Fortune Builders - join or no?

26 Replies

Hello!

I attended a Than Merrill workshop this past weekend.  The attendees could apply for the Mastery program (I was unaware this was Fortune Builders prior to attending)  They offer "hand holding" in the Mastery program to ensure you will be successful.  I filled out an application and one of the staff interviewed me.  During the interview, I was asked to call my lines of credit and ask for an increase.  I found that a bit odd.  I finally asked how much the Mastery Program cost..... $20,000 to $50,000 dollars.  WOW.....!!!! 

Has anyone here attended this program?  It is very expensive and is it worth the cost?

Thank you.

Hi @Christy Holt

I've never been to such a seminar, but had a friend go last summer. He said it's somewhat beneficial if you're pretty green to REI, but it isn't worth what they charge. For that much money, you can use it as a down payment on an investment property.

I've never heard anyone say that they got 50k worth of education from a guru, but I'm naturally skeptical of paying for things that could be easily learned for free. I'd save that money and find an experienced partner and learn from them. Just my 2 cents.

Just search this site. This subject has been beat to death. But the general consensus is no. It's not worth it. Keep doing research and good job not being impulsive.

@Christy Holt . I've been full time real estate investor for almost 10 years and have been flipping houses from the very beginning. I've purchased different guru programs that have added knowledge to my businesses both with flips, SFRs, and commercial properties. I've used Bigger Pockets and other free sites to gain knowledge as well. I'm also in an area that doesn't have a REIA club or few full time investors to lean on.

I attended a Fortune Builders event in August 2017, thinking if I could do nothing else, I could give out some business cards to newbie investors for future wholesale leads / deals. I listened to the speakers, reviewed the material, and made the decision to join the Fortune Builders Mastery program.  It was difficult parting with $35,000, but so far I've not regretted this decision.

I joined Fortune Builders for the systems and processes, which come from CT Homes LLC which was featured on Flip My House. They also aspire to the E-Myth mentality. Their support group is great, there are unlimited calls with coaches who are active in real estate and following the Fortune Builders disciplines, there are tons of documents and continuing workshops throughout the year with tons of networking opportunities. There are constant calls from the main office to make sure you are engaged and helping to determine what help you may need.

I'm hiring a temporary person to come into our office to help implement the systems and document the processes for our company to follow. My businesses have lacked appropriate structure.  This has limited my profits and has left me involved in the details on almost every aspect of my businesses. I honestly believe that I can double to triple my profits next year if I can implement these systems in our business. Also, I plan to structure my business to run on autopilot once all of the systems and processes are implemented and the bugs are flushed out.

I would not recommend Fortune Builders or any other programs if you don't believe, embrace and implement the material. I just thought I would share my experience. I wish that I had joined years previously.  

There are a number of programs out there and they range from no cost to 6-figures (believe it or not). Here's my 2 cents. You can jump off the dock and try investing with money but no knowledge or experience, but that's a real good way to get hurt. You probably wouldn't do that with anything else.

We're in a new economy and many of the old rules no longer apply. College, for instance unless you're in a very specialized area. I'm involved in a company that I believe is the business/education model of the future. I call it specialized vocational education. It is laser-focused on real estate, has practitioner-instructors who actually do what they teach every day, has local support-system communities all over the country, has both local and online daily trainings and a software system that is second to none and includes such things as non-occupied owner properties, out-of-state owners, probate, private lenders and much more. 

I've found over my 45-year real estate career that most people can't overcome their fear in order to get started. A local support system makes all the difference for people like that. The choice often becomes invest in yourself to get started or just think about it and never take the plunge. If people are still ponying up big bucks for a college education today, this is a MUCH better alternative, IMO. The equivalent of a Master's degree in real estate for a fraction of the cost of a college degree. Makes sense to me. 

Time is money, figure out what your time is worth. There is a TON of info online (not all good, nor all bad) and if you have the time to research, learn, and ask you can figure out pretty much anything. Now, if you don't have the time and have spare money then maybe a course is the right answer for you.

If this was me, I'd give myself about 6 months of studying and then deploy that 50k. I'd rather have a lesson learned from my first deal and then use it going fwd....vs 50k for training.

@Christy Holt Than is a character, he is a good guy, I attended one of his first events many moons ago in Orlando with the guys who started Jacksonville Wealth Builders (JWB) and they now are very successful, following what Than taught. Than also has a great mentor in Robin Thompson, who has been doing this for a very long time. Solid marketing, good ideas. But as others have stated, you can find these elsewhere and learn on your own. Experience is the best teacher for sure. Good luck. 

Fortune Builders makes a lot of money, because they are great at marketing and sales in a field that has a lot of people thinking they will get rich quick, but have fear of failure. Fortune Builders likely provides a good service, with valuable tips, tricks and training, but is it worth $20-$50k? That is up to you to decide. If spending that money will get you to start investing then it may be well worth it. If you will pull the trigger without them, then it is maybe not worth it. Training is only as good as the person that is doing the learning. If you don't take action then no amount of money is worth it. 

I haven't spent any money on training other than books, but I know others that have spent a fortune. Some are doing very well and others are still flailing around.

Well said, Saj Shah. "Call your lines of credit and ask for an increase". Red flag one. "The cost is 20K~50K". Red flag number two.  Education on BiggerPockets? Priceless... 

Originally posted by @Christy Holt :

Hello!

I attended a Than Merrill workshop this past weekend.  The attendees could apply for the Mastery program (I was unaware this was Fortune Builders prior to attending)  They offer "hand holding" in the Mastery program to ensure you will be successful.  I filled out an application and one of the staff interviewed me.  During the interview, I was asked to call my lines of credit and ask for an increase.  I found that a bit odd.  I finally asked how much the Mastery Program cost..... $20,000 to $50,000 dollars.  WOW.....!!!! 

Has anyone here attended this program?  It is very expensive and is it worth the cost?

Thank you.

No, no, and NO!

Why can't I agree with some in this thread that think spending $25K or more on Fortune Builders could be okay if it is right for you, that, maybe you don't need them but will help if you want a jump start?

Because what they do is unconscionable.  They "interviewed" you?  Did they care about anything besides your having money?  Do you think they ever reject anyone with cash in hand?  Do they publish statistics of how many people actually succeed and how many fail?

They'll hide behind, "We tell you up front that you've got to put in the work."  But the fact is the vast majority will fail.  They just do.  For whatever reason.  Maybe the have no work ethic.  Maybe they run out of emotional steam.  Maybe they're too scared?  Maybe they can't bring themselves to talk confidently with a seller.  Maybe they are no assertive enough.  Maybe they have no money left after paying FB $50K.  Maybe they find it just isn't happening for them.  Whatever the reason, the vast majority do fail.  And they are fine with people taking on a crushing credit card debt that may haunt them for years, knowing statistically, they are likely to fail.

Could you do that to someone?

It takes some smarts, math skills, being a self-starter, creativity, being a little assertive, being willing to talk with people, and perseverance to succeed in this business.  And that's just the personal qualities.  

Plunking down $25K, whether in mentoring or an investment, has to be done with cold hard calculation, not emotion.  But they sell you hype.

And you simply shouldn't work with people of this character.

I met some investors at a local REI meetup and they were Mastery Program Students. Of the few I spoke with, they all seemed to have properties ongoing and had done flips. I did not ask any questions on what the program offered, but they all seemed to like what it gave them. Not sure how successful they were or what the program cost them however.

Originally posted by @Brian Pulaski :

I met some investors at a local REI meetup and they were Mastery Program Students. Of the few I spoke with, they all seemed to have properties ongoing and had done flips. I did not ask any questions on what the program offered, but they all seemed to like what it gave them. Not sure how successful they were or what the program cost them however.

And how many were not at the local REI meetup? I've spoken with a Mastery student, too. They seemed to like it, too, though I don't think it helped them much. And the $25K wasn't a huge amount from them.

I have been a fortune builders student.DON’T DO IT! They are some of the best sales people I have ever seen, but you will find that you can gain 20x more experience just by linking up and making friends with investors in your area. Some of them will become life long friends and mentors.

Free eBook from BiggerPockets!

Ultimate Beginner's Guide Book Cover

Join BiggerPockets and get The Ultimate Beginner's Guide to Real Estate Investing for FREE - read by more than 100,000 people - AND get exclusive real estate investing tips, tricks and techniques delivered straight to your inbox twice weekly!

  • Actionable advice for getting started,
  • Discover the 10 Most Lucrative Real Estate Niches,
  • Learn how to get started with or without money,
  • Explore Real-Life Strategies for Building Wealth,
  • And a LOT more.

Lock We hate spam just as much as you

Create Lasting Wealth Through Real Estate

Join the millions of people achieving financial freedom through the power of real estate investing

Start here