Based out of Las Vegas, NV, Scott Yancey is a self-made millionaire through investing in residential and commercial real estate, as well as a published author, and an executive producer of A&E’s television show “Flipping Vegas.” Mr. Yancey claims to have made his first real estate deal and the age of 14, and with a personal belief that “your money works for you,” is passionate about helping others achieve this same success through his live real estate seminars.
Scott Yancey’s infomercials have been featured on networks such as NBC, CNN, and ABC, as well as publications such as the Wall Street Journal. While there are some positive online reviews, the vast majority are negative, with the most frequent complaint citing high-pressure, deceitful sales tactics.
How Scott Yancey Seminars Work
In addition to his infomercials and television shows, Scott Yancey’s claim to fame is his live real estate investing seminars, which claim to show you proven investment strategies that you can use to realize your own success. More specifically, Mr. Yancey’s seminars claim to provide core information in areas such as:
- Residential Real Estate
- Commercial Real
- Estate Tax Liens & Tax Deeds
- Multiple Income Streams
However, it needs to be noted that there are two types of Yancey events: Free and Paid. Free events are constantly being hosted in cities all across the country, and claim to provide basic information on how to:
- Get your real estate investment career off the ground
- Choose the best areas to invest in
- Ensure your investments always remain profitable
- Generate passive monthly income, or “big monthly paydays”
According to a wide variety of online reviews, these free events contain very high-level information, very little of which can be applied toward earning money in real estate. Instead, this information basically acts as a “teaser,” and you’ll be urged to purchase access to a paid event, which then promises to provide actionable information. Scott Yancey hosts several of these paid events, the most popular of which appears to the his 3-Day Workshop, though many more are provided, including:
- Boots on the Ground
- The Buying Summit
- Inner Circle
- On-Demand Training, which includes:
- Seller Financing Boot Camp
- Residential Rentals Boot Camp
- Quick Cash Boot Camp
- Cash Flow Boot Camp
- PropTrend Real Estate Software
Scott Yancey Seminar Pricing & Refund Policy
Scott Yancey “Preview Events” are completely free of charge, and often include bonuses such as his “Go Time” book (in PDF format), free cameras, and a chance to win one of 15 iPads. However, it seems the primary intent of the Preview Events are to hard-sell you into purchasing a $2,000 ticket to his 3-Day Workshop. However, we learned that even this preliminary paid event features more hard-selling for additional training/events that range in price from $20K-$60K or more.
According to the Yancey Events website, a 100% tuition refund is available to seminar certificate holders who “close a new positive cash flow real estate transaction and submit the supporting documentation to us” within 100 days of the seminar date. The process is fairly technical, so if you find yourself in this position, full details can be found here. Oddly enough, if the information provided in your seminar fails to help you purchase real estate, it does not appear any sort of refunds are offered.
Bottom Line – Are Scott Yancey Seminars Worth the Money?
As mentioned previously, online reviews of Scott Yancey Seminars are overwhelmingly negative, and primarily cite high-pressure, deceitful sales tactics. During our research, we even came across several instances where it appears employees of Scott Yancey posted false positive reviews intended to counteract hundreds of negative ones.
Furthermore, if you base your decision to attend a seminar on the “Success Disclosure” page on the YanceyEvents.com website, a pie graph shows that 60% of students who attend a seminar have reached success. However, a closer look at the fine print does not indicate whether or not these individuals made any money on their transaction(s), or the length of the time period that was included in their sample pool. Additionally, only those who “purchased advanced training—above and beyond the 3-day Workshop” were included in the sample group of 1,966 individuals. Finally, even when taking a look a the Testimonials page, all the success stories are provided by students and teachers who “purchased additional training materials.”
In short, this means that it’s fairly apparent you shouldn’t expect to start closing deals and earning money from real estate from the Preview Event, or even the $2,000 3-Day Workshop. While no prices are listed for the supplementary training materials and events on the company’s website, our research uncovered prices ranging anywhere from $20K-$60K.
Bottom Line: Should you spend your hard-earned money on a Scott Yancey Seminar? Based on our research, much of the information found in the seminars can be found elsewhere for free (or for minimal prices, such as the cost of a book), which can be read and applied at your own pace. Overall, with the huge number of negative reviews, most of which tell nearly identical stories, we would recommend spending your hard-earned money on real estate training through more traditional methods.
Yancey co offers to lend money at 1%. It's actually 1% per month or 12% per year
I went to the 2.5-hour introductory course which is to entice one to purchase the three day seminar and I found some issues that were misleading if you did not understand their quick sale points. --One of them was the funding of up to $ 750,000 at 1%. Many people left the seminar thinking that they will only have to pay 1% interest in borrowing fee costs. If you don't have a buyer waiting to re-purchase your new house which was purchased using Yancey funding, then every month you hold on to the house looking for a buyer to flip house to, it will cost you 1% in interest per month, which is actually 12% for the year. Remember, this additional interest of holding the house until you find a buyer may eat away at your profit.
Also, after paying for the 3 day seminar of $ 2000, the Yancey Group will decide if they like you enough and your future purchase to allow you to get funding. It is not a guarantee and I don't know if they will fund your flip with just the purchasing of the 3 day course or if you need to purchase the more expensive classes which cost thousands of dollars.
Furthermore, if you purchase a multi-family house with Yancey funding, should you decide to keep for cash flow and not flip, the Yancey company will not allow you to keep the house for yourself and re-pay their funding loan with proceeds from rent receipts. They force you to resale the house to an outside purchaser within 3 years because they want their funding money back fast with the "per month" interest cost.
Good luck to all those that continue on this course of study. From reading the other reviews, I realized they will not give you any real information in the 3 day course until you purchase the more expensive classes which may be useful. But a cheaper way of learning real estate is by reading books on the subject matter in the library and save your money to actually buy a house as cheap as you can and then re-sale it at a profit.
However, I think that many people need the excitement of a class and instruction. But if you can't afford the more expensive classes you may be wasting your last $2000 which the presenters will use to pay the hotel for the conference room and all of the instructors hotel rooms including airfare.
I would recommend this class only if you have thousands to spend on the additional classes, (I did not take any other classes with Yancey, but I am sure they have some value) if you don't have money, read a book.
Well I attended that free seminar and you could not ask any questions because all they asked for was money and more money. They had plenty of mock employees that could not answer.
I had to go to the restroom, and when coming back to seminar, I heard the mock employees laughing in the lobby saying that people were asking Questions that they can't answer. They were also saying how many people actually signed up for the paid seminar while sounding scared they weren't doing good in N.Y. From what I heard and understood, I think only six people actually paid the $1,997.
I waited for the free stuff they promised but then my boyfriend googled Scott Yancy and we were out laughing after getting an egg sandwich and tiny muffin and an apple for free. The gift was a two dollar camera lol. Well if it sounds too good to be true then it probably is.
I've been to a few investment seminars (Amway, Rich, Dad Poor Dad and now Scott Yancey AND looked into these silly modeling ploys--"anyone" can be a model. Yeah, right!) mostly out of curiosity and they are ALL the same. They are making their money on these seminars, not the real estate!!! If they were making millions in real estate, why are they hosting these seminars?
NBC News did a story many years ago on Rich Dad Poor Dad guru Robert Kiyosaki. they asked how many deals he closed or how many property he owned. There was ONE, the house he was living in!!!. He made his money on the book and the resulting seminars. Where is he now?
There ARE deals to be made but no one should be asking you more money to learn how to find them. You can buy one book on foreclosures or whatever you want to do and then go to auctions and watch what happens and learn that way. Or you call a realtor that specializes in foreclosures. You most certainly don't need to spend $2k for a three day seminar to learn that. I actually work in foreclosures and no one charged me a penny to learn how to do it. In fact, my broker paid for me to get my license because he needed an agent in my location, and then he trained me. A person who is serious about working with you will NOT ask you for more money to train you. In addition, you spend hours at a seminar that tells you basically nothing. Being in the foreclosure business is NOT easy. First and foremost you MUST pay cash because no mortgage company will touch most of these properties, they are in depressed areas and need a lot of work and oftentimes there are major problems you can't see
with the naked eye. You will rarely buy foreclosures in middle to upper class neighborhoods. it's not easy and most people spend more money in the rehab than they budget for.
Did you look around and talk to other at the people at the Yancey seminar? Most of them were low income. Shame on Scott and Amie for preying on the less fortunate.
I purchased the $2000.00 program and still trying to find a slot that works with my husbands schedule. Now I'm just having second thoughts after reading these reviews. We are blue collar and middle class and I'm medically retired so funds are tight right now. Sounds like we got scammed, just great. Here's another debt for US!
This program is not for the faint of heart and those who are small minded. All I have read are scared people who do not understand the ins and outs of real estate. Everything is a gamble and some people are willing to take that gamble. I enjoyed the presentation and yes some of what has been said is true but not all of it. My husband and I have invested in the Yancey Group because we understand real estate and think big. My husband was a real estate agent before the bottom fell out and we kind of fell in to rehabbing with one of our own properties. We understood what was going on past all of the smoke and mirrors. Where else are you going to be able to get money backing at 1% with no credit check. That alone is a reason to buy the package. All the other fluff they sell is a personal choice for you to buy or not. Look at the big picture and make your own decision. I do not understand the mentality of people who bash something simply because they do not understand or have their own agenda. We are in the beginning process with what we have purchased and some experiences have been awesome and others not so good but were corrected immediately. I agree we could get a lot from reading a book and applying it but if the work has been done for me I will pay for that because real estate is not easy and can cost you lots of money. If you can't spare the money then this is not for you. If you can, I say look it over and make your own decision based on what you know and understand. Educate yourself before you attend something or at least have some idea of how it works before you pass judgment on something you do not understand.
We attended the free live event in Gainesville, GA. The instructors main objective was to get you to become a student by signing up for a three day seminar for $1997.
In their presentation, they made it appear that if we became a student for $1,997 each, that we would have access to all real estate deals and properties that became available even before the banks knows about them.
We would have first choice and they would provide the funds to purchase these deals up to $750,000 for each one. We would only have to pay them 1% for the funding. Do they think, we are really that crazy to believe, that is all they will get out of the transaction?
There is no one, on the face on this earth, that will provide the funds to buy a house and just get 1% of the purchase price back. When a deal is made and the funds are provided by anyone, besides the buyer themselves, the lender will always be requiring repayment of the funds and usually with interest. They are not going to give you the money with you just giving them 1%. back. If it was like they said, if you closed a deal on a $100.000 house, you would pay them the 1% -which is $1000, the closing cost and you would walk away with a free and clear house and land. Let's be honest, That is not going to happen. Wait up and smell the roses, even they are stinking. Whoever provides the funds are going to be expecting their funds back with some extra for profit.
There is a whole lot more as to what is going on with these Scott Yancey seminars than is being said at these free events. The only way you can really find out all the details, is for you to keep paying out more and more of your money to them. After they have got everything you have, then you find out the real facts. By then you are either flat broke and/or really in deep financial debt
. One the invitation it states that you are invited to attend and have either lunch or dinner with them. You know what the lunch or dinner is? A cold dry turkey sandwich, bag of potato chips, brownie and bottled water. All served in a carry-out box. You can eat it there but you have to use your lap for a table and listen then to another instructor try to get you to become a Tax Lien student with them for $1497. All they want is your money, any way they can get it . SO BEWARE!
What A SCAM.. AVOID THIS AT ALL COSTS
Folks, I have quite a few seminars covering various topics.
I attended the free event which is a ploy to get you to pay almost $2000 for a 3 day event. (They admit this as part of the presentation though).
A real sense of fraud came when the presenter said that they will only provide the capital for investment for those who sign up here today...
Oh, you mean I can't go home, do some research to find out who and what you are, find out a little more as to whom I am investing $2000 with for education, read reviews, become further educated and so forth? Nope... gives us $1997 now if you want to take advantage of what we are offering).
They will not disclose who the actual company is that they claim has been doing this for over 10 years and has had over 500,000 students I interviewed one of the associates. I asked " Who is or what is the name of the entity who provides all of the support, the investment the 10 year history, the program and so forth.. His reply was, "You find that out at the three day. (After committing $1997).
I asked another associate the same thing. His response was... Well, it is a group of individual investors. I then asked, "So, you are a just a seminar company?". His response. "Yes, we are the seminar wing of the investors. I asked him to tell me the name of the company that is doing this. He avoided and additional conversation and obviously felt uncomfortable... I asked him... "What is the name of the entity or corporation that has these huge lines of credit that they just spoke of that they extend to the student of the class to purchase Real Estate with?" I figured they must have lots of positive press and at least have some write ups in the WSJ. He did not know. He just said it was individual companies and investors.
The entire event even the "polished" presenters whom of which if one did not know any better would gain a great deal of trust in, smelled like fraud, looked like fraud and then one could conclude that it is F----. Believe me. Do not get sucked in to wasting three hours of your day and taken by a free lunch or dinner to attend a BS session that offers less education than even the forward of a book on the same subject matter! Avoid... Warning... Danger Will Robinson!
Seriously.. Get Online (where you are now, go to a book store and so forth. The info is FREE. If you want to get into flipping houses, you should not be PAYING this kind of money if any, to learn how. There is so much information and education out there and there are many people who have been successful at this who will gladly share their experience.
This company prays on a certain demographic of individuals. They know real well who their target audience is and know real well as to how to create the urgency of an immediate call to action from that demographic. Scam... This is one successful business guys opinion. Do what you will.
Don't get into this scam, its a blow hot air up your... money making scam! they are all a bunch of good marketers that know how to pump you up to make money! They want money to show you how to make money, if your poor like me and don't have extra money, don't even try it, they are marketing liars!
Scott Yancy 's SIMPLEREALESTATE.COM: Lies and Scam
Public, Beware of the name SCOTT YANCEY and of SimpleRealEstate.com. It is a scam to collect money from you with promise that will not deliver. they collect $1500 with the promise to provide a list of prescreen tax lien certificate to buy. There are hardly any property on the list except a bunch of Land tax lien for parcel of lands in the middle of nowhere.... No inventory for Mini Trust Deed neither.
My husband and I just got back from the Yancey Free seminar. First off, my husband asked the lady on the phone if Scott Yancey was going to be there. She told him "yes".
When we showed up and saw that Scott Yancey (other than a photo of him), I should have known it was a scam! If they are going to lie about that, what else are they going to lie about. The free seminar teaches you nothing in my opinion! Then the gentlemen giving the speech won't take any questions from the audience because "he is running behind and will answer questions after" he says. He then is nowhere to be found.
We did pay the 2000.00 dollars but I'm ever so grateful for all of you who have written in and I'm so sorry for your monetary losses. Thank you for sharing so that others don't experience the loses.
Scott Yancey Real Estate Seminar
Our introduction to Scott Yancey was his T.V. reality show “Flipping Vegas”- it was entertaining since we can relate to the issues involved with investment real estate projects. To my surprise, a solicitation came via mail about a free seminar at the Montage, Laguna Beach. Since I heard about the exclusive Montage Hotel, and we had no plans that evening so we planned on attending this event. Extra inducements besides the dinner such as the $100 gift card, digital camera and possible a computer tablet for the 1st 50 people made it all the more attractive. We were neutral about attending the event, however based on numerous invitations to nice venues in the recent past for subject matters involving various asset classes for investments, we have had mostly informative and pleasant experiences.
This is one of the few events that we experienced at a high end venue with disappointment. The presentation was more of a sales promotion to recruit interested parties requiring a tuition fee of $1,997 for a 3 day seminar. The manner about which the staff interacted with the guests provided clues as to the veracity of their company. We have never had a dinner experience “on our laps” with a box lunch format that included a salad, sandwich, chips, apple and brownie. Furthermore, if you wanted the “$100 gift card”, you were told to wait until all guests have had their questions addressed - what a sales job with “smoke and mirrors” since we learned the card that was provided on-line was a collective “$100” credit towards purchasing gift cards (i.e. if you were to purchase $50 gift cards you were entitled to a $5.00 discount at a particular restaurant, so you are eligible to buy twenty (20) $50 gift cards for $45 each utilizing the $100 shopping dollars credited). We aren’t expecting too much if and when we receive this “free digital camera” by on line requisition and more so aren’t expecting the “free tablet computer” offered to the 1st 50 people.
Bottom line, with the brief adverse experience, we don’t have much confidence nor trust in this operation and would not in the least entertain the thought of submitting $1,997 for the forthcoming 3 day seminar. Reading other complaints, it would be safe to assume that more is emphasized about the recruitment and sales volume needed to grow this enterprise. Unfortunately, we feel this is one event that was a complete waste of time, gas and valet parking fee to attend. Certainly, the old adage of “nothing is free” or “too good to be true” may apply to this venture! Hope this helps anybody contemplating this avenue!