Has anyone done or heard about Glenn and Amber Schworm's mentorship program?
Member since 2023 · 5 posts · 3 votes
Has anyone done or heard about Glenn and Amber Schworm's mentorship program?
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Real Estate Broker · Cody, WY · Member since 2010 · 28k+ posts · 41k+ votes
3yQuote from @Lisa Broderick:
Crazy that anyone would think that's a good investment.
I learned what I needed to know by reading a few books and asking questions online. Spent less than $100.
I recommend joining a local investor group and networking. Find someone willing to partner with you on a flip. Use your $40,000 to buy your way in, learn from some grey-haired guy or gal while on the job, and make a profit.
The DIY Landlord Book4.7247 Reviews
37 Replies
- Real Estate Broker · Cody, WY · Member since 2010 · 28k+ posts · 41k+ votes3y
Quote from @Lisa Broderick:
Crazy that anyone would think that's a good investment.
I learned what I needed to know by reading a few books and asking questions online. Spent less than $100.
I recommend joining a local investor group and networking. Find someone willing to partner with you on a flip. Use your $40,000 to buy your way in, learn from some grey-haired guy or gal while on the job, and make a profit.
The DIY Landlord Book4.7247 Reviews - 3yJay HinrichsBusiness MemberReal Estate Consultant · Summerlin, NV · Member since 2014 · 45k+ posts · 66k+ votes
end of the day its all on you.. 40k is not going to magically make this happen. here is the issue.
the guru has a bunch of students who pay the money .. there is a finite amount of rehab contractors and really good brokers or other finders of deals.. how are they going to service all of these students all at once .. answer is they wont or cant. Just take what they have taught you to date and put your own team together dont rely on these companies that say they will plug you into their network.. it does not work that way. there is only so many contractors and so many props and jobs to get done. you need full control of your OWN team.
- Real Estate Broker · Cody, WY · Member since 2010 · 28k+ posts · 41k+ votes3y
Quote from @Jay Hinrichs:
the guru has a bunch of students who pay the money ..
At that price, I suspect they don't get very many students at once.
The DIY Landlord Book4.7247 Reviews - 3yJay HinrichsBusiness MemberReal Estate Consultant · Summerlin, NV · Member since 2014 · 45k+ posts · 66k+ votes
Quote from @Nathan Gesner:
Quote from @Jay Hinrichs:
the guru has a bunch of students who pay the money ..
At that price, I suspect they don't get very many students at once.
well i dont personally know. but when i was doing loans for Armando Montalongo's students and Nick Vertucci students at the 40k event there would be at least 200 paid participants. and about 350 to 400 folks in the huge conference rooms and then about 10 break out rooms to discuss other real estate niches. I have not heard of these folks but you may very well be correct maybe there is only a handful at a time.
- Member since 2023 · 5 posts · 3 votes3y
Quote from @Nathan Gesner:
Quote from @Jay Hinrichs:
the guru has a bunch of students who pay the money ..
At that price, I suspect they don't get very many students at once.
No, there were about 100 people in the class and I think about 10% signed on for the two years. It's expensive but so are big mistakes. Having a coach can really help you avoid whopper rookie mistakes. I've paid for education and coaching for my current business with John Assaraf, and I learned how to invest in stock with Phil Town. They do kind of the same model. Both experiences were worth every dime and I made it back quickly. I guess I'm looking for mentoring from someone who's track record and reputation line up with my values and what I want to achieve. Do you have suggestions of how to vet people in my REI community?
- 3yJay HinrichsBusiness MemberReal Estate Consultant · Summerlin, NV · Member since 2014 · 45k+ posts · 66k+ votes
Quote from @Lisa Broderick:
Quote from @Nathan Gesner:
Quote from @Jay Hinrichs:
the guru has a bunch of students who pay the money ..
At that price, I suspect they don't get very many students at once.
No, there were about 100 people in the class and I think about 10% signed on for the two years. It's expensive but so are big mistakes. Having a coach can really help you avoid whopper rookie mistakes. I've paid for education and coaching for my current business with John Assaraf, and I learned how to invest in stock with Phil Town. They do kind of the same model. Both experiences were worth every dime and I made it back quickly. I guess I'm looking for mentoring from someone who's track record and reputation line up with my values and what I want to achieve. Do you have suggestions of how to vet people in my REI community?
u can follow folks on BP.. but it sounds like your mind is made up on this mentor.. flipping right now is a pretty tough gig for a beginner depending on market. very low inventory then sky high rates for your buyers. so use caution be careful also make sure you have a GREAT RE Broker who knows the values and what you should and shouldn't do in the rehab to maximize your returns. these things are very market specific U simply need to make sure your matching what is expected in the market you choose..
- Real Estate Broker · Cody, WY · Member since 2010 · 28k+ posts · 41k+ votes3y
Quote from @Lisa Broderick:
If you were an expert in a particular field, what would motivate you to mentor a stranger? Money. That's it. There's no way you are going to spend decades becoming an expert in your field and then spend countless hours sharing that information with a complete stranger. David Greene talks about this quite often on the podcast.
If you want a mentor, you should develop relationships with locals and prove yourself to them. Show them your desire to learn, your hustle, your hard work.
The only other way they will mentor you is for $40,000. I agree a coach can accelerate your learning, but you have to be very careful in who you choose to give your money to.The DIY Landlord Book4.7247 Reviews - Member since 2019 · 7k+ posts · 4k+ votes3y
Quote from @Lisa Broderick:
I just sat through the three day flipping workshop and it was awesome! I learned a ton and I really like them. That said, the price for the program is $40k for two years. They promise to walk you through two flips the first year, get into an LTR the second year, help set up all your systems, and give you access to their databases and network. I want to do it but want to make sure I'm getting what I'll pay for. Anyone?
with that kind of money I could make four bathroom LOL
- Member since 2019 · 7k+ posts · 4k+ votes3y
Find boyfriend that work as contractor, seriously LOL rather than pay 40k for the guru.
My very best friend now is my contractor. I treat him better than I treat my GF, that's the secret LOL.if you are nice to contractor that's all you need.
- 3yNicholas L.Pro MemberFlipper/Rehabber · Pittsburgh · Member since 2018 · 6k+ posts · 5k+ votes
what are you looking to accomplish - can you tell us more about your goals?
flipping is very tough right now - materials are expensive, good contractors are booked up, interest rates are high, buyers are picky. i don't know anything about the program you're asking about, so i'll reserve judgment on it, but that's the reality of the market.
a live in flip or house hack would be lower risk. but maybe you're already doing that.
- Member since 2023 · 5 posts · 3 votes3y
Quote from @Carlos Ptriawan:
Find boyfriend that work as contractor, seriously LOL rather than pay 40k for the guru.
My very best friend now is my contractor. I treat him better than I treat my GF, that's the secret LOL.if you are nice to contractor that's all you need.
Really don't appreciate the obnoxious misogyny and condescending comments. It's unhelpful and just rude.
- Member since 2019 · 7k+ posts · 4k+ votes3y
Quote from @Lisa Broderick:
Quote from @Carlos Ptriawan:
Find boyfriend that work as contractor, seriously LOL rather than pay 40k for the guru.
My very best friend now is my contractor. I treat him better than I treat my GF, that's the secret LOL.if you are nice to contractor that's all you need.
Really don't appreciate the obnoxious misogyny and condescending comments. It's unhelpful and just rude.
I am very serious. I make a contractor my best friend if you have zero knowledge before. This is the fastest way of getting everything done. You know things are really great between me and my contractor when I move everything from just a business relationship into a very personal relationship. For example, I am managing his investment right now all for free, I let him to borrow my car and store all his tools in my home, so our relationship is very close. In return, he gives me amazing price much below market and I can finance with him with 0 percent interest rate, for a year or so.
This is why I said business is great when we treat people right LOL
- Real Estate Broker · Minneapolis, MN · Member since 2011 · 5k+ posts · 6k+ votes3y
I hear something like this and I just think "Geeze, am I just missing the plot on this, I can get a bus, I can knowledge vomit, walk properties, intro" and hell, I wouldn't need $40k, I'd be happy at $1k.
Is there a dollar value to knowledge and access, sure is, but $40k.... that price tells me the focus is on selling $40k packages not on the doing.
Why could I feel "groovy" at $1k, because I am a "doer", I make $ on the doing. While I have no interest in spending my time on a bunch of "ask-holes", actionable persons, there is simply no reason for $40k.
But, again, maybe I am missing something here.
And 10 people hand me half a mil, sure I will let you come see the flips and STR you bought me, lol. Because that's exactly what's happening, hey you bought em for me least I could do is let you see em and the 411 on what I am enjoying with your $.
So yeah, please anyone feel free to buy me some properties and I will happily let you see what I am doing with them and will tell you all about every facet of it, sure thing.
- Member since 2019 · 7k+ posts · 4k+ votes3y
Quote from @James Hamling:
I hear something like this and I just think "Geeze, am I just missing the plot on this, I can get a bus, I can knowledge vomit, walk properties, intro" and hell, I wouldn't need $40k, I'd be happy at $1k.
Is there a dollar value to knowledge and access, sure is, but $40k.... that price tells me the focus is on selling $40k packages not on the doing.
Why could I feel "groovy" at $1k, because I am a "doer", I make $ on the doing. While I have no interest in spending my time on a bunch of "ask-holes", actionable persons, there is simply no reason for $40k.
But, again, maybe I am missing something here.
And 10 people hand me half a mil, sure I will let you come see the flips and STR you bought me, lol. Because that's exactly what's happening, hey you bought em for me least I could do is let you see em and the 411 on what I am enjoying with your $.
So yeah, please anyone feel free to buy me some properties and I will happily let you see what I am doing with them and will tell you all about every facet of it, sure thing.
Yeah, to the OP:There's one personal trait that could help really in many business and that's being RESOURCEFUL. when you are RESOURCEFUL you do not need any school or training becaue you would develop from your own business and life experience.
Individual that has RESOURCEFUL trait can do lot of things , while not knowing the answer and you dont have to know how to things but you know WHO can do things.a SCHOOL OR CLASS would not teach you that. That 40k class would not teach you to put nail to the drywall.
In my actual job i am so very busy writing code for DATA CENTER like Amazon or Google data center, so I do NOT have time nor knowledge to put a nail in the drywall, but i have TRUSTED friend that can put the nail in the drywall.
There are just so many RESOURCES here in BIGGERPOCKETS where one do not need to go to any school but can learn from them or they can redirect to the right people.
As for me , my life in real estate context has DRAMATICALLY IMPROVED when I CONVERTED my business relationship into much PERSONAL RELATIONSHIP to the contractor.
In flipping business, the contractor, the subcon , is like the Prophet, okay, they have to be listened and being served. Once we have good relationship everything is soooooo easy and I still can't put hammer okay. Everyone can do market analytics, even realtor, I may not really need them, but the contractor is the key in real estate flipping business.
- Investor · Fresno, CA · Member since 2016 · 222 posts · 237 votes3y
@Lisa Broderick Hi Lisa, I'm not going to tell you what to do. I have paid for various coaching programs. Some worked as advertised, and some do not. Ultimately, this is the issue right? If you knew 100% that paying $40k would get you to a 7-figure business in 2 years then it's a no brainer. But that certainty is not there. For that price point, I would want to hear from multiple (5-6) real students who took the program (with your same/current level of knowledge), executed well, and got your expected result.
Here a better (I think) idea and what I would do if I were in your shoes. Get your finances in order to minimize your expenses: pay off consumer debt, buy a house and house hack, sell expensive car and get a cheaper one. Just make sure you can live on <$40k/yr (should be pretty easy, even renting). Next, reach out to 1 big flipper in your market every day. Try to learn about them and their business and where you can add value. Tell them you want to do exactly what they're doing, and you're willing to work with them 100% for free for 6 months doing whatever they need so that you can learn the business yourself. They don't want to manage another rookie employee, so make sure that you have something to offer them (be a gopher comes to mind, or a transaction coordinator). Take the $40k, live off of that, work for free for 6 months, and then strike out on your own. You will get 1000% more experience this way, for the same money, and if you go above and beyond for that flipper, they may partner with you or even pay you for your work (principle of reciprocity).
- 3yAlecia LovelessPro MemberMember since 2019 · 3k+ posts · 2k+ votes
@Lisa Broderick That’s a lot of money. I paid $7000 for a “mentorship” program that was all over my phone about two years ago and it was a joke. I quit about 4 months into it after I realized I’d been scammed.
But seriously I’ve been building my relationship with my contractor for about 23 years. He started out doing some snow shoveling and plowing for me and then some mowing when I was out of town and now he is my right hand man.
I work 3rd shift and usually turn my phone off when I sleep during the day and this morning he FINALLY came to the realization that I want him to just make decisions about everything if I’m not available.
If I were you I’d spend more money on books and maybe $5-10,000 on education/mentoring and put the remaining $35-40,000 towards your first flip and in building a great relationship with a reliable contractor. It will go much further than someone walking you through two flips long distance and in buying a LTR when you can use the BP calculators for both of those.
For roughly $400 a year you can be a BP Pro member and it should be a tax write off as educational expense, but always ask your accountant, and use all the calculators infinite amounts of times.
- 3yJay HinrichsBusiness MemberReal Estate Consultant · Summerlin, NV · Member since 2014 · 45k+ posts · 66k+ votes
Quote from @Nathan Gesner:
Quote from @Jay Hinrichs:
the guru has a bunch of students who pay the money ..
At that price, I suspect they don't get very many students at once.
Nathan, I got to thinking about this.. I did do business with fellow in Charleston SC.. and he paid 100k for training.. when at lunch one day he stepped me through it, he did a deep dive.. this guy only took on 7 clients per year and it was a year long process.. and the clients had to spend a lot of time at his offices for hands on training.. And by the time he was ready he had the complete model for what the program was teaching and from what I could see it worked for him.. the 40k training stuff that is done through up sell IE come to free seminar then go to 3 day training for a few grand then come to 40k program those will have fall out rates in the 75 to 90% range for those that invest in those trainings from what I saw.. So if this 40k is a very small group and very hands on by the actual Guru who should know thier stuff it could be worth it.. Although to just do a few flips a year and how to buy a rental not sure thats a value proposition. My clients who paid the 100k had a fully blown business model and open the business after the program.. not just out on a island trying to do a few flips. - Investor · VA · Member since 2015 · 21k+ posts · 19k+ votes3y
out of curiosity, I wonder why people will pay $40k to do some training instead of reaching out to entities and asking to work for minimum wage so you could learn. I am curious how many people reached out to a local flipper and said "hey can i shadow you and check in on projects for you doing drive-bys and inspections or make calls to coordinate subcontractors"..
Just curious
7e investments53 Reviews - New to Real Estate · Member since 2023 · 28 posts · 14 votes3y
If I had $40k lying around to spend on a program, I'd rather put that toward my first deal. If I didn't have enough knowledge to buy my first deal, then I'd want to put it in a high interest savings account while I learned. Just me. I tend to want to tweak anything handed me to me anyway, so I plan on building from the ground up.
Only you know what you're willing to do/give up. Just count all your opportunity costs before spending the money.
- Member since 2020 · 6 posts · 0 votes2y
Quote from @Alecia Loveless:
@Lisa Broderick That’s a lot of money. I paid $7000 for a “mentorship” program that was all over my phone about two years ago and it was a joke. I quit about 4 months into it after I realized I’d been scammed.
But seriously I’ve been building my relationship with my contractor for about 23 years. He started out doing some snow shoveling and plowing for me and then some mowing when I was out of town and now he is my right hand man.
I work 3rd shift and usually turn my phone off when I sleep during the day and this morning he FINALLY came to the realization that I want him to just make decisions about everything if I’m not available.
If I were you I’d spend more money on books and maybe $5-10,000 on education/mentoring and put the remaining $35-40,000 towards your first flip and in building a great relationship with a reliable contractor. It will go much further than someone walking you through two flips long distance and in buying a LTR when you can use the BP calculators for both of those.
For roughly $400 a year you can be a BP Pro member and it should be a tax write off as educational expense, but always ask your accountant, and use all the calculators infinite amounts of times.
How did you know you were being scammed?
- Member since 2020 · 6 posts · 0 votes2y
Quote from @Jay Hinrichs:
Quote from @Nathan Gesner:
Quote from @Jay Hinrichs:
the guru has a bunch of students who pay the money ..
At that price, I suspect they don't get very many students at once.
Nathan, I got to thinking about this.. I did do business with fellow in Charleston SC.. and he paid 100k for training.. when at lunch one day he stepped me through it, he did a deep dive.. this guy only took on 7 clients per year and it was a year long process.. and the clients had to spend a lot of time at his offices for hands on training.. And by the time he was ready he had the complete model for what the program was teaching and from what I could see it worked for him.. the 40k training stuff that is done through up sell IE come to free seminar then go to 3 day training for a few grand then come to 40k program those will have fall out rates in the 75 to 90% range for those that invest in those trainings from what I saw.. So if this 40k is a very small group and very hands on by the actual Guru who should know thier stuff it could be worth it.. Although to just do a few flips a year and how to buy a rental not sure thats a value proposition. My clients who paid the 100k had a fully blown business model and open the business after the program.. not just out on a island trying to do a few flips.Yes, that is exactly what they are promising, very hands on, and helping you set up everything from soup to nuts. I have a reliable contractor who has done flips, I am also a licensed agent and know my market. Trying to weed people out at local REI meetings to be possible mentors is also gamble and a huge time suck. The folks I want to coach me have done over 1100 flips, have many long-term houses, also do wholesaling and short-term. They have been guests on BP podcast and have a proven track record of success. I like that they aren't 25 and have years of experience.
- Member since 2019 · 7k+ posts · 4k+ votes2y
Quote from @Chris Seveney:
out of curiosity, I wonder why people will pay $40k to do some training instead of reaching out to entities and asking to work for minimum wage so you could learn. I am curious how many people reached out to a local flipper and said "hey can i shadow you and check in on projects for you doing drive-bys and inspections or make calls to coordinate subcontractors"..
Just curious
maybe the student want to be a coach as well LOL
- Real Estate Broker · Minneapolis, MN · Member since 2011 · 5k+ posts · 6k+ votes2y
Quote from @Lisa Broderick:
Quote from @Jay Hinrichs:
Quote from @Nathan Gesner:
Quote from @Jay Hinrichs:
the guru has a bunch of students who pay the money ..
At that price, I suspect they don't get very many students at once.
Nathan, I got to thinking about this.. I did do business with fellow in Charleston SC.. and he paid 100k for training.. when at lunch one day he stepped me through it, he did a deep dive.. this guy only took on 7 clients per year and it was a year long process.. and the clients had to spend a lot of time at his offices for hands on training.. And by the time he was ready he had the complete model for what the program was teaching and from what I could see it worked for him.. the 40k training stuff that is done through up sell IE come to free seminar then go to 3 day training for a few grand then come to 40k program those will have fall out rates in the 75 to 90% range for those that invest in those trainings from what I saw.. So if this 40k is a very small group and very hands on by the actual Guru who should know thier stuff it could be worth it.. Although to just do a few flips a year and how to buy a rental not sure thats a value proposition. My clients who paid the 100k had a fully blown business model and open the business after the program.. not just out on a island trying to do a few flips.Yes, that is exactly what they are promising, very hands on, and helping you set up everything from soup to nuts. I have a reliable contractor who has done flips, I am also a licensed agent and know my market. Trying to weed people out at local REI meetings to be possible mentors is also gamble and a huge time suck. The folks I want to coach me have done over 1100 flips, have many long-term houses, also do wholesaling and short-term. They have been guests on BP podcast and have a proven track record of success. I like that they aren't 25 and have years of experience.
So Jay, what your saying is you want Jay H. to mentor you?
I am curious, if Jay H. were to say sure, he'd do that, but requires compensation worth his time of such, I am curious what would that be worth to you Lisa in $ to offer A "Jay Hinrichs" to personally mentor you. Keep in mind, there's an opportunity cost to Jay, time he can't do the other things he's doing, thus missing out on those rev potentials.
- Real Estate Broker · Minneapolis, MN · Member since 2011 · 5k+ posts · 6k+ votes2y
Quote from @Chris Seveney:
out of curiosity, I wonder why people will pay $40k to do some training instead of reaching out to entities and asking to work for minimum wage so you could learn. I am curious how many people reached out to a local flipper and said "hey can i shadow you and check in on projects for you doing drive-bys and inspections or make calls to coordinate subcontractors"..
Just curious
An externship?
If someone called me up and asked on such, my knee-jerk reaction would be to all but shrug them off. Due to assumption they will be more a draw and negative than a resource.
But if kept on me, contacted a second time saying really serious and pitched, it would make me think, and I'd blow em off again.
And a 3rd time, I'd take notice. And blow-em off again.
But 4th, 5th, 6th, 7th, if done right, showing me serious, dedicated, INVESTED, well I think that would turn the tides and at some point I'd gain enough belief and respect for the effort, I'd give em a crack.
Although in my experience, people are chasing rainbows and not willing to put in the work of it all.
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