Looking to get any reviews on Mentor/Investor/Teacher Brad Sumrok on Multifamily

97 Replies

Please reply with any feedback on Brad Sumrok who states he specializes in Multifamily acquisition and mentoring. He has been holding Investing Weekend Training Events.

Thank you.
"Irish Kevin"

I'm curious about this too as I am think of attending one of his seminars

I am also interested in this.  I just saw a webinar by him, and am considering a trip to Dallas (semi-close to where I live and have family there to stay with).  I would love to hear if the trip is worth it.  If I don't, I will probably go to see what it's all about.  Apartment complexes is somewhere I would want to be eventually, so this might be a good fit.  I have a feeling that it's some kind of high-pressure "buy my mentoring" sales pitch, though.  Might be a good trip just to see family if not.  At least it wouldn't be an entire waste of gas otherwise...  If I go, I will let you know how it goes.

Originally posted by @Matthew Candler:

I'm curious about this too as I am think of attending one of his seminars

 Lol, great minds think alike.

I don't know much about Brad except for what is googleable but I am going to attempt his free event on 8-9 of November. 

Disclosure: I will get a referral fee if you put me down as a referral source and sign up for one of Brad's two programs.

Let me state up front that I know Brad and can get you a complimentary pass to one of his free 2-day events. Furthermore, if you put my name down as your referral source, I will receive a referral fee if you sign up for one of his two programs.

Don't bother going or reading further if you don't have money or credit. It's not one of those.

Brad knows his stuff, has had up to 1400 units (don't quote me), and still buys and sells apartments today. He acquired a 190 unit a few months ago and is in the process of selling two 150+ unit properties now. I think one recently went in escrow and the other is on the market.

As has been mentioned, Brad holds a free 2-day event 3 or 4 times per year. There is lots of good content. It's not a pitch fest but he will offer his program. 2-days of free content at a name brand hotel and 5 buses on his dime. No one should be naive enough to believe otherwise.

The following is from one of his ads:

  • The 3 Step Wealth Formula that virtually anyone can follow
  • Brad's 3 Rules to Retire Early that can enable anyone to exit the Rat-Race
  • Finding the Deals, including Off-Market deals
  • Evaluating the Deals
  • Contracting & Negotiating the Deals
  • Due Diligence
  • Exit Strategies
  • Multifamily Financing
  • Multifamily Business Planning
  • Group Purchases & Raising Money
  • Building Your Team
  • Using Your IRA
  • Steps to Your First Deal
  • Case Studies
  • Bus field trip on Sunday rented at Brad's expense

Again, I am not an affiliate or paid to promote or whatever, but I will receive a referral fee if you put my name down as a referral source and pay for one of this programs. I am going to err on the side of caution and answer yes to the relationship question even though I don't think it really applies.

Feel free to reach out to me independently if you'd like more info. I'm not going to respond further on the board. Too much anti-guru sentiment here, myself included 99% of the time.

Medium signature file200Carlos Flores, Old Capital Lending | [email protected] | 972‑696‑9616 | http://www.strongercapital.com/

To answer your question about Brad Sumrock...

Having been personal mentor students of Brad Sumrock, over the past year; plus, PIG member of a competing mentoring group, we believe we are highly qualified to provide objective feedback on Brad and the other mentoring organization. 

To date, we have been recognized by Brad personally, for closing the largest first time syndication, of any of his students, in the Brad Sumrock mentoring program.

@Chauncy,

Why don't you introduce yourself and post your experience with Brad Sumrok here? 

I looked at your website but found nothing of substance. No past deals, no names, just generic attempt of gaining credibility by association. 

Nick

I would agree with @Nick B.  's request to @Chauncy R.  

Can you provide some additional details on your dealings with Brad that can help some of us that are interested in him.

Thanks

Remy

To @Nick B. and @Remy

The foundation of how we do business is not 'all about ourselves', which is precisely why our website, talks about how we customize our services to meet our clients needs.  On that note, we prefer the personal touch with our clients and prospective clients in a one to one. 

While most may jump at the opportunity to post "all about me" here, our team's philosophy is "all about helping others".

Yes, you are correct, we don't use social media to 'boast ourselves'; instead if our passive investors, become our clients and our employees are referring their friends to us, that speaks for itself. In short, we would rather our 'boasting' come from our clients and not from ourselves. 

In regards to Brad and details,we are more than happy to share that information one on one. We have had multiple dealings with Brad, which are unique to the current 'deal' being analyzed. Therefore, its not appropriate to try and describe a one description fits "all" here.

You said a lot yet gave nothing material. It is "all about you" at this point. Noone would want to deal with you without knowing who you are.  I know Brad's students who look for other investors but none of them try to do it anonymously. 

Hello all, 

So I just came across this program through a local REIA.

Like the others have said, there is no real substance in this thread.

@Carlos Flores   What are the details of the two programs? 

Cost, Time, Actual mentoring? 

I just want to get more details before I make an 8 hour drive to Dallas for a weekend. 

Any info would be greatly appreciated! 

Originally posted by @Blake Woodham :

Hello all, 

So I just came across this program through a local REIA.

Like the others have said, there is no real substance in this thread.

@Carlos Flores   What are the details of the two programs? 

Cost, Time, Actual mentoring? 

I just want to get more details before I make an 8 hour drive to Dallas for a weekend. 

Any info would be greatly appreciated! 

Take a look at Brad Sumrok's Viemo videos for a general idea. 

http://vimeo.com/user9251165

I have family who wanted me to invest with them and Brad. They are doing multifamily apartment investing in groups. They refused to share specific information and just insisted I attend one of the meetings. When I couldn't get any real information out of them I lost interest. They wouldn't tell me cost, it is safe to assume they paid $5000 to be PIG members. Lifestyle Unlimited claim Brad is their lead consultant for Dallas. There is more information through this link. 

http://lsrealtyadvisors.com/about/

One thing I am certain of is that this type of investing is a full time job. My family spends 7 days a week looking for properties. Every few months Brad will rent a shuttle bus and take a group out. It came off as more of a party bus than anything truly productive. They look at maybe 2 or 3 properties in older areas like Garland then go out for food and drinks. They did find a property after looking with Brad for almost 2 years. The property is about an hour and half from where they live and they commute daily.

There is no significant reason to use this mentor unless you are refusing to research real estate investing for yourself. Brad uses the book Rich Dad Poor Dad as a "textbook." My family member gave me a copy that they insisted I read.

My family states they are happy with what they have achieved, recommended I invest with Brad and is pitching the idea to all their friends. I choose not to participate.

@Trevor Gerard , I am not Brad's student but I attended his 2 days event in November of 2014. For me it was mainly networking because I knew most of the stuff Brad covered during the seminar.  

Brad used to be with Lifestyles but then started his own program with two levels of membership: Foundations for $3000 (or $4000?) and personal mentoring for $15K. 

It may make sense to signup for his personal program if a) you have $500K+ of investable money, or 2) you want to be a lead investor/deal sponsor. If all you want is to be a passive investor, then just get to know his leads and see if they have any projects going on. Unlike Lifestyles, Brad's students do not have to pick their passive investors from his program.

@Trevor Gerard  , the lsrealty link is way out of date.

I don't know Brad personally, but am familiar w/ his background and accomplishments.   There's no doubt he knows multifamily - he learned personally from Del Walmsley, founder of Lifestyles Unlimited.

I'm a PIG member @ Lifestyles, but recently received a private placement memorandum from one of Brad's students.   One thing that was quickly apparent is that Lifestyles is much more passive-friendly due to their lead investor guidelines.    This deal, first time leads were getting an override, an acquisition fee, and a prop. mgmt. fees plus asset management fees  well in excess of LU standards.    None of which would have passed muster w/ LU.   I passed, and it seemed like they were having problems raising funds, likely due to charging too much for first-timers.   

However, if you're going to invest just a small amount, it may pay to find Brad's leads, since as mentioned you don't need to be a student to invest as a passive   Regardless, perform your due diligence, and be sure you understand the economics, risk, terms, conditions, etc. of whatever you invest in.

I just became a Foundation's member 9/19/15. I also just joined Traction REIA in the DC Area. And I will be at Brad's event in November 2015. I have known about Brad for a year and I have gone to several of his training events.

My perspective:  I love Brad's training and I feel his curriculum facilitates my learning style. 

One of my investment friends said via text: "He didn't like Brad" -but have never met him.  I simply replied, "Money(Education) doesn't have a personality!:)" 

I know my response doesn't substantiate the initial blog question.  However, it appears that some people are looking for a reason to make a decision or lack thereof.

You all are more then welcome to ask me questions along the way. 

As a former Golden Gloves champion-I will not hold any punches :)


I'm going to Brad's seminar in Dallas in November of 2015.  I'll report back.  

Bumping this thread. Would like to hear any updates about the programs discussed here.

HMM; No disrespect to any Guru or persons commenting in this thread, but ...

Compare and contrast the differences between SFR & MFU.

The vetting process is exactly the same - - you need to understand the numbers.

1-4units is financed just like SFR and your personal credit is in play and the loan is fixed or arm

5->15 is simple MFU, commercial ARM loans with new metrics (DSCR, Vacancies & Reserves) and there's no onsite manager

16+ requires (in Calif) an onsite resident manager which is your employee.

>>if you're comfortable with SFR rentals, then you can just as easily move into MFU's <<

I am going to the seminar this upcoming weekend in the Dallas area. I will also report back.

Alright,  I just finished the ALL the videos in Brad's Foundations Training.  I watched some of them several times.  I will go through his program once a month for a year.  Worth the investment!  And I am looking forward to Upgrading to Brad's personal coaching and attending a Bus tour. 

The foundations course  is designed  for you to be independent of his mentorship.  The foundations course, has technically given me enough "information" to go out on my own.  However, I an not Unconsciously Competent.  I believe I will become UC with a personal mentor.  I also believe that I will mitigate my losses in Brad's personal coaching program.  In the past, due to shinny object syndrome, I have made investments on my own-  I am still paying for them! 

 I definitely got my money's worth.  I will also be in Dallas this weekend.  To the people that are headed to the Seminar -  Lets meet up!  I'll be up front! 

I went to the 2 day with bus ride this weekend. I will say this Brad definitely knows multi-family and presents it with clarity that makes you want to take action. There were lots of testimonials for past and present deals by his students there at the event. Some of his students are currently working on closing deals and raising money by looking for sophisticated and accredited investors. I liked everything and even wanted to get involved but here is my dilemma, why is the price tag so high for training 5k for video courses & 19k for personal mentor ? Oh if you paid that day you get a discount  approx. 4k & 17k. I kind of lost interest after that. 

Another thing I discovered is that the min. amount to get involved in an apartment purchase is $50k as part of a group but if you got more say $100k + then I think it would be more beneficial for you, in my opinion. I think you can make more in other types of investments if you only got 50k and your capital can be returned to you more quickly than tieing it up for 5yrs. which is the avg. time it takes to acquire & sell the apt.. The risk would also be less than trusting it to strangers in a group(my opinion). There were some that said they doubled their money in 2 yrs. but the avg. is 5yrs for the way they have the deals structured.

I heard one testimonial were a student bought a apt. building for 400k then sold it to another student for 800k a year or 2 later which was recommended by Brad to buy. I don't know the details but seems suspect to me ???

I know he used to be a former Lifestyles Unlimited coach and it seems he is now charging the same high prices as lifestyles which I think is overpriced as well.

This is just my 2 cents on it.

Just my $.02, you don't (yet, at least), have the right mindset for MF investing.   Forget about what you pay, it's what you get back that's most important.   You're right in one respect, the more $ you have, the easier it is to justify the mentoring expense. 
My sister-in-law attended the same class, and she was very impressed.

The price tag is what it is b/c that's what produces a reasonable supply/demand balance.    Brad is one person w/ the same amount of hours in a day as everyone else.    If he offered personal mentoring at $2000 and signed up 50X the number of people, do you think he'd be able to provide the personal service for them to be successful?

I'm not part of Brad's group, but his students I know seem to be happy w/ their "investment" and the benefits they've received from it relative to the cost.    Apartment investing, esp. as a lead, isn't for everyone.

Originally posted by @Zeak Hill :

I went to the 2 day with bus ride this weekend. I will say this Brad definitely knows multi-family and presents it with clarity that makes you want to take action. There were lots of testimonials for past and present deals by his students there at the event. Some of his students are currently working on closing deals and raising money by looking for sophisticated and accredited investors. I liked everything and even wanted to get involved but here is my dilemma, why is the price tag so high for training 5k for video courses & 19k for personal mentor ? Oh if you paid that day you get a discount  approx. 4k & 17k. I kind of lost interest after that. 

Another thing I discovered is that the min. amount to get involved in an apartment purchase is $50k as part of a group but if you got more say $100k + then I think it would be more beneficial for you, in my opinion. I think you can make more in other types of investments if you only got 50k and your capital can be returned to you more quickly than tieing it up for 5yrs. which is the avg. time it takes to acquire & sell the apt.. The risk would also be less than trusting it to strangers in a group(my opinion). There were some that said they doubled their money in 2 yrs. but the avg. is 5yrs for the way they have the deals structured.

I heard one testimonial were a student bought a apt. building for 400k then sold it to another student for 800k a year or 2 later which was recommended by Brad to buy. I don't know the details but seems suspect to me ???

I know he used to be a former Lifestyles Unlimited coach and it seems he is now charging the same high prices as lifestyles which I think is overpriced as well.

This is just my 2 cents on it.

Originally posted by @Chris Soignier :
Just my $.02, you don't (yet, at least), have the right mindset for MF investing.   Forget about what you pay, it's what you get back that's most important.   You're right in one respect, the more $ you have, the easier it is to justify the mentoring expense. 
My sister-in-law attended the same class, and she was very impressed.

The price tag is what it is b/c that's what produces a reasonable supply/demand balance.    Brad is one person w/ the same amount of hours in a day as everyone else.    If he offered personal mentoring at $2000 and signed up 50X the number of people, do you think he'd be able to provide the personal service for them to be successful?

I'm not part of Brad's group, but his students I know seem to be happy w/ their "investment" and the benefits they've received from it relative to the cost.    Apartment investing, esp. as a lead, isn't for everyone.


I was impressed too but didn't buy into it because of price not because I didn't have the money. Did your sister-in-law sign up or was she just impressed ?

So who do you recommend Lifestyles or Brad ? Brad said he left because he wanted to get others involved who couldn't afford to be a PIG in Lifestyles. So I guess he saw an opportunity to get that $5k Lifestyles was leaving on the table. So are you a defector from Lifestyles too ? Not that I care but I find it strange that you are with Lifestyles but seem excited about Brad's program.

Whether the training was $1k or $50 that has no bearing on what he can or can not offer.  When the smoke clears Brad is still a guru selling courses at high prices and I quote "the price will go up yearly so you better sign up today".  If he was worried about the amount of people he could offer training to personally why is he advertising all over the biggest state in the US (Texas) and making appearances in various groups and all over the US ? All throughout the year ?

I'm sorry my mindset will never fall for that ($4k video course or $17k to be mentored over telephone or e-mail) and it raises flags with me.

I'm sure he makes a lot of money in MF & uses the OPM (students) funds to acquire more. Sure, I believe some of his students are making money and some of them are not but no one ever talks about them or too shame to admit it having spent all that money on the videos and personal mentoring My $.04 cents now.
Originally posted by @Zeak Hill :
Originally posted by @Chris S.:
Just my $.02, you don't (yet, at least), have the right mindset for MF investing.   Forget about what you pay, it's what you get back that's most important.   You're right in one respect, the more $ you have, the easier it is to justify the mentoring expense. 
My sister-in-law attended the same class, and she was very impressed.

The price tag is what it is b/c that's what produces a reasonable supply/demand balance.    Brad is one person w/ the same amount of hours in a day as everyone else.    If he offered personal mentoring at $2000 and signed up 50X the number of people, do you think he'd be able to provide the personal service for them to be successful?

I'm not part of Brad's group, but his students I know seem to be happy w/ their "investment" and the benefits they've received from it relative to the cost.    Apartment investing, esp. as a lead, isn't for everyone.


I was impressed too but didn't buy into it because of price not because I didn't have the money. Did your sister-in-law sign up or was she just impressed ?    When I had dinner w/ her Sat. night, she had planned to sign up...haven't heard from her since (she lives in Houston, and we're both very busy)

So who do you recommend Lifestyles or Brad ? Brad said he left because he wanted to get others involved who couldn't afford to be a PIG in Lifestyles. So I guess he saw an opportunity to get that $5k Lifestyles was leaving on the table. So are you a defector from Lifestyles too ? Not that I care but I find it strange that you are with Lifestyles but seem excited about Brad's program.
I believe that both programs have value, which you pick depends on your specific needs.   Want to be a passive?   LU's lead investor guidelines result in much more favorable terms (i.e. lower fees) for passives than I've seen anywhere else.   Want to be a lead?   You can seemingly charge your passives whatever you want under Brad's program (subject to what the market will bear, of course), but I believe LU's "speed dating" makes fund raising easier vs. Brad's program.   I'm not at all a defector from LU, but a satisfied member.   That said, I highly respect Brad as well, and don't believe you have to put down program in favor of the other.   I have invested in one of Brad's students' deals, in addition to the 7 I've done through LU.  I can only speculate on Brad's motivations for going on his own, but I suspect it had a lot to do w/ creating his own brand and making a lot more money (not that there's anything wrong w/ that).

Whether the training was $1k or $50 that has no bearing on what he can or can not offer.  When the smoke clears Brad is still a guru selling courses at high prices and I quote "the price will go up yearly so you better sign up today".  If he was worried about the amount of people he could offer training to personally why is he advertising all over the biggest state in the US (Texas) and making appearances in various groups and all over the US ? All throughout the year ?

I'm sorry my mindset will never fall for that ($4k video course or $17k to be mentored over telephone or e-mail) and it raises flags with me.
Worrying about what you pay instead of the net benefit you get is a stumbling block that keeps many people from becoming millionaires.   I also paid a single family mentor $20K for a year of coaching, and he helped me make $30K on a deal I was about to pass on....and that's just one example.   The Realtor I'm teaming w/ pays a coach $1K/mo., which sounds like a lot, but she's killing it w/ about 4 listings/month.   She says she plans to use him indefinitely.   Even the best athletes in the world pay coaches, many of whom have lesser skills.   Why, b/c they realize they drive them to superior results, which earn them well more than the incremental cost!

I'm sure he makes a lot of money in MF & uses the OPM (students) funds to acquire more. Sure, I believe some of his students are making money and some of them are not but no one ever talks about them or too shame to admit it having spent all that money on the videos and personal mentoring My $.04 cents now.