Is Real Estate Riches in PA a scam?

Question

We were looking into investing and wanted to know if it is a legitimate thing or if it doesn't pay off. Any advise?

Answer 1

I took an hour and a half drive one way last weekend and counted 7 RE "scheme" advertisings on the way back.  

You don't need some expensive plan to get rich in RE.  You need a strategy, some money, some common sense, knowledge of the market and a little luck doesn't hurt.

Answer 2

nothings ever 100 percent

Answer 3

It sure sounds like the typical make you rich in real estate pitch.  You go to a "free" seminar and they give you almost no usable info but tell you about how much money you can make and how so many other people made so much (like the real estate infomercials you see on late night tv).  Then they say you need to take a much longer course (2-5 days, or so) to get all the "secrets" on how to make the money (or possibly they try to sell you a book and cd's for $1000 or so), and the longer course will cost alot (like $5000 or more).  If you go to the longer course it will have alot of good info, but  probably nothing you couldn't have just gotten from a book on real estate investing (lol, and the book is cheaper).

Anyhow, this is what I suspect.  There are lots of these around and most of them do teach some good info but all at a cost 500 times more than just reading a few books on real estate investing.

Answer 4

You get rich real real slow in real estate.  I know. I've been investing for 25 years.  No one has a "plan" which means that RER doesn't either.

If you want to be a landlord, buy a house or two.  You will make a little money in the short run and a lot of money in the long run.  And no one will cheat you out of your money with a "riches" scheme.