Beware of "Free" Workshop/Seminars

[kenntona]

A good reminder against those MLM seminars, investment schemes & talks, timeshare...... the market will always equilibrates easy money with high risks......

Tuesday August 21, 8:21 PM
Beware of 'Free' Workshops

I attended a free workshop sponsored by a company that teaches people how to open real estate investment companies. They're asking for $7,500 in exchange for mentoring me in this business. I checked with the real estate commission and they were unfamiliar with the company, but the Better Business Bureau listed no complaints against them. Is this a legitimate business opportunity?

-- T.G.M., Warminster, Pa.

Let's start with a bit of generic advice: Be careful about what you hear at free workshops. Are they all suspect? Of course not. You may pick up some great motivation, business tips, or life lessons. Unfortunately, however, the free workshop -- often held at a large hotel near an airport -- is the venue of choice for far too many hucksters, scam artists, and fraudulent individuals who target would-be entrepreneurs with dreams in their hearts and a bit of cash in their bank accounts.

Think about it: The workshop leader has gone to considerable expense to book space, prepare materials, provide refreshments, and market the event. Why? Out of the goodness of his heart? Possibly, but not very likely. More often, the seminar is a way for the leader to ensure a captive audience will listen to a hard-charging, high-pressure sales pitch for an "exciting business opportunity." Typically, the message is enticing but gives away no details: For that, you must purchase the expensive DVD set, book series, or consulting services that you don't really need or could get cheaper elsewhere.

Randall Hoth, president and chief executive officer of the Wisconsin Better Business Bureau, has often seen people persuaded to make unwise decisions after attending seminars that overpromise and underdeliver. "It is the BBB's experience that many consumers feel that the income potential described in these free seminars is often overstated," he says.

Get It in Writing: Do some independent research about real estate investment, and consider the timing. With the real estate market in serious upheaval at the moment, many seasoned professionals are hunkering down and hoping to ride out the storm. This may not be a good time for a novice to jump into the market! There are many good books and Web sites devoted to real estate and investment, so get lots of different opinions. After you learn more, if you're still interested in being mentored by the company that put on the seminar, go back and ask to have validated any income promises that were made to you. If the company told you that its previous clients are making a certain amount annually, get at least a dozen names and numbers and talk to them about their experiences and whether they think the mentoring they received was worth the money.

"Do not succumb to any high-pressure sales tactics, especially to give your credit-card number," Hoth says. "A reputable company would allow you to think it over before asking you to spend such a large amount of money." Also, he says, ask for a contract in advance and take it home for review by yourself and your attorney. "The contract should describe in detail what is meant by mentoring and also include information about refund or cancellation policies," Hoth notes.

You were right to check with the Better Business Bureau, BBB, for any past experience on the company, he says. But if there is no information available on a company through the BBB, you should keep checking other regulatory agencies until you can verify that the company is in good standing in some community, somewhere. For more information about avoiding scams, and practical business tips, check the BBB Web site.

Beware of 'Free' Workshops

[jawzsg]

However, if its held at Sar Lau for free ... then must go lah.. kekeekke

Bro Kent.. thanks for the head up, to be in the trade union, such once ban enterprises are now allowed. It can make victims out of many gullible while a few will get rich I guess. Its really up to every individual to be thoughful enough to evaluate what's been "offered" before making committment.

[Ahbengdriver]

If held at the 7th month Kho Tai platform, I will attend

[kenntona]

Originally Posted by jawzsg

However, if its held at Sar Lau for free ... then must go lah.. kekeekke

Originally Posted by Ahbengdriver

If held at the 7th month Kho Tai platform, I will attend

Sar Lau is not seminar lah. Sar Lau is seminal talk.

Originally Posted by jawzsg

Bro Kent.. thanks for the head up, to be in the trade union, such once ban enterprises are now allowed. It can make victims out of many gullible while a few will get rich I guess. Its really up to every individual to be thoughful enough to evaluate what's been "offered" before making committment.

Two issues are (1) the assymetrical information and (2) the lack of time to evaluate the options.

Most of these schemes thrived on not letting you evaluate the options or getting out......

[jawzsg]

Just remember to attain a black belt in saying "No" firmly before you even consider attending... at least to get out of the situation... but best is still avoid...

I really hates all those "cornering tactics" these MLM people uses... I think such tactics are best employed in the tracks anyway.