I just went to Fortune Builders 3 Day event. It was very entertaining.
I did not sign up for the Mastery Program, but all the functionality of the Software Package is making me drool.
I am a software developer so I know the value of software and automation as that's all I do.
1. Rehab estimator, with to do, I like Homewyse as that is Zip Code
2. Comparable estimator
3. 3 click marketing campaigns based on active lists
Is this for real??? Has anyone used these products?
The guy claimed direct access to wholesalers who know what rehabbers wanted (70-80%ARV), I have yet to see these deals on BP.
Contractors who know the systems for the remodel per remodel number(they go to home depot and know exactly what sku # to pick up and labor is coming in at $2-4 k per room.
These are supposed vetted contractors who will sign the 6 document agreements.
Any feedback on the systems and software is much appreciated. I have yet to see a book or google search that tells me what to do at each step. These systems seem amazing. Anyone use these ipad apps to cost build a rehab?
@Jayakrishna Bommasamudram Than Merrill is a marketing pimp, he was promoting competing software packages at the same time a few years ago. I have stayed away from him ever since. I have seen people using realflowe and heard good things it just doesn't fit my business model the best.
I just went to their 3-day seminar in Montgomery, AL. Loved the Statement of Work cost estimator software. Did not love the hard sell for the Mastery class. I had the money, but did not give it to them. Today, just one day later, I get an email from them wanting to call me and tell me about an exciting opportunity for me. Did you get one of these calls too?
There is no way I'm going to spend this amount of money on their "mentor" calls at 30 minutes once a week. The software made me drool, so if they will let me just purchase that part, I might consider it.
@Jayakrishna Bommasamudram Yes! I am anti-guru! It takes some convincing for me to part with the $20k or more these guys are asking for courses. That's the down payment on a house in the market I play in.
I don't understand software. I'm a pen and paper guy or at best an excel spreadsheet, so I fail to get the 'drool' factor for these tools. Both yourself and @Helen Kirk are Pro Members here on BP and as such can use the analysis tools as frequently as you wish. For estimating rehabs just buy the books from @J Scott - "The Book on Flipping Houses" and "The Book on Estimating Rehab Costs". A website like Zillow can offer you comps.
What else do you need?
I think @Jeremy Tillotson hit the nail on the head. These 'gurus' are marketing pimps.
If you use their software, you can take a iPad or tablet (or even smartphone) with you to the property, then go room to room touching the area of the tablet that corresponds to what you want to rehab. They have Home Depot and Lowe's skew numbers programmed into the software, so once you've finished deciding what you want to update, (it also shows you options on items you can choose from), you can print out a Statement of Work for your contractor that includes all the skew numbers, and costs room by room, and you can order directly from the software and have the items shipped directly to your site. Saves a bunch of time and expense. You would conceivably only have labor costs from your contractor. You could submit this Statement of Work to multiple contractors to get their labor cost estimates because the SOW also has a column for adding labor costs.
Anyway, that is my understanding. If I were doing a lot of rehabs, then this system would make a lot of sense to use instead of making multiple trips back and forth to the store, or letting the contractor provide the materials (with his/her markup).
I currently have a bucket strapped to my chin to contain the drool.
Are there equivalents or is it known if they are available by themselves ?
SOW & material list portion specifically
I went to one of the 3-day seminars and I felt the same way. The software looked so cool and insanely simple. I would also be interested to know if they sell it or if theres an equivalent and what the cost would be.
For Sale all the software mentioned above for $1k
Had similar experiences with FortuneBuilders @Helen Kirk @Jayakrishna Bommasamudram : over-priced, hard selling, constant upselling reinforcing the fact they likely make more money on "mentoring" newbies than doing actual work themselves. They're chasing the very outdated high pressure sales model that folks like Brandon and Josh here have done a great job in calling out for what it is.
@Clay W. are you referring to FortuneBuilder's solution or the Realeflow's Hammerpoint rehab estimator functionality? My guess is the FB guys just whitelabeled Realeflow's product and sell it as an affiliate since that's all already available via Realeflow's $99/mo pricing tier. I did just email their support team and they confirmed they do not currently offer it as a sepate purchase:
The tools in Realeflow, including the Hammerpoint Repair Estimator are not currently availabe as stand-alone features. The tool is only available within a Realeflow account.
I found an older blog post of theirs that describes functionality in more detail. Maybe some of you guys that saw the FB guys' stuff can confirm if this is or is not what they were hawking in their
sales mentorship seminars?
@Jayakrishna Bommasamudram Thank you for asking this question!!!! I attended the 3-day seminar in Houston. Like you and @Helen Kirk , their system had me sold. @Cliff H. , I think the FB tool may be a bit more sophisticated than Hammerpoint due to the inventory list and ability to order at the touch of a button. I agree with @Matt Boyle about them selling it independently of the Mastery Program...I wish, but I think that is part of the hard-sale tactic. I would like to know if anyone decided to enter into the Mastery Program since the prior posts. I just joined BP, so I'm just seeing this thread.
Thanks for all of the insight on here!!!
Originally posted by @Clay W. :
For Sale all the software mentioned above for $1k
Where do we find it? Do you have a link?
Home Depot skus seem like a neat feature that's fun to talk about, but is it actually useful in practice? Is anyone here using it regularly in their business? What else is everyone drooling over that might not be as sexy, but has been crucial to their success?
@Clay W. drooling....Is there a link? :)
FortuneBuilders 'Mastery Program' includes something like a 6 month free trial of 'RealeFlow' software which is $99/month sold separately ($600 value).
You could fork out the $40k for the 'Mastery' program, or just get RealeFlow for $99/month or there are other solutions available as well.
I saw where somebody said the money they ask for is a house. Put money down and use trial by error, write down mistakes lol. Somebody mentioned the contractor savings, good point. That is one thing. Software yep. The different type of bootcamps good stuff. Prices were 20k to 40k. That is only a few wholesale deals. If you break down each component worth it..reminds me of the seminar a couple of hundred people ran, yet they had phones that cost well over that. Like the person that goes 20k to 40k wow yet car costs more than that lol. Those who like it but truly can't afford it, brand new, get with local person to show you how to wholesale etc and use that money. I went Friday but wasn't able to go to Saturday and Sunday because of other out of state stuff. They are going to be not far from me coming up real soon then will sign up. Programs only as good as people using them, still have to put in work many dnt want to. I have a friend every program and still no deals. Many dnt make that in a year . not for everybody of course. I was like only a few wholesale deals worth. I had to look at it that way lol. That was the biz school/entreprenuer side lol. A friend said wow too much yet has a 70k car lmao.
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