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Disclosure: I wholesaled a house to them once.
I don't know about the program but they are legit rehabbers. CT Homes (As seen on TV) are one of the biggest cash buyers in San Diego, CA. They are flipping anywhere from 10-30 homes a month. I wholesaled a deal to them a couple of years ago. They helped me through the process and I made $10K. Maybe I should have bought their program then but I was going to school and working full time as an apprentice electrician at the time the money was much needed. Now I'm back trying to find deals and the market is really tough here. I wish I knew then what I know now after 3 years of research on Bigger Pockets. I think there is enough knowledge in these forums to get what they are teaching for free. The mentor-ship might be worth it though I can't say.
@Keri A. If you think it’s worth it. Due your homework before you do. I know someone who spent 50k with them and didn’t get anything from it. I personally would not pay 25k - 50k for whatever they teach you. I wish you the best
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I can think of a lot better things to spend $25K on. I️ wouldn’t do it!
With 25K you can get a loan on a $100000 4-unit here in Ohio. I have a 4-unit that cost $67,000 that cash flows $800/month. I think you should take that 25k and buy a couple of books, listen to the relevant pod casts on bigger pockets, join REIA, get some property management software (we like buildium) and then buy a property that cash flows. You'll get up to speed really quickly once you get a property.
I just finished the three day seminar with my wife yesterday and we were interviewed for the mastery program. Strangely enough the guy asked us to call our credit card companies to increase our credit limits so we can afford the program. We were on the fence but quickly googled and came to this site in between our interview. After reading several reviews we have decided to use the resources on here and hopefully use the $35K as a down payment for our first deal. We are new to this so I will checking back to report on progress!!
I did it.
All programs in my opinion one should look at the roi. If companies are charging 25 to 50k. majority say that is alot, if you think they can help you do enough deals to make that back. They allow you to have several people part of the program that way you don't have to pay it all alone. Besides it is a tax write off. Many spend more than that on college just to take mainly a lifetime to pay it back, horrible roi. People always say books, cheaper ways but those people have done 0 to few deals lol. Fortune builder's great, I know of a competitor close to same price but they give you a coupon book to use that would save thousands on deals etc and unlimited boots on the ground unlike fortune builder's. They have events where they bring you deals and find it, half for rental deals with tenant etc. Didn't have money when they came before, if they come back I will join if not will join fortune builder's when they return with some people. To save more.
i am not affiliated with any of these gurus. I went to a seminar for fb a couple hundred bucks. It is funny seeing people complain that. I saw many run out. Funny thing most of them had the iPhone 8 way more than a 3 day training lol. I think many of them have no money for the trainings because all their money is going towards being cool lol. All about value for. Depending on your goals just want to do a few flips local groups good..massive empire gurus can get you there faster. They are alot more successful than local group members. Some are scams so yeah do your research. Most dnt want to work a job, yeah local people can help with that. heck You can wholesale and make great money.If you know places to look.. Majority dnt. You guys are awesome. Take care later
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July 1, 2018- I went to the event and it costs $197 for 3 days. 20% of the time is a promotion of the higher tiers program ranged from 30K to 50K. Their team will lure you into using your credit card to pay the $30K to 50K upfront 100%. No, I have no access to any of their calculator/template/spreadsheet/software unless I pay the $30K level ( 6 month worth of access). So I decided I would not take it. I do not see why it is "ethical," when they know people who already in credit card debt ( because they give me the "budget spreadsheet" to show where my debts and how many credits ( house/salary/line of credits, etc) I have..? I do learn about the Self Directed IRA to invest RE for 6 hours worth. I learn about using LLC for short-term active income and use S-Corp and the 75 days to convert for tax benefit. But all that you can find on the internet for free or Just go to bigger pocket submit.
I also attended the FB 3 day seminar last week & I have the same exact question you posted 6 years ago... What outcome did you reach? Did you pursue the program?
ask somebody that has gone to the three-day Workshop I can tell you that you are spending 25,000 basically on a system which has everything in order from getting a business license to the cost of products to we have a kitchen or whatever so you are paying for a system that that's all a system that has everything in order and a system that is proven that's it so if you think $25,000 would make you better and business to have a system then go for it I rather figure the system out and take some time and put in the research to put together a system I do not have anything bad to say about fortunebuilders except that are way too costly I could see them charging 5000 for 6 months 10,000 for 12 months and 15,000 for 2 years but I can't see $50,000 for 2 year program and 35,000 for 12 months and $30,000 for 6 months
I am currently on day 3 of the 3 day workshop. Went to the free 2 hr seminar shortly after I got interest in RE and knowing it was a sales pitch, they still lived me into paying 197$ for the 3 day workshop. I looked at it as an opportunity to learn some more concepts and ideas especially in terms of business structure, legacy planning, and taxing.
I knew they would try to sell me on the mastery program and had no way to pay for it so I declined. Can it be usefull? I'm sure. But there's no easy way outs in life and at the end of the day, I'm gonna have to learn by trial and error. So why not put that 50k towards a deal right away?
No knock in the program and the benefits. Just not for me.
My advice: Learn through hard work, dedication, and networking.
Just finished with the FB 3 day course with Lee Escobar as the presenter. I am a self-taught business owner, 10 employees who deals with UHNW people everyday. I am looking toward real estate investing to create a passive revenue stream.
Here are my takeaways from that course.
- Lee was a very passionate presenter - he was tasked with explaining the Entrepreneurial mindset (Using the E-Myth as a template), how money works in its basic form, the economy, legal entities, Financial statements, real estate markets, interviewing tactics......etc.... all in 3 days.
- He succeeded in covering it all - it was well worth the $200 investment. I have read quite a few books, but found the concentrated focus and structure of the class brought it all together. - Go with fore knowledge and you will take a great deal away.
- Lee took the time to stress the moral implications of wealth and wealth building, the joys of giving back to the community and freedoms that it can bring.
- The Program - As a business owner, I know what it takes to get one up and running, the countless days, nights and weekends of setting up the bookkeeping, back office procedures, hiring and employee manuals etc. The turn key aspect of FB is very alluring. The procedures, checklists and forms have a great value and are a great time saver.
- Mastery - It could be argued that in the interest of protecting the FB brand, they need to ensure that their representatives (Masters) are trained in a way that reflects positively on them (just as McDonald's does with their franchisees). This can very much be considered a Franchise based on the structure that it has.
- Cost - Priced from 30k to 50k it is one of the cheapest franchises around. They provide community, mentoring and training of everything from legal entities to marketing. They also provide software tools to get you started on your first set of leads and flips.
- Solid Path - They share the Active -> Passive -> Invest philosophy. Essentially, Flip houses to earn enough to buy rentals, continue to flip to buy more rentals. When you are in a solid position with good passive cash flow, invest as a Hard money or Personal lender.
- It was very fast and I can see where people with out a solid grasp of business would be enamored or overwhelmed by the whole thing.
- The Sales pitch - The program is all designed to sell the Mastery course. Period....End of story
- Hidden fees and details - there is no mention of additional fees or other costs associated with the program - You have to ask very pointed questions. They do not lie, but do not volunteer anything either. Case in point, the realeflow software that does the mailers and provides leads via list generators is $99/mo. This is a reasonable cost of doing business, but is completely glossed over in the drive to sign you up for Mastery.
I believe there is value in the Mastery training for people who need that type of immediacy and guidance. As franchises go, it is the cheapest I have seen and has a much larger potential for ROI than most. You are not tied to them by contracts and retain a fair amount of freedom.
For those of us who have the drive to know and the thirst for knowledge, we will be pouring over books and web pages, we sill be tailoring our business process to our will. We will also be using the great resources here on BP because it is as much about personal growth as it is about the investing.
It is very simple - Know yourself, learn as much as you can ahead of time and then decide if you need this program to help you....Good luck
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