Guru programs are notoriously difficult to assess in terms of quality or outcome for their students. Some students rave about their gurus, while some complain about how they got ripped off by a fake guru.
Six Signs Your Real Estate “Guru” Might Be a Rip-Off
There are a few patterns that raise yellow and/or red flags that I want to call out that are concerning and should make you skeptical when deciding whether to spend thousands (or sometimes tens of thousands) of dollars on guru training.
1. They have a celebrity connection that they never stop talking about
Gurus will typically flaunt a network of connections that include a celebrity that they have “invested” with or promise will be involved in their course or seminar. Chances are the celebrity will not make a live appearance, and the closest you’ll get to the celebrity is a recorded video of them discussing all the massive benefits of real estate that will surely turn you from the “average Joe” to a rock star owning a yacht.
2. You will get rich quick! Or will you?
Real estate investing and wealth building is a very long-term game that requires significant capital, education, and risk. Real estate is a very slow, long-term investment that includes cyclical markets that can take years to recover from.
Putting in no money, spending no time on education, and relying on a course to help you get your first deal is the best way to increase your risk and start off on the wrong foot. No and low down payments are very common practices you will hear to get you started, but let this be your warning that if you have no money, you should reconsider investing in a course or your…