Value vs Scam Program

13 Replies

Hello my name is Bosko,
I have currently been going to a workshop all weekend as a guest with a coworker. (He paid $1100 for the workshop) We are in St, Louis, Mo. The seminar is by "Response". They are based in Lindon, Utah I believe. Anyway they have proposed a continuing education package that is 25k but me and my coworker can split it. just got into investing earlier this year and have only done one deal which was a flip and I profited a great sum from it. What's included in this package is connections to lenders and investors, mentors, some sort of boots on the ground in 4 weeks, a expo in Las Vegas and access to tools on their website. Apparently they will be doing deals with us, helping us find them and funding them. Has anyone ever went through a workshop like this? Thanks so much and I am glad to be apart of the BP community now as this is my first post!!!!!

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this is a typical Utah based fulfillment company..  keep in mind lenders and mentors don't magically appear since you paid 25k.. you can find lenders in your local market just google them..

not saying you could not get some value I am not anti paid coaching but these vegas events tend to be pitch fest with up sell at every turn

@Jay Hinrichs yes I noticed there is multiple real estate coaching company's based out of Utah... might be all the same company under different names to protect themselves 🤔

Before I even finished the original post the fact that you said they’re based out of Utah Had me thinking guru.

Everything you just listed, can be found using BP and other websites for free or much less money than 25k. 25k will buy you a house in some areas.

Like others have said it’s definitely not worth the money

there are at least 12 backend fulfillment companies in Utah that are the back end for virtually every real estate training program in the US.. its a HUGE business and most gurus need them .. its a ton of up front money to put on these events.

but its not only real estate guru's its sales training guru's  motivational speakers etc etc.. like I said this is a HUGE business and for whatever reason Utah is ground zero for all but I think rich dad which is based out of FLA

@Bosko Mijatovic All I can say is there is something that happens psychologically with people when it comes to payment for service. People have a tendency to believe that there is a definitive connection between the cost of something and the value that it holds. They begin to justify that it must be worth it if they are charging this much money. 25K is a lot of money to put up and that could be a down payment for a property, which will be the real schooling you need. There is no education that will compare with actually purchasing a property and seeing what it takes to maintain/operate it and be successful in doing so. 

I just want to thank everyone to get me to think rationally about this, I am going up there today for the final day and even though my coworker is purchasing it I will NOT be. I don't think it's a bad idea to pay for coaching and education but I also can't just trust this company and think that they will give me 100% GOOD education and GOOD coaching/ mentoring for 12.5k (if my coworker and I split it). The funny thing is they actually get you approved for a line of credit with 0% interest for 18 months to actually pay the cost of the program.

Originally posted by @Bosko Mijatovic :

I just want to thank everyone to get me to think rationally about this, I am going up there today for the final day and even though my coworker is purchasing it I will NOT be. I don't think it's a bad idea to pay for coaching and education but I also can't just trust this company and think that they will give me 100% GOOD education and GOOD coaching/ mentoring for 12.5k (if my coworker and I split it). The funny thing is they actually get you approved for a line of credit with 0% interest for 18 months to actually pay the cost of the program.

I reckon your coworker would get more out of: learning from you!

ie. Teach him how you "profited a great sum"! Likely, you've already had more experience with just that one flip, than many of their so-called mentors!

(And you'd only charge him half that much, right?)

I believe he'll find that the lure of "connections to lenders and investors" will be largely a crock, interspersed with switch-and-bait upselling.

Like Jay inferred, anyone's own "connection to Lenders" is already just a google away!

And as for "connections to Investors", I reckon BP, and your local REI meetings, have them beat!

Once he hands all those dollars over, it'll be too late to realize that they don't have magical super-bargain properties on offer. [Because, any profit to be made out of them has already been skimmed off, by them!] And, any Lenders that they put him onto who will allow him to borrow more than he would normally qualify for, will be at Hard Money Interest Rates anyway (which he could already get through {yes, that's right}: google)!

Does it make sense, in the cold light of day, to think that they've really got these fabulous bargains, reserved for just the select few who are happy to start off with a minus $25k balance?

When you boil it down, what unique value are they really offering? "Boots-on-the-ground" training? Sure, that might be worth about the same as what your coworker already paid for your weekend. But $25k? No way! [Well done for not following through yourself!]

Please, ask your coworker to save his money. What for? To invest directly into good deals! 

You wrote: "The funny thing is they actually get you approved for a line of credit with 0% interest for 18 months to actually pay the cost of the program" - which in my mind, adds insult to injury! ie. It's like they're gloating about the gullibility of those who would fall for such a scheme/scam!

Disclosure: Pro Member

Bosko M., think long and hard about spending your hard~earned money on ANYTHING. You are leaps ahead of most people in that you are here on BiggerPockets. The information & wisdom here will make you wealthy.  "If" you put this information into action.  :)

Best of success to you!   $$$

714-470-4152

Just go get a degree focused on real estate or finance instead. The higher quality education you get the better connections you will have FYI. I also refuse to believe that people actually fall for these guru seminars or what ever they want to call them. . . It’s all based on the premises of getting rich over night... lunacy

I will bet dollars to donuts the 18 month 0% is a credit card with teaser rate.

or the guru has bought down financing rates from a unsecured lender.. which they pay for out of your 25k.

Wow I am truly so thankful for everyone's replies, I wish I got started on BP months ago. I am currently sitting in the workshop on a break, I can say that the workshop HAS changed my mindset on real estate. My current mentors are flippers who do MOST of the work on their own. They are still successful doing 5-7 houses a year. BUT there is a lot more to real estate INVESTING than just rehabbing houses. I'm looking at DEALS and numbers now more than ever! I am very excited and I hope I can bring something to the BP community!

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