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I read the following response to a post on Quora.com dealing with flipping homes vs. teaching how to flip a home. It seems relevant to me re trading vs. teaching how to trade ---
It is about 10x more profitable, and much less risky, to sell education than it is to flip homes. Read that twice if you need to.
This country is founded on “chase your dreams, chase your riches” mentality, and the super sharp among us realized long ago, that the easiest money to get is that held by fools. The richest guys after the gold rush were the shovel dealers.
Flipping homes is profitable. No argument there. But it is WORK. And WORK is not sexy, doesn’t sell well, and does not appeal to the average, soft-bodied, social-media-addicted citizen of this country.
However, selling this dream to people is easy, and the tactics that work are almost comical if they weren’t so sad. Turn on any late-night RE infomercial, and look how terrible they are. But they do sell them. And that’s about the only metric that matters unfortunately.
Why do you think the education debt load in this country is so staggeringly high?
Because pipe dreams are sold and financed to children who don’t know any better. basically the same as your average starry-eyed seminar attendee.
And so you know, the companies that do these seminars DO flip some homes. They have large systems to get off market deals that look something like this: Darwin Crawford's answer to What are the best ways to find Real Estate wholesale deals?
However, they only flip the ones with the fat profit margins, and then sell the skinny deals off to “new investors” and if/when they go bad, tell them it was “a learning experience”
Before you think I’m bashing the practice, let me go ahead and say that the ROI on a real estate course (provided you DO THE WORK - big ‘if’) is far better than some BS degree from some BS 4 year college covering some silly esoteric topic that no one cares about.
So there you have it. Turns out the Wizard is actually just a little old man pulling levers. Who’d a thunk it?
seattle7, who has spent far more than he would like to admit on trading seminars, books, gurus, etc. and all in all is feeling a little dumb about having done that for so many years
I've been to a handful of the free seminars in Columbus for a few reasons, I use them to try and stay current on what the big trend is so we can sell some of our homes into what people are looking for x or y. 2 some times they have good food lol .
But in reality me and my misses learned everything for free from forums and speaking with realtors and now shes getting her license so we can get another head up on the game.
Same with trading, almost I've bought two classes I guess three if you include this forum. What people don't understand is that all the info they want is right in front of them .. just google it.
These course feed on peoples emotions that why 90% of them include the word millionaire in them.
-P
"Truth is not what you want it to be; it is what it is, and you must bend to its power or live a lie"-Miyamoto Musashi
<------ (note the sarcastic emoticon)
