Those no-cash-down or get wealthy quick real estate seminars and their ilk have a tendency to prey on the innocent, the greedy, the hopeful, and the naive. Nobody is simply immune to those shysters. It doesn't say whether you're an Abu Dhabi apartment for sale who simply wants to shop for a great deal, maybe save a little cash, or an experienced real estate company who must recognize better, both sorts can get sucked in.
You've likely seen their full-web page ads splashed in your neighborhood newspaper or on your Facebook web page. They proclaim that the magical mystery tour is coming to your town, for someday only, and one phone call or click of a mouse can stabilize your reservation, however, hurry, due to the fact seats are limited!
These seminar masters of real estate secrets have a mystery all right to share with you. It's called: "Buy my books and podcasts." Moreover, what they're not sharing with you is if you observe their advice, you would possibly get sued or land in jail, because so many of these shysters make up stuff that could get an unsuspecting novice into trouble.
A little secret most human beings do not now recognize about me is within the late '70s and early '80s, I, unfortunately, represented some of these real estate professionals as their real estate brokers, a number of whom are nevertheless in the commercial enterprise today. Some are dead. I attended national real property conventions to witness first-hand the interest in the back of the scenes. Among themselves, the promoters and audio system noted these occasions as "canine and pony shows."
I'm saying:
- Don't trust them
- Don't do business with these guys
- Run far, far away.
You may additionally say this is pathetic behavior, and I could agree. I can't alternate those people's opinions, however, I hope that my phrases will prod the rest of you to live away from those scam artists. Because they are charismatic, charming and pretty believable . . . until you scratch below the surface.
Many Seminar Speakers Are Unethical
One such speaker could set up real estate companies in Dubai counseling sessions with hand-decided audiences in the target market, charging them a hefty charge for the session, in addition to representing them as a buyer's agent. He as soon as confided that his purpose turned into to "find out how much money is in my client's pocket and positioned it into [his] pocket." He wasn't joking. He is lifeless now; may additionally he relax in peace.
Other speakers pre-screened the financial manner of their audience members and positioned corresponding colored dots on their name badges. This diagnosed the economic scenario of in all likelihood suspects by the seminar speaker's crew, as the various colored dots every represented a selected pocket of cash. For example, people with pink dots might have $100,000 to invest; whereas those with blue dots might have much less than $10,000 inside the bank. The seminar organization didn't want to waste time talking to people with the blue dots.
Seminar Gurus Fabricate and Stretch the Truth
At a luncheon one afternoon, I changed into seated next to a widely known legal professional whom I used to respect. During the path of our conversation, I mentioned a specific method I discovered that advocated tenants to shop for real estate. Right after lunch I walked by this guy's seminar room and heard him sharing my idea together with his class, claiming to have prepared such a transaction himself, whilst in truth he had not. Bald-faced lie. He may want to have without problems advising the reality, but apparently, as an officer of the court, outright lies didn't count numbers to him.
Another snake oil salesman often claimed that he owned assets in 32 states. He repeated this declaration over and over until he himself believed it, but the fact changed into he owned nothing. No real estate at all. But no one ever questioned him. He'd nevertheless be selling real estate today however he currently died.
Do the Money-Making Ideas Actually Work?
Yes. Some are feasible; some have never been executed; a few are towards the law. But can you inform the difference? Probably not. Can you do it? It's unlikely. The techniques aren't geared toward the average investor no matter the promises and hype. Want more information? John T. Reed keeps a notable Web site that exposes seminar frauds.
