Experience with Fortune Builders?

Question

Disclaimer: I Know very little about Fortune Builders, both from a product perspective, and as a company.  I have nothing to gain from this except satiating my curiosity.

That said, I've met a number of people who signed up with FB, paid seemingly outlandish fees ($10-50k), attended the seminars, and are now doing very well.

I asked one guy I'm working with what was different about them versus others, since he had tried a number of different companies and wasted a lot of cash doing so.  He responded "They really walk you through the entire thing and help you create a real plan to succeed...they hold your hand until the end..."

I'm only posting this because I have not come across another company/group that is showing consistent success, so I'm wondering what in the world these people are doing differently?

I once believed that gurus are like exercise machines: they all work if you actually do it!   Except no one really does, and the thing ends up rusty in the garage.  But I don't believe that to be the case anymore with all gurus because I know people who have attended other speakers they've heard on the radio, etc, and it has been a total waste of time and money.

I'm a skeptic by nature, so I understand the dismissive attitude toward the "gurus" on this site/podcast, and it's for-the-most-part warranted, but it does make me wonder why FB would be different.  Or is it not?

Scot Howat · Answer

I'd rather do a deal and lose money, than give my money to any real estate education company.  Doing a deal is going to teach you way more than any other way.

Find a mentor and do a deal.

JD Martin · Answer

I don't know anything about Fortune Builders, but my take on "gurus" is this: for the most part, most everything they tell you is true or at least can be true (blatant lying could cause legal issues), most of the value is in the culling of information that's already available somewhere else for free or for cost, most of the high cost is because people tend not to value low-cost propositions, and most of the techniques/procedures are oversimplified, such that beginners quickly become discouraged and drop out or move on to something else. With a few exceptions, you probably cannot blame gurus for anything, as freedom of choice means you can spend your money or not. On the other hand, the exaggerated and sometimes outlandish promises should be seen for what they are - hooks.

As for BP, a good portion of the stuff on this site is free - and even the stuff that's not free is of nominal cost. Podcasts may mention books, courses, or other things, but the hour or so discussion costs nothing, and I've learned a ton from just listening to people that do things different from myself. Of course there is going to be some self-promotion here - partly to make a profit (why bother if not?) and partly to keep the lights on (there's a decent number of paid staffers that keep this place running). I don't find it obtrusive or obnoxious at all. The advertisements on this site are more driven by the popularity of the site than by the site itself, as products and services want to advertise where people will see them. Even the paid stuff on here is often partially free, i.e. the calculators. You get several uses for nothing, and if you want to run tons of scenarios, it's not unreasonable to ask you to upgrade to a paid membership to help cover the costs of the site traffic - because, I would assume, if you're running that many scenarios, you are probably doing this for profit.

I guess what I would say is that there's no free lunch with the gurus, while there is a free lunch here at BP. If you never become a paid member, you still get plenty of great, free content, while with a guru you're not going to get any content without paying. Even if that's just the $99 teaser rate.

Disclaimer: while I am a moderator, I was a paid member before I was a moderator and I've been a member here way longer than I've been a mod :)

David Weintraub · Answer

I get the feeling from perusing some of the 2000 threads on Bigger Pockets that BP Moderators don't particular care for "gurus" and Fortune Builders.

Coincidentally, I notice a lot of the threads have comments like "you should listen to the BP podcast..."  And while essentially that is free, BP is in fact pitching you advertisers, books, etc, of their own.  So it's not as if they're doing this for free, aye (I'm not Canadian)?

Then, of course, there are countless ads on the site, which BP I assume is hopeful we click on, and the keywords that lead to the ads I see all over the web, etc. etc.

So while the "gurus" may in fact ask you for money upfront, and some of them may in fact not be all-that-great, there's a profit motive regardless of whose perspective you choose.

To repeat, I have ZERO affiliation with anything Fortune Builders has done, or will do.  Have no idea who runs the company, etc.  Just kinda random that I can point to at least 5 people who have done other courses, and yet those same people who did FB are doing well now.  I'm assuming they're doing SOMETHING right, or different!

Carry on.

Roy N. · Answer

... Brie, I decided to let the gym membership lapse and just pitch-in and shovel a little snow ... every second day it seems ;-)

If you are motivated and a self-learner you can do absolutely fine without forking over the equivalent of a downpayment for courses.

That said, some folks learn better when material is presented to them in a formal setting (i.e. classroom) ... if this is you, I would suggest auditing real estate courses at a local college or university ... no sales pressure, a more in-depth handling of topics and the tuition will be far less (better value for the money).

David Weintraub · Answer

All fair points.

I've seen free meetups though.  They're also pitching products, usually themselves, myself no different, but in essence it is free.  Although, I'd not be so bold to call myself a guru.  Except at Fantasy Football, where I'm THE guru.

Brenda Wright · Answer

David, if you are a skeptic "by nature" then you have already failed.

You have chosen to spend time overzealously researching TRUE statements that might be masked with FAKE statements, instead of just doing it, failing, doing it and doing it until you drastically change the outcome of everything and anything you undertake.

Imagine spending all that energy on seeing failures in companies and then finding a better path and learning from them to better it.

Go to every single seminar, purchase everything on your credit card and ask for a refund/dispute at the end. The amount of knowledge and understand that you will gain is unparalleled. In the wise words of Art Williams "Just do it!"

Some video motivation: https://youtu.be/7R9c0RAz678

Yes, they are amazing, but you are your worst enemy in expanding your potential. Find out for yourself. Whether it was a bad or good experience, it will always be the fastest conclusion to a skeptics mind.

Brie Schmidt · Answer

@David Weintraub - this topic has been discussed often.  On the top right is a search function, you can type in "fortune builders" and over 2,000 threads will come up

I have never done it, but anything they teach you can find for free on BP

David Weintraub · Answer

So what you're saying is there are human beings who can succeed without using Fortune Builders?

(Mind Blown)

Brie Schmidt · Answer

@David Weintraub - You can do what you want.

I go to the gym and don't need outside motivation.  Some people pay personal trainers for their motivation.  Everyone is different and what works for some doesn't work for others.

I guarantee you that they do not teach one single thing that you cannot learn for free on BP.  But if you need the system laid out for you and someone that keeps you accountable, then go for it

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