Newbie in ATL: Wondering about Fortune Builders

18 Replies

Hi there. My name is Dr. Jamie Foster from Marietta, GA. I recently joined bigger pockets in hopes to gain some much needed wisdom in the real of Real Estate Investing. This will be mine and my wife's legacy we plan to leave for our kids as well as teach them how to do the same thing. I am done with my business owning me and am ready to diversify my knowledge and soon my wealth. 

My wife and I recently attended a local event put on by the company Fortune Builders. After the event, which we learned a ton of information from, I found out that one of my patients used their program to do several flips this past year. I just want to put some feelers out there about the program and also about Wholesaling Inc.

Any help would be greatly appreciated. Thank you all for the amazing information. I LOVE the podcast. 

Dr. ,

You'll have much more interaction and education at a local REIA. I understand FB costs are enormous.

If you get to a point needing a licensed general contractor, let's get in touch.  Currently working on some rehab's in ATL Westside. 

Jamie,

I attended the free course in Birmingham a few weeks back and felt like it was a scam. I could’ve benefited from the three day course, but it did not work with my schedule that weekend.

All the reviews I read said all they do is sell you to get the mastery program which is like $40k+. The night I went to the Free event they made it seem really easy to get rich and focused on the lower class.

Furthermore, I think it’d be with the $200 for you and your wife to attend the three day event and see how you feel after that.

Luke Lawrence, thank you for your input. We did attend the 3 day seminar and actually were very impressed by the amount of information we received and that everyone was pretty authentic. I am just in a place of raising capital for my education and wanted to know the best place to invest to receive a return. Fortune Builders is the company my wife is almost 100% sold out to. I am not sold out either way. I definitely do not like the amount they charge but for what they give I can see how it is worth it. I know Wholesaling Inc charges way less and focuses on wholesaling first to receive a great ROI.

Any thoughts about where to start would be greatly appreciated. Thanks!

I attended the 3 day workshop in Atlanta this weekend. Lots of good information and very professional. The Mastery Program is the equivalent of purchasing a franchise and use Than's systems. You can take 5 people into the program with your purchase. They have their own lenders as well. I didn't buy this weekend. Maybe they'll call in a few days offering a huge discount. Overall, I was impressed and it didn't feel like a scam. 

I am skeptical of all the expensive coaching classes. These gurus make more money from coaching rather than executing their strategies. I would recommend networking and trying to work with experienced investors who are willing to use your time in their flips.

Originally posted by @Jamie Foster :

Hi there. My name is Dr. Jamie Foster from Marietta, GA. I recently joined bigger pockets in hopes to gain some much needed wisdom in the real of Real Estate Investing. This will be mine and my wife's legacy we plan to leave for our kids as well as teach them how to do the same thing. I am done with my business owning me and am ready to diversify my knowledge and soon my wealth. 

My wife and I recently attended a local event put on by the company Fortune Builders. After the event, which we learned a ton of information from, I found out that one of my patients used their program to do several flips this past year. I just want to put some feelers out there about the program and also about Wholesaling Inc.

Any help would be greatly appreciated. Thank you all for the amazing information. I LOVE the podcast. 

 You can refer to my company profile and see how I feel about the "Guru" program cost in general, but here are some things to consider. In addition to the cost of the program, which is usually $10K+ and in some cases can exceed $50K, you will also need to pay for travel and lodging to a variety of events throughout the year, so you aren't done paying yet. Getting a lot of information isn't exactly a good thing. Even if I go to an all you can eat buffet, I can only eat so much. 

All of the information you get is available to you for FREE or at least at a fraction of the price online or in your local market. The key is implementation of what you learn and the execution. Which means you will need some hand holding. You only get support and guidance for 12 months, unless you pay even more and can then extend it to maybe 24 months. Even then you aren't being mentored by the "guru" himself. 

You get assigned to a coach. Then you get a few coaching calls with a real estate investor being paid $40 an hour to coach you. How successful is that investor, if they're willing to do coaching calls for $40 an hour. I know a lot of the Fortune Builders coaches in Atlanta personally and I wouldn't pay them $40 an hour for advice, much less $50K. Information is easy to find, it's the support, guidance and accountability that you need and that you won't get with most of those programs.

If you're looking for a structured program to help you get started, there are a number of great programs out there for $1K or less. What do you want to do first? Wholesaling, rehabbing, rentals, multi-family, etc. You'd be better off investing in a course specific to that strategy and start with the FREE stuff first.

Last but not least, you should have to save up, borrow, go in debt or drain your resources for your education. Yes there are some great real estate educators, mentors and the like. Many are contributors to this forum. If you've got the resources to invest in Fortune Builders, you'd be better off finding a mentor or partner and just doing some deals. You'll learn more from that experience than you would ever get from one of those programs. 

Hi @Jamie Foster , I don't have any experience with FB myself, but I do have second-hand knowledge of a friend who did the whole thing, paid the $40K, etc, hoping it would help her make money after she retired.  Here are as much as I know about the results of that, which aren't positive: 

Her first flip last year, she bought off the MLS (in Charleston, SC) for $200K. She was told by her contractor that it would take 3 months to rehab. It ended up taking 9 months. I don't know what the budget was, (but it was a smaller ranch, so it couldn't have been too high). She did reveal that she sold it for about $380K. Her profit, after all the budget overruns, holding costs, etc? a measly $3,300. That was terrible, considering what she bought at and what she sold at, and the fact that it was a smaller ranch. FB may have told her a few things, but they didn't tell her how to keep control of her costs, find a good contractor, manage the process, etc.

So don't think that just because they seem authentic, you should pay all that money. They obviously didn't tell her everything she needed to know to make money! As others have said here, you can get the info you need by going to local REI mtgs.

Hope that helps!

@Jamie Foster, 

Welcome to Bigger Pockets. I recommend that you join a local real estate investors association to learn more about the business. GAREIA.com has a number of monthly classes that are great for beginners. Good luck and let me know if I can be of assistance. 

Regards, 

Bill Hampton

@Bill Hampton thank you for the advice. I literally just sat down with another investor in Atlanta  yesterday and that is exactly what she suggested. We signed up for the meeting tonight. 

Thanks for the feedback!

Originally posted by @Jamie Foster :

@Bill Hampton thank you for the advice. I literally just sat down with another investor in Atlanta  yesterday and that is exactly what she suggested. We signed up for the meeting tonight. 

Thanks for the feedback!

 Bill - great advice

Jamie - I'd planned on being there but there is the small issue of the BIG GAME tonight. Go Dawgs!!!

@Denny Faircloth let me clarify. By "WE" I mean I signed my wife up and she is going tonight. LOL 

Enjoy the game! Let's go DAWGS!!!

I wouldn’t pay for it, I went to the low level but didn’t buy the next up. I kept in touch with a guy who did and said it wasn’t worth it. Robert Kioysaki’s 3 day for $200 was well worth it in ideas and tidbits for me, but if you cruise around this site, there is 1000 times more info and all of the seminars are like drug dealers. They give you a taste to get you hooked and then upsell you to the next level and the next level and the next level. They won’t give you al the answers in a weekend class.

The only fortunes those con artists are building.. are their own. 

@Geoff Perkins what did you think about the software? That has been one of the biggest draws for my wife and I both. My wife feels a lot more confident that if she has the "system" (the software) that she will be much more confident in moving forward on deals. 

Thank you for your advice. It seems to be consistent across the board within the BP community. I really appreciate the candidness. 

@Lloyd Stanton Hilarious...BUT true!

@Jamie Foster , it’s been a while since I went to their seminar and I never used their software so I can’t give you any insight on that. From my experiences there are some pretty good software options out there for not a lot of money (check out houseflippingspreadsheet.com) but I don’t think any will be a full turn key business system. They all seem to be tailored to a specific part of the business. Flipping appears to be a simple business on the surface, and if you feel like gambling, it can be simple. If you want to really turn it into a profitable business then it needs to be run as a business and it gets quite complicated. I don’t mean to scare you away, merely advise you to read and do your own research as much as possible before diving in. The seminars tend to sell the business as follow our system and you will be on a beach sipping cocktails in 18 months. From my perspective (others may have a different opinion) this business is more complicated than that. It will give you all kinds of bumps and bruises but it is also very rewarding and if done properly can be very lucrative. Sorry for the novel, I could go on for days but the moral of the story is; research, make a good detailed plan, start small and be prepared to spend extra time and money in the beginning because things will go wrong but not having the capital to overcome the problems will sink you. Best of luck! I love the business and encourage you to give it a try!

Disclosure: Customer

Hi @Jamie Foster I am a Mastery student. It is quite expensive, but I'm enormously grateful that I did the course. I was very young and had no business or financial experience when I started. I was an agent, but didn't have much experience at all with contracting or investing, so for me, it was totally worth it. It's like anything else, you get what you put into it. I still have access to all of their coaching materials, which have gotten to be quite advanced in their strategies. I also get to attend the bootcamps and conference each year for very little compared to other seminars. I have to pay for food and travel, but the cost of entry to those events is very low. You can continue to work throughout their program and some people I know have done an advanced mastery class with them that they also said was very helpful. I agree with some of these other folks that BP (which didn't really exist then) and local REIAs are phenomenal resources, but some of the REIAs may not offer what you like. I don't personally enjoy the REIAs in my area and prefer to network with other investors I encounter in the field.

I have no affiliation with Fortune Builders.  I am not selling coaching!!

@Jamie Foster In 2012 My wife and I signed up with Tim Taylor, who is a success coach similar to Than and FB, with similar costs. Tim was instrumental in our success. We flipped our first house in Charleston in 2013 and made $30k. Off to the races! We have now flipped 50 houses beginning in Charleston, SC and are expanding state-wide in South Carolina. In 2018 we will net 4x the income brought home from my professional 9-5 job in 2013, AND add over $100k to my self-directed IRA this year.

My friend Tom started with FB in 2014 and now owns 75 "doors" and has a contract to buy 3 mobile home parks next month bringing his total doors to 135. Tom also does a rehab/flip here and there and some wholesaling. Coaching is key!! FB is a great coaching program. Tim Taylor was a great coach. Some people do well and some don't. The difference is in the execution. When I played HS basketball, I had a good coach, but the shots I hit and the shots I missed were on me, not him. My wife and I would not have succeeded in this business without (expensive) coaching, and I think Tom would say the same (you would have to ask him). We all face massive struggles in life and in business. Having a coach or a team of coaches to call on keeps us going.  @Troy Gandee is a FB success story as well.

There are people who do great things by reading books and watching YouTube videos. I read every day, but books can't keep me going. I need support from experts and coaches. 

What @Denny Faircloth said... Kudos..

@Jamie Foster, get specific about what YOU want to do and what YOUR goals are. Then find a cheaper alternative (even free) that is specific to that niche of REI. The space is huge and you have to hammer down so you don't get analysis paralysis. If you need a kick in the ***, get an accountability partner that invests in your market and pay a fraction of the costs. Then get your edu from a cheaper course, or perhaps the thousands of books and podcasts out there for free. BP is great too.

If I gave one piece of advice, it would be the advice I got when I started. Learn step 1, DO step 1.. Learn step 2, DO step 2, and so on. Don't try to learn it all, or even half of it, before you start taking action. This stuff takes a while to build on itself and compound. So just get started small and keep learning as you go. FYI I'm also in Marietta if you want any local advice property wise. 

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