Heads Up Chicagoland! FortuneBuilders is coming to town!
Let me start off by saying that I have NO connection with FB or Than Merrill whatsoever.
Many folks come here looking for "free" education. Well, here it comes, like it or else.
Than Merrill will be all over the TV channels this week and weekend, probably next weekend, as well.
FORTUNEBUILDERS IS *NOT* AN EDUCATION PROGRAM!
Sure, some folks may hear a lot of things for the first time at their three-day upsell ... er, I mean "boot camp". That is NOT the primary purpose of the event. It's three fairly intense 9-hour days with inconvenient lunch breaks, and yes - there is a fair amount of "persuasion" which goes on. So, those looking to find out what they need to learn will want to take the best notes they can while "drinking from the fire hose". They charge $197 for 27 hours with their presenter, of which roughly two-thirds of that time is devoted to education. So, $197 for 18 hours is a little short of $11/hr.
FortuneBuilders is primarily for established investors who are looking to take their investing from a part-time hobby or side-line to a full-time business. It is, perhaps, best thought of as a sort of "franchise" arrangement where you pay a "franchise fee" to the tune of circa. $40K to gain access to their "franchisee" training, materials and limited rights to use their name and trademarks in promotional items and such in your investing business. You'll still be independent business owners, however, just like any other franchisee, with certain limitations.
Their organization does not, however, seem to have an affiliate arrangement such as the one I'm connected with. Again, their education is limited to the practices and techniques Than Merrill and Paul Esajian use in their REI business. So, it's a bit limited and not as well-rounded as one might like.
Also, FB does NOT have local investor communities or support groups. You're still limited to what ever REIAs you may choose to attend and any fellow FB'ers you may find there, if any. The support they do provide you must travel to attend. Most of it is out west.
FB does not offer financing for their program (most franchisors don't) or funding options for your RE deals.
Well, there you have it. They will provide you with training on the practices and techniques within their business model. That's it.
Even though their TV spots talk about changing your life and building your future, understand that newbies will still need a well-rounded education in REI to be as successful as they can be.
Yes, I've done the 3-day, but not the "Mastery" program (franchise program). Having allowed them to pitch it to me at great length (I was one of their "nightmare" attendees), I concluded that it was not suitable for me at the current time.
Now, take aim in my direction. Ready? Fire!
David J Dachtera
"Success is not a destination. Failure is not an event. Success is a process, failure is a choice."
- DJ Benedict