The #1 Real Estate Investing SCAM That You Can Avoid!

the other day I was driving my car listening to the radio and an ad came on talking about a certain popular real estate investor who was coming to town to teach a free seminar about building wealth or real estate a hundred percent free to attend the advertisement said now I'm sure you've probably heard these ads on the radio or maybe you've seen ads pop up on your Facebook or on your Instagram feed or before a youtube video so what's the deal with these well it's a really common and effective way for these real estate investor educators to make a lot of money I'm Brandon Turner from BiggerPockets comment in this video I'm gonna break open the secret world of real estate education and explain when you shouldn't and when you should maybe pay for real estate education [Music] all right so here's how this guru trap is we like to call it works first you get invited to one of these free seminars almost all the time the real estate celebrity whose face was all over the advertisement won't actually be there just some sales guy who was on stage who's really really really good at selling I'll keep in mind they're actually teaching how to invest in real estate at these seminars but there's usually showing you what's possible they want you to get a thirst for a better life they know all the right buttons to press all the right emotions to tweak and the psychological tricks to get you to do one simple thing sign up for the next level of education which is usually in the form of a weekend boot camp for a semi reasonable price usually like a few hundred bucks this for the real estate educator is really a way to filter all those out who don't have the funds to make a larger purchase which is what the weekend boot camp is usually about so you go to the weekend boot camp and then you'll likely learn a little bit more but more of that event is just focus on the next upsell usually a 20 or 30 or 50,000 even $100,000 coaching or education platform that they have and let me tell you they are really really good at getting people to pay those kinds of money that kind of money those kind of money now is any of this wrong well not necessarily I know a number of investors who have become successful after paying a hefty amount for coaching and training but I also know many more who have succeeded wildly without the help of that guru crowd what drives me nuts is a number of individuals I hear from who spent that 30 or that 50 or a hundred thousand dollars to learn how to invest and then they discover that the information they learn is already out there usually for free or you might pay for a book or a podcast or have to do a google search like some of these individuals were pressured into putting this expensive training onto credit cards like even being pushed to negotiate with their credit card companies to raise their credit card limits it's an investment in your future the Guru says and sure it could be right but here's the thing I've noticed this over and over every single person that I know who succeeded with the help of some expensive training I believe they would have done so without that training they just have the mindset and the work ethic to make it happen anyway and those who I know who haven't paid for education and they've not found success no amount of coaching or expensive training was gonna help them right and here's the real kicker something that might make you a little uncomfortable to hear your ed e for this I believe most people who pay for expensive coaching and training do so because it makes them feel like they're taking action it makes them feel like they're making progress it makes them feel like they're getting closer to their goal but usually they're going backwards in other words expensive real estate education is nothing but an excuse not to take action so here's my challenge to you if you've got a lot of credit card debt you're struggling financially do not pay for expensive coaching and training instead prove to yourself that you have what it takes by taking real action so grab a pen and write these six things down number one listen to a hundred episodes of a real estate podcast obviously I'd recommend the BiggerPockets podcast cos of the incredibly handsome and talented host and then also like seven thousand plus five star reviews and 60 million downloads but really there's a ton of great real estate shows out there so listen to something a hundred episodes number two read fifteen real estate investing books minimum number three engage in at least a hundred conversations over on the BiggerPockets forums it's free number four take a dozen real estate investors out to lunch or coffee over the next few months not all together that'd be weird number five analyze 100 real estate deals walk through a dozen open houses and attend at least three real estate meetups in your area and number six be sure you are living responsibly by spending seventy percent of them or less of what you earn cut your expenses kill your Netflix if you have to whoa after all that if you still think you need coaching and training and you have the money in cash not credit then sure go for it you know but you're probably thinking that's gonna take a long time Brandon to do all those things now you're getting it real estate investing takes work it takes passion it takes persistence and it takes time you do the things the six things I just mentioned and then I'll believe that you've got what it takes to actually succeed now that's nonsense a coaching and training doesn't have a place in the industry or in your future like look even Tiger Woods arguably the best golfer in the world has a golf coach coaches or mentors can be incredibly helpful in answering questions allowing someone to really break through mental barriers hold each other accountable to action steps or even like work alongside you want a deal and some of these individuals are very knowledgeable and there are plenty of stories of people out there who have paid money to a coach or a paid mentor and found incredible success maybe the hand-holding is just what you need but be careful do your homework on the educator and of course check out bigger pockets forums to kind of do some of that research and then don't get caught up in the hype or the promise of secrets there aren't any secrets just hard work passion persistence repeat the point I'm making is this before throwing money at someone else in hopes that they're going to make you successful understand that success comes from within first in today's world and largely thanks to the bigger pockets real estate investing community information has been democratized in other words the information you need is out there it's right for the taking you don't need to pay 30 grand to some national guru that you'll probably never even meet to tell you how to find real estate deals or how to get funding or how to structure your business right so to conclude this video I'll leave you with one of my favorite quotes from the late great Jim Rohn I quote him all the time because I love this stuff if you really want something you'll find a way if not you'll find an excuse now if you like this video can you do me a favor click that little thumbs up button and of course follow us here on the BiggerPockets channel for BiggerPockets dot-com my name is Brandon Turner signing off [Music]

Channel: BiggerPockets

Views: 164,457

Keywords: biggerpockets, real estate, real estate investing, investing, investing in real estate, bigger pockets, passive income, how to invest in real estate, real estate investors, real estate investing 2019, real estate scams, real estate scams red flags, real estate investing scams, real estate investing education, real estate investing guru, investing guru, exposing real estate guru, real estate investing for beginners, dean degrazio, grant cardone exposed

Id: 7R1xMNTprPU

Length: 7min 26sec (446 seconds)

Published: Tue Apr 02 2019