Long answer from someone who’s been there - Posted by Jeff M.
Posted by Jeff M. on April 07, 2004 at 10:54:48:
Sounds like the same SDI seminar I attended. I’ve got mixed reviews. You’ll get good information, but its just another sales pitch for the next step in education with SDI (which, by the way, Russ is running SDI now. Ron LeGrand is on the CD’s, but Whitney is the one behind SDI. LeGrand left the company a while back, from what I hear.)
I did the same thing last fall. I even split the cost with a friend who went with me (who still hasn’t paid me back for his half). I will say this: the Ron LeGrand CD’s are priceless. There is tons of great information and strategies on those CD’s that will keep you informed on all sides of Real Estate Investing. Listen to them. Like a total dolt, I listened to almost all of the first book worth of CD’s, and I put them down for a few months. About a month ago, I picked them up and started over again with them. Ron has a great angle on investing and his approach is original. His material is worth a good chunk of your investment.
The 3-day seminar is also informative. You should be prepared to take a lot of notes, and by all means, PARTICIPATE in the seminar. This means, doing homework, taking part in group discussions, talk with the other investors they will have there. They are a valuable asset to the experience. Here’s the other side of the coin. By day 2 they’ll be trying to sell you additional seminars to attend, which cost much, much more than what your 3-day course will cost. Some as high as over $30,000. Believe it. You can look at it two ways. The one way is that you’ve already invested $1500 into the seminar, you’ve got ample materials to get started with, and you don’t want to spend any more thousands of dollars on Whitney’s other seminars (which are held in other parts of the country. You have to do the travelling and pay for your lodging, etc.) and software. You’d much rather get started with what you’ve got. And that’s fine.
On the other hand, you can’t put a price on a good education. Especially if it pays for itself in one deal. Then again, you’d better be sure that you make a deal happen. Otherwise, your entire investment is lost, and I don’t know about you, but I just hate wasting thousands of dollars. So the education is worth only what you make of it.
I personally stopped after the 3-day seminar. I got a lot of information there, I got Ron LeGrand’s Cashflow Systems package which contains all the info you need on Wholesale/Retail, For Sale By Owner, and Lease Options. I’m almost done with the Wholesale/Retail book and CD set and that’s where I plan to start. I have very little money and I’ve been told that it’s the best place to start out. I’ve been reading books on real estate for over a year now, soaking up as much as I can. I’ve joined my local Real Estate Investors Association, and I’m working with a realtor in finding ugly, vacant houses. But I’m still a newbie. I haven’t done any deals yet. The most I’ve done was look at properties, and talk with my realtor. I have limited tools to work with since I got married and moved out of mom and dad’s house. I don’t have a computer or fax machine at home. I do all of my tech stuff at work. All I can really do at home is read and listen to Ron’s CD’s, and that’s suiting me fine for right now.
Would I have been more motivated if I had attended Russ Whitney’s other workshops? Possibly. On some of them, you get on a bus and go to different properties and do things hands-on, which we didn’t do in our 3-day seminar. I can’t say whether or not I would be better off had I gone to the additional training camps. I have heard mixed reviews about Whitney himself. I’ve read two of his books and his techniques are basically the same as Ron LeGrand or Carleton Sheets, so I really can’t say anything bad about him. You may not get the same reviews about him from someone who may have spent tens of thousands of dollars on his Millionaire University camp, though. His company practices aren’t getting widespread praise either. Take it with a grain of salt, I guess.
The only thing else I can say is get some wrist excersise before that seminar because you’ll be taking notes like no other. Good luck!
Jeff M.