Is the SuccessPath real estate training program a scam?
I am sure you have all heard the commercials, “Come to the free seminar this Friday night and learn how to invest in real estate”. They mention Tarek and Christina El Moussa and their HGTV show. They don’t say they will be at the free seminar but I think they want you to think that. Either way they use Tarek and Christina as the ‘authority’ or ‘pull’ to get you to show up.
Once you get there you sign up, wait a little bit and then the sales seminar starts. Yes I said ‘sales’ seminar. You might get a few useful nuggets of information but really this is a semi-high pressure sales attempt to get you to buy their products. The first sell up is an upcoming 3 day seminar near you. This will set you back a couple of thousand dollars. But, if you listen to the speaker “only the truly committed will do what is necessary to be a success.”
In addition to that they will try to sell you another product or two that will help you make money. One in particular they said was worth $4.995.00. However they will cut it go $1,597.00. By the end of the one day seminar they have cut it to $997.00 if you agree to the three day course. Great deal right! Surprised by the number of people that fall for it? Well, not really I fell for part of it; I subscribed to the 3 day seminar.
So, what happens when you get to the 3 day seminar?
- Speaker was very good. Very likable.
- There are a number of representatives there that say they are successful real estate investors.
- You do learn a few things.
- Pleasant learning environment.
- This is a passive aggressive high pressure up sell seminar. More about that later.
- They teach you some dangerous ways to obtain money that could get you in trouble.
- About half the time you spend learning the other half is up sell.
- The next course is $25,000.00, don’t worry they tell you how to get the money.
First, what do I mean by a passive aggressive high pressure up sell seminar? Well they spend a lot of time identifying successful people and unsuccessful people. They go over the traits of each and give various examples. Then they twist that into if you are one of the “good, intelligent, successful people, that cares about their family” you will purchase their next seminar; if you don’t then there is obviously something wrong with you. You just don’t get it. You just don’t care enough. They sneak that up on you after they identified the traits that make a person successful.
Guess what? If you don’t by the next $25,000.00 seminar in Las Vegas you are not a successful person with the right traits to succeed.
Now, let’s talk about one of their dangerous money obtaining programs. Early on they tell you one of the easiest places to get money is from your credit cards. They even give you a script and training on how to ask for a credit increase from your credit card company. They also encourage you to apply for a new card and ask for that specific limit they recommend. They then provide you the time to use your cell phone to make the calls. It is one of your tasks and homework. After time is up they ask for a show of hands on who completed it. Using peer pressure to encourage you make the calls.
How much do they suggest you get as your limit on as many cards as possible? $25,000.00 is what they want. Does that sound familiar? It should, the next day they are going to spring the Las Vegas seminar on you and guess how much that costs? That’s right, $25,000.00. Coincidence? I doubt it. This is the single biggest problem I had with the course. There were a lot of people in the room looking to learn and hopefully make some money that did not have much. These are also the people most likely to be tricked into taking $25,000.00 in credit card debt to pay for it.
At the end, they ask everyone who did not purchase the $25,000.00 program to get up and leave so they can have a party and take pictures with the successful, intelligent people you are continuing their journey with them to Las Vegas. Everyone else, they are no one important. They do not have what it takes to be a success. Better to get them out so they do not bring ‘negative’ energy into the ‘good’ group.
The truth is, everything they teach you can learn for free online or in books. In fact, I was reading a book after the course that was very similar to the course content. It even had a couple of quotes in it that the seminar presenter said.
I am very disappointed that so much time is spent on the up sell to the next product. I know that is how they make their money but still. I am also disappointed that Tarek & Christina El Moussa put their name on this type of product, do they really need the money? I am also concerned about the whole credit card thing.
Overall, is it a Scam? Probably not by the strictest definition you do learn some things. However, I personally did not appreciate the constant up selling and dangerous finance advice. Better to go on your own and put forth the effort to obtain free information online. Save the $30,000.00 you would probably have to invest if you went to Vegas. Probably more than that since I did not go, I have no idea what they tried to sell you there!
reference: successpath, scam, tarek & Christina el moussa, real estate, hgtv