Just paid $4000 for 3day workshop. Thumbs up or down?

Investor · Houston, TX · Member since 2020 · 79 posts · 78 votes

I don’t want to name drop but I paid $4000 for a 3 day workshop and now they want $40,000 more for coaching and mentorship. A friend of mine that has a successful portfolio worth millions advised me not to. He recommend to network as much as possible, study and research and start small and scale up. Your biggest investment is yourself so decided to check out bigger pockets to start my journey.

So curious to see who else has gone through those 3 day workshops in hotel conference rooms and try to sell you more and more things. Or who else has made it without shelling out 80,000 dollars for coaching and mentorship?

Please advise.

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Jaleel Phillips

MD · Member since 2019 · 63 posts · 71 votes

I'm confused, are you saying you paid the $4000 or are u implying that someone else did? And I'd advise against the $40,000 coaching because that is literally a downpayment on a house. Network and learn what to do from people a little more experienced at a fraction of the cost (coffee, dinner, lunch etc.) and use the $40,000 to invest in Real estate yourself.

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Amber Koontz
Houston, TX · Member since 2015 · 204 posts · 68 votes
6y
@Jeremiah Akindele My mother and I attended one of these types of seminars. They fed us a lot of hope dreams and perfect scenarios and then basically called us fools if we didn’t sign up. I’d already began consuming large amounts of data from this community, so I walked away with my head held high MOTIVATED TO DO IT ON MY OWN. I am considering a coach or mastermind group to keep me accountable for achieving my goals. I have a couple investors whom I respect and have been following that I’m considering. I need more time to narrow that list down and to also cement my goals and plan of attack.
What are your goals?
What is your biggest challenge?
I can tell you 100% that everything that was offered at the seminar I attended, was readily available on this site. I studied, networked, and took action because of BiggerPockets.
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Jeremiah Akindele
OP
Investor · Houston, TX · Member since 2020 · 79 posts · 78 votes
6y
@Kathy Cooper. I am almost convinced now that all those hotel conferences are illegal if not they need to be very controlled and monitored. Haha. And Kathy I would say this I did learn a lot of information and what I needed was not someone to hold my hand but really I’m just glad that I found out that all the information they represented is also available on YouTube and Google so I am so glad I found out about BiggerPockets. Sucks that 4 grand is gone and paid someone else mortgage with it.
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Jeremiah Akindele
OP
Investor · Houston, TX · Member since 2020 · 79 posts · 78 votes
6y
@Mark CruseThanks a bunch for the comment Mark I really do appreciate it the best part about your comment is that you earn while you learn I think I’ll take your advice and do just that thanks so much for sharing
1 Reply
Jeremiah Akindele
OP
Investor · Houston, TX · Member since 2020 · 79 posts · 78 votes
6y
@Bob PriscoHey Bob thanks for the info I know that now and I do regret the four grand that I’ve wasted but then again I wouldn’t consider it a waste I did learn a lot of information I clued in walking around some properties that we are on the contract but I just wish I find out about BiggerPockets before spending four grand but thanks again for the info
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Jeremiah Akindele
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Investor · Houston, TX · Member since 2020 · 79 posts · 78 votes
6y
@Christopher Toth hey Christopher man when you put it like that I almost want to reach into the computer and slap you a high 5. I just wish more and more people knew to save your money and not go to any of those conferences but basically invest that money in them selves or the property.
thank God for BiggerPockets
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Jeremiah Akindele
OP
Investor · Houston, TX · Member since 2020 · 79 posts · 78 votes
6y
@Levi Bennett hey Levi thanks for the comment I think that information is priceless but I think it’s also worth probably a few hundred bucks not four grand. What annoys me the most is that some of those online courses are actually way better and cheaper than a 3 day workshop for thousands in an attempt to gain thousands more.
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Jeremiah Akindele
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Investor · Houston, TX · Member since 2020 · 79 posts · 78 votes
6y
@Merritt S. Funny enough I tried Than Merrill a few years back but didn’t buy into it. The one I just left was with RE Mentor Dave Lindahl. 80k for coaching and mentorship? Jesssssuuuuuus that is a property on itself.
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Jeremiah Akindele
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Investor · Houston, TX · Member since 2020 · 79 posts · 78 votes
6y
@Larkin Adey hey Larkin. Thanks for the advice. Wish more and more people wouldn’t fall into the same trap. I am almost tempted to go protest outside those hotel conferences lol.
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Jeremiah Akindele
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Investor · Houston, TX · Member since 2020 · 79 posts · 78 votes
6y
@David Dachtera hey David a few folks actually told me to name drop because they were curious to see who the company is. So the company is called RE Mentor with Dave Lindahl. And the reason why am putting that information out there to save a lot of people or people you guys know to make sure they don’t make the same mistake.
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Anthony Rosa
Rental Property Investor · New York City · Member since 2019 · 703 posts · 538 votes
6y
There is nothing personalized about these courses, they are one size fits all and for that they are not good for me. Now they want 40K from you......I bet it comes with a Lolipop!
You could get knowledge and mentorship by going to meetups and meeting the right person that successfully does what you want to do. Treat him/her to dinner and drinks and make a new friend or even a partner.
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Account Closed
Contractor · Eureka, CA · Member since 2015 · 101 posts · 64 votes
6y
@Jeremiah Akindele Keep your $$$ for the real deal, friend! Seriously check out the podcast episodes from biggerpockets, search through the subjects to find the ones you might be especially be interested in, read blog posts from senior members and people with track records and staying active in the forums. It's all here! Good luck
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Caleb Fledderjohann
Real Estate Agent · Minster, OH · Member since 2019 · 35 posts · 19 votes
6y
@Jeremiah Akindele I don't know what level of investments your looking at, but $40,000 can get you started on a property (or multiple). From that point, a lot of self education takes place with real-life scenarios that you can't duplicate in a workshop. Save your money. Best of luck on your investments.
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Jeremiah Akindele
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Investor · Houston, TX · Member since 2020 · 79 posts · 78 votes
6y
@George Munoz. Hey George thanks for your response. I wish I knew that what I know now before I signed up for the workshop. I just wish more people knew about it and save their money. Glad to be on bigger pockets and FollowiNg their podcasts and channel on YouTube and trust me I’ve bought a bunch of books on Amazon just to learn even more.
1 Reply
Amber Koontz
Houston, TX · Member since 2015 · 204 posts · 68 votes
6y
@Blake Mitchell I watch Graham for reviewing Index Funds and Roth IRAs: Brokerage account insight. Meet Kevin has some pretty good savings account ideas. They both provide pretty good content. Like you, I’ve only consumed the free material which is very useful.
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Jeremiah Akindele
OP
Investor · Houston, TX · Member since 2020 · 79 posts · 78 votes
6y
@Joel Owens. Well said Joel.
Very well said my friend. That is the first and I did I bought my friend with the portfolio lunch and we talked about it and that’s how I found out about bigger pockets. From now I’ll be all investments are making is education and myselfWhile protecting others to not make same mistake that I made.
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Jeremiah Akindele
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Investor · Houston, TX · Member since 2020 · 79 posts · 78 votes
6y
@Ken Swearengen. Thanks for the information Ken. I see you are a software developer. I was as well before moving into Agile software project lead. Again I have truly learned my lesson just wish more people could avoid the same pitfall.
1 Reply
Christopher Toth
Rental Property Investor · Denville, NJ · Member since 2017 · 107 posts · 54 votes
6y
@Jeremiah Akindele high five to you!
Just read books and listen to podcasts. Cheaper and less fluff.
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Jeremiah Akindele
OP
Investor · Houston, TX · Member since 2020 · 79 posts · 78 votes
6y
@Pablo Davidov thanks for the info Pablo. Watched that video a few days ago actually. Also following and subscribed to Brandon. Wish I knew about this 6 weeks ago, I could be 4 grand richer lol.
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Jeremiah Akindele
OP
Investor · Houston, TX · Member since 2020 · 79 posts · 78 votes
6y
@Hadley Hartford Hornig. You are absolutely right Hadley. Trial and error is the at times the best teacher. Lesson well learned on my end.
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Pablo Davidov
Real Estate Agent · Fort Lauderdale, FL · Member since 2019 · 37 posts · 17 votes
6y
Lol @Jeremiah Akindele. Sometimes you win, sometimes you learn. At least you posted this on the forum before dishing out $40K. Better late, than never.
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Joel OwensBusiness Member
Moderator
Real Estate Broker · Canton, GA · Member since 2010 · 15k+ posts · 11k+ votes
6y
A main goal of many of these course sellers is to (monetize the marchers). What that can mean is that at bottom of cycle it's easy to tout whopper gains. Finding good deals gets harder and harder as the herds kick in and the asset class goes top cycle.
So you will see less of these seminars typically at the bottom cycle and MORE of them top cycle. The promoters tout the big payouts of the past to get BUY IN for courses and materials today. They (monetize the marchers) make money off of the through courses and coaching and have them like ants searching for properties that are ACTUALLY deals.
Think about it you try and teach thousands what a deal is but many have limited funding. Then you offer to partner with them on a deal ,fund the deal, or buy it yourself and pay them a consulting fee, assignment fee,etc. Why pay staff per hour when you can have thousands searching for free?
Podcast Guest on Show #47
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Jeremiah Akindele
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Investor · Houston, TX · Member since 2020 · 79 posts · 78 votes
6y
@Tim Hendricks. Thanks a lot for the information to him I really do appreciate it. I do wish BiggerPockets existed in 2000. That would’ve made me $4000 richer LOL
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Andres A.
Specialist · Atlanta · Member since 2019 · 88 posts · 53 votes
6y
Lots of scammers out there
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Jeremiah Akindele
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Investor · Houston, TX · Member since 2020 · 79 posts · 78 votes
6y
@Snehann Kapnadak. Great advise Snehann. The only upside is that most of the information that was presented I found it on YouTube two days later. That is what makes me lose hair.
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Jeremiah Akindele
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Investor · Houston, TX · Member since 2020 · 79 posts · 78 votes
6y
@Matt Nusbaum. Hey Matt thanks so much for the advice. The nerve-racking part is that they wanted me to max out my credit card and also take a loan out of my 401(k) to pay for the mentorship and to me that was a red flag but by then it was too late because I had already paid $4000 for the training. A few people in the class were also uneasy So they decided to partner with you on a deal and take out the $40,000 from your cut or acquisition fee on your next deal or a couple of deals.
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