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A bad experience with American RE seminar

timallix

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I am just starting out on my real estate investing career. This past weekend, a friend and fellow investor, his father and I attended a 3 day seminar put on by the Russ Whitney Real Estate Training Academy. My friend had bought a training package with books and and audio CD set, and part of the package was an invitation to attend; I was invited to attend as a guest at a cost of $525. Although pricey, I thought that as I am in the middle of putting in an offer on an investment house in Fort St John, it wouldn`t hurt to attend and pick up some training.


To say that the three of us were disappointed in the seminar would be to put grossly understate it. My feeling is that we were conned into a greedy sales pitch, at great personal expense, to join in their advanced training programs. When the prices were announce, we almost fell out of our chairs! The premium offering is priced at $63,260, but if we signed up right away, a reduced "savings" price of $42,690. What a rip off! As for the seminar itself, the presenter spent most of his time trying to tug at our heartstrings with sob stories of rags to riches, and poor little black boys growing up in poverty. What we got in terms of useful information could have been presented in a one day class, and even then the information was grossly over-simplified and general to the extreme.


I have several friends who are successful real estate investors already, one of whom was also attending this class. We agreed that most of the information presented at this seminar is for rank beginners who are hoping to achieve success with no money down. That the classes that were being pitched at prices that could easily amount to a down payment on one or maybe even two properties indicates to me that the the Russ Whitney Academy is nothing but an unethical pile of poop.


At the end of the three day seminar, we searched the internet to see if we could find reviews from others who have attended these classes, and we were overwhelmed at the number of dissatisfied attendees. I then decided to search for books that might have more focused information that would of real world value to the canadian investor, and this morning I decided to buy two of your books, Real Estate Investing in Canada, and 97 Tips For Canadian Real Estate Investors. By the time I had read up to page 70 of your book as I rode the bus home, I realized that your book offered more value, by quantum leaps, than the information presented to us at the 3 day seminar. I have already created your Goldmine Scorecard as an Excel spreadsheet and intend on using it on all my investment prospects, and again, this tool alone is more valuable than anything that I got from the 3 day seminar.


I have just signed up for your newsletter, and I would like to humbly suggest that you consider for a topic in one of your future newsletters, a warning to your readers of rip-off sales campaigns such as the one presented by the Russ Whitney Real Estate Training Academy.
 

BMironov

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Hi timallix,
QUOTE (timallix @ Sep 30 2007, 09:18 PM) The premium offering is priced at $63,260, but if we signed up right away, a reduced "savings" price of $42,690.

Thank you very much for sharing these dollar numbers. Don keep saying that REIN is NOT
about "some sales that happen in the back of the room. And if you do it now you can get healthy discounts".

I`m a REIN member for more than 1 year now and feel extremely lucky that this community is my first real estate group of people and the best. I feel extremely lucky that my search for such community took me directly here skipping all "those groups" that you are talking about.

Mr. Don Campbell, Thank you very much for putting REIN together.

Sincerely,
Boris Mironov
 

bluerockgroup

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Timallix,

Thanks for sharing! I had a similar experience when I went to the `Learning Annex` in NY, NY of November 2006. It was one week after I completed Quickstart in Edmonton and let`s just say the difference was night and day. I enjoyed the keynote speakers in NY like Anthony Robins, Robert Kiyosaki and to a lesser degree Donald Trump but the break out classes were a joke. Their focus was all about rushing to the back to purchase there system of CDs, manuals and coaching and not about fundamental real estate investing. The one that stands out the most was where `expert` has the whole room chanting `FREE CRUISE! FREE CRUISE!` as an incentive for the whole room if like 500 people signed up for his program in the next 15 minutes. After that truly disgusting experience, I decided that it would be best to skip out on the break out sessions and explore NY City instead. I honestly learned more by walking around the city than I could have in the classes.

I left NY with my head held high and proud that I had not only joined REIN but was able to compare it to another real estate investing organization and feel completely confident in my decision. Within 2 months of my return, I signed offers on my first 3 properties and have never looked back. I took action on the solid foundation that REIN helped me build.

Thank you Don and company.
-Grant
 

RealtyConnect

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Hey Grant, I totally agree with your assessment of the Learning Annex Wealth Expo. I saw it in Toronto. Most of these guys try to persuade their audience with personality. That guy with the free cruise offer was the worst. When he was handing out the passes for his cruise after people had signed up for whatever he was hawking, he said `Bon Voyage` to each, even though he still had his headset on and so it was coming out over the loudspeaker to the room of 4000 or so. He just kept saying `Bon Voyage` over and over again for about 10-15 minutes until people started chanting for Trump, which shut him up.

I`m surprised Tom Vu wasn`t one of the keynotes. The expo`s tie in with The Secret DVD/book was just as bad as the RE speakers. The Secret waters down its subject matter as much as these RE hucksters.

I think the Learning Annex expo is a far bigger scam than any of these individual RE teachers like Whitney because its essentially a big group of these infomercialists wrapped up in a package and sold to the masses by leveraging the credibility of big names like Donald Trump and Tony Robbins. They pull it off by having these undercard speakers pay thousands to be there and then paying the 2-3 keynotes big bucks (Trump got $1.5 million for his presentation). Then they advertise it like crazy everywhere and got 50000 to attend. I wrote a lengthy review of my experience at the expo at:

http://musings.realty-connect.us
 

smallfry

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Dear Timallix:

I am sorry to hear that you had a bad experience with Russ Whitney. I have been a long time student and loyal follower of Russ Whitney. I discovered Whitney before I found out about REIN and it really helped me to learn real estate investing, build a portfolio, develop a strong network of fellow investors, and totally change my financial situation. As in anything in life you get what you pay for and sometimes when you have your money into something it is a call to action. The instructors in Whitney Canada are unbelievable real estate investors and I feel blessed to have had them as mentors and friends. There are several Whitney students in REIN and we feel very fortunate to have been given the knowledge from both venues and are very appreciative to have the ongoing networking in both. I will forward your concerns to the GM of Whitney Canada.

Sincerely
Smallfry
 

timallix

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QUOTE (smallfry @ Oct 7 2007, 08:39 PM) Dear Timallix:

I am sorry to hear that you had a bad experience with Russ Whitney. I have been a long time student and loyal follower of Russ Whitney. I discovered Whitney before I found out about REIN and it really helped me to learn real estate investing, build a portfolio, develop a strong network of fellow investors, and totally change my financial situation. As in anything in life you get what you pay for and sometimes when you have your money into something it is a call to action. The instructors in Whitney Canada are unbelievable real estate investors and I feel blessed to have had them as mentors and friends. There are several Whitney students in REIN and we feel very fortunate to have been given the knowledge from both venues and are very appreciative to have the ongoing networking in both. I will forward your concerns to the GM of Whitney Canada.

Sincerely
Smallfry

Sorry, not convinced that you too weren`t conned. What do you suppose these guys do with the half million $$$ they rake in when a dozen people sign up for their overpriced courses? Why, they buy more real estate with it - no money down! Not their money anyway - Yours! See how it works?
 

smallfry

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QUOTE (timallix @ Oct 7 2007, 11:26 PM)
Sorry, not convinced that you too weren't conned. What do you suppose these guys do with the half million $$$ they rake in when a dozen people sign up for their overpriced courses? Why, they buy more real estate with it - no money down! Not their money anyway - Yours! See how it works?




Hi Timallix:



Sorry you feel that I was conned. I am a Hall of Fame Award Winner and I am on TV commercials for Russ Whitney so I can tell you with credibility that Whitney opened my world to real estate investing that I would never have known. I am not a stupid person as I am a chartered accountant by profession and not easily conned. There is a price to pay for private education and a cost to attracting real estate trainers as they can make alot more money doing real estate than teaching it. Unfortunately you only went to the introductory instruction and I can see how you may not have seen too much value as you were already probably fairly knowledgeable. As for Russ Whitney, he makes most of his money in land syndications. He continues to run the education part of the company to give back and change lives.
 

ScottWright

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QUOTE (smallfry @ Oct 8 2007, 03:42 PM)
As for Russ Whitney, he makes most of his money in land syndications. He continues to run the education part of the company to give back and change lives.




I attended the introductory weekend course for Russ Whitney in Ottawa a couple of years ago, before joining REIN. I had a few years' experience in REI before attending, and to be as fair as possible to Whitney, there was some content in that course that I did find useful. However, it was not nearly the value I had been led to believe, as I was expecting to learn the "System" at that session (in the way Quickstart approaches REI). The system was not there, but the upsells were.



I know the mentors are experienced investors and good teachers. However, I found the marketing approach used by Whitney is, at best, manipulation. It hits you at the end of the first day, when you realize they've taught you how to negotiate with your credit card company for a lower rate and higher limit (so you can put the cost of the upsell courses on your credit card!), and you also realize why they were careful to warn people against "talking to each other in groups" because there were always "nay-sayers" who would tell you why it wouldn't work. They are very smooth and clever about protecting their pitch.



As for "Giving Back", I fail to see how Whitney can even let people believe that's what he's doing, let a lone say it out loud, given what he charges people for an upsell weekend with a sprinkling of REI tips.



In the end, I decided that while there may have been value in going one step further to learn "The System", I could probably continue doing what I was doing and learn it in a bit longer timeframe for a lot less money. Then I found out about REIN, and it has proven to be true.



But whether it's REIN or Whitney, nobody will get to the dream they envision without great persistence, constant learning, and always seeking to grow their relationships.
 

grhutchings

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QUOTE (ScottWright @ Oct 8 2007, 11:30 PM) I attended the introductory weekend course for Russ Whitney in Ottawa a couple of years ago, before joining REIN. I had a few years` experience in REI before attending, and to be as fair as possible to Whitney, there was some content in that course that I did find useful. However, it was not nearly the value I had been led to believe, as I was expecting to learn the "System" at that session (in the way Quickstart approaches REI). The system was not there, but the upsells were.

I know the mentors are experienced investors and good teachers. However, I found the marketing approach used by Whitney is, at best, manipulation. It hits you at the end of the first day, when you realize they`ve taught you how to negotiate with your credit card company for a lower rate and higher limit (so you can put the cost of the upsell courses on your credit card!), and you also realize why they were careful to warn people against "talking to each other in groups" because there were always "nay-sayers" who would tell you why it wouldn`t work. They are very smooth and clever about protecting their pitch.

As for "Giving Back", I fail to see how Whitney can even let people believe that`s what he`s doing, let a lone say it out loud, given what he charges people for an upsell weekend with a sprinkling of REI tips.

In the end, I decided that while there may have been value in going one step further to learn "The System", I could probably continue doing what I was doing and learn it in a bit longer timeframe for a lot less money. Then I found out about REIN, and it has proven to be true.

But whether it`s REIN or Whitney, nobody will get to the dream they envision without great persistence, constant learning, and always seeking to grow their relationships.

Right on Scott. You said it best there at the end. Regardless of where you get your information, training and resources, persistence, continuosly educating yourself and growing relationships is the way to become successful.

All the best!

George Hutchings
www.sellmeyourhomefast.com
Hutchings Investments
 

EdRenkema

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QUOTE (grhutchings @ Oct 15 2007, 03:21 PM) Right on Scott. You said it best there at the end. Regardless of where you get your information, training and resources, persistence, continuosly educating yourself and growing relationships is the way to become successful.

All the best!

George Hutchings
www.sellmeyourhomefast.com
Hutchings Investments

I take all the previous comments at face value. I had a very similar experience recently in Toronto with a company called Wealth Intelligence Academy (purportedly the same as Russ Whitney). My attraction to the seminar was their claim to be partnered with the Rich Dad company. As part of the $495 course fee I received 14 CDs and one DVD plus 3 study manuals, all published by Rich Dad company. This information alone I consider to be worth what I paid for the 3 day seminar. I get the part about the upselling and the credit card scheme. Fortunately with some limited success in REI and a lot of research, including Don Campbell`s books I was able to keep focused on my own goals and not buy into the big dollar courses. I am not yet a REIN member but from what I am learning on this forum alone I can see how beneficial it can be if for no other reason than to be able to network with individuals of similar mindset and hence be supported in my path to success. This in fact is something Robert Kiyosaki teaches is to change your thought process and to network with others who will support you instead of trying to hold you back. RK insists and I believe correctly, that building wealth is about changing your thoughts and a plentiful mentality rather than scarcity is important. He also stresses to give back but I don`t think this means telling everyone who will hear how much you are doing it.
My 2 cents.
I appreciate all the insightful comments on this forum

Ed R
 
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