Solutions for problems with REI Gurus

If you’re reading this, you’re either wondering what could possibly go wrong when buying real estate investment education or unhappy with real estate investment education you purchased. Attempts at resolving issues with these companies can be complicated, nerve-wracking, and even fruitless. Here’s some advice and suggestions that may be helpful in making your decision and/or getting issues resolved should they arise.

• Read and understand ALL contracts BEFORE you decide to purchase – while this advice seems like common sense, many times these purchases are made in haste and under pressure.
• Ask questions until you fully understand what you are getting – find out what the education includes.
• Know the refund policy BEFORE you purchase – many of these programs cost a significant amount of money. That being said, the refund period for these programs is usually unreasonably short.
• Know your credit card company’s purchase protection policy – Ding! Ding! Yes, you guessed it. Many times this is the only way to resolve issues with these companies. Be cognizant of your credit card company’s purchase protection policy for ANY purchase. This policy provides protection for purchases well out of most merchants’ refund period. Still, even this protection has an expiration date so understand its limitations and deploy at the earliest sign of complications with guru companies.

Be aware! The premise of initial seminars is to get a large group of people to think in a similar fashion regarding a targeted outcome. For example, lets say an imaginary company we’ll call Wealthy Father, Inc. is selling education packages for real estate investors and people wanting to become real estate investors. Wealthy Father may hold an initial free or low cost seminar calling all real estate investors and people wanting to become real estate investors to attend. These companies spend millions in marketing and utilize various techniques to get vulnerable attendees to pull the trigger on purchases of expensive education packages that may fall short of the buyer’s expectations.

That being said, there are still protections in place (usually unknown) on which consumers can fall back. Take it from a guy whose been “guru”ed! Sites like BiggerPockets provide a plethora of information on real estate investing and (best of all) people (real, live, breathing, typing, etc.) with whom you can interact regarding real estate investing. Isn’t that brilliant, a FaceBook for real estate investors (if only an IPO were being offered)? Articles and blogs can be found on search engines like Google, and media sites like Youtube also provide videos of people teaching real estate investing. I actually found more effective videos on real estate investing strategies on Youtube than the one’s from the company that guru-ed me!

It’s my hope that each of you reads this BEFORE signing up/purchasing a guru package, which may leave you glum. My advice is simple; learn a bit -> find a great mentor -> take action. If you must spend thousands, spend it on a deal! Add your thoughts, stories, and advice. Thanks.

Go forth, live long, and prosper,

AY