Peter Harris - Commercial Property Advisors

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Peter Harris - Commercial Property Advisors

Richard Bayle
Niceville, FL · Member since 2016 · 6 posts · 5 votes

Hi BiggerPockets community,

I have spent some time and been successful in the residential market (flipping homes) and wanting to diversify my real estate investment portfolio by venturing into rental apartments.  I know that the world of residential and commercial are two completely different animals so making the transition is really scary and intimidating.  I started doing some research and happened across Peter's website and founding myself watching all of his video's on youtube - which I have really liked and liked the idea of his mentor-ship (ie: protege) program.  I think he does a great job explaining and keeps it interesting.  After doing some further research on BP and Google, I have come across some forums that talk about Peter with mixed reviews (for the most part positive) but I have not seen any that talk about actually signing up with his protege program.  Does anyone have any thoughts about the protege program?  Is it worth the investment?

Like I say, I am a newbie to commercial any feedback, advise or direction you could provide would be great,

Thank,

4Reply
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Michelle Bueno
Member since 2019 · 3 posts · 16 votes
7y

Hello I know this is kind of an old thread now, but I just wanted give some feedback on his protege program. I took a leap of faith investing my time and money into it, however I have no regrets. I'm still fairly new only about a month into it, but so far it all seems like a pretty legit operation. I have a solid curriculum to follow and I get 2 coaching a week with Peter practically unlimited. The way the program works is you put a minimum of 10,000$ down to prove that you are just as involved in this as Peter and his team are. Then you get set up with this incredibly complete, user friendly REI software called epartner. You are given about a week or 2 to become familiar with the software and then you get a 1:1 call with Peter Harris for a strategy session to figure out how he is going to be able to help you in your individual situation. You have so many tools and resources with the software and you basically get your hand held through the entire process of finding a deal, making an offer, closing and so on. The catch is you have to split your profits with Peter 50/50 until you reach 500,000$ profit, and once you have made that mark you get a check written to you for the initial 10,000$ you used a kind of collaterol. At that point you can choose to end your professional relationship with Peter and his company or you can choose to keep him as business partner for future deals and have access to all his resources such as investors, lenders, etc. Because I have no capital to begin investing my own money, Peter is going to teach me how to wholesale and build up revenue to eventually invest in a commercial property of my own to buy and hold. He is a really good teacher. He's patient and kind and transparent. I personally am looking forward to what doors this protege program will open for me. I hope this helps anyone who is considering his program, and good luck to you on your journey!

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  • Steve Dye
    Investor · Eau Claire, WI · Member since 2015 · 25 posts · 14 votes
    6y
    Originally posted by @Anthony Dellascio:

    @Michelle Bueno @Ron West @Thomas Kang @Jason Matthews @Neyva Raya

    You all are folks that stated that you've entered this program so I have a few questions:

    • Have you made at least your initial investment back?
    • Have you bought any properties?
    • How long have you been doing it?
    • How far along are you to fulfilling the initial agreement to get the 10k back?

    Hmm not a good response rate.  Though hard to know if that's effort related or program related. 

    0Reply
  • Jason Matthews
    Member since 2018 · 2 posts · 4 votes
    6y

    I have not recouped my investment yet. I know I will after I close some deals. I am in the process of placing two offers on two apts. I  attended a couple local commerical real estate meetings and when I left I felt great about the knowledge and guidance that I have been getting from Peter and CPA. From starting last fall to now I have made major progress in the business. I have no regrets.

    4Reply
  • Ron WestPro Member
    Endicott, NY · Member since 2018 · 11 posts · 13 votes
    6y
    Originally posted by @Steve Dye:
    Originally posted by @Anthony Dellascio:

    @Michelle Bueno @Ron West @Thomas Kang @Jason Matthews @Neyva Raya

    You all are folks that stated that you've entered this program so I have a few questions:

    • Have you made at least your initial investment back?
    • Have you bought any properties?
    • How long have you been doing it?
    • How far along are you to fulfilling the initial agreement to get the 10k back?

    Hmm not a good response rate.  Though hard to know if that's effort related or program related. 

    I have not made my initial investment back yet, but we only really started in September (5 Months). One deal and I have it all back. I have a building under contract and just did the inspection yesterday. If the financing comes through then its a done deal. Due to Peter's methods, we have made contact with tons of motivated sellers. I had 2 deals fall through because the owner didn't file taxes, without Schedule E's it is impossible to get favorable funding. There are at least 3 other properties that we could make offers on but I wasted my time on the 2 that fell through. Now we are about to circle the wagon and see if those other 3 are still available. Also, we are starting another wave of marketing, so leads will be aplenty. 

    If you are working with Peter and failing, then it's due to effort or market. His instructions are clear. He lays out a plan for success but it's up to you to follow it. It takes time and effort like anything worth pursuing. 

    5Reply
  • Felicia Murphy
    Real Estate Investor · Hickory, NC · Member since 2010 · 4 posts · 2 votes
    6y

    Hi, I am also interested in the Peter Harris program.  Can anyone tell me if it's true that there is also a monthly fee in addition to the initial $10,000 that you have to pay?  And does he help you find financing if you don't have any money for a down payment?

    0Reply
  • Dan Wentworth
    Investor · Louisville, Kentucky/ Southern Indiana · Member since 2020 · 36 posts · 19 votes
    6y

    I too was intrigued with the Peter Harris protege program.  I submitted my email address to inquire about it.  I don't think 24 hours went by when I got an email from someone in the organization to setup a call.  I was surprised because they portray it as such an elusive program/opportunity.  I mentioned I got introduced into the world of investing with a Carleton Sheets program 20+ years ago.  The guy that called actually worked for the institute that marketed the Carleton Sheets program & described how this place was much different as they provide more support. The guy was nice & seemed genuine, then he said the next step was to setup a call with his boss & they required my wife to be in attendance which I thought was strange but later I realized why as they were wanting money & trying to close the sale.  All was going well until I started asking too many questions & diverting him from his script:)  As the call went on I felt more like I was in a timeshare presentation.  I'm not opposed to paying for education but was thrown offguard as they didn't not set my expectations & I didn't think I would feel so much pressure.  I was not impressed as they would not provide any references for reviews, they sited privacy concerns, which I thought was unusual.  That was a big red flag but ultimately it was the software licensing fee of $200 a month that was the final straw.  They tried to explain this was to use their Epartner software.  I didn't even get into how long I would have to pay this fee or if it ever ended, they had lost me at that point.  I politely explained I didn't think this program was for me as I thought the licensing fee was a little over the top.  I explained I'm a network engineer & am pretty familiar with licensing fees & the open source (aka FREE) options that are available.  His tone on the phone changed & he told me I was not qualified to say that & then he ended the call.

    The below summarizes the program & money they asked for, there were 3 levels of entry:

    30k gets you (12 private one on one calls with Peter Harris, 4 weekly calls supposedly as long as you are in the program) & there is also 20k & 10k entry points, each with less calls as described above.

    You split the profits with him 50/50 until you reach 1mil profit then supposedly they will pay you back the money you invested into the program.  I have my doubts that anyone reaches that plateau & can only assume your $200 monthly license fee continues until you reach that or quit the program but these are just assumptions at this point as I decided this was not the opportunity for me.

    8Reply
  • Isaac S.Pro Member
    Northern, CA · Member since 2017 · 49 posts · 25 votes
    6y

    @Dan Wentworth 

    thank you for the transparency with this program

    1Reply
  • Steve F.
    New to Real Estate · Oakland, CA · Member since 2020 · 7 posts · 4 votes
    6y

    @Dan Wentworth Your post was (unfortunately) the most informative and transparent answer in this thread to date.  I am disappointed because I was seriously considering the protege program after seeing how simple, straightforward and educational his ad-free Youtube videos were.  I was then getting retargetted ads following me all over the internet when I realized that the youtube ideas are probably a HUGE marketing funnel for leads.  Anyhow, I think I'll stick to finding another potential mentor and continue reading more books. 

    2Reply
  • Brian Gwozdz
    Member since 2020 · 8 posts · 1 vote
    6y

    @Dan Wentworth thanks so much for your review. It is the most honest and transparent review I have yet to see here on Peter Harris. I think I will continue to soak up his free info on YouTube then go from there. 

    0Reply
  • Daniel Cisneros
    Rental Property Investor · San Jose, CA · Member since 2017 · 27 posts · 5 votes
    6y

    Hello everyone, thank you all for the great shared information, I'm also considering this program and your personal experiences are definitely very valuable!!

    0Reply
  • Jay HinrichsBusiness Member
    Real Estate Consultant · Summerlin, NV · Member since 2014 · 45k+ posts · 66k+ votes
    6y
    Originally posted by @Dan Wentworth:

    I too was intrigued with the Peter Harris protege program.  I submitted my email address to inquire about it.  I don't think 24 hours went by when I got an email from someone in the organization to setup a call.  I was surprised because they portray it as such an elusive program/opportunity.  I mentioned I got introduced into the world of investing with a Carleton Sheets program 20+ years ago.  The guy that called actually worked for the institute that marketed the Carleton Sheets program & described how this place was much different as they provide more support. The guy was nice & seemed genuine, then he said the next step was to setup a call with his boss & they required my wife to be in attendance which I thought was strange but later I realized why as they were wanting money & trying to close the sale.  All was going well until I started asking too many questions & diverting him from his script:)  As the call went on I felt more like I was in a timeshare presentation.  I'm not opposed to paying for education but was thrown offguard as they didn't not set my expectations & I didn't think I would feel so much pressure.  I was not impressed as they would not provide any references for reviews, they sited privacy concerns, which I thought was unusual.  That was a big red flag but ultimately it was the software licensing fee of $200 a month that was the final straw.  They tried to explain this was to use their Epartner software.  I didn't even get into how long I would have to pay this fee or if it ever ended, they had lost me at that point.  I politely explained I didn't think this program was for me as I thought the licensing fee was a little over the top.  I explained I'm a network engineer & am pretty familiar with licensing fees & the open source (aka FREE) options that are available.  His tone on the phone changed & he told me I was not qualified to say that & then he ended the call.

    The below summarizes the program & money they asked for, there were 3 levels of entry:

    30k gets you (12 private one on one calls with Peter Harris, 4 weekly calls supposedly as long as you are in the program) & there is also 20k & 10k entry points, each with less calls as described above.

    You split the profits with him 50/50 until you reach 1mil profit then supposedly they will pay you back the money you invested into the program.  I have my doubts that anyone reaches that plateau & can only assume your $200 monthly license fee continues until you reach that or quit the program but these are just assumptions at this point as I decided this was not the opportunity for me.

    love it split 1 million..  ya your on the right track suspect like a MLM pyramid very few get there.

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    1Reply
  • Marc Stewart
    Real Estate Investor · Oklahoma City, OK · Member since 2017 · 6 posts · 4 votes
    6y

    Hello guys,  any recent positive or negatives on this program? I am still debating. I would like to hear from you guys who are involved.

    Marc

    0Reply
  • Maximo Hernandez
    Member since 2020 · 1 post · 0 votes
    5y

    10k up front, and then split your earnings 50/50.  NO way José? 

    0Reply
  • Derrick Watkins
    Specialist · Stamford, CT · Member since 2015 · 19 posts · 9 votes
    5y

    @Dan Wentworth Thanks for your review ! 

    0Reply
  • Christine Tolchin
    Member since 2021 · 7 posts · 1 vote
    5y
    Originally posted by @Jae Ham:

    @Richard Bayle I too have the same predicament! I also started watching a few of Peter Harris's videos. They seem straight forward which I liked. I am currently seeking out professionals willing to consult each deal with me for certain agreed compensation. Hopefully, this would create a good relationship and maybe even a partnership but most importantly, break into the commercial world! Maybe we can share??!! Idk, just weighing my options. 

    @Jae Ham, did you find any consultants willing to assist you for a fee?  If so, how did you find them?

    0Reply
  • Ali Attaran
    Investor · Dallas, TX · Member since 2021 · 6 posts · 1 vote
    5y

    I had my first interview for the protégé program with Peter harris. Split 50/50 is fine. but The guy interviewed me was very pushy to get me on board. I told him that I am not ready yet, and I want to learn more. But he kept pushing, and saying that they don't hold my application until I decide. Their program may work for some people. It seems there are some success stories that they brag about. But what percentage of their students actually are successful, I don't know. 

    I don't like to be rushed in making decisions. I will probably pull out and not have the second interview. I am trying to learn as much as I can on my own. Once I see that it makes sense to find a coach, I will try to find someone who does real estate for living not coaching!

    1Reply
  • Madhu Vamsi Machavarapu
    Member since 2021 · 1 post · 0 votes
    5y

    any other students who have actually hit $1,000,000 and were able to recoup the initial investment?

    0Reply
  • Michael Plante
    Deland, FL · Member since 2017 · 2k+ posts · 1k+ votes
    5y

    Anymore feedback?

    0Reply
  • Craig McIlwain
    Member since 2020 · 1 post · 0 votes
    4y
    Quote from @Michelle Bueno:

    Thanks Vlad I will definitely keep everybody up to date. 


    Michelle, how’s the program going? 

    0Reply
  • Jeremiah Myers
    Rental Property Investor · Washington, DC · Member since 2020 · 2 posts · 4 votes
    4y

    Great thread, thanks all for the contribution. I'm considering the program as well. While, I am definitely taking into account the hesitancies called out, I do see that everyone who has actually put their money on the line and has attempted to do the program has said nothing but positive things and have no regrets. I think that's the most valuable takeaway for me.

    4Reply
  • Kevin Taylor
    Gwynn Oak, MD · Member since 2016 · 4 posts · 8 votes
    4y

    I know this thread is very old now, but I did not move forward and pretty much regret it. Logging into bigger pockets and seeing my positive outlook and then calling them and finding out that it was $8000 at the time, just to begin learning was a shock to me and I did not move forward with it, especially knowing that they were going to take 50% of each deal I did. Looking back on it, I wish I would've moved forward with it because 50% of something is better than 100% of nothing. I've done zero commercial deals since and maybe if I would've moved forward I would have a few under my belt. If there are any other Commercial Property Investment Learning opportunities that anyone else knows of, please let me know. 

    Thanks. 

    3Reply
  • Tanh Truong
    Investor · Cincinnati, OH · Member since 2018 · 136 posts · 87 votes
    4y

    I know nothing of Peter's program, but I am a part of a mastermind/coaching program of investors all learning commercial real estate. Our mentor has over a decade of experience and shares a lot of knowledge. 

    0Reply
  • Nan Arrington
    Member since 2019 · 2 posts · 0 votes
    4y

    @Tanh Truong

    Can you provide information on this program/mentorship?

    0Reply
  • Rhondalette W.
    Dallas, TX · Member since 2014 · 517 posts · 106 votes
    3y

    @Michelle Bueno Hello Michelle, a few years ago you posted about joining Peter Harris’s protege program. I am wondering how things worked out for you. We’re you able to wholesale or purchase any property?

    0Reply
  • Rhondalette W.
    Dallas, TX · Member since 2014 · 517 posts · 106 votes
    3y

    @Ron West hey Ron, did you decide to join Peter Harris protege program? Trying to learn more.

    0Reply
  • Rhondalette W.
    Dallas, TX · Member since 2014 · 517 posts · 106 votes
    3y

    @Thomas Kang, did you decide to join Peter Harris protégé program? How is it going?

    0Reply
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