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I was trying to work out the mindset that thinks it's a good idea to pay for training from the so-called 'gurus'?
The best advice I've ever had has been for free, by people that have taken an interest in what I've done/doing, and I'm always keen to provide advice off-forum but now wondering if it's worth it?
To this day I still don't understand why people think it's a good idea to pay £10k for some course, when they'll be immediately £10k worse off than if they'd done absolutely nothing?!
Looking through the 'feedback' (a.k.a. creativity) of a prominent 'guru' regularly featured on PT, I wonder why all these people feel the need to spend thousands of pounds (they often seem not to have) to find out about 'no money down deals' or 'never having to pay for a property again' etc. etc.?
Isn't it an oxymoron to spend thousands of pounds to find out how to do a no money down deal?! Or is it something just done by novices who are sold 'the dream'?!
A guy I know regularly asks me for advice on what business he should start up, what he should do to get some extra cash etc. etc. and I used to give him ideas. He never tried any of them. Then I started asking him why he didn't try any of them, and he came up with the usual reasons - too busy, not knowledgeable enough etc.I then asked him what ideas he had. Basically none, apart from one selling memory cards on ebay - great idea!The next time he asked me what he should do, I said to him, why should I give you an idea for a business when I could do it myself and make myself money, which he was quite taken aback by and not too impressed with.
I wonder if I'd charged him say £60 for a one-hour consultation fee he'd have given some of my ideas more time as he then had a vested interest?
I'm just interested in the psychology of people that either:A) don't value free advice, and/orB) feel that the only good advice is advice that's been paid for?
I regularly say to newbies on here to read through the subject that they've asked about on PT, then come back on here with any questions they have to show they've gained some knowldege, and to date I can't remember any doing it? It's all free on here, and much more sound than from certain 'experts', yet they don't want to do it/can't be 4rsed/don't value the information???
I dont think it's just Free Advice, people pay stupid money and £10k is quite cheap compared to some I've seen for these Gurus.Then when they complain - a thing these Gurus often say is that they did not engage in the advice and did not follow up on instructions.
It's just human nature - free or not. Some people do and others dont.
_________________________________________________________________________My posts are not financial advice, just a rambling guy passing time on a coffee break.The team at Bespoke Finance offers advice, including Limited Company Buy-to-Let , HMO Conversion and Cheap Life Insurance._________________________________________________________________________
To this day I still don't understand why people think it's a good idea to pay £10k for some course
Naivety, desperation for a better life, trickery and Neuro linguistic programming techniques used on them by the people selling the course.
Even I got took in by one well over a decade ago, got took for 5k when I was in my mid twenties and hadn't figured out how the world really works.
Videos with the 'gurus' driving their Ferrari has a bearing on it (and the camera always pans round to show the prancing horse logo in case we hadn't clicked that they're in a Ferrari).The underlying message of 'you too can have one of these if you just follow our advice' has seemingly swayed many to shell out thousands.I'd love to know how many attendees on these courses a) made a success of their business and b) attribute that success to what they learned on a course
Self doubt. People often think others know something they don't.
I used to believe in it too, got taken for £295, then looked around the room and realised I was the smartest there :-)))
When I think back to the free advice I've had, it's basically put me in the position I am today. I have no doubt that if I'd been paying for courses I would be worse off.
Every investor on this forum has had a different route, and it is entirely personal to you and your choices.
How someone can teach anything other than the basics for your route is impossible, and that's why so many people end up failing with these schemes.
Yes - an interesting topic. I'm sure there will be a psychological name for it.
Some time ago, I was approached by someone who wished to invest in property and knew we procured and prepared properties for investors. But he didn't want to buy a property just yet, he wanted us to mentor him. When we informed him we didn't do that, he seemed bewildered. He offered us £1000 per month if we would just share what we knew. I told him we share what we know for nothing! It's all out there; on sites like this. And I explained that if I mentored him for a year, with the £12,000 he would spend, he could have his first property up and running AND he would pick up what we were doing and if he decided he could do it for himself, then he would be free to follow that path.
Eventually, after refusing his money for mentor-ship a couple of times, I never heard from him again. I'm sure he will have paid to go on courses but I'll bet he still doesn't own one property.
I must admit, most of my learning was through trial and error, research on sites like this and investing perhaps a few hundred pounds on books over the years. Funnily enough, the most educational books were the worst ones! I learned a lot from the supposed Ferrari-owning brigade by NOT adopting their pie-in-the-sky advice and strategy - (honestly! who actually joins a pilot / aeroplane club so they can get funds from wealthy individuals!)
But to go back to the original point, it's true. Most people would rather spend a lot of money on info that is freely available and do nothing with it than get free advice and back it up with a bit of hard work.
LETS MAKE HOMES by treating landlords as partners, tenants as customers & every property as our own."
Most employ NLP techniques to "brainwash" you.
Regards Simon Searchlight Finance
Fulfil Your Property Ambitions
Searchlight Finance Ltd is authorised and regulated by the Financial Conduct Authority reference 743220.
HMO Finance I Complex BTL I Bridging Finance I Development Finance
Buy to Let I Portfolio Finance I Commercial Mortgages
I have a friend of over 30 years who constantly asks me for advice on investing money, buying houses, taxation and other legal stuff. I am very careful to only advise her on what I know about, and what I know to be factually true.
At the end of every discussion she says " I think I'll go to Citizen's Advice"
I was advised once to double my hourly rate which was £75 per hour
They said some people only want to listen when they can really feel the pain
Jonathan Clarke. http://www.buytoletmk.com
The people who spend '000s on these guru courses are also probably unlikely to spend any money getting decent tax, accounting or mortgage broking advice, which could save them '000s in the long run.