Will The Real Estate Guru Please Stand Up
I am not a "Guru"., Just a guy. I am not writing this to bash "Guru's". The reason I am writing this is because I like to help people, and I am a realist. It is time for a reality check.
Over the course of my time on the various boards and forums, and especially on TCI (The Vets here are the most helpful and knowledgeable anywhere), I have noticed several "newbies" asking about Carelton Sheets, Ron LeGrand, Russ Whitney..... the list goes on.
The pressing question seems to be "Does (insert guru here) course work?" The answer is NO! You are the only thing that works. Let me explain.
90% of the people who join a gym never go for more than 3 months. They expect the gym, and the equipment to do the work for them. They expect that if they show up, and give a half hearted effort or no effort at all, that they are going to get results. And these are the people with a plan. Imagine those that do not have a plan!! The whole point is, you are only going to get out of it what you put into it. "SO WHAT DOES THAT HAVE TO DO WITH "GURU" COURSES?" you ask. Well very simply, there is useable and sometimes valuable information in most courses, but what you do with the information once you have it is what is going to make the difference. If you spend $200.00 or $2000.00 on a course, and expect the material to do the all the work, you are going to be dissapointed. Go look for the pot at the end of the rainbow, at least it's free!
I am not, by any means, saying do not by a course. But do not ask if the course works. Ask if the course has information to help me plan my life in REI. I am of the mind that if I buy a book or course, and I get even 1 good and useable idea out of it, I consider it a good investment. YOU MAY NOT! Asking "does this work" is probably not the best way to go about it. If you buy a course, read, learn, and most of all APPLY YOURSELF!!
The one thing no course will sell you is DESIRE!
Much success to all,
Jesse
I appreciate your comment. No can give you desire or heart. That is one of the most powerful tools we each have as individuals. Thank you for that insight. As a former athlete, I appreciate the analogy of joining a gym. We as indviduals are the only person that can make a change for improvement.
Thats why I am reading as much as I can about real estate investing and incorporations and limited liability corporations to make a life change.
Yeah! Well said. I have said simular things to people over and over.
My R/E Atty told me just yesterday that many people in this world talk, look, read, learn and get absolutely no where. The reason for this is they spend all their time looking and talking and not doing. When I first came to him all inspired by "Gurus"and told him my goals, dreams and plans, he shook his head when I left he had heard it all before. (He's been around a long time in the R/E business - smile) But I was the first person he met that talked before I walked then actually did what they said they were going to do. (now he thinks I can do anything) I feel pride for all of us in his compliment, all of you that "DO" are sharing this compliment with me!
The Gurus are great (and I applaud a few) if you keep them in perspective; they are only showing it is possible to get there and giving you some tools to show you the way..............You can be shown the way and never go!
I applaud you fauche65 for your comments and supporting all of us with your insight. We all must also keep things in perspective......It shows that knowledge is the true key but only action will open the door.
I agree with everything you stated. I have bought a few courses over the years and as long as you apply the ideas and principles, they will work.
Most people buy books and courses and they end up collecting dust on a book shelf.
Does "No Down Payment" work?...Yes it does and it has some very good principles in the course but ONLY if you go out there and do it.
Jesse,
You are so right and most people completely forget about the basic "principles" for becoming successful. Many people are always looking for a "quick fix". Nothing replaces hard work and a concrete "game plan" which is constantly being "fine tuned" in order to reach your ultimate goals! I am writing a book on the subject that will be avail. in mid Sept.
Thanks for your honest approach and great post!
Sincerely,
Jon Petreeko
REISmart, LLC
"Real Estate Investing Smart from the Start"
well said! I have been buying courses for over five year. and everyone at that time was worthless, it took me all those years to see the picture Jesse just painted. It wasn't the course it was me, I wasn't applying any of it, I thought it was to hard or wouldn't work. well bottom line is, if you want your dreams to come true you have to work hard at it, you must crush fears head, you must become a guru.
I have 3 homes under my belt and i have to say after applying the the information in all of the course I can say, they all have something that will be helpful so I hope someone get what jesse is saying, don't wait five years like I did. Get started, now !
How true it is. I have worked with many newbies, and have found that they want the money, but are unwilling to give up weekends to learn. I feel that you can talk to 1000 people and maybe, 2 or 3 will learn and suceed.
I have also purchased many books and find that there will be one or two pieces of information that will help in my real estate investing.
My son wants to work at investing in real estate, but his weekends and music are to important. Maybe when he is older (34 now) he may apply himself.
Chuck
Great analogy. As a beginer and a former athlete I agree that it takes more than the will to win, it takes the will to prepare to win. Keep em coming.
BL
AMEN!!!!!!! Well said.
You, Sir, couldn't have said it better! I have only been a REI since May of this year (2003) and have managed to buy 6 properties and it wasn't the "courses" that did it for me----it was me! I have been studying every course I can get my hands on and I look for that "nugget" of info that I can use in each one. If you can learn one good tidbit of info from a course that leads you to make money, and can be repeated in the future, than the course was worth taking.
I commend you for your brutal honesty. Most "newbie" investors don't realize the "no pain, no gain" requirement of REI. You have to WORK at it to make it WORK! But once this is realized, the sky's the limit!
I hope everyone that reads this gentleman's article takes heed-----he is wise beyond his experience!
Well Said!
Very very well put. I am new to the site and love to hear realistic encouragement. I purchased Carlton Sheets, Rich Dad, Poor Dad, and attended Russ Whitney's seminar over the past few years. I can honestly say I have found all of them to be HONEST advise. Carlton Sheets introduced me to real estate investing and taught me that one rental property at a time can generate a life time of wealth. He also taught me that sometimes when your broke you have to get creative to get the property. Russ Whitney and Robert Kiyosaki introduced me to the fascinating, profitable,and legal world of tax sales and owning real estate with LLCs.
In saying that, you are absolutely correct you get out of it what you put into it. If I had followed each program to the T, I am absolutely confident I would be a millionare. But, the more I put into the more I get out of it every single month.
I am an infomercial fiend, but I have no regrets. 3 months ago my husband and I bought our very first investment property, a 4-unit apartment building. Our monthy income has increased more the 5x the price of all those courses put together!! I did not waste a dime. Thank you for your comments, and best wishes in the business.
It is refreshing to read such down to earth and comments on the site. Yes, I have the two of the three courses you mentioned in the comment you posted. The information is good, for the past four months I have simply been reading through it. I have started contacting seller's by phone and have gone to several auctions to have a first hand experience of the process. If someone can give me a tip of how to recognize a positive cash flow when putting together the cash flow statement analysis, property analysis form and buyer's property inspection report once the information have been gathered? Thanks for your help.....
What course(s) do you recommend to get information that will help a new investor the most? I would like to start doing this full time, but need to arm myself with the most up to date, and important information. Thanks, Tim
Very true!
VERY GOOD WAY TO PUT IT AND WHAT YOU SAID IS SO VERY IMPORTANT AND TRUE.
AMEN!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!
I agree too many people dis the gurus as being crooks,but are unwilling to get off the couch and prove their system does not work. What these people prove is that the system does not work because they don't. To succeed in any endeavor you must have a burning desire to be successful.