Fortune builders

10 Replies

Is the mastery program for Fortune builders really worth 25,000? They seem to know their stuff but it's really hard to handover 25,000 for only a promise in return. If there so sure of their system why can't you go through their mastery program and pay after....

find a good free mentor in your area and save the dough for your first deal. I'm sure some people here say other wise. My personal experience. 

If he was so good at RE, why is he spending most of his time teaching? All he does is create competition for himself in every market. Think about it, if all the guru systems were as fantastic as advertised, thousands of people would be flipping houses all over the place competing with professionals and driving prices of distressed assets way high. Kind of like what happens when hedge funds move into a market. If I was a successful flipper, why on earth would I enable so much competition? Unless the teaching business was far far more profitable than the flipping business. Which is what it is.

My wife and I signed up for FortuneBuilders in January and I have to say, starting out with no experience they are very convincing.  I learned a lot in a short period of time but if I could do it over again and did some research before hand on other options, I would probably not have signed up.  Really didn't want to pay that $25K either!  I think it's more valuable to have a mentor who you can learn from than to pay $25K for systems and not know the best way to use them.  By the way, $25K is just the starting point.  They will try to up-sell you on other things after.

That makes complete sense as there was about 150 students in this class alone and they suggested everybody to do their diamond package which was actually 33k I came to find out today. so if you consider they do this in every large city across the US their teaching package is much more beneficial to Fortune builders then the real estate business alone! 150 students in class x 33k = 4,950,000 dollars

That 25k can be used to invest. Don't even think about it...Happy investing!

@Jason Lipe  , there are many points of view on this subject. You can learn bit by bit the info or you can increase your learning curve.

It all depends on your goals. If you want to go full time in RE and live out of investment and do all kind of creative deals and lots of marketing, might as well learn it quickly. 

Now, if your goal is to buy one or few properties a year, this site is perfect for you and you'll learn also from your mistakes, right? Plus, reading a ton of RE books, going to all kind of investment clubs will add to your knowledge in time.

I had this exact discussion with some of the largest investors I know , most from the BP site and all of them started with a paid program to learn quickly and gain confidence to take action!

I personally went to one of their seminars and I did not sign up for the 25K as as you were right when you said they were selling too hard, and neither most of people sign up. They might have had about 10 people sign up.

I am not sure how much money they make in selling these seminars, however I'll share with you were they will make their money. They are a big source of private lenders/ hard money lenders. They make money by lending other student's funds to the people that sign up with them and do deals and they also make money by whole-selling or flipping some of the properties that students bring to them.

I did sign up in the past with one of their competitors, and my RE investing business really took off. As in the past I was doing one deal a year, now the sky is the limit. I do partnerships, flips, buy to hold and will build soon, and a lot of the info I use now is what I've learned at that seminar.

I also have 15 year of RE experience from working in the past at a property management company, construction company and being a broker for over 12 years. Still, all the experience did not prepare me nearly enough for what deals I do now.

One more thing, you want to seek advice in everything you do from the people that actually do deals, unfortunately a lot of people want to invest in Real Estate, however they never amount the courage to move on and take action. I will say, as anything in life, there is a 20/80 ratio of investor vs people getting started and acquiring information.

Good luck to you!

Lumi Ispas, Real Estate Agent in IL (#475.113981)
773-392-2906

I am a graduate of the program.

It is NOT for anyone and everyone. But it certainly is NOT a scam in the sense that the material is 'wrong' or 'fake', but I would definitely question some of the statements they make in their marketing/sales efforts.

Fortune Builders' material is geared towards making a business out of flipping a home. They have quite of bit of systems, mind maps, templates, contracts, and marketing material that are turn-key. Their intent is not necessarily to make you a 'casual' flipper. This is where the value lies.

It's important to note that a lot of their material (at least when I joined) was geared towards the mid-west/east coast market. Some of the strategies they taught in their course definitely did not apply in certain markets (especially mine).

A big point to consider is that Fortune Builders pitches "coaching" as part of their course -- this was the biggest issue I had with them. When I went through the program, their 'coaching' was summed up as once a week coaching calls for 30 minutes with a coach wasn't even in my local market (most of them were on the east coast). It's imperative as a newbie to have someone accessible and knowledgeable of the local market.

When I signed up, there were 3 busloads of people who also signed up with me. That was over 2 years ago, and to this day, there are only 6-7 people that I am aware of (out of the 3 busloads) that are still doing it today.

Most people were successful because 1.) They have a business background or Real Estate background or 2.) They went in full time.

I would not contest the fact that yes, BP has great, if not the same amount of content, but to find it all in one place along with systems, a roadmap, and a support community (all the other students that have joined), that is what you are paying for.

Like Lumi said, it really depends on your goals and how fast/hard you want to go.

If you want to go all-in like I did, FB is a good choice. 

@Jason Lipe    We've never taken a Fortune Builders class or attended one of their seminars, but over the years we've met people, who after attending their seminars or some other seminar started making & continue to make a lot of money.  We've also met many people who didn't make a dime.  And probably most people won't make a dime.

The difference between the 2 groups-  The folks making money didn't get caught up in the hype.  They took nuggets of information from the seminar & applied it to their business plan;  i.e they run their operation as a business, not a hobby.  They received a lot of information in a very short time frame & applied it.  

Each year we set aside a portion of our budget for learning.  We do this because we believe in continuous learning & we establish a specific learning objective each year.  Is Fortune Builders the right company for you to learn from?  Depends on what you're learning objective is & how it compares to other resources.  Is $25K to much?  I will say this- We never focus on what the other guy is making.  We focus on our learning objective, our budget to accomplish that objective & then compare/contrast all the potential resources that fit within that budget.  

Originally posted by @Lumi Ispas :

@Jason Lipe  , there are many points of view on this subject. You can learn bit by bit the info or you can increase your learning curve.

It all depends on your goals. If you want to go full time in RE and live out of investment and do all kind of creative deals and lots of marketing, might as well learn it quickly. 

Now, if your goal is to buy one or few properties a year, this site is perfect for you and you'll learn also from your mistakes, right? Plus, reading a ton of RE books, going to all kind of investment clubs will add to your knowledge in time.

I had this exact discussion with some of the largest investors I know , most from the BP site and all of them started with a paid program to learn quickly and gain confidence to take action!

I personally went to one of their seminars and I did not sign up for the 25K as as you were right when you said they were selling too hard, and neither most of people sign up. They might have had about 10 people sign up.

I am not sure how much money they make in selling these seminars, however I'll share with you were they will make their money. They are a big source of private lenders/ hard money lenders. They make money by lending other student's funds to the people that sign up with them and do deals and they also make money by whole-selling or flipping some of the properties that students bring to them.

I did sign up in the past with one of their competitors, and my RE investing business really took off. As in the past I was doing one deal a year, now the sky is the limit. I do partnerships, flips, buy to hold and will build soon, and a lot of the info I use now is what I've learned at that seminar.

I also have 15 year of RE experience from working in the past at a property management company, construction company and being a broker for over 12 years. Still, all the experience did not prepare me nearly enough for what deals I do now.

One more thing, you want to seek advice in everything you do from the people that actually do deals, unfortunately a lot of people want to invest in Real Estate, however they never amount the courage to move on and take action. I will say, as anything in life, there is a 20/80 ratio of investor vs people getting started and acquiring information.

Good luck to you!

 Lumi if you were successful by buying training from someone...

How much was it?

What did you learn?

How fast did you make a profit?

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