Is fortune builders mastery program legit?

316 Replies

You can review all the podcasts on this forumn several times and be ahead of the game. You can also go on YouTube and select some free videos and watch them and buy youself a case of wine and you will be well ahead of the game. The $25,000. would be better off spent on a vacation or as an investment in local real estate or a crowd funding investment. Not a legal opinion, just food for thought. The forum is not anti coaching just anti costly expenditures.

The concepts of flipping and wholesaling are trivial. Most of the information is online for free or in $19 books. The rest of what you need is EXPERIENCE. You will NEVER gain experience through courses .. you need real deal experiences.

- Help out with demo work. You will learn a lot about how a house is built.

- Watch contractors work. You will learn a lot about how repairs are made.

If you ever found out how many students actually end up buying even 1 property.. you'll soon find out why no one will ever know if the guru systems even work and how they last so long.

$25k is a ridicules price. Keep in mind that they flipped most of their houses in the ghetto in the BOOM years when every-other-house on the block needed major repairs and could be resold for a $50-100k profit to anyone with pulse and a NINJA broker.

With that being said .. I did pick up many golden nuggets from the FBs FREE speaches when they were starting out 'teaching' .. mainly the simply concept of BUSINESS SYSTEMS but for Real Estate.

Originally posted by @Phil Z. :
The concepts of flipping and wholesaling are trivial. Most of the information is online for free or in $19 books. The rest of what you need is EXPERIENCE. You will NEVER gain experience through courses .. you need real deal experiences.

- Help out with demo work. You will learn a lot about how a house is built.

- Watch contractors work. You will learn a lot about how repairs are made.

If you ever found out how many students actually end up buying even 1 property.. you'll soon find out why no one will ever know if the guru systems even work and how they last so long.

$25k is a ridicules price. Keep in mind that they flipped most of their houses in the ghetto in the BOOM years when every-other-house on the block needed major repairs and could be resold for a $50-100k profit to anyIone with pulse and a NINJA broker.

With that being said .. I did pick up many golden nuggets from the FBs FREE speaches when they were starting out 'teaching' .. mainly the simply concept of BUSINESS SYSTEMS but for Real Estate.

I have to agree. Everything I learned has been from this site and going to YouTube. My partner has invested more than 25K+ on education. She's shared her materials and all the same information is on BP for FREE. Her husband has laughed and said, I've read a few blogs, watched a few podcasts and got going. There's something to be said for doing your own independent research. I think having a background in business (20 years as a corporate marketer) helps.

Net/net: Do what you think is best to get started. At the end of the day, you need to take action and close a deal.

Best.

I am curious if the $25K Mentoring program is their first up sell or if their is a $5k program that they get you to buy and then tell  you that to really succeed you need to participate in their $25K program.

Over the years I have went to a some of those "free"  weekend seminars to learn a bit more about RE investing.  I refuse to put the costs of the courses onto a credit card so they leave me alone after I disclose that fact. 

I agree with other posters  that if you spend time on BP and do some key word searches on Google you can get a lot of information and training for free or very little costs.  There are several Youtube channels that have some great podcasts along with the ones on this stie. 

Off to go check out more of them on BP.

Have a great day, and please come back to tell us if you did the program or chose another one to do. 

Is the Fortune Builders Mastery program really Legit?

YES Absolutely - i work with a lot of new first time investors that i meet at my local meet up groups and they are vary knowledgeable. From what i've experienced with my work with investors from the program they seem to defiantly know their stuff. If you have the money id say go for it. 

Like Michael said, noting wrong with spending money on educating yourself. 

Originally posted by @Espe Martinez:

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!

 Could someone please add their input on what Espe said? I too have been offered entry into their jump start program and have a lot of considering to do. Mentoring about my market (Montreal, Quebec) could be very beneficial to me. Should I do it? Why? Why not?

Disclosure: Mail

one of the tests for any organization is this question.  

Are you investing for profit utilizing what you teach? 

I know first hand that they are sending mail since we do their mail.  I only assume that they are profitable due to their send amounts.  

That said are they fix all know all.  No one is.  The error, if it is, is that they use active successful students to train.  

Maybe find that person directly.  That said following an established system is very cool 

Then you do have BIGGERPOCKETS the best mentor in the world.  

No direct experience with the program, but 25k sounds massive. 

Sometimes it's easy to forget the big picture when you only have a few similarly expensive options to choose from (mentor courses, in this case). 

For reference, some other potential uses for 25k:

- down payment on an actual house; in many areas this will get you a property in a good neighborhood; the hands on learning will be invaluable. Remember this is money that you will get to keep in the form of equity in the property - if you spend it on training it's just gone.

- cash purchase of a really cheap house in some markets

- epic once in a lifetime vacation to the Maldives

- epic 4+ weeks of heli skiing in Alaska

- epic 1+ week of heli-skiing in Alaska with a private helicopter and private boat with heli pad - for you and 7 mates

- 1/4 to half a college education at a good private school if you get decent financial aid

- a full college education at a state school (4years!)

I'm all for learning, and it does come with a cost. But lets keep things proportional and in perspective

Personally I took a great continuing education class on REI at a local college. The 10-week 2.5 hrs/wk course cost a whooping 700 bucks and was totally worth the money

My 2c

D

Most rookie investors have a number of obstacles to overcome. They need the following:

  • Learn the transactional part of the many different real estate strategies and deals
  • Implement the business systems to scale the business
  • Learn how to raise capital, and become an expert at this.
  • Do an effective job of marketing
  • Overcome their own limiting beliefs 
  • Learn and practice advanced negotiation skills.

It's rare that a single company can provide you with all of the above. If you're playing the game with 1/2 the skills, you won't win.

I agree with the previous comments. Learn from others who are actually doing the work.

I have seen too many people try to go it alone. Take it from someone who is actively developing projects in 6 different cities across the country. Business is a team sport. If you're missing some skills, track record, capital, leads, systems - Find the right people to partner with. Investors invest in businesses. They don't invest in the self employed. So joining a team that has a track record of success is the best way for a rookie to get started. 

Don't go spend $25,000 cash. There's a better way.

Originally posted by @David Beard:

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!

Good advise. One might also use the following alternative to utilize a more specific keyword phrase:

site:www.biggerpockets.com "fortune builders"

These programs never go away, I find it interesting skimming the pages of the cognitive bias, look to the interests of those posting in favor of such "education" as opposed to those who have no interests. The school of hard knocks applies but it seems to be grossly overvalued. Seems the value is established on the perception of your success.

I'm a big fan of psychology and the analysis of cognitive basis, goggle it, study it, learn to identify it and apply it in sales, whether it's the sale of any idea or any product.

You folks are being suckered! Kay Marie hit the nail on the head, your perception of value is skewed due to the lack of knowledge. Not understanding real estate means you have no basis to judge the value of educational materials.  

First you need to find a teacher, mentor or coach that you can trust, if they are primarily in the business of education, I suggest you stay away from them unless they are teaching the basics in a formal setting, like a real estate school.

I've had three local business colleges provide me with an opportunity to establish a real estate school, 2 were found through my due diligence as being for profit, scammy type business schools, One is a possibility but I doubt it. One private college, very well respected is another possibility, the State University is also open to a class outline.

Yes, I'm bias as well, get with a college or university and learn the industry not systems, strategies or do what many do, spend 15 years in RE and get a half a clue. :)   

Originally posted by @Bill Gulley:

... Kay Marie hit the nail on the head, your perception of value is skewed due to the lack of knowledge. Not understanding real estate means you have no basis to judge the value of educational materials.  

...   

In a PM to somebody I stated something similar to the following to illustrate this point.  Give a first grader a fourth grade math problem, and the first grader is overwhelmed; give the same fourth grade math problem to an eighth grader, and the eighth grader thinks "no big deal" ...

Originally posted by @Bill Gulley:
Kay Marie hit the nail on the head, your perception of value is skewed due to the lack of knowledge. Not understanding real estate means you have no basis to judge the value of educational materials.

I love that line.


Yep got scammed as well

I'm from Vancouver, BC Canada. When these guys came up here they were really convincing. This was back on July 2012 when there was not as much info about FB and their scams were not as publicized. I Attended their seminar for $197. Their seminars were very convincing and had a really good speaker Jonathan Steingraber. He did the whole I was poor and family hard times bit and now I am rich because of FB routine. Anyways I got suckered into paying the 25k along with 27 other students. Wow FB made a killing that week. Anyways I tried learning their mastery courses online and found most of the material does not apply to the Canadian market. Tried implementing their strategies with no luck. Contacted most of my fellow Canadian mastery students and they had no luck as well. With their promises of recovering the 25k with implementing what they teach. I will never recover this money. Has anyone tried to get a refund through some kind of class action law suit from such a fraudulent company such as Fortunebuilders Inc. ? I'm thinking Canadians have a legitimate claim against this company?

Disclosure: Mastery Program Member

This is probably a somewhat dead topic but if not I will throw in. First off I did pay the 25k and could not be happier with what I received. However that is ME not others. The "Real Estate Education Through Osmosis" mentality, where by you attend local REIA's and find a mentor etc is about the same as the "Wholesale,FLIP Etc with NO MONEY" idea in that it is definietely possible and there are probably several people that have done it but the reality for the rest of us is it ain't gonna happen.

I signed up and gladly paid because like a few of you said it is a legit program, very legit infact. But I would be lying if I told you it was cost affordable because for most people it isnt. It also isnt a get rich scheme which I am sure that you got from the 3 day Keri. I did it because I, A: had the money to spend on the program and money to start an effective business without leveraging credit etc. That part is what it is. Everyone does it and well can you all say that there hasnt been a time in the past you have tried to get creative to make a deal go down? But the main reason I did it was, I spent my entire life in athletics through the minors and then as a Chef but the whole time I was in and around Real Estate. My whole Family was involved from Agency Owners, Agents, Brokers and the like and well through all that I gained just enough experience to be an idiotic owner and a worse landlord. The program gave me a channel to all the possible information I could ever want and the connections to do something with it.

Would I do it again.  Damn right.  I try and dedicate about 20k a year in education because you can never stop learning.  But again That is ME.  You have to answer that for yourself but I will say the best advice I saw on this thread was J.Scott's.  If you can take the money that you would spend and find a deal to work, then use a qualified person to assist ( I think J offered) that is the best way to learn.  Good luck to anyone that decides to further their knowledge on Real Estate in whatever way suits them best and if anyone reading this would like to have a real discussion about what Mastery is and whether its worth it send me a message I would be happy to help in any way that I can.

Originally posted by @Keri A. :

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 A;

There will not be to many people that will choose to trash others within of field in fear of repercussions, and the same will go for me however I feel, as others do to provide you with the best information that we possess. regarding the 3 day seminar and the mastery program, I also attended the 3 day seminar and was also very interested in the what was being offered. The diamond package that was offered to me was for 35,000.00. Unfortunately, I made the choice to not invest in the fortune builders mastery program because of numerous unknowns. in other words, the more research that i had done, the more confused that I became. It is in my opinion that when organization advertise the same product to different people for different prices, red flags should be raised. Also I had called several people from Fortune Builders requesting to visually see the systems, put in place, for generating leads, rehabbing app's and using 40 different multi-media outlets to advertise acquired properties for sale. It appeared to through everyone in to automated response stating that they would love to and will help me to have all my questions answered but they would need more information about me which to a full 30 minutes of my time. During this 30 minute period, I had requested the same information of visually seeing the automated systems and how they work. I eventually was told that a 90 minute meeting would be needed with a director before my questions would be answered. When i asked why this was necessary, I was told that they wanted to make sure that I was able to take direction and be coachable and only if i was that I would have to be chosen to be part of the family. The longer I stayed on the phone with these people, the more uncomfortable I felt. The Fortune Builders organization claims to need to choose individuals for the program however appears to only want people that would provide the least resistance. The bottom line is that, as deflated as I felt, I made the choice to follow my dreams in other real estate avenues.  It is my opinion that being part of the Bigger pocket family that you are in good hands to achieve you real estate needs.

Paul and other Bigger pocket investors here have provide great information as to reach these goals. I agree that you should start by joining your local REIA and obtain some books offered here on Bigger Pockets that share the direction that you choose to take.

Good luck !

Russ

Originally posted by @Keri A. :

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 A;

I found someone that has actually purchased the program in CA. Below is a copy of his ordeal.------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

I attended their free 2 hour session and then the $197 3-day program and I bought the full $25,000 program around November 2012 (about a year as of this writing)

My logic at the time was, "Hey if these guys have a TV show and have been doing it for 10 years, they might know a thing or two"

I live in San Jose, CA. If you aren't aware, it's probably one of the hardest markets to get into from a "flip" standpoint. Why? Starter homes cost 500,000, not 50,000 like it does in the East Coast and Midwest.

The real problem I have with Fortune Builders is that they advertise coaching, team, and "help" when they offer very little of that when it comes to the Silicon Valley. There are hardly any FB students that are consistently flipping in the area. Get ready to be scoffed at if you want to buy homes at 65 cents on the dollar. Get ready to be disappointed if you think deals are "easy" to find.

I am purely speaking on the efficacy of the material when it comes to the particular market I do business in, the model probably works 10x better where houses costs less than 100,000 a pop.

Since I started, I have joined a local group in the flipping business, I no longer rely on Fortune Builder's material to find us deals, we have to innovate for our own market and seek out the best practices because the program is NOT 'one size fits all'.

In the same way that I would not recommend anyone to "just start a business," I would also not recommend just anyone to "join fortune builders." It is not for everyone, but for the people it is a fit for, there is definitely an opportunity.

Call me at [PHONE # REMOVED BY MOD] if you want to talk about the program. PLEASE call if you are in the San Jose, CA area and are thinking about it, I can save you a BIG headache and lots of frustration. 

I went to Fortune Builders in San Jose about a month ago.  The first seminar was short and free and promised to deliver during a 3 day for about $200 so I signed up.  Went to the 3 day and was sorely disappointed.

As an investor with some experience, the show quickly became transparent.  The 3 day is essentially a long marketing pitch for the big catch of 35k.  The information was shallow.  A lot of motivational speaking with repeat after me and raise your hand for this and clap for that.  When asking the reps for an agenda or other questions they all stuck to the talking points.  

In summary, and in my opinion, there may be some good to Fortune Builders, however I saw it as more of a business opportunity for them than for us.  The opportunity to prey on scared first time investors with too much theory and not enough action.

BIGGER POCKETS forum and podcast are by far much better resources.

I am taking the 3 day class next weekend . I will not be spending that much money for the next step. I need a mentor to guide and show me the ropes not someone I am gonna fund there next flip. 

@Dooreuhn Cee  & @Samantha Bradshaw  

Both of you are definitely on the right track.  I am friends with an investor in the area who signed up for the 35k program and has been really disappointed.

BP Podcasts, Guides, Forums and connecting with as many local investors as possible is the way to go!

I can't see how they can charge that much. If I had that kinda money to spend on a program there houses in my area that can be purchased for that amount. I have learned a lot from this site already and study it daily an take as many notes as I can. I will succeed or die trying ! 

I am totally convinced now that FB is overpriced and not necessary to be successful. I am proponent of mentoring, especially when you get into a new business. The best mentor I can think of is another investor who is willing to work with you on a deal or two.

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