I recently attended A Get Motivate Seminar in my area (San Antonio TX). Real Estate experts and other celebrates come out one day to motivate you to get involved in real estate and stock. Like others I paid a nominal fee to attend 3 day real estate workshops that give you the basics....of what they offer...at a much higher price. Has anyone every heard of Elite Legacy Education real estate ...they teach the Rich Dad Poor Dad principals. www.EliteLegacyEducation.com? They offer different real estate education packets at ranging from $12,000 ; $16,000; $26, 000 to $40,000? In the training program they teach you..to do real estate investment where you can make $5k....and later $10K in 10 months...(which give you a ROI) ?? And of course depending on what you pay for you get a mentor (for a month) and other specialized training for whatever nitche you prefer (e.g. option lease, wholesale, creative finance, mobile homes, flip and fix, etc) What is your experienced and what have you heard...PLEASE SHARE...
The consensus you will hear from almost everyone is to not spend anymore money with them. The three day class does offer some good bits of information, but I would advise against spending more money with them after that. One of the main reasons this site was created was to bring people together to share their experiences and help others grow in their journey of real estate investing. The money you would be spending with them could be used to fund your first deal ( or several ). I would encourage you to keep reading here, attend some of our local investment meetings, and meeting with local pros here in our market to help you develop a plan of action. Don't hesitate to reach out if you have any future questions.
Ideally, I would much rather apply (invest) my monies to partner with someone locally in the TX (e..g realtor, whomever)...in turn we do a deal ; they are compensated for their expertise and I learn and reap a profit as well for my funding.
I will continue to learning as much on my end...
But at some point you need a good mentor....who you can watch and learn as they do the deals....and rinse...wash...and repeat...
Crazy to spend that much money on more training when you can get that info for mostly free.
You are correct about having a mentor and that's a great idea. However, those kind of relationships can be had for much less money by joining a local REIA or as you said partnering with a Realtor (or a couple of realtors). Ideally you should have more than one source to bounce things off of. You want to start developing a team that will help you get things going and take care of properties if you decide to buy/hold, or sell them if you decide to flip. A couple of realtors, lenders, and contractors are all a good idea. And I will stress again that the knowledge you would pay for at legacy education can be had for free just by reading these forums or asking questions as you did here.
I'm happy to assist if you have any further questions. Best of luck to you going forward.
Hello Jacqueline. I actually started in the real estate world with no money and no education. I did it through partnering. One thing I can tell you is that you really need to be careful in the partners you pick. A lot people talk a good game but that's all it is. Partnering with realtors isn't any better specially now that everyone seems to be one.
I recommend first figuring out why you're looking to get into real estate. Then find someone with a proven track record in that field. You can do this at Reia's. I recommend the Alamo REIA as it is not Guru lead nor is it a pitch fest. Once you find someone worth partnering with make sure you can provide value for their time.
If you have any questions feel free to reach out. I'm not looking to partner so don't worry about me "pitching" you.
Thanks to everyone for sharing... it just confirmed what i thought...I need to learn more before jumping into anything...
I'm sure there is value in what they have to offer and they are good at what they do.....boy are they good.....but its the price that is problematic......and for the short amount of time members are given to absorb the specialized training (1-2 yrs). They can't hold your hand forever and you're only mentored for a month - 2wks via email and 2wks in person and the mentor is not local. Also ... all members are given a bus tour to learn how to evaluate property :)
I have to say the software they offer is phenomenal (Real Estate Success Software - (RESS)) that you pay a month fee - $97 month. It allows you to select newly released creame of the crop property and does a whole lot of other wonderful things that give you the pick of the litter according to your property specifications .....and ROI you desire. But again...you gotta know what you're doing...
Thanks again guys
You could also work with a Real Estate agent and get that same information as well. I work with several investors and there are plenty of agents here in town who are investor friendly. Please take the time to keep reading and learning before diving in. I also recommend listening to the podcasts. You will get a lot of valuable information from them.
How do you know that the software is really good?? Because they are telling you it is good??
Network with other investors in person, dont make excuses about going to meetings, spend 10 to 20 hours per week after your 40 hour per week job researching and searching for deals. That is how you are going to find deals. Lots of work. Most people want a mentor to give it all to them. I can tell you everything that I know, but if you dont do anything with it, its worthless.
It all depends on what you want to do and how willing you are to accomplish it.
I went to a free intro seminar and was signed up for the 3 day seminar for $299 in Ft Lauderdale Jan 27th. I thought it was cheap enough where I could get some info.
I know they will upsell, but I had no idea it was THAT MUCH! Holy cow, I just want a bit of info to and to make sure I'm not missing anything in my real estate venture.
thx for all the info here folks!
I am in SW Florida, if I can help on info here, let me know.
Sadly we are one of those people who brought those program recently. Myself and my wife read many books and my wife came across a real estate program host by Hilary Farr's representatives here in West Virginia. We were both excited about it because nothing much happens here in West Virginia, and thought it is a great opportunity to learn more about real estate. We are young and thought all the old timer here who are doing real estate would careless about us, nor do we know how to get to know these people. My wife has been interested in real estate since 2013 after she read "Poor Dad and Rich Dad", I myself didn't get to it till last year when I wanted a change in my life. With my wife influence, I read many books on real estate and stocks but real estate seems to be the most stable investment. We were both motivated and ready to take the world on.
For people like ourselves, the first boot camp was eye-opening. There was so much information we never knew before but all this was before we found Bigger Pockets. My wife actually found Bigger Pockets by accident on YouTube and click on one of Brandon's videos. We debated if we should do the mentorship program and we end up doing it because we thought having a mentor can guide us better in our journey. The mentorship program is $9,000 and the mentor is not easily reachable and not much of coaching. We are embarrassed to admit we had them help us fund the class with credit cards and completely ruin our credit score (which we slowly try to build up early in life to 720 now 600). We have a deal under contract but there is no way we are able to get any form of loan because of our credit score. We reach out to a few people about investing with us but most of them said aren't willing because we don't have any experience. We have been trying to reach our mentor but it so happen he is sick currently.
This is one of biggest mistake we ever made and do not wish this to happen to anyone. We wish we done better on online resources like Bigger Pockets before doing this mentorship program. We have been going to few real estate investments groups and it has been wonderful. We learn so much during those club meetings and we recommend anyone to go to their investment club in their area. I firmly believe things happen for a reason, whatever the reason I hope this will help someone not fall into their trap. We will have to start all over again from our credit score to saving some money to invest again, but we will be back stronger. We can't control nor change what has already happened, so now our responsibility is to use those negative energy and change it to positive. We fall down hard, but it can't keep us down. Best of luck to you in your real estate investment journey.
That's a shame that happened to you.
I don't know much about these super high-priced real estate coaches, but I suspect that the only people that may benefit are extremely high net worth individuals that for whatever reason have no knowledge/connections in real estate.
Meaning, it's a filter. If you can pay the $40,000 for the premium package without blinking, then maybe these so called coaches can put you in contact with syndicates or other deals that require hundreds of thousands to play.
If one struggles to get $10k, or $5k, or even $1k for a seminar - the best bet is to keep saving and learn in the school of hard knocks.
@James Fisher - Luckily we back out before we spend another $40,000 on these courses.
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