Lindahl's Multi Family Millions bootcamp in Phily PA - 11/18

Rental Property Investor · Glen Rock, NJ · Member since 2015 · 3k+ posts · 2k+ votes

Is anyone interested in attending Lindahl's Multi Family Millions 3 day bootcamp near Philadelphia PA on 11/18 - 11/20 and splitting up the cost of training with me?

Details about the bootcamp: This is a live, 3-day boot camp designed to show you how to conquer your fears of owning multi-family properties; invest safely & profitably; and never deal with tenants except to deposit their checks into your bank account. You will leave this event a multi-family investing profit expert!

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Michael Gansberg

Investor · New York City, NY · Member since 2015 · 388 posts · 563 votes

@Alina Trigub, it's great that you're on the path to increasing your real estate knowledge. Have you considered taking the $38k that you plan on spending on your class and putting it into an actual home purchase? Then renting that home out, and using that experience as your education?

Before doing that, it'd probably be good to spend $20-$30 on one or two good real estate books to learn the basics. Some people use(or even max out) credit cards to take these courses- and I doubt these classes offer much more than a good book on the subject. If you max out your consumer credit, and are paying the typical rate for consumer debt, it will make it much more challenging for you to obtain a loan when you're ready to move ahead with your real estate career. Think about it- you could be paying up to $10,000 per year in interest on a deal like that!! I can't imagine any value, any information, any thing that they could tell you to overcome the negatives to your balance sheet and cash flow that come with a thirty-eight thousand dollar hole and ten thousand per year in carrying costs. Also, maxed out cards are bad for your credit score, potentially impacting your future ability to obtain a loan(mortgage) on good terms.

Consider the alternative- a 20% down payment with that sort of coin could land you a house which sells for $150k. Or you could buy a really lousy foreclosure for $20k, and bootstrap with your last $18k to rehab it(or rehab one of the two units and get it rented.) Even if you did a lousy job in either of those circumstances, you'd probably be way better off than if you flushed $38k on one of those silly courses. I linked a thread about Fortune Builders below- it kind of sounds like what you're thinking about doing. These operations tend to be pretty boilerplate, I suspect- it's just real estate, after all, not rocket science. Good luck!

Fortune Builders?

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Jeff Morelock
Rental Property Investor · Marianna Florida · Member since 2011 · 357 posts · 169 votes
9y
Hi Alina
I just attended this in Tampa. Just a heads up, you will NOT leave that event as an expert.
They'll basically try to intimidate you and tell you not to try buying anything until you sign up for their $38,000 Mastery Program.
That being said, I would have signed up for their Mastery Program if I had the $38K, and probably will after my next deal. The $1495 bootcamp you're talking about does include their home study course, and probably was worth the $1495 I paid for the home study course and bootcamp.
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Eric Bilderback
Real Estate Agent · Sisters, OR · Member since 2014 · 1k+ posts · 1k+ votes
9y
They had another thread on this. People were really ripping this thing. You may want to search for it.
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Alina Trigub
OP
Rental Property Investor · Glen Rock, NJ · Member since 2015 · 3k+ posts · 2k+ votes
9y
@Jeff Morelock - thank you very much for your feedback. I pm'ed you to talk further.
@Eric Bilderback - thanks for pointing me to another thread. Will look for it.
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Michael Sjogren
Investor · Beverly, MA · Member since 2014 · 103 posts · 70 votes
9y
@Alina TrigubI've personally been through it and found the information extremely beneficial. Well worth the money. Yes, you will be upsold but the home study course and the content at the event is world class. Dave and his team know their stuff for sure.
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Alina Trigub
OP
Rental Property Investor · Glen Rock, NJ · Member since 2015 · 3k+ posts · 2k+ votes
9y
@Michael Sjogren - thanks a lot for your feedback! If I may ask who was your trainer? thanks!
@Jeff Morelock - can you please tell me who was your trainer? thanks!
0 Reply
Shawn AckermanPro Member
Real Estate Entrepreneur · Mid West, East Coast · Member since 2015 · 3k+ posts · 1k+ votes
9y
Gotta love the GURU business!
0 Reply
Michael Gansberg
Investor · New York City, NY · Member since 2015 · 388 posts · 563 votes
9y
@Alina Trigub, it's great that you're on the path to increasing your real estate knowledge. Have you considered taking the $38k that you plan on spending on your class and putting it into an actual home purchase? Then renting that home out, and using that experience as your education?
Before doing that, it'd probably be good to spend $20-$30 on one or two good real estate books to learn the basics. Some people use(or even max out) credit cards to take these courses- and I doubt these classes offer much more than a good book on the subject. If you max out your consumer credit, and are paying the typical rate for consumer debt, it will make it much more challenging for you to obtain a loan when you're ready to move ahead with your real estate career. Think about it- you could be paying up to $10,000 per year in interest on a deal like that!! I can't imagine any value, any information, any thing that they could tell you to overcome the negatives to your balance sheet and cash flow that come with a thirty-eight thousand dollar hole and ten thousand per year in carrying costs. Also, maxed out cards are bad for your credit score, potentially impacting your future ability to obtain a loan(mortgage) on good terms.
Consider the alternative- a 20% down payment with that sort of coin could land you a house which sells for $150k. Or you could buy a really lousy foreclosure for $20k, and bootstrap with your last $18k to rehab it(or rehab one of the two units and get it rented.) Even if you did a lousy job in either of those circumstances, you'd probably be way better off than if you flushed $38k on one of those silly courses. I linked a thread about Fortune Builders below- it kind of sounds like what you're thinking about doing. These operations tend to be pretty boilerplate, I suspect- it's just real estate, after all, not rocket science. Good luck!
MG
Fortune Builders?
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Alina Trigub
OP
Rental Property Investor · Glen Rock, NJ · Member since 2015 · 3k+ posts · 2k+ votes
9y
@Michael Gansberg
Thank you for your detailed input and valuable advise!
The course I'm considering costs a lot less than 38K! The reason I decided to take it is cause I have received feedback from a number of local (to me) investors praising this real estate school. While I'm aware of up-selling, my primary goal is to learn the foundation and to network. This kind of event entails both things.
Best!
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Jeff Morelock
Rental Property Investor · Marianna Florida · Member since 2011 · 357 posts · 169 votes
9y
The main guy's name was Steve - sorry but I don't remember his last name.
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Michael Sjogren
Investor · Beverly, MA · Member since 2014 · 103 posts · 70 votes
9y
@Alina Trigub Dave Lindahl did the entire training himself. His coaching staff was there to help answer any questions during breaks as well.
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Michael Sjogren
Investor · Beverly, MA · Member since 2014 · 103 posts · 70 votes
9y
Personally, I wouldn't spend $38k but i split the bootcamp with someone like @Alina Trigub suggested. Well worth it. Also it's free if you're a veteran.
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Alina Trigub
OP
Rental Property Investor · Glen Rock, NJ · Member since 2015 · 3k+ posts · 2k+ votes
9y
@Michael Sjogren - thank you again for the feedback. And that's exactly my plan as well - just to do the bootcamp and no Mastery program.
@Jeff Morelock - thanks for the instructor name. it must have been Steve Clements and he is teaching this bootcamp again. Was he knowledgeable and easy to follow?
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Jeff Morelock
Rental Property Investor · Marianna Florida · Member since 2011 · 357 posts · 169 votes
9y
He's definitely knowledgeable. He went a little too fast through the section on running numbers, but other than that and the constant sales pitch for the Mastery Program he was a good instructor.
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Mike Nelson
Investor · Oak Park, IL · Member since 2014 · 316 posts · 150 votes
9y
I don't have anything to add regarding the courses, but I bought three of his books on Amazon and found them a good bang for the buck. I learned a lot from "Multifamily Millions" and his philosophy in this area. What I took home is buy a multi-unit from 12-400 units in the right location which will provide a good return on investment over a period of several years with a profit upon sale due to repositioning. One key was hiring the RIGHT manager rather than self-managing, since buying at the right price leaves room for paying the property manager.
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Al Lev
Rental Property Investor · Brooklyn, NY · Member since 2008 · 22 posts · 11 votes
9y
Alina, I personally have not attended this bootcamp however somewhat familiar with David's work as I read some of his books and materials (you can find them on ebay). For the entrance price of the bootcamp (even if you split it with someone) you can get better value trying to partner with someone locally.
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Alina Trigub
OP
Rental Property Investor · Glen Rock, NJ · Member since 2015 · 3k+ posts · 2k+ votes
9y
@Jeff Morelock, @Mike Nelson, @Al Lev
thank you all for your input!
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Jay HinrichsBusiness Member
Real Estate Consultant · Summerlin, NV · Member since 2014 · 45k+ posts · 66k+ votes
9y
@Mike Nelson in many states it is state law that any apartment over a certain amount of units.. 20 to 40 you MUST have on site management so that's no revelation..
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