Ive Been Scamed What Should I Do?
hi everyone
i'm just beginning to get involved with investing and i recently attended a "seminar" given by a local investor. i was told that for $250 i would learn all i needed to start investing in real estate along with contracts used in my area. i was excited to stumble upon this opportunity since i had been aprehensive about sending away for a course (i was afraid of being scamed).
so i went and it was nothing but a sales pitch for his $1200 mentoring program, legal advice from his lawyer, tax advice from his accountant, etc,etc. it was an afternoon filled with commercials! i was lied to and i dont think i should have to pay . however i'm worried that this will harm my reputation since i am just starting out
HELP what should i do?
Harm your reputation with whom? Other folks who got shafted? Is there no clause that will allow you to ask for a refund?
There are a ton of these kind of in person infomercials around. I'm always suspect 'cause I can't help but wonder why they have time to do this stuff if they're making so much money in REI.
Sorry you got burned. Try the library next time. Tons of info there.
I have to agree. You can learn more from this website than you can in three seminars if you spend the time.
Chalk it up to a bad investment ( we all make them) and move on. Don't let this one experience sour you from REI.
[addsig]
On that seminar you've attended, you probably heard something that you do not realize it has value but will come handy down the line. Anyway, the learning curve take time and the best way to accelerate it is buy doing it. Try to apply whatever you learned so far and keep reading the TCI articles and posts. Any question, please ask. Someone will always be willing to help you out.
thanks for the advice everyone!
This site is worth more than three seminars. What seminar can you go to and ask all the questions you can think of, go to bed and think of more questions, get up in the middle of the night and ask and get several answers with very creative ways to make it happen?
You are at one of the best places for RE information and help.
Utilize what you have. And don't fear another seminar. There are some seminars that actually does give good info........They are just few and far between........
Move on and good luck.
By the way have you already paid the $250? If so forget it. If not I still would forget it. I would argue the fact that I didn't get what I was promised. (PERIOD)
Look into the local Real Estate Investors club in your area. I have found mine to be a great source of info, contacts, and education.
steffimonster -Consider it a good lesson, and hey, $250 is cheap compared to what it could have been!
Education is your best weapon against scammers and bad deals. Join an investment group with a good reputation, and, yes, spend some time in the library (it's FREE!) and on this site (Also FREE!)
Best of luck to you
I don't see how it would harm your reputation. You didn't do your homework so it cost you $250. Thats the cost of life.
I attended a Short Sell seminar last week for $125 given by two local, well respected investors. It was really bad. Their presentation skills and organization was very poor. After 2 hours I gathered my stuff and left the presentation. I found the president of the local real estate investement group that was sponsoring the seminar and asked for my money back. It would have hurt my reputation more to sit through that meeting that to stand up for myself and get my money back.
Brenda
I have been to several of these seminars. I always go to meet other investors for our group. I put together a group of 65 investors that mee once a month. I never go for the sales pitch, but quite a few people do. Here is a copy of an e-mail I sent out to my group after attending one of the "Seminars"
Good Evening All,
Just an e-mail to share some thoughts and information on our next meeting.
Yesterday I attended a full day "Seminar" (read; course sale) on REI put on by the Learning Annex. I have to say that having been around the block, in the few years I have been involved with this form of investing, yesterday took the cake. The MC was Raymond Aaron himself. Great speaker, but not nearly as great as the first "Guest" he introduced.... Wright Thurston.
I respect Mr. Thurston's track record of investing (although I have not seen any proof of how many properties he has or had). I am just going by what some of his students have told me. Mr. Thurston should get out of selling REI courses altogether. He should really be selling courses on how to sell courses. Hell, he even brought out the family portrait. Out of the 250 people there, I think there were 175+ sales of www.Mr.Thurston's course....at $800.00 a pop. Anyway, one thing that Mike and Peter taught me is to never begrudge someone making a profit. I just hope that his Millionaire Camp gives a bit more information that the REI 101 he went partially through on Saturday.
Next, after a shortened lunch, we got a taste of Mr. Aaron himself. I know his reputation from some of the students I have spoken to before as well. I thing he has so much more "Pizzazz" than Wright, but he lacks the sales ability. He was touting the "Tax Lien" course by....I forget the guy's name. Anyway these puppies were going for $4997.00, no wait.....just for this event I'll make them $3997.00......but wait there's more.........just because you are such a great audience.......and you will never hear me do this again.....today only..........you can have all this for the low price of $2997.00!!! Yes that's right folks, only $2997.00 and you too can play the Tax Lien game.
Listen, this e-mail is not being put out to mock or shame anyone who purchased a course or benefited in any way from this event. I just wish these guys would call it what it is......A SALE! I know several members of our group purchased at least one of the courses.... hell I even went splits on the Thurston course with someone. I just think that some people are going to be led astray by all the hype.
Next we were all expecting Mr. Rolf DeRoos (of RichDad fame). A no-show due to "illness"! So who do we get in his place.......ladies and gentlemen.....put your hands together for...... the one....... the only........the poster child for anorexia.........the Canadian Condo King, HARRY STINSON!!! (applause please). Well my rant ends here. I left. One King West might be fine for some but not for me.
Raymond asked anyone who is interested in investing with him to stick around after 6:00 to hear his proposal for investing with him and his group. I didn't stay, but if any of you did, please give me an update after the meeting on Saturday.
My advice is to align yourself with other like minded people that want nothing in return. They are the ones that realize that the world becomes a better place through helping others.
Jesse
Quote:
On 2004-01-22 19:45, esuccess wrote:
This site is worth more than three seminars. What seminar can you go to and ask all the questions you can think of, go to bed and think of more questions, get up in the middle of the night and ask and get several answers with very creative ways to make it happen?
You are at one of the best places for RE information and help.
Utilize what you have. And don't fear another seminar. There are some seminars that actually does give good info........They are just few and far between........
Move on and good luck.
By the way have you already paid the $250? If so forget it. If not I still would forget it. I would argue the fact that I didn't get what I was promised. (PERIOD)
Maybe I'm just missing something here, but I disagree SO FAR that this site is worth more than three seminars. So far mostly what I see are posts in the form of "newbie to real estate, I'm rich and need your advice" and "I was poor and made it in real estate, good luck!". In short, I really don't see a lot of posts that have SUBSTANCE and actual information I can use.
cappadocian
No one here is going to make you successful, but they'll try to help you if you're open to it. I haven't found all the answers at TCI, I have found inspiration and guidance though. And it's because of the kindness and generosity of others. No one charges you for their opinion here, but if you listen to all of it and take what you need you might learn something. I have learned a great many things in the short time I've visited from people like JeffAdam, and omega, and lufos and many others. Good god man, these people are giving you *free* advice!