From: alexg@austin.ibm.com (Alex Gurevich)
Subject: Seminars: overview
Originator: alexg@madrid.austin.ibm.com
Date: Thu, 21 Jan 1993 17:27:32 GMT
Reply-To: alexg@austin.ibm.com
Organization: IBM Austin



Now let's look at those seminars as they really are. Let's list their bad and
good qualities. Opinions are based on the Robert Allen's seminar I attended
and tapes and printed materials from Charles Givens, Dave Del Dotto, Mike 
& Irene Milin, Nick Koon, Wade Cook, Barnie Zick, etc. I read or 
listened to.

BAD ONES:

- Failure to acknowledge time and efforts required at the time the materials
are sold. Most of the stuff is sold as "get rich quick". Later some of them 
DO tell it's gonna take ..., however it's a little late, 'cause the money 
is aready spent.

- Those that run nationwide tend to be somewhat generic. They teach a lot
of financing technics most of which may not be applicable to your market
place. 

- They talk about some types of lenders that don't even exist in your 
area. This can be discouraging when you count on something and later can't
find it. 

- Some of the strategies can't be implemented or may not be applicable 
at given time in your area and you'll have to figure out what works on your 
own.

- If the follow up hot line or other service is provided it is usually very
poor .

- Only brief mentioning that real estate is a monster. There're so many 
different parts to it: lenders/financing, title and ways of holding it,
sydications/partnerships, landlord/tenat law and relashionships, contracts
and how to write them properly, effective negotiating which is critical to
one's ability to get what (s)he needs, foreclosed real estate and how to
deal with bankers, real estate auctions: IRS, FDIC, RTC, Tax sales, trustee
sales, HUD, VA, etc., real estate taxation, constraction, renovation, 
rehabilitation, land acquisition/development/building, ... on and on and on. 

And you are expected to learn and do a lot of that in your spare time, 
after your work/school, and after a family (if you have one) has been 
taken care of.

- Very, vey expensive. Last but not least.

GOOD ONES:

- A broad range of real estate investment information is delivered 
during seminars and in books and tapes included in the package and availabe
for sale on the seminars. So you are loaded with a bunch of stuff to
learn and do long after seminar finished.

- Ability to ask live speaker questions during seminars. You mostly ask
what you did not understand during a lecture or in the manual. Unfortunately, 
if you are a beginner, you will be so overwhelmed with the info you get 
that you just won't know what else to ask. You are not ready yet for 
some serious specific questions.

- Networking, that is, exchanging business cards and creating a lot of
contacts with other people involved in the real estate industry: appraisers,
carpenters, contractors, loan officers, real estate licensees, cabinet makers,
cash partners, etc. I really did not realize the importance of that at 
the time and I am missing that a lot now. 

- Opportunity to create a group of people in your area with the same seminar
experience. You can have regular meetings and exchange ideas/inforamtion, or
even pursue some parnership deals together. One of the most important factors
of such investment gathering is, of course, moral support that members provide
to each other. It is especially important in the beginning, when thing are
tough, nothing seems to work, frustration/dicouragement are high and you 
are kinda thinking of quitting. When you see other people still work it 
hard, you tend to rub off on them and you keep doing it.

So all in all. Real estate is NOT a get rich quick by all means. For those 
who think it is, better not get involved. A lot of time and efforts are 
required. But there are some rewards for those who persist. 

- Is real estate for real ? It sure is.

- Is real estate the best alternative? Who knows.

- Are seminars a good way to learn about r.e. investing ? They certainly are
a very good start (remember just a start), and they are very expensive too. 
If you feel like "doing" until you succeed (whatever it takes), seminars
will get you up to speed faster. (Just a personal opinion.)

If you feel like "trying", books in the library is a cheaper way to learn 
basics. At least you will have to blame nobody but yourself for your 
own failures. And you won't get too emotional about seminar promoters.

Happy bargain hunting.

- Alex Gurevich     alexg@austin.ibm.com
Newsgroups: misc.invest.real-estate