Springfield, IL · Member since 2018 · 3 posts · 1 vote
Greetings all!! I'm in a place where I've learned so much and feel ready to take the 1st real step to REI. I have taken the Fortune Builders 3 day insider workshop and feel that the Mastery ( 12-24 month step by step mentoring and coaching program) might be a huge confidence booster and eliminate some of my fear. I do believe mentoring and coaching is important but I wonder if this program overpriced and necessary. Has anyone taken either? Would anyone recommend it or is it a huge waste of $$?
I took their 3 day course; and as a newbie I thought the 3 days was great information. I was expecting to get sold on whatever their expensive program was so I came prepared to resist their marketing tactics. They were quite skillful in trying to rope you into their expensive mastery program. Admittedly I was quite tempted. They even contacted me afterwords and offered me several "pay as you go" and cheaper options. But the more I talked to them the more I felt they were selling a glamourous idea and the information really is all out there for free on this forum and written in books.
I do know a fellow who took their course and had huge success with it, I also read about folks feeling rather ripped off by their course. Bottom line is its not a fast track to get started, you still have to put in all the work and you'll be 30k in the hole getting started. There is no magic bullet for this business, or any other for that matter.
After all the research I came to the conclusion, buy some books, listen to some podcasts, look for someone to partner up with who's been doing it awhile. You could even pay a couple hundred an hour as you go for a business coach and probably be better off. There are lots of better options. So far I'm dozens of podcasts and several books deep and feeling confident I'll get the ball rolling on my own.
Thank you all so much! For the past 2 yrs I've definitely been reading everything I could put my hands on! I follow many podcast too, I actually understood and followed most of the information. Figured the 3 day would/could give me an outline of sorts for some direction. Thanks so much!!
So essentially you're going to pay tens of thousands of dollars for someone to quell your fears about REI. If you're that fearful, I doubt any amount of money would be sufficient to thrust you into action. Sounds like what you need is more education, and you're already in the right place to learn all you need. The fear is coming from not knowing. Once you have a sufficient amount of knowledge, I guarantee your fears will lessen and you will be ready to invest. Don't waste your money on gurus. Devour the information in the forums, find local investors who can help you, listen to every single BP podcast, and then take your hard earned money and go buy a house! Good luck to you.
Look my awesome little mortal. There is ONLY one real confidence booster.
And I challenge anyone and everyone to the death on this one.
Working hard, sweating tears and blood, standing back up after you get bish-slapped to the ground, rising above it all trembling and bloody, .... depositing your first paycheck and hear that "chee cheeng"... How do you spell chee cheeng?! - in the back of your head. It is that feeling that makes you not give a stinky poop running butt naked with the check high in your hand screaming and running like a lunatic bishslapping police officer Mordecai in tha fayce running away with giggling buttcheeks and all!
THAT my silly little Carmen Marshall, IS what IS a confidence booster. NOTHING ELSE.
You know.. power to the gurus like Cody Sperber and Sean and... for doig an awesome job selling 400 dollar packages to get you started... great!
But spending money for mentorship is as Mr. @Caleb Heimsoth said so very wisely.. a complete waste of money.
See my sweet Carmen (I am being nice to you because I will assume you look like Carmen Diaz...but if you don't... I will be mad!)... these mentorship sellers.. it is THEIR job to convince you you need them. And they are good at it. You firmly believe this mentorship package will work, will give you confidence to be even more awesome then moi... but but butt... let's look at logic here oh Carmen of my dreams... ALl these experienced investors here advise against it... there must be something to it.
I am not saying it is not going to work... (Well I am not saying it but I am thinking it..).. but what I AM saying is that you do not need it.
If you NEED mentorship to be successful, you will NEVER outperform your competitor that made it there with his own filthy stinky sweat and blood yo!
Don't you do it... don't you dare doot tit! (I said "tit" again!!)
BTW
You know HOW you can tell a mentorship program is a sham? Just tell them you ARE interested and tell them, "Let me think about it"
if your phone blows up in the next month, them relentlessly trying to get you to buy it... obviously they are desperate and it is a poopsicle sham!
Let me throw my $.02 in here...the thing that rings true with Jerrll Noorden's post is if they blow your phone/email up, it's time to walk away. I am just starting to explore and I get no less than 150 emails a day. I just keep cataloging the repeats. I am staying true to the education aspect of this journey, mostly on BP and the books recommended here. AS was said previously, if it's to good to be true...…
Let me throw my $.02 in here...the thing that rings true with Jerrll Noorden's post is if they blow your phone/email up, it's time to walk away. I am just starting to explore and I get no less than 150 emails a day. I just keep cataloging the repeats. I am staying true to the education aspect of this journey, mostly on BP and the books recommended here. AS was said previously, if it's to good to be true...…
Are you saying that the blowing up the phone thing is the ONLY thing that rings true?
Here, I'll save you the money and the time probably wasted taking more courses:
There are always deals around and they all get bought, by someone... maybe you?
You will not get the best deal ever, because it's almost impossible to invest at the absolute bottom. That's not how investing works.
There will be bumps along the way, so plan for them and they won't be so surprising.
There are many investors using myriad strategies, you could spend you entire life learning REI, or painting, or you could just grab a brush and start. Steven Hawking was learning until the day he died, that didn't prevent him from writing books. Do you need to graduate from Secret Service driving school to go get groceries down the block? Look at everyone else making deals happen even though we accept we won't get to 18,000 rentals or wholesales.
Just go buy a duplex, move in and rent the other side. No fancy behind the back dribbling required, no more excuses. Set a date and buy something before that date, then post it for us so we can toast to your bravery and success!
Dear Carmen,
I found considerable value in the FB 3-day course but would HIGHLY recommend you use the $30k to actually invest in a property instead of giving it to someone else.
My humble suggestion, go back through your notes from the seminar. If you look carefully, you'll find a few dozen items that you need to learn about before investing. Take each item and go through the free resources on BP, You Tube, and your local library. You'll find everything you need to know to get started and to build your team. FYI, a business coach, RE agent, RE attorney, mortgage lender, and a friend with positive experiences in RE will cost a lot less than a $30k mentor program and provide a lot more benefit!
Feel free to reach out...
I must not fear. Fear is the mind-killer. Fear is the little-death that brings total obliteration. I will face my fear. I will permit it to pass over me and through me. And when it has gone past I will turn the inner eye to see its path. Where the fear has gone there will be nothing. Only I will remain.
So essentially you're going to pay tens of thousands of dollars for someone to quell your fears about REI. If you're that fearful, I doubt any amount of money would be sufficient to thrust you into action. Sounds like what you need is more education, and you're already in the right place to learn all you need. The fear is coming from not knowing. Once you have a sufficient amount of knowledge, I guarantee your fears will lessen and you will be ready to invest. Don't waste your money on gurus. Devour the information in the forums, find local investors who can help you, listen to every single BP podcast, and then take your hard earned money and go buy a house! Good luck to you.
The human mind is a funny thing . Fear plays such a powerful role in our mind .. in fact We have such fear of the risk we could lose money that we will actually pay large sums of money out with a 100% chance of losing it to try and mitigate that risk ! I have no doubt the people who are indecisive and scared of real estate will build people like “ fortune builders” a massive fortune
Thought for sure you were gonna mention your McRib Platinum Mastery program! May as well try and buy the White House with no money down.
Fortune Takers is a rah rah raise your credit card limits at the back of the room bogus deal like all the rest of them, Carmen. Find a book on the strategy that interests you and borrow it from the library. Landlording, flipping, whatever. The program will be there after you have read 3 books so it won't hurt. Like others have said, invest the $30k (what???) into an actual asset.
@Carmen Marshall I tend to be a contrarian on the subject of paying for education. I paid for a real estate education program before I found BiggerPockets (and it was more than 30k). My education program propelled me much further and much faster than if I had not taken the program but had rather just done a self study of real estate investing. Through my program I made some really good contacts that connected me to people who have magnified my efforts such as great bankers, wholesalers, and contractors. So for me, I am happy to pay for education that will make me 10X the cost of the course. But that is my personality. And I think personality has a lot to do with the success people have with these types of programs. I will say that BiggerPockets has added a lot to my knowledge about REI even after my year long course had ended and I wouldn't be as far along as I am now if it were not for BiggerPockets.
One important thing to note though is that real estate investing is localized to a market and certain strategies work better in certain markets. So whatever you choose to do, I would encourage you to connect with local investors in your preferred market and see if you can partner up with them somehow so that you can learn how to invest successfully in that particular market.
What I would hate to have happen is for you to post a question on BiggerPockets asking if you should do an expensive education program and get a ton of negative feed back, and then decide not to do it, and then ultimately not do anything because no one reached out and offered to help you learn. It is easy to criticize someone’s idea and then leave them there trying to figure out what to do instead. I like the phrase “don’t tear someone’s house down unless you can build them a better one.” I didn’t see many of the posters above offer to mentor or coach you for free. Just saying.
@Carmen Marshall I'll save you the money and tell you that it's a waste of time, effort and resources. As @Stacey Paulin eloquently said, if your only concern is fear no amount of training will help. A little anxiety is fine and helpful but honestly you don't need a coach for what you are proposing.
Honestly, if you have $30K to blow, I can walk you - step-by-step - on how to find multifamily properties, how to analyze them at an institutional level (i.e. investment bank, hedge fund), finance right, manage right, refinance right and sell right.
Also, I promise to not give you BS about finding your "why" and/or telling you to give me your credit report so that I can force you to increase your credit limit to afford my programs.
@Eric Adobo lol @ 5 rentals course. @Caleb Heimsoth said it right. Anyone can look like a rock star if they bought in the midst of the worst recession since the Great Depression. I'm sure Paula Pant is a super-talented person but going off the information you'be provided, I wouldn't take her course. Plus, there's a big difference between writing a successful blog (which is very hard) and being a successful investor over-and-over again. Can't rest on one's laurels from years ago.
The OP had a legitimate question. I can quote Dune on a thread like this but I can't in good conscience pimp flaked and formed seminars. But it is too good a gag to give up.
@Omar Khan When we expand, you'll certainly be on my potential instructor list.