If any one else has questions on M1 I'd be happy to answer them as a newly minted member.
Disclaimer: I have never heard of M1 and I am starting out in RE.
Short answer. I would not spend $700/month for access. I do not know your financial situation, but what is $700/month to you?
If you decide to spend $8,400/year on this, how will you determine if you are getting a good ROI?
Definitely keep us posted on your experience.
@Noel R. Have never heard of this program either. But I've heard of others that sound similar. The reality of the situation is that your network is your network because you work well together. Just because another real estate investor has success working with a particular company or person does not mean you'll have the same experience. Everyone has different personalities and ways of doing things. Have run across this issue several times when getting referrals from other real estate investors. Sometimes it works while others it does not. It's just a matter of personality. Personally, I started off getting referrals from other real estate investors when building my team but eventually found and added my own people to my network over time. Good luck with your decision!
Sounds like an amazing cash flow machine - for him. $700/month from each member that requires very little work on his part. The perfect system...
Originally posted by @Chris Seveney :
What is the added value your getting. If it’s networking then why pay $700/month Go to local REI groups and network.
Dont know what this is .. but high level masterminds tend to run 10 to 20k a year.. I have been to one.. then i sent my 20k in then I got the list of members and decided was not for me.. the nice thing is they just sent my 20k back minus the 1k i spent for the 2 day event i went to... for many its probably worth it .. for me is was too heavily slanted with guru's and wholesalers.. and others that i did not care for their business practice .. but if i wanted to enter the pay to play business I think it would be worth the 20k a year to network with those dudes.. but not my bag
I find it sad that some criticize M1 without even knowing what it is. A great coach may cost at least 20k. I just want to know what I'm getting in return. I have a couple of clients that are members of M1. They tell me they get more in return in value than they pay. That's it for me when I evaluate a program. They aren't just a networking group, it's life coaching. Remember, we are the average of the five people we spend the most time with. If you don't have a great, uplifting, and encouraging group around you then tapping into a program like M1 can yield serious results. If I get say 10x of return then I don't really care the cost, I'm paying. Rock's program won't stay around long if he doesn't deliver value, period.
I took the time to check out his site as i was curious.. and its a mastermind.. what i think could add value is that the frequency is there to keep someone on track.. the mastermind i went to is just quarterly then you hook up on facebook and facebook is basically showing all the members and their wives on the latest and greatest world trip they took or the building they just bought.. not a lot of real help for someone trying to get from here to there.. i think in that group most of them had on going business's like myself and there is fine tuning being done IE how to run a staff how to implimnet VA's how to run your sales crews .. other types of marketing ideas and tips..
this one looked to be not quite as real estate centric but I could be wrong as he had to add in passive income which of course is the buzz word for most who think that is what is going to create a better life for them ..
But it seemed to also be life coach ,, health and fitness , personal relationships etc etc.
I would think most beginners in real estate who have not done a deal or many deals.. this type of thing may be too advanced .. not sure.. but for those that are looking for next level like to interact and want to talk to someone weekly like they say they do.. could be a good thing.. as long as the so called life coachs that take the weekly calls are not sitting in a call center in Utah reading from a script.. like the TV fix and flip guru mentors.
Originally posted by @Noel R. :
@Chris Seveney Going to local Rei is far from high level networking. Meet ups are great and maybe with a mindset shift I could benefit more from them. They have yet to lead to finding a mentor or deal. The other issue is they happen once a month and I'm not always able to attend. I will report back in a week or two when I have a better grasp.
your average RIAs i agree with.. there are some better ones Like FIBI in LA or Rarebird in Portland.. BP meetups for instance is mainly an excuse to have a beer and maybe happy hour type conversations.. i hosted one and went to one.. No more personally I found them a waste of time.. I did a presentation at Bobby Sharma's SF group that's a good group i think there is some good networking to be had there..
On the specifics of this 700 a month program.. its small money and if you get inspiration from it then by all means.. but so many ( not saying you of course) will go into credit card debt for this stuff.. that's no beuno ..
So my conclusion is if you have Means to transact this is probably just as good as any of the masterminds out there.. but if you are thinking by joining its going to bring you investors to help with deals.. not sure about that.
Also keep in mind all those that equate this to buying a rental house are very focused on one thing and that is being a landlord and being landlord and buying rentals basically takes no special talent or knowledge other than basic math and ability to buy one.. not everyone wants to be a landlord.. there is a whole bunch of real estate that does not include landlording.. or landlording at small SFR levels so take those comments with a grain of salt those investors basically focus on that one thing and that is buying the next rental to increase their cash flow by 200 a month..
Originally posted by @Jason D. :
@Nick Kosko it's a life coaching program like all of the others.... "you are the average of the 5 people that you hang out with" is complete BS and just guru talk. Everyone has different goals so what does "average" mean when comparing people? It's my opinion that these guys feed on people that need direction, feed them a ton of feel good stories, and all of a sudden, you'll be successful, just like them. I'll give you the secret to success, and if you truly follow this advice, you'll be happy and successful in life, whatever that is for you.... Dont care about what other people are going to think. That's it.... if you truly dont care about impressing or failing other people, you'll be happy and successful. You'll take risks without the fear of disappointing someone, you'll try things without caring what others will say. You'll strive for goals without worrying what someone will say about them.... that's it.
I do agree there is many of the common buzz words .... and i do agree if you are not already up and running most of these guys are not going to get you up and running by just taking their course.. However those that are .. i see this stuff as fine tuning and there is network opportunities for those doing deals.. but it cant be Hey I am just a beginner and i have no real capital and just because i am part of the club you should do deals and include me.. does not work that way. If you look at the MF mentor guru's they have one thing in mind when you do a deal with them YOU ARE ALREADY accredited and have 100k or more to invest in their deals and the money to buy their course.
the beginner fix and flip gurus and wholesale gurus like to take those that dont know much about the business and teach them how to do it and of course we know the success rate for those with no experience taking those courses is minute but the folks feel good being a part of the big events..
Now to be fair at the Mastermind i went to.. I did meet my target client.. IE experienced and looking to grow and i funded 2 deals for him.. that right there will pay his yearly fee to that mastermind and I might actually through my involvement in his business take him to the next level.. and it paid for the 1k I paid to go.. In all honesty by the time the folks got there they are more qualified than most all of anyone who hits you up on BP that are beginners..
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