Lifestyles Unlimited of Texas
San Antonio, TX · Member since 2012 · 22 posts · 17 votes
I recently found out about a real estate investing mentor group called Lifestyles Unlimited based in Texas and decided to do some research on it. I came across a thread on this forum about the company from 2008 and very few people were involved with them. I figured I'd pose the question again since its 4 years later. Maybe there are some credible members of this forum that are also members of Lifestyles Unlimited who have joined within the last year.
My question is how beneficial is this group? Has anyone on here experienced success in real estate investing from their training? Is it worth the $500 membership?
If there is a recent thread on Lifestyles Unlimited, please link.
I joined lifestyles back in 2010 when I was just getting my feet wet in RE and didn't know about biggerpockets. The $500 2-day was educational and I did learn a lot not knowing much going in. At the time I would say $500 was worth it for me, but that's about it.
I'm sure in one of the ten pages of the other lifestyles forum thread it covers this but there's three levels of membership; 1) $500 - you get to attend the 2-day, you get access to their "vendor's list"; 2) $5000 - SFH mentorship where you get emails from their SFH mentors (in-house realtors), access to their online SFH education, SFH roadtrips 3) $10K - MFH mentorship - where you get emails of their multi-family deals, get access to their MFH mentor and MFH education, get to attend their field trips where they tour current memeber MFH deals.
Vendor's list - don't be fooled that just because they're on their vendor's list that you won't have problems. It's hit/miss like angieslist. They have a review system where people put their feedback negative/positive. Most are positive since I think most members are affraid to post anything negative. And in some cases some of the positive reviews are biased since I've had vendor's email me to give them positive feedback before a job was done b/c they were so close in winning "vendor of the month". I've heard to be a vendor it's $500 a month. I've seen vendors come and go as well. On the flip side I have to say that I have met some good contacts and develop good relationships with some of the vendors that I still keep in touch to this day even though I'm not a lifestyle member anymore, but I recommend that you still do your due diligence when you select a vendor from their list. The best vendors/trades people that I've found was not from their vendor's list but from the local meetup RE investment email list, which is FREE!
SFH Mentors - their SFH mentors are in-house realtors. They send email blasts of "deals" they found quoting exact numbers like "$535 cashflow / month, XX% equity capture, etc.", but yet give an approximate on their rehab and purchase price. e.g. 70K purchase price, 12K rehab. i'm pretty sure they don't even do a walk-thru of the property they advertise since it's just an active listing on MLS, which you can find yourself through mls or realtor.com. the emails contains basic info but not the property address so you have to reply back to the mentor that you're interested. they say that they offer the deal to the first the responds, but i have a feeling that doesn't happen all the time. since you're competing against all the other members that respond to the email blast and they can only submit one offer, don't count on the in-house realtors finding you deals-that-they-scrub-off-mls. most members i've talked to find it on their own and submit it to their mentors to write the offers up, if at all.
They offer a product called quest, which offer mls access to run comps for $79/month. i haven't used it but i think there are much more cost effective and creative ways to gain access.
MFH Mentors - in dallas there was only one MFH mentor. all the PIG members pretty much seemed to be fighting for his time. 20,30,40,etc. MFH members and one MFH vendor. you can see how that works.
To some extent when you work with their mentors (SFH/MFH) there's a leap of faith you have to take that the deal their bringing to you and the info they're telling you is legit and you should act now. If you didn't, the mentors move on to the next willing member who could act... now!
A tactic they use for you to sign up for memberships is that "you will earn back your membership fees." Sounds good, but that's just them giving back a cut of the realtor's commission check IF you use their in-house realtors if you can put up with the competition with other members for the realtor's time.
They also have online education for SFH/MFH investing. Education being online recordings of live sessions they recorded out of the houston location. it's pretty boring if you can sit through all of it and you could learn a lot more from BP. IMO I wouldn't say there's a lot of substance in the education for sitting through 60-90 minutes of it.
My opinion - spend the $500 for the 2-day but absolutely don't sign up for any other memberships no matter how convinced/pursuaded you are. If you're willing to spend $5K to use their realtors, you might as well spend $2k and get your RE license yourself. If you're willing to spend $10K you might as well spend the money toward more accredited education like the CCIM for MFH education. Or just spend more time on BP, which cost you NOTHING.
This was my experience, it could be diff in SA/HOU. Mostly negative since I'm still bruised for spending 10K. The grass is not greener after the $500. I was persuaded since I was a newb, eager, and didn't know of other resources like meetup groups and BP.
Sorry, but I wouldn't hand ANY money to someone who says that cash flow is rent minus PITI and then says appreciation will make up for any other expenses.
One of the more ridiculous things I've read in a long time...
I've never heard anyone at LU say that or read that in any of their documentation. You are right, that would be ridiculous but I just can't see anyone there saying that.
Ben Hughes, all I can say is that is how Steve explained it one time on a radio show. I have a member manual, 1990-2009 copyright, that explains cash flow as being money left after PITI, its depicted on page 6. I know they have "systems" in place that in a perfect world may indeed minimize other expenses but its just not a perfect world. I have not actively listened to the radio show in a few years but they use to constantly say and give examples of someone buying a house and having $200 or $250 a month left after PITI as cash flow that was spendable money. I think they are now saying its more like $400 or so. All of what I am saying can be found on the archives if someone was so inclined to listen to them all. Maybe they have included some repair costs in their more recent radio shows and calculations but years ago they did not. I am not all negative on LU. I think the message they are trying to get across is spot on, but the numbers just don't add up in the real world. Either way I think it is good that you are member because they do help people obtain the right mindset and there are some good people to network with in the group. I like LU, I just don't believe in the numbers they convey.
Damn, just damn.......after the big build up now this...
"Due to various mitigating factors, we will not be opening an office in the Atlanta area at this time. I know that many of you will be very disappointed with this news. We are immensely disappointed, as well.
We urge you to consider the tremendous value of your Lifestyles membership. Remember, again, that we have members across the U.S. And Del Walmsley has not offered his Seminar in any other location outside of Texas except for his upcoming trip to Atlanta.Atlanta members were offered a specially priced charter membership for 3 years for just $500. (The regular price for this is $1,220.) Your membership begins on February 22 and goes for 3 years from that date.
Stay with us and 15,000 others who have been through our unique educational program. We are sure that you will enjoy the tremendous benefits of building wealth and passive income through Real Estate investing. Let us show you how.
If you have any questions or concerns, or if we can assist you in any way, please respond to this email or give us a call at [REMOVED]." Sincerely,Hello, I am just beginning to learn about RE investing. Was there additional discussion on Lifestyles Unlimited. The conversation ceased 11/2013. Appreciate the feedback.
Hello, I am just beginning to learn about RE investing. Was there additional discussion on Lifestyles Unlimited. The conversation ceased 11/2013. Appreciate the feedback.
I'm guessing nothing has changed much in the past year...I'm sure this thread (and others) are still relevant...
Wow! What a long thread! All I can say is, I am thinking of joining LSU just because they have given me free education so far that I have heard no where else. I could have retired over 20 years ago by cashing in my 401K and using that money that was making a max of 10% a year to make hundreds of percent in a Rate of Return. Even if I only pay the $500 for the yearly support, I have made much more than I could have anywhere else. This is not a typical guru scheme. The gurus ask $12k-$45K upfront. They offer free education daily. Listen to their podcasts if you do not want to pay, there is a ton of free information.
i do remember they had some coupon code they gave out that allowed me to get 2 years for $500. It does have some very helpful videos/training but a lot of that info you can get off here talking to other investors. It would just take longer to learn all that info @Ciera Calhoun I signed up for it but never been to a meeting. Actually learned to do deals from a mentor i just kept hanging around and buying lunch for.
Hello!
So, would you all recommend getting mentoring from LU for the $500.00? @Ciera Calhoun did you join LU? If so, how did you like it?
Guys we got a thing called BP lifestyles. In BP lifestyles you keep your five hunsky for your family or put towards your first water heater. There is no big up sell on BP lifestyles coming later. I can guarantee BP lifestyles is better than the rest or you get 100% money back...oh wait it is 100% free:) thanks, BP lifestyles member Matt
Wait - There is more!
Special bonus if you act anytime within the next century.
Get your real estate investment questions answered by an average of 100 years combined experienced of investors per post...what is the catch? Zero, zip, nada there is no catch is the catch. Join us on BP lifestyles anytime as we don't rush you when it comes to your hard earned money...oh and did I say it's 100% free!
personally @Wadeah Spite I have been a member since 2010. I would say if you don't know anything about REI they are a great place to start. They can help with the learning curve and networking.
I went to a free LU seminar tonight. They acted like you could own and manage 40 single family homes yourself with little effort if you did everything right. Low cost, low level homes. I'm not sure what world they live in. I've owned several rentals. It's a lot of work. A lot goes wrong with people and with properties. Now reading about the upscale of higher level memberships turned me off.
So from reading all the great reviews I joined the "Free" BP group. The first thing I'm hit with is the up sell to the different level of monthly memberships to get the real member values. This is no different from LU. Maybe cheaper but still a lost leader sales pitch. I'm very disappointed.
@Mark Robson You can get great use out of BP without upgrading at all. The main reason I upgraded to Pro was to support the site. I do use some of the tools, but just about everything you really need is available for free and the most valuable thing is the info in the forums, podcasts, and blogs. Stick around for a month or two and learn what is here and see if you even have a need for any of the Plus or Pro level features. Really the only one I use is the analysis tool and I actually don't do my main analysis with it. I use a couple spreadsheets available free for the Files section. I use the BP Tool once I have found something interesting to make a formal printout to give to my wife and maybe lenders if I am going to need financing on the deal.
@Mark Robson Hi I work at Lifestyles Unlimited and I want to thank you for attending our free workshop. We appreciate you taking a look at us. We are not for everyone.
I do however want to clear up a statement that you made. I am afraid we may have miscommunicated something to you. We typically (I have never heard 40) will suggest someone own 20 homes. 40 homes is work. (Although we help expidite the knowledge of how to take care of rentals and tenants) We teach no more than 20 homes and you should be moving into MF. We would much rather you own a 40 unit apartment complex. Maximize your resource and return by owning an apartment.
I just wanted to clarify that huge difference. Have a great day and much success to your investing. Yes, Bigger Pockets has a lot of great information and people on here.
I just joined Lifestyles Unlimited last week. They had a promotion for $250 for a year. I went to the 2 day seminar split between SF and MF on different days. To me it is worth it. I knew most of what they taught via self education/bigger pockets. That said, being in Texas, it was worth the networking and I did learn a few things that I did not know. Furthermore, you would likely get your $ back from the vendor discounts they are affiliated with due to leveraging the groups buying power. In my opinion if someone is starting with very little knowledge, the 2 day class will teach them most of what they need to know to take action. As far as the upgraded memberships there - Challenge and PIG programs, it could be worth it depending on your capital and your specific needs. Everyone has a different situation.
I am a member of LU, and they have helped me locate and purchase a property. I am also a real estate broker who is perfectly capable of finding and buying my own properties. I consider LU as a tool in my bag. They help me find properties in cities that I am not an expert in.
One of the first things they said in the meeting I went to was, "Nothing we teach is new. Nothing we teach is proprietary. You can find everything we teach at your local library." Most of what they teach I had heard before.
I benefit from LU by getting emailed 20-30 properties a week that fit the mold of what I am looking for. And sure, I can find these my self. I am a member of 4 MLS boards in the stat. But they do the work for me, and I am happy to pay them commission if they find me a great deal. Work smart not hard.
@Ed Neuhaus , are you a Challenge member? I am thinking about joining this level and then upgrading to the PIG level after I get a few more properties.
Yes @raky Patel , I am. But I hear prices have gone up.
Natlie, I might join at the lowest level, I think some of the resources would be worth it.
But I've had some experience in commercial and residential property ownership and managment. People are crazy, it's lots and lots of work to self manage. It's as much a job as an investment and I was just surprised.
The example I gave came from the young man teaching the class in Austin 11/11/14. He had dozens of single family homes and acted like beacuse he fixed up these cheap homes at the beginning and screened the best tennants( for his lower income type rentals), mManaging all these properties himeslf took almost no time with no problems. . He's a paid teacher, selling your education services. But I want to move to his world.
@Mark Robson
I can tell you I have 8 rentals currently. Commercial properties as well. Full time job. Mother of 3 very active children and a husband in there too. I can tell you my single family homes are the least of my daily concerns. I do believe the difference is the map. If you already know how to take care of a situation or can preempt a situation from happening it does make things much easier in the long run. If something comes up I do not know about I have a group of investors I can go to and ask questions. "Real Estate is easy people are difficult..". As my boss Del says.
The vendor program is a benefit but truly just the tip. It really depends on your goals. We really help people focus on their goals as it relates to you and your family. Feel free to message me any questions you may have.
I am not a LU member, but toyed with the idea of going to Houston for the two-day weekend course after listening to a few of the LU Real Estate Investor Radio Show podcasts. However, now that I've heard more of what Steve and Del (the co-hosts) have to say, I've decided against making this investment because I find Del to be quite arrogant and narrow-minded and Steve to be a fear-monger. Also, I have written both of them several times, as they encourage listeners to do, with questions - to which I have received absolute non-answers. Futhermore, although they both claim to want to hear their listeners' fears, doubts and questions, I have heard Del belittle several people, on air, for presenting concerns. I think there are much better sources of information out there, including BP.
I quit listening to the L.U. podcast a year ago, nothing of value there. It's simply sell, sell, sell, with the same old things talked about every single episode. Del is extremely narrow minded and basically calls people out as being lazy and worthless if they're not pursuing a lifestyle that he has obtained. There's nothing wrong with pursuing success, but he seems to make it all about the money and the house he lives in. I used to follow him on FB, but I had to cut that out as well.
I spent $15,000 for there PIG membership program. The apartments they referred me to were not such a good deal. They have road trips for members. The special road trips were always full even when I responded within 5 minutes of the broadcast. I'm a serious invester and wanted to learn how to purchase apartment complexes. Went to single family homes instead, my mentor kept calling me stupid even though it was their Real Estate agents coming up with the deals for me. I joined another mentoring group that charges me $50 a month for mentoring services, and that shows me what deals should work for me. Lifestyles teaches you conventional techniques on how to buy houses. Currently my wife and I own 7 rental properties which 5 of them are renovated and occupied. 5 of these houses we got through lifestyles Real Estate agents. The other 2 on our own. 2 houses are currently under renovations. Should have stuck with the basic program. Lifestyles is an excellent program don't get me wrong. Pricy at best. I guess I don't like being called stupid especially when you have different groups in their organization telling you different things.