Whats with the "looking for real estate students?" thing?

Question

So I'm sure I'm not the only one who has browsed around Craigslist and seen signs driving by that goes something like "real estate investor looking for students, 5k-10k potential". Or sometimes it's "looking for a real estate student, unlimited wage potential".

Is this just a scam? I mean if you were a bird-dog for a flipper and say you made $500 per find, you would need to find 10 deals in one month just to get the 5k. And I think there are very very few flippers that could purchase 10 homes every month while flipping at the same time. I see these all the time just wondering if someone has done this before.

Mindy Jensen · Answer

@Steve Vaughan, thanks for setting the record straight. I must have glossed over the part about Craigslist in my first read of this post. I saw the driving by the sign part, and with a phone call, you can just hang up on them. Does *67 still work?

Steve Vaughan · Answer

Sorry @Mindy Jensen.  Hate to disagree with ya - but contacting them will probably put you inside the biggest telemarketing and spamming network ever!  Maybe if you have a rarely used e-mail address you can just shut down?

This has been around a while.  They are essentially a MLM co that charges you a lot to get into and pays you for referring new victims, I mean customers, to them.  The 'training' is how to sell their product.  I would avoid it.  Cheers!

Jon Holdman · Answer

Its very likely this is an organization that get "trainees" to pay big bucks to be part of the organization. And then they give them a little real estate training. And a lot of training on how to recruit other folks into the organization so they get paid a cut of the fees the new ones they recruit.

Scam? Maybe, maybe not. An opportunity to learn something for free? Certainly not.

Scam?  Maybe, maybe not.   An opportunity to learn something for free?  Certainly not.

Steve Vaughan · Answer

Lol figured as much @Mindy Jensen!  Usually doesn't hurt to make a call.   I haven't used *67 since my landline days.  Wait- I just called my alt cell and the call came in as 'Restricted'.  Success!

Good to know it still works!  Thanks!

Antonio Esquivel · Answer

That sounds about right and kind of what I was expecting. It kind of reminds me of Amway! Thanks for everyone's input!

John Hixon · Answer

@Antonio Esquivel it is definitely a MLM.  I called one of those signs once that says "investor looking for mentor to make $10K per month"  all he wanted was for me to come to a meeting where they try and get you to pay $15-$20K to join their program.  When i told him I was not interested he got really pissed.  He kept calling and texting for about a month.

Mindy Jensen · Answer

Contact them and see what the deal is.

Whats with the "looking for real estate students?" thing?

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