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.
More information was presented than I could absorb in the "free" first presentation and "yes" I did attend the second, $1997 3-day seminar.
I attended the 3-day seminar (cost $1997). The Presenter was a wonderful speaker that spent 95% of each of the there days presenting worthwhile information relative to real estate sales and purchases. From the reviews that I have read, I suspect the Presenter makes all the difference. The Advance Trainer classes were mentioned, but there was not a great deal of time devoted to this. The "pitch" came in such a fashion that you could consider the advance classes or not. The Advance classes cost in the thousands and the Presenter informed everyone at the 3-day seminar that advanced classes are not easy or for everyone.
I signed up for the Diamond Advance classes - $40,000. Since doing so, I have had contact daily with multiple Team members who are assisting me in every method imaginable. I am comfortable with the decision I made to pursue investing in real estate and expect to do well, Very well. I think if you are willing to work, smarter, as they say in the seminar, you can advance in this field, with the information available in the classes. However, I also think there is very little room for hesitancy. Decisions need to be made, with confidence, to make a profit in this business.
As relayed by many, this is bad business and needs to be stopped. Each attendance reveals the need to pay additional funds for successful investment. Each attempt to collect on promises made (iPad, tax liens, gift card etc.) simply reveal misleading advertising. ‘No Money needed” really means ‘Give us access to all available/possible funds”!! ‘Free’ really means ‘pay more than it’s worth and we’ll chip in’!! Any one aware of any legality (for 64 year olds) we can explore to get our $3,000.00 refunded? We will at least file a complaint with the BBB.
Constantly calls me 3 or 4 times a day. Every time I called back I was put on hold and when I did speak to someone they hung up on me. The phone calls continue even though I don't want them. I'm a Traffic Control Supervisor and can not afford calls during work that distract me from my job. I don't understand why they just won't stop calling me.
Scott Yancey... Save your Money!!
My wife and I bought and attended the $1,997 workshop held April 17th, 2014. This supposedly would provide us with the necessary training, knowledge and step-by-step methods to understand and possibly earn money in Real Estate. Instead, the $1,997 workshop went over the same things that we got at the initial free orientation, flew through snippets of high level stuff which could not be understood, had to listen to several stories of the leaders unbelievable success and then presented with product pitches to spend another $20k to $40k on more workshops in Las Vegas to really get the information that we were misled into thinking we would get on this weekend training.
More than half the time spent at the $1,997 workshop was spent on their product pitches.
We did not receive the training as promised when we signed up. I can honestly say that the only thing we were “taught” was how to kite funds by opening numerous credit card accounts and funding a transaction with the banks money robbing from Peter to pay Paul, I believe this is illegal?? ---Since we were warned about asking any questions of the event leader Mr. Brock Madsen I spoke with our group leader Shawn during day two and expressed my concerns regarding lack of useful information. Shawn told me that I was not a “doer” and this was probably not going to help me anyway so I could just leave. I asked him for my money back and he said to call him after the event to arrange for a full refund. I was completely unable to reach him and believe the number he gave me is no good.
I then called customer service in Nevada and was given a complete runaround.
I called no less than eleven times with the same result, we will get back to you. This is in my opinion – a complete scam and bad business.
Unreal and not what it seemed
I saw the infomercial and was excited about a chance to making money in real estate. So, I called to register. On the phone, I had a feeling, as the girl kept asking me to promise that I would show up, as space IS "limited" and they need a head count for the meal. I showed up and had a feeling that this would come with a price tag. It was a matter of when.
They then mentioned a $1,997 investment and tried to offer you to bring a guest for an extra thousand, which they later said they would waive, as a bonus. The meal was a "school type" boxed lunch poultry wrap, an apple, choc chip cookie, and some pasty looking thing. No napkins, but bottled water. I never dreamed that any nice hotel would even think of handing out boxed lunches. We used our laps as tables to eat and take notes on. What does that tell you?
They continued with the sales push and got some people to wiggle to the commitment table. One guy was so uninterested and had fallen asleep, in his chair, and was woken, by the presenter. Before the 2nd presentation started, you could see empty seats as folks had left. The 2nd presentation was about tax liens and taking advantage of struggling people. No mercy!
This session too was for a separate fee around $1500. A discount, they claimed. But for those that already bought the 1st program, they would drop $500 of that price. They handed out a "digital" plastic camera, with the words, made in China, on the box. This camera looked like something from the toy aisle, at the dollar store. But, they buy in discounted bulk. So, the dollar may be too much for such cheap gadget.
I left confused, and wondered, if this indeed, was an opportunity. But looking back at things: lunch, camera, and the reviews, my gut tells me that I did the right thing. Except, I should have left at the break along the others, who had it.
I don't know that I will have enough room to express all that I would like to share but I will try!
-My husband and I bought the 3 day training for $2000 US. We were advised that we could get this money refunded if our first deal closed within 100 days. This training on it's own has no value. You do not have enough knowledge after this brief overview to succeed in real estate
-We then invested another $40000 US (this was the discounted price) for the diamond package. I was told to leverage and use my credit cards to pay for this. This had adverse effect on my credit. I do not recommend this approach.
-We then got a call to join their inner circle for an additional $16000 and when we said that we do not have any more money the representative got quite defensive and condescending
-We had our boots on the ground training which was of great value, thanks to a great trainer with lots of knowledge & experience :)
-We have since purchased our first 2 properties which are buy & hold and cash flow quite nicely! I would not say that this is thanks directly to success in real estate. I would accredit this to our Boots trainer. I think after much research we finally got enough courage to take the plunge.
-We went to Las Vegas for the buying summit. This too was a valuable experience, although being Canadian a fair amount of the material was not relevant.
-We are now trying to get our initial $2000 back as we have closed our first deal within the 100 days. PLEASE NOTE BUYER BEWARE: the 100 days starts from your date of purchase and not from the date of your training! We found this out only after we applied for reimbursement. How are we suppose to close a deal when in fact we have not received any training?! Our first deal closed on day 95 (this is according to the purchase date) when we were in Las Vegas. Not only must the deal close within the 100 days but you must submit the paperwork within 100 days! The documentation was with my lawyer back home. As soon as we got back I asked my lawyer for copies of the necessary documents for proof. Not knowing that the 100 days started at the date of purchase, I am now over the 100 days. I am not impressed! I am beginning to wonder if anyone gets their money back.
-We should find out in 60 days if we get our tuition back. I will be sure to check back in & let you all know.
I wish you all the best in your endeavors!
Fair and honest - but the extended course was not for me
I attended a free seminar that was comprised of a sales pitch for a 3 day seminar on how to make money in buying real estate at low prices so you can flip or use the property for rentals. There were some good gems of information in the seminar. I signed up for the 3 day seminar, but for personal reasons I decided to cancel my participation in the seminar.
I live in Florida which has a law allowing for a 3 day cancellation period. I informed these folks about my intent to cancel. They issued a credit to my credit card even before they received the required return of the course materials which they gave me at the free seminar.
So, I can't comment on the 3 day course, but if you go to the free seminar, you may not need to suffer from buyer's remorse - at least based on my experience.
My wife and I went mostly to get what we thought would be a nice free lunch at one of the best hotels in town. That's all part of the deception. Another part is the invitation that gives you the strong impression that Yancey himself will be giving the presentation. Well he wasn't there. All we saw of him was a short intro video where he looked a lot older and less serene than the heavily Photoshopped picture of him on the cover of the packet we were handed when we arrived. Perhaps he looked uncomfortable because he knew the whole thing was a scam.
As we filed into the room, the first thing I noticed was we were all going to be sitting in chairs with no tables. Immediately that told us we weren't getting much of a lunch. And then we found out we wouldn't even see the lunch until about 2 hours later ... at 2:00! That's probably also part of the ploy. get you nice and hungry so your defenses are down.
So we find out that the hard sell presentation was all about trying to coerce us into dropping $1,997 US to attend a 3-day retreat where we would get all the training we needed to make the money they told us we could make. In the break, we approached the presenter to ask some questions. After he finished stuttering, he gave us some kind of answer that didn't make much sense.
Sure enough, the lunch came in a bag - a couple of small Bunwiches, a piece of fruit and a cookie. Big disappointment but not really surprising.
We took in the second presentation on how to take advantage of people that can't pay the taxes on their properties. The idea of making money off someone who had already been scammed in the sub-prime mortgage disaster and related fall-out turned our stomachs. So we knew we weren't going to do that.
The idea of making some good money by flipping real estate or buying rental property using someone else's money was appealing. But there were too many unknowns and we didn't feel we could trust them. In the end, my wife said the whole thing didn't sit right with her and we should get out of there quick. Listen to your wives, guys, they can save you a ton of money.
I came home disappointed that what looked like a good opportunity to make some retirement income didn't work out. I went online and found all the bad reviews and discovered the 3-day retreat was all about trying to suck you into shelling out tens of thousands of more dollars. I was sure glad that I had listened to my wife's gut feeling and hadn't paid the $1,997.
Oh yes and the free book turned out to be on a CD and we had to go online to get the camera. After reading the other reviews, I probably won't waste my time. Don't waste your time - the free lunch isn't worth it and you'll leave disappointed and feeling like a loser for saying no.
I'm here now ... Help!!! Dinner? Sack lunch. Cookie was good though. I better get my free gift! I feel so bad for all the elderly people who just purchased this stupid program. I have been reading these for the last part of the seminar and shaking my head as I listen and nod my head. DO NOT PURCHASE THIS. I have not and believe it is a true scam!!
Scott Yancey Real Estate Seminar
I went to the "Free" Scott Yancey event and all it was was a hard sell for the 3-Day Workshop where you would learn the "secrets" of making money in Real Estate in any market whether its going up, down or sideways So, I did and I paid the $1997 and went to the 3-Day Workshop in Redondo Beach, CA.
I was very disappointed and crushed because the 3 day workshop was just a hard sell for more High Priced Training anywhere from $6,000 to $19,000 and above.
The trainer was very entertaining; however, I think they only taught for maybe about 4 hours of the actual material that was promised and for the rest of the 3 days it seemed that all they did was try to hard sell for additional high priced training. Yeah, how wonderful his life became since he found Mr. Scott Yancey. We even saw pictures of his awesome vacation, home....family....AWESOME LIFE......all thanks to Scott Yancey!
Scam Scam Scam! Do not get to their seminars!
You will sit in a seminar for 4 hours and learn nothing. They will try to up-sell you on a 3 day seminar for $1997 that in return when you get to that seminar you will learn nothing and they try to up-sell you again on a package 20k to 60k. Don't waste your time or your money on these low life scam artists, Any positive review for this company is just junk. I'm a hard working family man and I don't want to see any good people that are trying to better their lives being taken advantage of.