Barbara Corcoran Event

Welcome in Everyone!

Yesterday October 2nd 2019 Josh and I went to this free event. It was a talk with Barbara Corcoran, who I'm sure everyone knows she's famous for being on Shark Tank. She was talking about how to get rich, financials and real estate. It was a free event and it was only 20 minutes away from our apartment, so we we're thinking what the heck, let's give it a go! Keep in mind Josh and I already set the bar low for this event, because at this point in our life we feel like we got our financials pretty much down. We follow Dave Ramsey so closely that at least in this point in our life we don't see our selves changing it up any time soon. Like Dave Ramsey's plan has worked for us this far... why change what's already working.

We get there after parking was a nightmare the directions for parking weren't clear at all. But you know no big deal we got there on time. Right off the bat the BIGGEST SELLING point of this whole event is talking about how Barbara is on Shark Tank. It was driving me up the fu***** wall with how much they kept talking about Shark Tank. Like we get it she's on Shark Tank and guess what... that's all she's famous for honestly. And if you never looked up Barbara Corcoran before, she's the shark in the show that makes the least amount of money compared to the other sharks. She's only famous for her real estate company which she's not even really apart of anymore and then... shocker... Shark Tank. 

The first speaker comes out who we both have never heard of. Josh Altman he's on the show Million Dollar Listing on Bravo. The host before him was really talking him up saying how he's going to give us all these tips on becoming a millionaire, how to sell houses and how to flip houses the whole thing. They show us the preview of him like clips of him on the tv show. And basically it's him drinking and throwing money around. So like a reality tv star basically, is what I'm thinking. Josh Altman comes out and told us his story like how he started out flipping houses, when the housing market crashed and he lost all his money and then worked up back the ladder, all the way up until he got the job on Bravo. He was talking for an hour and gave us 0 information on tips and tricks and financials. He just told us his story and walked off stage. He really is just a reality tv star, we didn't learn anything from him.

The next speaker comes out I don't even remember his name honestly. Josh and I are still being opened minded we're thinking, "okay maybe this guy will be better and will say something that's actually helpful that we don't know." He comes out and within the first 10 minutes he tells the audience to write this really important information down, "Flip Fast." And immediately I start thinking, "okay this guy is talking about flipping houses fast to get rich fast." Which spoiler alert THAT'S NOT HOW LIFE WORKS! There's no secret to getting rich fast or making money fast hack at life. If that was the case everyone would being doing it. The key to making money and getting rich is hard work, patience and being smart financially. AGAIN I've talked about this before God has a plan for everyone you just have to be patient. Flipping houses is one of the most riskiest businesses to be in first off. Think about it you take a loan out to buy a crappy house then flip it. You're gambling that that house that you flipped will sell more than what you bought for it and that you get your money back for it. And if it doesn't sell or sell in reasonable amount of time you're stuck with a HUGE loan to pay off, in debt and you might not make your money back on it you might lose money on it. As this guy is talking about "flipping fast" technique, Josh writes on a piece of paper that this idea that he is talking about is EXACTLY how Dave Ramsey lost all his money. He's literally teaching the one thing that Dave Ramsey does not recommend. 

Another thing he talked about that ruined it for us, it just seemed kind of slimy? So Josh and I are in the middle of house hunting and we've talked to 4-5 realtors asking tons of questions for each of them, learning the business and everything. Every single realtor we've talked to has recommended don't buy a house that is a for sale by owner (FSBO). And there's a number of reasons that basically boil down to; you don't know what state of the house that it's in. There could be damage to it that you don't know. The person selling it could be selling it way more than it's worth and the person selling it doesn't know the process of selling and buying a house. So just legal, dealing with banks, and paperwork could be missed if that makes sense. Just on both ends the person selling and buying could get screwed over and you don't want that to happen, is how I understood it at least. Maybe I'm wrong but that's how I understood it. 

Well this guy at the Barbara Corcoran event was telling people to take advantage of the people that are selling their house on their own (FSBO). He was selling us their program saying how they have a whole team that looks for people selling it as a FSBO. They just scroll through their computer program and buy up houses that are under valued because the owner doesn't know how much their house is worth. So basically they take advantage of people that don't know what they're doing on their own selling a house?

I can see it both ways like if you're selling your house on your own, I get it it's your house you should have done the research before putting in on the market. BUT maybe that person can't afford to sell their house another way, they have to sell iton their own? It just seems slimy I guess. Taking advantage of the FSBO people. Plus like I said earlier what if that person is over pricing their house and the person buying it is getting ripped off? It's really not good for both the seller and buyer? Maybe I'm wrong but I don't know this speaker shouldn't be going around speaking that, it just seems wrong to me I guess?

We got up and left the event early, we left halfway through ---(name)---- talk. We couldn't take it anymore we weren't learning anything, what he was saying was everything that Dave Ramsey says not to do. We didn't even see Barbara the main speaker haha! But yeah pretty much what I learned is Barbara got rich through selling programs that really aren't good at all and SHOCKER Shark Tank. So if you see her event in your area just skip it, figure it out on your own, talk to Josh and I or listen to Dave Ramsey. Everything that these people were talking about, Josh and I had a reason they were wrong on so many levels, we could argue why they were wrong all day.

Till next blog!

Brittany

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