Than Merrill legit or scam?
Real Estate Agent · Miami, FL · Member since 2016 · 11 posts · 2 votes
@Raffaello Cervera - you should try Googling him. He was on a flipping show on HGTV about 10 years ago and rode that fame to a Guru program. What was being advertised is a typical Guru pitch. They give you free tickets to the first meeting. Then they spend that meeting pitching you about the second meeting which might cost a few hundred dollars. If you shell out the few hundred dollars, you get to go to the second meeting where they spend the whole time pitching the third meeting. Third meeting will be anywhere from $10K to $50K.
If you have $50K to shell out on that junk, then you might as well jump in and give it a shot at whatever it is you want to learn. Even if you lose all your money, you'll most likely have learned a lot more than had you given it to a "Guru".
From what I have seen, Than Merril is pretty legit in what he knows about real estate investing. He's also legit at self promotion and the classes he's offering, for the price he's offering them at, aren't a good investment.
I have actually been to Than's company's workshop before. They are called fortune builders. I went to the free one night seminar, then got invited for the weekend workshop for a price of $180. I don't believe it is a scam but definitely an up sell program. Basically what the program is, it is fortune builders trying to start you up individually to become your own "investing franchise" like you would if you bought a Mcdonald's or a Subway resturant. They basically give you all their tools and programs, coach you for 6-12 months then let you go do it on your own. I do think they have a good intention but joining the program for the basic tuition was $35K alone and only went up in price to 50K to join the advanced program. I did not like the pressure I got from them however, of them trying to sway me to join by using all my savings and credit cards at the time I attended. I will say though if you do have a chance to go to the free night seminar, and from there able to proceed to the 3 day weekend workshop, I would say DO IT!!! They actually gave out very very valuable information at this workshop and was worth every penny of $180 bucks. It also put me in a great spot where I got to network and meet a lot of other investors and possible capital partners who needed help getting into the industry. Hopefully this helps! If you need anymore info I got all the books and notes in my closet and don't mind sharing!
Accredited investors are a specific IRS term for more wealthy and knowledgeable investors who need fewer disclosure laws. It is not accredited... as in students and schools.
they are scammers, they get you to their free conference then try to sell you three day seminars
@Raffaello Cervera I would not say scam, much to harsh. I would say, he is there for ONE reason to sell his " system. If you notice his advertisement is the EXACT same wording for every market. Find someone that is doing deals vs talking, learn, and DO your self, Good luck
just attended 2nd day class.I agree the $197 for 3 days is well worth it. And they should only expect payment that day from an accredited investor.
I was pulled out of class for the sales pitch during the retirement saving account presentation. The section I was most interested in.
Nick C. I love to take you up on your notes on that section.
NO..I did not buy FB program.
Jeff bethon..investor/flipper
Not sure exactly why anyone would believe a real estate license would be essential - my 50+ years experience would suggest otherwise. It could be beneficial, to a point, but there is also a downside. For example, many FSBO sellers won't even talk with a Realtor let alone do business with one. And a real estate license has little to actually do with investing, itself. If you can read the MLS listings, and if you can analyze potential for a property and you know how to comp properly - all things a good course teaches - there is no need to have a real estate license. Once upon a time, before sites like Zillow, only Realtors had access to the invaluable MLS SOLD book, which would be very helpful to investors. Not so any more - it's all online.
I am not opposed to investors having a license - I just don't believe it is necessary
Full Disclosure, I am a FortuneBuilders client/student. I am in a very tough market and have bought and flipped a property here in the San Francisco Bay Area right before the boom that started a couple of years ago and lost money on it because of both bad luck (squatters who caused a lot of damage and accidents). I also didn't follow the program 100% and put a little too much faith in partners. I learned two costly lessons. Both cost me a lot, but they are lessons I choose to consume as a positive versus as a negative. If given the opportunity again, I know I would do better.
Through the program, however, I was also able to take advantage of the Passive Income program Than and FortuneBuilders offers. Between my father and I(who I facilitated the deals for him) between us now have 5 properties out of State with good Property Management Companies and as a guy with no Real Estate experience prior to joining the program 6 years ago, the program opened my eyes to the possibility that I otherwise would not have found. I ultimately will be able to retire much more comfortable than my options before and that is worth I think, the $50k investment.
Not everyone is born into or raised with the same opportunities or education or experience or knowledgeable parents in life, sometimes you get lucky, sometimes you get the right education from a mentor, and sometimes you stumble on a show at 4 am that you take a chance on and it can change your life. Here's to everyone's good luck and fortune!
Listening to this guy's advertisement now. LOL
People like Than Merrill that want you to sign up for their seminars are showing you a way to make money off others. Morally I see that as corrupt and no better than a beggar on a street intersection. Wanted money but refusing to give any service or sale in sweat equity. If you want to make money then be the best at helping others in need and giving back to your community. There are many companies that were nothing more than pyramid schemes or investments like bernie madoffs and other companies that sold stock without having a product or service. They ruin our country causing inflation and financial caos.
he is a scam there are better ones out there
I have the same question to Than Merrill that I do to all these get rich quick gurus: If it's so profitable, why has he himself stopped flipping houses?
Glad I stumbled across this thread since Than Merrill is coming to my town this coming week. Considering the fact that I am new to RE, just moved to Delaware which only has one REI Club that meets local to me once a month, and it is free to just go and listen, I am looking forward to his seminar. It gives me a chance to see if what I have been spending my time studying is sticking and if I am becoming more familiar with all the terminology used in RE.
As with anything DO YOUR DUE DILIGENCE. And you did the right thing by asking here. I worked with both Than & Paul years ago through Robin Thompson. I didnt buy their course, they didnt have a course yet. They were working with Robin at that time. They were down to earth and hard working. They are doing what they love and offer the education for a cost. Can everyone afford it no. Is there a benefit to it absolutely!
Ive paid thousands for seminars boot camps...
@BiggerPockets .com is by far the best education you will get. Unless your looking for a one on one mentor. Oh wait! you can find those here too!
This post is an old but I see there are people still looking for answers.
Hope this helps!
This is a true scam!!! My husband solicited a coworker to go with him to the initial session because he knew that I would never had let him make such a foolish decision. His coworker and him were both gullible and had been sold a dream. They sign up for the $50,000 package. Immediately after signing up, my husband started receiving weekly calls from their "coach" sometimes 2-3/day, 2-3 days/week. This went on for I'll say give or take 6 months. They've been in the program for over a year now. My husband never gets any calls from anyone anymore. Just where is everyone now that was calling when they initially signed up?? Who is here now to advise them on what they are or aren't doing to land an investor?? Oh, I know, they're part of the scam entourage, so now they're non existent. They have not even been able to get an investor, let alone flip a house! I would never recommend this scam to anyone unless they just want to give their hard earned money away and if you want to give your money away, I recommend giving to charity or an non profit organization of which someone who needs the help could benefit. You're better off investing your money into property and learning as you go than wasting it with these people. The only thing this "program" has done for us is given us another bill!!! So stay away, far, far away!!!
it's a scam where they make you pay $200 to come to a second three-day seminar. At that seminar they spend three days lecturing you only to be trying to convince you into investing either $30,000 or $40,000 or $50,000 into their Fortune Builders Corporation
@Dakela M.
Dakela my name is Jeff and I am the Customer Service Manager at FB and for Than. I saw your post about your husband and his co-worker and wanted to reach out to you personally. We are more than happy to help your husband get restarted with our program and provide any assistance necessary to help him and his partner. I don't know your last name since it's not listed so they only way to reach out to you is on this string so we can be of service. Please message me directly and we can jump on the phone anytime that's convenient to you. Thank you, JeffIt is a scam! Even the first freebie session is a scam! I feel bad for the fuel I burnt to drive to that class. They only talk about the common sense stuff, stuff that is a no brainer. I found their marketing very aggressive, no different than what some of the solicitors do. Everything they teach you can find it in Google. Do not waist your time! And one more thing they will keep chasing you forever to ask if you can attend to their free class so make sure you make it very clear for them when you say no.
It’s unfortunate that people like Than prey on unsuspecting people who don’t know any better. Reminds me of pyramid schemers who always have a ready supply of people willing to drink the koolaid.
Than’s current radio ad states he will teach people how to invest USING OTHER PEOPLE’S MONEY - as if the hard part is figuring out how to spend other people’s money!
Let’s be honest, flipping houses is easy - the hard part is making enough money at it to justify your time spent. People flock to Than because they saw him on tv and want to be wealthy like him - which is easy for Than to exploit.
I attended one of the "free" sales pitch seminars just last month. A previous poster nailed it when he mentioned you are literally boxed in with no way out! They seat you in such a way that it's extremely awkward to move. They shut the doors and set up tables for sign up/payers that block the way out. The entire set up was beyond uncomfortable, it was borderline scary.
Most outwardly call it a "scam" because it's a supposed education that you just keep paying more and more for. They feed you tidbits and crumbs with the promise of bigger slices if you pay up. If we had that kind of money and just read a few Flipping books we wouldn't be making them millionaires. We'd be making ourselves millionaires! So yes, I agree with the label "scammer" for these "gurus."
In this business you can only learn by doing. Paying those people IS NOT worth it. You'll save more than money by getting some HONEST books that will give you the hard facts straight up and won't string you along praising the business. Go for honesty!
They say 95% of people who venture into RE fail, what they don't say is that it's because they are misled!
I have the same question to Than Merrill that I do to all these get rich quick gurus: If it's so profitable, why has he himself stopped flipping houses?
Because he's living off of us now!
Not sure exactly why anyone would believe a real estate license would be essential - my 50+ years experience would suggest otherwise. It could be beneficial, to a point, but there is also a downside. For example, many FSBO sellers won't even talk with a Realtor let alone do business with one. And a real estate license has little to actually do with investing, itself. If you can read the MLS listings, and if you can analyze potential for a property and you know how to comp properly - all things a good course teaches - there is no need to have a real estate license. Once upon a time, before sites like Zillow, only Realtors had access to the invaluable MLS SOLD book, which would be very helpful to investors. Not so any more - it's all online.
I am not opposed to investors having a license - I just don't believe it is necessary
Personally, I don't have the privilege of going into real estate because I had anyone handing it down, so to speak. I feel like the only/best way to acquaint myself with the business at an entry level is by becoming an agent first. I haven't held a stable job in 11 years! Commissions will get me income to start with, and I'll get a hands-on education. I'd like to branch off into investing from there.
I am so grateful for Bigger Pockets and those willing to share their experience and knowledge. I just attended two days (yesterday and the day before) of Fortune Builders 3-day "workshop/seminar/presentation" and I'm not sorry I attended. I'm certain I could have gotten the nuggets of information here or from another free source but I don't mind paying for a little infotainment. That said, I couldn't stomach day 3 as the intensity and volume of sales pitch increased. They may truly have a great product but I just couldn't take it anymore. They talked a lot about the success of the McDonalds franchise at greater than 90% but I wonder if their franchise-like product boasts the same. They didn't say and I wasn't about to go to the "interview" to ask. I'm sure their organizational systems and templets have value but I think my $30,000 to $50,000 will be better spent elsewhere. I'm learning so much from my first project currently in progress. Thank you, BP and all of the generous people who share themselves here. Oh and the BP calculators rock!