I was not even sure if I was going to find someone to go with, but I texted Mike Rasely if he wanted to get a free dinner and he said sure. The seminar was at 6pm, so we made our way over. On the way over we were talking about just forgetting it and going elsewhere for dinner. It was at the Hampton Inn in Easton. I saw a woman in a black dress get out and the dress was way too short, revealing her sloppy legs. She was in front of us as part of the convention as well. Everyone was dressed in their business best. We had to fill out some information, and tell them our names for a nametag. Mike told them his name was "Pete", I do not think he even gave his real information. I saw that they were asking our annual income. This reminded me of the trips I used to try to sell to people, for filling out a card at the fair for a free trip. The reason why we asked about annual income is to see if they would be able to afford the timeshare. (This was when I worked at that travel time share place. Sure, they got a free, or rather, 'complimentary' OH I JUST GOOGLED FREE MASSANUTTEN TRIP! i love reading complaints about SCAMS!!!!) HA!!! so anyways, as i was saying about this one...it seemed everyone was full aware of the fact this was about flipping houses. we were lead to our seats, mike and i were up front. then a little presentation from scott and amie of flipping vegas show...
At first I was zoning out, but then as I started to listen, I starting thinking to myself, I can do this! Basically, what happens is they will GIVE us the money for houses. Then we sell them to buyers. We keep a profit. They take 1 pt, or 1 percent. So, how can they afford to do this!???!
DING DING DING!!! i mean, oHHHH!! here is how!!!
ITS A SCAM!!! a scam!!! well, first of all, i was thinking to myself, i can sell houses at wholesale! and then they said we buy the houses with their help...and sell them at low prices as well. we would make at least 30,000.00 per house..of course it is not guaranteed. funny they should use this word because that is what THEY ARE HOPING THEY MAKE! FROM EACH PERSON THEY SELL THIS BOGUS SEMINAR FROM!!!
you know, we are supposed to be finding buyers, for these houses...well, ironically ,THEY ARE FINDING BUYERS, but the buyers are us!
i am getting too lazy to try to type well, i want to read more reviews!!! bad reviews!
oh and also, we never got a free dinner. or an mp3 player. I do recollect him mentioning a dinner, nothing like lobsters and whatever else he said...(made me think, well one day i can afford fancy dinners when i start selling houses!)
i feel like i went off track...but he also showed us few certificates that a select will get, if they sign up now for the fee of 1997. that is 1,997.00. Um, no!??!
Things I did notice, during the seminar, he said sternly, 'we do not want anyone wasting our time. we do not like that' a hint of things to come later (at the seminar that people pay 2grand for!! or worse, 30 grand!)
read the reviews!
here are a few i will cut and paste:
btw all i wanted to know about is, did anyone really get the mp3 player, the cd roms that tell us how to make money, or a free dinner?
we had a break before they wanted us to come back to our seats, and he said they were going to have the dinner for us. dinner!??! salads and sandwiches are items they sell at an overpriced store in the airport, it is not a dinner!! i remember some people asking about the mp3 players and they said when it is over. mike and i stayed for the 90 minutes. mike wanted to leave during the 10 minute break. I wanted to stay to get the sandwich and mp3 player. I was also going to tell them I cannot pay for it now. I was even thinking about getting my reservation to pay for it, (because they will give me 3k for school, which I have been searching around for..what do i want to go back to school for tho? it needs to lead to a rewarding career)...
but we left...i was upset at first at mike, but now i decided to look at reviews and i am so glad i did! during the presentation, i started to feel hopeful, as if I found something I could actually try to do and become successful at it! I was thinking, I can resell 5 houses a year at 30,000 a house, and I will be set!
Now reality set, and I find it highly amusing at how these places can legitably swindle people out of 40k or more!!!
oh yes, also, if they do a little backup they will see not everyone will be able to afford it. if they do background checks ,they will see. i bet if i had the 2k for the next step, they will let me continue, even tho they know i will not be able to afford the next level of 'expertise'. i kind of want to go back just to IN YOUR FACE them!
oh i also remember one of the testimonial guys slipped up. he said he did the program and sold a house after 63 days. he said he met scott and amie in 'las vegas'. then the speaker later said, 'where is this seminar? then he said 'las vegas!" then quickly said, 'just kidding. its king of prussia' oh the first seminar is not in vegas, but the next one will be! the 30,o00. oo one!!
here are a few reviews: btw if interested just google. google anything that seems to good to be true!
About Scott Yancey
Based out of Las Vegas, NV, Scott Yancey is a self-made millionaire through investing in residential and commercial real estate, as well as a published author, and an executive producer of A&E’s television show “Flipping Vegas.” Mr. Yancey claims to have made his first real estate deal and the age of 14, and with a personal belief that “your money works for you,” is passionate about helping others achieve this same success through his live real estate seminars.
Scott Yancey’s infomercials have been featured on networks such as NBC, CNN, and ABC, as well as publications such as the Wall Street Journal. While there are some positive online reviews, the vast majority are negative, with the most frequent complaint citing high-pressure, deceitful sales tactics.
How Scott Yancey Seminars Work
In addition to his infomercials and television shows, Scott Yancey’s claim to fame is his live real estate investing seminars, which claim to show you proven investment strategies that you can use to realize your own success. More specifically, Mr. Yancey’s seminars claim to provide core information in areas such as:
- Residential Real Estate
- Commercial Real
- Estate Tax Liens & Tax Deeds
- Multiple Income Streams
However, it needs to be noted that there are two types of Yancey events: Free and Paid. Free events are constantly being hosted in cities all across the country, and claim to provide basic information on how to:
- Get your real estate investment career off the ground
- Choose the best areas to invest in
- Ensure your investments always remain profitable
- Generate passive monthly income, or “big monthly paydays”
According to a wide variety of online reviews, these free events contain very high-level information, very little of which can be applied toward earning money in real estate. Instead, this information basically acts as a “teaser,” and you’ll be urged to purchase access to a paid event, which then promises to provide actionable information. Scott Yancey hosts several of these paid events, the most popular of which appears to the his 3-Day Workshop, though many more are provided, including:
- Boots on the Ground
- The Buying Summit
- Inner Circle
- On-Demand Training, which includes:
- Seller Financing Boot Camp
- Residential Rentals Boot Camp
- Quick Cash Boot Camp
- Cash Flow Boot Camp
- PropTrend Real Estate Software
Scott Yancey Seminar Pricing & Refund Policy
Scott Yancey “Preview Events” are completely free of charge, and often include bonuses such as his “Go Time” book (in PDF format), free cameras, and a chance to win one of 15 iPads. However, it seems the primary intent of the Preview Events are to hard-sell you into purchasing a $2,000 ticket to his 3-Day Workshop. However, we learned that even this preliminary paid event features more hard-selling for additional training/events that range in price from $20K-$60K or more.
According to the Yancey Events website, a 100% tuition refund is available to seminar certificate holders who “close a new positive cash flow real estate transaction and submit the supporting documentation to us” within 100 days of the seminar date. The process is fairly technical, so if you find yourself in this position. Oddly enough, if the information provided in your seminar fails to help you purchase real estate, it does not appear any sort of refunds are offered.
Are Scott Yancey Seminars Worth the Money?
As mentioned previously, online reviews of Scott Yancey Seminars are overwhelmingly negative, and primarily cite high-pressure, deceitful sales tactics. During our research, we even came across several instances where it appears employees of Scott Yancey posted false positive reviews intended to counteract hundreds of negative ones.
Furthermore, if you base your decision to attend a seminar on the “Success Disclosure” page on the YanceyEvents.com website, a pie graph shows that 60% of students who attend a seminar have reached success. However, a closer look at the fine print does not indicate whether or not these individuals made any money on their transaction(s), or the length of the time period that was included in their sample pool. Additionally, only those who “purchased advanced training—above and beyond the 3-day Workshop” were included in the sample group of 1,966 individuals. Finally, even when taking a look a the Testimonials page, all the success stories are provided by students and teachers who “purchased additional training materials.”
In short, this means that it’s fairly apparent you shouldn’t expect to start closing deals and earning money from real estate from the Preview Event, or even the $2,000 3-Day Workshop. While no prices are listed for the supplementary training materials and events on the company’s website, our research uncovered prices ranging anywhere from $20K-$60K.
Bottom Line: Should you spend your hard-earned money on a Scott Yancey Seminar?
Based on our research, much of the information found in the seminars can be found elsewhere for free (or for minimal prices, such as the cost of a book), which can be read and applied at your own pace. Overall, with the huge number of negative reviews readers have left here, most of which tell nearly identical stories, we would recommend spending your hard-earned money on real estate training through more traditional methods.
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Another rip off
I attended the free seminar where we were told of services that we would have access to if we went to the 3 day "retreat" for $1997.00. I fully expected that we would be asked a fee for additional "training" and that a "guru" that knew what he was doing would be able to help me so I went ahead and paid the initial amount.You are paying $1997.00 to sit through a hard sell commercial for 3 days trying to sell you an additional $30,000 retreat in Vegas. However, after the initial 3 day "retreat", you were suppose to get access to the services. The way things were put to us at the free seminar was that these services would be ours to have at or after the $1997.00 retreat. You may learn a couple of things and get a couple of services but nothing worth a couple of grand and nothing that is going to help you in real estate. What this will teach you the most is that predators come after your money and sometimes even some "celebrities" using their name as a guru in a field of expertise will have no problem going after hard working peoples money.Day one of the "retreat" had Deano telling everyone needed to change their way of thinking from consumer to investor. This went on and on and was repeated some 14 times in a couple of hours. It got old fast. I was still waiting for something of substance to be told to us. Maybe an hour that day was spent doing that talking about flips. A couple of more hours go by and he is still rambling on about how thinking needs to change and how everyone here in the "class" was in the same boat basically as failures. It is said early on that the $30000 will be needed to be in the Diamond category. I still would not have issue for asking for more money for "extra" services but this was not in any way told to us at the free seminar. It is deceitful. Another red flag was that they didn't really want people in the class "networking" because no one in the room knew how to do deals. In fact I and several others there had done deals. Just not their way. The real reason that they don;t want the "class" talking with each other is they might start talking about how this is bogus. Another red flag is there was talk from Dean and Darrin of family and what they meant to them and missing their families while on the road. Really ? Then why aren't they working "the system" that they keep talking about is so great, instead of here trying to hard sell people ? They could be at home letting their "power team" work for them and enjoying time with their families and not out on the road away from their families. HmmThe "system" if true to what they say is a no way you can fail system. Basically they do it all for you from providing investors lists, properties already paid for and software to track everything and print reports to get investors etc...You literally could not fail if it is all true. But why the deceitful tactics if legit? Interestingly, a pie chart is presented about what I guess they consider success with 60% of all people who go to the $30000 event doing at least one deal. They don;t say what kind of deal nor whether they were profitable. This could even include a tax lien (which you can purchase very cheaply) Another 30% are working on getting a deal (whatever that means). The other 10% fell into categories of giving up or other things taking them away from this "system". Also, if they have the investor list for every county in the nation and properties to sell to the investors then why make this great system open to us? The company could handle it all easily.I feel bad for the ones that go forward because most their at this thing looked like they could use some real help financially and it was brought up many times that people should get every bit of money they have to go to this thing even if it meant selling the car and mortgaging the home maxing out all credit cards cash in IRA etc... I am sure that those who go to Vegas and be asked for some kind of being an insider fee or something.Bottom Line: No, I would not recommend this to a friend
- 5 out 5 people found this review helpful
Hidden Costs
I attended an introductory Scott Yancey seminar on July 25, 2015. The first speaker wasted no time in revealing the fact that everyone needed to sign up to attend the 3-day "retreat" for $1,997. He said everything couldn't be covered in one day, and you would get your money back after your first deal. I thought the sales pitch sounded reasonable, and that there was no way I could lose my investment.Here is my issue: Since the speaker was so "honest" and forthcoming about the sales pitch to hook you for the $1,997 seminar, why couldn't he have shared ALL of the costs up front? I almost signed up for the 3-day program, but my boyfriend asked me to wait. He told me that Scott Yancey's people would not turn down my money if I called them to pay for the "retreat" later. My boyfriend wanted me to go online and do some research first. I'm so glad I had him with me. After my research, I found out about some of the hidden costs they hit you with at the 3-day retreat.If the program is completely legitimate, why not inform the participants about ALL of the educational fees up front? I would have been so upset if I had spent almost $2,000 to learn real estate strategies at a three day event, only to be told at the $2,000 event that in order to really, really get the "real deal" information I would have to enroll in yet ANOTHER event for the low-low price of $30,000!Run! Save your time. Save your money.Bottom Line: No, I would not recommend this to a friend
