Posted by Ed in Idaho on July 03, 2008 at 24:19:29:
Thanks Rick! Always like your insight…totally agree! But it is late and I’m having a total brain fart on the feet thing. Care to elaborate? You know, in case a ‘newbie’ (like myself) doesn’t understand what you mean.
nouvie riche - Posted by arnulfo
Posted by arnulfo on July 02, 2008 at 20:31:21:
Hello, my name is Arnulfo and I have been trying to break into the realestate game for a few years now. I have worked with a few private investors and a few who own there own firms here in the Chicago area.I have scouted thousands of properties for the auction sales and after the aquisition approached the occupants to either negotiate rent or removal. I have sat on the sidelines for a few years always wanting to get in the game but have continued to fail. I love realestate and all I have done in it I believe I can do something now that I have a small constuction business.The reason I am writing is because I continue to run across a circle of people who want me to go to a college in pheonix to get pluged into a so called country club circle. Is there any one out there who can help me understand if this is a wise way to go or if I am getting caught up in a realestate trend.I have turned down going already but if this is a decent way maybe I should Or with this advice website is there anyone who can give me some insight or new light to my fustration on how I or even if I should keep trying to do this realestate thing. Thank you
Re: nouvie riche - Posted by M. Osterman
Posted by M. Osterman on July 13, 2008 at 05:50:43:
You could also take real estate classes at the community college. It’s a
great inexpensive way to understand the process.
Re: nouvie riche - Posted by Ed in Idaho
Posted by Ed in Idaho on July 02, 2008 at 23:13:58:
I am not in NR, but I know some people who are. It has its place just like any other course, guru, mentor, rip-off does. It is all in what you do with it once you get it.
They have changed quite a bit from their beginning. They no longer try to get the hottest ‘guru’ or ‘popular investor’ to teach their material. Those types were more interested in pedaling their own products. Instead, now the classes are basically taught by average joes who are in that particular business. This is done in a somewhat ‘college’ type atmosphere probably because a majority of people are used to that.
Yes it does have a MLM feel to it because a lot of the people making money in NR are doing it by getting others to go to the school and buying the complete $16k-$20k package. Or they are selling different types of ‘products’ of NR. But for some people, one of which I personally know of, that is a great business for him and he is making a killing in that area.
They also have other tools (products, features) that NR graduates can use that seem very interesting. I have yet to see them in action myself, but probably will in the near future. I’ll try to give an update on those when I can.
Then we get to the actual ‘meat and potatoes’ schoolin’. Yes you can probably get every bit of information for free here on this site or other places. But some people learn well on their own…and some don’t. The school idea may be what gets things in gear for them.
But take it for what it is because I personally don’t think that they are trying to hide anything. They seem pretty up front to me. They admit themselves that only 5 % to 10% (something like that) of the people who go thru NR will actually do anything with it.
So bottom line is for you to do your ‘due diligence’ on NR and decide if there is anything there for you. Could be the whole package, maybe just one course or book, maybe nothing at all. I myself will just keep NR people in my network, see what they have going once in a while, who knows what the future holds. Just know that I have seen success from NR here locally, and probably failure too, but they are new enough in the area to not judge that quite yet.
It’s one of those ‘ask 10 people get10 different answers’ things.
Re: nouvie riche - Posted by Phil
Posted by Phil on July 02, 2008 at 20:45:39:
Why pay for the advice that you can get from the investors you worked with. I also in chicago, IL and I came arcoss this company and I dont trust them at all. 16,000 is alot, Learn from some real investors in you own market. We have some of the top performers here in chicago. Go out to a real estate club and start networking, people will take you serious if you show them you are passionate. Just ask yourself why? why pay that much for something you can get for free. I been wholesaling here in chicago for about two years, my investors who I wholesale to I get info from them. AND ITS FREE!!! Pick your investors brain and dont get rip off by this so called real estate school they are all about marketing thats it thats all. Save your money, you have this website and others that give you free info why pay?
Re: nouveaux riche - Posted by Rick, the Probate Guy
Posted by Rick, the Probate Guy on July 02, 2008 at 23:51:36:
Ed - your 3rd sentence, first paragraph says it. It’s really about taking action.
I just got back from hearing well-known So Cal investor Tony Alvarez speak at the Commonwealth Club in OC. Did a great job; nothing fancy but had a great message.
I’m not at all opposed to spending good money on training, however my own experience is that, with only a couple of exceptions (Ward Hanigan, Bruce Norris come to mind) most of the $1,000+ courses are a waste of money.
For one, for someone who is brand new (i.e., fresh meat), all of the material is new and exciting, but difficult to absorb in short order, let along see it for what it’s worth. The reality is that most of the bootcamp courses really don’t prepare you to do anything in real life.
They can have you walk over all of the red-hot coals in the world, and if you, as a new investor wannabee, don’t take enough of the right kind of action, the money is wasted.
I spoke a summer or two ago at this character’s bootcamp in Vegas (no names) and looking at the faces of the students I realized that maybe one or none of these students will ever so much as send out a letter or make a phone call. They got “sold” when the other guru had the guru in question cross-sell his overpriced course. It was pathetic. Some of the attendees couldn’t even speak English (so I don’t know how they understood the speaker).
So, I’m not trying to pick on any one course, but taking a $16K course on real estate investing will probably end being a $16K course on something else as a lesson in life. And what’s even more sad, is that most of the people buying these courses can’t afford to pay the tuition without tremendous personal sacrifice.
Attend a local investment club for $20, find out other meetings, pay attention, take good notes, find out what the winners are really doing (hint: they will often NOT be the best dressed people).
And most importantly, if you really want to know what people are thinking, watch their feet!
Re: nouveaux riche - Posted by arnulfo
Posted by arnulfo on July 03, 2008 at 07:42:09:
Rick, great advice. The pavement or the way successful people move and shake is also the way to take good note of and follow. I have decided that even though I do not have all the resources I need now to make a living solely from realestate I can definetly associate with those who are and watch what they do and were they go. I will be one to watch were those shoes go.