Flipper/Rehabber · Member since 2019 · 8 posts · 2 votes
So I’ve read Stefans books in the past and paid a premium price for them, then they put you into a funnel and do continuous sales calls. After being transferred to the “next tier” sales guy I almost bought into a $37,000 coaching program (with promo pricing of 31g if I put a deposit down.)
Before I give away hard earned money with partial debt, does anyone have reviews, advice or guidance on such education?
I am in the northern Alberta Canada market, Stefan is based out of Winnipeg, Manitoba, Canada which is relatable in structure and governing laws in Alberta.
Straight from the richdad operational playbook. You can do much better for much less. You’re in the best province overall to be investing in long term currently. At minimum, before you pop for something like this, join myreinspace and read through every single catalogued thread that is of interest to you in the public forum (public side is free). I was a member there for 12+ years and can tell you that only recently did they start sliding down the continuum into “guru” type programs (why I left). While you’re at it, go ahead and stop researching fortune builders and keyspire too. They’re all the same (although keyspire does give you the option to loan money to scott, whoopie!).
Fire me a dm if you need more info on any of the above
Investor · calgary, alberta · Member since 2015 · 129 posts · 51 votes
6y
@Kelley Prymych. Find a way to find a deal that is the essence of investing. The tuition is your possible down payment on your next deal. If you encounter something you can’t overcome find a local expert and get them to help you or hire the right person, lawyer, realtor, contractor etc. The danger of these programs is they don’t know your market and can’t help you determine what a deal is. Any podcast or book can offer the same or better advice.
Flipper/Rehabber · Member since 2019 · 8 posts · 2 votes
6y
@Kris H.
Thank you for the advice! I appreciate and will dove into REIN’s material. I have bounced in and out of it for the past half year or so. A personal limitation I’ve been placing on myself is more so information overload. -like Grant Cardone said, get yourself one guru, listen to only one person and forget the rest because they’ll start contradicting each other and you’ll be so confused that you won’t know where to start
Flipper/Rehabber · Member since 2019 · 14 posts · 5 votes
6y
@Kelley Prymych
Yea I have, would definelty recommend them, every coach does what they teach, no gurus by any means and they also warranty their program, still to their commitment and follow through until you get the amount of deals that each level estimates to help you with.
Sometimes you have to pay for education to learn faster and skip steps and avoid mistakes that can set you back years.
In life the only valuable currency is time, and if your worried about sacrificing a down payment that’s small thinking because youll build a portfolio slower using your own money when there’s billions out there around all of us.
If you don't mind me asking, what is their coaching program like? What do they teach you? How many deals have you done under their guidance? Were they flips, buy and hold, or something else?
I'm currently considering Stefan's coaching program, but not certain whether the timing is right for me, or whether their strategy aligns with mine.
My husband and I did the Platinum Program at Black Card U. We had tremendous success but it is no joke... a LOT of work. We had flipped 3 houses on our own and wanted to scale. We did the Platinum program and flipped the following houses since (below). We also learned to JV for buy and sell (fix and flip) and buy and hold. We now have 6 units B&H, as well. BCU is based out of Canada but we are in the USA (Maryland). Good luck with whatever you decide.
So I’ve read Stefans books in the past and paid a premium price for them, then they put you into a funnel and do continuous sales calls. After being transferred to the “next tier” sales guy I almost bought into a $37,000 coaching program (with promo pricing of 31g if I put a deposit down.)
Before I give away hard earned money with partial debt, does anyone have reviews, advice or guidance on such education?
I am in the northern Alberta Canada market, Stefan is based out of Winnipeg, Manitoba, Canada which is relatable in structure and governing laws in Alberta.
looks like it wouldn't let me upload the links to the houses we flipped per my earlier post.
Anyway, like I said, the programs at Black Card take a lot of commitment. You learn ways to acquire properties, raise private capital, hire contractors, scale the business, etc. We did the most advanced program because we had already flipped a few houses and had three rental units. That program is called "platinum" and the goal is 12 deals in a year. It was of course the most expensive program, as well. However, if you are making an average of $30k per flip it should pay for itself and then some. Not everyone can achieve in the program - you have to be a no excuses person and do the work. It is a lot of work and commitment, which I can personally attest to. My husband and I split up the work, which I think is a reason we had so much success. Good luck.
My husband does a little coaching with BCU for USA students. If you are in Canada, they have more coaches there and they all (we all) had to go through the same program - up through Platinum. Hope that helps. I know it is a hard choice. If you are looking to grow an empire, then a mentor/coach or system is a good idea. If you just want to flip a house at a time, maybe find a local investor to work for, volunteer your time and learn that way.
Colorado Springs, CO · Member since 2014 · 57 posts · 48 votes
4y
RUN. You're much better off teaming up with some successful investors in your area that are doing what you want to do. You'll learn so much more and gain a network of people in your area. Look for real estate investment groups in your area via FB or Meetup. Guarantee that that program isn't going anywhere. If anything they will only lower the price if you walk away and come back.
@Joey Wharton I'm not so quick to pass judgment. It's definitely not for everyone. The thing about these sorts of programs is that high reward comes with high risk. If you take on the program and succeed, it transforms your life. If you fail, you could end up bankrupt or in debt.
Fundamentally, Blackcard U tries to solve a problem that is difficult to solve: how do you *effectively* commoditize flipping & rehabbing education? There are lots, and I mean lots, of places that BADLY commoditize it. We're talking places that charge you $20,000 for a 3 or 5 day retreat and when you leave you have no hands on experience. Places that produce students who don't know what they're doing and end up in upside down flips with no way out. Blackcard charges a similar rate but gives you a one-on-one mentor with real life experience. They can't guarantee your success in a program that depends so heavily on your action to succeed, but their percentage success rates beat the living hell out of the competition. Compared to the scams that are out there, they offer a high quality, serious program.
What you're recommending, Joey, is the (relatively) slow but sure path to success. For many, that's the correct path. For a few, they're willing to pay the price to speed things up.
I nearly took their program. I ultimately decided it wasn't the right time in life for it. They didn't lower the price for me when I walked away.
Colorado Springs, CO · Member since 2014 · 57 posts · 48 votes
4y
@Will Andersen no doubt there are plenty of scammers out there trying to sell RE programs. You know why? Because it's easier to sucker someone into spending $40k on a "course" than to flip properties. A friend of mine tapped me for one of these courses. He said he'd pay for it. He just wanted someone to go with him. I told him if you've got 40k to spend on a course you've got enough to get a property. So I found a multi family property for 160k we bought from an estate. It took 18 months to rehab it and get solid tenants in place. Sold it for close to 900k. It was a TON of work. And that's what these courses don't want to tell you when they're selling flipping to you. If you really want to secure your investment and make sure you meet the timeline and budget you need to be hands on or partnered with someone who is. Someone considering a course is just afraid to jump in, that's why I recommend partnering with someone successful vs throwing your money away on a course.