So I am brand new to RE and looking for a supplemental income, then hopefully to quit my corporate job. Because of these goals, I attended a free seminar by Todd Dotson.
The info he provided seemed logical enough, I certainly had fup questions, but the assumption that they would be answered if I signed up for his "training" program. It is a 3 day event for basically $1k, Not a huge amount to lose if it doesn't pan out, but I was wondering if anyone has gone through the training and if it was worth it. I'm torn between getting off the ground running by myself, or hoping that the promises he gave to the group will actually yield returns.....thoughts?
@Mr Gier It sounds like you need to jump on the forums and listen to the podcast. Listen to @Joshua Dorkin discuss is opinion on paying for education. Attend your local RIEA and network with other investors and save your $1000. There is so much information you can gather on this site as well as read books from several authors on this very site. Ken McElroy, J Scott, Brandon Turner, and Frank Gallinelli. Read the Ultimate Beginner's Guide to Real Estate Investing. What is going to be your investing strategy?
Investing strategy....The wholesaling approach is what struck a chord with me. I personally know someone who has a distress property and is willing to sell at far less than market value just to dump it, so I was thinking about that as my guinea pig.
In a perfect world, I would make a few sales wholesaling so I would have cash to close and rent for steady cash flow and/or contract the rehab work myself. I know several in the industry and could cut deals readily.
This site right here is the best resource for learning about REI that I've found, and it's free! Poke around, listen to some podcasts, and read some articles. Then ask some questions, the people on here are very knowledgeable and willing to help newbies like us. I say save your money and put it toward your first property after hanging out here for a while :)
@Mr Gier That sounds like a good starting point. Wholesaling is going to be hard work. You are going to have systems in place to keep a steady deal flow. When you respond to anyone here on the forums type in the @ symbol before there name to highlight it blue like your name is to notify that person.
What appeals to me about the program he offers is that it is a 3-day training. I think that me being so new that the "hand-holding" would be a great jump start to my learning. This is of course, if the training is as advertised...
Does anybody have experience with Todd Dotson's 3-day training? Was it worth the money? Would you do it again?
@Matt Gier - Here is an old thread about it
And when he doesn't answer your questions in the $1,000 session he will imply or he'll at least cause you to infer that your questions will be answered in the 10-20K session. I'd be extremely doubtful that he would be able to teach you anything that has not been discussed on BP. The price of BP is only the time you spend reading and I know it is worth it many times over.
@Cal C. < The price of BP is only the time you spend reading and I know it is worth it many times over.>
I think you summed it up right here. Good advice, thx!!!
@Matt Gier I completely agree with everyone else. Save your money. I did a guru program years ago, lost money and learned barely anything. If your interested in Wholesaling there's a ton of info on BP. Why not research all that first for free?
hey @Matt Gier I'm Jason, I recent went to check Todd and guys out and ended up signing you for that 3 day program as well. If you can please help me out here and let me know what was your experience was like doing it I would gladly appreciate it.
you may get your monies worth.. and whats 1k I would pay 1k for a three day course if it was good.. I would know in the first 2 hours.. I would do that before I would spend countless hours hunting around on the internet trying to learn you don't know the validity of those on the internet anymore than you do the guru's they could be one in the same.
But like on said most of the info is in the written material and CDs jump on one of those on line buying sites like e bay or amazon and buy a used Carleton sheets course.. a used Montalongo course or any other guru you can think of.. probably get the whole thing for 50 bucks plus shipping then read all that info... if your worried about spending too much.
Also sign up and get a RE license if you really want to learn and get into the industry.
ditto to everyone else, BP is basically a REIA, with more training and knowledge that you can get any where else. Save your money, and welcome to the club!
Create Lasting Wealth Through Real Estate
Join the millions of people achieving financial freedom through the power of real estate investing