STOP Paying “Property Gurus” For Garbage Property Courses

Property Gurus Selling Property Courses

Deary me, this needs to stop. To-bloody-day!

Come on, friends, we’re better than this, aren’t we?

No one should hand over insane amounts of money to smug “property gurus” for their garbage property courses that promise falsehoods like “financial freedom”, “passive income” and teach junk like “rent-to-rent” (a stupid strategy so basic that you could learn it off a post-it note).

I don’t have an exclusive gripe with property gurus that specifically teach the principles of rent-to-rent, but it just so happens that many of these charlatans are teaching the bullshit as if they’re sharing valuable information, and they’re getting rich off the back of it.

I firmly believe that most property courses (or “academies” or “masterminds”, if you’re an absolute douche) that focus on teaching the ‘how to become a landlord‘ syllabus are a gigantic waste of time, money and everything else, especially those that are branded around narcissistic, self-proclaimed property millionaires. In fact, they’re by far the most worthless.

Avoid like the plague, unless you have exceptionally low expectations.

First and foremost, I’m going to go off on a slight tangent – as part of my therapy – and share how violently I gag when someone labels themselves as a “guru” of any form. Same goes for “ninja”, “coach” and “mentor” No one worth knowing brands them self as a guru. Genuinely, I’d rather hand my money over to someone that is a self-proclaimed “Property cock-face”

The reason I’ve finally cracked and decided to throw shade on property courses (and rent-to-rent) is because I’m being relentlessly chased on YouTube with the most excruciatingly nauseating adverts of ‘property millionaires’ – standing outside lavish mansions in their prom suit, like prized assholes – offering to teach me how to become a successful property millionaire without a deposit.

Crikey, that sounds as profoundly stupid as they look.

Thanks, but no thanks.

Recently, there’s also been heightened media attention around certain “property experts” that are being accused of shaking people down in exchange for information worth peanuts. The reality is, most of these donkeys aren’t even remotely successful in property; they’re usually highly leveraged, have a history of bankruptcies and failed businesses, and at best, they’re rich on paper, which in reality means they don’t have two pennies to rub together. They’re essentially sleaseball salesmen, and ironically, the only reason they’re trying to flog their shitty courses is because they’re not as successful as they’re projecting. Go figure.

What’s hilarious is how they counter, by saying, I don’t need to be doing this, but…”

Sweet. Fuck off then.

The biggest part of the scam is actually convincing you (and themselves) that they’re filthy rich and successful, often by using luxury cars as props, and strategically flashing their wrist around so you catch eye of their shiny Rolex. All the typical greaseball tactics you’d expect, really.

I’m not going to mention any specific names, because the thought of igniting a virtual war and locking horns with a guru that has less integrity than a soggy turd sounds equally as painful as attending one of their high-fiving seminars, crammed with knock-off success stories and Excel spreadsheets, comical “workshops” that teach people how to use Rightmove and calculate basic rental yield, and to top it off, the fabricated life story of how the coy dickweasel made it big time after they were down on their luck.

They know who they are.

Coy property guru

MAKE IT STOP!!

LA LA LA LA LA!! *sticks fingers in bleeding ears*

What concerns me the most is how some people look at what they do, listen to what they say, and then still think, “this greasy maggot seems like my kind of guy”, and then – without any due diligence, only shear misguided faith – follow the movement like it’s a religious cult, and worship the leader as if they’re the resurrection of Christ. I’ve painfully watched a few of the eerie seminars; the audience seem to hang onto every word of their leader, and frequently erupt into big high-fiving orgies and cheering parades over hot air.

Resurrection of Christ: “How many of you have attended this seminar because you want to become super successful just like me?? HANDS UP!”

Audience:

Hyping

I don’t know about you, but I’ve never attended a seminar and felt even remotely compelled to cheer or high-five because some prick is exaggerating about how many millions they have made, while I’m sitting there broke out of my ass, desperate as a one-legged hooker, and being sold an expensive and unlikely dream that comes with absolutely no guarantees. If that day ever comes, I will personally have my arms chopped off and shoved up my nostrils.

Many of these property gurus (“personalities”) are spreading their message and recruiting on YouTube. Their objective is to push out content to gain trust and lure us into free seminars with the sole intention of giving false hope and up-selling worthless junk. So while people have taken the effort to commute to a free seminar with the hope of learning valuable information, what they actually receive is one big, criminally unsophisticated sales pitch to buy the “good stuff”

Be wary of free property seminars – both in-person and online ones – because they’re almost always a toxic honey-trap; they’ll share the most basic and useless information, and then attempt to up-sell ludicrously expensive courses and services, which they claim is a gateway to the “premium” information.

Basically, free seminars are usually just one big opportunity for them to sell, not teach.

Statistically, once they have enough asses in seats, they know they’ll be enough mugs sprinting to the back of the hall, willing to heat up their credit cards. The stampede is often encouraged by ridiculous “90% early bird discounts” and the classic “limited availability” fearmongering tactic, the same one used by the shop on the high-street that has a closing down sale all year round. It’s all so stupid.

I love YouTube as a resource. But hump me sideways with an award winning aubergine, it’s enabled and given so many narcissists a platform to spew baloney and commit extortion. I swear, if I watch another property YouTuber fake a phone call, ‘closing a deal’ on camera, I’m going to scratch my bloody eyes out with a sledgehammer.

NO MORE!

THIS ALL NEEDS TO STOP!

DON’T TAKE THE BAIT!

Why rent-to-rent is being promoted like it’s the hot ticket by “property experts”!

I don’t really want to focus too much on the curriculum covered in these courses, but I do want to provide an example of how toxic they mostly are.

As said, there’s a big movement in rent-to-rent courses. I even caught a glimpse of a rather popular 18yr old YouTube “property entrepreneur” promoting it. What the hell do you know? Pipsqueek!

Presumably, we’re all on the same page about what rent-to-rent is? Essentially, I rent a property [which I believe isn’t operating as it’s full potential] from a landlord, and then I rent it out for more money to another tenant or tenants. You’re basically a property manager.

It’s not exactly rocket science, and that’s why I genuinely struggle to accept that people are paying thousands to unlock access to “premium” content and services (e.g. deal sourcing) and one-on-one mentorship to learn the ropes! However, I’m not really surprised it’s happening, because the rent-to-rent dream is easily glamourised.

“Become a property millionaire with passive income, all without a deposit”

*wets pants* TAKE MY MONEY!!!!!!! JUST TAKE IT! While you’re at it, take my dignity and screw my spouse in front of me!

Apparently working hard, saving money and putting down a healthy deposit is a mugs game. Who knew?

Sure, those that take the bait should take their fair share of responsibility, because really, they’re looking for shortcuts by wanting to profit from expensive toys without dropping a dime. That’s woefully naïve at best. However, there are real levels of exploitation in play by the puppet masters, and that’s where the root of evil stems from. Those peddling rent-to-rent property courses know they are preying on vulnerable people with limited funds, and they consciously target and lead them into a situation that is highly leveraged and unstable. It’s dangerous.

The problem with rent-to-rent, to name a few:

  • Firstly, it’s not “passive”, it’s far from passive. That’s a buzz word these wealth creation coaches love to toss around, because they want to emphasise the dream of making easy money.
  • There’s zero capital growth (which is how most landlords become financially secure and can justify losses like rent arrears in the long-term).
  • The entire model is entirely reliant on tenants paying rent on time. If they don’t, you are still liable to cover rent.
  • While the barrier to entry is remarkably low, the running costs is often the opposite because the margin for error is huge.
  • The risk/reward ratio almost never makes sense!
  • Rent-to-rent breaches almost all anti sub-letting terms and conditions found in mortgage policies, insurance policies and leases. Generally speaking, it’s extremely difficult to ensure full compliance.

Basically, it’s insanely difficult to be successful with it, yet it’s still being sold like it’s the golden ticket to kickstart your journey to property success [because it requires zero capital].

Dear lord, spare me!

Am I completely against rent-to-rent? I personally think it’s one of the dumbest approaches to achieve property success on the planet, but I’m not strictly against it under the right circumstances. If you can successfully make an honest living from it, fair play.

My main issue is with lying assholes profiteering by glamorising junk to the wrong people and charging unjustifiable amounts for the privilege, and that’s precisely what most property courses do, whether it be rent-to-rent or some other scheme.

Why *most* Property Courses are a gigantic waste of time!

Simply, there is no secret recipe, hidden formulas or shortcuts, I don’t care what any guru, expert, coach, mentor, or cock-face says. It’s almost certainly a scam if you’re being sold any of those unicorns.

In this day and age, everything you could possibly need is freely available, both online and offline. There are incredible resources available.

To clarify, I’m not point-blank against courses, seminars or networking events – there are decent ones around, especially the ones that deeply focus on legislation and compliance (which, in my opinion, is far more worthwhile learning than basic strategies of entry), held by reputable organisations (which means they’re transparent, and free or very fairly priced). So if you want to learn rent-to-rent properly, I recommend ensuring it covers compliance by someone reputable, like Tessa Shepperson (a Landlord Law solicitor) from landlordlaw.co.uk (I have no affiliation with them).

What I am against, however, are property courses – both free and paid – held by salesmen masquerading as property experts, with the purpose of upselling bullshit products for thousands of pounds. It’s wrong.

“I urge anyone thinking of undertaking one of these courses to put the company or the person’s name into google. Dig back at least 5 pages to see what is available about them on social media.

If in doubt, visit a property forum and ask.”

– Vanessa Warwick, Co-founder Property Tribes.

On that note, I would like to introduce my new super ethical property course.

I’m different. So you can sign up to my brand new “millionaires property playboy club” with confidence! I guarantee bum-slaps and bags of dosh raining from the sky.

Stay safe and sensible, my friends xoxo

55 Join the Conversation...

Showing 5 - 55 comments (out of 55)
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EarthCitizen 6th November, 2020 @ 12:44

Excellent blog by the Landlord. Having sat through a few of these so-called "free seminars" which turn out just to be sales pitches to sign up for extortionately priced courses, I sit there quietly steaming at what is clearly a rip off. And the shocking thing is people fall for it. On one course the loony presenter took out his phone to "sign in" to his bank account to show "all the payments" he was getting as proof of his authenticity. But firstly it was not possible to see the phone clearly and secondly the payments were probably from dumbass mugs signing up to his dumb course.

A ludicrous rent-to-rent scenario presented was a landlord losing money on his rental income being happy to make £40 per month by leasing the property to a rent-to-rent landlord. There's me thinking that the superior landlord could just as easily do what the rent-to-rent landlord would do - convert the property to a HMO and keep the profits for themselves. Who would be happy just making £40 per month?

Having a property to let, we often get approached by "rent-to-rent" merchants and they always offer to undercut the rent we make. Do they think everyone is an idiot!

Then the "courses" offer ridiculous discounts of a fraction of the supposed real price if you sign up "within the next 30 minutes"... except the 30 minutes is extended if not enough mugs sign up.

Common sense dictates that a successful millionaire would not waste their time flogging courses.

By the way, can you not unsubscribe from receiving the spam? GDPR and all that (even if we are Brexshitting!).

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EarthCitizen 6th November, 2020 @ 12:50

PS What I love about the Landlord is that you tell it like it is and don't mince your words. You should have named names!

There's one particular landlord property website that flogs these courses and sells financial solutions and another that flogs so-called SMART COMPANIES (just a fancy term for a Limited Partnership), but seemingly charge £10,000 for that precious information. Except that it is possible to set up the "SMART COMPANY" on Companies House for £20. That's some mark-up.

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Hadven 6th November, 2020 @ 12:54

I almost literally spat my Moët out over my Bentley and the back of poor Jeeves when I read this.

And here’s why...

Three years ago I was low, my girlfriend had left me taking my Tiddles my blue eyed lop haired rabbit leaving me with almost nothing. I was struggling to make ends meet at the knot factory and lost my job. Even my parol officer didn’t want to know me as I couldn’t even afford deodorant. It was then, whilst sipping old, luke warm coffee outside an estate agents fire exit to escape the bitter cold that I had my breakthrough.

I could hear all of their secrets through the fire escape door which backed onto their seminar room! I learned how to QuarterBoom Leverage a Hilted Deposit, I gained insight into the legendary almost lost HMOkeeKokey and realised there and then ‘that’s what its all about’.

Fast forward to now and I’m being whisked to my private yacht from my London mansion with my favourite Russian model - and with only a 15 year age difference she has to love me for me right. My life has totally become your version of amazing!

Given that there is far too much money in the world for me to make alone and us billionaires are always giving commercial Secrets Away I’ve decided to pass this knowledge on to random strangers.

To keep it exclusive I need to charge a small fee, usually it’s be £1000 but if you click the link in the above article and the third falling money bag in the next 1 hour and 21 minutes the course is yours for just £349! That’s a £651 value saving that is definitely scientific and not at all made up on the spot. Just remember it’s time limited and your just going to become poorer in that time unless you TAKE POSITIVE ACTION!

I’d post testimonials but I’m too lazy to fabricate them.... erm I mean there aren’t enough characters left here (or both).

Maybe I’ll see you soon in the Bahamas on your yacht!

Kisses
The Property Cock Face Guru Ninja Academy of Boom

PS Millionaire Guru was not an option when selecting who i was.

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Uncle Albert 6th November, 2020 @ 13:02

"The Contrepreneur Formula Exposed"

https://www.youtube.com/watch?v=vC5cmW8O3L8&feature=youtu.be

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Carmel 6th November, 2020 @ 13:25

their always out there trying to con us. Thanks for sharing but won't be going that route any time soon

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Renovation man 6th November, 2020 @ 14:14

I hadn't even heard of this. The idea of guru's who have made so much money they now want to share the secrets is hardly a new one. Get rich quick schemes always have something in common. The guy heading the scheme is the only one to get rich. A fool and his money are soon parted.

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Mary 6th November, 2020 @ 14:45

Oh Lord Landlord, how I love your blogs. Having been conned once I immediately spotted their impossible achievements if it sounds too good to be true BEWARE.

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peter hall 6th November, 2020 @ 14:59

So true, your comments on these idiot courses -----cant work with the low income lot and even more likely to fail with the RA Ra crowd who do not have any real assets just a bit of flash .

would like to hear your views on the state imposing 6 month notice periods on section 21 notices bunch of cowboys only really rocking the boat and risking landlords selling out

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gerry roberts 6th November, 2020 @ 15:48

Well said, well said,I am dealing with a guy who got scammed out of his Military pension by a couple of these scammers. watch out for a Neil Ashby, Akkom Property Services, Riccardo Zappia, or Zebra Lodge in Blackpool. Any of those connections stay away.

Having said that, anyone who falls for that old Shit is more likely gonna get conned somewhere along the way. But then I`m probably preaching to the initiate here.

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Paul Barrett 6th November, 2020 @ 17:20

Unfortunately despite your best efforts the lazy and greedy will still fall for the blandishments of these snake oil salesmen.

Not much even you can do to defeat human avarice.

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BogBeast 6th November, 2020 @ 17:36

"Lol. I feel your pain. My insta, LinkedIn and YouTube bombards me with this sort of stuff too."

That's your problem right there.

You are subscribed to LinkedIn, Instagram, Facebook, Twatter -- etc etc ad infinitum

NOTHING good (other than perhaps funny dog and cat videos) comes out of them. You are the product and the target for this dross. And the reason for it - you are making yourself a fat target by letting them know your interests and attracting and encouraging these leaches.

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J.C 7th November, 2020 @ 08:14

rent-to-rent? It's called subletting?
which is forbidden and illegal under every standard rental agreement.
Do they say how to find a property that can be legally sublet? or just encourage you to go black market.
I know there are schemes that do it but it's piles of paperwork and first of all, go find a landlord happy doing it. As you say, their mortgage and insurance won't be happy.

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J.C 7th November, 2020 @ 10:27

@BogBeast
sorry you're coming over as an old fart whose main mantra is "Nothing is as good now as in my days" lol
I agree the platforms are full of targetted ads. But.
I don't use all of the them myself but that's no valid reason to slash them, like you I would be soon found out I don't know what I'm talking about!
PS. Try putting in the search box something useful like "how to prune plum tree so it doesn't die" or a favourite childhood rhyme you want to show a kid instead of "cute kittens compilation"!!

@Landlord
I actually wish you named the "gurus", maybe in a separate blog post? I get LandlordZone newsletter and in one email they criticise a property course and in the next they offer one... I've no time to watch them nor expand my rentals anyway but it tickles curiosity.

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R G 7th November, 2020 @ 10:43

As Philias T Barnum said "There is one born every minute"

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Nathan 7th November, 2020 @ 13:19

What’s hilarious is how they counter, by saying, “I don’t need to be doing this, but…”

Sweet. Fuck off then.

Fantastic, and so true! Great to read this, it confirms what I have felt. I always need to know more, but not at great great cost!

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john 7th November, 2020 @ 19:11

Am I the only one to be disappointed to find that the millionaires' property playboy club isn't real?
Ok, so I'm not quite a millionaire - yet - and the only reason I'm not a playboy is that my wife won't let me.. but I really deserve to be in this club.

Is there a seminar or a course I can go on?

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The Landlord 7th November, 2020 @ 23:50

As always, many thanks for all the comments and positive feedback, people! Appreciated. Glad we're all on the same wavelength about these awful courses! Hopefully it's encouraged precaution to someone.

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The Landlord 7th November, 2020 @ 23:56

@Josh
Ha, I did actually :) It was kind of a last minute idea.

Sorry about the crash (poor coding). I guess I should have anticipated that someone would click the crap out of the link.

Yeah, that's exactly what I'm talking about, and it really is sad. Hopefully this will stop others from making the same mistake as them, even if only one person.

Many thanks, Josh!

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The Landlord 8th November, 2020 @ 00:22

@Mr ALI

Jesus Christ, what kind of people have £20k to drop on a course? That's insane!! I regularly hear of £5k courses, which last for 3 - 5 days, and that makes me squirm. £20k is on another level.

The "passive income" dream is such a classic hook, cracks me up!

lol @ Afghani landmine. I've never heard of the commercial property gimmick, but it sounds about right.

I do agree, I think these courses should be regulated somehow, so there is a minimal standard. Doubt it will happen, though!

Nice one, Mr Ali, take it easy!

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The Landlord 8th November, 2020 @ 00:29

@Jackie V

Yeah, I also heard that about the squaddy; apparently he plummeted a lot of money into one of these bogus courses and when it didn't materialise into "property success", it pushed him over the edge. The guy obviously had other things going on, but it just shows that these courses target vulnerable people. Very sad.

Agreed, it's not easy! That's also part of the big problem, people want an easy ride. So when they're being told it's possible by someone that comes across as successful, they jump on it like flies on sh*t!

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The Landlord 8th November, 2020 @ 00:41

@EarthCitizen

Hahah, that's so ridiculous, when they whip out their bank statements as "proof"

"LOOK, LOOK, LOOK AT ALL THESE BEAUTIFUL INCOMING TRANSACTIONS!!

DO YOU WANT TO BE A LOSER ALL YOUR LIFE, OR DO YOU ALSO WANT BEAUTIFUL TRANSACTIONS?"

Yup, that's the problem with rent-to-rent: high-risk, low bloody reward! To make a decent income you have to scale like crazy (i.e. manage several properties), but then you're highly leveraged and it becomes insanely risky! The whole thing is just so stupid.

Ha, yeah, the "limited availability" scare and "early bird" discounts are like the shop on the high-street that has a closing down sale all year round.

Thanks, EarthCitizen, appreciate it. Ha, I was tempted to name names to be fair, but then remembered these rat-weasels almost always kick up a fuss and it becomes one big palava. It's happened to me a few times when I've called someone out. They eventually quieten down, but the storm before that is real! Endless emails, and baseless legal threats from fictitious lawyers etc. Funny thing is, half of them wouldn't even be able to pay the legal bills!

Bloody hell, I hope my £10k Limited Partnership comes with a company logo, a letterhead and stationary! Otherwise I'd be royally pissed!

P.s. Which spam? You mean, the comment spam?

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The Landlord 8th November, 2020 @ 00:58

@Hadven

Hahah, you NAILED IT!

That's literally the template they all use.

"I don't need to be doing this, but I feel obligated to give back to the community."

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The Landlord 8th November, 2020 @ 01:21

@Uncle Albert
That video was brilliant, he basically covered it all, including the psychology behind how these garbage courses work.

I particularly agreed with the part where he says it's not only stupid people that get scammed, but it's also largely depends on where someone is in life!

Thanks for sharing!! I can only encourage others to watch it, too: "The Contrepreneur Formula Exposed", https://www.youtube.com/watch?v=vC5cmW8O3L8

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The Landlord 8th November, 2020 @ 01:26

@Renovation man
100% agreed.

I love that saying because it's so true, "A fool and his money are soon parted."

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The Landlord 8th November, 2020 @ 01:31

@peter hall
Are you referring to the coronavirus Section 21/8 notice extension period? If so, yup, they are beyond infuriating. The Government have basically fed landlords to the sharks during the coronavirus. I already had a rant about it in my Coronavirus Update #3 For Landlords (Tenant Eviction & Repossession Bans) blog post.

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The Landlord 8th November, 2020 @ 01:42

@gerry roberts
Ah, as discussed in a previous comment (#24), I recently read a similarly story of an army solider being scammed out of his savings. He ended up committing suicide. Very sad!!

The BBC did a report on it: https://www.bbc.co.uk/news/uk-england-south-yorkshire-51046596

Hope you have success with the guy you're helping!

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The Landlord 8th November, 2020 @ 01:43

@Paul Barrett

Oh, come on Paul. Don't be so pessimistic! If everyone thought like that, nothing would get done.

If this blog post helps just ONE person avoid a property course scam, then this is a success in my eyes!

Have faith, my brother!

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The Landlord 8th November, 2020 @ 01:59

@J.C

Yeah, it's essentially a form of sub-letting. Although, sub-letting in the traditional sense is when the primary tenant remains in the property and sub-lets a spare room to someone else, usually to help cover the rent.

I did watch one seminar, when someone in the audience asked a question about the legal implications of sub-letting, and I vaguely remember they kind of just waved it off by saying, "you can get away with it"

I'm pretty sure that's how most of them operate - they either avoid the topic altogether, or brush over the topic and make it all seem like a non-issue. It's really messed up.

Yup, it's a whole pile of hassle if you do it properly, but most don't (because they're not taught, which is where the main problem lies).

Hah, I'm subscribed to the LandlordZone newsletter. They promote a lot of garbage services in my opinion, I think they just advertise any service that's willing to pay to be in a mailshot, which is probably why there's some contradiction with what they say, and what they promote.

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The Landlord 8th November, 2020 @ 02:11

@John

Well, funny enough, I do have another course for those don't qualify for the premium millionaires' property playboy club, which teaches 'how to be a millionaire property playboy' so you do qualify!!

There are limited spaces available, so act fast, unless you want to continue with your mundane, same-old monogamous relationship and pot-noddle dinners.

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Simon 8th November, 2020 @ 13:32

Good article. Very funny pay off at the end.

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andrewa 9th November, 2020 @ 07:50

The real reason there aren't more members of the real estate millionaire property club?

If it was easy,and required no work, everyone would be doing it!

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Stan 9th November, 2020 @ 11:40

Great blog and great youtube video. I'm a seasoned landlord with over 30 years experience and was always wondering what I was missing by not paying for one of these courses, now thanks to you I have found out....... BULLSHIT. Keep up your brilliant blogs.

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Paul 10th November, 2020 @ 12:29

I heard a case on BBC Consumer show on local radio; this poor woman paid £9000.

It was all hype and the first thing they got her to do was make a video she was happy (she had not actually had the course fully delivered.

The course promised a sort on mastermind (a word commonly used for upsells) with a so called Guru.

Honestly, anyone thinking of doing this SLAP YOURSELF IN THE FACE and if you have the money to lose then donate to to a charity for homeless.

I doubt they give anything you can't get from reading Sarah Beeny property books (see link below).

What I would suggest to any poor sod who got conned is to make a new YouTube video every week concerning the company who conned you, share that video on social media, tweet the company with a link to the video every week.

If you want to become a more professional Landlord you could do worse than do ARLA qualifactions for letting agencies which will give you an idea of the processes in managing your properties.

https://www.amazon.co.uk/Books-Sarah-Beeny/s?rh=n%3A266239%2Cp_lbr_books_authors_browse-bin%3ASarah+Beeny

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Jazzert1000 10th November, 2020 @ 12:42

You set me off on a call them out mission!

Watch "How Bradley Makes £10k Profit Per Month With Serviced Accommodation at 21 | Property Investing" on YouTube
https://youtu.be/uRyGbAnhYz4

Pure and utter bollocks, 5k investment in a 5 year deal returning 60 k!
So you are trying to tell us a landlord has a property that can generate 1k a month but he's not really in it for the profit, he is ok with just 1k a year.
Have a word with yourselves and get a calculator!

He did get back to me, but no links to the business as yet.

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Vanessa Warwick 12th November, 2020 @ 08:30

Thanks for drawing attention to this issue. The more awareness the better. The "wealth creation" industry is completely unregulated and, as a result, people lose life-changing amounts of money and have very few routes of redress.

One of the most successful ones is to apply to your credit or debit card company for what is known as a "charge back". They have to refund the money if you believe you have been mis-sold something.

The live events of these gurus were used to whip people up into a highly emotive state so that they could be "sold to".

Now all these gurus have had to go on line, they can't generate the same emotive state, and marketing funnels are drying up.

They are making bigger and bigger claims about their wealth and success as they become more desperate. They've all got the secret to being successful in property during a pandemic! The concerning thing is that analysis proves that the bigger the lie, the more believable it is.

I urge anyone thinking of undertaking one of these courses to put the company or the person's name into google. Dig back at least 5 pages to see what is available about them on social media.

If in doubt, visit a property forum and ask.

With so much information available in the public domain, there is no reason anyone should part with money to nefarious wealth creation gurus.

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GriffMG 12th November, 2020 @ 16:03

Great article, thank you.

I have been to one free event, well organised and not TOO salesy, just before 2008 crash, all very upbeat on BTL - people selling mortgages, surveys and accounting services I think. No wonka gurus. Complete waste of an afternoon.

How's the coffee coming?

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The Landlord 12th November, 2020 @ 22:48

@Paul,
Haha, yup, "mastermind" is another classic term thrown around by the gurus! "Join our property mastermind to achieve financial freedom"

Agreed, there's still a lot of solid information in good old fashioned books! In fact, I think they're the best place to start.

Problem is with exposing these people is that they have lawyers on retainer, and they send out threatening letters for fun, which is often enough to scare the crap out of people. I imagine it's really difficult to prove anything against them because what they're selling isn't intangible (knowledge/information).

But yes, I'd love to see more of the victims go psycho on them and refuse to back down!

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The Landlord 12th November, 2020 @ 23:03

@Jazzert1000,

Hah, just watched the video. I like how they jazzed up "rent to rent" by calling it "Serviced Accommodation"

So his model sounds like it's based on short-lettings, because he says he lists on Airbnb and Booking.com to find tenants. I wouldn't be surprised if he's out of business right now, because the pandemic has pretty much destroyed short-lets. That's the problem with this whole rent-to-rent model, it's a house of cards.

But regardless, I just don't understand how this can be profitable when you consider all the costs: marketing, void periods, furnishing, maintenance and repairs etc. unless you have dozens of properties and a high occupancy rate. It just seems like so much hassle, and too high-risk.

This is the worst strategy for new landlords with little capital, for sure.

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The Landlord 12th November, 2020 @ 23:18

@Vanessa Warwick,

Great comment! Nice tips, and a breakdown of how they manipulate people into hot leads.

I think right now is a particularly dangerous moment in time because more people are getting desperate due to the pandemic, and that is making them more susceptible to latch onto these outlandish claims. These aren't stupid people, they're just in dire times, and they're looking for an escape route.

I know there's been a surge of these wealth creation gurus since the pandemic started (because I'm seeing a different YouTube advert starring a new guru every day), all hoping to take advantage of other peoples desperation.

The more awareness we create, the better.

Thanks for dropping by and sharing your insight!

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The Landlord 12th November, 2020 @ 23:28

@GriffMG,

Did you buy anything??!?! A nice new shiny mortgage policy, perhaps?

Ahh, the coffee. I'm like a mad scientist, I'm starting to scare myself! I've just ordered a VST filter basket - apparently they make all the difference when it comes to consistent extraction.

So right now I'm trying to learn about coffee beans. I'm really getting confused by the large array available. Which is the best for Espressos? Am a single origin kinda' guy? If so, am I Columbian, Ethiopian, Peruvian etc? Or do I just like a good old fashioned Blend?

Do I have the time or will to try all these different options to find my favourite poison?

It's a freaking minefield, I'm losing my mind! Haha.

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GriffMG 13th November, 2020 @ 18:15

@Landlord

No we didn't buy anything, did have a miserable coffeelike cup of something!

A VST filter basket? Something to look up!

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GriffMG 13th November, 2020 @ 18:58

@Landlord

Darn it! The group on a La Pavoni is 49mm, no VST for that...

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The Secret Landlord 14th November, 2020 @ 13:04

Totally with you. I genuinely have no understanding how people can be so absolutely naive to even buy into the course let alone the hype.

Desperation must be the only explanation.

Or maybe it’s some sort of Trumpism that single-mindedly scoops out your brain and fills it with belief you too can be a lizard if you buy my book.

Unfortunately, I fell for your bait: I have now registered the course “Property cock-face”.

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Chris 28th November, 2020 @ 15:25

Dude. I love your work! I've been banging on for decades about Property Gurus. I just wish I could get away with your language on my site. Keep up the good work!

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The Landlord 28th November, 2020 @ 21:55

@GriffMG

Ha, I follow some dude in America (or maybe he's Canadian) on YouTube who does a lot of videos with his La Pavoni, and he said one of the biggest drawbacks is that it uses a non-standard group head/portafilter size! It looks like a cool contraption, though.

I've been pulling quite a few shots recently with the precision basket (VST) and it definitely makes a difference compared to the standard one I got with my Gaggio Classic.

I'm sure you should be able to get one for the La Pavoni. VST is just the brand, I know IMS is quite popular also. Just Google "la pavoni precision basket"

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The Landlord 28th November, 2020 @ 22:03

@The Secret Landlord,

Yeah, agreed, desperation is a big factor. But that's definitely not a coincidence- many of these courses are designed to lure in vulnerable people because they're easier to extract money from. It's less likely for someone in a good position to take the "make money fast" bait.

Ha, well like I said, you could do a lot worse than property cock-face :)

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The Landlord 28th November, 2020 @ 22:20

@Chris!! Ha, what the hell are you doing over here? What a pleasant surprise. Thank you, really appreciate it.

Funny enough, this blog post also managed to prompt a cameo from Vanessa (Property Tribes).

This feels like "The Fellowship of the Ring", where the fight against pure evil is bringing together various figures from different communities.

Stay in your lane Chris, my freestyling flow is my only USP, hah.

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TraineeRich 30th November, 2020 @ 00:34

This same kind of diatribe exists in the investment world too, targeting equally vulnerable people promising absolutely nothing. Sadly even "ex-professionals" are peddling the same kind of nonsense, but they're the same people who have had a remarkably short tenure at their previous employment.. Begs the same kind of questions too - if you were so good, why did you ever need to leave?

I'm new here and look forward to reading more. Sorry to run off track somewhat - I just read your post on your aversion to stocks and shares and I ironically find myself in the reverse position. I've spent considerable time understanding how to gain safe and consistent returns in the market, but have an inherent fear of the property world!

My background is neither in property nor finance, but legal instead. I'm interested in your experience from the ground and will be watching this space with a keen eye from both a personal and professional perspective.

Love the style and keep up the contributions! Best, TraineeRich

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Rainbow girl 30th November, 2020 @ 09:50

Dear The Landlord,
I only wish I read this blog a few years back before I ended up on one of those courses. I went to my first ever Property Show in London, where a Property Guru had a free taster session and sold me his course for £399! I was hungry for knowledge and thought that there was a lot more to learn (although I was already financially independent and living off my properties successfully! How naive was I?). Anyway, I ended up in a cramped stuffy space above his agency with 20 other people, with curtains pulled over windows even during the day. While he and his guest speakers "enlightened" us with his knowledge, we were offered to go into a joint venture with him for £5,000 or for more adventurous amongst us, get an exclusive access to the guru himself for £20,000! I seriously thought to go for the first option while I watched many people sign up on the flip chart in the middle of the room. But, the alarm bells started ringing from the moment I stepped into his agency. In 3 days we were there, I couldn't see a single customer come through the door. He kept saying he never had any money to put the deposit down and was buying properties for £1, and I kept wondering why when you just made £8k from us all here in the room!? Yes, he had a flashy car (luckily I am indifferent to them), and as part of the package invited us to his home for a drink to show his home off. The first thing I noticed was that it was in a dire location, which really bothered me (surely a property guru knew the first, second and the third rule of any property purchase!). His kitchen was flashy with many gadgets (but worse quality than mine was) and light were twinkling in the small garden outside. Nosy me spotted that the rooms not allocated for the entertaining that evening were not even furnished properly. I stopped myself signing on the dot, came back home and together with my husband sat down to research the guy on the net. He was difficult to find, but I did find him on the Property Tribes forum. Thank you Vanessa Warwick, I will be forever in your debt for stopping me wasting my money! A valuable lesson learnt that day.
Yours truly,
Rainbow girl

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The Landlord 1st December, 2020 @ 19:12

@TraineeRich,

Yeah, I think it's the whole "wealth creation" sector, it's just full of snake-oil, especially now more than ever.

Oh, that's interesting. I need to update that blog post actually, with my monthly performance. My mutual funds with Nutmeg has been surging recently.

What kind of stocks/shares do you invest in (don't get too technical, please. I literally won't understand a word)?

Thanks maaan, appreciate it!

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The Landlord 1st December, 2020 @ 19:24

@Rainbow girl.

Oh wow, what a story, and thank you for sharing!! I hope everyone reads it.

That's precisely what people need to be aware of. These gurus are largely illusionists- they only show you what they want you to see, which is usually the flashy cars, and in your case, the nice rooms!

Interestingly, I've always found the following to be an invaluable strategy: buy the worst property in the best area.

He seems to have done the complete opposite :)

I think you did great, you picked up on all the tell-tale signs and realised something didn't quite add up, and then acted accordingly! Glad to hear you dodged that bullet. Unfortunately, many don't.

Thanks again!

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