Del Walmsley lifestyles unlimited
Homeowner · Glen Allen, VA · Member since 2014 · 33 posts · 9 votes
Has anyone on BP worked with or is familiar with this man and his seminars?
@Frank Yaccarino: My wife and I joined back in early 2018. Had a pretty good experience in their "Challenge" ($7K) program that deals only with single-family investing.
However, later that year, we upgraded (in theory, and in dues) to their "Preferred" (or "PIG") membership, so that we could invest (passively) in multifamily deals. It was an extra $13K (up front), and $3K/year renewals afterwards.
Having experienced what we and 500 other investors have experienced over the past several months -- i.e., being taken to the proverbial cleaners by a syndicator who was once a LU member but decided to quit and go bat-**** crazy -- I'd never join again if I had the knowledge I do now that their sacred "white paper" (rules for syndicators/GPs/"leads") has absolutely no teeth, and that they do not stand behind the passive (limited partner) investors once something goes awry.
Oh, and the rogue syndicator who took advantage of us all was a darling of theirs (LU's) only a year before he "broke bad", and had subscribers from some of the long-time, experienced passive investors in the group, including a mentor or two and the executive vice president, herself! (The man later bought her shares back, once he quit the program. Still has the rest of ours, though!)
Your call, of course. Also, there are plenty here and elsewhere who will brag on their program unabashedly -- those to whom a $20K+renewals membership is a drop in the bucket and/or those who have yet to invest with a syndicator-gone-wrong. Since the LU spokespeople, though, brag about how the organization looks out for the passive investors, though, you'd think they'd be more dedicated to ensuring that we're not exposed to this type of corruption.
I'd never join again, knowing what I do today. Just my 2¢.
Very. I've been a member for over 11 years.
Following Lifestyles practices we improved our single family investing, started investing passively in multifamily, and now are syndicators of three apartments. At this moment, we are now invested in 26 apartments across the US, replaced two six-figure incomes, and have retired from corporate America much earlier than we thought we could ever do.
Lifestyles Unlimited has been around for 32 years and has over 50K members. I know of no other real estate training organization has a track record like that.
Thank you I’m very interested in real estate and have been for years. My wife and I had a loss during 08 meltdown, so she now against investing. I on the other hand am in my 60’s and tiered of working for the man. I’m ready to jump in with both feet into real estate investing. Thank you again for your information!
@Frank Yaccarino: My wife and I joined back in early 2018. Had a pretty good experience in their "Challenge" ($7K) program that deals only with single-family investing.
However, later that year, we upgraded (in theory, and in dues) to their "Preferred" (or "PIG") membership, so that we could invest (passively) in multifamily deals. It was an extra $13K (up front), and $3K/year renewals afterwards.
Having experienced what we and 500 other investors have experienced over the past several months -- i.e., being taken to the proverbial cleaners by a syndicator who was once a LU member but decided to quit and go bat-**** crazy -- I'd never join again if I had the knowledge I do now that their sacred "white paper" (rules for syndicators/GPs/"leads") has absolutely no teeth, and that they do not stand behind the passive (limited partner) investors once something goes awry.
Oh, and the rogue syndicator who took advantage of us all was a darling of theirs (LU's) only a year before he "broke bad", and had subscribers from some of the long-time, experienced passive investors in the group, including a mentor or two and the executive vice president, herself! (The man later bought her shares back, once he quit the program. Still has the rest of ours, though!)
Your call, of course. Also, there are plenty here and elsewhere who will brag on their program unabashedly -- those to whom a $20K+renewals membership is a drop in the bucket and/or those who have yet to invest with a syndicator-gone-wrong. Since the LU spokespeople, though, brag about how the organization looks out for the passive investors, though, you'd think they'd be more dedicated to ensuring that we're not exposed to this type of corruption.
I'd never join again, knowing what I do today. Just my 2¢.
@Shawn Stone I am sorry to hear about your experience! Hi @Frank Yaccarino finding a community of investors is a great place to start. I recommend Jim Pfeifer's Left Field Investors. You may also want to check out Ian Ippolito's The Real Estate Crowdfunding Review Private Investor Club built in. You may also want to check out The 506 Investor Group. These communities will allow you to connect to other people and you might also hear other feedback about Lifestyles Unlimited if you are still interested in pursuing that path. Good luck!
Hello, all. I would like to retract the reply I made a couple of weeks ago, inasmuch as I evidently didn't have all the facts. I attempted to delete the post altogether, but BiggerPockets won't allow that after 15 minutes.
@Frank Yaccarino I've had a great experience with LU. I've met some great people who have become friends. I go every month to the meetings to stay motivated, continue to meet people and to learn. Thier vendors are a great resource, and many are happy to give you input when they know you are connected to LU. Just my opinion. Good luck and happy investing!
@Frank Yaccarino I've had a great experience with LU. I've met some great people who have become friends. I go every month to the meetings to stay motivated, continue to meet people and to learn. Thier vendors are a great resource, and many are happy to give you input when they know you are connected to LU. Just my opinion. Good luck and happy investing!
@Frank Yaccarino I've had a great experience with LU. I've met some great people who have become friends. I go every month to the meetings to stay motivated, continue to meet people and to learn. Thier vendors are a great resource, and many are happy to give you input when they know you are connected to LU. Just my opinion. Good luck and happy investing!
Thank you I’m very interested in real estate and have been for years. My wife and I had a loss during 08 meltdown, so she now against investing. I on the other hand am in my 60’s and tiered of working for the man. I’m ready to jump in with both feet into real estate investing. Thank you again for your information!
Thank you I’m very interested in real estate and have been for years. My wife and I had a loss during 08 meltdown, so she now against investing. I on the other hand am in my 60’s and tiered of working for the man. I’m ready to jump in with both feet into real estate investing. Thank you again for your information!
What do you mean by passive investing in multi family? I am interested in multi family. I’m listing to podcasts and I’m about to read Brandon Turner’s book on the subject. I have job with CVS which its future is in certain. I really appreciate all the information you’ve given me. If there’s anything else you can think of, please let me know. I really appreciate it. Thank you.
What do you mean by passive investing in multi family? I am interested in multi family. I’m listing to podcasts and I’m about to read Brandon Turner’s book on the subject. I have job with CVS which its future is in certain. I really appreciate all the information you’ve given me. If there’s anything else you can think of, please let me know. I really appreciate it. Thank you.
Did you join Lifestyles Unlimited? How is the real estate investing going? I am trying to get in investing so I can get out of teaching...
Jeff:
If you don't have a lot of savings, I wouldn't recommend going the passive investing route. I'd invest in single family. If you do it right, the returns are better and you have control, meaning you can refi, sell or hold in the time frame you choose. The main problem with single family is it's hard to quickly deploy large amounts of cash. With passive investing, it is easy to deploy 50, 100, or 250 thousand dollars or more in one chunk.
I'd encourage you to check out Lifestyles. The basic membership is an easy way to test drive the organization for not much cash. They are not a hard upsell organization, so don't worry about that. The Challenge membership might be ideal for you.
A friends parents paid into the 20K membership. Their latest property which the flat roof addition of the home has absolutely no pitch (shingled) which made me think of the R905.2.2 Slope section of the IRC. Of course its leaking already within the year of it being done. The roofer that did the job is part of the program (no surprise). Coincidentally, my co worker was conversing with me about real estate and mentioned he was also in Lifestyles but got kicked out because of a vendor issue that ended up in court. He did recoupe what he invested luckily but I suddenly realized their system relies on the buy ins of both parties which means if you have to deal with shady contractors, thats just how its going to be. Defending your personal investment is frowned upon appparently. Unfortunely, it seems you cannot be any sort of deterrent from others investing into the program, even if means losses to accommate unlicensed jobs.
Jeff:
If you don't have a lot of savings, I wouldn't recommend going the passive investing route. I'd invest in single family. If you do it right, the returns are better and you have control, meaning you can refi, sell or hold in the time frame you choose. The main problem with single family is it's hard to quickly deploy large amounts of cash. With passive investing, it is easy to deploy 50, 100, or 250 thousand dollars or more in one chunk.
I'd encourage you to check out Lifestyles. The basic membership is an easy way to test drive the organization for not much cash. They are not a hard upsell organization, so don't worry about that. The Challenge membership might be ideal for you.
Thanks.. I need to go to one of their meeting to see how it works. I am really motivated now for one as a teacher its getting worse every year and I spent 3 days in hospital and 6 weeks out of school because I was breaking a high school fight. Second I want to setup my daughter who has Autism so she can have some nest egg when I am gone. There are other reasons but those 2 are the main ones. I am ready for a different adventure.
@Jeff Krus hopefully you ended up looking into jointing some type of mentorship or got into investing. If you need any advise or input don't hesitate to reach out. I saw your comment as a Teacher and I have a great deal of respect for your profession. :)
@Jeff Krus hopefully you ended up looking into jointing some type of mentorship or got into investing. If you need any advise or input don't hesitate to reach out. I saw your comment as a Teacher and I have a great deal of respect for your profession. :)
I am ready to leave teaching. I just don't know were to start and funds are low. I have about 170,000 in quality in my house and thought of using that but then.people say no don't do that get a loan and others say use you equity so not sure who to believe. Some say you need at leat 50,000 to start others say only a few. I would like to get in to apartments or RV as a passive investment then learn from that and maybe lead... How about home rentals? Did or are you invested in those? Have you heard of lifestyles unlimited? If so feelings on them? Or any recommendations on livesting groups?
Jeff:
If you don't have a lot of savings, I wouldn't recommend going the passive investing route. I'd invest in single family. If you do it right, the returns are better and you have control, meaning you can refi, sell or hold in the time frame you choose. The main problem with single family is it's hard to quickly deploy large amounts of cash. With passive investing, it is easy to deploy 50, 100, or 250 thousand dollars or more in one chunk.
I'd encourage you to check out Lifestyles. The basic membership is an easy way to test drive the organization for not much cash. They are not a hard upsell organization, so don't worry about that. The Challenge membership might be ideal for you.
Thanks!!!
@Jeff Krus hopefully you ended up looking into jointing some type of mentorship or got into investing. If you need any advise or input don't hesitate to reach out. I saw your comment as a Teacher and I have a great deal of respect for your profession. :)
Are there any other groups you might suggest for first time real estate investors? I an a teacher and as you know I want to get you of teaching (14 year). Don't have a lot of money as teachers pay is not good... Any suggestions?
How are your investments going?
Check out this interview with Nick, a public school teacher. He lives near me, I know him personally, and visited one of his SF properties. He did a great job on that property and is changing his life.
https://lifestylesunlimited.com/from-classroom-to-cash-flow-...
Check out this interview with Nick, a public school teacher. He lives near me, I know him personally, and visited one of his SF properties. He did a great job on that property and is changing his life.
https://lifestylesunlimited.com/from-classroom-to-cash-flow-...
Second I want to setup my daughter who has Autism so she can have some nest egg when I am gone,
I have a son who was injured at birth. He is blind and has the cognitive ability of about 2 years, but today is 27 years old. I understand what you are going through.
I still endorse Lifestyles Unlimited and make nothing if you sign up and would have no way of knowing if you did. I recommend you sign up for their basic membership. Its a great way to test drive the organization for a year on the cheap. (Call and say you want to attend the FFP event; its cheaper than signing up online. Should be about $300.)
DM me with any questions.