The cycle has come back around again; there is a resurgence of interest in real estate investment roughly every 10-15 years and the craze is once again underway. Along with rising public interest in the investment opportunities available in real estate, there are the inevitable frauds, hucksters and other assorted parasites who come out of the woodwork to make money at the expense of gullible consumers.
Am I being fair to the latest generation of self styled real estate gurus? I’ll let you make the call. However, it’s apparent to anyone who has any real world experience in real estate investment that these so called experts are often anything when it comes to real estate, though many are undeniably skilled marketers. Would you prefer to make a real estate deal with an actual real estate broker/guru/mentor who knows the industry or a marketer just moving in on real estate in the hopes of making some money off of new investors? Again, I’ll let you decide.
The first thing that any investor needs to look at is the way that these real estate gurus get their message across. What you’ll see a lot of from these real estate investment “experts” is flashy websites, ( tho some have not even bothered to or run spell check before sending out emails or uploading site content) and above all, a lot of hype.
You’ve seen these marketing emails and websites before; they probably look more than a little familiar and it’s for good reason. Replace the words “real estate” with “Google money making machine” or “make millions working from home” or any other online marketing scam that’s going around at the moment and you’ll notice that their content is basically identical. Right down to the stock photos of people standing by yachts, limousines or palatial homes, these sites are like those run by scammers of any stripe, which should raise a red flag immediately. If you’re being offered something which seems too good to be true, it most certainly is.
OK. I haven’t been entirely fair to these self appointed real estate investment geniuses. While the vast majority of them haven’t made any money in real estate (or possibly in much of anything else), there are some who do have some useful information on the market to share – for a price of course. The problem here is that even those flashy real estate marketers who do know a little something about property investment aren’t offering anything which isn’t already available for free or for a much lower price then they’re asking.
What these new real estate gurus are really out to do is separate gullible would be investors from their hard earned savings. Let’s be honest here. They’re not interested in making you rich or even interested in you as a person; though they are keenly interested in your wallet. While I wouldn’t tell anyone not to make a living and as a long time real estate broker myself, I can attest to the fact that there is plenty of money to be made in real estate, these “gurus” are motivated by greed and greed alone.
What can you expect if you decide to pay these experts for their books, seminars or real estate marketing systems? Not much, as it happens. You definitely shouldn’t expect any kind of customer support, you shouldn’t expect any information which isn’t available elsewhere for free, you shouldn’t expect your results to be anything like what you’re promised and above all, you definitely can’t expect to get your money back, no matter what.
What you can expect is to lose out on whatever you pay these people, to get information which is often worthless and quite often, to end up on a large number of mailing lists which will keep your inbox stocked with enough spam to put Hormel to shame. There are people out there who will try to sell you what they claim is exclusive real estate investment secrets that will make you wealthy instantly (and again, let me tell you that there is no such thing, no matter what they may tell you); but they really make their money by selling their mailing lists to their fellow scammers and fly by night internet marketers.
If you’re looking for sound advice on real estate investment, I’d advice looking elsewhere. There are plenty of quality sources of information on the property investment market – but that’s not what these people are offering you. You can learn much more by visiting your local library (for free, I might add) or better still, by talking to an actual real estate professional; and one thing you’ll notice is that reputable brokers never use these bling-laden websites and shoddy, multilevel marketing-style sales letters. Real estate investment – REAL property investment just doesn’t work that way. It’s not a get rich quick scheme, but no business worth getting into is.
Think before you pay any of these gurus for anything or even give them your contact information. Genuinely useful information is out there and you don’t need to pay thousands for on a dubious webinar or seminar to get your hands on it. It seems obvious enough, but let me just leave you with two words about the latest batch of real estate gurus: caveat emptor.