Are Real estate seminars in Barrie & Toronto a Scam?

Maybe ‘scam’ is a harsh word, let’s say, ‘less than fulfilling’. While real estate can be a very good investment vehicle worth considering, some people are now offering real estate seminars in Barrie and Toronto that make outrageous get rich quick promises. Many people are attracted to the prospect of making thousands of dollars on properties after investing a small amount of money. You can end up investing hundreds and even thousands of dollars for these seminars that tell you there is fast money in real estate. While some seminars are legit, some are a scam….err  ‘less than fulfilling’.

The first thing I would say is that investing in the Barrie real estate market is worthwhile and has been worthwhile for a number of years. The market here is relatively stable and although you are unlikely to see amazing capital appreciation over a short period, you are more than likely going to have a steady investment. Properties here typically cash flow but only just. barrie investment real estate

There are genuine seminars that educate investors on the real estate industry without making guarantees of quick wealth. Tread cautiously if you see ads promoting ‘investment secrets’ and ‘risk free investments’. It is possible to make some serious money investing in real estate but temper it with a dose a realism, understand the risks before investing and also understand your own investment outlook. What’s your time horizon, indeed ask yourself, what exactly is ‘risk’? If you don’t know what the risks are then find someone who has done it before and ask. It’s unlikely that you will have the answers to ‘risk’ answered at a seminar.

Here are some questions to ask yourself before attending any of these seminars.

Can the speaker show real experience that he has made money from real estate investments? Is the speaker a speaker or an investor?

The speaker should be able to provide real proof that he has used the information he is offering to make wealth. Proper information and recommendations about the speaker should be provided with accurate contacts that can be investigated further. Be weary of speakers who use religion to gain credibility.

Is proper information provided prior to or at the seminar?

Most advertisements about a seminar tend to focus on the good things without giving real information. A beautiful picture of wealth and luxury is painted without any real information on how to get there. Good real estate seminars in Barrie and Toronto should give you details on what you would have to do to make a profit and mistakes you should avoid. The objectives and the discussion points of the seminar should be clearly spelt out in advance.

What materials are provided?

Many seminars offer books and CDs for sale. Ensure that the materials provided are useful and written by well-known authors. Read through the first few pages and go through the table of contents. This will give you a good idea about the material and what it covers. Many of these real estate seminars in Barrie and Toronto are simply used as avenues to sell more books and CDs while offering no real information. Be aware of the up-sell!

What’s an up-sell?

Many seminars, not just real estate ones, often start off with a free 2-3 hour session where you will learn ‘the secrets of the rich’. Typically you may be told that something is possible, without actually obtaining any real information about ‘how’ it’s possible. The ‘how’ is the important bit. The seminar speaker often attempts to ‘qualify’ his audience by saying something like ‘for the serious investor we have an advanced course…..’. What he means is, ‘for those of you with some money to burn we have another avenue!’. OK, that’s a bit harsh, there often is some extra value information, but I would caution about blindly investing $30k-$100k on ‘information’. Think about it this way, if you invest $100,000 into a property and your investment yield 10% a year that’s $10,000 a year. If the course costs you $50,000 to take that’s 5 years of profit to pay for the course alone!  So for the record, let me say right here that ‘Real Estate secrets don’t exist’. There are no secrets, just a lack of knowledge.  The distinction is important between the two. A secret implies that no one else knows about it, or it’s available to the select few.  Another phrase that comes to mind is, ‘the grass is always greener on the other side of the fence!!’ hmm. So if there are really no secrets then it comes down to a lack of knowledge, and the foundation of a lack of knowledge leads to fear (perceived risk) and hence you don’t do anything, except go to seminars. Research quickly your subject and you will find most of what you need to find. There is nothing wrong with attending seminars, you may speed up your research process, but do your own research. If you don’t feel comfortable doing your research or you don’t understand what you find or don’t wish to understand, then find a mentor or a joint venture partner who does. The barrie real estate market holds many possibilities as do other markets but you don’t need to spend thousands in education before you buy yourself an investment property. Find a good Barrie realtor who understands investing and you will probably find as much, if not more knowledge then you need to make a decision.

Barrie real estate

Remember, legitimate seminars will focus on giving you step by step guidelines and solutions without making wild promises. Proper references will be provided, and speakers will be well known successful individuals in the real estate field.

If you would like to know more about investing in Barrie real estate, or other real estate markets please don’t hesitate to give us a call, we are active investors as well as Realtors.

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