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The most useful person at the free workshop was stacking chairs afterward

My neighbor got a postcard and didn't want to go alone, so I went. Free workshop, Saturday morning, an airport hotel ballroom off the second parking lot. Maybe ninety people, mostly over fifty, a lot of couples.

The first ninety minutes were fine. Genuinely fine. A woman walked through how a rehab budget goes wrong, and her numbers weren't crazy, and she made a point about holding costs that I'd never had put to me that plainly. I took two pages of notes and I still have them.

Then there was a break, and after the break it was a different presentation with the same person delivering it. Testimonial video, a chart with an arrow, and then the packets came out. Three thousand nine hundred for the weekend intensive, and a sheet where you were supposed to write down your available credit across your cards, framed as an exercise in knowing your own capital position. My neighbor filled his in. I didn't fill mine in. Nobody made me, and nobody said a word about it, but a guy in a polo came and stood near my row for a while.

What I actually think about is after. My neighbor went to sign up at the back table and I waited, and there was an older man breaking down the chair rows. I said something about the crowd and he said he'd worked this ballroom for a long time, and that he'd sat through the same pitch in 2009 when he was still thinking about buying a duplex. I asked if he ever bought it. He said no. He said the first hour was real, every time, and that's what makes it work.

My neighbor paid. He went to the weekend. He hasn't bought anything either. The two pages of notes on holding costs are still the best thing I got out of any real estate anything, and they were free, and I'd feel better about that if I hadn't watched thirty people write their credit limits on a piece of paper.

11 replies

The available credit sheet is the whole business model on one page. It isn't a capital position exercise, it's a qualification screen, and everyone who fills it in has told the guy in the polo exactly which row to walk down.

The licensing course I'm in right now is dry as sand and nobody has ever shown me an arrow on a chart. I was resentful about that until I read this.

Ninety minutes of real content buying three hours of your Saturday is honestly a fair trade. It's the part where they get you to write a number down that I'd have walked out on. Did your neighbor say the weekend was any good?

I've managed for owners who came out of those weekends. You can tell within one phone call, because they use words like exit and velocity about a single duplex and they've never had a water heater fail on a Sunday.

Nine units in and I'd say every unit taught me something a ballroom couldn't. But I also didn't have to sit through a testimonial video to learn it, I just had to lose money slower.

The guy in the polo standing near your row without saying anything is good sales training and bad manners at once. We do a version of that in our business and I'm not proud of it.

What I'd want is the completion rate. Ninety in the room, some number sign, some smaller number attend, some much smaller number close a deal. Nobody publishes it and I don't think it's an accident. If a program showed me that table I'd take it seriously on that basis alone.

A service business is what I'm building, and I've been sketching out a small paid workshop for owners. This thread has made me decide there will be no back table. I'd rather charge for the first hour than give it away and sell the second.