Confessions of a Scam Artist - Some Gurus Know These Tricks!

Confessions of a Scam Artist - Some Gurus Know These Tricks!

Investor · Chicago, IL · Member since 2013 · 2k+ posts · 1k+ votes

Hey BP Nation specially Newbie Investors:

I found this article and I believe everyone should read this. This will help real estate investors and wannabee investors from being manipulated by the gurus:

CONFESSIONS OF A SCAM ARTIST

I see a lot of gurus employ the scammy tactics this ex-scam artist used to employ.

Scammy gurus will stir you up...fueling those greed glands promising you that you will make millions with real estate while working 4 hours a week...they will get you to think of your family and they will make you EMOTIONAL about needing to spend more time with them. Then they will tell you to become FREE and earn millions, all you need to do is ask your credit card company to raise your credit card limit so you can pay them their $40,000 coaching and mentoring fee.

And they employ the scarcity tactic saying that you should NOT think about it because tomorrow their offer is gone. They will lower it to $30,000 if you buy today.

SO these newbie investors become emotionally stirred up. They make such a BIG BUYING decision based on emotions. Logic is thrown out the window and $30,000 sounds like a deal.

Don't fall for these tactics my friends.

I've seen far too many, what would otherwise be smart people fall for these scams.

You've been forewarned. Now you know their techniques and tricks. Scam artists use them. Are all gurus scam artists? Probably not but if they employ these techniques and tricks...you should be wary and think that maybe you're dealing with one.

You're all very welcome!

1Reply
24 views

Most Popular Reply

Wilmerding, PA · Member since 2016 · 188 posts · 44 votes
10y

I can honestly say that was an interesting article but I would have thought that women are more emotional than men. Although men don't ask as many questions as us women do. Or at least I ask a LOT of questions guess I should thank my sometimes insatiable curiosity for that. I can honestly say that I have been to a few local seminars and haven't gotten sucked in. Why? After years of being pitched too about damn near everything under the sun (I'm only 32) and unfortunately falling for some of these scams myself. I've learned how these people work and I guess I've just turned my blinders on as it were and continued on my way. One question I want to address also is will the scamming ever stop? In my opinion no I don't believe it will. Why? Human nature, these people are praying on people's emotions to make decisions and when they start off with "I was broke at one time" people feel an immediate connection. Best advice I can give to newer and wannabe investors is before they even begin the pitch turn off your emotions and turn on your logic.

See this reply in the discussion

4 Replies

Jump to latestLatest
  • Wilmerding, PA · Member since 2016 · 188 posts · 44 votes
    10y

    I can honestly say that was an interesting article but I would have thought that women are more emotional than men. Although men don't ask as many questions as us women do. Or at least I ask a LOT of questions guess I should thank my sometimes insatiable curiosity for that. I can honestly say that I have been to a few local seminars and haven't gotten sucked in. Why? After years of being pitched too about damn near everything under the sun (I'm only 32) and unfortunately falling for some of these scams myself. I've learned how these people work and I guess I've just turned my blinders on as it were and continued on my way. One question I want to address also is will the scamming ever stop? In my opinion no I don't believe it will. Why? Human nature, these people are praying on people's emotions to make decisions and when they start off with "I was broke at one time" people feel an immediate connection. Best advice I can give to newer and wannabe investors is before they even begin the pitch turn off your emotions and turn on your logic.

  • Investor · Chicago, IL · Member since 2013 · 2k+ posts · 1k+ votes
    10y

    @Robin Wilk, I totally agree with you. 

    Here's what a newbie can do: attend some of these guru pitchfests just to find out if there's something new. Instead of being "suckered in", one can then search on Biggerpockets - local people who do the strategies and tactics that you hear from these gurus. You can then meet these local people for lunch (and pay for the lunch), pick their brains and offer to work with them or even for them. You will learn so much more than what you will learn from any gurus' $40,000 coaching program.

    One guy @Evan Thoma - found me on BP. He is just 23 years old (watch this guy - by the time he is 30...he will be a millionaire). He met me for lunch at an expensive restaurant (which I picked). He picked my brain and I gave him tons of suggestions on how to acquire a $6M building with little to no money down. I gave him life-changing knowledge and wisdom without any guru pitch.  Why - because he offered to work hard to find my next 100+ apartment building that he and I can partner on. 

  • Real Estate Investor · Chicago, IL · Member since 2016 · 50 posts · 22 votes
    10y

    @Wendell De Guzman

    Thanks for the kind words Wendell. I can't stress enough how much the world opens up when you decide to go out and network. We can only learn so much by reading/watching. I'm super excited for what lies ahead. 

  • Wilmerding, PA · Member since 2016 · 188 posts · 44 votes
    10y

    That's one challenge I am facing at the moment getting out and networking not due to fear but due to circumstances that are somewhat out of my control to a point as I am unable to drive. It's basically due to a disability I have. This makes things somewhat problematic for me. However, I'm not out of the game yet, I just have to figure out how to overcome this obstacle that's all.

Join the conversationCreate a free account to reply, vote on answers and follow this thread.