Flip or Flop stars hosting REI Class?

Question

Derek Jones · Answer

My wife and I went to one of those free seminars and were disappointed as they weren't even there. They played a 5 minute video in the beginning of them then went on to try to sell us on their tax lien certificate program and wholesale program.

Account Closed · Answer

I went to an event featuring the guy from "investment property", another HGTV show, just for kicks. I knew there was a pricey pitch coming but I was curious about their business model.

I didn't find the event to be particularly helpful in any way shape or form, but it was intriguing to see how their model functioned. Aside from the standard 3000$ "weekend getaway", the company provided a enrollment fee refund to people who would use their service to do their real estate deals with them afterwards. Basically, they brokered hard money and portfolio loans from an institutional lender at double the normal market rate in exchange for using their name, creditworthiness, liability, and support throughout the deal for you. Of course they vet your deals hard before they stick their necks out.  As an example... hard money for a flip was provided at a "low rate of 2% per month". After performing some serious calculus I was able to figure out that this is a 24% annual rate. LOL.

Don't go, unless you are as curious as I am about how things like this work.

Some well respected BP members have online education programs that are much more accessible. I got to chat with Ben Leybovich about his at a local meetup this week, and I must say I appreciate that he steers clear of inflated optimism.

Ben Leybovich · Answer

This game is hard as hell, ladies and gents. There are no short-cuts. There are no substitute to fundamental knowledge. There are no substitutes to determination and guts!

RE has been around for  while. Dirt was bought and sold a long time before any of us were around.  Education is simply there to accommodate a shortening of the learning curve by laying out knowledge in an organised and comprehensive fashion, without hype or promises.

If anyone offers you a "system" - run! There are no systems. There is only sound rationale residing atop of good base of fundamental knowledge. Don't fall for the gimmicks!

Penny Clark · Answer

@Zachary Foust avoid these "investment programs" like the plague! You dont need them. Most anything you need to know can be found here on Bigger Pockets for FREE! Five years ago we attended a three day seminar with the real estate education company Nouveaux Riche and paid them $16,000 for information on how to find deals and one on one mentoring Fortunately, we were able to get our money back due to the three day right of recision. I encourage you to read the blogs, visit the forum's and listen to the podcasts. If you're looking for hands-on mentoring look for investors in your area by joining a local REIG and take one or two out to lunch to pick their brain. As investors in the Sacramento area, we enjoy sharing with others what we know. I'm sure there's someone like that in your area. My view is the people who do these shows may be legitimate investors, flippers, whatever. But they are in the business of entertaining and making money first.

Good luck!

Account Closed · Answer

@Zachary Foust,  We attended the free two hour seminar.   We didn't care whether the tv stars were there or not, nor did we expect them to be there.   The seminar had some intriguing information, but yes, it is mainly to sell you a longer 3 day seminar for $2000 that is then offered at a lower price of $995 as a "today only offer".     We did not buy into the 3 day seminar.     I've heard from others that did buy into the 3day seminar that they then try to sell you a long term course for $10k or $20k (the prices changes depending on what city they are in).     So, I recommend you do not buy into any seminar.   Go ahead and attend the free one if you have the time.    Stick to using Bigger Pockets and networking as much as you can.

Sergey Tkachev · Answer

I've received an invitation postcard from them here in Sacramento as well, did not go after I did some online research and not-so-good reviews.  Feel free to go, just dont' take your wallet with you.  I've gone to other similar events in the past but over time realized that usually there is not enough substance in the free presentation, meaning, not much info I can actually act on.  Early on, i did learn some things from the events but once I found BP, my learning curve has escalated.  Honestly, if you spend that day just reading up the BP forums, you'll probably get so much more out of it than after attending the event.  But do try to find local reputable REI clubs and network there.  Or setup some local BP meetups and meet local BP'rs.  The question is how wisely do you want to use you time :)

Stephen Franco · Answer

many of the Guru classes are taught by a company called Bri, they basically by the brand or least the brand of the Guru, and they do all the education behind it. Effectively, every class work the same way. The free second lead you to buy the 3 day course but three day course leads you to buy their big program. I won't get into one of the courses are good or bad, but I understand there's a reason they're doing it for free. A lot of time, you will find a local mentor... Who will do it with you for little or no money down, and just take a percentage of every deal going forward. This is kind of the program that I'm considering designing myself

Flip or Flop stars hosting REI Class?

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