions on BP.

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Stanley Bronstein
Attorney, CPA, Broker & Author · Scottsdale, AZ · Member since 2018 · 532 posts · 488 votes
7y
There are courses and there is mentorship. Information from courses can often be found on BP and in books and podcasts. Information and experience you gain from a knowledgeable and experience mentor can be a totally different story.
I think there's much more value in the right mentorship. Less value in an educational seminar.
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Kris Bucci
Developer · Victoria, BC · Member since 2018 · 115 posts · 73 votes
7y
I'm one of those that spent the 20k on "guru education" Do I regret it? Not at all, but not for the info I gained during the training, but for the change in mindset it gave me. I didn't understand RE Investing prior to starting the guru journey... I actually never even had a clue what I didn't know. Goign to the free seminar, then the 1k seminar and then eventually paying the 20k for the "membership" focused my wife and I and pushed us in the REI direction. From there we purchased a duplex, then found a local meet-up and then Biggerpockets, Looking back if I had somehow found the Rich Dad Poor Dad book and biggerpockets before hand, no I wouldn't spend the 20k, it would have been a waste of money. But in my case it was totally worth it... the duplex has paid the 20k off and then some, and I have now found all of you... So if you are already here.. I don't recommend spending the cash... just buys some books, download the podcasts and keep reading and listening. I used to listen to music during my commute and at the gym... now I listen to Josh and Brandon... (yes still Josh, I started at the beginning and am now up to episode 204)
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Eric Nurmi
Specialist · IL · Member since 2018 · 47 posts · 42 votes
7y
@Brian Orr Do your due diligence and look at who the course is and who it’s directed to. If you’re new, and the event is focused on seasoned investors, then pass. Any event or webinar has an additional sales component and upsell. However, that doesn’t mean that you won’t get great value out of the event itself.
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Lance Barnett
woodinville · Member since 2018 · 13 posts · 6 votes
7y
Seminars are often overpriced! Just take the time to listen to podcasts, read books, attend webinars, attend local real estate investor meetings, research, ask other people and talk about real estate all the time, and start taking action. I attended a few seminars, first one was free. They get you all excited about the millions you are going to make, and feed you nuggets of info, then tell you that if you want to learn the secrets you need to run to the back of the room and pay money. the process repeats, and prices for seminars grow exponetialy!
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Andrew S.
Bothell, WA · Member since 2018 · 20 posts · 16 votes
7y
@Brian Orr You may be surprised by what you find. I am sure there will be a few tips, tricks, resources or ideas that you hadn't heard before. If you go with an open mind (but tightly closed wallet) you most likely will pick up ideas for further study. The other benefit I've found is that you walk away energized and excited to contine the journey. Anything that helps keep you on track and moving in the right direction would be worth it.
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Chad Gaddie
Investor · Saint Joseph, MO · Member since 2017 · 29 posts · 85 votes
7y
@Brian Orr I would argue that a bad seminar is a double negative. Not only are you out the money, but you are also learnIng real estate matters from someone who believes that their personal best chance at wealth is to peddle seminars. In my book, that is not real confidence inspiring. Read books, listen to the right podcasts, and talk to people.
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Brian Orr
OP
Rental Property Investor · Tampa, FL · Member since 2016 · 208 posts · 96 votes
7y
Thank you once again to everybody providing feedback on this post. I think I have a pretty good idea how to proceed. I appreciate all of the input!
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Marie Fries
Whitman, MA · Member since 2018 · 104 posts · 80 votes
7y
@John Morgan I have done the same. 2 hour seminar and use that opportunity to network with others, also tell them to check out BP before writing a check.
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Michael S.
Huntsville, AL · Member since 2018 · 577 posts · 864 votes
7y
Instead of spending 20k for a random seminar, use the money for your first down payment on a property.
Need motivation? Once you have the title for the house, you will be very motivated.
Need more knowledge? You will acquire it quite quickly once you own a rental property.
I was always told the best way to learn a foreign language was to go to a location where it is commonly spoken, and force yourself to try and communicate until you are comfortable with it. Same is true with real estate. Take the plunge on the first property, and it will force you to learn a lot very, very quickly.
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Reggie Greene
Investor · Indianapolis, IN · Member since 2017 · 18 posts · 3 votes
7y
@Stephanie Potter Great advice, Stephanie....the true value of RE investing is meeting with Local groups in your area.
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