Exposing Real Estate Seminars | Part 2
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- Опубликовано: 16 июл 2024
- My least favorite business model is discussed in this video: the real estate seminar business. It's full of fraud, lies, false advertising, manipulative sales tactics, and every imaginable tactic used to separate customers from their money.
Part 1: • Exposing Real Estate S...
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0:00 - Intro
0:19 - Part 1: Credit Cards
4:57 - Part 2: Advanced Training Packages
6:46 - Part 3: Fraud
8:41 - Part 4: Results
I attended one of these 3 day stock trading seminars put on by Rich Dad marketed as learning how to trade in 3 days. They did everything you mentioned: asking you to increase your credit limit, the instructor shed crocodile tears while talking about his mentor while upselling the mentoring program costing tens of thousands and preying on your emotions. I realized we weren't going to learn how to trade in 3 days so I left during a coffee break on the first day and never went back.
Same like all of his rich dad books. All bs talk and no concrete, solid advice.
@@jj-big-slay-yo yes, I realized now that he uses his books as marketing platforms to upsell his expensive "courses" and "mentoring programs"
Clever move mate
For me it was a Fortune Builder's seminar on real estate. What's worse I knew right away what they were doing and the demographic they were targeting. It broke my heart. Going after poor people with no understanding of debt or credit is cold-blooded. 🥶
@@blackseed68 It is and what makes it even more heartbreaking is when you encounter people who have been duped by schemes like this (I used to do customer service for a credit card company), you try to tell them that its a scam and how they're being tricked, and they won't listen. Due to the high variable rate APRs on a lot of credit cards, that kind of debt can be really nasty and hard to get out from under once you're in over your head.
WOW, just WOW!!! I totally fell for a SCAM & it cost me around $300 back in 2000. I’ve been on their list since & these real estate seminars are frequent. I’m too lazy to attend & for once, my laziness PAID off😎
I once lost $9,500 on a weekend real estate seminar. I wish there'd been someone like Spencer around before I spent that much money.
Dam how u get scammed for that much?
Man I'm sorry but you are dub as hell! 😂
But hope you learned I flipped 3k too 8k less then a year but. I won't go online telling people how to make more competition for me!
Understand something if they showing you how to do it! They making more money showing you then actually doing it! People too much like sheep to get it tho
Think like the poor even if you have money think like they are not yours.
Wow... Broh... Common sense cost $0.00 , but that aside i have some mountain water front property in space for sale . cheap $5000 a acre
I have a bridge to sell
I'll admit, they got me for $1500. The good thing was it was money I had, and not money borrowed. But you're right they were trying to push me to spend way more than I was comfortable with.
“I’ll admit...” 😂😂 sorry they got you man, but glad it wasn’t debt!
@@DNMWHOA yeah, at least I wasn't one of the ones that signed up for the $25,000 tier.
Ay man don’t even worry the best thing you gained was the knowledge to avoid these scams.
It shows you have great qualities to admit you were wrong and you've been scammed.
Humility is very underrated.
I wish you the best, OP.
Luckily my only scam ever was being scammed on a video game, Darkfall Online. They fleeced a $250 item off me haha.
When I was in college I went to one of these real estate seminars hosted by the school as a reporter for an independent school paper. I watched a lot of scam pitches and infomercials growing up and saw all the same hallmarks.
I wrote up an honest review of it in the paper and got bombarded with comments on the website about how I had like a poverty mindset and all this shit. Once they use emotions to hijack your reason, it's very difficult to break the spell.
I was in a bookclub with a “insurance agents” who claimed it was a entrepreneurship bookclub but found out it was basically an MLM. Everything was centered around mindset when I started asking actual business questions they were clueless.
Can you point us to your college news article online?
get woke go broke as they say
I was 17, I have seen, read 📚 their advertisements but my I knew it was scam. Some of them in jail, some got away...
@@Kenxclout Those sorts of bookclub exist? What a shame
Excellent report. The FTC should be as dedicated to helping people as Spencer Cornelia. Well done.
The FTC only cares about the fines they will collect from the defendants. They're in it only for the money.
@@joseg1787 yup these scammers were able to book expensive hotels, auditoriums and big meetings...there's no way they didnt know they were scamming people
they are
Just wait until someone uses the "dream" loophole: "Your honor, the defendant makes it very clear in their documents and seminars that they are selling a dream; the fantasy of becoming a real estate mogul/stock broker/transcendent spiritual being. The defendant helps those lacking imagination or proper googling/research skills to envision and emotionally connect with the aforementioned dreams. The defendant is a dreamweaver, selling the scaffold - or template if you will - of the dream as well as emotional support for buyers of it. The defendant doesn't sell a reality, but a dream."
I swear if some lawyer sees this n doesn't weave it into their defence for a case where it can be used...
@ Stefan B. I am almost certain this has already be done!!! I kind of feel like I have heard it before...
@@curtisalex456 And then it'll be a legit business with stores and all.
Costumer: "I'm looking for a dream; something casual for the weekend."
Shopkeeper: "We have great reviews for our woodcutter dream. It covers the types of trees in the area, clothing, axes, chainsaws and where to get them as well as techniques and how to chop them down."
Costumer: "Isn't it time consuming?"
Shopkeeper: "No, we've removed the part about getting a license and all that bureaucratic jazz."
Costumer: "Great, I'll take it! Make that two woodcutter dreams. My brother in law is outdoorsy and his birthday is coming up."
The dream defense has been used in criminal law many times...sleepwalking murderers...
Selling a dream is tough when youre literally in the property buisness. What reasonable person buys into an industry that is 100% based on the transaction of real property and expects only to be sold on a dream?
Hoestly weve all been sold on the dream defense by our constitution. Your not entitled to happiness only the pursuit of it. And thats the model these type of systems operate on.
However there have been a ton of court cases that create precedent that force these companies to put those little asterix on their advertising that say things like..."paid actor not rel client," "results are not typical" or "most people who sign up lose money."
What doss a lottery ticket sell you? Really? An unbelievably small chance of getting rich? Not really, they sell you the dream. 1 person gets rich but millions get to dream. J think this kind of practice is common.
Whats marriage? 50 50 shot of failure sold as the greatest thing you can do.
Its the American Dream to think you can get rich and or happy and to continue doing things that are really against your best interest to do so...like buying a lottery ticket, going to a seminar, working a dead end/ low ceiling job or getting married.
You can learn a lot about human psychology by watching these videos
I was about to fall into something similar.A man called Phil did it.I would have moved forward if I didn't see this.
👍
This feels worse than most scams, it doesn't just take money from marks -it pushes them to take on crippling debt.
it is because lives were LITERALLY ruined. like bankrupt ruined. its almost the same as mass stabbing people and but not enough to kill them but to make sure they suffer long enough.
Similar to for-profit colleges in the early 2000s
Gender study courses and some other fields in universities/colleges are scams too.
You're brainwashed to communism as a bonus.
@@Koozomec Do you know what communism is or do you just jack off to standard American buzzwords?
@@jjdelft3216 half of my familly has flee communism.
You can shove your manifesto up to your bottom.
Thank you for speaking about these companies! I’ll admit I was an idiot for attending Fortune Builders and you’re right I’ve never been in the real estate game before so this was very exiting to me at the time. I’m so ashamed for wasting my hard earned money at the workshop just for them to ask for thousands more after those classes were over. 💀 That’s when I realized they outta lost their damm minds with that one! After I left, they kept calling me to pay for the some more courses and when I said I didn’t have the money. They kept asking me to get some from my 401k, retirement funds, savings, ect. That’s when I kindly told them to never to contact me again. Yet, when I clicked on this video an ad came out. Lol
Kiyosaki literally got where he is with this scam. Insane how many gullible people think Kiyosaki has anything of practical value to offer.
Kiyosaki is now working with London Reel. Match made in hell 😀
i went to a class like this in Cali offering the same thing i felt the scammy vibes
These people could have literally taken a community college course in real estate and would have learned something.
This is me. Two years ago I fell for this. I was that stupid and got into massive credit card debt by falling for the lie out of desperation and exhaustion of my then (and current) financial circumstances. 😞
It's a lesson learned. You'll grow stronger from this experience, maybe strong enough to take cold financial revenge on these scumbags
*It's crazy how the things he's exposing are advertisements on his videos* 🤣🤣🤣🤣
it is the best place for these commercials
What commercials is free promoting,i have premium so i don't see any of the ads.
Spencer this is comepletely unrelated but thank you for always have subtitles available on your videos. It helps us who are not native speaker of English understand the videos better
I've filed bankruptcy after 3 years of business, started all on my own, finished it on my own. I would be pissed if I had to file bankruptcy because of something like this.
How do you recover from bankruptcy
@@pusico6555 It takes time man. But remember it gives you a clean slate, a fresh start. Recovery starts as soon as you get your discharge date.
Open a secured credit card, and start working on credit. You’ll be good in like less than 2 years. My credit score was like 550 after bankruptcy and now it’s 700 all a year and a half.
How do people fall for this type of scam? Who legitamately thinks its a good idea to spend $30,000+ on a course? How did they not just use that as a down payment...
Because theyre morons and scammers exist because so many people are legitimately stupid. They almost deserve eachother
Spencer, informative as always, and you were so close....truth is, you don't make any decisions based on on logic and reason. All decisions are based on emotions, and you will use logic and reason to justify the decision.
Good point
@@SpencerCornelia I've actually went to a Fortune Builder seminar and the guy talked NOTHING about Real Estate and just mindset and how "you should take action." Called them to get my money back and I told them how bad was the speaker. They left me a voicemail asking what the guy giving the seminar did wrong. LOL They don't even want to the watch the videos of the guy who's giving the seminar? WTF
I went to one of this sponsored by response. The mentor I was assigned didn’t know wholesale. I asked him to give me an example of a wholesale deal he had done and went on to “describe” what wholesale is.
I really appreciate all the work you put in to these, the world needs wisdom now more than ever
Thanks for doing this series. Just got my Real Estate license recently and seeing stuff like this makes me sick. Sad
These are the 2 best videos you've made. Amazing, inspiring work.
BRILLIANT WORK, SPENCER. DO NOT LET GO, BUDDY!
I love watching your videos Spencer. You have this smile/ smirk as you take down these phonies. LOL Keep it up mate!
Great video, we are plagued by this kind of get rich schemes up here in Canada. Here is my 2 cents for life, a large group of people can not keep a secret. There is no special secret computer program that will show you secret leads and deals, if there was one someone would have spilled the beans.
Gud morning Spencer, from Guam, USA!!! You've got the best show on RUclips and I watch it religiously. Man you're good!!! Be safe 😎
6:39 is so spot on. Thanks for that nugget.
Spencer love your video my guy🔥🤘
Lets GO !! props from Portugal
I'm so glad I watch these videos and avoid this bullshit. Thank you Spencer
Love the vids dude
College tuition is tailored to how much students can afford. For instance, every dollar in a 503b is going to result in a loss of one dollar in financial aid.
You can actually get a pretty valuable service from that though
keep up the good work love all your videos
What is truly sad is when these trainees call agents with the same "boiler plate questions" on Monday. Answer: "click". dial tone.
Lol thanks for the warning ahead of time !!
Where’s my primerica ballers or PHP millionaires at 🤣🤣🤣
Can you do an show on what a good real estate company looks like?
there are none. Real estate agents get their license and go to work for themselves or small private agencies. Any business selling courses is in the course-selling business, not real estate.
Spencer you're awesome!
KEEP UP THE GOOD WORK SPENCER 👏 👍 💪 Big Fan
Absolutely love your videos,
I hope more people Follow your channels especially during lockdown as these scams during lockdown have increased by multiples.
I stopped credits card when I was 19 year old .new bank try to give me one literally yesterday I say no thanks . said use it for emergency ,I survived 20 years without it.😆😁.I buy what I need .
yea but you need credit score for loans for homes and cars etc. credits not the enemy you just need to make sure not to put yourself in debt with them. make regular payments and pay them off don't let the interest eat you alive
@@ChosenOneDan paying your cell phone bill on time will increase your credit enough for a home loan. You absolutely do not ever need a credit card to achieve a high credit score.
@@ChristinaFromRUclips I like the perks and benefits having credit cards have. Just pay off what you buy and there's no issue. But yes you don't have to have them but missing out if you only have debit. 5% back from my Amazon card gives me 100s of dollars back every year for instance.
@@ChosenOneDan yeah you can actually make money with cash back and paying on time. :)
4:49 - Auto Financing “financed price because of your credit” or increasing/decreasing back end (gap, warranty, windshield, etc…) based on approved credit.
No dislikes I fkn love it 💪😎💯 all love bro from Milwaukee WI 💪😎💯
I booked a slot at a Rich Dad poor Dad free conference happening in Johannesburg. I'm glad I didn't attend because at that time I was gullible and would have lost money. Watching these scam exposed videos has really opened my eyes to the truth behind these free sessions and how they manipulate you to pay for more training.
Would love to hear about Paul Chek and the Chek program. Dude charges more than a university does to learn how to breath and stack rocks. SUS
thumbs this up ladies and gents
Actually revolving credit and buy here pay here car loans are sold to people in a similar manner. The car is sold on a monthly payment and the actual price is way higher than buying the same car elsewhere
I need more Tangram! More Cow Bell!
You mentioned not knowing of another business that figures out how much money a client has and alters the price of the product to match.
Car sales hands down.
We’d run credit before even finding out what the customer wanted and then figured out what they wanted to pay a month and then use the two to inflate car prices packed with fees and “upgrades”, stretching out the loan by a year or two then act like a hero for getting them a car (not THE car) in the range of what they could comfortably afford.. then got them to pay another $40/month at the end of it all.
Made $10k+ profit on some cars just by finding out what the client would be approved for based on our banks and then picking a car that maybe was close to what the customer actually wanted.
Like the first two parts. When will Part 3 come out?
What's funny is the ads that come up (which I skip, of course) are for phony get-rich-quick courses where I can "earn passive income."
6:40 That might be the most powerful statement you have ever said on this channel.
So sad. Partially because it's so obviously scammy (anyone telling you to raise your credit limit is scammy as it's known as the worst deal ever) but people are desperate and the sales people are inspirational
Secular cults for profit.
Such a disgusting scam. I feel really sorry for the people that fall for this.
i'm so fucking mad that i didn't go when invited.
let me explain...
one of my favorite things to do is go to these sorts of things (or pyramid scheme meetings) and waste literally as much time as humanly possible while pretending to be interested, while running into little "problems" with paying them.
🤣🤣🤣🤣
Too much wasted time, imma rather snooze
Spencer do you have to approve the ads you display or are they randomly assigned by youtube? Feel like I’ve seen ads on your channel that are similar to the people you’ve exposed.
I'll be honest last year was suckered into a real estate flipping program I Canada. I signed up for a 27k program and bumped my LOC to pay it. Although I learned alot in this experience, that money could have definitely been put to better use elsewhere.
Several years ago I attended a free Fortune Builders weekend event. It used exactly the same tactics. They were trying to convince me to use my 401k and the equity in my house for this training. Spencer is right this is a scam. I am so glad I didn't fall for it.
Another Banger
❤ pink shirt spencer
Car Sales. That’s the answer to your question at 4:45. Car sales people want to know if you are paying cash or already have a loan before even having you test drive a vehicle.
Hey Spencer! Thank you for posting, keep the ☕️ coming please. Those 🍑🎩’s almost bamboozled me a few years ago 😒.
Your videos are literally an eye-opener for most people.
The other thing is Education... people get into things that they have no understanding for, I know that real estate is not something I am into, then why spend money on Training that will make me money on Real Estate, when it was never in my radar... they just heard Guaranteed income... People should start there and not go any further than that in these scams.
4:50 I used to work at a tattoo shop and if you drove a nice car the prices at least doubled....
Congrats helping people not to lose money.
They are ruthless 😂😂😂😂
those people need to be sent to the squid game arena
😂🤣
Robert kiyosaki and Grant Cardone are some the thumbs down on this video 🤣
Do a video on timeshare scams please!
I once went to Robert Kiyosaki's workshop in Calgary(Rich Dad Poor Dad) i totally loved the teachings,
However he never showed up, saying
Last min he couldnt make it, it was then hosted by this guy named Darren weeks, i did not buy any of his product and walked off halfway.
Never attend another one
The book makes me start thinking about how worthwhile early investment is. I was upset when I found out who Robert Kiyosaki really is and what bother me most was his advice to invest money on knowledge (aka seminars). It's true at a degree but I learn to better decern truths and deceits. Happy to know that you leave before it got worse!
@@honoda5176you are right, if you listen/watch closely these people will almost always say 'invest in yourself' so you get the knowledge,,
Glad there's more clarity and transperancy now.
This guy will surely become a Christian one day. He is being more frank and fighting deception than us
He may very well be already
Join our seminars every sunday, give us 10% of your income, and we will show you how you can live forever. Spencer, are you ready to take this one on?
@@jamesharlanjohnson6882 😁😁😂🤣
Yeah sure I bet he would love to attend weekly seminars and give a tenth of his income to the host every time.
Here we go again part 2 🔥
Spencer when does the second episode of the car leasing series drop? I wanna see you getting that exotic car
Finally got my Tesla registered. Getting it wrapped next week then on Turo end of this month. As for the next video, I'm not sure. Couple be a couple of months
@@SpencerCornelia glad to hear that you’re still working on it! It’s my favourite series on your channel already. I was afraid that It was forgotten because it may got less clicks than the scammer videos
@@SpencerCornelia please do more on the music industry especially country...so dirty.
Pffbtbt lol your dad sounds like a champion. "Do not buy that crap." Mad lad.
This is sorta random. Just out of curiosity, what topic do you put your videos under? A more detailed information on your videos (how you write description, tags, category etc.). Would be interesting
"It's equivalent to someone graduating from an expensive college with student loan debt after obtaining a Cashier Operator Degree."
So.... most college graduates?
Hey Spencer, how do we find details on the free real estate meet ups?
I attended one of these events with my father in law, saw right through it and got him out of there.
it's hard to believe those people aren't incarcerated.
Never put in your creditcard details or personal information.
When they call you, hang up.
Can you make a vid on real ads that are valuable? To compare to the fake ones..
Spencer, what do you think of Tom ferry??
The big credit companies referenced are in on it too. This is probably why the #rsd dating company went down under
Fortune builders got me smh!
Same
uWu
You Cuuuuute. 💕
Had went to this bs in college . I didn’t know a damn think about Forex but when I asked dude to show me his bank account he gave me so much run around. When u asked him to show me proof with his name he said later. Ik it was bs
I love you dude you always bring logic to all of this nonsense you're doing an awesome job keep up the good work. The next step is to bring reality to the Trump nonsense that has taken over half of our country and I think you're the guy to do it! You stay very calm where I get very angry. Just start examining Trump's finances and his failures in his businesses and you could make some hilarious awesome videos! Please do it. I got your back homie. I'm in Portland Oregon actually outside of Portland and Sandy Oregon in a beautiful spot below Mount Hood if you ever come in this area you hit me up you got a place to stay buddy.
Money is so corrupting. If we really want empowered change, we must look beyond usury/commodity currencies that put quantitative prices on our heads. Any worthwhile currency must be based on the work of the people choosing to use it. No tax, fees, costs, or interest. Add paying for education and infrastructure, and we finally have a currency that values creating the highest quality experiences to empower the most people in the most sustainable way possible. Only then will we achieve a true, full energy exchange without a bank leak, and offer the empowerment and freedom all people are looking for.
🇺🇸🤠🇲🇽 people of the world " internet" stay in your Lane..If it's to good to be true..trust ur gut &
stay away from these scam🇲🇽🤠🇺🇸
Where’s is part 3?
I would guess that once the scammers are caught and brought to justice. They do very little time.
if it works; NOBODY would tell you it. Why you may ask, Competition of course. Think about it, if you are a youtuber and you want more people to watch your videos there's two way to go about it; Either TRUMP the ones at the top ( which is very difficult to do), or be among the first around that industry. Last example: if you are a male and there's 1000 females in the area but the best part is that YOU ARE THE ONLY MALE, it will indefinitely be easier to get one by your side ( at least one), but what if I told you that they were 1000 males including yourself among them but only 10 females.... Buddy you are OUT OF LUCK
As i watch this video . I got an ad for dev gadhvi .. please god i don't want this clown in my ads.. also thanks for the video Spencer
Your videos are dangerous. I feel like a millionaire thinking about all the money I'm saving not falling for these scams. I'm afraid I might get complacent with all this money I'm hoarding.
What are your thoughts on Tom Ferry?
Do Cutco next
can you do daniel savage? if you need info i can send it to you
Haha I got a mid-roll ad for a different real estate scam