We have a friend who went to a Fortune Builders 3 day seminar and he is buying into the mastery program (or thinking about doing it). He is wanting to get us in with him as partners. Its $33.000 for their program. For 1, we don't have that kind of money, even to split it half way. Something in me saying, don't do it! There is a lot on here about fortune builders and I don't want to make my friend angry, but I don't see investing in something like that when we can learn what we need elsewhere. Any input? Thank you
This is ridiculous. You could buy one or two houses for that. I wouldn't spend $300.
Buy some books from Amazon. Used.
Attend local REIA.
I have been told that most people who buy those things never buy anything. Often, CD's are never opened. I guess it gives them a momentary feeling of success.
I attended the same 3 day seminar and yes at the time, their mastery program seems like the best investment you can make in your business. But now that I found this website, I am not as interested in it anymore. There are many ways to learn what they are teaching you without making that HUGE investment and this site is a great start.
Fortune builders is coming to town here in Dec. I think I will take my $30k and buy a few rental properties.
I imagine there is a reason they call it Fortune Builders. It's because your building their fortunes.
$30k is steep. On some level, it may be like having a personal trainer for fitness. Can we eat healthy and work out on our own without a trainer? Of course. Will we? Most of us won't. Perhaps this course lights a fire under someone after they drop that much cash into the program. Seems crazy to me to spend that much, but I don't know anything about the program. This is why I'm considering getting into the information business! Most people want to purchase the hope of a result, rather than working for that result. Hence the unopened CD's from so many seminar attendees.
You all do know a sucker is born every minute.....right?
Tell you what, you don't need friends that pressure you into spending that kind of money, that isn't a friend!
Absurd! Just absurd!
Don't do it!!!! Don't waste your money on that!!! Your gut feeling is RIGHT!
YOU CAN DO THIS, without paying that kind of money for a course. Check out if there is any local investing clubs in your area, go to the website MEETUP.com and see what they have, go to a REIA meeting, check out books to read, Bigger Pockets has tons of information and people to network with, ask questions to anyone on here they all will help answer them. Decide what you are wanting to do, your goals, what your niche will be, how you will market and who to market to. (Bandit signs, drive for dollars, write letters and craigslist is the best way to market)
I love wholesaling and rehabs, they are my favorite!! I have only been doing this for a year and having a blast!! I read everything, I soak up info like a sponge and I just DID IT!! Read my bio and then if you have any questions please dont hesitate to to ask me anything!!
Just remember to have the I CAN DO THIS ATTITUDE!!!
Hey, @Bill Gulley - I'll split it with you if you go...
Ben, I wouldn't go if it was across the street with a dollar cover charge.
"to part a fool from his money" :)
$33,000. Hahahaha. Wow. Looks like we are in the wrong business. Instead of buying properties for rental or flips just get a bunch of people together who are desperate to learn and at $33,000 a pop it doesn't take very many to have a great day. This and that stupid bus tour that's being offered are insane. Imagine if you took that $33,000 and spent it on direct mail. Spread that out over the course of 2 years and you will have an insane business going.
I don't see these expensive guru programs as a business as much as a scam, regardless of who they are. You can check on the well know scammers on a site had by John T. Reed, another guru I think, but he lists the law suits, bankruptcies and jail time these thieves have.
IMO, and yes, I may have a better insight to some areas of this, these educational information types are being examined, in time I'm betting there will be oversight as to products advancing systems, strategies or methods of conducting business. Not just anyone can be a firearms instructor for example.
The gross misinformation from these guys is not teaching real estate at all, pumping marketing and methods as an education in real estate, which is simply fraud, selling a product as something it is not. A fine line that may be better defined later.
Can you imagine if someone who was not qualified to teach medicine and surgery sold how to books with implications of making big bucks what would be the outcome? Same in RE, it's always about protecting the public, you won't kill someone being an idiot investor, the attention hasn't been that great, but things are changing.
Unless you are actually qualified by education and experience you'll have issues selling ideas with deceiving techniques. By deceiving techniques, I'm saying claiming or implying that using your information will make money for the user.
Just posting to say things will be changing, there are enough guru bashing threads and posts here. :)
It is a great pitch that they give but in the end this is not a mentoring program. I have spent money on some of these types of courses and programs and have been pleased with the content. But likely with a little intensive research I can find this same information at a fraction of the cost on the Internet or on eBay. I truly believe that there is not one big ticket training program that apprentices and mentors you appropriately. If I were to design a program it would be one where the student would actually become a member of my team and I would mentor, coach and train them daily through all aspects of businesses. This type of training needs to be hands on!!!
I attended the seminar also. They made it sound very promising. I initially was thinking about joining them but luckily I didn't . They were forcing me to join and they make it sound like that they only have limited spaces left. That's all BS. I later on found blogs from people who had joined and only 10% had made any money . One person had a breakdown since they couldn't get any properties and had to make the payment on the $33k borrowed on their credit card. My opinion that I would not join them. Now that I found Bigger Pockets and all levels of experienced people , it is great .
Please don't be pressured to go to this program. Like others have said, use the money for a down payment. Hell, I bet you could do a joint venture with someone to learn the business since you have capital... Get out there and make your own mistakes. Because, even with a guru, you're bound to make them anyway. Best way to learn is via hard knocks...and thru BP :)
Step away from the Guru. Nothing to see here, folks.
I'm a Fortune Builders mastery student. Joined many years ago and spent $9,000 to join. I've gotten my money back many times over, however, knowing now what I didn't know then I would not spend that money again.
As was stated by several before me I'd buy some books and do some reading, stay involved in the BP forums, listen to podcasts, attend your local real estate investment clubs and buy a property or two with that money. You don't need to spend thousands of dollars to learn this business.
"If I were to design a program it would be one where the student would actually become a member of my team and I would mentor, coach and train them daily through all aspects of businesses. This type of training needs to be hands on!!!"
That type of commitment eats up a lot of time from your business as a successful investor.
I do not know anything positive or negative about this company although they frequently come up as a topic on here.
I would say that it is easier for an investor sell a book/system/information on doing grand slam deals then to consistently find them over and over again. This is why many jump on the info circuit. They get residuals and have investors like ants march to clean and scrub potential deals for them. Then those properties to buy and partner on can be cherry picked.
The local investor who is a success in your area will usually have much deeper micro knowledge of the area versus buying a national system.
If you really want to buy some of these types of courses you can sometimes find people selling them on Craigslist and Ebay who paid retail for pennies on the dollar. Go in with one or two friends and you get it for next to nothing.
When I first started in real estate there was a system for agents to learn how to do sales. Was 1,999 for it. We found on Ebay for 100 bucks. Split with another new agent friend starting up for 50 bucks each. That was 11 years ago. The content was great for 50 bucks! Not so great for 2,000.............. : )
If your friend is adamant about buying this system let them buy it with other friends and see how it goes.
I have a childhood friend of mine where he always gets sucked into these things. Always buying a system or selling something thinking it's going to get him out of the hole and make him rich etc.
I just tell him in passing when he mentions it that to try it out for 6 months with a friend and then let me know how it went and then I will look at it. 100% of the time it doesn't work out....lol
Might make a little but nothing to cover the cost of a system.
BP is great because we can just post information here and it is shared 24/7.
I know this is my first post and this may sound a bit weird, but I found BP by signing up for a Fortune Builders 3-day workshop that I will be attending here within the next few weeks. How did that lead me here? Well, realizing that it was time to cross the Rubicon and become an investor, I started researching everything I could find on real estate investing and voila! Being one week into my journey as an investor, I can certainly say two things: 1) I received and devoured quite a bit of info on investing and building a business in investing from Fortune Builders, and I have to say it all sounds pretty spot on and logical… at least to a newb. 2) Now, statement #1 being all well and good, there is no way in this world I'm plunking down $30K+ for extra training. But alas, being the confrontational type I will enjoy telling them no with a smile on my face! :)
I believe most things happen for a reason, and the $197 I've spent on the 3-day workshop doesn't bother me at all if I get some good info out of there, which again, I feel I have already learned quite a bit in just the past week. Of course I have also run across a ton of additional information from the folks here on BP and the resources they've recommended.
So, I guess my statement to FB will be thanks a million for getting me fired up about real estate investing and the inevitable lesson I'll experience for staying cool under fire during the reported intense "negotiation" scenario I'll experience! And no thanks to handing you over a bunch of the stuff that I'm trying to acquire by taking this journey in the first place!
Looking forward to interfacing with you all here on BP!
@Account Closed if you are interested in flipping houses I would highly recommend getting J Scott's book at http://get.biggerpockets.com/flippingbook/ which has a 20% discount this weekend using code "thanksgiving". I really found these very useful even though I am a buy and hold person and have done massive renovation before and even built my aunt's house with my granddad when I was in high school.
Thanks for the suggestion Paul!
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I can see how a completely new person to Real estate can be tempted to join the program. I'm taking the 3 day workshop (tomorrow is the last day) and I paid $197. I'm disappointed with the content. 85 % of the course is focused towards "Mindset" which basically is just telling you to think "positive and take action" which pretty much translates into "become a FB member and pay us the 30K". They explain it in a way that make people believe Real Estate is easy and they will get a return in their investment within the first 6 months. The other 15 % discusses very common concepts you learn from reading books. I spent 30 bucks on e-books, and that has taught me WAY more than what I've covered on the 3 day workshop.
I am not familiar with the program so I can't give you my personal opinion about it. But I can tell you is that there is plenty of information out there, BP, e-books, local REI meetings, etc. You can use those 30K on a flip instead, use a hard money lender/credit cards to fund your deal, and make a decent profit.
I would take my 30k and put it towards another 50k owner finance house with zero maintenance.
Find a mentor who is free of charge. They are available.
I also attended Fortune Builders 3 day workshop and I will admit that I did learn a lot about the business. Then they offered the Mastery Program for $15,997 (Silver Package) $19,997 (Gold Package) and $24,997 (Platinum Package)... Which to me is absolutely crazy. They are very good at talking up their program and by the end of the 3 days, you will do anything and everything to try and come up with this $. Yes, I tried but was not successful. They will tell you to call all your credit card companies and ask them to up your limit, borrow it from 401k or ask family members. I believe they are good at what they do but there is no way I would even consider paying that now. There is a ton of FREE and very helpful information on BP. There are also many books that have great content. I have read multiple reviews from their Mastery students and actually met a couple that purchased the Mastery program and didn't even complete 1 deal. I have also read a couple good reviews from their Mastery students. I say read books, listen to podcasts and educate yourself in other ways. If you have that kind of $ to spend then purchase a property or invest it in another way. Just my opinion... Good Luck!!!!
This post has helped me a lot. I just completed the 3 day workshop for $197 and yes, most of the workshop was on mindset. I did, however, get some decent information as well. I will NOT be spending the money to join their Mastery Program either. I truly believe I will get the same education by reading books and attending REI meetings in my area.
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