Why Not Pay Fortune Builders?

Why Not Pay Fortune Builders?

Euless, TX · Member since 2015 · 10 posts · 12 votes
I just spent 3 days at a Fortune Builders seminar as a newbie. It cost $100 each for me and a friend. I feel I got more than $100 value from it. Highlights: Forming my LLC in Nevada because of the stronger corporate veil laws The tax advantages of owning nothing and controlling everything with Solo 401(k), revocable trusts, etc. How to use leverage to obtain assets and turn around and make money repeatedly with the same process. The highest level of Mastery includes local walk through's of properties being rehabbed, daily 11 hour access to coaches to review your deals, boot camps for intensive, hands on, training for the top areas in REI. But more than that, a turn key rental club, lifetime access to all of the online training (regularly updated), marketing systems, forms and checklists needed to automate your business so you can work on it, instead of in it. A large network of investors for lending, buying and advice. If you buy any level of the course, it is a tax write off for your business and you could pay for it in a few rehab flips. I saw questions on checklists for repair estimates and hiring contractors that would take me a very long time (if ever) to figure out doing self study and asking questions of working investors who are busy with their own businesses. Mastery provides the training and business systems and deal support that will give you a quick start. You have lifetime access to create things like buyer packages and direct mailing campaigns with a few clicks on your laptop. It seems to me that anyone who is truly motivated could succeed easily without paying (literally and figuratively) for newbie mistakes. As a person over 50 who is lacking in retirement I need to get started quickly. I don't have the funds or credit to join Mastery now, but I want to to the training eventually. My question to the forum is "Why is a guru system like this considered a bad investment?" Thanks in advance for your comments. PS - I am not associated with Fortune Builders. I went to the seminar this past weekend with a negative bias after reading about them here. When I saw what they offered, I was impressed and confused by the BP forum comments.
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Residential Real Estate Broker · Crystal Lake, IL · Member since 2012 · 124 posts · 94 votes
9y

Where to start... After reading your post this product sounds like 1/2 dozen others that I have already heard about.

It sounds like the $100 might have been well spent, because it got you and a friend to start thinking about financial freedom and opportunities. 

The "tips" you picked up are nothing more than what I have read in $20 "Rich Dad" books I picked up on Amazon... and BTW the whole Nevada LLC thing has been contradicted by every attorney I have ever mentioned it to.

If the program can pay for itself after "a few flips" -wow that is a lot. "A few flips" just to break even is no small task. I mean if a flip is $25,000 profit a few flips is $75,000- how long does it take you to make that much usually? Flipping houses is not a magically lucrative job, it is real work.

I would guarantee the info you would receive with this program is nothing more than you could find on this website, plus a few books. The networking opportunity that program provides, that can add value, but again networking with the right people is something you can do for free!

The ideas and info are not worthless, but they are practically free from other sources.

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  • Investor · Willow Spring, NC · Member since 2009 · 5k+ posts · 3k+ votes
    8y
    Originally posted by @John Webster:

    chris Martin what are you taking about? You said guy only did 30,000 units last year. That is thousands right? Lol. If he did 12 billion plus he should be a billionaire at least two times. People always say well I know a person but can't name more than a few. Nothing is 100%. Is your friend on bigger pockets if not proves my money I said nobody on here not in general.

    It is clear you didn't comprehend my post or the links in it. This is my last post on this topic. Good luck on reaching 1000 flips a year. 

  • Greg H.Pro Member
    Moderator
    Broker/Flipper · Austin, TX · Member since 2013 · 4k+ posts · 4k+ votes
    8y

    @John Webster

    So I have only been doing this 28 years or so.  I have adapted and changed my approach dozens of times based on market conditions and dozens of other variables.  Their is no system or teaching that stands the test of time or location as things change and every market is different. Heck, EVERY deal is different

    What to flip houses? Most importantly, learn how to problem solve.  Construction knowledge whether you lift a hammer or not matters.  Double then triple check and then check again your numbers

    In many many areas of the US, you can by 1,2 or 3 properties for $50,000.  The experience gained by doing a project or 2 with that $50,000 is infinitely more valuable

  • Jay HinrichsBusiness Member
    Real Estate Consultant · Summerlin, NV · Member since 2014 · 45k+ posts · 66k+ votes
    8y
    Originally posted by @Chris Martin:
    Originally posted by @John Webster:

    chris Martin what are you taking about? You said guy only did 30,000 units last year. That is thousands right? Lol. If he did 12 billion plus he should be a billionaire at least two times. People always say well I know a person but can't name more than a few. Nothing is 100%. Is your friend on bigger pockets if not proves my money I said nobody on here not in general.

    It is clear you didn't comprehend my post or the links in it. This is my last post on this topic. Good luck on reaching 1000 flips a year. 

     LOL  this is cute !!  Lennar probably should be a billionaire or maybe their stock holders..  I just need them to stay in business  a few more years as I have a few projects lined up I want them to buy.. :)

  • Member since 2018 · 1 post · 0 votes
    7y

    Tina...I went to the three days seminar

     I have read your posts

    ..What did you decided?

    If you went through their master programs, what was your experience?

    Thanks

    Roberta

  • Rental Property Investor · Member since 2019 · 48 posts · 38 votes
    7y

    Interesting story on the subject of Fortune Builders and the value of their material:

    I recently came across a nice gentleman in San Francisco who is successfully buying distressed properties and doing one of two things with them: A) building pop-tops (adding a 2nd floor to a 1-story property) or B) demolishing existing distressed residential structures + building a larger new home in its place from the ground up. He buys at $150/sf or so and sells for around $300-500/sf. Good on him I thought.

    Over several conversations, he discovered I was an active learner and an even more active investor and told me how he and his brother paid nearly $50k to Fortune Builders which he suggested could be a good source of information for me. I suppose it could be but I'm not a feed-me-my-lessons kind of guy but rather a learn-by-experience kind of guy. I need to make my own mistakes since no one ever learn lessons from success. Anyway, eventually he offered me free access to FB by giving me his login and password to access their materials if I agreed to invest at least $xxxxx in one or more of his construction/ re-construction projects.

    End of story, I am continually surprised how many people are out there who do these kinds of things. I guess it should but it never ceases to amaze me how unethical folks behave for a buck. Gives the rest of us a bad name.

    Anyway, sorry for the sidebar, just thought I share in case others have run into situations where these expensive seminars and materials are themselves leveraged. Makes you wonder what other rules they're be willing to break.

    //adam

  • Charlotte, NC · Member since 2018 · 8 posts · 0 votes
    7y

    I have been to the seminar and was very impressed with how well they presented tips and a snippet of some of the systems that they use to find and acquire deals. Most are not going to want to invest that type of money into the Education of learning to do what many of us already are doing. Fortune Builders was a more streamlined process vs. Learning/ Developing on your own. I still have my notes from 5 years ago. I wouldn't throw them away. In my opinion anything that will motivate and point you in the right direction is an Investment. How much are you willing to pay???

  • Member since 2019 · 2 posts · 2 votes
    7y

    I've read most of the replies to the original post about Fortune Builders. I purchased the program Memorial Day weekend 2019. I'm like the original poster, I'm 50+ with little retirement and have been interested in REI since the Carlton Sheets days (yes, I purchased his course more than 25 years ago and never put the information into practice!). I bought in at the lowest level, $30k. I've attended two boot camps, had two coaching sessions, and am a member of a private FB Facebook group where you can learn a ton reading about others' wins and losses. The thing I am most impressed about with this program is that it is systematic. It provides a system, coaching, forms, videos, articles, deal analyzers, spreadsheets, all which helps you organize your business and have everything under one roof. Sure, you could piece the info together from various resources and save ALOT of money. However, if you follow the process, you will make the $30k back on one or two deals. Then the rest is yours and you build on what you've learned.......they teach you to be an Entrepreneur, not a technician. I want to work on my business, not in my business. For those of you who have accomplished the without paying a small fortune, Kuddos to you! However, I was paralyzed with an irrational fear for over 25 years, access to this program helped me conquer that fear. I am confident that within the next 12 months, I will earn the money I paid for the course and the course will pay for itself 10x's over. Now, on a more negative note, I will say that once you buy in........they do ALOT of up-selling of additional products. I have evaluated every product they introduced and decided if it's something I need or can I find the information elsewhere. Everyone is unique and has different life goals. What works for one, may not work for someone else. REI is not for the faint at heart. It is very hard work.......at the end of the day, you'll get out of the program what you put in. You have to put the work in! I don't regret my purchase into FB Mastery and I'm excited about building my retirement, teaching my sons the strategies I'm learning and leaving a legacy so they won't have the financial struggles I've had in my lifetime. Thanks for allowing me to weigh in!

  • Dylan TanakaPro Member
    Real Estate Agent · Detroit, MI · Member since 2008 · 455 posts · 178 votes
    7y

    @Trina there are tons of networking events in Texas both free and low cost. You can meet real local investors there who may exchange mentoring for help you can offer their business.

    FB is looks great on paper but if you're a go-getter just find the local REIA's and networking groups.

    I have some personal contacts in TX if you want to private message me I’ll share them with you.

    Congrats on taking your first step. Just make sure that your second is the right one for you.

  • Member since 2020 · 1 post · 0 votes
    6y

    I spent $50k to join fortune builders a little over a year ago. The quality of people I'm surrounded by & have learned from as well as the money I've made in both active & passive real estate strategies I learned in this network has completely changed my life and this is just year one. As a single mother I now know I'm building a legacy of wealth for generations to come. 

    In addition my 14 year old daughter has attended 2 future fortune builders classes which teaches teenagers all of those things about budgeting, compound interest,  owning a business & endless other aspects that many people go their whole lives not ever being aware of.

    The $50k education includes 6 members so you can combine your funds with other peoples to save money and learn the same content. 

    Anyone who is super negative & pessimistic please do stay away. Our amazing network that helps eachother grow & we don't need your energy.  This education & the opportunities that come with it are real deal & you likely won't be a good fit to join our team... just being honest! If your attitude is too bad we have seen Than give people their money back & ask them to leave.  Not all money is good money & we put a high value on protecting the integrity of our Fortune Builders Network. 

  • Ian WalshBusiness Member
    Lender · Philadelphia, PA · Member since 2016 · 2k+ posts · 1k+ votes
    6y

    It really depends on what you are going to do with the information.  Are you going to apply it?  Do you have a plan with what you are going to do with it?  If yes, then it can certainly back out in being a net positive.  If you are going to just 'add to your education', then I would rethink what you are doing.

  • Member since 2020 · 1 post · 0 votes
    6y

    Hi Trina, 

    Did you decide to purchase the Mastery program from FB at the end?  I am in the process of interviewing with their representative to purchase the Mastery program since they are not able to have the 3-day conference now and interested to know what is your decision after the post 3 years ago. 

    Thanks, Shelly 

  • Member since 2021 · 1 post · 0 votes
    5y

    FB is really expensive knowlege sharing.

    On that topic, here's a nice tool they have on their site

    https://www.fortunebuilders.co...

  • Member since 2024 · 5 posts · 0 votes
    1y

    Want to get into wholseling have good credit

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