Is fortune builders mastery program legit?
Most Popular Reply
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.
316 Replies
- Professional · Columbus, OH · Member since 2015 · 119 posts · 37 votes10y
What is the old saying..."A fool and his money are soon parted"......
- Property Manager · Columbus, OH · Member since 2012 · 309 posts · 275 votes10y
The expectation was to pay tuition upfront - all $49,997 (for the highest level course).
Holy ****.
- Investor · Phoenix, AZ · Member since 2015 · 3 posts · 1 vote10y
FB was a great program when Than and his team were directly involved. Now I am afraid it is all about the money. My wife and I joined their Jumpstart program for $15K in AZ A good friend of my wife's joined the mastery program for......$15k in RI. If you follow their plan, your initial layout of capital will be another $15-25k, using the systems they have in place and their suppliers. Their mentors will respond by email, though seldom in a timely fashion. Do more research and talk to others before jumping in, it may work for you but was not what we needed.
- Columbus, OH · Member since 2015 · 3 posts · 0 votes10y
Originally posted by @Robert Ellis:
Would you recommend this as a good experience? Was their a cost to this weekend? I am also a local Columbus agent and have considered this. W
Overall it was a positive experience and they offered a ton of useful information. The cost for the weekend was $197 and attendees got to bring a guest for free.
We were on the fence about signing up, but I did not feel comfortable maxing out a credit card. I was told that I am financing my FB education by putting it on my credit card...
- Investor · Arlington, VA · Member since 2016 · 5 posts · 0 votes10yVery worth it. I'm a student.
- Investor · Phoenix, AZ · Member since 2015 · 3 posts · 1 vote10y
Glad to hear it is working for you. Can you tell me what your ROI has been to date?
- Flipper/Rehabber · Bayville, NY · Member since 2014 · 42 posts · 12 votes10y
FB is the thread subject that will never end.
My experience is that $50,000 spend on FB training is ridiculous. Ys training is important, but you can get just as good if not better here on FB or more importantly, at a good local REA. There are quite a few members of my association that took the big dive with FB and regret it. I can not say how they applied what they learned and that is always a variable in using other's experiences when evaluating a plan.
In my situation, I decided to spend my first six months educating myself and attending every seminar at my REA that was germane to my business plan. Do you have a business plan? if not, thats your fist BIG mistake. If you are going tp be in real estate then get into real estate and fully immerse yourself. I read Scotts books which were invaluable, I became a Realtor, I became a BPO Agent, and established a seven figure line of credit, I worked with contractors and established a program so I could value rehab costs, and I brought silent partners on board to help fund larger projects.
Results in less then 12 months:
1) purchased four properties
2) two are rehabbed and sold
3) two are going into construction
4) Started a project valuation service for investors to assist them with comps, construction costs, and establishing maximum offer prices based on AVR, Construction, fixed costs and rehab costs.
5) established a great team that includes accountant, legal, a great wholesaler and agents always on the look out.
My point isn't to toot my own horn (I guess I just did) but to demonstrate what can be accomplished by full immersion, education, planning your work and working your plan. This year my target is 9 to 10 rehab/flips.
By the way that $50,000 I saved by not going FB, just purchased a property for me. You will learn more by doing....so go do.
- Real Estate Investor · Glendale, AZ · Member since 2014 · 51 posts · 7 votes10y
Be careful of Local REIA, some of them try to sell their education as well. I was invited to a meeting excited by what they had to offer. It was my first meeting here in the Phoenix area. Long story short $1,900 for the beginning course or $20,000 for the full course. Now mind you that's down payment for my first property that I am looking for now. So I guess I'm not a serious investor because I don't want to spend that amount of money on a course.
- 10yDon KonipolBusiness MemberInvestor · The Woodlands TX / Avon, CT · Member since 2009 · 6k+ posts · 10k+ votes
I have noticed that the "sales systems" for these real estate to riches programs are much more sophisticated than ever before. I have always believed that the more money, effort, time and pizzaz thrown into the sales effort, the less value/quality the product.
Just because a few "graduates" of the program have been successful does not proof that the program itself is valuable or successful. First, there is the question of what percentage of people who go through the program are successful? If 10 people ar successful out of 10,000 who went through the program, parading and quoting those 10 is very misleading.
Secondly, some, or all of those successful people may have been successful because of other reasons, i.e. not because of going through the program. Third, it's human nature to want to believe that the decision to spend $50K was a good decision, even if there is undisputable evidence to the contrary.
- Flipper/Rehabber · Bayville, NY · Member since 2014 · 42 posts · 12 votes10y
Originally posted by @Gwendolyn Davis:
Be careful of Local REIA, some of them try to sell their education as well. I was invited to a meeting excited by what they had to offer. It was my first meeting here in the Phoenix area. Long story short $1,900 for the beginning course or $20,000 for the full course. Now mind you that's down payment for my first property that I am looking for now. So I guess I'm not a serious investor because I don't want to spend that amount of money on a course.
$20,000 is equally crazy; find another REIA. I am a member of Long Island REIA. They have a very good mentoring program. Its held as a class with monthly meetings and an earn as you go concept whereas the class works together on an investment. Also, they go heavily into other type of investments such as notes, MFR, and transactional lending. They really seem to be there for their membership's education.
- 10yDon KonipolBusiness MemberInvestor · The Woodlands TX / Avon, CT · Member since 2009 · 6k+ posts · 10k+ votes
@Bruce Dalis, Actually $20,000 is only 40% as crazy as $50,000.....LOL
- Real Estate Investor · Glendale, AZ · Member since 2014 · 51 posts · 7 votes10y
I'm going to abother REI Group Monay. Hopefully it's not the same.
- Investor · South Ozone Park, NY · Member since 2015 · 20 posts · 0 votes10y
Bruce Dalis can you please sent me some more details about the program you have mentioned.
- Regina, Saskatchewan · Member since 2015 · 3 posts · 0 votes10y
I've attend 3 days seminar here in Canada yeah everything works fine for me.. But I can't afford the mastery program its to expensive. The only thing that I interested is that I'm searching for something that gonna change my life then one night I seen that flip this house at A and E then I said to myself why not, anyway they open eyes to do more on real estate, the only thing that was happened to me from fb is that after the 3 day event I received phone call from San Diego and he spokes to me about wholesaling I said oh so I bought the like more than 4K Canadian $ I thought it was very ok but that guru who is my coach it's ok.
- 10yRoy N.Pro MemberRental Property Investor · Fredericton, New Brunswick · Member since 2013 · 7k+ posts · 4k+ votes
Save your money. Wholesaling in much of Canada, especially the middle of he Prairies, is not likely going to make you a living. Your U.S.A.-based "Guru" may not be aware of the differences between real estate markets (size, financing, mortgage delinquency/default rates, etc.), or simply may not care as they are selling an "education package".
You would be better served finding an established, successful, investor (flipper if that is what you aim to do) in Regina and offering your services to her/him in exchange for the opportunity to learn their process.
Start networking with other investors to find the person(s) you should approach. There are other Regina members here on BP who may be able to help you find a local real estate investor meeting in your area.
- Rental Property Investor · Rockford, IL · Member since 2014 · 4k+ posts · 2k+ votes10y
Originally posted by @Gwendolyn Davis:
Be careful of Local REIA, some of them try to sell their education as well. I was invited to a meeting excited by what they had to offer. It was my first meeting here in the Phoenix area. Long story short $1,900 for the beginning course or $20,000 for the full course. Now mind you that's down payment for my first property that I am looking for now. So I guess I'm not a serious investor because I don't want to spend that amount of money on a course.
Hi, Gwendolyn,
If you saw what I think you saw, that's not a "course" (it's not FB, either).
The beginning curriculum ("Essentials") is nine(9) on-line classes you can take at your own speed, about 80 hours of class time. Enroll in it once and you have access "for life" (as long as they remain in business), including all classes added or updated. It's on-line, so you don't travel anywhere, pay for lodgings and meals, etc.
The Advanced curricula (there are 6 of them, soon to be seven) are comprised of some 47 on-line classes, roughly 380 hours of class time if you took every class in every curriculum. Again, enroll once and have access "for life", including all classes added or updated.
As I see the new people - and some long-timers - posting here, I can just about quote which class, which segment and the time displacement into that class segment would have answered their question or helped them avoid an expensive mistake.
Education doesn't cost - lack of education costs. Just listen to BP's Brandon Turner tell his story in his recorded webinars. He started out uneducated about REI and suffered some big losses initially as a result. The education you saw could have saved him 10 times or more the tuition in his first few deals alone.
David J Dachtera
"Success is not a destination. Failure is not an event. Success is a process, failure is a choice."
- DJ Benedict - Real Estate Agent · Kitchener-Waterloo-Cambridge, Ontario · Member since 2013 · 408 posts · 90 votes10y
Originally posted by @John Zahner:
@ OP: BP is pretty anti-fortune builders. I joined Mastery in March. I've been to a few live events since then and my business is growing much quicker than a friend that also attended the 3 day event but didn't join Mastery. My friend decided to go the internet research route. Some people on this site don't understand what FB Mastery is all about. They tell you that you can find all the information that FB Mastery teaches on the internet, which is probably true. But then you have to consider what your time is worth and how many hours you'll spend researching different opinions, veting the sources, etc. To me time is precious since it's the one thing that we can never get more of. I spent my money on my education to learn proven systems from Fortune Builders Mastery. As a results I now spend my time doing deals instead of spending my time trying to learn the basics and chasing internet "experts". I'm sure I'll get bashed for this post from the anti-FB crowd but if you'd like more real info feel free to message me.
***All statements based on my personal experience. I do not receive any recognition or compensation for any of my statements nor is there any referral program offered by the company. I post because of how much FB changed my life and want others to have the same opportunity to change theirs if they choose. Your mileage may vary.***I think they are for some people not other great info but nothing I didn't already know. What your ROI so far on you initial investment and how long have you been in the program
- Rental Property Investor · Rockford, IL · Member since 2014 · 4k+ posts · 2k+ votes10y
Originally posted by @John Zahner:
@ OP: BP is pretty anti-fortune builders. I joined Mastery in March. I've been to a few live events since then and my business is growing much quicker than a friend that also attended the 3 day event but didn't join Mastery. My friend decided to go the internet research route. Some people on this site don't understand what FB Mastery is all about. They tell you that you can find all the information that FB Mastery teaches on the internet, which is probably true. But then you have to consider what your time is worth and how many hours you'll spend researching different opinions, veting the sources, etc. To me time is precious since it's the one thing that we can never get more of. I spent my money on my education to learn proven systems from Fortune Builders Mastery. As a results I now spend my time doing deals instead of spending my time trying to learn the basics and chasing internet "experts". I'm sure I'll get bashed for this post from the anti-FB crowd but if you'd like more real info feel free to message me.
***All statements based on my personal experience. I do not receive any recognition or compensation for any of my statements nor is there any referral program offered by the company. I post because of how much FB changed my life and want others to have the same opportunity to change theirs if they choose. Your mileage may vary.***Here's what most folks don't get about FB's Mastery: Their focus is on you building your REI business.
Now, that's certainly not a bad thing, and being able to use their "brand" as a franchisee might would have certain advantages.
I'd not recommending it for newbies, however. Their education is not as complete as I would like it to be.
I'd say folks should become educated FIRST (I can help there), THEN step into FB's Mastery if they want to be part of something of that flavor and on that scale.
David J Dachtera
"Success is not a destination. Failure is not an event. Success is a process, failure is a choice."
- DJ Benedict - Flipper/Rehabber · Orlando, FL · Member since 2016 · 311 posts · 150 votes10y
I will hold your hand and show you exactly what to do for $24K instead of $25K!
- Investor · Cypress, TX · Member since 2015 · 3 posts · 2 votes10y
FWIW, many of the tools FB offers online as part of their system in the mastery program is just a rebranded Realeflow.com portal. Including the repair estimator with imported HomeDepot SKUs. Luckily I did a free trial with Realeflow before I attended the 3-day seminar and noticed the Realeflow,LLC name at the bottom of a screenshot.
I still gained a lot of insight on asset protection and avoiding taxes, but I avoided the mastery program pitch. There's way too much info, support and tools on BP for me to justify the FB price tag. The "hustle" was way too obvious for me. Just my two cents.
- Long Beach, CA · Member since 2016 · 4 posts · 2 votes10y
I also attended the FB weekend session /training. I did learn some things I didn't know - but their 30K mastery price tag was way too expensive for me.
- Investor · Phoenix, AZ · Member since 2015 · 3 posts · 1 vote10y
From following this forum and personal experience the thing I find most interesting about the Fortune Builders Program is not the systems they use, but the variance in the price of the Mastery Program. Why such a wide range if not just to get your money? $15 k in the east to $49,997 in the west, and apparently everything in between?? And to suggest you increase your credit card limits so you can max out your card(s) is bad advice at any time, in my opinion.
Still, as with anything in life, you will get out what you put in. Spend the money and never use it, of course it won't work. If you are going to commit to any of these guru's programs give it a fair shot, I'd say at least a couple of years, before you condemn it or praise it outright.
Yes, you can read some books, talk to other investors, and get started with good results, just as you can do this and fail miserably. Everyone is different. I wish Bigger Pockets had been around when I first started and had the time to put in to this business; it is an invaluable source of information and I thank you for it!
- Derry, NH · Member since 2016 · 6 posts · 2 votes10y
There program is not worth anything in my opinion and everything that you learn there can be found here for free. Also they sell blank cd's to their customers it's purely a scam and I'm not one to judge but the whole selling blank cd's is kinda lame especially when they charge hundreds or even thousands of dollars. specifically their "Bizcredit" cd
I attended their 3 Days workshop last weekend. I highly recommend the 3 Days seminar for those like me, who have a tiniest inkling of an idea of REI, but never got a kickstart any other way. I have a nice-paying full time job, so there was little incentive to do that. Until now that my second child's born and sh*t just got real! (Life Insurance, College Education, Private Catholic School my first-born is attending, and hence my second too).
I interviewed (3 times total) for the Mastery and had just enough for their Platinum level, price tag $30,000. The Diamond is $35k and Inner Circle is $50k. Between the interviewing sessions, I googled Fortune Builder Mastery program and ended up on BP forums . That's how I found Bigger Pockets!
Their sales pitch was SOOOOO convincing. The salesman "Mastery Coach" really knows how to connect with you on a personal level and tap into that emotional impulsive spending side of you. I was on the fence for a while but then I went with my gut and DECLINED. They wanted everything up front and no financing/payment plan was offered, that is very fishy to me, a BIG RED FLAG.
With that said however, I will register for my wife to go to the next 3 Days session, because I think we can benefit from both of us knowing what we're getting familiar with the next phase of our lives. I think they have a very good list of condense information in one place for the price tag of roughly $8/hr. Their daily session is 9a-6p.
Thank you for the members' postings that helped dissuade me from what would've been a very expensive mistake!
*FOREVER GRATEFUL to BP*
I am attending to their 3-day seminar now and currently at the 2nd day. If I haven't listen to Brandon Tuner's audio book on "The Book On Rental Properties", I would really think their seminar is informative and very motivate to get someone go start their real estate life with them and sign up for the $50k Inner Circle Program (for 6 business people). However, because I have listen to Brandon's book and have list to the BiggerPocket's podcast, I noticed most of their info were cover in Brandon's book and the podcast (as well as in many of the articles in BP). I am agreeing with BP, many info what they are teaching can get it for free from BP or much much less cost from some real estate book. And the calculation form they offered in the "Mastery" can be found FREE in BP's form that upload by other members (calculation format and details are somewhat different, of course)! That $50K can be saved and use for someone's next deal!
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