Some new flippers ask the question, “real estate investment groups and seminars, are they worth it?”
In short, yes! If you make the right effort, you’ll gain valuable perspective from the leaders and attendees at these events.
The novice home flipper figure often needs a little help figuring out how to go about turning a profit. According to a piece by ABC News, some customers in Florida who attended seminars by the “Flip or Flop” television program complained they paid about $3,000 for “Success Path Education,” seminar and materials and expected to see the stars of the program, Tarek and Christina El Moussa. So as long as you go into it knowing you’re not exactly guaranteed to to see your favorite HGTV star, you can often learn a lot of valuable information.
As far as free real estate seminars, a recent report by Fox News pointed out some consumers say it’s important to read the fine print. Consumers in Milwaukee say they attended a free seminar that was a pitch to spend about $2,000 on education. At the next seminar, they paid $32,000 for a personal coach, DVDs and books. Experts suggest looking for red flags and using judgement before spending money on real estate investment seminars. The Bureau of Consumer Protection’s “Consumer Facts” sheet gives consumers tips on the secrets of the seminar squeeze so people don’t lose money.
Read the details
You can never guarantee that you’ll be happy with the event. Read the details and the fine print and check if you have cancellation rights. If you need, you make be able to receive a full refund if you are not satisfied. Seminar promoters will ask people to sign an application for their program that is an enforceable contract. Avoid signing anything if you attend a “free” seminar. Get what you need in writing including the refund policy. Keeping copies all emails sent to ask for any refund. Also, find out ahead of time what kind of materials and information you get for the money. It’s easier to walk away then to get a refund, but it’s important to know the fine print.
Use caution. A red flag of these events is high-pressure sales techniques. If it’s a solid opportunity, you should feel comfortable with plenty of time to consider the facts.
It’s okay to be skeptical
Most people don’t earn big money without any experience or training. If you’re being told you can get rich quick with just a few easy tips, you’re being fed a lie for an easy sale.
Staying wary of success stories
Instead, talk to friends or family members you trust who attended a particular real estate program or experienced success instead of believing every testimonials about how real estate investors made millions with a particular home flipping program.
For many people real estate investment groups and seminars help them truly learn the insider secrets to making money in real estate. At the same time, there are a lot of real estate investing books and material that costs nothing for investors willing to read and research. Do some research and find what will work best for your needs.
At Center Street Lending, we provide loans for investors living in Arizona, California, Colorado, Washington State, Florida, Texas, North Carolina, Utah, Maryland and Virginia. We are a progressive, private money lender with a 24-hour turnaround timeline. For more information about real estate investment groups and seminars, please contact us.