Has anyone utilized the 100 percent financed Multi-family Acquisition Program? Apparently they assist walking you through finding deals, financing them/obtaining business credit, and closing the deal...
be careful.. Grant Cardone (fraud) Brad sumrok is like lifestyles, I like Joe Fairless his website syndicationschool.com is free and well done enough then you can guide yourself and go network without paying 30-50k to join a BS program
be careful.. Grant Cardone (fraud) Brad sumrok is like lifestyles, I like Joe Fairless his website syndicationschool.com is free and well done enough then you can guide yourself and go network without paying 30-50k to join a BS program
There are a lot of folks that do not approve of Fee Based mentorships. They are not for everyone; if you have access to knowledge, contacts, money, and properties, you don't need a mentor.
But joining a good Mentor and Networking group can be advantageous if you are missing any of the needed components. I had some money, but knew little about RE and had no access to sponsors and properties in 2010 when I met Brad Sumrok at Lifestyles. We followed him to his group. Both Lifestyles' and Brad's training was/is excellent. Brad wisely built a network which has allowed me to enter 40+ deals with dozens of sponsors. In short, my membership fee bootstrapped me such that I have more than doubling my net-worth.
I haven't tried others, so I can't tell others are better or worse. I will suggest that a seminar that sells training materials only would not have helped me. And I much prefer a group where the members are also getting rich (not just the organizer).
I am not paid by Brad! I am simply an "active" passive investor.
BTW, I am reading Joe Fairless' BEST EVER book and enjoying it.
Like @Charles LeMaireand @Justin Kane mentioned Joe Fairless and @Theo Hicks have a great book that goes over every step of the process on how to become an apartment syndicator.
Are you looking for a more active or passive approach?
I have listened to many hours of 馃挴 Financed with Juan Pablo. While I鈥檝e enjoyed the podcasts, I鈥檝e always wondered how legitimate his coaching program is. He seems very knowledgeable,
@Mike Taravella, as of right now I am just getting into the world of real estate so I am leaning towards a passive approach. I've done a fair amount of research, reading books/listening to podcasts to the point where I feel I could take an active approach, but I am currently in the military so I don't want to over-exert myself starting out. I'd like to get a few properties in my portfolio, continue to network and learn the game and then transition into finding, funding, rehabbing and closing my own deals.
@Brandon Dixon starting out by passively investing in apartment syndications is a great approach, especially if you have a full-time job. Soak up as much knowledge as possible (i.e., asking questions, reading through the documents, etc.) and continue educating yourself via books and podcasts so that you can leverage that expertise to do your own deals in the future.
I have been in the 100pF MAP Program since December 2018. I currently have a 11 property portfolio under contract for a few months now with no closing date in sight. We are working with a seller from Hell. At this point i'm extremely frustrated but still hopeful that things will turn around. Will be posting my Journey with the program soon.
@Patrick Hendley I would love to continue to hear about your progress. I recently hired them to clean up my credit with the intention to take a serious look into the MAP program. I spoke to Rashad and asked how many people are currently enrolled. I believe he said around 250, which seemed to be a lot given the small market they鈥檙e investing in, and the man power it would take to produce that much deal flow while servicing clients.
P.S. I am a complete rookie zero experience, zero properties and highly determined to get into multi-family investing. These are just some of my thoughts and concerns.
@Brandon Dixon did you sign up and started with 100% Finance with Juan Pablo? @Patrick Hendley was wondering how it went on your deal, I am undecided if I should Join100% Percent Finance, Juan Pablo. Were I am getting disappointed is the lenders for Commercial say you need 20% down payment (I don't have that) and when I tell them if I could have Seller finance in the same deal, was told no. Lender won't allow it. So I am back to square one. Just hear a podcast dated 02/14/2019 were Juan Pablo said he did a multi family 100% Finance and seller holding a note. pod cast titled "stop wasting time with residential mortgages! Commercial is the way." Have you encounter this on DP for Commercial? Thank you for your post. Maria Baksh
Mark Dorsey,
The 11 unit deal unfortunately fell through due to seller not cooperation, now back to square one. I lost over 4 months worth of time in deal, $2,425 inspection fees but hoping for refund of $450 back from the inspector. He said he would send refund check but have yet to receive as of this post. I was refunded my $2000 EMD. The be honest my experience hasn't been all that great so far. 100PF is currently looking for another deal that meets my available finances. Note: finding bank to finance deal seem to be more difficult than I was lead to believe. I was told initially that commercial deals(5 plus units) were based more off income property is producing than personal credit/finances but that's not entirely true. Maybe that's true if you already own a multifamily property or two. I agree 250 MAP clients is a lot, even in a city the size of Pittsburg.
Patrick Hendley,
Sorry to hear it did not go through. Usually when they don't cooperate it means they are hiding something, so it might have been a good thing, in the long run.
Talk soon,
Maria
I started with Juan Pablo 100% financed and so far it has gone well. I started off getting the business credit. First of all, my personal credit was a very good at 735 midscore. 100% financed tidied it up just a little bit more with just cleaning up a couple of things on my credit. When I went into business credit I did receive business credit. But it was not the amount I thought I would get. I was getting ready for a second round and a family emergency came up. So I have stopped at this time. So far, my experience has been good with Juan Pablo 100% financed. I would say they are a good company to go with.
Hope the family emergency is well God's Blessing for you and your family, thank you for the positive feed back with JP 100% finance. Good wishes for a successful future.
#Gina Williams hope your family is okay. Question, have you gotten a multifamily unit yet? Was the business credit enough to put towards a deal? Can you pull the cash off the business credit card?
@ Patrick Hendley - Like James, I would also love to hear any updates you may have regarding Juan Pablo's MAP program. Was the company finally able to secure a deal for you? I've been following him for a while (read his book, continually listen to his podcast and youtube videos, etc.), but would be interested to hear testimonials from you and others on their experience before reaching out to the company.
Has anyone utilized the 100 percent financed Multi-family Acquisition Program? Apparently they assist walking you through finding deals, financing them/obtaining business credit, and closing the deal...
I have and they are a complete waste of time. They outsource their credit repair program to a third party vendor who has very minium knowledge on the matter of credit repair. Long story short my credit score increase 5 points after being with them for 6 months, I took 'FREE' advice from another recommended credit repair company and my credit score finally began to increase
Updated - I've been in the 100PF MAP program for over a year now, still have not secure my first multifamily unit. Placed another 8 unit portfolio under contract in early March, unfortunately contract expired on April 23rd, couldn't secure favorable loan terms that wouldn't allow portfolio to meet cash flow numbers because banks changed lending practices due to Coronavirus pandemic. Seller was not willing to extend contract or accept creative financing options. I lost another $1000 in inspection fees but should get back $2000 earnest money deposit. So far this journey has cost me over $22,000, still without a cash flowing multifamily property...to say the least I'm extremely disappointed and frustrated.
Thanks Patrick Hendley for your post. I watched Juan Pablo鈥檚 video but it just seemed like it was too good to be true. To me it seems like a scam & these posts here confirm that. I definitely don鈥檛 need credit repair as I have excellent credit. I was interested in how he was financing deals to get apartments & multi unit real estate deal without using his own funds. I think the moral to the story is always do your own research & utilize places like your local real estate investor associations where there鈥檚 a wealth of knowledge for free, without the costs associated with a program like this.
Hey, thank you all for commenting. I really appreciate this thread for I read everyone's comments.
Please keep in mind investors, not every deal that you place under contract will close - that's just the nature of the beast when it comes to investing.
Why is that? Well, there are multiple moving pieces. At times, the seller may back out, you may not get financing to go through due to changes of lending practices due to (Covid19). However, as investors, we keep going and iterate as we go along.
Speaking of iteration, allow me to share with you the iterations and processes we go through in our Multi-unit Acquisition Program: After a client gets pre-approved for financing, we go through multiple deals to find the best ones that meet our metrics. Then, we share them with our clients. If the client wants the deal, we proceed with getting it under contract. While under contract, we perform due diligence and there will be some soft costs incurred. As you probably read through the comments on this thread, there are many moving pieces, costs, and folks involved in this transaction.
However, our goal is to help 100k investors obtain financial freedom - hence the reasons why we provide many videos, podcasts, programs, and services to help with this journey.
Unfortunately, we cannot promise that every deal we help you get under contract will close. However, if a deal falls through, we'll keep searching for more deals until you get one closed. As you can see, not every deal closes or is a 100% smooth process. If anyone on this thread is an investor, please let me know if you closed 100% of the deals you put under contract.
I'm sure the answer is an emphatic "No". However, did that stop you from moving forward? Absolutely not. More than likely, you were relentless in your pursuit and persisted in the midst of temporary setbacks. If investing in real estate was easy, everyone would have passive income. Plus, you have to pay the cost to be the boss. Do you think every investor made a 100%+ return on every dollar spent? Is it possible that at times you lose money (such as soft costs - paying for property inspections for example and the deal ends of falling through)? The key is, that you win more than you lose.
Patrick, please share whether we worked diligently on your behalf or not. If not, please share how we can do right by you. Additionally, please share if this was a scam or not. If you think doing business with us is "too good to be true", then please do additional research. Please don't call it a scam as a result of one client in our MAP program had deals fall through at no fault of the program itself but because of the seller and financing.
Last thing I'd like to discuss is the credit repair comment. At times, we outsource as a result of time constraints or to leverage someone else's expertise. In real estate, I don't change locks, screen tenants, evict tenants, inspect properties, or finance my deals - I have property management, property inspectors, and mortgage lenders that do this for me (outsourcing). However, if you didn't get the results you're looking for, please contact me so we can help and do right by you.