From: J024330@LMSC5.IS.LMSC.LOCKHEED.COM
Subject: Re: Semonars are bad ? Why ?
Organization: Lockheed Missiles & Space Company, Inc.
Date: Fri, 22 Jan 93 07:01:11 PST

In Message-ID: <C17sEr.C3t@austin.ibm.com>
alexg@austin.ibm.com (Alex Gurevich) writes:

>There is such a pessimism coming out of this group to beginners in
>discussing those seminars.  I have yet to see a single positive comment.

That's because you have yet to see someone who has gotten rich off this
tripe.

>A great number of people right now think of getting or not getting
>involved in real estate, perhaps just before of after attending one of
>the free introductory events where they sell their and others success
>stories. Boy, they make nvesting in real estate and ripping big profits
>so much fun, so easy and quick on these events, it's almost irresistable.

Yes, the free introductory events are interesting, but you must remember
the purpose of the free seminar is to sell a more expensive seminar.

                      -Stuff Deleted-

>What I heard on the network about the seminars so far I'd categorize into
>two groups:
>
>1. Enjoyed being on the (FREE or introductory, $25) seminar(s). That
>was very interesting, exciting staff. But have not signed up for more
>expensive several days package they were selling. (No mentioning of
>whether a person tried to learn more on his own, do something of what
>(s)he heard about, succeeded or failed, and why.)

Er, I'm the guy you wrote about in a few paragraphs down.  I think my
previous post answered this question.

>2. Signed up for the seminar, spent $1500-4500.  Sure listened to all
>they taught there, started trying that. After spending a lot of time and
>efforts realized this is all phoney and they just ripped me off. Some
>recognize they'd have to compete with full time professionals with cash
>or credit. This just can't be done by an average person without much
>cash and good credit for whom these seminars are designed.
>
>Of course the advice is offered to avoid them altogether, try to sue to
>get your money back, or "do what I did", that is, go get a real estate
>license in a community college for much less money, learn ten times more,
>and rack up $3.5K a month from home sales part time.

Yup, that's me, I went to the community college and made a good part time
income.  Check out the ID line.  See the company name?  Well, I just got
my notice to find another job in the company because my position is going
away.  A few weeks ago I put my license back to work and have two trans-
actions in escrow.  It's a great fall back position.  :-)

>These could be all flavored by some horror stories about life time savings
>of a little old lady lost while acting in pursuit of real estate riches
>based on the advise of seminar speakers..

Yup, I wrote that again.

>..FLAME ON  (Sorry, just can't   miss this particular one.)

Water hose on.

>Would you spend $75K of your life time savings if a stock broker called
>you with a SUPER BUY penny-stock that (in his opinion ) could double in
>4 months??? And if you did and lost money would you blame that broker ?
>If so you are insane. Same thing with little old lady.

People do it every day.  Remember the Lincoln Savings and Loan scandal?
There are a lot of silver tongued devils out there.  I'm sure you've never
been taken in your life?

>- They DO tell on those seminars that a foreclosure auction is a very
>technical procedure with a lot of little details you have to learn first,
>and if you miss something you're gonna screw up.

What?  They don't teach you those technical procedures for your $1500-$4500?
I thought you would come out an expert and could get rich.  At least that's
what they represent in these freebee seminars.

>- They DO tell first go buy at least one house on a regular contract just
>to learn what's involved.

Man.....what a way to get rich quick.  Purchase a house at retail prices
to learn what's involved?  I think I'd opt to work in the field to learn
what's involved, not risk a 10-20% down payment and get stuck with a 30
year mortgage.  Yup, this makes sense to me.  Anyone who wants to follow this
advise, call me, I'll be glad to make the commission.

>- They DO tell you'd have to go to auctions several times and just watch,
>do not bid, ask trustee all questions you can think of, learn your state's
>foreclosure procedures.

I think for the price they charge, they should take you through your state's
foreclosure procedures.  When I first got into this stuff, (remember I bought
the books and tapes, and attended the seminars), I did just this.  The
auctioneer really didn't want to take the time to answer questions.  He's a
working stiff like the rest of us.

>- They DO tell you to order a title search on the property or
>do it yourself if you can to make sure there are no other liens.

Title searches do not guarantee free and clear title.  An owner can have
a general lien placed against his name, which by default is attached to any
and all property he owns.  Even the professionals (title insurance companies)
can miss these.  That's why they sell TITLE INSURANCE.  I looked as a very
promising property in Campbell, CA.  Market value of $225,000, in foreclosure
for $150,000.  Just for the heck of it, I ordered a preliminary title report
($200).  Every thing looked in order.  Then, I made a call to the IRS.  They
had an unrecorded lien against the property because they had a deficiency
judgement against the owner.  The lien was only $45,000.  But it was
enough to make the property not worth investing in.

>And now Tom Vu  or the likes are at fault that somebody screws up ?
>EXCUUUUUSE me. Don't blame the recipe, blame the cook, the CHAIRMAN OF
>THE BOARD OF YOU ICORPORATED.

When these Yayhoos represent that you'll be able to walk away from their
seminar with the knowledge to be successful, then they are to blame.  Tom
Voo is not the recipe, he's the cook.  The knowledge he's trying to impart
is the recipe.  The only thing is he leaves out a lot of important ingredients.

>..FLAME OFF

Water hose off.

>Happy bargain hunting.

Best wishes in your career too.  :-)