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WARNING! Real Estate Gurus Ahead! By Mark Walters
By Mark Walters
May 18, 2005, 08:56
You've seen them. The TV infomercials, the full page newspaper ads, the direct mail letters. Take cover! We are under attack from the real estate gurus.
The real estate riches craze seems to hit the country every ten to twelve years or so. The real estate gurus may or may not really be successful investors, but there is no doubt that they are masters of marketing.
There they sit, on the patio of water front homes with yachts clearly visible in the background. They are chatting with an alleged student who only a few days ago lived in abject poverty, but now earns millions buying real estate. "Yes, you can do the same if you only attend the free seminar soon to be held in your area." You've seen exactly that on TV, right? What gives?
Is there any truth under all of that hype? Haven't you been a little tempted by such an expertly designed sales pitch? The truth is that anyone can make money investing in real estate.
It is one of the great wealth building opportunities available to any American who is determined to succeed. You literally can achieve financial independence starting with little more than determination and knowledge. The gurus are able to mount massive marketing campaigns, because they make millions promising to provide the secret knowledge of success.
Those free seminars offered by the gurus are amazing lessons in the psychology of selling. Attend and you will witness a few hundred people expertly whipped into a frenzy of greed. The crowd is carefully led step by step into an uncontrollable need to buy the "magical wealth building secrets" offered by the guru's "boot camp".
These super sales people have become so good at creating lust for wealth that they can now sell their educational seminars for as much as $15,000! Many "up sell" from there with on going mentoring services and other extras. Let's see, 100 students at $15,000 each for a three-day boot camp.
Hey, there really is wealth available in real estate! Let's be fair. Most of these people really do teach the mechanics of successful real estate investing.
Carleton Sheets, Robert Allen, Russ Whitney and others have been promoting their seminars for years and have had thousands and thousands of students. It stands to reason that after teaching that many people at least a few would become successful investors.
Those are the ones you see in the infomercials telling about all the money they've made after attending the seminar. Sure, only a small percentage of the students ever make any real money in real estate, but let's not be quick to judge. Four out of five new businesses fail within the first 5-years no matter what field they're in. Real estate investing can't be expected to be much different.
So what's the complaint? Well it's not the education. The author's experience shows that in most cases the information being taught is valid and useful. BUT. should it cost $3,000 to $15,000?
As a real estate investor and creator of educational material I am often asked for advice from people considering a guru seminar. These people are excited about the earning potential presented in the TV ads. What they really want to hear is an endorsement of the particular guru and a positive review of the seminar to help convince their spouse and themselves that the thousands will be well spent.
Here's how I reply. I ask if they have read every real estate investing book to be found on the shelves of their local library? Next I ask if they have checked to see what real estate books are available from bookstores like Barnes & Noble or Borders? Have they searched for real estate books at Amazon.com? Have they attempted to locate and join a local real estate investor club? There's one in most any city of any size. Have they done an Internet search for "real estate investing"? That's where you find privately published education from real investors. I try to direct folks to the real estate investing material that's available free or at reasonable cost. I have even found the tapes and books from expensive seminars at used bookstores and thrift shops for ten dollars or less.
Real estate investing information is everywhere if you will just look for it. You see the real secret is. there is no secret. All the gurus are teaching the same things. It is basically the same information successful real estate investors have been using for decades. You'll find it in the books at your library. It's available from others at investor clubs. It's been focused and updated by private publishers and vendors at a fraction of the cost demanded by the gurus. It's true!
You can make plenty of money in real estate and you don't have to be a guru to do it.
Mark Walters is a real estate investor and the editor-publisher of The Power Letter. This monthly, online newsletter is read by over 40,000 investors. Subscriptions are free. Please visit it now at... http://www.ThePowerLetter.com
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