Those who can't succeed... teach?

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Those who can't succeed... teach?

Michael Guzik
Real Estate Agent · San Antonio, TX · Member since 2017 · 523 posts · 362 votes

Hey Guys I was on another forum and Tim Gordon posted something that really struck me. He said " At this stage of the market, those who can't succeed teach." This is something that I wholeheartedly agree with and something that really fires me up. I think it is morally wrong for these gurus to take advantage of newbies and people interested in real estate when they themselves are not truly masters or successful. Usually they know just enough to sound smart, and make it appear as though they are a master or real estate mogul. I remember I attended a real estate weekend boot camp and the guru showed us his 1099 to brag and show how he made 2 million the previous year. While others were gasping and drooling over this I was examining it and saw that he made over 1.3 million from his company that sold courses and offered coaching. This was my first encounter with a "guru" and really just opened my eyes because I had been ignorant up until that point. I don't want to start throwing out names but the first person that comes to my mind is Tai Lopez. These are the people who have literally become famous from these corny, sleezy ads where they rent nice cars and houses to impress and trick people. I was wanting you guys input/opinion on why you think they are so prevalent in today's world/market? It seems like there aren't any good guys fighting the good fight? What really upsets me the most about this, is that these gurus are the reason why REI have a bad name and are seen as con man and people trying to rob you blind. This has been something that has been on my mind lately and I'm wondering if I am the only crazy person that doesn't like them?

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Jay HinrichsBusiness Member
Real Estate Consultant · Summerlin, NV · Member since 2014 · 45k+ posts · 66k+ votes
8y

well i am going to take the contrarian stand here on your post.

I agree with some of those that sell wholesaling i see as bottom barrel guys simply because the way they teach it is illegal in many states.. 

but others that teach basic. flipping techniques they are all real its legal  and just because 400 people sign up and only about 20 will do anything with the data  .. but that's all things real estate.

1.. Just look at a 3 year old thread on BP you will not recognize hardly any names.. they all came and went and did nothing.. ( granted it was free or near free)

2. 50 to 70% those that try licensed real estate sales burn out in 1 to 3 years.. that's a fact.

3. 95% of those that take wholesaling how to course burn out and never do anything.. and probably 80% of those that buy direct mail and launch those themselves never do anything and that could be a low number.. I see it all the time on BP HELP i got a lead.. they do the mailing and have no clue as to how to close.

4. there are those that teach how to buy notes performing or  non performing.. Those are are for profit teachers as well.

Advanced training cost money.. whether its worth it to an individual is up to them.

Also keep in mind most of the BP audience is buying rentals.. as cash flow is all they want and they think being a landlord will get them to the promised land ( whatever that is) and buying rentals is about as easy as anything in real estate anyone who can fog a mirror can understand the concepts.. anyone with 20k in their pocket and a decent fico can get a loan now a days.. so yes that takes no special brain power or advanced training.

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  • Justin Stamper
    Investor · Orlando, FL · Member since 2012 · 822 posts · 303 votes
    8y
    Originally posted by @JD Martin:

    @Justin Stamper - I was in Orlando about a month ago and I swear, I almost came by just to see if I could see Marley :) My dog is a big fan of hers.

    dude you should have hit me up. I would have been happy to grab a beer and jam. got a couple sweet taylors/gibsons/fenders at the crib

    1Reply
  • JD MartinBusiness Member
    Moderator
    Rock Star Extraordinaire · Northeast, TN · Member since 2015 · 10k+ posts · 16k+ votes
    8y
    Originally posted by @Justin Stamper:
    Originally posted by @JD Martin:

    @Justin Stamper - I was in Orlando about a month ago and I swear, I almost came by just to see if I could see Marley :) My dog is a big fan of hers.

    dude you should have hit me up. I would have been happy to grab a beer and jam. got a couple sweet taylors/gibsons/fenders at the crib

     Awesome! I will remember that next time I'm down that way. I really want to find me a little second vacation home so I'm sure sometime this year I'll be back down. 

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  • Justin Stamper
    Investor · Orlando, FL · Member since 2012 · 822 posts · 303 votes
    8y
    Originally posted by @Jeremy Z.:
    Originally posted by @Justin Stamper:
    Originally posted by @Mindy Jensen:

    @Justin Stamper , the issue lies more with charging $25,000 for basic information.

    The books you are referring to cost an individual what... $30? And you don't see the difference between that and people paying $25,000 for similar information?

    "The amount of money should have nothing to do with it, because at the end of the day it is what people are willing to pay."

    So if I sell you a Ferrari and when you get home you find out it is really a Honda, that is OK? These so-called "gurus" sell one thing and deliver another. They are scammers plain and simple.

    Sorry, it's not really my intent to pick on you individually. I'll just never understand the "guru"-apologist mentality of so many on this site.

    You are not picking on me, I do not mind a conversation. 

    I do not feel like a guru-apologist, even though that does sound like an interesting church... I am a capitalist. I understand that a fool will be parted with his money,and that will never change. It is none of my business how it happens. If you want to buy a course,  a book, or whatever, who cares? Either way, this is America. Nobody made anybody buy anything. They did it on their own accord. I think the guru bashing is twice as annoying as guru apologizing because all i see is undertones of "damn I wish i was making a million dollars a month too" .....Usually hate is just love and jealousy all at the same damn time. 

    0Reply
  • Justin Stamper
    Investor · Orlando, FL · Member since 2012 · 822 posts · 303 votes
    8y

    Man I wish I would have known. I just sold something last month out of my portfolio that probably would have been perfect for you. beautifully renovated, lakefront, pool, community gym, close to i4/408/parks

    1Reply
  • Mark Anderson
    Investor · Gilbert, AZ · Member since 2017 · 4 posts · 3 votes
    8y
    Caveat empto! Get the meat when you can and leave the he bones...everything presents a learning opportunity. Looks like you found that. Don’t waste time looking for the bad. Peeing in someone’s backyard doesn’t make your grass any greener!
    0Reply
  • Grant Rothenburger
    Investor · Taylor Mill, KY · Member since 2016 · 2k+ posts · 964 votes
    8y

    @Michael Guzik There are a ton of un-knowledgeable gurus and fakers out there, that can't be denied or argued. I think the reason they are so prevalent as you asked is because we live in an instant gratification and want it now society. People see "make 1 million in 6 months" and believe it. I think it's sleazy and I would never do it, but I can't entirely blame them for capitalizing on other people's, for lack of a better term, stupidity.

    That being said, there are also consultants and coaches out there that are successful in the field they coach and actually do what they teach. I will hire a business and life coach one day and for the business coach, they will have to be very successful in real estate and still active for me to hire them. That is how anyone should approach hiring a coach/mentor/consultant.

    0Reply
  • Ben Leybovich
    Rental Property Investor · Phoenix/Lima, Arizona/OH · Member since 2012 · 4k+ posts · 4k+ votes
    8y
    Originally posted by @Tim G.:
    Originally posted by @Ben Leybovich:
    Originally posted by @Tim G.:
    Originally posted by @Ben Leybovich:
    Originally posted by @Tim G.:
    Originally posted by @Ben Leybovich:
    Originally posted by @Tim G.:
    Originally posted by @Ben Leybovich:

    I just lost $30,000 on a deal gone bad. I might have been able to pay tuition to someone to save me the headache, but education is not meant to be free...

    Get over it!

    Free education is the basis of our education system in America till 12th grade. Education should be free and the world would likely be a much better place if we as humans wanted to help educate those around us without needing anything for it. 

     Hahah everything was free in Russia. Everything is free in Venezuela. I am not sure, but I don't think it's working too well...hahaha

    I have a close friend and their family in Venezuela. Nothing is free there, please don't make generalizations (or jokes?) about something you clearly don't know anything about. When my friend married his wife, his father in law had a business and life savings. Thanks to hyper inflation he has nothing for his entire lifes work. Yeah, everything's free there because of fiat currency. They are refugees, people are robbed daily for food.

    It doesn't feel like you place much time into your responses. If you want to be funny, find another forum. 

    I was born in Russia. Grew up in Russia. And when Venezuela wanted to be like Russia it turned from a beautiful country into a **** pile like Russia.

    I think I know plenty, dude :)

     I misunderstood the tone of your post. We probably have a lot in common on that topic. 

    In regards to information being free, I'm not quite saying that. I'm saying education should be free or cheap. Teaching people the skills needed to then be able to seek information and process it capably. Ok so that means some info will be cheap and or free, I don't think that's the worst idea. Volvo shared the patent for the three attachment point seatbelt, drugs are often not marked up to insane prices in other countries. Society benefits as a whole when people share. The scarcity mindset of many in real estate leaves me feeling really sad. 

    I sell CFFU for a couple hundred bucks. I sell consulting for a lot more, because it's my time. But, in loosing $30,000 on a deal 2 months ago I learned a lot of very important lessons, and this is coming from a person who's been at this for 12 years. Now, all I am saying is that perhaps I could have learned all of these lessons for a whole lot less than $30,000. and in fact, people who pay me a fraction of that will learn these lessons. 

    Ultimately, I feel value has to be paid for - nothing is free in life. You have to sacrifice something of value in order to receive something in return. To think to the contrary is intellectually dishonest at best.

    This sounds like consulting on a specialized topic. That makes sense to me. I'm not saying we need to be out there holding folks hands making moves for them. I guess it has more to do with the value placed on the information. Is several hundred dollars an hour out of hand? If the content is really good for that specific need, its great value. 

    If the offering is sold under the guise its being successfully used by the person selling it or their staff and that isn't true (flipping systems etc..). It sounds like fraud to me. If the price is in the tens of thousands for this service and support, and the buyer's net worth is any large percentage of that amount, it doesn't sound appropriate. Especially if its suggested it be financed. That is not helping an investor, its placing a financial weight around their neck from the start. 

    I'm not here saying folks shouldn't charge for expert advice, but the entry level stuff. Man, you can find it anywhere and it doesn't hurt anyone to point someone in the right direction. We were all new at one point. 

     I still do not concur. Let me paint you a picture:

    Ivan Galamian is generally thought of as the greatest violin teacher who ever lived. He is credited with establishing the Julliard violin school. He couldn't play very well at all. His student, Dorothy Delay, was responsible for likely 75% of American soloists currently on stage, and God only knows how may Class A orchestral musicians - she, sure as all get up, could not play a lick! But what a teacher!!!

    You are very confused if you think that performing a skill qualifies you to teach it. In fact, it is extremely rare that a good operator is also a good teacher. Reality just doesn't support this premise.

    I was a decent fiddle player in my past life, but I was a better teacher. Similarly, I can get some things done in real estate, but I am a phenomenal teacher. Totally different skill-sets involved.

    Now, one of my partners, @Sam Grooms was just telling me all about how someone he knows signed up for $25,000 guru deal. Sam expressly told him that we can teach him anything he wants to knowa bout multifamily, for a lot less. But, he had his reasons. 

    Understand this, Tim - you have no idea what those reasons might have been. It's foolish for you to pass judgement on someone in this sense, don't you think? BP at large foolishly jump on the bandwagon of misinformation. Don't do it.

    4Reply
  • Jeremy Z.
    Tacoma, WA · Member since 2018 · 230 posts · 257 votes
    8y
    Originally posted by @Justin Stamper:
    Originally posted by @Justin Stamper:
    Originally posted by @Mindy Jensen:

    @Justin Stamper , the issue lies more with charging $25,000 for basic information.

    The books you are referring to cost an individual what... $30? And you don't see the difference between that and people paying $25,000 for similar information?

    "The amount of money should have nothing to do with it, because at the end of the day it is what people are willing to pay."

    So if I sell you a Ferrari and when you get home you find out it is really a Honda, that is OK? These so-called "gurus" sell one thing and deliver another. They are scammers plain and simple.

    Sorry, it's not really my intent to pick on you individually. I'll just never understand the "guru"-apologist mentality of so many on this site.

    You are not picking on me, I do not mind a conversation. 

    I do not feel like a guru-apologist, even though that does sound like an interesting church... I am a capitalist. I understand that a fool will be parted with his money,and that will never change. It is none of my business how it happens. If you want to buy a course,  a book, or whatever, who cares? Either way, this is America. Nobody made anybody buy anything. They did it on their own accord. I think the guru bashing is twice as annoying as guru apologizing because all i see is undertones of "damn I wish i was making a million dollars a month too" .....Usually hate is just love and jealousy all at the same damn time. 

     Calling out people who fraudulently misrepresent what they are selling isn't "guru bashing". I'm certainly not jealous of those gurus, and I doubt most who are turned off by their fraud are either. I dislike them because they are often stealing money from hard working people. Those people may be naive when it comes to real estate, but many of them certainly are not fools.

    I'm all for real estate education. I have no problem with people charging reasonable fees for classes or one-on-one coaching. But that's not what "gurus" do.

    2Reply
  • Terry Lao
    Professional · Anaheim, CA · Member since 2017 · 1k+ posts · 686 votes
    8y

    @Sam Shueh

    The man the myth, " TOM VU". I think he did some time in jail. When I was a kid, I saw his infomercials. Tom was on a yacht with the bikini women. The thing that made me not believe was that he was short and the girls where white. 

    Terry

    0Reply
  • Jay HinrichsBusiness Member
    Real Estate Consultant · Summerlin, NV · Member since 2014 · 45k+ posts · 66k+ votes
    8y
    Originally posted by @Ben Leybovich:
    Originally posted by @Tim G.:
    Originally posted by @Ben Leybovich:
    Originally posted by @Tim G.:
    Originally posted by @Ben Leybovich:
    Originally posted by @Tim G.:
    Originally posted by @Ben Leybovich:
    Originally posted by @Tim G.:
    Originally posted by @Ben Leybovich:

    I just lost $30,000 on a deal gone bad. I might have been able to pay tuition to someone to save me the headache, but education is not meant to be free...

    Get over it!

    Free education is the basis of our education system in America till 12th grade. Education should be free and the world would likely be a much better place if we as humans wanted to help educate those around us without needing anything for it. 

     Hahah everything was free in Russia. Everything is free in Venezuela. I am not sure, but I don't think it's working too well...hahaha

    I have a close friend and their family in Venezuela. Nothing is free there, please don't make generalizations (or jokes?) about something you clearly don't know anything about. When my friend married his wife, his father in law had a business and life savings. Thanks to hyper inflation he has nothing for his entire lifes work. Yeah, everything's free there because of fiat currency. They are refugees, people are robbed daily for food.

    It doesn't feel like you place much time into your responses. If you want to be funny, find another forum. 

    I was born in Russia. Grew up in Russia. And when Venezuela wanted to be like Russia it turned from a beautiful country into a **** pile like Russia.

    I think I know plenty, dude :)

     I misunderstood the tone of your post. We probably have a lot in common on that topic. 

    In regards to information being free, I'm not quite saying that. I'm saying education should be free or cheap. Teaching people the skills needed to then be able to seek information and process it capably. Ok so that means some info will be cheap and or free, I don't think that's the worst idea. Volvo shared the patent for the three attachment point seatbelt, drugs are often not marked up to insane prices in other countries. Society benefits as a whole when people share. The scarcity mindset of many in real estate leaves me feeling really sad. 

    I sell CFFU for a couple hundred bucks. I sell consulting for a lot more, because it's my time. But, in loosing $30,000 on a deal 2 months ago I learned a lot of very important lessons, and this is coming from a person who's been at this for 12 years. Now, all I am saying is that perhaps I could have learned all of these lessons for a whole lot less than $30,000. and in fact, people who pay me a fraction of that will learn these lessons. 

    Ultimately, I feel value has to be paid for - nothing is free in life. You have to sacrifice something of value in order to receive something in return. To think to the contrary is intellectually dishonest at best.

    This sounds like consulting on a specialized topic. That makes sense to me. I'm not saying we need to be out there holding folks hands making moves for them. I guess it has more to do with the value placed on the information. Is several hundred dollars an hour out of hand? If the content is really good for that specific need, its great value. 

    If the offering is sold under the guise its being successfully used by the person selling it or their staff and that isn't true (flipping systems etc..). It sounds like fraud to me. If the price is in the tens of thousands for this service and support, and the buyer's net worth is any large percentage of that amount, it doesn't sound appropriate. Especially if its suggested it be financed. That is not helping an investor, its placing a financial weight around their neck from the start. 

    I'm not here saying folks shouldn't charge for expert advice, but the entry level stuff. Man, you can find it anywhere and it doesn't hurt anyone to point someone in the right direction. We were all new at one point. 

     I still do not concur. Let me paint you a picture:

    Ivan Galamian is generally thought of as the greatest violin teacher who ever lived. He is credited with establishing the Julliard violin school. He couldn't play very well at all. His student, Dorothy Delay, was responsible for likely 75% of American soloists currently on stage, and God only knows how may Class A orchestral musicians - she, sure as all get up, could not play a lick! But what a teacher!!!

    You are very confused if you think that performing a skill qualifies you to teach it. In fact, it is extremely rare that a good operator is also a good teacher. Reality just doesn't support this premise.

    I was a decent fiddle player in my past life, but I was a better teacher. Similarly, I can get some things done in real estate, but I am a phenomenal teacher. Totally different skill-sets involved.

    Now, one of my partners, @Sam Grooms was just telling me all about how someone he knows signed up for $25,000 guru deal. Sam expressly told him that we can teach him anything he wants to knowa bout multifamily, for a lot less. But, he had his reasons. 

    Understand this, Tim - you have no idea what those reasons might have been. It's foolish for you to pass judgement on someone in this sense, don't you think? BP at large foolishly jump on the bandwagon of misinformation. Don't do it.

    think of batting and pitching coachs in major league baseball many times not super star's  :)

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    2Reply
  • JJ ConwayPro Member
    Financial Advisor · Stephenville, TX · Member since 2016 · 163 posts · 85 votes
    8y

    Generally I agree. And I get mad when people fall for it over and over, shelling out $10K+ for some guru (but won't shell out $1K for my real-world investing class). People really get upset when they try to sell me on their process and I ask to see a copy of their Schedule C&E, lol. None have ever taken me up on it!

    I've been told by several mentors if I want to fill my classes, I need to start advertising with nice cars and private jets, and probably should upgrade my ride to something snazzy (rather than my Mom-mobile Rav4). It's true, but it's not who I am.

    3Reply
  • Angelo Wong
    Investor · Milpitas, CA · Member since 2015 · 71 posts · 72 votes
    8y

    "Price is what you pay, and value is what you get."

    If a person pays for a guru and they get a greater value out of it (not necessarily monetarily), then it's worth it for that person. For example, if a person pays $10K for a course and maybe they don't make the $10K back--but the sunk cost forces them to take massive action, then the $10K might have been well spent for that person.

    As far as financial underwriting goes: mentors and education are pretty valuable. The true/genuine gurus are people who have already been through the path you're trying to take, and thus they will be able to guide you in such a way that you do not waste $10s of thousands on dumb mistakes. Not to mention time. This information generally is not free--you either directly compensate them or do some other thing to compensate them. And why should they give you that information for free? If you spent a significant time of your life building up a skill and someone asks "Hey tell me everything you know for FREE--I will provide you nothing in return" would you teach them anything? No? That's what I thought.

    I think everyone in BP is probably in agreement that good (defined by value > price) education/mentorship is worthwhile as it is actually positive ROI.

    On free advice (including this post): generally free advice is not valuable as there is a low-barrier of entry to give free advice. Most optimal move would always be to learn from the most accomplished people (lower in supply/higher-barrier to entry to give advice).

    But this DOES NOT imply that costly information are automatically high in value, nor does it imply that free advice is ALWAYS useless advice. Just a rule of thumb.

    Underwriting gurus/education: A lot of education runs into the agency problem. The educator receives money and it is in their best interest that the students make slow progress if any. This way they can sell more courses. I like Nassim Taleb's way of combating this problem which is essentially making sure that the educator has "skin in the game."

    A money back guarantee is generally good since it removes all risk for the student. More rigorous would be PNL sharing: the student makes money, the teacher takes a cut. The student LOSES money, and the teacher has to share the loss as well.

    Mathematically the former is OK because neither the student nor teacher has that much risk, but if there are N students that wanted a refund and the educator spent let's say 10 hours with them then the teacher has wasted 10 hours of their time, but the students collective lost N * 10 hours of their time. The teacher still has a time advantage. The latter has the reverse situation: if PNL shares are 50-50 and each student loses $10k, the teacher loses N * $5k (and each student loses only $5k due to reimbursement from the teacher). But now the educator is at a financial disadvantage.

    1Reply
  • Vaughn Smith
    Property Manager · NJ · Member since 2017 · 786 posts · 396 votes
    8y

    I cant add much that @Jay Hinrichs hasn't already said. Its fine to listen to people who aren't "successful" and sometimes a great idea to listen to people who "failed" you can learn a lot from people at all points of their journey. Unfortunately many people want to get rich quick through Real Estate and are looking for short cuts, avoid the sellers and buyers of the get rich quick schemes/programs plot your course, be methodical and consistent and you'll get to where you want to go.

    0Reply
  • Jerryll Noorden
    Flipper/Rehabber · Wilton, CT · Member since 2015 · 4k+ posts · 4k+ votes
    8y

    Sorry but this makes no sense to me. You are generalizing here.

    1) those "guru's just found an other way to make money in real estate investing.  THey are not teaching you bugus things. They ARE teaching you how to wholesale. As long as they don't guarentee you will make it, are they not teaching you the facts? This IS how you wholesale/flip/rei, period.

    Second. I teach others how to do SEO, and help their site rank and how to get 8 leads a day. Do I fail at it?

    No, I am very successful at it. (this picture does not even show the phonecalls I get daily).

    Even IF it is true that those who can't teach.. you make it sound like it is a direct consequence.  EVERYONE that doesnt make it teach? Or do you mean just a select few.

    And what is wrong with teaching if you can't make it?

    I may no know how to fly an airplane, but I can definitely teach you how to if I have the knowledge... see my point?

    Not all that teach , even if they do not know how to do it themselves are people that take advantage of newbies.

    0Reply
  • Ola Dantis
    Multifamily Syndicator · Houston, TX · Member since 2016 · 1k+ posts · 2k+ votes
    8y

    Capitalism is a beautiful thing. Is it perfect? Nothing is perfect. 

    Those who fall for the gurus are either as greedy as the gurus themselves or as naive as my 9-month old baby. *saying this with much love*

    🤑🤑🤑
    0Reply
  • Joseph M.
    Flipper/Rehabber · Los Angeles, CA · Member since 2009 · 1k+ posts · 732 votes
    8y
    Michael Guzik , real estate gurus or gurus in general aren’t anything new but it’s just become easier to be a guru or lifestyle entrepreneur seems to be the modern term . Create some catchy videos and content and market on Facebook , YouTube etc . Before you had to spend a lot of money on infomercials etc . I don’t think it should be viewed as totally black and white though . For example Robert Kiyosaki is a big guru , but his book turned on tons of success investors to the idea of real estate investing. A huge amount of the BP podcast guests say Rich Dad Poor Dad is the book that turned them on to investing. Of course he also has expensive seminars etc but nobody is forced to sign up for those. One of the main reasons for the founding of BP was to be anti guru . Of course the scammy type gurus aren’t great for the industry but the whole industry shouldn’t be judged by the bad actors out there . Every industry /professsion will have some bad actors out there .
    0Reply
  • Rachel H.
    San Antonio, TX · Member since 2009 · 3k+ posts · 1k+ votes
    8y

    @Michael Guzik Yikes!! What a crazy story. Honestly, anyone who brags about how much they're making by even showing checks on their deals is kind of hokey in my opinion. Most of the experienced investors I know (even those who do some mentoring on the side and charge money for their time) don't even show their checks. Seriously, who cares? Everyone has different goals. And it's not always about money: it's about time. You can always make money. But you can't put a price tag on time. Those who don't even get that concept still have a lot to learn. Interesting topic! Thanks for sharing. 

    2Reply
  • Chris Cliff
    Lynnwood, WA · Member since 2009 · 38 posts · 9 votes
    8y
    Plenty of comments here already, but I'll just add this. once the easy to find gold had been collected, it is far easier and profitable to sell gold pans than do the mining yourself
    1Reply
  • Ola Dantis
    Multifamily Syndicator · Houston, TX · Member since 2016 · 1k+ posts · 2k+ votes
    8y

    Yup, anyone flashy: showing checks and/or cars are trying to create an illusion in which they get you to insert yourself in that life [that is the rental car] at that moment 

    or 

    that you will live that life if you do this NOW (always has to be now or never) [mostly, drop 25k on a course]. 

    This is the quintessential guru pitch. 

    Interestingly, I don't hate the game though. Sadly, we all have to remember that it is all a game at the end of the day. Everyone (including the spectators) have a position or role to play, good or bad.

    0Reply
  • Doug Leedy
    Investor · Fort Lauderdale, FL · Member since 2013 · 75 posts · 28 votes
    8y

    There is a huge difference between a Guru and a community of like-minded individuals with varied levels of success (or no success at all...yet) for support. We have a 19 y/o who just got his third deal in 6 months and had never done real estate before. He just realized where wealth is created in this country and wanted some of it. Our training group has done over $2M in deals since August. Support makes all the difference for some people (fear is the great inhibitor). So does the competition (if he/she can do it, I can too!). Does it work for everyone? Hell no, but it does for those who really want it. Different strokes for different folks. 

    0Reply
  • Account Closed
    Investor · Portsmouth, NH · Member since 2016 · 75 posts · 33 votes
    8y
    Michael Guzik As the deals dry up, coaching becomes a lot more palatable. Given that, I encourage living lean, building up our capital, and remaining disciplined while we analyze deals. They still exist and more will come to those who stay focused. If a big correction occurs, the coaching will cease because they’ll be back to shooting fish in a barrel. Beyond that, prospective students need to actually AUDIT the courses they may buy. Call the coach, do your due diligence. I made this approach a new year’s resolution of mine. Truly audit the deals that I take seriously and I see no difference with regards to coaching programs.
    2Reply
  • Shaun Patterson
    Property Manager · West Palm Beach, FL · Member since 2012 · 296 posts · 143 votes
    8y
    As long as you have people who want to take the easy way to learn any form of real estate you will have someone available to cash in on them. Now do I agree that some guys go to teaching because they want extra money. Yes I do. Now do those guys have bad information that they are selling? Not all of them. Is that same info available to you if you take the time to study and find it yourself. Absolutely. America is the land of immediate satisfaction so most people don’t want to take the long road to get what they want and thus end of paying money, losing interest, and giving up.
    1Reply
  • Tim G.
    Rental Property Investor · San Diego, CA · Member since 2011 · 1k+ posts · 1k+ votes
    8y

    The one side of real estate investing I will never admire is the attitude of many that is "got mine, f you" I don't see how a society, ourselves or our children will benefit from seeing behavior like that. 

    0Reply
  • David Song
    Real Estate Broker · Redwood City, CA · Member since 2014 · 679 posts · 888 votes
    8y
    If those mentors are really good at REI, I can not believe they are willing to share their secrets with students. They should disclose there RE holding and transaction history to prospective students.
    0Reply
  • Michael Guzik
    OP
    Real Estate Agent · San Antonio, TX · Member since 2017 · 523 posts · 362 votes
    8y

    @Jeremy Z. I agree with your post my friend it would be one thing if they sold and delivered but they overpromise and under deliver. I love the analogy and believe you used it perfectly in this situation. I don't understand that mentality on this site either, the fact that some thing it is justifiable blows my mind. However I respect that they share their view so that I know what others are thinking. Sometimes I get so caught up in my view of how things are I forget others see things completely different. 

    @Justin Stamper I agree with that my friend! One of my friends always says we live in a microwave society where if it isn't ready in1 minute we think something is wrong. Technology is partly to blame for this, but still I don't think everyone advertising and saying a 6 pack, being rich, getting a hot significant other etc is easy and can be accomplished with this one thing for only two payments of 39.99 helps at all. I believe people should do their due diligence on who they work with/learn from not just on potential deals they are thinking of buying! I also agree with your viewpoint on it being sleezy. I think it is very sleezy and it doesn't sit right with me either so just like you I would never do it myself either.

    1Reply
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