Bogus Real Estate Offers
Jerry has seen some "real estate investor apprentice" signs advertising that you can make $20,000 a month. Is this too good to be true? Dave says it absolutely is.
QUESTION: Jerry in Texas has seen some “real estate investor apprentice” signs advertising that you can make $20,000 a month. Is this too good to be true? Dave says it absolutely is.
ANSWER: If it’s $20,000 a month, it wouldn’t be advertised with a homemade, roadside sign. Let’s be real. I’m not positive what’s going on here unless it’s a guy trying to sell a real estate seminar.
Some of the premises of these “real estate boot camps” where you pay $3,000 to $8,000 to go for the weekend and learn how to buy foreclosure real estate is that, if you follow the guru’s guidance exactly, the guru will help you by buying the house with you. They say they will furnish the capital, but they never buy any houses; they just talk like they buy a lot of houses. The only ones they buy are 10 cents on the dollar, which you would never take to them anyway.
It’s bogus. Anything that sounds too good to be true is. Becoming wealthy is hard. It requires work, sacrifice and living on less than you make. Everyone who becomes and stays wealthy follows that path. Please don’t go for shortcuts. The Bible says he who hastens to be rich will not go unpunished.