Chicago REIA, Andrew Holmes
Investor · Lombard, IL · Member since 2015 · 11 posts · 11 votes
What do you know about Andrew Holmes-Chicago REIA? I heard that to join the inner group you pay $10K-35K depending on what level you want? Welcome all feedback.
Well from my understand after attending one of these 3 day events this is my opinion. This is my opinion only, typical sales pitch period. They get you in there talk about how easy it is to do everything with their help but it will cost you to join chicagoreia.org I heard they had 3 platforms. I'll break it down for you, if you have no experience I would recommend bigger pockets from the start go through all the podcasts that's a education right there. The pro webinars are awesome with all the info you need to make it big. (sorry don't mean to sound like a suck up on BP but the truth is the truth)
They are full on predators at this meetup meetings this is how it goes.
They have like 5-10 on there team they all speak and tell you how great it is and how you can make it big testimonials from everyone and their mother. They have crafted a good program because of the money involved well thought out period. Most of his information restructured he acquired from other people.
The reality is that almost less than 1 or 2 people actually use any of his programs to make money. Out of every class he signs up about 20 people when I was there and these were the costs:
* $10k for the basic program they promise to help with basically 1 property they give you, if they don't want it you get it, because its not a big enough profit for them so you get scraps.
* 25K middle program they give you a couple of properties minor hand holding through their pipeline to keep you happy (maybe if you dont get burned and loose money on the deal) before they disappear
* 35K for mastery this is the big upsell they let you in the inner circle like church of scientology your paying to be their friend and they have to funnel you deals that the top guys don't want first so they feed you some deals to keep you happy and hold your hand. If you watch you can see all his people whispering secrets on who to go after the weak ones.
They promise all the resources you need.
My guess is for every 3 day event he does which is 2 times a year and all the people they sign up outside of that he profits nicely I would guess somewhere around 75+ people or more a year averaging 20K a person makes it a whopping $1.5 million dollars or more a year plus all the inside deals with banks, realtors,syndications and anything they can stick there hand in to get paid. (that's the best real estate deal I have seen just taking peoples money for doing some classes for 2 weeks LOL. No investing no nothing just BS people to believe you.
This is why I feel bad for these people, they push all the people who have no money literally 0 dollars to charge everything on credit cards clear out their savings or cash their 401k plans to pay for this. I find this totally and without a doubt completely unethical and despicable. Also, I find it unethical they keep all the good deals and pass garbage down to their disciples. Most people don't say anything because they are embarrassed they were taken and done want anyone to know they got suckered. I did talk to a few returning people and did say that they did do something with the information they got so that was good. I believe the success rate of this program is less than 20% or so. They have secret side deals with the lenders, realtors that pitch and preferential treatment for property.
If you want to learn just become a PRO on here I was resistant at first too but I gave in and after I saw all the webinars and info I knew I was in the right place. If you want to join any GURU groups period, become a pro first here get all the info on here and then see if you think spending 20K on guru classes are worth it probably not after being on here.
I am apart of Andrew Holmes Mastery program and let me start off with this is a total scam. I had seen their ads for quite some time and read alot of really good reviews and all the success stories and had been to a few of the 3 day events to learn about real estate. Being in my early 20s I wanted real estate to be my foundation for my future. A few flips and some rental properties was my goal. Therefore, I ended going with the Gold plan which was about 20k, putting most of my savings towards this buy in. Gold package offered one on one mentorship and guidance and provided assistance and mentoring on the first few properties. Being new, I wanted the help of establishing my first property so I can have something as a foundation in real estate. After getting my first property, I was then told "You need to go out there and figure it out yourself" so all of the permits, insurance, etc I was left on my own to figure out. I ended up using a mastery known and suggested contractor for my rehab. He ended screwing me over big time with months of delays and going 20k over what was originally quoted. Now for the refi, needed to have really strong income and credit with plenty of funds in the account to show proof of funds, so after all that couldn't refinance either without bringing 40% of the property value to the table. The real value this group brings is private lending. Trying to find properties is another nightmare because the whole mastery is competing for them, including the big investors who take up the true deals. All in all, not worth it. Now I'm screwed with debt that a solid corporate job can't help me out of.