15 - Making Money in Real Estate: Investing Wisely and Avoiding Pitfalls
In this episode of Get Real Wealthy Season 4, Quentin D'Souza discusses the reality of real estate seminars and the need to be careful when signing up for them.
Quentin highlights that although some real estate seminars may be legitimate, many of them are merely ways to enroll participants in more expensive seminars. As a veteran of the industry, Quentin provides listeners with tips to make informed decisions and avoid scams.
According to Quentin, attending low-cost or free real estate seminars that cost around $100 or $200 will likely only provide a high-level overview and not much actionable information. The majority of the time is spent discussing why you should invest in real estate, how it's important, and how you can earn more money. However, the ultimate goal is to persuade attendees to invest in a more expensive course, usually offered at the end of the seminar. This is a classic example of a real estate quick money seminar.
Quentin cautions that during seminars, presenters often showcase their wealth by sharing their vacations, cars, and properties. This is done to create an association with wealth in the attendees' minds. The seminars teach how to buy a property with little to no money down, which is doable, but difficult without help and support. Even though this is achievable, it will take more than a weekend or an education course to learn the required skills. Attendees should keep this in mind.
During the seminars, the presenters ask a lot of questions to which attendees are expected to respond with a "yes." This is done to soften the audience, making them more likely to agree when an incredible offer is presented. The offer is usually valued at thousands of dollars, but the cost is only a fraction of that if purchased right away. There is typically a time limit or a limit on the number of courses available, creating scarcity. This is a component of the weekend course, and Quentin warns that this technique is used to make participants more susceptible to buying the product offered.
Quentin says that although he has learned a lot about real estate from various courses, including weekend courses, he suggests having the mindset to learn something from any course. However, he emphasizes that networking with other participants is the most important aspect, as they are on the same journey and can provide valuable insights. He suggests doing research on the presenter, checking out their website, references, and reviews to learn more about them, and warns against seminars that guarantee returns or once-in-a-lifetime opportunities, as there are no guarantees in real estate.
In conclusion, Quentin advises caution when considering attending low-cost or free seminars that include upsells at the end. If you’re interested in learning more about him, his real estate investing career, and find free resources and learning materials, you can visit, https://EducationREI.ca and https://DurhamREI.ca.
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