Hey COURSE JUNKIES: Why I 300 Deals and my peers did 0 with the same “Training”
When I started in real estate and was an info gathering addict, I often looked at all the other people in the room in the many courses I took, and thought who will be “successful.” The “Guru” was telling all of us we can be a millionaire in 12 months or have a “5 million dollar net worth in 2 years.” So does that mean EVERYONE will?
Of the people I do still keep in contact with who took these courses or similar courses, none of them made it anywhere near this mark that was promised by the guru. These were people, my peers, which I perceived as smarter, more educated, and having better credentials and access to money than me, but somehow I crushed my “5 million dollar net worth” goal the guru set for me 10 years ago. (Note: it took longer but once I hit this goal it began to grow and grow with less and less work).
So what was the differentiator between myself and my peers over this 10 year period?
We were all paying ridiculous amounts of money to attend courses.
We all wanted to succeed.
All of us had the brains to do it.
HOW DID I SUCCEED AND THEY DIDN’T??
ACTION, ACTION, and more ACTION!
Most courses brainwash you to want more and more information even after a weeklong seminar or a “mentorship” and follow-up courses. So many wannabe investors who could be great investors get caught up in being a Course Junky. They never graduate to become a Real Estate Investment Junky.
Have you ever felt like you need just a few more pieces of information before you can figure out how to do this and then you will invest?
That is the psychology of selling the course. If you are investing in real estate, then you are probably not buying overpriced courses that are step-selling you to the next overpriced course. So the carrot on the stick has to always be dangled in front of your face or you may spend your money on real estate.
So Action is mentioned and pumped up a little bit but not focused on. This is the single most important factor in making money in anything. If you do not know how to do a **double, flip back reverse wholesale owner financing deal you will still be fine investing despite what the Guru tells you.
WHAT I DID
Two courses and thousands of dollars later, I did something no guru thought I would ever dare. I used my remaining 15K and bought a house and rehabbed it instead of buying the gold level mentorship program. Experience proved to be a better teacher than the guy with the million dollar smile and the flashy suit. I learned more messing up, stressing out, and then seeing the rewards of the nights and weekends of work in the form of a check at closing in 2005 when I sold my first house and made $9,100. That’s right, it wasn’t 100K, but the reality of it was it was 1/3 of what I was making the entire year as an E-4 in the US Navy. I was hooked and was addicted to the deal ever since. I still educate myself but I now know that $15K of investment property makes me a lot more than $15K of gimmicky “get rich” BS.
**I am pretty sure I made this term up as a stereotypical course offering from late night infomercials, but if some guru is selling this system I will change the term to “Triple flip buy back option trading through leveraging the note for pennies on the dollar.”
Comments 1
Great points! One of the lead-ins to the “Enchanted Double Super Secret Diamond Inner Circle” up-sell is simply the question “if your serious and ready to take action….” In this case, MANY people think that ACTION is to pony up $10, $15, $20, or $50 grand more to join these in-the-know groups. The REAL action is like you say. Take that amount and get it into play on a property. But, so many people, even yours truly, have settled for the safe comfort of the next course, the next audio book as being the action to take.
I’m not saying never take a course, or stop once you’ve had one or two courses. Some courses are really worth their weight, but know when to take real action.