The gurus got my friend!!!

[Edward B.]

So I was talking to a coworker a while ago about my real estate investing. He seemed interested so I was happy to talk to him. He said he had read Rich Dad Poor Dad back in the day and I mentioned that it might be worth rereading it. Next thing I know he is telling me that he signed up for coaching with them. Woah, what?!

Now I am not as quick to criticize the gurus as many on these forums. I do believe that some, if not many of them, do actually have some wisdom to impart. But I am just as skeptical because of the marketing machines and upselling that is a hallmark of their trade. I sat in on a couple of his telecon "coaching" sessions and they do have some good information. I keep encouraging him to do the work they prescribe to make sure that he is getting his money's worth. After all if it helps him land a deal or more it will probably be worth it. So I am strongly urging him to take the knowledge and actually apply it.

Next thing I know, though, he tells me that he is signing up for a one day weekend seminar with these guys. Um, okay. It was free but I warned him pretty strongly that these things tend to just be upsells to buy into their system more. I thought that I had rammed the point home pretty hard but he came back and told me that for just a little more money than he was paying for the coaching he could attend a three day seminar so he bought it. Now I am really concerned and seriously considering holding some kind of intervention. I don't want to stomp on his RE dreams, but I am starting to feel like this is getting out of control. The classic pay for more and more education and never actually take any real action.

Does anyone have any experience with this? Should I encourage him to hold off on further courses until he has actually worked a deal and made some money? Or should I just beat him about the head and shoulders and help him to go find a deal?