Flipping Boston "The Flipping Formula".....is it worth it?

Tampa, FL · Member since 2013 · 2 posts · 0 votes

I bought the $2,000 2 day seminar and I just found out they try to sell you more product after this seminar.....is this worth it or should I walk away?

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Tony Reale

Franklin, TN · Member since 2013 · 39 posts · 15 votes

13y

I am 36 years old. I wanted to be a real estate investor when I was 16. My lacrosse coach was an ivy league graduate with a law degree and never practiced law. He was a real estate investor. He coached us for free cause he loved the game and took time out of his day to do that for free. He is why I am here and he gave me the best advice I have ever received. I asked him about buying a 600 dollar real estate coarse and he plainly explained to me this......That guy makes millions of dollars selling you this coarse, not investing in real estate. No hate for the guru's but he happily gave me everything I needed to know for free, although that son of a B did make me do a lot of grunt work for the knowledge! I would happily do it again!

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Logan Boyter
Wholesaler · Keithville, LA · Member since 2013 · 10 posts · 9 votes
13y
I read their book since it was free, aside from S&H. It was the first REI book I read and it gave lots of good info. That being said, they were always trying to get me to pay them to be my mentor and they constantly send me emails with the same goal. It has never seemed worth it to me, but I'm not sure about their seminar
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Aaron Montague
Rental Property Investor · Brookline, MA · Member since 2013 · 1k+ posts · 777 votes
13y
The "flipping formula" and all real estate knowledge is worth something to just about everyone. You have to look at $4 books or $2000 seminars the same way: Is this a good investment of my time and money?

If you are confident that further products, mentoring and connections from the Flipping Formula guys is going to make you more money than they are asking for the products, then they are a good buy. If you don't think so, stick with the $4 book.

From a numbers perspective. If you made 50k gross from your RE investments last year, and 10k was profit, you had a good year. If attending that seminar is going to jump your gross to 53k with the extra 3k as profit, then the seminar has paid for itself.

If you could have got the same 3k from the book, the book is a better investment of time and money.
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Rob Powell
Real Estate Investor · Oklahoma City, OK · Member since 2012 · 81 posts · 20 votes
13y
Most seminars are an ongoing investment in which they tend to make the majority of "your money".

I feel that you get a lot more valuable information from great inter-active sites like BP.

Here you find hundreds of investors who are ready and willing to answer all your questions and help guide you to success.

And they will not keep digging deeper and deeper into your pockets.

Don't just take my word for it ,test it for your self.

Ask any real estate question you can think of on a BP forum and see how many helpful responses you receive.
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Mike HurneyPro Member
Real Estate Investor · Boston, MA · Member since 2009 · 2k+ posts · 542 votes
13y
@James Finch

1. I hear folks talk about $99.00 like it's all the money in the world but gladly:-))) saddle themselves in student loans (which are up there with IRS lien priority and will not go away) for up to $40,000.00/year! Then they're working for minimum wage???

Why not get a college education from free ebooks, library books and Kahn's courses?

At our REIA (contact below) we had someone speak to us in Boston, who'd done a paper, on the amount of student debt out there. She also claimed illegal aliens were being granted free in-state college tuition. I didn't pay much attention to it then but now I see it in the Mortgage Applications I take. That huge debt disqualifys most young applicants but illegals are qualifying.

2. Sidetracked... Back to Gurus/Courses. There's a phenomenon on Value Perceived. I see a lot of folks with free books and ebooks. I'll ask "I like that author, what'd you get out of it?" I didn't read it yet.

However the Book they spent $599.00 is worn out, "It's gotta be good It's $599.!"

3. Then there's the airfare boast (old commercial when agglomerators (expedia) were just getting started): Whatever you paid for the trip someone will always boast they paid half that;-)

4. My advice: If you like someone (you'll probably do it) and their course, purchase the base course. Your return on one deal is usually many times that initial investment. When they try to upsell you, let them know your Partner/Spouse will kill you if you buy anymore, until you recoup that initial "investment".

Then call them, once a week with your progress and questions. Do EXACTLY what they suggest and report back with more progress and questions until you've recouped, then consider another Course Purchase.
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Robert AdamsBusiness Member
Real Estate Broker · Henderson, NV · Member since 2009 · 1k+ posts · 373 votes
13y
$2,000 for a 2 day seminar??

Save the money and do more online research it is FREE and you'll get more out of it.

There are so many great people on BP that will help you for FREE. Use the $2,000 for you next RE investment! Boom just save you $2,000! You are making money already! Seriously though that's absurd.
[email protected]702-349-9175
The Adams Team at Rothwell Gornt Companies4.970 Reviews
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James Finch
OP
Tampa, FL · Member since 2013 · 2 posts · 0 votes
13y
LOL....Yes thank you .....I did use the 3 day period to back out thanks to the great feedback I got from BP......I really appreciate all the help!
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Tony Reale
Franklin, TN · Member since 2013 · 39 posts · 15 votes
13y
I am 36 years old. I wanted to be a real estate investor when I was 16. My lacrosse coach was an ivy league graduate with a law degree and never practiced law. He was a real estate investor. He coached us for free cause he loved the game and took time out of his day to do that for free. He is why I am here and he gave me the best advice I have ever received. I asked him about buying a 600 dollar real estate coarse and he plainly explained to me this......That guy makes millions of dollars selling you this coarse, not investing in real estate. No hate for the guru's but he happily gave me everything I needed to know for free, although that son of a B did make me do a lot of grunt work for the knowledge! I would happily do it again!
3 Reply
Bob T.
Investor · Chicagoland, IL · Member since 2013 · 44 posts · 9 votes
13y

Originally posted by Tony Reale:
I am 36 years old. I wanted to be a real estate investor when I was 16. My lacrosse coach was an ivy league graduate with a law degree and never practiced law. He was a real estate investor. He coached us for free cause he loved the game and took time out of his day to do that for free. He is why I am here and he gave me the best advice I have ever received. I asked him about buying a 600 dollar real estate coarse and he plainly explained to me this......That guy makes millions of dollars selling you this coarse, not investing in real estate. No hate for the guru's but he happily gave me everything I needed to know for free, although that son of a B did make me do a lot of grunt work for the knowledge! I would happily do it again!

awesome advice. There is no "free" lunch. but what you learn is "priceless".

Some people do better with books (or audio), seminar... etc. but execute what you learn, or else you'll just be buying books, seminar.
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Mindy Chaffin
Involved In Real Estate · Thompsons Station, TN · Member since 2013 · 3 posts · 2 votes
13y
I have to say that my husband and I have been through the entire Flipping Formula and are members of the Inner Circle. Yes it was a LOT of investment but I liked being able to learn from other peoples mistakes and not pay more than my investment in mistakes on deals. Also, the mentors, teachers, business associates and new friends we have made along the way has been priceless! I would never have been able to meet people like Dave and Peter (that do like to check up on us) or Robert Shemin (read every book he has written) or Jon Eborn (what a great person!!). These people are the real deal, well a little more drama on TV than in person:-) My only complaint right now is the fact that we have learned EVERY aspect of investing and then having to narrow it down on what we want to do. But by knowing every way to invest we feel we are going to be able to change with the market no matter what it is doing. And as far as "saving your money to buy a house" we have learned how and where to find the money and not have to use our own. But the one thing about Dave and Peter's course The Flipping Formula is that they genuinely WANT you do succeed!
1 Reply
Becky Nichols
Real Estate Agent · Denver, CO · Member since 2014 · 22 posts · 1 vote
12y
Mindy, what kind of "trouble" are you having with the company? My husband and I signed up for the 3 day bootcamp this weekend! Any advise is greatly appreciated :)
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Rashad Dove
Alexandria, VA · Member since 2014 · 29 posts · 5 votes
12y
My mom & I went thru the Flipping Formula seminar. We didn't do the Inner Circle, but the 3 day workshop with Marc Hrisko was great, the investor summit in Vegas was great & the 3 day mentor class with Jimmy Huffman was great. It costs a pretty penny, but as the saying goes, you have to spend money to make money. Great memories from all of the events. Now the only thing stopping us is US, I feel more knowledgeable & comfortable now as does my mom.
Good luck!
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Account Closed
Buffalo Grove, IL · Member since 2014 · 3 posts · 0 votes
12y
At the 3-day training, will they only offer to fund your first flip IF you purchase more from them?
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Luana C.
Investor · Murrieta, CA · Member since 2014 · 6 posts · 2 votes
12y
Been there, done that. Courses are helpful, but the many peripheral services they offer are very expensive and can been done as well at greatly reduced prices elsewhere if you look for them. Looking for more educational courses on investing, then go there, but I found many of the teachers were old school and not current on the markets.
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Najeriq Mentor
Columbia, SC · Member since 2014 · 36 posts · 5 votes
12y
At the end of the day some people will never read a word of free information you can find online.
And some will never purchase a mentorship/course.
My philosophy is just to pick one and do it.
If you can afford the course and think you can make a good ROI, go for it!
If you can't afford it there's so much content online it's overwhelming! (your investment here is time, effort and energy put into due diligence)
Which ever path you take don't stop until you reach the success you deserve
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Account Closed
Buffalo Grove, IL · Member since 2014 · 3 posts · 0 votes
12y
for anyone who has attended the 3-day training at flipping formula, will they fund a home without you purchasing more products and services? Looking for a reply from someone who attended...thank you!
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Mindy Chaffin
Involved In Real Estate · Thompsons Station, TN · Member since 2013 · 3 posts · 2 votes
12y
My husband and I were one of the first to go through the Flipping Formula and we are members of the "Inner Circle" that being said, I love Dave and Peter and have nothing but respect for them BUT I don't think my husband and I would do it again if we could. You need to remember that Dave and Pete and they have been there to answer my questions when I have asked them but they are just "employed" by a separate company paying them to use their name and their knowledge. (so don't be surprised when they are not at your 2 day event) The company Zurixx still has not fulfilled their contract with us. Since then we have learned that there are so many more courses that you could do that give you better information and want you to use your money to invest. And Janice Jahn they don't flat out fund your deal. You have to put together a presentation of your deal and how much money it can make. Then you will be put in touch with a hard money lender that will also go over your deal again to make sure their cut is going to be worth it. But please buyer beware! I would have much rather read every site, like this one, that is full of so much great information. Save your $50,000 and invest it in property! And if your worried about evaluating your deal properly, there are some really great deal evaluator apps you can use. I do use Peter's app that he gave me, but they are all about the same. you will have to find one that works with your brain:-)
1 Reply
Steve Babiak
Real Estate Investor · Audubon, PA · Member since 2009 · 13k+ posts · 8k+ votes
12y
@Mindy Chaffin - could you go through your first post in this thread point by point now that you have better hindsight on that, and maybe re-write it with having one additional year of participating with them.
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Arktavious Sally
Real Estate Investor · Upper Marlboro, MD · Member since 2008 · 289 posts · 80 votes
12y
@Mindy Chaffin Save your $50,000 and invest it in property.
Mindy was that a typo? $50K for a Real Estate course. Wow..
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Mike HurneyPro Member
Real Estate Investor · Boston, MA · Member since 2009 · 2k+ posts · 542 votes
12y
@Mindy Chaffin "And Janice Jahn they don't flat out fund your deal. You have to put together a presentation of your deal and how much money it can make. Then you will be put in touch with a hard money lender that will also go over your deal again to make sure their cut is going to be worth it."
What do you think you'd have to present to fund your Deal with Conventional Financing?
What would you like to see in a presentation to Lend your own money on a Deal similar to your Deals?
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Mindy Chaffin
Involved In Real Estate · Thompsons Station, TN · Member since 2013 · 3 posts · 2 votes
12y
For the presentations that we put together, we have this wonderful software! It puts all of our numbers in, rehab estimates, carrying cost, insurance, etc, and extras and then it puts in our pictures of the property. It comes up with the ARV and other $ and then it will even break down and evaluate the property for rent or flip for our area. The finished product is just beautiful and lenders love to see it. When we look at a deal we want to see as much information and a professional presentation as well. We also like to see past work that has been done and if the property is not in our area, we want to see numbers on what the market is doing in that area.
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Thomas Manuel
Plano, TX · Member since 2013 · 77 posts · 19 votes
12y
@Janice Jahn I have tried to respond to you with a message, but it will not go through for some reaseon. LIke some of the others said, they will only be funding you with hard money lender or transitional funding where they loan you money for 2-3 days to close a deal, but you never actually get there money, it only funds the deal after your buyer has funded there deal in closing and then they charge you like 2-3% I think for doing that.
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Raymond B.
FL · Member since 2009 · 2k+ posts · 357 votes
12y
@Thomas Manuel,
To make the @ work, do the following:
Hold down the shift key and type @?
Look below this Window, and you will see a list of names of people that have posted in this thread.
Click on the name of the person that you want notified via an email, that you responded to them.
If you are a Colleague with anyone that has NOT posted in the thread, and you want them to see your post, hold down the shift key, type the @ and the first 4 letters of their First or Last Name.
Then look below this Window and click on that person's name.
Raymond
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Thomas Manuel
Plano, TX · Member since 2013 · 77 posts · 19 votes
12y
@Raymond B. thanks for the help.
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Account Closed
Costa Mesa, CA · Member since 2014 · 7 posts · 2 votes
11y
This is from the same marketing company that has Property Wars, Flip Advantage, Fortune Builders, Flipping Boston, Property Bank... the marketing company is call Zurixx LLC...You can look them up under Elite Mentor...Same company where Armando Montelongo started before splitting a creating his own seminars. Don't pay the money. I lost 28k, my 401k. I should have invested the money in the down payment of a house. I used to worked for them, until I realized that it is just a scam.
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Josh Parra
Investor, Wholesaler · State College, PA · Member since 2013 · 61 posts · 41 votes
11y
James Finch Do yourself a favor and attend all of your local REIA's, network and meet people actually doing the work in your area. Build relationships and ask questions. Join you local real estate groups on meetup.con and try to find someone willing to help you out. It's all about networking and it can all be done for free.
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