About a week ago, I went to one of these "Making Money with Real Estate" seminars. Hey, I was soaking up some T.V. rays and this
guy came on bragging how he had turned $1000 into $4.3 million in 18 months *and* I was needing a day off from work. So I went.
It was supposedly hosted by Russ Whitney. It was actually hosted by an associate of his and I forget his name. Whitney has a book
out called "Building Wealth" From Rags to Riches Through Real Estate. I actually purchased this book later.
Now I like to think I'm not your typical fool. I noticed things about this seminar that struck me as, uhhhhmm, "odd". Signposts
for the skeptics:
- They had several rows of chairs split into two groups. Of course the back 4 rows on both sides are marked off as "Reserved".
At least until people stopped coming in. Way to herd the crowd up to the front. Mooooo.
- While we were seating ourselves, there was a notice on the overhead projector about what the
seminar was, please turn pagers and cell phones off, no smoking, and :
"The use of video or audio recording devices is prohibited due to the presentation
of copyrighted materials"
You realize that this also means any attempt to repeat any statements in a court of law would
probably be disallowed as hearsay. Not that I'm saying they did anything wrong. I have no idea
about the legalities of this seminar. It's just the first thought that leapt into my head when
I read the notice.
- As I said above, the chairs were divided into two groups: on the speaker's left, and right.
Your's truly sat on the speaker's left. Behind the slide projector. The other group of people were
behind the overhead projector. During the 3 hour seminar, the speaker virtually ignored our side of
the group. Despite the request of an elderly gentlemen for him to either speak up, or stand
closer to our side of the room. At one point, I had my hand in the air for a good 5 minutes,
and I know damn well he saw my hand up in the air. He probably realized I had a real probing
question to ask that would ruin his sales pitch. And I did. I mean if the guy is sooo rich he
doesn't have to work, why the hell is he here?
- The guy was a real good speaker, I must say. It isn't easy to keep people excited for 2 hours.
And the stories of real people, real success! were exciting. Duuhhh, upon reflection. Just
talk until you notice people's attention wandering, quick jump to an exciting anecdote, everyone's
attention is back, and go on.
- But for a memorized speech that is part of the system at one point, most of the material presented
at the seminar was general bargain hunting real estate advice that I've either heard, read, or seen on TV.
So that must have been the only copyrightable information shared during the seminar. I don't know for sure.
- So, now he's told us just enough to get us saddled with a piece of property that probably needs work, and
some debt that we didn't have before we started on this journey. All through the presentation, he's been saying
that he has 'over fifty ways to do so and so', or 'over 20 ways to raise money to do this and such' that he'll get to
later. We'll even go over the forms you need, later. But "later" never comes, at least during the seminar.
- The Pitch comes, though. They're based in Coral Gables, FL. At one point, the speaker asks how we would
like if they came up and took a group of us in hand for 3 days, and went over everything step by step? Well, that ain't
gonna happen. Then later, just before the "break". Well whaddya know? They are coming up here for a 3 day intensive
seminar. And we can go, but it's not free. (Author's note: dduuuuuhhh!). It's only $3490! Wow, that's expensive, huh?
Well, whaddya say we give out scholarships? How many people are interested in attending? 1, 2....34, 35, 36! Hey Johnny, how many
scholarships do we have? 9! Okay, since we've been here all week, I'm gonna do ya a favor..(Author's note, this was NOT the last
seminar of the week, there were more coming)...I'm gonna make those scholarships worth half the price of the training! Woo hoo!
And then we all went on "break" while the interested went and signed up.
- Heh, heh, after the break, I'd say 80% of the people on my side of the room left. And maybe 5 or 6 of the people on the
other side of the room. But there's more! He also had set of educational materials available. Basically, twelve cassette tapes
and a couple of booklets, all storable in these handy plastic organizers. Now to the general public this set was available for
$995! (Author's note: they must have been pretty damn proud of these tapes, and they weren't gold plated or anything). But he only
had 7 sets left...and since it was the end of the week (remember it wasn' the last seminar) and that we had been nice enough to
attend the seminar...he asked how much we thought we should pay...someone spoke up "Free!" And what do ya know? he made a
special deal for the people that signed up for the training - they could have the materials for free! He wanted them
to be able to study ahead of time.
- Then he had copies of the book I mentioned to give away. Only 5 copies. Now remember that damn near half of the people
had left by this point...and yet everyone he called was still in the room. 4 of them were on the other side of the room.
- But there's more! You've heard of changing your monthly mortgage to a bi-weekly mortgage?..well, we can help you set up
your own business to show other home owners how to do this...for a fee. *geesh*
.
Okay, so I learned about "Get Rich Quick" Seminars. And I may have learned a bit about negotiation, and what to look
for to find a motivated seller. Who knows. And I do genuinely believe that you can make money with Real Estate.
I don't know if you can do it quickly, except in rare cases. Of course, I have yet to read Russ's book, or go through
Carlton Sheets' materials, so I may be a little biased. And then again, there's that booming vending machine/calling card/calling card vending machine business
I've been looking into, too. Oh, oh! and don't forget the thousands available in 1-900 phone numbers! And those pesky
little ads! And I don't even need a computer to make money on the internet! While I sleep!