What's Bigger Pocket's view on IG Gurus like Thach and Jake....
So I'm sure most of us have an instagram (or FB) account and have come across coaches like Thach Nguyen and Jake Leicht showing how they used real estate methods (flipping, brrrrr, etc) to make loads of money and promising to show you all their tricks if you just pay them $5000+ for their content.
I have listened in on their free consultations just to get an idea of what they offer and what I discovered is that they teach the same things found in books you can find on Amazon written by Brandon Turner or J Scott. Books we can get for under $20 each. HOWEVER, what they do offer that can't be found within the books, is a network of like-minded people all in one place. Although a book can't offer that live-networking aspect, i feel Bigger Pockets offers that.
So my question is, what is the sentiment around here on paying $5K+ to avoid having to search for all your networking needs. Would the $5k+ be considered an investment on yourself? Or is that considered a waste of money when you can have it all for less (or free?) here on Bigger Pockets? Is this a case of "you get what you pay for?" or are those just "get rich quick money scams"?
Thank you,
Mario
Like you I've attended a few free seminars, which are merely thinly disguised sales pitches. Quite often things open up with everyone telling the room about themselves. One of the first things I noticed is that most of the people there have little if any experience or understanding of what real estate investors do. And secondly it seems most of the people would be hard pressed to pay for the lunch if it weren't free. But by the end of the hard sales pitch at least 2/3 of the people stand in line to shell out big bucks for a week end boot camp to hear what the so called gurus have to say. These folks, although well intentioned, do not offer any local networking. And as you pointed out all of the information is readily available for free or nearly free as long as you are willing to put in the effort. Your local REIA association is a much better option for local networking. And forums like this on BP have provided me with all kinds of advice and insights. So my recommendation is to dig in and do your research, attend your local REIA meetings and try to find a mentor, and put that 5k towards your first flip.
Hi Mario, I can not speak for Jake's classes but I can say this as one of Thach current student since April. The purpose of Thact classes is to Burrr, yes you will learn to Wholesale and Flip but then end goal is to own as many Burrr property so you can earn enough passive income to get out of the rat race. lol I sound just like him. You are correct you can learn a lot from books, podcast, shows. All the information is out there, but having Thach and his team and hundreds of other students where you can get any question or situation answered in a few hours is a plus to me. Again I dont know about Jake's program personally for me it was too much money, and I am not trying to promote Thach's program. I did the same research you are doing now back in March before I joined Thach and I did't find any answers. I dont regret joining Thach's classes. And one more thing that is a big deal to me, is that we see Thach 2 to 3 times a week!! for at least 2-3 hours on our coaching calls. I have heard others say they get one hour a week, and pay double or more for coaching. so if you want to burrr and learn wholesale and flip while at it and do it to the standards he follows to try to as much risk as possible, I say join.
Are you talking about springboard to wealth? Do you find the program to be worth your money? Or would you rather get a refund?
For me, I am very happy with the program. Thach and his team are great. I have learned a lot, and I would not ask for my money back.
Have you managed to get any BRRR's going since joining Thach's group?
When I was first on this site I would advised against paid education, I saw it as all grossly overpriced and unecessary. Now I see the issue as a bit more complex.
Real estate is a difficult to implement, but simple to understand business. Education on this topic is free and abundant because it doesn't have that much value. The reason people pay for these courses is to deliberately choose their social circle, and a person's social circle is the most likely factor to dictate their level of success.
You'll get more value from setting $5,000 on fire than you will from paying for real estate investing information.
but depending on the people, paying $5,000 to be around them might be the deal of the century.
@Kenny Rosado Thanks for you posts! Interested to know how the coaching program has gone for you one year later? Cheers, Lawrence
Quote from @Lawrence Hornbake:
@Kenny Rosado Thanks for you posts! Interested to know how the coaching program has gone for you one year later? Cheers, Lawrence
I ended up joining Thach's mentorship program "Springboard to Wealth" after not really finding good support on Bigger Pockets. I have learned things from being in the mentorship program that you simply couldn't find in any of the BRRRR books I mentioned. Having a mentor personally showing you the ropes is much different than reading books. Having Thach as a mentor has been inspiring.
I joined Springboard to Wealth in Aug and went through the 12 modules they have where they teach you how to find properties and how to evaluate them to see if you have a deal or not. There is also a coaching call every tuesday where Thach coaches you and then opens up the zoom call for Q&A, which is a time you can bring your questions on any deals you have or anything in regards to finding deals and he will give you his advice on it. There are 2 other coaches in the program that are on the call too that help with the psychology and mindset questions as well.
They teach students who are starting out to wholesale and honestly, if you don't get your first wholesale deal before your first year in the program, you are not doing what the program teaches you. The minimum wholesale fee is $10,000. Most students report getting $20,000+ assignment fees on their first deal! The $5000 you pay for this mentorship program pays for itself when you get your first wholesale deal! After you see your first check, you are motivated to go find more!
I was so surprised when i received my first interested seller. All I did was do what they teach me in the program and i got a call from an interested seller. The seller ended up deciding not to sell off market and list it on the MLS, but that's okay. They teach us to encourage sellers to list it if they want the most for their property. Some sellers don't care about getting the highest price for their property, they just want to sell right away. I'm keeping going. My first deal is around the corner and Thach and his team are helping me along the way.
How many deals have you completed after signing up?
**light goes off in head** - maybe that's why all these "guru's" are working hard trying to sell training rather than working on deals.
$5,000.00 could help you more building your business. I know people who have paid tens of thousands for education etc only to have nothing for down payments or closing costs. Some people are into the education so not knocking anyone who is but sometimes people max out their finances and are left with nothing in the tank or bank to actually suceed.
Quote from @Greg R.:
Shocked that there's an appetite for this stuff. Maybe BP should validate successful investors and pimp us out to folks willing to pay 5-10k for a lunch and a couple PPT presentations... seems like a much easier way to make money than investing...
**light goes off in head** - maybe that's why all these "guru's" are working hard trying to sell training rather than working on deals.
A lot of truth to what you wrote.
Hi Mario C,
I do agree with you that having a coach/mentor is worth the price of the mentorship to avoid costly mistakes. I made lot of mistakes back in 2003, cost me $200k when I purchased my 3 rental properties and set me back almost 9 years. I joined my local real estate investment club and taught my self, but I wish I had a mentor/coach. Yes, you can buy books and reading on websites such as BiggerPockets and teach yourself how to invest in real estate, but key to SUCCESS is to take ACTIONS and apply what you had learned. Stay away from broke negative people and network with people who are more successful than you and be around those like minded people. I came across Thach Nguyen’s YouTube channel and his course about couple month ago and considering sign up for his coaching course. Best success on your way to be wealthy & financial freedom.
Quote from @Ricky Roxbin:@Ricky Roxbin Did Kenny reply to you? I don't see any reply in this thread as to whether Kenny actually has made money and recovered his initial investment.
Have you managed to get any BRRR's going since joining Thach's group?
Quote from @Blaine Trarop:Negative. It would be good to get an update since some time has past. I’m very curious about this aswell.
Quote from @Ricky Roxbin:@Ricky Roxbin Did Kenny reply to you? I don't see any reply in this thread as to whether Kenny actually has made money and recovered his initial investment.
Have you managed to get any BRRR's going since joining Thach's group?
Thach’s program is worth it! I didn’t want to spend the money to invest in his program but I admit it was a great investment. The training/mentorship is very important. Yes, you can do it on your own but it helps to be connected to a network of other investors. I am also a BP member and they are great and have a wonderful podcast and provide helpful information. However, Thach’s program is very interactive and we are on his live zooms more than twice a week. You can ask him a lot of questions and his willingness to help is great! I think everyone can benefit from both BP and Thach.
Quote from @Roxanne Bellille:
Thach’s program is worth it! I didn’t want to spend the money to invest in his program but I admit it was a great investment. The training/mentorship is very important. Yes, you can do it on your own but it helps to be connected to a network of other investors. I am also a BP member and they are great and have a wonderful podcast and provide helpful information. However, Thach’s program is very interactive and we are on his live zooms more than twice a week. You can ask him a lot of questions and his willingness to help is great! I think everyone can benefit from both BP and Thach.
I think this particular post is a bot for marketing purposes.
This is not a bot message.
Quote from @Joe S.:
Quote from @Roxanne Bellille:
Thach’s program is worth it! I didn’t want to spend the money to invest in his program but I admit it was a great investment. The training/mentorship is very important. Yes, you can do it on your own but it helps to be connected to a network of other investors. I am also a BP member and they are great and have a wonderful podcast and provide helpful information. However, Thach’s program is very interactive and we are on his live zooms more than twice a week. You can ask him a lot of questions and his willingness to help is great! I think everyone can benefit from both BP and Thach.
I think this particular post is a bot for marketing purposes.
No bot here. I am enrolled in Thach’s program and I am also a BP member.
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@Roxanne Bellille
How many deals have you done?
If you teach BRRR I would love to see how someone can teach construction management outside of the field and understand scopes of work, contract negotiations, permitting and dealing with contractors
What does the proforma look like and schedule of values?
Hi Chris,
I am a new investor and recently joined Thach’s program less than one week ago. I am not endorsing gurus to anyone, but I like his program and think it will benefit investors who are new and need guidance in real estate investing. He teaches the Brrrr method and many other types of strategies. No deals yet because I just started.
Hello Roxanne,
I saw your comment that you posted about 2 months ago saying that you recently had joined Thach's mentoring program. I have also been thinking about joining his team and wanted to get some insight from you since you've had quite a bit of time now in his program. I would really appreciate your feedback. Thank you.
@Mario Casarez: hi! I wanted to know since you posted this comment a year ago, have you done any deals through this Nguyen program? Do you think it’s worth the money? Thank you!! EI ended up joining Thach's mentorship program "Springboard to Wealth" after not really finding good support on Bigger Pockets. I have learned things from being in the mentorship program that you simply couldn't find in any of the BRRRR books I mentioned. Having a mentor personally showing you the ropes is much different than reading books. Having Thach as a mentor has been inspiring.
I joined Springboard to Wealth in Aug and went through the 12 modules they have where they teach you how to find properties and how to evaluate them to see if you have a deal or not. There is also a coaching call every tuesday where Thach coaches you and then opens up the zoom call for Q&A, which is a time you can bring your questions on any deals you have or anything in regards to finding deals and he will give you his advice on it. There are 2 other coaches in the program that are on the call too that help with the psychology and mindset questions as well.
They teach students who are starting out to wholesale and honestly, if you don't get your first wholesale deal before your first year in the program, you are not doing what the program teaches you. The minimum wholesale fee is $10,000. Most students report getting $20,000+ assignment fees on their first deal! The $5000 you pay for this mentorship program pays for itself when you get your first wholesale deal! After you see your first check, you are motivated to go find more!
I was so surprised when i received my first interested seller. All I did was do what they teach me in the program and i got a call from an interested seller. The seller ended up deciding not to sell off market and list it on the MLS, but that's okay. They teach us to encourage sellers to list it if they want the most for their property. Some sellers don't care about getting the highest price for their property, they just want to sell right away. I'm keeping going. My first deal is around the corner and Thach and his team are helping me along the way.
I was also looking at Thach's program. I was hoping to get some feedback
I would love to connect with anyone that has signed up for Thach's program. It looks intriguing and if just buying into the group for $8000 is worth it, the training is a bonus.
It seems that BP is majorly split between those who have never done a deal (probably 80%) and those that have 2+ deals under their belt (20%). That barrier to entry is very challenging and if $8000 is enough incentive to get ones butt going, it is worth it.
I had a call with the sales rep from the Springboard company yesterday (Jan 2024). They are offering
1. Training
2. Deal Review
3. A unique funding source
4. Access to investors
5. Community
My sales guy, Ben, mentioned that he did 20+ deals since joining the program and 8 of his deals were funded though the Springboard Funding program.
Last week, I had a call with Kingdom320 (Jeff Rutkowski) and they did not offer access to investors or funding. I felt like I was "bait-and-switched" when I got off that call. The top program was $30,000 for two years.
I did not feel that way when I got off the Springboard intro call and I am actually considering. Having a coach/mentor is worth it.
If anyone in Thach's programs, see this please send me a DM.