We took the Yancey seminar over a year ago. We went to the free event and were given high-pressure "encouragement" to sign up for the next level of training, the 3-day event for $2,000. BUT WAIT, there's more! They also tried to get everyone to sign up for a tax liens program, which was about $1,000 more, as I recall. We suckered for the three-day event.
Pressure doesn't begin to describe the experience. We left every day exhausted to the bone. At the end of three days, in what I can only describe as mind-numbed stupidity, we bought into a program for $42,000 (yes, you got that right!). This included the 3-day Boots on the Ground training in Houston, as well as a trip to Las Vegas for a two-day Buying Summit. We were pressured to charge these amounts to credit cards if we didn't have cash because it would more than pay for itself. They were also more than willing to spread the expenses over numerous credit cards if that's what was necessary to pay for the training, because, of course, it would be paid back in no time with a lot of extra income left over.
We were later contacted, and pressured, by Yancey's group about joining "The Inner Circle" which would entail ANOTHER $10,000-$20,000 investment for even MORE great benefits! We did not, I'm delighted to say, fall for joining the inner circle. To be fair, the Boots on the Ground training was useful, however, much of the time, the topics were w-a-y above our novice real estate investment understanding. Since we signed up for the highest level of training, we also received brief one-on-one training in Houston that was useful because we had an opportunity to really pick an established real estate investor's brain to our hearts content.
Flash back to the present, more than a year later, still no deals.
If you want to learn about real estate investing, I have two recommendations.
Sign up for Cody Sperber's Fast Track Profit System. (Google it. There's a free webcast, I'm sure.) For a few HUNDRED dollars (not many thousands) you will receive a truly useful real estate education that you can go back and watch again and again for different points of interest. The program is fully web-based, and self-paced, and has many, many modules on a full complement of real estate education topics. I am convinced you truly could succeed in real estate investing with lots of personal drive and the education and tools provided in the Fast Track.
To be fair, if you purchase the Fast Track, you WILL be contacted about buying step-up programs which are more expensive, but certainly nothing near Yancey's rape and pillage routine. We did buy a more extensive program after spending a lot of time reviewing the Fast Track Program and feel like it was all money well spent. We do believe we can, and will, succeed in investing with what Cody provides.
My second recommendation is to go to your local real estate investment club. Here in Houston, we have numerous clubs and attend one regularly. THAT's where you'll find those cash buyers you so desperately need to work the deals you come up with. You can also find a local mentor, should you decide you want one. You'll also be able to pick up reliable contractors if you decide to do rehabbing.
To sum it up, DON'T fall for Yancey's pressure. If you want to dip your feet into the real estate investment pool, start out with a few hundred dollar investment like the Fast Track. (Maybe there are other programs out there like it, that's just the one we work with, and where we have found people who truly care about our investment success.) And ABSOLUTELY, go to your local REI club! You'll learn a ton about your local market and, if it's like Houston, the investors in the area will be more than happy to help you succeed if you are truly willing to work and dedicate yourself to it.
Bottom Line: No, I would not recommend this to a friend
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