Real Estate is a very lucrative profession.
However it is not a get rich scheme.
Which is why many of the people who are successful at it had to work for many years to build up their reputation, experience, and expertise.
After a while, these successful people become gurus who want to teach others what they do.
But many times, when they become gurus, they teach the process to be successful, but they:
So look out for these 5 Red Flags when hiring someone to teach you Real Estate Investing.
This is a HUGE red flag as how is someone who is supposed to teach you to be successful as a real estate investor in your town if they aren’t a real estate investor in your town?
That’s why you have to look out for this major red flag as the laws from state to state change dramatically. And what works in one will get you into prison in another. Which is why it is so important to have someone local who knows the market. They can help you avoid costly mistakes. But ultimately train you to become successful as a real estate investor.
Many of the members of the Matrix Investment Network have been to other gurus seminars, some have even PURCHASED their education programs. What they experienced was not what they expected at all as they did not receive the support they were promised. They did not have a one-on-one mentor to help them become successful as real estate investors. But instead were told to buy the next book, cd box set, or other piece of “education” material for success. And NOT hands-on training with a teacher or mentor they needed to help them when they hit a snag.
So if you feel your being upsold to the next program because it’s that much “better”. It’s a red flag because why do they even offer the lower education programs if they won’t give you a little success?
Many gurus will teach you the concepts to become a real estate investor, but they never teach you the nitty-gritty details that will allow you to be successful. They won’t tell you how to do a double escrow to wholesale. They won’t tell you how to fix and flip while getting the proper permits from the city. They won’t tell you step-by-step how to be successful.
This is why it’s imperative to ask the guru questions to see if they know what they are talking about. Not just giving you a conceptual idea of how to be successful in real estate, and actually knows how to do it.
This red flag becomes apparent once you ask the guru, “When was your last deal in our town?”
If they haven’t done a single deal in your town or have, but haven’t done it in years. It’s time to raise the red flag as this guru just sells real estate training and doesn’t actually work as an investor anymore.
Meaning they don’t know the changes in laws (change constantly), can’t support you when you’re in the field, and don’t have the contacts to help you be successful as they aren’t in the game anymore.
That’s why you need to make sure your real estate investor trainer is actually doing deals and isn’t just selling you training off of a “hyped” reputation.
The last red flag you need to look out for is hard-selling gurus that will do anything to sell you on their product. They care more about you giving them a large lump sum of money than whether or not you can afford it. You can spot these gurus a mile away when they start using these hard sale tactics and you ask yourself these questions….
Look out for these red flags when deciding your real estate investor education and mentors. If it sounds too good to be true, it probably is. That is why you need to know what to look for to save yourself from a guru who may have no idea how to actually make you successful in real estate investing.