Millionaire Mentor Group....worth the seminar?

[eblend]

Hey guys,

I normally don't fall for these, as they always look like scams, and this is no different, but if I sign up for a free seminar that they have in calgary on US real estate purchases for Canadians, do you think there would be any value in it? I am thinking of buying a place in the states at some point, and any info I can get would be useful, so I am contemplating to attend, but wondering if it is actually worth it or not, and if there is anything I should be aware of as I am sure they will try to sell me something..or sign somewhere, which obviously I won't do but want to know ahead of time.

Let me know

[RickDaTuner]

IMO there is nothing that these seminars can offer that you can't already find out on your own, or through a free web forum.

Its my belief that if you are going to make a million bucks, you are going to find the way to do it with out the help of these seminar type people.

I sit and think about these fly by night gurus that come and charge you $300-$3000 for a few hours of the their time. The reality is though that there is far to much to cover and learn in such a short time frame.

As for us realty... Many investors are considering it a gamble at this point in time. With all the foreclosures and banks reselling them to other banks and private holding firms, the risk to be out 30-50k dollars on a house with a poor paper trail is more than some would like to stomach.

There is also the fact that the US economy is teetering in all ways and directions right now, its not certain to say that there is going to be a market recoup in the near future.

Who knows the USD might be worth $0.50 Canadian in the next up and coming months ....

What is it that you are interested in to learn or get some insight with the US real estate market anyway?

[eblend]

I am thinking of moving to Seattle at some point in the future, so just wanted to get a very early start on information gathering.

Really not looking at it from an investment standpoint, more so on the steps required to get it done as a Canadian citizen (buy a home that is...not the greencard requirements ect)

[Sugarphreak]

...

[RickDaTuner]

Oh I get ya,

well as a Canadian its pretty easy to buy a home in the US, the banks will even give you a loan based on your Canadian FICO score and income.
The mortgaging Lawyer should take car of all the dealings needed to be done with the IRS, they will get you a US Social Insurance Number which is for the sole purpose of filling taxes on your property, and can not be used for employment.

As for getting a green card, you'll need to deal with that separately from buying the house, unless you pay cash for a house that is over 100k you wont get a green card based on property ownership.

Easiest way to get a us Green card is to have a post grad degree, and find an employer who is willing to sponsor you.

[eblend]

Originally posted by RickDaTuner
Oh I get ya,

well as a Canadian its pretty easy to buy a home in the US, the banks will even give you a loan based on your Canadian FICO score and income.
The mortgaging Lawyer should take car of all the dealings needed to be done with the IRS, they will get you a US Social Insurance Number which is for the sole purpose of filling taxes on your property, and can not be used for employment.

As for getting a green card, you'll need to deal with that separately from buying the house, unless you pay cash for a house that is over 100k you wont get a green card based on property ownership.

Easiest way to get a us Green card is to have a post grad degree, and find an employer who is willing to sponsor you.

Didn't even know you could get a greencard based on property ownership. That is good to know. Thanks for the info.

Waiting for my wife to finish her nursing so that she can apply as a nurse for a greencard, should be easier than me with a BCOMM in MGIS I would assume.

[RickDaTuner]

Originally posted by eblend


Didn't even know you could get a greencard based on property ownership. That is good to know. Thanks for the info.

Waiting for my wife to finish her nursing so that she can apply as a nurse for a greencard, should be easier than me with a BCOMM in MGIS I would assume.

Its not the property that gets you the green card, its the 100k invested in the american economy.

This is why it has to be cash though, A mortgage for 300k wont act the same way.

I think you two should actually be OK to enter the US fairly easily.

[clem24]

Free seminars are complete scams. There's a reason why they're free. I can guarantee you that the seminar will not talk at all about buying real estate. Instead, it'll talk about how you should sign up for a PAY seminar (which is also a scam) to get the real information (that you can probably find on the internet or just by talking to a real estate agent). This is how those "Rich Dad, Poor Dad" free seminars work.

Seriously if you wanted to buy US property, why don't you find an agent that deals with these kinds of things and talk to them instead?

[Feruk]

I've been to a few (my old man really likes them but never invests in anything they offer). At most of the ones I've been to, I've always learned a thing or two between all the commercialized dribble. I think if nothing more, you'll get a broad understanding and then can do further research on your own.

I say go! If it wasn't for California specifically, I'd say PM me the details. I don't wanna own property that'll be at the bottom of the ocean some day.

Originally posted by eblend
I am thinking of moving to Seattle at some point in the future

Have you ever been? Bad plan sir!

[Freeskier]

Have YOU ever been?! Seattle is rad, at least to visit. Great waterfront, good sports options, lots of awesome bars and restaurants. Seattle is super fun.

[mikewolf1]

I'm a Canadian who's been investing in the US for 7 years and am more than happy to share my experiences for free.

The seminar industry uses a model where they start you off at a free event, then sell you on a low priced event. At this low priced event they upsell you to more expensive services and at the end they try to sell you either very expensive coaching programs or overpriced homes.

You shouldn't spend more money on coaching then you will likely make on the properties that you are buying.



Mike Wolf

403-399-3464

[email protected]

[revelations]

I went to one of these free seminars years ago for buying real estate.

Frankly, I was impressed at the amount of info the gentleman was giving out - Hard MOney anyone?

It was very informative and I couldve put what I learned into practice without going into more seminars but $$ was tight at the time.

[BensonTT]

I remember going to one of these.. At the end of the show if you wanted to continue the course, then you pay a fee.. LoL

[ZenOps]

C'mon this is Beyond, you don't want to be talked to by a mere millionaire, you want at least a billionaire like Warren Buffet:

http://www.cnbc.com/id/47727249/Barg...Into_Final_Day

This year, lunch with Warren Buffet costed $3.4 million, although he used to command much much less - only $25,000 back in 2002.

Sort of like how a ton of Iron was $13 back in 2002, and then topped out at $180.

Carlos Slim got pretty close to $100 billionaire, before I hit 65 and if the US dollar still exists by then - I await the trillionaire.

Piece of advice: Just save your nickels.

[seadog]

Here's a $15k field report from redflagdeals...

http://forums.redflagdeals.com/milli...p-mmg-1194965/

He didn't seem impressed, not worth the $15k surprisingly...

[Toma]

LOL.... good luck with the $100,000 Green Card lol. Not gonna happen.

Minimum investment is $1,000,000, and even that is no guarantee, AND they give preference if you invest and create employment, not just buy a giant house.

As for filing American taxes if you hold porperty.... you only need to do that if you are renting the property, and decide to get a Tax ID number (ITIN). This allows you to deduct costs from your revenue, instead of paying a flat 30% if you choose not to file.

Seminars are a scam. ALL the information is out there. Or pick up the phone and call the IRS. They are actually VERY helpful.

Buying US property is a breeze, only thing I would suggest is hold extra liability insurance, and if you have multiple properties, put them in a Holding Corp., and then put a lien on them in your name.

That way, if the shit goes sideways, or someone makes a claim against your property, you get paid out first lol.

[LollerBrader]

Originally posted by eblend
Hey guys,

Let me know

Of course there is value in it.

The question is, how much value, and how much time and money will you spend getting that value.

Only you can determine the if the balance of tradeoffs are in your favor.

[thetransporter]

avoid all seminars. simple

[max_boost]

Trust no one. Invest in only what you know.

[HuMz]

Ive went to numerous real estate seminars over the years and there is alot of good information to learn. Just go for the free info, and whatever you learn take notes and you can do your own research. Instead of paying the hundreds, and sometimes thousands for all the learning materials the guys always offer.