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Bailey Clay
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Open Spaces Capital Cohort (Investment)

Bailey Clay
Pro Member
Posted Feb 9 2021, 06:34

Hello All,

Strongly considering joining Palak Shah (BP Podcast 368) - Open Spaces Capital Cohort. This program goes into systems put in place for the BRRRR strategy to super charge you're real estate business . Reaching out to see if anyone has invested in the program or has any good feedback about it. Thank you!

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Melissa Roybal
  • Realtor
  • Folsom, CA
28
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Melissa Roybal
  • Realtor
  • Folsom, CA
Replied Feb 12 2021, 13:08

@Bailey Clay I came here wondering the same. I’m seriously considering it as well.

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Replied Mar 10 2021, 20:06

@Melissa Roybal

I was hoping to find the same thing. I was going through the "recruitment" process but became increasingly uncomfortable with how much time they wanted me to put in for prep work before they would talk to me about the cost of the program (1 hour 45 minutes worth of calls with their team which includes time to review notes from the phone calland an hour long video). I'd love to know what the bottom line cost is, they refused to tell me and when I said I wasn't comfortable moving forward without knowing (I wanted to save us all the hassle if I couldn't afford it) they said okay we'll cancel your appointment. It felt like a sales pitch, but who knows.. maybe I shot myself in the foot by not listening. Im on the third R in my first BRRRR and am really looking for help with financing more multi units. I'm not averse to hard work, and am willing to pay for education, but it felt weird and I just don't have the time to commit to it without knowing it's a financial possibility for me. I will say everyone I spoke to was very polite and respectful. I would love to know if anyone has been through the course, and how much it costs? I guess I'd still like to do it someday when the time is right. I really like Palek and her story.

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Replied Mar 30 2021, 08:57

Wondering if anyone tried it yet -- I am communicating with someone from Open Spaces now and it would be great to get the feedback. 

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Claudia Ho
  • Investor
  • Brooklyn, NY
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Claudia Ho
  • Investor
  • Brooklyn, NY
Replied Apr 1 2021, 08:49

The cost is $10k in total they just quoted me. Interested to hear other people's thoughts/experiences from the program as the cost is higher than I expected and that the cost couldn't be paid with profits made after 1st deal. 

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Nett Victoria
  • Rental Property Investor
  • Renton, WA
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Nett Victoria
  • Rental Property Investor
  • Renton, WA
Replied May 27 2021, 00:28

Hello All - wondering if anybody eventually took the leap and went for the OpenSpaces Cohort program and can share their experiences/feedback, cost. 

 @Claudia Ho: Would you know how often the group meets and whether the sessions held during weekends? I am also considering joining the program but I only have the weekends to commit. Does the program also provide contacts for your REI team, say you want to do long-distance BRRR and have no contacts at all?

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Replied Jun 22 2021, 09:36

@Nett Victoria Did you join the program? 

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Asif Ahmed
Pro Member
  • Silver Spring, MD
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Asif Ahmed
Pro Member
  • Silver Spring, MD
Replied Sep 15 2021, 16:19

Has anyone on this thread ended up joining the Open Spaces? I'm really curious to hear someone's experience with them - I'm surprised there doesn't seem to be any other threads on BP about this. 

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Diana Devine
  • Rental Property Investor
  • Portland, OR
18
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Diana Devine
  • Rental Property Investor
  • Portland, OR
Replied Oct 12 2021, 13:56

Hey Bigger Pockets family. I looked for this honest feedback of this program before we joined and could not seem to find it anywhere (this may be intentional). My husband and I took the plunge and signed up for the dedicated course in Feb 2021. While we were already investors in our home market, we wanted to hone in on the BRRRR strategy and do it out of state. I will share both the positive and the negatives and you can make an informed decision.

We were drawn to this program because as an engineer with little interest or time to swing a hammer. We were interested in learning how to develop proper systems. We also wanted to fill in any gaps in our understanding of the BRRRR strategy before jumping in head long.

1) Their coaching product was detailed and easy to understand. They shared a lot of their personal and investing journey, lessons learned and successes which made things relatable. They also shared templates that you can use to analyze deals, checklists for closing on a deal, and more practical templates. These were all positives. This is all information you can find in the shared testimonials on YouTube. 

2) They share connections for lenders (HML and long term financing). None of these are necessarily a one size fits all. This will ultimately end up being work you do on your part to find what works for you. They make recommendations but none of these turned out to be ideal for our business or for many in our cohort.

3) At the end of the program my husband and I were under contract on two duplex properties out of state using the BRRRR strategy. We were one of three in class of ~30 individuals (small or large, you judge) by the end of the 12 week program. We had anticipated this number would be in the 80% of the class range under contract.

4) In hindsight, we achieved our goal of getting confidence to take the plunge out of state using the BRRRR strategy that many on BP here explain in detail. Would we pay the same amount for this information, my answer would be NO.

5) My feedback for the program if they see this comment, provide an avenue for students of the program to share their feedback about the service you offer. Many in my cohort would have loved to share their positive and negative feedback with you so you can make it even better. 

Finally, the views shared here are all from my experience. They are not meant to adversely impact any business or individual directly or financially. I cannot share any propriety information or specifics shared during the course. Please do not ask me for it. 

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Replied Nov 21 2021, 21:18

I'll be honest I was dead serious about doing this program. A while back, I was so excited to pivot out of state and do BRRRRs. I loved Palak's episode of her determination and success. But I never got a call back after scheduling an appointment and was practically ignored. I also tried to join the FB group of Open spaces but was not accepted. Perhaps there was something they did not like when I filled out the application? 

But as they say, rejection is God's protection, and as hard as I tried to make it work, especially out of state BRRRRs I kept getting blocked in ways like this. But ... I found something else that worked out way better in the Bay Area. Sometimes life works like that .... 

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Nett Victoria
  • Rental Property Investor
  • Renton, WA
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Nett Victoria
  • Rental Property Investor
  • Renton, WA
Replied Apr 28 2022, 17:00

@Diana Devine thank you for posting your feedback on the program. I also tried joining, but after an interview with their program coordinator/manager who is very condescending, I did not get a call back. Because of that, I did not bother following up my application to the program. 

Still wanting to do BRRR in action, but baby steps - I was able to do a couple of long distance LTR SFH where I was able to build my core 4. What is keeping me from doing it is doing renovations remotely but I came to meet a remote contractor in my last purchase who I can use in the future. :)

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Candace DeSouza
  • New to Real Estate
  • Maryland
6
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Candace DeSouza
  • New to Real Estate
  • Maryland
Replied Aug 26 2022, 07:10
Quote from @Claudia Ho:

The cost is $10k in total they just quoted me. Interested to hear other people's thoughts/experiences from the program as the cost is higher than I expected and that the cost couldn't be paid with profits made after 1st deal. 

Thanks for letting us know. I was really considering it as well. Was in the process of even getting my funds in order, but I think I'll be better off finding someone else. 

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Nancy Maignan
Pro Member
  • Atlanta, GA
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Nancy Maignan
Pro Member
  • Atlanta, GA
Replied Nov 10 2022, 20:00

I joined the program a week ago and just requested a refund which I knew I would not receive however I wanted them to be aware of my dissatisfaction. I have taken 2 courses thus far from other companies. They were not as expensive as Open spaces . I was very hesitant to enroll in the course initially because of that. I should have trusted my instinct. Niti believes she has a special equation to perform BRRR she doesnt. Her system is widely known among seasoned real estate investors. I realized that after attending a recent REIA meeting. The program is organized in the exact same fashion then the previous 2 programs I enrolled in, nothing different. I payed 3k for one and the other donated 500$ I wish I had asked on this platform as you guys have done.

Not worth it, wish I had never listened to that podcast that in turn had me look her up to find out what her secret  but not so secret was. 

I have been listening to rental income podcast and heard her approach on one of the talks. highly recommend the podcast.

Also check this out 

They also have a course that is reasonable

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Diana Devine
  • Rental Property Investor
  • Portland, OR
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Diana Devine
  • Rental Property Investor
  • Portland, OR
Replied Dec 7 2022, 12:31

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Diana Devine
  • Rental Property Investor
  • Portland, OR
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Diana Devine
  • Rental Property Investor
  • Portland, OR
Replied Dec 7 2022, 12:40

 
Ditto ditto @Nancy Maignan. I thought it was so relevant in this day and age to share our honest feedback about the Portfolio Program. If I had found out about this feedback prior to paying $8,000, I would have gladly passed on it. Coach Carson, Paula Pant, Agents Invest by Jennifer Beadles etc all have options that are free or much cheaper than this.
 @Nett Victoria, @Candace DeSouza and @Emma Chen  I am glad you made informed decisions that are best for you.



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Nancy Maignan
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  • Atlanta, GA
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Nancy Maignan
Pro Member
  • Atlanta, GA
Replied Dec 7 2022, 13:31

Agree Coach Carson has a program that is much better priced . Listen to his podcast and will get a ton of information

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Replied Jan 2 2023, 08:01
Quote from @Nancy Maignan:

I joined the program a week ago and just requested a refund which I knew I would not receive however I wanted them to be aware of my dissatisfaction. I have taken 2 courses thus far from other companies. They were not as expensive as Open spaces . I was very hesitant to enroll in the course initially because of that. I should have trusted my instinct. Niti believes she has a special equation to perform BRRR she doesnt. Her system is widely known among seasoned real estate investors. I realized that after attending a recent REIA meeting. The program is organized in the exact same fashion then the previous 2 programs I enrolled in, nothing different. I payed 3k for one and the other donated 500$ I wish I had asked on this platform as you guys have done.

Not worth it, wish I had never listened to that podcast that in turn had me look her up to find out what her secret  but not so secret was. 

I have been listening to rental income podcast and heard her approach on one of the talks. highly recommend the podcast.

Also check this out 

They also have a course that is reasonable


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Replied Jan 2 2023, 08:02

You mentioned other courses in addition to open spaces.  Mind sharing?

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Nancy Maignan
Pro Member
  • Atlanta, GA
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10
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Nancy Maignan
Pro Member
  • Atlanta, GA
Replied Jan 2 2023, 12:44

coach carson has a good program, look him up. you can listen to him on you tube also it will give you an idea. Black swan real estate also has a course above is an example of how they teach. above all join your local REIA (real estate investor association) you will meet many older investors who are willing to talk to you, give you advice all for nothing. go to their meet ups and connect with other investors. bottom line when someone charges 8-10k you should expect 1 on 1 coaching.

hope this helps

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Replied Jan 2 2023, 12:47

Thank you.  I agree.  1-1 coaching in some form should be included

Carson mastermind is closed when I looked

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Nancy Maignan
Pro Member
  • Atlanta, GA
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Nancy Maignan
Pro Member
  • Atlanta, GA
Replied Jan 3 2023, 22:35

His program will reopen, just make sure you sign up to get his emails.I believe he does the course twice a year spring and fall.

Also check out this program

https://www.blackswanteam.com/...

its a good basic way to start, they also promote the BRRR methadology, they just dont charge you 8-10k for this. I want to be clear about the portfolio program. I am not saying that the program is a scam rather how much they are charging is what bothers me . The program is way overpriced in comparison to other courses.

While you are waiting for carson's program just read books. Bigger pockets has many books that are great, they also have their master classes

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Replied Feb 2 2023, 09:59

Agree, very overpriced. The best thing I pulled out of the course, by far, are my accountability partners. I was lucky to get great ones. The course gives good basic information but, it's information you can easily find in David Greene's BRRRR book. I did pick up a property a few months after I ended the cohort but, I honestly think it was more due to the accountability from my partners and a great real estate agent. In short, I don't think it's a bad class but, the price is silly for what it is and you don't really get any one on one time. If I could do it over, I would take the information from David's book (which I had already read before I took the course), found a way to meet some good accountability partners that have the same goals in mind and meet with them regularly, researched a market and a great group of the core four in the market you select. Biggest take away for me and my journey, accountability partners are a must in the beginning.

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Lais Keese
  • Rental Property Investor
  • Salt Lake City, UT
13
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29
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Lais Keese
  • Rental Property Investor
  • Salt Lake City, UT
Replied Feb 14 2023, 21:16

Hey all! Sharing my experience with the program, I joined the second cohort Open Spaces hosted and I can share my honest and very personal opinion about it. My program started in March of 2020 and by June 2020 I was closing on my first BRRRR deal out of state with infinity returns. The program was what took me from analysis paralysis into a deal, their info is very well put together, all based on their trial and errors. You might be able to find a lot of this info online, on YouTube, here, etc and piece it together however as a busy professional, mom of 2 babies, I didn't have the time personally to try and fail - nothing wrong about choosing that path however I knew I didn't have time and I was in peace with hiring a coach to help me through my first deal, 8k is affordable in comparison with the 30,40,50k programs out there. I don't have a partner and the most important thing the program was able to give me was the assurance I had picked a good market, lender, teams and execute my business with an already tested system/processes. Palak and Niti both REALLY held my hand and helped me pick a neighborhood, their support was what gave me confidence and I don't think any resource online could've given me that - again - that was my personal experience and exactly what I needed to start. I have been able to acquire 12 doors out of state in less than a year of the program by my self, and now I have over 300+ units under management with partners, I'm also starting my own fund. I have a lot of gratitude for Palak and Niti to have helped me start my journey. Please understand this is a personal experience and your story/needs might be different than mine, I wish you all lots of luck and success whatever path you choose 🙏🏽😊😘!

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Replied Feb 16 2023, 07:02

Hi Guys, I just wanted to share my experience and perspective, that seems very different than some of the people that have posted on this group.

I was a part of the Open Spaces program in 2021.I had a very positive experience with this program and it propelled my investing journey in a huge way. Prior to starting the program I had considered investing in real estate for a very long time and just was not able to take the plunge.

In just a short time I have a seven figure portfolio that I would not have had without the knowledge and the accountability that this program provided me.
The systems and the process that were shared helped my business tremendously. I do real estate on the side and I don’t think I would have been able to do that without the frame-work and I have in place thanks to Palak and Niti and Open Spaces.

They were so generous with their contacts and resources - I connected with many people from their network and am working with them! I would be spinning wheels trying to figure this all out on my own.

Accountability is a huge part of the program & that benefitted me and my business in a huge way. Palak encouraged the team to have an accountability partner and check in on each other once a week and in addition we would have accountability within the cohort.

I wouldn't have gotten to where I am now without the support of this group.

In addition to all the learnings that helped start and grow a portfolio, I also connected with a lot of motivated individuals across the country who I continue to connect with to discuss opportunities. This program has opened up so many doors for me!

Yes, there are plenty of books and info out there on how to do a BRRR, but what I loved about this program was it goes past theory (shared in books) and gives you resources that you can choose to use to move to the next step of your investing journey.

I understand that some may have had a different experience than me.

If you are considering the program, I would think about what you want - just theory knowledge? (Then go for the books) OR would you like to actually be building a portfolio…(then consider investing in the program).

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Vanessa Perrina
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Vanessa Perrina
Pro Member
Replied Feb 16 2023, 12:31

I'm not one to write reviews but for some it's worth it. Deciding to be a stay home mom from being an independent career women was a big change for me. Both kids were starting school now and it was time for me to build back the old me. I was looking to get a new degree in financing, accounting etc and knew I was going to be paying a tuition someway or another. I also knew I wanted to be in the RE world just didn't know where to start. Listening to BP podcasts was just the beginning. I came across Palak Shah's interview show #368 and was immediately drawn to her story. I reached out to her team on IG @OpenSpacesWomen and 2 days later I was filling out a form and started the process. It was either, 1. Pay a tuition for a degree that would take me 2 yrs and then who knew how long it would take to find a job or 2. Pay to learn about the BRRRR method and connect with like minded people and get it done in 1 year. All tax credited. That was a no brainer! Being in the program, Palak and Niti offer so much information overload. Listening to all the modules at its entirety at your convenience with a notebook and pencil is key to everything you need to get you started. You set a goal, but life gets in the way. You set another goal and you see some progress so you want more. One thing I learned is slow and steady wins the race. If you put in the time, you will succeed, not as fast as you might have thought it would, but baby steps and patience is all you need. This program is life changing if you WANT it to be. They provide all the tools you need, with weekly calls, one on ones, a private FB group with open communication 24/7, team connections, and accountability partners. No dollar amount compares to how this program has changed me. Don't participate in any program and not expect to put in the work. They literally spoon feed you all you need to know and all you have to do is figure out a way how to implement it. There is no smooth road to success. I am so grateful for being apart of the OpenSpacesWomen Portfolio Program. I was able to purchase 3 properties in 2 months not as quick as I would have liked, but there is that thing called LIFE that gets in the way and you just have to keep pushing through. I started the Portfolio Program with an end goal. You need to put your blinders on and ride it out until you see the bigger picture. I 100,000% would recommend this program to anyone who is interested in the BRRRR strategy and wants to make moves in building generational wealth.

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Sophia Francis
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Sophia Francis
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Replied Feb 20 2023, 21:58

I joined the Open Spaces Portfolio Program in February 2022. I was stuck in Paralysis Analysis and this program cured me of the condition. I was able to learn how to analyze deals and how to take action. Similarly, the mentors, fellow classmates obtained in this community allowed me to blossom. I went from NOVICE investor to INTERMEDIATE investor. I learned so much that I never knew before. We learned about construction budgets & draws, hard money loans, and how to choose upcoming neighborhoods. I couldn't have progressed and at this pace without this program. It gave me the confidence, support and knowledge to move forward with the REI career.

Also, one year to the date, I was able to acquire (3) investment properties. I know that this was possible with the guidance and mentorship that I received in the Open Spaces Portfolio Program. I will forever be grateful for the push this program gave me to take ACTION.