RE Mentor - Multifamily bootcamp
Most Popular Reply
Real Estate Broker · Canton, GA · Member since 2010 · 15k+ posts · 11k+ votes
8yIt's just another income stream. When people build companies they have multiple ways to make revenue.
Early in the cycle deals are abundant so those with experience tend to buy as much as they can as fast as they can. When deals get harder to find top of the cycle then more emphasis can be put on teaching while still looking for harder to find properties and that network can be pushed out like an army of ants to find more properties.
Sometimes I get contacted by people that want to learn about commercial retail but are not at the level of my typical client. I am developing courses that they can buy.
For instance someone has a net worth of 500k but wants to buy something at 500k. I do not have the time to educate them intensely on the process for a check of maybe 15,000. I am already doing that with clients to make 100k plus per transaction. It can also work for say investors that contact me that are accredited but they do not feel comfortable putting in 800,000 down on one property so then instead they can invest with me as a sponsor at a lesser amount to start.
You have to kind of meet people where they are and offer them options. If someone has worked very hard for decades on systems and processes and a high quality network then I believe in most cases there is no issue monetizing that knowledge. I will say the multifamily market is flooded with people all doing educational stuff. It has almost gotten just as bad as flipping companies that go across the country. The educational companies tend to make money and then plow it back into hard real estate assets.
I think it is almost a pipedream for people to expect someone highly successful to spend all this time with them for a nominal return. The example I gave above making 1,500 for 50 hours time at 30 bucks an hour. WHY would I do that when I can close a transaction in that same span of time with a client that pays 80k to 100k?? I would lose money going backwards in income working on such stuff.
If people have time but limited money or are not willing to spend the money then on Bigger Pockets here if you go search and read topics there is a lot of gold in there. When I started I read on this site like crazy,read books at Barnes and Noble bookstore, went to association meetings, etc. If people instead want everything wrapped up into a nice little bow and presented to them with less work then that comes at a PREMIUM to pay as the people that created that put a ton of work into developing those systems and processes. Sometimes a local investor might take an interest in a new investor but even then their time is valuable so they might can answer the occasional question but if someone wants constant help they do not typically have time for that. Now it is rare but occasionally you can find an investor nearing retirement that wants to leave a legacy of their knowledge to someone else and help someone out. You can't be marginal though they have to usually see something really special in that investor starting out where they feel their time is well spent educating them and bringing them along.
I think newer investors type people just have a very skewed idea of how this stuff typically works.
35 Replies
- Investor · Saratoga, CA · Member since 2015 · 21 posts · 4 votes7y
Hi,
I just bought the bootcamp course plus access to their tool for $1495.00 (I have 30 days to return and most likely will return the purchase). What attracted me was the option to get 100% financing on multi-property deal and get the acquisition fee ( even if I don't own any equity partnership). I have broker contacts in some cities that can point me to multi property deals. However, something in this plan is not sounding right. Would like to get some feedback on the while multi family property acquisition fee deals.
- Member since 2019 · 1 post · 0 votes7y
@Vee L. I went to Than M.'s 3-day bootcamp few years ago, also had lot of up-sell. If I recall correctly, their mentorship program was around $20k. I also went to Robert K's Rich Dad seminar last week and Dave L's RE Mentor yesterday. Got good info and education from both, but did not sign up for their 3-day bootcamps. Rich Dad one only cost $495, and you can take additional stocks/options trading class for another $195. Rich Dad one is focus on wholesaling, asset protection, etc. So it is different training from the RE Mentor's multi-family investing.
All those bootcamps give you good education, but not enough for you to go out to get multi-family deals done by yourself. YouTube, local REIA, podcasts, and books should provide you with similar types of education.
- Developer · Dana Point, CA · Member since 2018 · 1 post · 0 votes7y
I just attended RE Mentor workshop. A lot of the information that was presented I had already acquired on my own. However, I was not expecting comprehensive or technical information to provided at the workshop.
Like Usha Ramaswamy, I too was intrigued by the idea that MF deals could be financed through RE Mentor network (not to mentioned the 3 - 5% acquisition fee, a share of the monthly cash flow, and equity on the property.) However, I did not sign-up for the 3-dayboot camp.
- Member since 2019 · 1 post · 0 votes6y
I just went to the 2 hrs seminar. Paid the $1495 for the bootcamp. I'm the 2 hour seminar the instructor said that you will have access to investors that will fund your deals if the meet certain requirements. Also that there is a person at their main office that her job is helping you match up deals to investors. Before the bootcamp we called main office to answer some questions. Found out none of that is true. They only teach you mostly by the bootcamp and online videos/audios. So they really have no value to their bootcamp. You can learn how to do investing all online. The missing and needed part is a network connection to investors will to lend you the money. Again office said they don't do that....... So there whole program is worthless.
now I'm reading the bootcamp is just to sell you more expensive training. But if they still don't link you with investors able to lend you money..... Why would you throw away more money on training that you can get for free.
Bottomline it's just another gimmick to get your money.
- Member since 2019 · 1 post · 0 votes6y
My partner and I attended the seminar . We bought the package and are attending the 3 day boot camp . I’ve read that it can be informative for newbies but they also try to upsell coaching , To date We’ve only done 1 single family investment . Looking forward to the boot camp but skeptical .
- Rental Property Investor · Charlotte NC · Member since 2019 · 306 posts · 183 votes6y
Originally posted by @Vee L.:
Hi all,
I know people that went to Dave Lindahl's trainings and spoke highly of the program. I'm looking to pay $1495 for his 3 day bootcamp. However, Lindahl himself is no longer teaching these classes. Has anyone been to the new bootcamps that are taught by others. What do you think? Was it worth it? Thanks for sharing.
I am in a private mentor program. I have been to a lot of conferences this past year. I can recommend some conferences based on your needs.
- Member since 2019 · 1 post · 0 votes6y
@Vee Lee, if you attended the boot camp can you tell me about it, thanks.
- New to Real Estate · Seattle, WA · Member since 2021 · 3 posts · 2 votes5y
Originally posted by @Robbie Reutzel:
They're not bad. You'll get a good background. I've been to several. Dave hasn't been teaching them for a while now. Realize that a lot of the bootcamp is an up-sell to the $50K coaching program.
I'm not as negative on coaching as some are around here but that's obviously a high price-point.
Good luck!
- New to Real Estate · Seattle, WA · Member since 2021 · 3 posts · 2 votes5y
Actually I bought their coaching program. They have several tiers of coaching that you can choose from. The most you pay is $25k. It is a lot so I went with less costlier one with the option to roll rover to the higher tiered program. From what I heard, the coaching program is well worth it if you are very serious about taking your RE investing to the next level. I would recommend coaching, even from a different company, as you will really learn in & outs of the business.
- Realtor · Oakland, CA and a Real Estate Investor with Multi-Family Units and a Self Storage Facility · Member since 2016 · 2k+ posts · 2k+ votes5y
A colleague of mine bought the 3 day boot camp that Tyler Deveraux teaches. It's going to be this weekend in Sacramento. Apparently he used to be one of the teachers of Dave's program. She invited me to go with her and I said, "Sure, but I'm not going to buy anything." She said, "Well I already paid $995.00 for the bootcamp so you can go as my guest.
Now here's the kicker. RE Mentor also has a 3 day bootcamp, this weekend coming up,....for $1,495.00. I wonder if they are "competing" against each other :-)
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