Should I attend those free property senimars? Can I trust real estate investment seminars? Look, there is no harm in attending these events, providing you are very sceptical and know absolutely you are able to resist signing up for anything at the actual event.
Property investors are keen to go to seminars for advice, but they rarely get any sound and useful advice. Most likely, they would be pressured into buying an overpriced property or spending a lot of money for more intensive learning programs that they later regret. There are countless examples of both these undesirable possibilities occurring at so-called “free” seminars.
No matter how much pressure is put on, do not agree to any course of action until you go away and do your own research and think it through, preferably with the help of an expert you trust.
If you do not think you can do this, do not attend these seminars as many are set up mainly to make money for the promoter.
They make money by selling you over-priced reports or books and by selling property and investments without letting you get independent advice. They often make misleading or deceptive claims or pressure you to buy into investments that will end up losing you money. Those investments offered at seminars are often overvalued and you may have to pay fees or commissions that you are not told about.
Also be wary of the so-called benefits of rent guarantees or discounts for buying off the plan. Often these are already built into the cost, meaning you will be paying way above market price for your investment.
You should never use a valuer or a lawyer recommended by those who are selling you the property. You need to get independent advice.
Also be extremely cautious of seminar promoters who promise phenomenal returns, particularly if they try to scare you into action with messages that imply you will be poor in later years if you do not follow their recipes for success. Many of them are lining their pockets for their own retirement.
Be very cautious of seminars that promise to teach you ‘“secret” or “exclusive” techniques to get rich quick. And do not be dazzled by celebrity endorsements or the presence of motivational speakers at a seminar.
Remember, always do your own research before you buy any property for investment.
Investment Property Calculator offers a free property investment calculator which can be useful. It shows you how much you need to investment on a weekly basis and also estimate your return on investment based on the assumptions you provide.