WREIN, Kelton Todd, Tresa Todd-Lugten
New to Real Estate · Candor, NY · Member since 2016 · 6 posts · 15 votes
Hey folks, I have an opportunity to join a mentorship program with Tresa Todd-Lugten and the Women's Real Estate Investors Network. It looks perfect for me, but I'm concerned there may be something bad that I don't know about. I'm not too worried about overpaying, just about getting bad value, or worse yet, bad practices. Does anyone have any experience with these people?
I also took her class. I learned a lot. I didn't do the coaching program but it sounds legit, just expensive up front. I joined propstream and connected investors. I can find foreclosures and preforeclosures pretty easy that way. Your job is to solve their problem. So explaining why an investor (you) is preferable in their situation is critical. So here's my opinion, take it or leave it.
1. Selling through a broker can take 2 weeks to get a listing live, between pics and creating the listing etc. Depends on the broker. And it can take months to sell. Depends on the market.
2. An investor will generally waive appraisal and purchase with an inspection only and close within 2-3 weeks. So if you're a distressed owner in a hurry to sell, out of time or don't have the money to make repairs or compromise on inspection and repairs OR you don't want endless showings and strangers wandering through your house, especially during covid, then an investor is fast and easy. Is that worth 5-10%? Probably.
3. Generally a foreclosure is in poor shape and needs repairs to make it anywhere near comps. So there's that. Retail buyers are picky. A distressed owner isn't about to upgrade and repair. If they had the money they wouldn't be in distress. So they'll sell it for cheap anyway (not full retail) and then pay the 6% on top of that. IF it sells in time. Whereas selling to an investor they skip the hassle, the pictures, the showings, the repairs, etc. and get out from under it in time to move on with their life with $ to put down on something else. And if they're smart they can maybe get a tax break for it, if they can show a loss on paper. (Run the numbers for them) If they're in an active bankruptcy that's also a factor. Again, your mission is to solve their problem and you need to know how you're doing that. Otherwise, no, they won't sell to you. They'll go see a realtor with the fantasy that they'll get full retail and potentially wind up losing it to the bank, at which point it poses the risk of short sale, which may be worse than a foreclosure. The IRS will literally bill them for roughly 30% of the difference in what's owed versus what it sold for. Then bankruptcy may be their only option and they won't be able to buy another home for 7 years. So a realtor is a big gamble at that point.
These are real human beings in bad situation and they need real advice and real creative solutions to get out from under it. That's where you get to make a difference. And that is worth something. If you believe you're undercutting them while trying to convince them that you're not, you're missing a big piece. You are a problem solver. That's you. Not just someone out looking to make a buck off someone else's suffering to solve whatever your own problems are. Does that make sense? That's why they might sell to you versus going through a broker. Again, just my take on it. But your intentions and beliefs are just as important as the numbers. How can I help versus how can I benefit.
I don't have experience with these guys. However, most "legit" teachers/mentors will have a money-back guarantee or something similar. This way you can have a week to take it in and see if it's worth the value. Hope this helps!
Thank you, Matthew! I'll ask about that.
Hey Lori!
I'm so glad you asked this question as I'm considering taking one of Tresa's courses and I wondered the same. How did it turn out for you? Any feedback is appreciated. THANKS!
@Lori Brock- Hi Lori, this is a great question. I am about to start a masterclass with this lady. Can you please let us know if you took the class and and is it investing in this program a good thing? Thanks.
Hi Mayerling, I liked the class very much, but decided not to go forward with her coaching program primarily because my husband was skeptical. So, I'm afraid I can't tell you whether it would be a good idea or not. Best wishes!
@Lori Brock- Hi Lori I finished the class. It was good 7 days. However, I decided not too proceed with the mentorship either.
@Mayerling Mejia
Thanks for the update. I'm glad to hear that you too found the 7 day class valuable. Best wishes on you REI journey!
@Lori Brock- thanks, praying and hoping for the best.
New to REI. Took Tresa's course. Really like her integrity. I am not convinced it is easy to find foreclosures. Also. Why would I sell to investor at 10% or 20% discount if I an sell through realtor at a cost of 6%. Any ideas on that?
I also took her class. I learned a lot. I didn't do the coaching program but it sounds legit, just expensive up front. I joined propstream and connected investors. I can find foreclosures and preforeclosures pretty easy that way. Your job is to solve their problem. So explaining why an investor (you) is preferable in their situation is critical. So here's my opinion, take it or leave it.
1. Selling through a broker can take 2 weeks to get a listing live, between pics and creating the listing etc. Depends on the broker. And it can take months to sell. Depends on the market.
2. An investor will generally waive appraisal and purchase with an inspection only and close within 2-3 weeks. So if you're a distressed owner in a hurry to sell, out of time or don't have the money to make repairs or compromise on inspection and repairs OR you don't want endless showings and strangers wandering through your house, especially during covid, then an investor is fast and easy. Is that worth 5-10%? Probably.
3. Generally a foreclosure is in poor shape and needs repairs to make it anywhere near comps. So there's that. Retail buyers are picky. A distressed owner isn't about to upgrade and repair. If they had the money they wouldn't be in distress. So they'll sell it for cheap anyway (not full retail) and then pay the 6% on top of that. IF it sells in time. Whereas selling to an investor they skip the hassle, the pictures, the showings, the repairs, etc. and get out from under it in time to move on with their life with $ to put down on something else. And if they're smart they can maybe get a tax break for it, if they can show a loss on paper. (Run the numbers for them) If they're in an active bankruptcy that's also a factor. Again, your mission is to solve their problem and you need to know how you're doing that. Otherwise, no, they won't sell to you. They'll go see a realtor with the fantasy that they'll get full retail and potentially wind up losing it to the bank, at which point it poses the risk of short sale, which may be worse than a foreclosure. The IRS will literally bill them for roughly 30% of the difference in what's owed versus what it sold for. Then bankruptcy may be their only option and they won't be able to buy another home for 7 years. So a realtor is a big gamble at that point.
These are real human beings in bad situation and they need real advice and real creative solutions to get out from under it. That's where you get to make a difference. And that is worth something. If you believe you're undercutting them while trying to convince them that you're not, you're missing a big piece. You are a problem solver. That's you. Not just someone out looking to make a buck off someone else's suffering to solve whatever your own problems are. Does that make sense? That's why they might sell to you versus going through a broker. Again, just my take on it. But your intentions and beliefs are just as important as the numbers. How can I help versus how can I benefit.
I took the 7-day master class in September. I loved it! She is a great teacher, and so are her sons. Things are explained well without a lot of fluff talk most of the other experts, gurus, etc. do. I can't afford the mentorship. I wish I could. However, I am retaking the master class again in December. That's how good it was. And, you're with other women, being taught by a woman. It is well worth the $17.
I did Tresa's WREIN mentorship program (I think it was like $9K) early last year. She's great, super down-to-earth, and I learned a lot. The bummer is that this whole online course thing is new to them, and so their support is either really slow or non-existent. They have no phone number for you to call, and so you get stuck in a loop of non-answers for the simplest questions (like what FB group am I supposed to be in, etc). I'm sure her heart is in the right place but for that amount of money I think they need to up their game and get on their customer service. I'm sure she is making a killing getting hundreds of women to join every month, and more power to her, but they need to pay as much attention to their response rate for those who already paid (and giving the right responses) as they are to their sales. I'd love to see them improve and continue to be successful. I'll re-post here if I notice improvement :).
Hi Marci,
How are you doing with Tresa's mentorship program? I am considering signing up but the reviews are limited.
Any thoughts on this would be greatly appreciated.
I'm thinking about signing up too after just finishing the 7 day course. They dont have any hard stats on the success of the people in the network so they couldn't tell me how many people who paid for the network had gotten involved and had success from their process. I'd like to start passively as a lender but dont know what the activity level looks like. Are there too many lenders or not enough people seeking a loan on the network? The buy in is $9700 which is pretty steep. Even though I know I could get that back quickly even as a passive lender I'm nervous with the lack of data on the opportunity set. This page has been the best source of unbiased feedback and this is limited too.
I highly recommend Wrein mentorship. I joined February 2021 and by February 2022 my profits will be approximately $300,000. They added many classes in October and doubled their staff. All to create a fantastic learning experience, and give professional customer service. Full disclosure, I recently started coaching rehab for them since I have 20 years experience in remodel and design. But, the investing education was phenomenally profitable for me and my husband. Worth every penny!!
Hi Lori. I've just completed Day 5 and the mentorship program is being offered at $9700. I've be researching reviews though circled back here to you to see if you moved forward with the program and how it's going. Looking to find out how long she's been in the mentoring business as well as her sons. I'm inspired to do it, just wish there was someone with a real life experience to validate what I feel will be well worth the investment. I hope you've found success!
I highly recommend Wrein mentorship. I joined February 2021 and by February 2022 my profits will be approximately $300,000. In addition, I’ve added 5 Short-term rentals to my portfolio in the same 12 months. They added many classes in October and doubled their staff. All to create a fantastic learning experience, and give professional customer service. Full disclosure, I recently started coaching rehab for them since I have 20 years experience in remodel and design. But, the investing education was phenomenally profitable for me and my husband. Worth every penny!!
Hi Marci,
How are you doing with Tresa's mentorship program? I am considering signing up but the reviews are limited.
Any thoughts on this would be greatly appreciated.
Hello! Hope this helps you all with regard to whether or not to do the WREIN mentorship ($9700). I learned a ton from Tresa and her sons, and I think it's an excellent place to start if you are really serious and committed to making money in RE investing! They teach everything from finance to what mattresses to put into your rentals - so much great information and I was really impressed. I thought I knew all there was to know about real estate (I'm an agent), but some of the things I learned from the coursework were literally game-changers. If you can afford it, or even if you just MAKE IT HAPPEN if it feels a little out of reach, I highly recommend it. You're worth it!
I’m in the WREIN mentorship and don’t regret it. Though the bigger pockets forum might have the same content. Not sure about the connections yet as I just started my mentoring this week. There’s a 7 day class for $17 which would probably be your trial period other than the 3 day right to rescind.
Hi All,
I was skeptical about joining the WREIN master class for 7 days, but so far so good for the first 2 days, and seems pretty good, but I learned most from BP so far. I am not sure what the difference is between master class and mentoring for 9K unless they walk you through some RE sales. It would be nice to actually have someone from the FB group shadow a person of their first walk through BRRR or wholesaling, before investing in a 9k mentorship program.
Can anyone share what you learned from the WREIN mentorship program that would make someone purchase the 9K program? it seems pretty steep to purchase when you are just starting out. It sounds like the Fortune Builder mentorship program which sells for 30K but thought it was way too expensive to purchase at the time.
I highly recommend Wrein mentorship. I joined February 2021 and by February 2022 my profits will be approximately $300,000. They added many classes in October and doubled their staff. All to create a fantastic learning experience, and give professional customer service. Full disclosure, I recently started coaching rehab for them since I have 20 years experience in remodel and design. But, the investing education was phenomenally profitable for me and my husband. Worth every penny!!
Did you have much real estate experience before signing up? Did you find the material easy to understand and apply? Did you get the help you need and were they responsive to your questions/phone calls?
Thanks!
Sue Manseau
No, other than my own homes and properties, I didn’t have real estate experience.
The coaching is great! I bought my first investment about 6 weeks after starting and did 10 projects in first year.
I also took her class. I learned a lot. I didn't do the coaching program but it sounds legit, just expensive up front. I joined propstream and connected investors. I can find foreclosures and preforeclosures pretty easy that way. Your job is to solve their problem. So explaining why an investor (you) is preferable in their situation is critical. So here's my opinion, take it or leave it.
1. Selling through a broker can take 2 weeks to get a listing live, between pics and creating the listing etc. Depends on the broker. And it can take months to sell. Depends on the market.
2. An investor will generally waive appraisal and purchase with an inspection only and close within 2-3 weeks. So if you're a distressed owner in a hurry to sell, out of time or don't have the money to make repairs or compromise on inspection and repairs OR you don't want endless showings and strangers wandering through your house, especially during covid, then an investor is fast and easy. Is that worth 5-10%? Probably.
3. Generally a foreclosure is in poor shape and needs repairs to make it anywhere near comps. So there's that. Retail buyers are picky. A distressed owner isn't about to upgrade and repair. If they had the money they wouldn't be in distress. So they'll sell it for cheap anyway (not full retail) and then pay the 6% on top of that. IF it sells in time. Whereas selling to an investor they skip the hassle, the pictures, the showings, the repairs, etc. and get out from under it in time to move on with their life with $ to put down on something else. And if they're smart they can maybe get a tax break for it, if they can show a loss on paper. (Run the numbers for them) If they're in an active bankruptcy that's also a factor. Again, your mission is to solve their problem and you need to know how you're doing that. Otherwise, no, they won't sell to you. They'll go see a realtor with the fantasy that they'll get full retail and potentially wind up losing it to the bank, at which point it poses the risk of short sale, which may be worse than a foreclosure. The IRS will literally bill them for roughly 30% of the difference in what's owed versus what it sold for. Then bankruptcy may be their only option and they won't be able to buy another home for 7 years. So a realtor is a big gamble at that point.
These are real human beings in bad situation and they need real advice and real creative solutions to get out from under it. That's where you get to make a difference. And that is worth something. If you believe you're undercutting them while trying to convince them that you're not, you're missing a big piece. You are a problem solver. That's you. Not just someone out looking to make a buck off someone else's suffering to solve whatever your own problems are. Does that make sense? That's why they might sell to you versus going through a broker. Again, just my take on it. But your intentions and beliefs are just as important as the numbers. How can I help versus how can I benefit.
That is an excellent explanation! Thanks so much for your comments!
I took the course also and am really considering the mentorship. I feel I need the education and guidance they provide.
What is your RE experience? How did you learn the business? My husband and I purchased 3 properties in CA over the years and recently exchanged into 6 rental properties. We've always gone through conventional lending and working with distressed sellers and creative financing is totally new to me.
Sue Manseau