Is fortune builders mastery program legit?

Real Estate Guru, Book & Course Reviews and Discussions 266 Replies

I attended the 3day FB seminar in Houston. I thought it was really good! I am considering doing the mastery program. Has anyone been through the program? If so, is it worth the 25k?

Keri, fortune builders has been covered a few times if you use the search function. It depends if you think it is worth it.

This will mostt likely spark a debate about money mongering gurus and people that believe in coaching.

Ultimately you need to do your due diligence and make that choice.

P.S. I'm a KHS alum!

Medium facebook profile logoSam Craven, Senna House Buyers | [email protected] | 832‑722‑4815 | http://www.SennaHouseBuyers.com

Thanks Sam! I tried to search it and couldn't find anything recent...only from like 2008. I would love to talk to some that went through the program...believe me, I have done my research, just curious if people liked it. I am sure there are lots of opinions.
My husband taught govt. And coached bball at KHS probably when you were there.

$25k wow that is a lot of money. I haven't even spent that much in education in the past 5 years in the business. Are there any local mentors you can try first that specializes in your market?

i was contacted by FB about their coaching and they wanted me to call my credit card companies to get my credit increased so I could pay 3k for their program.

Monica,
I am just starting out and do not have a mentor. Plus they offer to streamline a lot of the systems and marketing. I would also be splitting it with a partner....

First take $1K and:

- Join your local REIA, attend regularly and talk to the people there (~$150 - $200/year)
- Take some friendly local investors out to lunch/dinner/drinks ($50 per "date")
- Buy some good RE investing books ($5 - $20 each, used or new)
- Pick up a few well-regarded guru courses used on Ebay ($100 - $200 each)

That will give you big head start without having to throw $25K at something that may or may not be what you're looking for.

Medium 2014 09 15 19.18.03Tom A., Metro Detroit RE Investors Meetup | [email protected] | https://www.facebook.com/groups/MetroDetroitRealEstateInvestorsGroup/

Use google search and type into the search box:

site:www.biggerpockets.com fortune builders

The search box at the top of the BP forum screen is very ineffectual.

$25K is a staggering sum, please think twice, or three times! Find a mentor, as Monica suggests, at your REI meeting. Read inexpensive books, read BP, network!

I have to share this:

At a garage sale in Florida this year I found a Carleton Sheets program (CDs, Videos, Books) all in the orginal packaging with the plastic still wrapped around it. The person had a price of $6 on it, talked them to $2. Then went through the stuff and sold it on ebay for $18.

This site is generally anit-guru. I have heard some of Than Merrils materials and they were nothing that impressed me.
These guys running tv shows and selling mastery programs on the side are a bunch of jokers if you ask me.

I'd learn what you can for free and then spend a lot of time on Biggerpockets. There's great people here that could be guru's if they wanted to, but instead believe in helping others in the business without getting an absurd amount of money.

You can learn just as much from a $600 guru as you can from a $25k guru. Once they have their money, you are generally worthless to them.

Figure out what focus you wish to have in your investing and attend a local REIA. Get cards and take some successful, full time investors to lunch and see what you can learn.

Also, send a message to Joshua Dorkin, asking him when the next BP summit will be, and mark your calendar.

I'm not saying don't spend money on a guru. What I am saying, is, in my honest opinion, spending an amount anywhere near where you are is extremely foolish.

Go on ebay, scoop up the 2011 courses if you want some content. They're like 99% off the current prices. Also, if you want to be successful, get local mentor and strongly consider compensating them for their help. It will likely be worth more than the gurus if you pick the right one.

Also, for $15, you can scoop up a great RE book by Rich Weese, From Janitor to Multimillionaire. He was the guru before there were gurus.

"- Take some friendly local investors out to lunch/dinner/drinks ($50 per "date")"

I would add to this to take out investors that SPECIALIZE in the type of real estate you want to get into.

It does you no good to spend time say for instance with people that flip mobile home parks if that's not what you want to learn.Sure I always read up on different niches to see their take on it an dhow they have been successful with that strategy but I don't go too deep with it.

If you have no clue what niche you want to be in then yes take out different investors to get a guide on what you want to do.

Just like real estate brokers and agents entering the business you have to FIND YOUR WAY and pick a path to go down.Once you have a successful stream set up and going then you can look to add another niche you like if you want.

Medium allworldrealtyJoel Owens, All World Realty | [email protected] | 678‑779‑2798 | http://www.AWcommercial.com

Tom A. offered some great advice.

Thanks for all of the advice! Anyone free for lunch? He,he

Between BiggerPockets and Google, there is absolutely no need for anything that costs this much. One benefit to a program like that is all the information "is" organized and in one place; however, let's put Benjamin Franklin's saying of "a penny saved is a penny earned" into effect...

You spend 20 hours researching on BiggerPockets, and searching on Google. By doing this, you are "saving" (and therefore "earning") $1,250 per hour ($25k/20).

To me, I'd gladly sit in my underwear at my computer, maybe make a few phone calls, if I knew I was essentially earning $1,250 an hour.

Obviously, if you can gather all the available information out there in less time than 20 hours, you're "earnings" rise that much more.

I have read about them, and have seen their "Flip This House" series but never participated.

Between some basic books that help with the "general feel" of real estate investing and this site I would be hard pressed to think that spending anywhere near that amount would be generally beneficial. I haven't had the opportunity to sit over lunch with someone in the market yet but this site has helped get me started and helped me "fill in the blanks" that books gloss over, and that you may not get with a $1000 course, let alone a 25k course. "How to bulletproof your rental,"-none of my books have that!

FYI, I just googled FortuneBuilders and looked at what one of their reviewers said about it. That they were excited and motivated and inspired...I felt that way after the BP Summit! I guess I saved a boatload...

Now if anyone has any FB materials then I would gladly peruse them...LOL!

I was at this same seminar. Glad I followed my instincts and did not purchase their program. They seem to be legit but in my opinion it is extremely over priced.

Oh I read several reviews which said a few weeks after attending they received an discounted offer for the program.

At the BP Summit, I met a lot of nice investors from Texas. I think you can learn a lot and save even more by contacting some of them. Good luck. mck

If you want to invest $25K into rehabbing education, here are two better suggestions:

1. Find a low priced house in your area that seems like a reasonable deal based on some simple analysis techniques you can find here on BP (let me know if you need a link). Buy the house, rehab it, and resell it. Make lots of mistakes along the way. Write down your mistakes, share them here on BP, and get input from us on how not to make those same mistakes in the future. In the end, you may make a little money, you may lose a little money, but its safe to say you wont lose $25K and youll learn more that you would have through a high-priced seminar. Do it again. You'll lose less (and probably make money) the second time around. Then do it again. If you don't make money by the third time, you're probably not cut out for this business, but you still shouldn't have lost more than $25K along the way.

2. Take $3000 to fly to Atlanta and get a hotel for 2 months. Pay me $20K to teach you my "fortune builders" program. You'll save $2K and get a vacation out of it.

Btw, that #2 suggestion will probably work with other investors as well, so you don't necessarily need to be stuck with ME for 2 months. :)

Medium lishproplogoJ Scott, Lish Properties, LLC | [email protected] | http://www.123flip.com

HOLLY COW!

I can do it in a month of intense, one on one, bring your calculator!

LOL

Tom A, has good advice up there but first, go to a state real estate broker's school and learn the laws, basics and market in your area. It's the quickest and best RE education for the money, you don't need to take the test, or you could....depending on what you want to do.

There, I just saved you $24,000.00!

Medium logoscopiccroppedblue2Bill Gulley, General Real Estate Academy | https://generalrealestateacademy.com

You have been given some solid advice. If you take Tom's and Bill's advice and learn about the markets you want to participate in you would be something quite unique :

A newbie wholesaler that can actually purchase the property.
That is assuming wholesaling is a course you want to follow.

Spend money on education but don't waste money you will need to be successful.

I don't understand the need for all this intense evaluation. The name alone tells you it is an overpriced program teaching elementary outdated basic techniques and promising you results you will never achieve. LOL

Medium pmfDon Konipol MBA, Private Mortgage Financing Partners LLC | [email protected] | 8325778838 | http://pmfpartners.com

I bought there 2000 course on ebay for 121. The rehabbers course, wholesalers course etc.. Some good info there, but not worse 2G. I dont believe in their outrageously priced bootcamps.Take those thousands of dollars and use them for your downpayments on real estate! With all the info on the net, googling should be your best friend for info and bigger pockets is the best forum on the net I have found to answer questions. Save your money; fortunebuilders is just building a fortune for Than Merrill.

I attended the FB summit in Milwaukee, WI last weekend. it was an intense 3 day event from 9am-7pm Friday-Sunday. I interviewed for the "mastery" program. You're paying really for all the systems that they have, documents, and contracts, and contacts. Great in theory.....funny thing MAJORITY of what they were teaching I read for FREE in a book from the library called "No Money Down" and what i've read from spending time on BiggerPockets!!! :D I did not purchase the $25k mastery program and received an email the next day from someone who wants to talk to me about another offer.

Funny thing about this 3 day event I went to...there was a pre-screening event in Milwaukee a few weeks ago. I went on the last day and they offered this event to us for $200 saying it was worth $1100. My friend went the day before me and they were offered the 3-day event for $1400 claiming it was worth $2800. They made FortuneBuilders and CT Homes made $17million last year and yes they do good work, however a lot of the $17 million made came from the educational side of the business, selling the "mastery program" to put it simpler...inorder to make $17 Million in just rehabbing and flipping you would need to make:

$50,000 NET profit every single day for 365 days a year...that would equate to $18,250,000...just a little food for thought ;)

Keri,

I attended the three day event here in Dallas in Feb. I received a call stating that they would give me a 8 week jump start course for 5k. I did it, completed it a month ago. Guess what? I literately only received weekly calls from my "mentor" whom covered the three books I was sent in the mail. That was it!

Although I enjoyed my mentor, the material and her calls did not advance my position any most importantly you should know that this program did not educate me any more than I already knew. The local REIA meetings provide more benefit and information than fortune builders.

I do not like to put negative info out about companies but lets face it, this company is making their fortune on "want to be" investors not actually training them. Still to this day the only thing fortune builders did for me is review everything I already knew. They do over promise and under deliver!!! As I was promised access to their funding and never got it, I was also promised tickets to their boot camps and training seminars that I have never received. All I have to show for my 5k is 8 30min phone calls with some woman I have know idea who she is or what she looks like and three poorly put together "manuals". The manuals are literately transcriptions of Than's internet training videos. I truly had high hopes for the program it really let me down, the worst feeling of all is i spent 5k and have nothing to show for it!

Ryan M. This was a good share gave me a chuckle and says it all:

Originally posted by Ryan M.:
I have to share this:

At a garage sale in Florida this year I found a Carleton Sheets program (CDs, Videos, Books) all in the orginal packaging with the plastic still wrapped around it. The person had a price of $6 on it, talked them to $2. Then went through the stuff and sold it on ebay for $18.

As far as the OP. Think of it this way. At $25,000 a head, how big is the FB portfolio right now? I don't know much about them but I would guess they own less then 1 investment property. Folks that sell coaching crap are in the business of selling coaching crap not actually working in the business.

You can take your $25k and find an experienced guy/girl to team up with. You will have an opportunity to learn and make a return in concert with your capital contribution. As stated above you can find folks to network and "interview" at local clubs, associations and groups.