Towards the end of 2019, I started going to Property Seminars. Well sort of. I went to a Property Network meeting in Ripon that didn’t happen (that was a 2 hour round trip due to road works), a free property event in a Hotel in Middlesbrough, a PIN (Property Investor Network) meeting in York and a 2-day Property Crash Course in London.
The Crash Course was in London was a little bit of an eye opener. Although I got some useful information (not much), I had to sit through a 2-day sales pitch. The aim was to get the near 1000 crowd (property wannabe’s) to sign up to expensive training….
With what I am getting taught, the no money down (HMO, Serviced accommodation etc) strategies don’t really appeal to me at this stage. I can only see issues and complications with mortgage companies and other key stakeholders (e.g. the leaseholder of a block of apartments would need to sign off on your serviced accommodation).
Wait for it, there is another sales pitch coming. To get fully trained up on HMO’s I can enroll onto the HMO bootcamp for £2995 + VAT. Not only that, I can get myself on the Serviced Accommodation University for the fuck all price of £3995 +VAT. I haven’t got it written down, but another course thrown in is the legalities (as they call it) including all the templates and agreements for the no money down deals. I would like to have a little look at this out of interest, but it is another £2,000 I haven’t got.
That is a grand total of £10,388 for 3 days of training. But wait. If you go to the back of the room (Now!) you can get all that training for just £2,000. Again, I am going to resist as my inner skeptic is warning me against these courses. Not only that but they are getting aggressive with the sales pitch now and it is getting right on my tits. It is time to vacate.
It seems I’m not the only one who has experienced these aggressive sales pitches. Disgruntled property training course attendees are gearing up to bring a group action against ‘investment guru’ Samuel Leeds (Landlord Zone).
The article goes onto mention the tragic case of Danny Butcher. Danny was a former soldier who killed himself after trying to clear his debts by enrolling on a £13,000 course run by Property Investors (Samuel Leeds). Personally, I feel that it is harsh to blame some poor souls suicide on a training course.
What I will say is that for these very expensive courses, the course organisers seem to offer life-changing results and it is easy to get pulled in. The course organisers have to be monitored to ensure the information and training they are selling is being sold ethically and is above board.
Do not try and convince the course attendees that by paying over £10,000 for courses that you are practically guaranteed to make a fortune and never have to work again. Say that with some expert training and guidance you have a chance of making a career with property but the amount of money you make is very much down to you, the individual.
I am all for property seminars and courses but the organisers have to incorporate a bit more honesty into their sales pitch. There might be hundreds in the crowd who are desperate and will go to any lengths to get financial freedom (that same FI I am trying to get before I’m well into my 50s and 60s).
Personally, I don’t fancy any more property seminars because the last one I went to with Mr Leeds left a sour taste in my mouth. Not to mention that I am not too keen on jumping around the room and high fiving complete strangers.
Going forward, I will look to go to more PIN events local to where I live. This is to increase my property knowledge and get around like-minded people.
Get yourself to a property course by all means it might just make all the difference to you and your future. But definitely go with your guard up and don’t be bullied into expensive courses you really can’t afford.