From: alexg@austin.ibm.com (Alex Gurevich)
Subject: Semonars are bad ? Why ?
Originator: alexg@madrid.austin.ibm.com
Date: Thu, 21 Jan 1993 17:25:38 GMT
Reply-To: alexg@austin.ibm.com
Organization: IBM Austin



I have been following (and participating) in one of the latest threads
about different real estate investment seminars run by speakers like 
Del Dotto, Mike & Irene Milin, Allen, Givens, Vu, etc.

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.

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. 

However, with so many different scams around one is very careful of 
spending serious money required to buy the whole training package. Some 
folks perhaps read articles here in search for the answer and sure enough 
after seeing all these negative posts they will be turned off.

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.)

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.

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..

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

- 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. 

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

- 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. 

- 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.

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.

.FLAME OFF


Happy bargain hunting.

- Alex Gurevich     alexg@austin.ibm.com