Guru Chat (by Deanna [TX]) Jan 14, 2019 7:04 AM|
Guru Chat (by S i d [MO]) Jan 14, 2019 7:38 AM
Guru Chat (by 6x6 [TN]) Jan 14, 2019 9:53 AM
Guru Chat (by RB [MI]) Jan 14, 2019 10:11 AM
Guru Chat (by Robin [WI]) Jan 15, 2019 7:52 AM
Guru Chat (by Ray-N-Pa [PA]) Jan 17, 2019 7:13 PM
Guru Chat (by 6x6 [TN]) Jan 18, 2019 11:19 AM
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Guru Chat (by Deanna [TX]) Posted on: Jan 14, 2019 7:04 AM
Mark(NY), if you put quotes in your subject line, it locks the thread so that no one can respond. :)
Anyhow, I thought it would be interesting to see what gurus are on people's radars, and what their methods seem to be.
I generally ignore the get-rich-quick-act-now commercials on tv and the radio, because a lot of their advice tends to apply more to urban markets, or really hot places full of fellow-investors, neither of which really sounds like my poor, rural town! :)
But there was one guy who stuck in my mind. He gave seminars to his investor-students... and then encouraged them to buy houses using his finance company!
Then, when his investor-students foundered, and he had to foreclose-- he had a built-in market to flip his houses to other investor-students who would finance their purchase through him!
It was pretty clever. Not really the kind of biz I'd ever get involved with--- but it was interesting seeing that his success came, not from the speaking part, or from the RE investing part, but from encouraging his students to borrow his money. If they succeeded, he got his money back, plus substantial interest. If they failed... he succeeded even more.
No clue as to the name. But his methodology really stuck in my head. --96.46.xxx.xx
Guru Chat (by S i d [MO]) Posted on: Jan 14, 2019 7:38 AM
G.U.R.U. can mean a lot of things... I like the one "General Understanding but Relatively Useless". ;-)
MOST (not all) Gurus are salesmen at heart. Nothing wrong with that inherently, but you have to be aware they are in the business of selling materials to you. That's where they make the bulk of their money. Otherwise, if their methods were as incredible and easy to do as they say, they'd be doing that thing vs pitching seminars & mentoring programs.
To be clear, there are some GOOD Gurus...but I would say like most things 90% are shenanigans and 10% are excellent. I consider my friend Brad 20K a GREAT Guru who has in-depth understanding and offers a ton of value for a very modest price. Especially for newbies: they can save more than the price of his course probably just reading his lease and thinking about it for a day or two.
I can identify a bad guru within 20 minutes. If they have to hype you up and tell jokes for that long, odds are it will be to get you to gloss over the glaring issues and challenges with their "system", often which are merely tried and true REI methods that has been repackage.
If you like to swim in those pools, by all means go for it. Not my pint of beer. Spend you time and money to come to the Mr. LL convention and talk with LLs/REIs who are out there in the real world making amazing things happen. --173.20.xxx.xxx
Guru Chat (by 6x6 [TN]) Posted on: Jan 14, 2019 9:53 AM
I plan on seeing you there,Sid. --73.120.xx.xxx
Guru Chat (by RB [MI]) Posted on: Jan 14, 2019 10:11 AM
Real cowboy boots and successful REI's have one thing
Both are willing to walk in BS to achieve their goals.
Follow a Doer not a Dreamer.
Guru Chat (by Robin [WI]) Posted on: Jan 15, 2019 7:52 AM
One of the few courses I bought was from Larry Goins. I was very impressed at the thoroughness of the materials and the level of detail. It really is a primer that holds your hand and walks you through his approach step by step. Anyone could do it that was willing to put in the time.
That said, we've moved to a different area of investment that takes less time but requires more capital. So if anyone wants to acquire his course at a discount, let me know! :) --204.210.xxx.xxx
Guru Chat (by Ray-N-Pa [PA]) Posted on: Jan 17, 2019 7:13 PM
It is difficult to know what level the material you are going to be covering. Some students need a simple overview of the topic. I have been around for a long while. This fall it will be my 30th year. I no longer want to know how to do something, I want to know why and more importantly, how to implement a small idea into a much larger concept.
I say that in real estate knowledge, and then technology issues arise and people chuckle at my Iphone 6 plus. It still works, so there isn't a huge rush to get something with a prettier screen.
A subject area that will be hot is more important than an author. With interest rates creeping up, I will have to relearn wrap around notes and financing. I learned it when rates were at 8-10% but there hasn't been much need for it with rates at 4-5%. --72.23.xxx.xx
Guru Chat (by 6x6 [TN]) Posted on: Jan 18, 2019 11:19 AM
Ray-N-Pa, Iphone 5 s. Paid $80 new. --73.120.xx.xxx
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