All Forum Posts by: Wale Lawal

@Wale Lawal thanks for the reply! I will look into it!

@Wale Lawal

Would love to attend a meeting. Will be contacting you. Thanks!

@Jay Hinrichs

An unusually high number of “gurus” had actually previously declared bankruptcy when their real estate “programs” , almost always highly leveraged, went bust. It was usually at this point that they determined they were much better marketing, sales and “pitch” men than investors or deal analysts, or negotiators. So they scraped together the $10 - 20k necessary as a down payment for one of the real estate personality marketing systems (that also charge a back end percentage of the future sales revenue), and were given the program they would be pitching.

Many moons ago I was at a RICH Club (Realty Investment Club of Houston) meeting, when a certain well known former television real estate fix and flipper was the guest speaker. His ex wife (also on the show) introduced him, and then inexplicably told that they had lost all their money trying to fix and flip when the economy went bad, that they filed bankruptcy, that her husband went into a state of depression and refused to look for a job or even leave the house for three months, that she contacted an old “mentor” of his in Las Vegas, that she got him to go with her to Vegas, and that this mentor had set up the program, marketing etc that he was about to pitch. So here was a “expert” who was selling either (1) a system he used that ended in bankruptcy, or (2) a system he never used that he was just a “talking head” for. Meanwhile after the talk the newbies, the always believers, the desperate, and the just plain stupid we’re fighting to get to the back of the room to spend their money and sign up. When I asked one guy why he would even consider paying for mentoring from someone who was so unsuccessful that they filed bankruptcy, he said that the guru must have been successful or he wouldn’t have been on television.

As a side note, this guru was later interviewed by some minor investment media co. He was probably blindsided by a question asking him how much he made in the last year from his guru like activities. He obviously had no idea, so he made up a number that was actually about 50% greater than what the ENTIRE real estate guru industry grosses annually. And two or three financial publications then produce articles utilizing this unsubstantiated patently ridiculous claim as fact. So from then on this financially struggling guru, living in a rented home, traveling with his ex wife from real estate investment club to real estate investment club, is being written about and talked about as a centi millionaire. They couldn’t print it if it wasn’t true, right? LOL. But wait, it gets better. If the truth was told and he was just another guru struggling to rise above the “noise” of the competition, he would probably be traveling under the legal radar. But because a certain unsophisticated part of the populace believes he possesses hundreds of millions of dollars, he is targeting for lawsuits by the attorneys general of at least 3 states, as well as two private law firms trying to put together class action suits. But I digress.

I have been looking to find the Houston meetup. if someone can point me in the direction of the Houston meetup I’d appreciate it. I have searched the forums with but no dice.