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.
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!”
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.
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
Disclaimer: I'm just a landlord blogger; I'm 100% not qualified to give legal or financial advice. I'm a doofus. Any information I share is my unqualified opinion, and should never be construed as professional legal or financial advice. You should definitely get advice from a qualified professional for any legal or financial matters. For more information, please read my full disclaimer.