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Wealth Dragons ... Go on their course to become LESS wealthy.

frank_rizzo Offline Mute
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08-12-2012,02:55 PM
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Wealth Dragons ... Go on their course to become LESS wealthy.

Yesterday, I was contacted by a lady. I think it might have been because of my outspoken stance on another well known wealth creation guru ...

She asked me to publish her story as she was too embarrassed to publish it hereself.

I confirm to PT moderators that I have checked her identity and she is a real person with a shocking and true story to share.

I publish it in full below with no changes to her original writing.

She wrote to me:

I borrowed £8,000 from a friend to pay for the Wealth Dragons course and actually had second thoughts and tried to cancel it but I'd already signed the paperwork and their T&C's were very tight, I was also 'talked around' by Vincent saying I'd regret it if I didn't do it as I was on the way to being 'financially free'.

I had just 8 'sessions' with John & Vincent. There was a folder provided to keep all your course material which stated what each session was about but on the actual day there were no hand outs provided, so you had to make notes as they talked, which was pretty difficult as they went at a good pace!

Although I was impressed with some of the techniques they showed us by the end of the session it was very difficult to make sense of the notes as it was written in a hurry, so a lot of it was pointless.

We spent a lot of time dancing and cheering at the beginning of each session (which was to psyche you up ready for the day) and again at the end, which is great if you like dancing Smile

One whole day consisted of us cold calling people from 9.00am till 7.00pm selling tickets to the Progressive Property Super Conference where John was doing a presentation, it was a good lesson in cold calling and we did get to keep the money we earnt for each sign up but it was all about 'bums on seats' for them.

There's no doubt they're great salesmen and they're excellent at getting people to sign up, most of the content is good, but unless you can write quickly or have a great memory then you won't be able to put it into action.

I feel they take advantage of new investors, promising they'll be financially free etc after their course, and they really make you believe it! But it's bullshit, you get 'just enough' to keep you interested then there's always ANOTHER more expensive course after that one that you MUST do if you want to earn the 'big bucks' (that one was around £15,000)..and people fall for it, and beg , steal or borrow the money believing they're going to be able to pay it back (as I did).

I'm a small investor with a couple of properties and fell for their sales talk. I ended up falling out with a good friend because I couldn't pay her back, it was very stressful and worrying and in the end I had to sell one of my houses to do so, which had been cash flowing nicely for me. So ironically I had less after the course, not more! And it's NOT because I didn't take action, I'm a very motivated person and did everything I could.

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**Moderator note: Post moderated at request of original poster due to editing option expired **
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Charlie Offline Mute
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08-12-2012,03:12 PM
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RE: Wealth Dragons ... Go on their course to become LESS wealthy.

fools & money spring to mind
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Vanessa Warwick Offline Mute
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08-12-2012,03:44 PM
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RE: Wealth Dragons ... Go on their course to become LESS wealthy.

A post that I started back in March 2011 expressed concerns that have been mirrored in this lady's sad tale.

Getting people who have paid you for mentoring to spend their time doing your marketing calls for you is a truly brilliant wealth creation strategy One of the best I have ever come across.

Unfortunately, the strategy works for the WD's, not their poor delegates who pick up the chump change of affiliate commissions when they are meant to be learning how to become property millionaires.

The more I think about it, the more outrageous this is so I cannot help wondering why delegates did not complain.
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Adam Hosker Offline Mute
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08-12-2012,04:52 PM
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RE: Wealth Dragons ... Go on their course to become LESS wealthy.

No seminar makes you pay £6k to enter and when you leave its doubled your money.
They did not leave this lady in debt, she got herself into debt. They provided a seminar that cost £6k, she had the option not to go, pay with own funds (did not have) or borrow funds.

A fool and his money are soon parted, especially when salesmen have a product to sell.

If you can not afford a seminar, don't borrow to go.
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samgreen Offline Mute
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08-12-2012,06:24 PM
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RE: Wealth Dragons ... Go on their course to become LESS wealthy.

You got to hand it to those Wealth Dragons guys, they are real good.

It is normal to pay a low wage and good commission when employing telesales staff. You are doing very well if you can get people to do telesales for zero basic pay and all on commission. But it is a master stroke of genius to charge people six grand to come on your course where they do your telesales work. Pure genius. (And whats best of all is that anyone who has signed up for this is so embarrased by what a plonker they have been, very few people will ever publicly complain). Great job WD. Has to be one of the most creative GRQ schemes going
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Vanessa Warwick Offline Mute
Landlord & Co-founder of Property Tribes
08-12-2012,06:39 PM
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RE: Wealth Dragons ... Go on their course to become LESS wealthy.

Sam,

I think the WD course costs £10K in total!! Not £6K ... so even more a stroke of genius! Smile
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Kevin Wright Offline Mute
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08-12-2012,09:53 PM
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RE: Wealth Dragons ... Go on their course to become LESS wealthy.

The worst speakers I ever sat through at a property meet were a Scottish couple doing a presentation in the name of WD.

They listened to each attendee stand up and give a 60 sec history of their experience in property and the room was overwhelmingly populated by people with considerable experience.

So, ignoring that completely, the WD'ers went on to give a talk telling us how we could go about generating leads, how to talk to a motivated seller when you found one etc....They obviously had a talk that was aimed at complete newbies and they weren't going to adapt it regardless of who was present; whether from an inability or an unwillingness to do so.

The room was openly sniggering at some of the comments they were making, which can't have been a comfortable experience for them but it was entirely of their own making.

That told me all I ever need to know about WD
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paul_cummings Offline Mute
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08-12-2012,10:17 PM
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RE: Wealth Dragons ... Go on their course to become LESS wealthy.

I can believe that Kevin, what I can't believe is that anybody gives these two "educators, not investors" money.

Vincent Wong run a crappy lead generation service. I bought a so called qualified lead off him once in my early days who told me to f***k off the second I called. He tried to palm me off until I told him I'd be on every forum every day informing of his leads lack of quality until reimbursed. Funnily enough, got a refund that day.

As for John Lee, Master Motivational Speaker. Honestly, have you heard this idiot speak. He came to a Manchester network meet in a pub in Prestwich about 5 years ago with the big super duper motivational speaker banner.

Honestly, he couldn't motivate an alcholic to have a drink in a pub. Most amateurish, childish, big I am speak I ever heard. Was obviously honing his speaking skills, and boy did he need to.

Though why someone making the money he said he was making needs to educate others for large fees................Oh hang on, that's ringing a bell.........
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Vanessa Warwick Offline Mute
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08-12-2012,11:11 PM
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RE: Wealth Dragons ... Go on their course to become LESS wealthy.

@Kevin,

I think the Scottish couple were the Drummonds and they purchased some kind of franchise to become representatives of WD.

I had a few conversations with William on Singing Pig where I asked him a few challenging questions and also what the Drummonds themselves had achieved in property through the WD programme, but he never answered my enquiries. I got the impression that they knew very little about property.

From January 2011 on the WD "blog":

Wealth Dragons Consultants William & Margaret-Ann Drummond have been doing a tremendous job running Wealth Dragons Unleashed Events. They have become property millionaires through training with John Lee & Vincent Wong and are so passionate to teach others how they became financially free.

_____________________________________

I am not sure the Drummonds are associated with WD any more as I came across William not so long ago and he was promoting another business ... I think it was internet marketing or lead generation but not 100% sure.

James to win X-factor! Smile
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Kevin Wright Offline Mute
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09-12-2012,12:41 AM
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RE: Wealth Dragons ... Go on their course to become LESS wealthy.

Thanks Vanessa, that sounds like them, the Drummonds. They are probably very nice people and I wouldn't like to comment on what they do or don't know about property but they showed on that evening that they didn't know much about how to read an audience and pitch your talk to the people present
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