Lets Keep It Honest!
I am new to investing just like a lot of people on here. I have paid a small amount of money to obtain a mass amount of knowledge that is making me money. I took John Locke's online purchase course, purchased Ron LeGrand's materials, and will be attending one of Dave Lindahl's boot camps in March. I've probably spent close to $5,000 for all the knowledge I have obtained so far and would spend more. I have made sacrifices like everyone else. My first deal, which took me 9 days to do, netted my $50K.
How many of you would spend $5000 to learn how to make $50K in 9 days? All the information is right here on this site and you only need to spend a fraction of the cost. These seasoned investor's are on here, teaching us how to do things right, how to become financially free, and they offer us products that we can buy if we are SERIOUS. They are not selling stuff ..... they make a lot more money on their deals then they would ever make selling us stuff. They are taking the time to teach. What college can you go to for $5000 and have them teach you how to make money? None!!! Not one. To all the Investor's who take the time to answer our questions and provide us with information, my hat is off to you and I say thank you.
TO US WHO WANT TO LEARN AND ARE STILL LEARNING, DO NOT SEND PRIVATE MESSAGES TO OTHERS ASKING THEM TO EMAIL OR SEND YOU ALL THE INFORMATION THEY HAVE OBTAINED.
I find it insulting to me and the people who teach it. Lets keep it honest and make the commitment many others have made. If you want this, spend the time and money to do it. If you don't learn it here, you are going to learn it through the school of Hard Knocks and that tuition is a lot more expensive.
Derrick 
Well Said....
just needed to put it out there. This website is designed to help people, but sometimes people take things for granted or go to far.
Very well put. It is very difficult to repond to some of the posts that ask broad questions with little or no background.
It is said there is no such thing as a stupid question - and I agree...but some of the posters Q's are too broad to answer on a forum.
[addsig]
Quote: DO NOT SEND PRIVATE MESSAGES TO OTHERS ASKING THEM TO EMAIL OR SEND YOU ALL THE INFORMATION THEY HAVE OBTAINED.
I agree...General questions should always be posted on the board...future members will have to ask less questions because it possibly could have been answered already.
[addsig]
i noticed that no newbies responded to your post. hahahaha.
i kinda agree, you shouldn't try to milk someone for what they know but when you're learning, you WILL ask questions with no previous insight. in my opinion, the correct response would be to point them to a forum or article which answered that already. jfmlv is excellent at this. he will answer your question but with more reading on your part. the more you read the more you learn.
also, everyone's not in your predicament. i don't have $5K to spend on courses and motivational books. besides, i learn stuff better by example than reading. maybe people don't want the course, they could be asking you for an real-life example of your situations which they could then mold to use themselves. i don't think sharing this kind of info is bad at all. each one teach one. you give some you get some.
now, by all means, congrats on your first deal! BUT you can't ask "who'd spend $5k to make $50k in 9 days". this won't happen for everyone and probably wouldn't happen to you again. this was just a nice first deal. hahaha, it's not a cookie cutter deal.
>>they make a lot more money on their deals then they would ever make selling us stuff<<
i doubt this. maybe, but i'm not sure and if you're not sure, maybe you could hold this statement back. i always heard, those who know ... do! those who don't ... teach. before i get cussed out, i don't feel that's always true - but it has it's share of merit.
having said all of that - whew - i do appreciate every bit of help and insight i've been given on the site. hopefully people will be continually more giving with thier help to keep beginners like myself growing in the game.
[ Edited by jackman on Date 10/25/2003 ]
About the old expression "those who can do; those who can't, teach...
"Teaching" doesn't only mean standing up in front of a classroom. There's all sorts of ways of teaching. And, believe this or not, many of us who also teach inside a classroom (as well as outside it) do and do know. We've just chosen to try to help others who want to learn.
[ Edited by NancyChadwick on Date 10/25/2003 ]
I understand what everyone is saying but I'd like to give my version of that. I am new to the REI industry and my problem is getting information! I truly believe that people aren't successful in what they do because they have small realities saying things like, "You can't do that" and "That's illegal." On the internet there is so much free knowledge but it seems that everyone wants to sell what they know about REI. That’s not what frustrates me, however. The thing with everyone selling their information about 95% of everything available is either useless or a scam. You buy two courses thinking they will teach you two different things. In fact neither one of them is good and they don't teach you any more than you already know.
There are a few products that offer money back guarantees but I'm beyond that first stage of learning. That leaves information that is available for a high price and a high risk.
My two cents. I do see that everyone is big talk on the internet and that 99% are not serious about REI. If I put myself into the shoes of someone more experienced I am sure I would be frustrated giving free advice that isn't followed and makes it feel like a waste of time. I do understand but I wanted to show the other side here.
I remember someone, I think on this forum saying something about imersion. That is what you have to do on the net is dig, dig, dig. I found a guy in my area that sells wholesale and will mentor you through the whole process whether you sell, or hold. Just have to keep looking, there are other ways than spending 5k. Thank goodness. There is also a national company called realnet usa. Don't know anything about them but they claim the same thing. Put a com after that to find out about.
I too have purchased several books, took some home study courses, and attended seminars dealing with the subject of REI. However, one must admit, that due to the nature of this business, I don't think there is a book/course/seminar out there that will totally prepare a newbie for every possible scenario out there. I've even been to seminars which contradict other things that I've learned elsewhere even going so far to saying that the others are wrong and don't work.
Furthermore, a lot of us newbies are people who are probably down to our last straw. Maybe some of us have had bad experiences with non-REI money-making schemes ("sold" to us by some tv "guru", or that aunt whose 19-yr old,multi-level sponsor is making 6 figures a year). Yes, a lot of us have been mocked by friends and spouses for our failures in the past and having to bear through the pain of someone asking "Whatever happened to that _____ business you were trying to recruit me into?" One can just imagine the pressure we are undergoing to make sure that these (REI) things work. Otherwise, we will be convinced that the only way to be finacially independent is by putting in 50-60 hours a day at an office job.
Since a lot of millionaires are made by investing in RE, I find this is a more respectable endeavor than trying to sell soap at a higher price than that of a major brand, and trying to justify it.
For a lot of us newbies, this site is the greatest thing as we actually can find answers from people who have been in the same situation we are facing (and which no book would explain IN DETAIL).
So please, (seasoned veterans) don't be insulted if we newbies ask questions. I know some of us are asking because we already are in a situation not covered by a book we were following. For example, we may be following a course designed to guide us in the process of taking control of a property and everything is going great until we find out that the chapter that covers asset protection is vague. We know that the experience is the greatest teacher, and in the absence of a mentor, we turn to you for advise. If you would rather not give us the answer, we newbies in turn should respect that. We do appreciate it alot though when you do. And maybe one day when have reached your level, we will cross paths and be able to return the favor.
Don't think that those who have not spent at least 5K to learn are any less serious in this business than those who did.
That said, I can say that I DO UNDERSTAND your frustration if a newbie PM you with a very elementary questions. I DO AGREE that newbies should at least have a fundamental knowledge of RE and have read at least a few books.
Just my . [ Edited by aurera on Date 10/25/2003 ]
The reason for my post is this: I was sharing me experience with someone, answering the general questions but I had enough when I was asked to send them all that I had and they would give me $30.
No, not everyone has 5K to spend, but then again, there are materials out there that cost a whole lot less. I said you could obtain the information you need for a fraction of the price. There are many courses for sale for less than $200 bucks. Yes, some are crap, I've bought one, but there are those that are not. I am a big advocate of John Locke because he was the one who taught me and on many accounts I have heard these seasoned investors making more money in REI than teaching. I don't think $Cash$ hands out his phone number to every person who makes the investment to purchase his product because he wants sales, he does it because he's there to help. And your right, not every deal happens in 9 days, but how long does it take?
I took the approach that I was going to go all out and do this thing and not look back. I put in the effort and I landed my deal because I put myself out there. If you want your phone to ring off the hook and get more calls than you can handle, do this:
200 Bandit Signs
1000 Post Cards
Magnetic Car Signs
Business Cards everywhere I went
Ad in the paper
Emails to the FSBO sites
Yes, not every first deal will come in 9 days, but do what I did and tell me how long it takes you. From my experience at the REI clubs and some on this site, there will always be somebody out there that will always mention something negative. Oh by doing ________(fill in the blank), you risk this. Oh this could happen. And a bunch of other crap. Before when I did nothing, no one had nothing to say, now that I did a deal, everyone has something to say. Not here, the REI groups.
Don't take this the wrond way, I am all for helping others, but don't offer me $30 and expect me to give you all that I got. I suggested that person become a bird dog or seek out a mentor, these courses of action cost nothing. My first mentor said, "I'll help you with your deals and every deal we do, we'll split the equity."
There are many ways to learn, this site is one of them. There is tons of advice out there and free advice is the most common. No one questions lawyers, CPA's, or other professionals that charge by the hour, and sometimes their advice sucks.
Listen to broke people and don't expect to get rich. Broke people give broke advice and they are always ready to give it. Seek out those who are real and want to help, this site lists many of them. There are also reviews on everything you can get off of this site. Listen to what people are saying about the products and go from there.
I am still a newbie and I don't mind answering questions. I ask many all the time. No, many people don't have 5K to spend. But if you are really commited to this and really want it, you will find a way to get what you need. If there is a will there is a way.
I am always learning and love all the questions that are posted. I get to see different points of views to different situations and there is never a clear cut answer. No many things that people teach will conflict with what others teach. Nothing replaces experience and getting out there and doing it. But if you do not take the time to invest in your education first, you will be re-inventing the wheel and making the mistakes others already have. I was skeptical before I bought my first course, but I learned something from it.
There was an article posted about Immersing yourself in anything you feel is worthy of knowing. "I immerse myself in any task that I deem worthy of total and complete knowledge" - GFous
That is what I did, the catch is, it cost me.
neb, you're not doubt right! sometimes newbies do have to understand (and may ask a *dumb* question to start with) that they have to put in the time themselves to research. but the thing is, they need to know when to realize enough is enough to get moving. at this point, they're bloodsucking from others.
so i totally agree that this person who asked you for all your stuff for $30 was wrong .. however creative that was! hahaha. so take it easy on them and just give them the "just read up a bit and save your $30", since they obviously need it.
about the teacher comment - i knew that'd ruffle a few feathers. just fyi, i tought before as well - i said i don't totally buy into that thought. however, in every profession, there are reals and fakes. that's all i was saying. i admire people who want to share info. i had a guy here who sent me a book he bought totally outta the goodness of his heart. i never asked, ... he offered. and for that i'm very grateful (and wish i remembered who it was - to thank him again!) there was a phrase in it that said something like "you must share this with 3 others" to really get the mindset right.
great thread, great feedback everyone!
have a productive day tomorrow!!
Well, I for one am glad that this is all cleared up.
Happy investing everyone!!!