Do you know what the biggest scam in real estate is? Probably not, but this scam has been happening for a long time, and so many potential real estate investors are falling victim.
What are they? Fake real estate gurus.
If you're paying for guru-marketed courses, seminars, coaching, "systems," and other (to be frank) marketing crap, that just doesn't work. There's no secret recipe in real estate investing, and an expensive course or coach will not get you where you want to be.
Ask yourself, "Why is someone charging to teach me how to make money through real estate when they can just make more money doing the real estate strategy they are trying to sell?"
A real estate guru or coach makes money off your aspirations to get into real estate but makes even more money off your fear. Unfortunately, their systems aren't unique, and most of them don't even work.
Don't attend a seminar expecting it to deliver the "secret recipe" to becoming a millionaire in real estate. Whether it's wholesaling or renovating, they make their systems look much easier than it is. Their goal is to get you hooked on big dreams and push you into spending your hard-earned savings on their system that probably won’t work for you.
If you want to learn how to make money in real estate, you need to find a mentor. But, that doesn't mean you need to pay for a mentor!
When our founder, Engelo Rumora, started his real estate journey, he worked hard to build connections and a relationship with someone with a $150 million real estate company. This relationship helped him acquire the foundational knowledge that transformed Engelo into the real estate investor he is today.
Find someone who is in the position you want to be in, build a relationship with them, and learn from their experience. Even better, find someone who owns a real estate business in which you can work and get live, practical experience.
These are the biggest scam in real estate! Potential investors are getting sucked into seminars. There are way too many people losing money on expensive scams sold by people who haven’t made that much money in real estate.
Don’t get scammed. Become a smart real estate investor.
Then, save your money so you can actually afford to buy a property when the time is right.
Getting the proper education and guidance is essential, but you don't want to throw away your hard-earned savings on fake gurus.