Hampstead, MD · Member since 2014 · 10 posts · 2 votes
I have been online for hours, looking at local investment opportunities when I came across this Freedom Mentor apprentice program. I was so excited about it I signed up to see if I was eligible. I guess I will get a call tomorrow. Anyways, I was just wondering if anybody has heard anything, good or bad, about this guys company. Any thought?
Centre Hall, PA · Member since 2015 · 48 posts · 20 votes
11y
Even if you have little or no money you cannot be afraid of failing or messing up. In this business the only way to get better is by messing up a little and truly learning from that experience. It sucks, and it's not fun but in the end if you stick with it, put the work in and keep grinding you will succeed! Do not let fear of failure hold you back.
Action creates motivation! Just start doing it and you will see that it's not as hard as you are making it to be in your head.
My advice is to read as many books as possible, listen to podcasts (BiggerPockets has some AWESOME ones) and listen to audio books to limit your mistakes.
We live in the Information Age! People did this stuff long before the Internet and before people cared enough to write books to help others. All we have to do is take advantage of the knowledge passed on to us and keep pressing forward! We have no excuses to not be successful, it's all mapped out for us.
Just START!
Good luck! I hope that ramble helped a little. Haha.
Oak Park, IL · Member since 2017 · 1 post · 0 votes
9y
Thanks everyone for sharing your thoughts on Freedom Mentor. I have a call scheduled for 7pm tonight. I don't think I'll be answering! I'm just going to save save save for the next year, and while I'm bored at home I'll be listening to BP podcasts and researching REI :)
That's outrageous. You have to put up at least 5k only to give them 50 percent of the profits. Sounds like a one sided deal to me and its not exactly in your favor
They get 50%??? What can they be offering for that to make sense? Do they find you deals? Do they have contractors, lawyers? What? That sounds crazy to me otherwise. (and i am a complete newbie)
Flipper/Rehabber · Nashville, TN · Member since 2018 · 23 posts · 24 votes
8y
I'm considering his program, though I've not yet done it. I'm waiting for a first call. I looked at three others and quickly trashed them before I found Phil's. One guy has a website with a class action lawsuit against him on page one of google. Lol. Anyway, some thoughts if you approach it from a business perspective...
1.) The price seems steep, but put yourself in their shoes. They get thousands of emails a month applying. Can you imagine all the jokers and tire-kickers they'd have to deal with if the barrier to entry was only $500 or $1,000...or nothing? It's the price it is to weed people out. (2.) They're a business operating as such. If you had thousands of deals of experience, most of us would probably reach the point where we'd say alright how can I now teach others and get a return for that investment. Passive income is what everyone dreams about, admit it. It's just ironic so many people get up in arms when someone is successfully and legally doing it. (3.) Phil mentioned in his post-application video that his mentor deal starting out was 50/50 for quite a while. So he does the same. My big concern is what does mentor mean? Do I have a dedicated mentor? Are they really accessible? Etc. If it's a crap-shoot every time you call then yea save your money. I'll see how thorough their answers are on the phone. I feel this phone call is more for me to interview them. (4.) Phil is the only program I've found that there is no bad press, (legit) scam reports, or lawsuits lol. The people angry are the people who seemed to have not really thought through their decision and quit when it didn't "work." It's mentoring via a business model. Not a fit for all. For me? We'll see!
Flipper/Rehabber · Nashville, TN · Member since 2018 · 23 posts · 24 votes
8y
They never called back. Fortunatley. Because I got smarter. The most beneficial thing is learning how to avoid those guys. My thoughts have changed a bit. They can give you all the info in the world but in the end you still have to get yourself deals. These guys sell people on their emotions and people think they've won the lottery if they get "in" with them. I'm about to tackle a flip through connections made at a local REI meeting (real flip, not wholesale flip.) Action is the real and only education. Not listening to hours of other peoples' success stories and paying thousands of dollars for a virtual "mentor." Having a mentor in person, in city, who you work with daily is way different than the "mentor" they talk about. That's what Phil had. Unfortunately he tries to sell his program as the same type of mentoring. At 6k buy in. It's like sitting at a hold 'em table. I'm sure some people benefit but my personal belief is many wind up in debt after the rose colored glasses come off and they realized they got suckered via their vulnerable emotions. Just remember this - houses were their product getting started. Now, you are their product, and everything they do and say is designed to sell. They know you're vulnerable and they sell directly to it. Phil's free info online is great. Although be careful because even much of it is designed to sell as well because of the way he presents it and the things he strategically leaves out.
Specialist · Fallston, MD · Member since 2019 · 9 posts · 2 votes
7y
So I took the plunge and joined Phil's program despite the comments in this thread and am quite glad I did. It's been less than a year and my 1st deal is closing next month which will net 40k. To address some of the concerns listed by others:
-Price of entry too high
What's the price of never being able to lose money on a deal? What are those systems, education and coaching worth? At least my cost was upfront vs. more costly and time-consuming mistakes. That's the point of mentorship, to cram decades into days and to leverage other people's knowledge to benefit you. Are there less costly books, seminars, r.e. investor clubs, forums to learn to get into real estate? Sure, but they won't generate the types of profits and opportunities this program will, simply bc they teach proprietary strategies and techniques you won't read anywhere.
-How much "mentoring" will I get?
There are coaching calls multiple times a day you have access to, individual coaching calls, messaging centers, etc
-Splitting profits 50/50
If I have to split profits for 2-3 years to be able to quit my day job and provide a better life for my family and have more free time, it's well worth it!
Caveat: Just like anything in life, your effort=your payout. You do have to learn these things, get out of your comfort zone and work at it to have success.
Specialist · Fallston, MD · Member since 2019 · 9 posts · 2 votes
7y
Not quite, I have 3 under contract 2 closing in a year, however, I didn't figure out the best marketing strategy for my area for the 1st 8 months. That and I have waaay more knowledge and confidence than I did when I first started. So I'm converting more leads and a stronger follow up list now since I'm able to read between the lines better of what will get the deal done. Makes sense though, the more experience the better you become.
Thanks for all the information guys very useful indeed! I can see both sides of the story. There is a disconnect when people say that they don't want to give so much money (to someone) for a program - when they themselves are trying to do this for the money and financial freedom for themselves. So we have to factor in that Phil at Financial Freedom is doing this for the money for himself, and in return, he is giving a valuable service. Let's step back and look at what this person is giving you for $5K-$7K (as indicated above). An opportunity to not lose money in the wide spectrum of real estate minefields out there. Let's think about this logically - Is it possible that we can lose $5-$10K on property deals? In my estimation, I would think very easily in real estate. There are probably more things that I have not thought of when trying to do a deal than I know. I would at least need a second pair of eyes to cull through and give me assurance. Just look at all the money large corporations spend on things like Internal Audits to give people financial assurance on transactions. Why would any company hire Internal Auditors when they have there own accounting specialists working on and creating financial statements in the company they work for themselves? Simple its for assurance so they know the integrity of the system is followed. Like I said its assurance and that is what Freedom Mentors is providing. I would just like to make it clear that I am in no way affiliated with Phil nor have I taken his program. But like several of you I am looking to do so. I like many of you guys have been scammed with other programs out there. But reading the thread it seems as though this person (Phil) has no record of lawsuits nor had substantial negative reviews. Having a clean slate after being online for a decade is a pretty good track record to me. In fact, as I remember in one of his Youtube videos he states the best thing to know is 'when not to do a deal'. I am a very impatient person and want to pull the trigger ASAP. I'm sure that this is human nature for the most part. I need someone with experience to control or let me know when not to proceed because of some unforeseen insight based on someone's previous personal experiences. To me that is golden. I believe that is what Phil is offering. If anybody has any experience except for the one person above (Brad Martin) who joined his program I would be very interested in speaking with you and understanding how their experience was. Yes, I know Financial Freedom is asking for 50% of the profits but the way I see it is it is something good because they have some skin in the game for themselves so they are absolutely interested in protecting their own self-interest. Sorry for writing so much but just my 2 cents....