Success Magazine Real Estate Seminar? - Posted by Bryan Oswald

Real Estate Investing Real Estate Gurus
1

Posted by Jim Fletcher on August 29, 1999 at 15:20:03:

Where did you sign up for Success Magazine?s seminar? When will they be back to fulfill the 3-day event? Call their office and ask who the instructors will be. Repost here and see if anyone else knows these instructors. If they do, they will respond to you and you will be fully prepared for the 3-day weekend.

The question you have about Success Magazine offering financing for your deals is a tough one. When I taught and sold for them, this area seemed to be why 50% of the students in class were there. However, my knowledge concerning the financing programs was limited. I had a couple of slides and some basic information to go from because the programs were new. I do know that as long as it met the requirement given to me to display for the students, they would fund the deals. However, controversy came about on both sides.

One of the problems with nationwide funding on real estate deals is the actual facts of a deal and the facts a real estate investor wants them to be. We have found this true when we loaned our own money. Investors want high appraisal (AS-IS and Repaired Value) while the lender wants to be conservative. Investors want as much money from a loan as possible for purchase and repairs. Lenders want investors to have something in it. No problem if the lender is close by and can verify the numbers. However, on a national basis, the lender is at the mercy of the investor. I have never have questioned whether Success can fund deals. The problem is a system that the investor and lender can verify and check on a national basis. Their system may not be perfect, but if you get their financing, it is because they are able to verify in some fashion the numbers you submit.

As far as the actual 3-day seminar, keep in mind, not all speakers are the same. All speakers must sell additional products and services. My experience has been that most people do not mind the fact that they are being offered additional products and services from a company even after they have spent $1,500 or even $7,000 to attend. The question is, how much time?10%, 20%, 80% of the time?

Most speakers who say they cannot be interrupted because they have to get through the material may be telling you the truth. They say this for benefit of the others who have paid and do not want someone hogging up time for teaching. However, some do it because they have their sales pitch down and a question would lose their momentum. While others do it because they know they cannot answer the question. Regardless, make sure you get all of your questions answered even if you have to stay after class and follow them to their rooms (strike that, follow them to dinner).

Once you become a student, you will begin to realize how much the Internet can do for you. You will also begin to realize where the value is. In addition, once you come out of the 3-day seminar you will be pumped and ready to go. This is the critical point for beginners. This is where companies like CREOnline and others step in and the guru?s fail. The gurus do not believe the Internet is a good model for success. For now, let?s keep that secret between us!

Jim Fletcher

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Success Magazine Real Estate Seminar? - Posted by Bryan Oswald

Posted by Bryan Oswald on August 22, 1999 at 18:08:51:

I recently attended a two-hour seminar hosted by Success Magazine. The information was real interesting and they wanted you to purchase a kit for $1995. I was wondering if anyone has purchased this kit and believes that this a good investment?

Any information would be great as I am skeptical of a $2000 investment!

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It depends on who you get as instructors - Posted by Jim Fletcher

Posted by Jim Fletcher on August 23, 1999 at 08:51:14:

Bryan,

I would guess you heard either Steve Sitkowski or James Smith at the 1-day seminar you just attended for Success Magazine.

Spending $2,000 for a 3-day seminar is very competitive in relation to Russ Whitney, Wade Cook, and Ron LeGrand. No matter which one you choose, it really depends on which instructors the company sends.

If you get 2 instructors that spend what seems to be 90% selling and 10% teaching, you are in for a long unproductive 3 days. If the instructors spend 50% of the time selling and 50% of the time teaching, you are beginning to fall into the industry standard. The good instructors can teach 80% of the time and sell 20% of the time, mostly without the students knowing it. It all depends of the luck of the draw. If you are offended by any selling whatsoever, then do not attend any fullfillment workshop or bootcamp.

Here’s a rule of thumb: If the instructor sells alot, they tend (not always) to not have as much real experience buying and selling. If the instructor sells and teaches 50/50, they tend to have more experience but haven’t found the right combination of teaching and selling. If the instructor only teaches, he is not comfortable with asking for additional orders…and so on. Even though you may spend $2,000, most seminar attendees that I have asked say they prefer that companies tell them about additional products and services. Therefore, it is the instructors job to teach and sell. However, some take it to extremes.

Currently, Success Magazine has 4 instructing teams in play. Call and ask who they are sending as instructors and repost your findings. Let others tell you about the instructing teams.

Jim Fletcher

4

Re: Free round trip or free round trick. - Posted by J.C

Posted by J.C on August 22, 1999 at 20:20:36:

Success Magazine sent me two tickets to attend
their free real estate seminar at an area hotel.
Unfortunately the tickets where dated for July 21,
two monthes ago. I called the toll free number on
the expired ticket on Friday and asked when the
next seminar in my area would be and the customer service
rep said between 3 to 6 months. I have an obssesive interest
for real estate and every aspect of the business.
I would have loved to attend the seminar. I only wish
I could have received the free tickets in a more timely fashion.
Also, the mailing mention giving away free round trip
tickets to any destination in the world to all seminar
attendees. Where the airline ticket actually free or where
you required to purchase their $2000 kit to receive
these tickets?

5

C+ Info at best - Posted by HR

Posted by HR on August 23, 1999 at 16:52:55:

I found the Success Magazine weekend to be average, at best. You will do far better spending that money here on courses, etc. that interest you. Also, attend the cre convention… it is infinitely better than the success weekend. Just my 2 Cents. (But it is an informed 2 Cents; I’ve done all the above and am speaking from experience).

Good luck,

HR

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Who did you have as instructors? - Posted by Jim Fletcher

Posted by Jim Fletcher on August 25, 1999 at 21:02:49:

I am not sure what you mean by Success Magazine having C+ information. The books and tapes that I used to teach from had a wealth of information. It may be that you got some bad speakers. Bad speakers can take the best material and make it appear like that the company doesn’t know what they are talking about. Unfortunately, this is common with many companies.

When I first started speaking 6 years ago, someone came up to me and said that I was terrible. You talking about deflating my idea of how to teach! I did not get over it for many months. I figured since I knew my stuff, all I had to do was get up and yap with no regard to skill. Not so. Fortunately, I had some great mentors to learn from to communicate the material in such a way as not to be overwhelming, condescending, and boring. I realized, or was taught, it is not what I know, it is how you present it. Some speakers have never learned this, which could have been the reason why you had a bad experience.

What were the names of the speakers from Success?

I do agree that the upcoming Convention from this organization, Creonline, will contain a tremendous amount of information which appears to be a great value. I personally believe that most seminars are valuable if you get the right instructors/speakers.

If you could be very specific about your concerns, I may be able to determine where the problem is.

Jim Fletcher

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The speakers. - Posted by HR

Posted by HR on August 27, 1999 at 20:44:46:

Jim,

I like your style: reasoned, straighforward, respectful. It’s a pleasure to discuss this with you.

First, I agree with you that a poor speaker can kill a good program. To a certain extent, that was the situation with HomeBuyers. If you taught with Homebuyers, you will recognize these initials: BV, MW, JV, and DR. BV lead much of it, and MW did the “pep-talk” sessions, which ended up being more self talk about MW. (I don’t want to publically attack any individuals at HBOA, so I will just use initials.)

Still, in my experience, the information they presented was average. Maybe a little better than average. Hence, a C+. It was not the best I have seen or experienced, though. It was basic information, and for the information presented, it was very expensive. My point is that one can acquire basic information much more cheaply than this expensive seminar. In fact, much that they teach is available here for free. Woulden’t you agree that it is here for free?

I am certainly not against seminars. I am not against expensive seminars. I am all for “expensive” seminars which provide valuable, unique information, because those kinds of seminars pay for themselves many times over. I am not, however, supportive of seminars which provide average info at an above average price. They are not a “value.” They are grossly overvalued. Such is the case, in my opinion, with the HBOA program.

HR

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Re: The speakers. - Posted by Jim Fletcher

Posted by Jim Fletcher on August 28, 1999 at 17:39:09:

It has always been my opinion that all the information a real estate investor needs can be found on the Internet for free. You would be amazed at the volume of information some web sites have who get less than 100 page views a month. Most of these views come from me.

I do know whom you are talking about BV & MW for Success Magazine. One of these speakers worked for NSAN and Charles Givens and the other worked for Larry Pino. You got the royal sales treatment. However, these guys have been the top sales team for some time. They appear to get some negative feedback but they seem to be able to charge an audience and create sales. Before the Internet, the strategies they use may have worked to some degree, my guess is that eventually they will need to rethink their strategy concerning teaching and selling. Some have told me these guys are in the higher percentage when it comes to selling versus teaching. On the other hand, I have had many people tell me this about Ron LeGrand. When you boil it down, they do seem to create excitement and sales.

Dollar for dollar, strategy for strategy, I have my own opinion about the best value, but it would take away from my prior point; that is, if it weren?t for these guys advertising on TV, many thousands of people would not be in the business of buying and selling single family houses. If I found websites like this after I spent thousands of dollars at a seminar I probably would be upset initially but then happy that there are other sources and avenues?sort of like buying a computer today and the price drops to half next week.

Jim Fletcher

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I agree with you, Jim - Posted by HR

Posted by HR on August 29, 1999 at 09:12:01:

Jim,

These guys definately are on the sales end of the pendulum, and there is a reason for it: they generate enormous sales. At the seminar I attended, the cost was $1500 and there must have been 200 people there. I figure they had to have made at least $200,000 from that one weekend (and as you know, they do this many weekends a year). In addition, the software sold ($1500/copy) brought in an additional $200,000. Somewhere between $400-500k for the weekend – not a bad weekend’s work. With sale’s volumes like this, these guys will be employed, and in business, for a long time to come.

I also agree with your point that if it is a seminar like this that gets someone into the game, and they eventually prosper, than it wasn’t so bad a start. Just a more expensive one than they could have had. As I suspect you know and agree, though, most of the attendees will never do anything with the info (which is not the promotor’s fault), so it becomes an expensive dead end.

HBOA got me started. I attended after having done my first, profitable deal, and I was excited. The info got me going, and for that I will always be grateful. I have found better quality information here, though, thru the seminars and courses, at a much cheaper price, so I believe some of what is offered here is an even better value. I will say this for HBOA: they presented a big picture of how all the different techniques fit together into a cohesive whole (like using self-directed IRAs), and that sense of the big picture was a helpful contribution.

I also agree with the informercial statement: if it’s what gets folks into the game and they prosper, than it was worth it. While his info is basic, for instance, Carlton Sheets offers great value for the price.

I think you and I are probably on the same page on this one, Jim.

I would be curious what other web resources you have discovered. Can you post them?

HR

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Re: Question about the financing and coaching services? - Posted by Pat M

Posted by Pat M on August 29, 1999 at 14:36:33:

I attended the Success Magazine seminar yesterday and did sign up for it even though it was a sales driven presentation. I am an active real estate investor and was enticed by the talk of easy to obtain financing with relatively low down payments? I’ve lost a couple of deals because of delays with banks.

Can anyone comment on that part of the program as well as the telephone coaching?