If you're sitting in the Legacy Education Real Estate class taught by Laurie Waddel, googling reviews and wondering if you've been scammed... then it's too late for you.
They have your money, all you can do is decide how you want to spend your weekend. If you are at the free seminar and considering pre-paying for the $399 for the ELITE REAL ESTATE seminar, I do not recommend it. I wouldn’t call it a total scam, but I wouldn’t defend it if someone claimed it was. After all, I did learn a few things; just not worth $400, time off work, and a weekend.
My suggestion: Read on, and read other reviews on the internet before spending any money on this. If you’ve already spent the money…you might find it worthwhile to stay. It’s up to you. Day1: They handed out a spiral course book with sections for notes, but she wouldn't be teaching out of the book.
By the beginning of day 2, I realized she didn't teach anything out of the book. I had zero notes in it. Laurie talking a lot about her background and how she ended up teaching you, here today. Has she mentioned yet how she's so rich she doesn't have to teach?
That, she doing this to help others and that she simply loves to fly and teach? Give it time, she will. 5 minutes about fix/flip houses for minimum profit of $30,000, 25 minutes of personal information and non-relevant information. Remember: Be patient, show some faith.
Above all…be coachable. Finally! We're talking (By we, I mean her and her staff. No questions allowed) about strategies.
Earned income, passive, and portfolio strategies based on different situations, this is great! I hadn't thought of it that way....and now we're talking about personal stories again. Terrific. The most informative section was the last two hours of the first day.
She talked about value of mobile homes parks and passive income: 200-300/month/lot and very low maintenance as compared to traditional single family rentals. She walked us through our monthly expenses and how many MH lots you’d need to own in order to pay those expenses, how much the 25% dwn pmt/closing costs for that park, and therefor how many fix/flip houses with 30k profit you’d need to do. No question and answer session today. Day 2: 9:00-YES!
Class started right on time, that’s a sure sign of a well-run class. 9:30- “Let me tell you about my children. My son…” Or not. Tip: start a few lists and keep track of what she’s saying.
First list: tally how many time she says mentor or mentoring. Second: Listen carefully to what she’s saying and write down when she promises what she’s going to teach you, what you’re going to learn about, what’s going to be covered/talked about this weekend, “by the end of the weekend you’re going to know”, or any type of promise. You’ll notice you have more promises than notes. Third: start a timeline.
9:35- Started slideshow on federal reserve. 9:45- Transitioned to talking about the richest guys in American history. 9:50- Son has bachelor’s degree, working on master’s degree. Not working because of his real estate investments, learned in this type of seminar.
10:00- Earned income is a good strategy for certain situations. 10:01- The weather conditions in Iowa. Trust me, you’ll have time for all this. Clear signs, looking back: 1.
On day 1- "When we take our break, come talk to us...Don't just talk with others at your table, you want to work your way up. If you talk with people that are in same station in life as you, you'll be just like them." They don't want you comparing notes with others, while at the same time making you think you're better than the others. 2. "We only have 3 days, so I'm going to briefly explain each real estate investing strategy." That made sense, yet...
why are you spending so much time talking about non-real estate information? Personal stories should tie into strategies, techniques, or at least personal development accomplishments. 3. "Hold your questions till the question and answer section, right before the break." This makes sense; some people will bombard the lecturer with too many questions or life stories.
Yet, she never took time for questions. Any good teacher solicits questions, in order to make sure students can clarify the information. 4. Too much personal development 5.
On day 2, hour 1- she notices we’re staring blankly at her or on our phones, bored out of our minds, and asks, “Did any of you put the ad in the paper?” We all look at her. “…did anyone put the ad out saying ‘Will buy real estate, cash or terms?...No one?...Nobody put an ad out….ok.” She said this with enough condescension to make some people feel bad, but not so much to alienate everyone all at once. Now, we don’t know what “terms” means, because we’re 9 hours into a real estate seminar and WE HAVEN’T TALKED ABOUT BUYING REAL ESTATE “CASH OR TERMS”. She followed with a head shake and “Sometimes you gotta take the initiative….here, let’s move one.” Well done, Laurie and Legacy Education, well done.
Last thoughts, being coachable doesn’t mean being gullible. They already have your money and they don’t want you questioning them in front of the others so they’ll be glad if you leave.
Don’t be rude and loud, you’ll be the bad guy. Be assertive and confident.
Product or Service Mentioned: Legacy Education Alliance Elite Training Seminar.
Reason of review: Bad quality.