I don’t ordinarily do this on my blog, but I’m going to “rant” a little bit this morning. I just read a promo for yet another get-rich-quick-in-real-estate expert. He supposedly made millions in real estate just by knowing the secrets to flipping. He claims you can do it in any economy. If you come to his free seminar, and then buy expensive books and coaching contracts, you can also get rich in less than one year, with no cash and no credit.
Really? If that’s true, why is he out stumping little towns all over America, hawking his books and coaching? Travelling all over the country, and selling personal coaching, is REALLY hard work. Plus, how much can you do? There’s only a certain number of hours in the week, and many of them are filled with travel, speaking, and administrative work.
I did well in real estate developing and investing. I wasn’t rich, but I was financially safe and comfortable. It was REALLY hard work. I lost money on some deals. If you do enough of them, you are going to lose money on some. The goal is to have a net profit.
Then the crash hit. I wasn’t financially safe and comfortable any more. Still believed in real estate, though, and still invest. I’ve always loved writing and teaching, and I’m doing a lot of that now. I’ll be financially safe and comfortable once again, before too long. I’ll be more conservative with my investments, next time around. We’re all saying that, these days, aren’t we?
People, IF I HAD A MAGIC FORMULA FOR GETTING RICH IN REAL ESTATE, QUICKLY, I WOULDN’T WASTE MY TIME TELLING YOU ABOUT IT!!! I’d be getting rich in real estate, quickly. The so-called experts always say they’ve made their money, and now they “just want to help others.” Someone who has a strong desire for public service goes into politics, or charitable work, or something similar. They don’t teach seminars on how to get rich in real estate, and they sure don’t sell coaching for thousands of dollars per contract.
Think about this, before you plop down your money for a so-called expert. Maybe they have something valuable to sell. Maybe they don’t. A little healthy skepticism would be good.