Fortune Builders Mastery Program

24 Replies

Hi all,

I have purchased two single homes that I am currently renting. One in Mississippi and one in Alabama.

I am looking to get into rehabbing now. Based on the market in Montgomery there are a lot of deals to be made.

Over the next few years I will try to expand my business.

I recently completed the three day seminar with Fortune builders. Although the tools they offered are significantly developed it still did not feel like a $25,000 investment. I have read many reviews on the Internet about how Fortune builders is overpriced and seldom yields returns.

Has anyone joined the mastery program? Has it been worth it for you?

Thank you.

No direct experience with them as I am highly skeptical of the "guru" programs but will say I know one guy who paid the $25k and says it's a rip-off but also know a lady who is still in their program, flips houses and says she couldn't do it without them. I think it depends on you and your level experience. From my experience, limited as it is, I think there are many better alternatives to learn flipping and more sound investments for your money.

@Christopher B. If you don't mind elaborating, what would be some better alternatives? The reason I ask is because I am looking to get into a program like this in New Jersey, it's not Fortune Builders but it's a coaching program of 6 months that is about 15K, allowable to be split up to 4 partners. They provide the exposure, coaching, and aid you through the process of raising money, finding deals, due diligence etc.

Being a beginner and not owning any property yet, I have been reading a lot as well as networking and attending REI club meetups in the last couple of months. With so many experienced people in the field it is very overwhelming and I am looking to try to avoid making mistakes which I know I am vulnerable to making being so new. IMO, Even though the coaching costs money, I feel that if I'm going to do it, this seems like a way "to do it right" instead of stumbling around by myself and making mistakes, not saying I still won't make them but just trying to alleviate as many as possible. Although I have a good head on my shoulders and do not rush in until i do all the appropriate research, possibly investing in something that does not field maximum investment potential is something that is always in the back of my head. I feel since these are proven systems coming from people who have been doing this its a better way to get started, or at least a good foundation to get started having the confidence that you are using systems that work.

Would love to hear yours as well as other experienced investors thoughts and/or feedback on this.

Thanks.

This is an outrageous amount of money to pay for a course or mentoring when you get it here for free and can meet local investors/mentors in your home area for free or very little money.    It is designed to make the hosts of the course rich, not you.  

Do yourself a favor and find a realtor who also invests and can show you properties, and use that money for down payment on a property!   Take time learning how to identify a good deal, use the tools on Bigger Pockets such those under  "Analyze - Deal Analysis Forum" .    I would be happy to discuss more in-depth and offer guidance if you send me a message.  

@Lukasz Kukwa  @Imad M.  

Welcome. Fill in the foundation below before stepping into further training. When you complete below you will have a better idea of what you need.

Check out the Start Here page http://www.biggerpockets.com/starthere

Check out BiggerPockets Ultimate Beginner's Guide - A fantastic free book that walks through many of the key topics of real estate investing.

Check out the free BiggerPockets Podcast - A weekly podcast with interviews and a ton of great advice. And you get the benefit of having over 70 past ones to catch up on.

Locate and attend 3 different local REIA club meetings great place to meet people gather resources and info. Here you will meet wholesalers who provide deals and rehabbers.

Two Great reads, I bought both J. Scott The Book on Flipping Houses,The Book on Estimating ReHab Costshttp://www.biggerpockets.com/flippingbook

Consider checking out HUD homes for small multi's owner occupied gets first crack.

You might consider Niche or Specialized Housing like student housing. Rents can be 2-4 times more. Remember you don't have to own a property to control it.

Download BP’s newest book here some good due diligence in Chapter 10. Real Estate Rewind Starting over

http://www.biggerpockets.com/files/user/brandonatbp/file/real-estate-rewind-a-biggerpockets-community-book

Good Luck

Paul

Check out my recent BP blog post:


http://www.biggerpockets.com/renewsblog/2014/06/04...

@Account Closed

The 2 posts prior by @David Thomas

and Account Closed are perfect examples of why you don't need to spend $15k on a course. There's definitely value in a local teacher or mentor and you'll be able to find one for free if you're willing to teach yourself the basics first. Real estate, or baking a pie for that matter, can be as complex as you want it to be. Focus on the basic tasks like how to crunch the #'s first, become proficient, and then gradually work to build your own systems. It can be overwhelming and sometimes it's like drinking through a firehouse, but if you know how to run the #'s and do due diligence as thoroughly as possible mistakes will be building blocks and not critical blows.

Account Closed Great info you provided.  Thank you for breaking it down for everyone!

I agree! Thats a ridiculous amount of money to spend when you can use that money to invest. Definitely check out the local REI meetings. Get a sense of who's investing and what is working best for them. Do some research market research in your area and look for the areas that are producing the best ROI. Find a realtor that is also an investor as well. As a realtor/investor myself, I specialize in working with investors. I am more then happy to walk someone thru their first deal.

Just make sure you do your research!

I am aware of 2 investors that went through the training course and are doing very well. Not to say that it was because of the coaching. I do believe that in order to get to a certain level of achievement it will take the knowledge and resources of others to help you get there. I am not and advocate of coaching programs because I believe with tenacity and grit you will be able to find a mentor that will be able to coach you and teach you the ropes.

I found the group that I am partnering with by attending a free seminar and learning who were the key players in my area. Exchanged #s and I started finding deals for them and naturally it provided $ for them and for more. I am a strong advocate for bird-dogging not for making $ but investing in relationship building and eventually coaching.

"Enjoying the Journey"

This post has been removed.

This post has been removed.

Originally posted by @Account Closed :

@Lukasz Kukwa  @Imad M.  

Welcome. Fill in the foundation below before stepping into further training. When you complete below you will have a better idea of what you need.

Check out the Start Here page http://www.biggerpockets.com/starthere

Check out BiggerPockets Ultimate Beginner's Guide - A fantastic free book that walks through many of the key topics of real estate investing.

Check out the free BiggerPockets Podcast - A weekly podcast with interviews and a ton of great advice. And you get the benefit of having over 70 past ones to catch up on.

Locate and attend 3 different local REIA club meetings great place to meet people gather resources and info. Here you will meet wholesalers who provide deals and rehabbers.

Two Great reads, I bought both J. Scott The Book on Flipping Houses,The Book on Estimating ReHab Costshttp://www.biggerpockets.com/flippingbook

Consider checking out HUD homes for small multi's owner occupied gets first crack.

You might consider Niche or Specialized Housing like student housing. Rents can be 2-4 times more. Remember you don't have to own a property to control it.

Download BP’s newest book here some good due diligence in Chapter 10. Real Estate Rewind Starting over

http://www.biggerpockets.com/files/user/brandonatbp/file/real-estate-rewind-a-biggerpockets-community-book

Good Luck

Paul

 Hey Paul;

Thank you so much for your valuable information. I have done most of what you have suggested and am very pleased with the results from joining my local REIA as well making small purchases of E-books and on-line Webinar's.

Thank you again for such great advice.

I am new to investing as well. I attended a  3 day seminar of Fortune Builders. I am glad I did not invest money in their program. I am however very glad I went. It motivated me to do what I have always wanted to do. I have found so many LOCAL people and programs that are more helpful. The newest program I found is Score. Visit https://www.score.org. They provide FREE local mentoring for small business. I contacted them and met a local investor that I am working with for advise and mentoring. There is a team they have built for me. Tax specialist, realtor, accountant that I can turn to for questions. They are currently helping me build my business plan, forcing me to answer questions I did not even know to ask. 

Find programs like score, participate in your local REI's. Go to meet up.com and search for real estate investors, or wholesaling or flipping whatever you want to specialize in. There are meetings all the time. Make sure you have business cards and attend these. I am overwhelmed with these groups and the people who want to help. They help you, you help them. It's a win win.

I'm on my second day of their 3 day seminar, and so far I feel that the info they are sharing is VERY VAGUE.  They are setting you up for the $25K gank.  They use attractive people, people that look the part to manipulate your emotions.  Don't think for a second that these aren't the most highly trained con artists around.  They may be investors that have made money, but what they don't tell you is that the success rate at doing what they are talking about takes a lot of time and knowledge of both real estate and construction as well as key relationships with important people, like money lenders and title companies.  Sure anyone can get into it, and many can find success, but it will be rare.  You are not the guy on stage, and as they show you, "your results will not necessarily look like" the bank account they're showing with almost $400K in it!  For some reason, two movies came to mind yesterday while in this seminar...

Tom Cruise in Magnolia
https://www.youtube.com/watch?v=_n2IVF9a2IA

And how ironic that the most creative minds, the ones who are working hardest to get the economy going, those are the ones that you round up. And why? Because what, they're the easiest to go after? And what about the real ******** artists? You didn't even come close to the big leagues. Those big guys. The money men. - IRVING ROSENFELD (American Hustle)

Just my two cents.  I'm still going back on the second day to see if there are any more useful concepts to take away for the $200 I spent.  

I am giving you a direct quote from my mentor (who charges me $0): 'Save that money and buy a house, after you find an expert mentor in your area who has done 500+ deals and been in business 10 years.' 

They are out there, and they often charge nothing. In my case, he teaches me, and I buy his deals and do extremely well.

I bet you that you can find a good coach or mentor on BP for any market you are considering. there are so many knowledgeable investors on here.

I had a friend in OH yesterday tell me about a guru he saw online - guy charges 8k up front, and you get like two phone calls a week or something. And then, he take 50% of your profits on deals until you make 500k in profits. ! That's INSANE. Who is this guy, Warren Buffet? Donald Trump? That's nuts. 

Find a good mentor who charges you nothing.

mike ' 

They may be investors that have made money, but what they don't tell you is that the success rate at doing what they are talking about takes a lot of time and knowledge of both real estate and construction as well as key relationships with important people, like money lenders and title companies.'

YES! Dude, that is it exactly. A really successful RE investor has many years and years of contacts and relationships in their city city, title companies, lawyers, expert construction crews, cheap materials suppliers, good rep so tons of people send him deals. that's a big part of being successful. You don't get that in a guru class.

@Mike Davis  Like I mentioned above. I attended and did not sign up. A couple weeks later a lady in CA that sits in the office "next to Than" (whatever) called me and they again asked for money to sign up. I actually just got a call from them yesterday to check in and see if I am still interested (4 months later)? That special they offer you is not good for just "TODAY" if you are interested later you can go back, but I would suggest you use that $$ for your own business. After my 3 day session I felt like I was going to regret my decision not to join. I Linkedin some members of Fortune Brands and reached out to them. I. They all said that they paid the initial investment then they had to pay more $$ to incorporate through them. More money for this and that. You still need to start your business and you need money to do that- just skip them and do it yourself with the money you were going to give them.

@Imad M.  

I am not aware of Fortune Builders program, but I registered for another. I am a month into it. It is at your own pace, completed through online correspondence. I still rely on BP as well. I think the more resources and information I have access to the better. At the end of the day, you always get out what you're willing to put in. 

Let me know if you want any information about the program I am in. I was a Realtor for 6 years in Canada and I still saw the value in it. Partly because of the differences, but mostly because I wanted to to shorten the learning curve and this program allowed me to find ALOT of useful information all in one place and it is organized well.

Best of Luck!

the people who push these programs will try to tell you that if you pay the big bucks and take the class, presto, you're a successful investor. Yeah right. Becoming a successful investor takes years of work and building relationships. As I always say, you can speed this up by working with a FREE expert/mentor, not through these classes. 

Imad,

I am still a newbie, so consider that as you hear my thoughts.

But... I am planning to take two courses to expand my knowledge. I have found courses on apraising and another necessary to get my Texas realtor's license. I can take these online or in person. For about $1,400 (plus the cost of the state exams), I can have a Real Estate License and an Apraiser's Certificate (trainee).

I am considering either of these courses and probably both. I am staying far away from the gurus and will seek good mentors through hard work and persistence. Just a thought.

- Kevin

p.s. For any of you experienced folks, is there a reason that even this $1,400 investment is a waste? If you were going to suggest only one course (or one to do first), which one would it be?

Welcome to Bigger Pockets @Kevin Reynolds , $1,400 sounds high just for two classes.  Be sure to check http://www.trec.state.tx.us/licenses/salesapp.asp for requirements to become licensed in Texas.

Originally posted by @Billy Cones:

. . . . $1,400 sounds high just for two classes.  Be sure to check http://www.trec.state.tx.us/licenses/salesapp.asp for requirements to become licensed in Texas.

Thanks Billy!

I just gave a quick reply, but probably should have been more specific in talking about what I wanted to do. (I was considering creating a new post just about my possible studies and wasn't sure if putting too much on a post that is mainly about the value of the FB Mastery Program and the cost to be "mentored".)

I was talking about 2 course packages.

- 1) A complete course with all 5 classes necessary to get the Texas RE license.

........ (so... 5 classes - 180 classroom hours - cost "just" $649.00 instead of 25k

- 2) A complete course - 3 classes necessary to take the Texas Apraisers Test (trainee)

....... (3 classes - *75 classroom hours - $749.00 instead of 25k to Fortune Builders 

       * as a trainee, the new apraiser would need to work under a recognized apraiser until he meets the State requirements to "loose the trainee label".

This is a much more complete and accurate description of the courses I am considering and their cost instead paying a group to give me the secrets of real estate wealth.

The question you always have to ask yourself is,

If these guys are such real estate gurus, why are they spending their time giving seminars instead of turning real estate deals?

There are places where 5 grand down will buy you a house. That gives you 10 grand to work with. Don't be afraid to get your hands dirty. Even if you totally F up you'll get a better education, and most of your money back

Massive rip off. 

I often have FB students hit me up for info and ask for referrals to title companies, agents etc.. then tell me their money was well spent in FB for the network. Wait, why do you need me to refer you these people then? 

I've got one friend who crushes is who went through it, he'd be crushing it with or without them. I know several who got took for the $25k and got nothing, if not bad advice. 

Here's a tip, if something is advertised on the radio to the general public, its likely for idiots. 

Join the Largest Real Estate Investing Community

Basic membership is free, forever.

By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions.