Is there a shortcut to riches in real estate investing? Probably not.
Who are these real estate gurus who make incredible promises of real estate wealth to get you to sign up for expensive seminars and mentoring?
A good place to find out is on John Reed’s Guru Rating Site. He has made a career out of tracking the activities of real estate gurus, and evaluating their honesty and the value of their programs.
What are some common claims that the gurus use to lure you in? John Reed identifies some of the following ways to spot them:
Emphasis on luxurious life style
Universally applicable techniques
Emphasis on motivational material
Use of key words such as:
sure-fire, secret, air-tight, always, risk-free, fool proof, win-win, bulletproof, goldmine, no-brainer, and many others
Another site to check for information on get-rich-quick schemes like these is at the Federal Trade Commission. They don’t name names, but they point out the pitfalls of investing in promotions that sound too good to be true.
Ben Frankliln said,”A fool and his money are soon separated.” Watch out for expensive real estate investing “short cuts” that can leave you worse off than when you started. Do your homework before you buy into a “sure-fire” offer.