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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Ola Dantis
Multifamily Syndicator · Houston, TX · Member since 2016 · 1k+ posts · 2k+ votes
6y
Originally posted by @Jeremiah Akindele:
@Ola Dantis great info Ola. That’s is an interesting perspective that I never considered. My fear or rather biggest concern is that all these hotel lobby workshops will keep asking for more and more and more with every level of expertise and coaching. Heck my masters degree cost 80k and I am still paying for it till today. So I am willing to pay the price is the value is inevitable not gamble my savings on a guy selling me financial freedom through information I can get on these forums for instance. Great connecting with you.

I so do agree with you about the upselling, it's ridiculous. For some weird messed-up reason I think some people like it?!!! 🤔 I mean these guys are making a killer from these type of sales tactics. Sad!
Jeremiah, I'm moving my family to Katy, TX in about 1 week. Let's connect!
0 Reply
Matthew Irish-JonesBusiness Member
Real Estate Agent · Buffalo, NY · Member since 2017 · 2k+ posts · 2k+ votes
6y
Originally posted by @Theresa Harris:
Originally posted by @Matthew Irish-Jones:
@Jeremiah Akindele. That’s way too much money hat could have been spent investing.
Books cost 10 bucks and have all the same info, and you can keep them as a reference and use them over and over.
$400 spent on books and you will have all the info you will ever need. It’s all about experience and networking after that

Or you could borrow them from the local library.

Now that's some savvy investor advice.. I agree wholeheartedly and have tried... sadly not a ton of RE book at the local library.

Irish Jones Realty4.948 Reviews
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Livingston Lee
Homeowner · York, PA · Member since 2019 · 13 posts · 5 votes
6y
@Jeremiah Akindele that is a boat load for mentoring. I think it could be good but you could learn just as much from someone in the business. You could also take that 40k and partner with someone with experience and learn a ton that way. Just my humble opinion.
1 Reply
Eric Lefebvre
Pittsfield, MA · Member since 2017 · 10 posts · 7 votes
6y
@Jeremiah Akindele I'm a newer investor from a crappy western Massachusetts town. I saw all the paid training and thought it was ridiculous to pay anything for it. All my training was free. YouTube and bigger pockets podcasts mostly. Even bought 3 bigger pockets books and is reading them as we speak which are all great. Only money I spent was about 100$ on bigger pocket books. I have a wealth of knowledge and feel very confident. I have 3 properties right now and going to sell them to invest long distance becuase this is not a good place to invest. It's been 2 years since I started and haven't stopped listening and watching for free I remind you. Get the drive to find it yourself. I could start a real estate training class if I had the ambition to do it which I dont. They are just telling you what's already out there and their own experiences. So is there experiences worth 4000? No. Someone else will tell their story for free on the internet. So spend that money you have left on houses! Not training u can get for free!
1 Reply
Ramona Jalleh
Member since 2019 · 1 post · 0 votes
6y
Check out this Article, I found it in the first guide under the education tab here on the site. "The Real Estate Guru Trap—How It Works & 4 Ways to Avoid It,"
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Beck Joyner
Realtor · Harrisburg, PA · Member since 2017 · 43 posts · 43 votes
6y
I agree with the other posters! Use this forum, especially the calculators to analysis would be deals (just pick a few off of zillow just to practice). Watch youtube, google and read, read, read.
1 Reply
Ben Dao
Rental Property Investor · Saint Louis, MO · Member since 2016 · 123 posts · 84 votes
6y
@Jeremiah Akindele Usually, they are just pitchfest. Please save your money. If you spend money, try to spend it on an actual asset.
1 Reply
Federico Peralta
Specialist · Aberdeen, NJ · Member since 2019 · 30 posts · 4 votes
6y
@Jeremiah Akindele
I attended a workshop with a company called LEGACY EVENTS , let me tell you something my friend I payed $350 for 2 people for 3 days , in the last day they started pushing $38,000 dollar and $45.000 thousand dollar work shops 😳😳😳 , and the amount of people I saw paying that money was ridiculous, I saw 13 couples paying the high amount, personally you rather find meet up groups and learn from BIGGERPOCKETS!!!!
0 Reply
Janell Lowrance
Sacramento, CA · Member since 2019 · 1 post · 0 votes
6y
There are a number of programs out there to help you. Paying allows you to streamline your success faster. They give you access to the resources and foundation.
I went through a 3 day training at the end which they said we could continue for $30,000. If I had had the money I would have done that.
The value of what you paid is based on your perception. What I learned in that 3 day weekend I have used to get a few deals closed that we’re not for multi family but commercial.
I think it’s worth it, the program I used showed me how to pay myself back (for the $30,000) on each deal. You want to have an abundance mentality, there is enough out there for everyone.
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Anthony Gale
Member since 2019 · 15 posts · 0 votes
6y
@Jeremiah Akindele I ve done it. Never went to the next level but been to two of them. 400 saved me 10000 in mistakes but i did not do the 40000 and like you talking to others and it's slow but hard enough getting money for all the fees they don't tell you about sure can't see me going in debt 40k before I get started. I understand some say it's an investment and can speed you up but I'm a slow and steady kinda guy. Age also has a factor in it, the decision factor. Just my view .
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Blake Hrabal
New to Real Estate · Ridgway, CO · Member since 2019 · 46 posts · 12 votes
6y
I personally think the $4000 wouldve been better off invested - as everything you can learn about REI is online... ebooks, podcasts, youtube videos, and right here...BP Forums!
Any PROS I think....sure...u just paid $4000 to network with others on your path, before or after you, and sometimes the value of networking is priceless!
1 Reply
D Turner
Member since 2019 · 17 posts · 48 votes
6y
@Jeremy Wirths
Darn right.
0 Reply
Craig Boudy
Charleston, SC · Member since 2017 · 37 posts · 21 votes
6y
@Jeremiah Akindele I would look at the video Brandon did on YouTube about paying for coaching.
0 Reply
Account Closed
Developer · Maplewood, NJ · Member since 2019 · 56 posts · 30 votes
6y
That is a big thumbs down. All the information they are teaching you is also in books, podcasts and online. They don't give you any hands-on experience or actual deals, so it is nowhere near worth that type of money. Much more valuable would be to find a local flipper or developer, like myself, who will actually show you houses that they are flipping in person, how to find them locally, how to fix them, how to fund them, etc. I do this for $200 for 2 hour sessions and it provides far more value than all of the other expensive classroom teaching programs that provide no real in person experience. All the generic information they provide is useless with out someone to walk you through it and show you how do implement it. I have flipped over 100 homes and enjoy showing people how to do it, and that is not through a classroom.
1 Reply
Stephanie Banks
Member since 2019 · 5 posts · 12 votes
6y
Lmao , you started 2020 off bye getting robbed legally, YouTube is your online college, any and everything you need to know about Real Estate, is there for free, pls never forget this ever again CEO Leveled Real Estate Investment Group LLC Tyrone Brown
1 Reply
Cindy Cravenho
Member since 2019 · 4 posts · 0 votes
6y
@Jeremiah Akindele I literally just came from the 3 day workshop. It did not cost me 4k.
It was more like 500 dollars. Or so I cant recall
But they did try to sell me on the 40k also.. I just cant see the value in some spreadsheets for that price.
0 Reply
Cindy Cravenho
Member since 2019 · 4 posts · 0 votes
6y
@Maurice Smith did your friend benefit at all from this investment?
0 Reply
Morgan PorterBusiness Member
Property Manager · Richmond, VA · Member since 2018 · 36 posts · 19 votes
6y
@Jeremiah Akindele I’m sure there are some seminars out there that will give you some good advice and having a great mentor is priceless. HOWEVER, you never know what you will really get. If you have a friend who has already “made it” why not offer to pay them $100/hr for their advice and mentor ship? You’d get 400 hrs of their time.
1 Reply
Renee Sied
Member since 2019 · 11 posts · 40 votes
6y
@Jeremiah Akindele for 40k it better come with a property!
0 Reply
Maimouna Sow
Specialist · Newark, NJ · Member since 2017 · 80 posts · 66 votes
6y
@Jeremiah Akindele
Don’t do it bro, just use the money for own deal.
0 Reply
Maimouna Sow
Specialist · Newark, NJ · Member since 2017 · 80 posts · 66 votes
6y
@Jeremiah Akindele
I know what company your are stalking about. I can’t think of the name right now. I went to a “free” hotel conference in Albany NY, for 3 hours instead of giving us info they tried to up sell us to a weekend workshop for $199, My best friend and I knew right away it was a scam. I ended up paying for the 200$ but got my money back a couple of day later.
0 Reply
Micheal Patterson
Largo, FL · Member since 2019 · 8 posts · 3 votes
6y
@Jeremiah Akindele
I am just starting out in real estate investing, however I would agree with @Jaleel Phillips and say that 40K is a down payment on an investment property and possibly a down payment for 2 investment properties. Unless that 40K guarantees you a solid return on your investment or an asset in your hand then I wouldn’t do it. Keep reading and networking here, I’ve been on this website for only 2 months and already learned a lot. Hope this helps, good luck!
0 Reply
Fred Tichauer
Member since 2019 · 6 posts · 4 votes
6y

Jeremiah, cut your losses, and if you don't have the right real estate agent on your side, that should be your top priority.

You understand too well that you are probably making their most significant financial investment, and if you know more than your agent, what value are they bringing to you? Are you using them because they sold you your residence? Are you only using them because you like and trust them? I think clients from all walks of life deserve more. Agree?

1. They should know more than their clients

2. They should have the knowledge and experience other agents do not

3. They should have the credibility and practice what they preach and would like others to do.

4. They should have a good track record of helping clients become millionaires and also own sizeable real estate portfolio as well as flipped properties.

5. They should see themselves as a mentor, coach, consultant, wealth advisor, and see buying opportunities other agents don’t understand.

6. They see themselves as the fastest path to help clients accomplish the financial objectives, understand 1031 exchanges and using IRA's

7. They should know areas, values, comps, how to search the MLS for opportunities and know tenant-landlord laws

8. They should try to meet with their clients at least annually to help them stay on course, and most of all, they know their client's short term and long term financial goals.

9. They see themselves as the source of information for all of your real estate investment needs.

10. They should operate by the win-win philosophy and not worry about a commission check.

Agents that help clients solve their financial concerns( wealth building, retirement income, and financial freedom ) are in high demand and make an excellent living in this business, and clients will tell others how good they are, rather than tooting their own horn.

In conclusion, you deserve to have the very best real estate agent on your side, and they will be the fastest to help you accomplish your financial objectives.

"Every day, by the choices we make, we either get closer or farther away from financial freedom."

0 Reply
Maurice Smith
Member since 2018 · 211 posts · 164 votes
6y
Originally posted by @Cindy Cravenho:
@Maurice Smith did your friend benefit at all from this investment?

I cant speak for the next person so its hard to say. did I benefit from it? I enjoyed being around people who had the same type of goals and drive as me, but that's about it. I guess that just depends on your personal goal. If your new to real estate and need some motivation/ guidance it real easy to get caught up in the smoke and mirrors be cautious of that because people will try and take advantage of you first chance they get. I would value it at $500 at most. anything over that is a rip off in my opinion
0 Reply
Jeremiah Akindele
OP
Investor · Houston, TX · Member since 2020 · 79 posts · 78 votes
6y
@Fred absolutely right... I have moved on and just wish more people wouldn't make that same mistake... So goes the saying there is no sacrifice without growth right?

Originally posted by @Fred Tichauer:

Jeremiah, cut your losses, and if you don't have the right real estate agent on your side, that should be your top priority.

You understand too well that you are probably making their most significant financial investment, and if you know more than your agent, what value are they bringing to you? Are you using them because they sold you your residence? Are you only using them because you like and trust them? I think clients from all walks of life deserve more. Agree?

1. They should know more than their clients

2. They should have the knowledge and experience other agents do not

3. They should have the credibility and practice what they preach and would like others to do.

4. They should have a good track record of helping clients become millionaires and also own sizeable real estate portfolio as well as flipped properties.

5. They should see themselves as a mentor, coach, consultant, wealth advisor, and see buying opportunities other agents don’t understand.

6. They see themselves as the fastest path to help clients accomplish the financial objectives, understand 1031 exchanges and using IRA's

7. They should know areas, values, comps, how to search the MLS for opportunities and know tenant-landlord laws

8. They should try to meet with their clients at least annually to help them stay on course, and most of all, they know their client's short term and long term financial goals.

9. They see themselves as the source of information for all of your real estate investment needs.

10. They should operate by the win-win philosophy and not worry about a commission check.

Agents that help clients solve their financial concerns( wealth building, retirement income, and financial freedom ) are in high demand and make an excellent living in this business, and clients will tell others how good they are, rather than tooting their own horn.

In conclusion, you deserve to have the very best real estate agent on your side, and they will be the fastest to help you accomplish your financial objectives.

"Every day, by the choices we make, we either get closer or farther away from financial freedom."

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