Chicago REIA, Andrew Holmes
Investor · Lombard, IL · Member since 2015 · 11 posts · 11 votes
Chicago REIA, Andrew Holmes
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Rental Property Investor · Chicago, IL · Member since 2017 · 33 posts · 33 votes
8yWell from my understand after attending one of these 3 day events this is my opinion. This is my opinion only, typical sales pitch period. They get you in there talk about how easy it is to do everything with their help but it will cost you to join chicagoreia.org I heard they had 3 platforms. I'll break it down for you, if you have no experience I would recommend bigger pockets from the start go through all the podcasts that's a education right there. The pro webinars are awesome with all the info you need to make it big. (sorry don't mean to sound like a suck up on BP but the truth is the truth)
They are full on predators at this meetup meetings this is how it goes.
They have like 5-10 on there team they all speak and tell you how great it is and how you can make it big testimonials from everyone and their mother. They have crafted a good program because of the money involved well thought out period. Most of his information restructured he acquired from other people.
The reality is that almost less than 1 or 2 people actually use any of his programs to make money. Out of every class he signs up about 20 people when I was there and these were the costs:
* $10k for the basic program they promise to help with basically 1 property they give you, if they don't want it you get it, because its not a big enough profit for them so you get scraps.
* 25K middle program they give you a couple of properties minor hand holding through their pipeline to keep you happy (maybe if you dont get burned and loose money on the deal) before they disappear
* 35K for mastery this is the big upsell they let you in the inner circle like church of scientology your paying to be their friend and they have to funnel you deals that the top guys don't want first so they feed you some deals to keep you happy and hold your hand. If you watch you can see all his people whispering secrets on who to go after the weak ones.
They promise all the resources you need.
My guess is for every 3 day event he does which is 2 times a year and all the people they sign up outside of that he profits nicely I would guess somewhere around 75+ people or more a year averaging 20K a person makes it a whopping $1.5 million dollars or more a year plus all the inside deals with banks, realtors,syndications and anything they can stick there hand in to get paid. (that's the best real estate deal I have seen just taking peoples money for doing some classes for 2 weeks LOL. No investing no nothing just BS people to believe you.
This is why I feel bad for these people, they push all the people who have no money literally 0 dollars to charge everything on credit cards clear out their savings or cash their 401k plans to pay for this. I find this totally and without a doubt completely unethical and despicable. Also, I find it unethical they keep all the good deals and pass garbage down to their disciples. Most people don't say anything because they are embarrassed they were taken and done want anyone to know they got suckered. I did talk to a few returning people and did say that they did do something with the information they got so that was good. I believe the success rate of this program is less than 20% or so. They have secret side deals with the lenders, realtors that pitch and preferential treatment for property.
If you want to learn just become a PRO on here I was resistant at first too but I gave in and after I saw all the webinars and info I knew I was in the right place. If you want to join any GURU groups period, become a pro first here get all the info on here and then see if you think spending 20K on guru classes are worth it probably not after being on here.
28 Replies
- Real Estate Investor · Buffalo, NY · Member since 2013 · 227 posts · 318 votes10y
Hey @David Segatti Sounds like your typical guru up sell latter. Be careful they can be very persuasive and before you know it are taking out a second mortgage to pay for the same education you could have got for free.
- Property Manager · Chicago, IL · Member since 2016 · 118 posts · 35 votes10y
Like Jose mentioned be careful whenever anyone is pitching anything to you. I actually plan on going to the very REIA you're talking about in the near future. So I can let you know what its all about if you don't get there before me. Also I did a tiny bit of research and it looks like the "insider circle" is actually just a collection of lists they compile for you. Theres a pre-foreclosure list, auction list, probate list and shadow inventory list. They compile them for you once a month for $79 according to their site. Hope that helps for now.
- Investor · Lombard, IL · Member since 2015 · 11 posts · 11 votes10y
Thanks Matt, I forgot about take part. I do remember seeing that a long while back when I looked at them in the past. Went to a meeting in Elmhurst last Wednesday. They talked about their list and indicated that people they work with can get it. They are also doing a 3 day event (which they do 3 times a year) for $39 which includes a bus trip. Guessing the upsell comes during that.
- Investor · Downers Grove, IL · Member since 2015 · 353 posts · 213 votes10y
Years ago I attended a training class. Guess who sat next to me taking the most detailed notes I have ever seen anyone take. Yep. Andrew Holmes.
I didn't hear of him after that, until he shows up at CCIA promoting some bus trip. Then it was radio silence even from CCIA.
Until a video of him circulated on the web (it is now removed). He was speaking at a Dan Kennedy event. He stated how he "USED" the CCIA to get instant credibility and running the seminar would make him more money than real estate.
After that, CCIA pretty much banned him. So he started his own club. HE did it at the same place as the CCIA, but then after some arguments, he moved it to the same place the WCRT meets (yeah that is the training class he was in years ago)
Basically, he is a con-man that doesn't do original things. That is my personal take. If you even give him money for a list, don't you think he is selling the same list to everyone. So everyone will send the same letter to the same people, they all get turned off and only Andrew profits.
- Investor · Lombard, IL · Member since 2015 · 11 posts · 11 votes10y
Great & interesting history, thanks so much for sharing.
- Real Estate Investor · Chicago, IL · Member since 2017 · 8 posts · 3 votes9y
So, I will be going to the 3 day Andrew Holmes real estate class its gotten more expensive $160 now but you get 3 hot meals! Feels a little like prison. Well anyways yes he just passed out this USB stick and provides some basic info to some of the stuff he does sell a monthly service for $79 well does it work? He has 800 members to date so I guess if all 800 were actively attacking the list it might not produce the results your looking for but as an investor if I could get 1 or 2 deals out of this list I might be worth it? Now as far as joining his inner circle I have a theory if I can make the money as he claims granted I'm capable and have the work ethic would I pay it? NO, not before he could prove that I can make the money. I think Real Estate gurus should provide "I kick you in the balls repeatedly refund." Which I would love to propose to him and seriously Id love to sign an contract like this (if he had any balls he would). If your program doesn't work after I pay you thousands I want to kick you in the balls as hard as I can non stop. So I'll report back on his 3 day I have a feeling that it will provide some basic info but get ready for the upsell.
With that being said I will say his 2-5-7 program is an old marketing scam they used to sell. I think it was called make Debt into Millions. Basically, if you owe say 10 credit cards and your minimum is $10 dollars pay the minimum on all the cards except for 1. Now take say $100 pay the one down when you free up that old minimum payment you apply it to the second credit card so you see now your paying $20 on the second card after you pay that off you pay $30 on the third and so on. This idea is not new so he saying you pay off all your property in 7.4 years if all conditions were perfect . I have a problem with this where is the monthly cash flow? Great your paying off the properties but you have to wait 7+ years to get the money back I have a issue with the numbers here?
If I make $1000 a month ($12K ann.) that's 84K over 7 years he's saying the sweet spot is not over $125k properties or so. Basically, your paying of your property own it free in clear but never been able to spend a dollar in 7 years (hope I don't get run over by a bus on year 7). So now in year seven you free up about $6-700 a month and you still have taxes (3-400) and expenses so your adding 700 to that total of 84K over 7 years fast forward say 10 years. So if you look at the numbers if you pay nothing down over 10 years you make $120k if you pay it off over 7 years never touch a dime you make $145K. Do you think waiting 7 years to see income is a good idea can never spend it so keep driving your yugo? I'm not sure about that if you doing it as a investor. Basically, you made $25K more in ten years. And the numbers work the same no matter how many you have so his idea of owning 60-90 properties and whos gonna manage them sounds a little ridiculous. I would personally rather have the $120k and get to use it or save it and let the bank carry the note. Anyone have any thoughts on this? Love to hear them please. Also, love Andrew to post a comment (and my ball kicking refund) :) I like constructive feedback.
- Rental Property Investor · Chicago, IL · Member since 2015 · 275 posts · 271 votes9y
@Account Closed
Let's please get the facts straight.
1. The blue USB stick we give if someone is coming to the 3 day is a list of few hundred houses that are either pre foreclosures, probates etc. The entire list of pre foreclosures, probates, bank owned properties, cash buyers list you can buy from us for I believe $159 per month. That is about 40,000 distressed properties. Chicago REIA has over 800 member most don't do mailings or active marketing at all.
Not sure if you have ever been to anything I have done here. If you use the list actually use it. Please let me know personally. We will REFUND YOU 100%.
2. If you stay for the evening workshops it extra. or $ 159.
3. As far as 2-5-7. With one property you can never pay it off. you have to have 5 properties.
You take the cash flow from 5 direct it to one. Pay that off then attack property number 2 and so forth.
Goal being all are paid off in about 7 years.
George: Here is my challange. Go to the 3 day. Don't pay a dime I will comp you.
At the end of the 3 day. Please write an honest either a critique or a correction to your critique.
At the end of the 3 day if you do not get 100 more value yes I said X100 time please do not pay a dime.
If you did then please give a check to Chicago REIA for $ 159. I think that is fair deal.
I take comments made by folk very seriously because it is very easy to make to make comments.
We provide all the address for every property we talk about and I have the track record to prove it. Including people who follow exactly what I do.
Real estate investing is my life's work. I have worked my way up from the very bottom. I challange anyone that can show as much proof as I can as to what I believe in and not only just my own list of properties but also of people who follow what I suggest.
I think that is fair? A free ticket to the 3 day and then an honest critique or constructive feedback if I did a good job with sharing info. I think that is very fair.
You don't have to agree with my way of investing but in the Chicago area you are not going to find as much success as I have created.
- Real Estate Investor · Chicago, IL · Member since 2017 · 8 posts · 3 votes9yThank you for your response I just think me like many people just feel skeptical because they are so many people trying to up sell us on some "guru" type programs for a lot of money. I think people just needs programs that work and even if I have to pay a monthly fee for the info and some guidance that's not a problem either. I really have already learned something's from your program and bigger pockets so I do have a good expectation of your program. I think as for newer investors people just need direction not just things handed to you I always work hard so hopefully I can put to use your stuff and make some money. Thanks again for not taking it personal and keeping it fair.
- Chicago, IL · Member since 2017 · 61 posts · 15 votes8y
He will be one of the Midwestern Real Estate Networking Summit speakers hosted by Brie Schmidt (BP Podcast 078 and 132) on May 11-12, 2018.
- Investor · Berwyn, IL · Member since 2015 · 64 posts · 8 votes8y
So no updates people??
- Rental Property Investor · Chicago, IL · Member since 2017 · 33 posts · 33 votes8y
Well from my understand after attending one of these 3 day events this is my opinion. This is my opinion only, typical sales pitch period. They get you in there talk about how easy it is to do everything with their help but it will cost you to join chicagoreia.org I heard they had 3 platforms. I'll break it down for you, if you have no experience I would recommend bigger pockets from the start go through all the podcasts that's a education right there. The pro webinars are awesome with all the info you need to make it big. (sorry don't mean to sound like a suck up on BP but the truth is the truth)
They are full on predators at this meetup meetings this is how it goes.
They have like 5-10 on there team they all speak and tell you how great it is and how you can make it big testimonials from everyone and their mother. They have crafted a good program because of the money involved well thought out period. Most of his information restructured he acquired from other people.
The reality is that almost less than 1 or 2 people actually use any of his programs to make money. Out of every class he signs up about 20 people when I was there and these were the costs:
* $10k for the basic program they promise to help with basically 1 property they give you, if they don't want it you get it, because its not a big enough profit for them so you get scraps.
* 25K middle program they give you a couple of properties minor hand holding through their pipeline to keep you happy (maybe if you dont get burned and loose money on the deal) before they disappear
* 35K for mastery this is the big upsell they let you in the inner circle like church of scientology your paying to be their friend and they have to funnel you deals that the top guys don't want first so they feed you some deals to keep you happy and hold your hand. If you watch you can see all his people whispering secrets on who to go after the weak ones.
They promise all the resources you need.
My guess is for every 3 day event he does which is 2 times a year and all the people they sign up outside of that he profits nicely I would guess somewhere around 75+ people or more a year averaging 20K a person makes it a whopping $1.5 million dollars or more a year plus all the inside deals with banks, realtors,syndications and anything they can stick there hand in to get paid. (that's the best real estate deal I have seen just taking peoples money for doing some classes for 2 weeks LOL. No investing no nothing just BS people to believe you.
This is why I feel bad for these people, they push all the people who have no money literally 0 dollars to charge everything on credit cards clear out their savings or cash their 401k plans to pay for this. I find this totally and without a doubt completely unethical and despicable. Also, I find it unethical they keep all the good deals and pass garbage down to their disciples. Most people don't say anything because they are embarrassed they were taken and done want anyone to know they got suckered. I did talk to a few returning people and did say that they did do something with the information they got so that was good. I believe the success rate of this program is less than 20% or so. They have secret side deals with the lenders, realtors that pitch and preferential treatment for property.
If you want to learn just become a PRO on here I was resistant at first too but I gave in and after I saw all the webinars and info I knew I was in the right place. If you want to join any GURU groups period, become a pro first here get all the info on here and then see if you think spending 20K on guru classes are worth it probably not after being on here.
- Member since 2018 · 20 posts · 18 votes7y
I signed up and loved it! Andrew does a good job keeping it fun and educational.
It's like paying for a college class: the instructor will teach the whole class, but learning is up to you. It's YOUR business, and so is your responsibility. The instructor makes money off your tuition, and so is the school. Be happy for them!
Most people aren't do-ers, but if you ARE, go ahead sign up and meet me there. In Andrew's Mastery I made best friends for life! Great people, living-breathing-guiding-you people who aren't bullsh#tters.
I wouldn't recommend remote guru programs, but imho Andrew's local one is a must.
No one paid me to promote Andrew, of course Lol. I never been one of those people at the 3-day to talk anyone into it. I just genuinely appreciate him and his staff because I wouldn't be where I am today without them.
- Real Estate Broker · Mokena, IL · Member since 2019 · 1 post · 4 votes6y
Andrew Holmes is awesome! I went to the 3-day conference and I signed up for Mastery. Best decision I ever made in my life! It's been over a year since joining his group and we are doing great. I am 100% confident that I will achieve financial freedom. Andrew gives alot of information to investors at ChicagoREIA - if you are interested you should come to a meeting and see what he's all about for yourself.
- Member since 2018 · 20 posts · 18 votes4y
Quote from @Anastasia M.:
I signed up and loved it! Andrew does a good job keeping it fun and educational.
It's like paying for a college class: the instructor will teach the whole class, but learning is up to you. It's YOUR business, and so is your responsibility. The instructor makes money off your tuition, and so is the school. Be happy for them!
Most people aren't do-ers, but if you ARE, go ahead sign up and meet me there. In Andrew's Mastery I made best friends for life! Great people, living-breathing-guiding-you people who aren't bullsh#tters.
I wouldn't recommend remote guru programs, but imho Andrew's local one is a must.
No one paid me to promote Andrew, of course Lol. I never been one of those people at the 3-day to talk anyone into it. I just genuinely appreciate him and his staff because I wouldn't be where I am today without them.
I am taking all of what I said before back. What I wrote before was out of excitement and belief that what I saw in that program was for real. It was not. First, Andrew Holmes decided to remove me from the program because I followed my real estate lawyer's advice, and "disobeyed" Andrew's legal advice: I didn't file a foreclosure on my paying borrower. Secondly, the more time passed by, and the more I've seen, the more HORROR I observed the program caused to simple people. Andrew took my $18k and promised 2 deals: he gave me one that he also gave to someone else before I closed on it...At this time, I cannot stay quiet anymore. I encourage others to speak up too - speak only truth, and only facts.
- Member since 2023 · 7 posts · 2 votes3y
I haven't gone to any of the event yet. But I went to another real estate event. A lady I met at that event told me after she joined Andrew's group(I guess she meant the mastery), she earned money right away. I asked how, she said she cashed out all her 401k and index fund, and did private lending. It is the lady's personal choice. But for me, it is a big big red flag. The lady probably in her late 50's, and the stock market just out of two years bearish. Someone persuade her to cash out all 401K account and put into private lending? I am not sure about this approach.
- Contractor · Chicago, IL · Member since 2016 · 4k+ posts · 2k+ votes3y
Hey @Jim Vani - I personally know @Andrew Holmes and he's genuinely a good guy.
Is it true that he has built a large community through Chicago REIA and his students (at least in mastery) have paid for his coaching and experience, yes that is a fact.
Most people go to the 3-day event and then do nothing with it....the people who join Mastery get the very intimate teaching and assistance they need to get going and do deals...some people need that and some people don't.
Regardless, going to network and meet other Chicago investors is a positive no matter what.
Quality Builders4.966 Reviews - Lender · Chicago, IL · Member since 2020 · 15 posts · 9 votes3y
Hey @Jonathan Klemm
Thanks for sharing your insights on @Andrew Holmes and the value he provides through Chicago REIA. It's always encouraging to hear positive feedback from someone who personally knows the individual in question.
Your point about the 3-day event vs. Mastery is well taken. Everyone has a different learning style and pace, and it's good to know that Andrew offers multiple avenues for engagement. Mastery seems like an invaluable resource for those looking to dive deep and benefit from personalized guidance.
I couldn't agree more about the importance of networking. The opportunity to connect with other Chicago-based investors is valuable in itself. The knowledge and experiences shared within a like-minded community can often prove just as enriching as formal coaching.
Are you going to BPCon2023 by chance?
Best regards, Jim Vani
- Contractor · Chicago, IL · Member since 2016 · 4k+ posts · 2k+ votes3y
Hey @Jim Vani - No problem...I think oftentimes people who create courses or provide mentorship-type programs like @Andrew Holmes get a bad rap, but often the people who are criticizing them are the people who aren't taking action or are not happy with their results.
I am actually not going to BPCon2023 because I have another event in Atlanta during the same week...I think next year I'll be there for sure.
Regardless, of BPcon, I'd be happy to connect...we are both in Chicago and contractors...I always looking to learn from others who have been doing the industry.
Quality Builders4.966 Reviews - Lender · Chicago, IL · Member since 2020 · 15 posts · 9 votes3y
Hi @Jonathan Klemm Thanks for sharing your perspective on mentorship. I'm with you on that. Too bad we wont cross paths at BPCon2023 but hope your Atlanta trip goes fantastic. While my primary focus has shifted to the lending side, I'm still involved in construction, specifically TI work and for real estate clients/partnerships. Given that we're both in Chicago and have overlapping interests, it would be great to connect. I'm impressed by what I've seen from Quality Builders. I'll send you an inbox message soon to discuss a potential meetup. Looking forward to it!
- Contractor · Chicago, IL · Member since 2016 · 4k+ posts · 2k+ votes3y
Appreciate the reply @Jim Vani, what is TI work? Look forward to connecting locally in Chicago for some coffee...Always looking to learn from other experts like yourself!
Quality Builders4.966 Reviews - Lender · Chicago, IL · Member since 2020 · 15 posts · 9 votes2y
Hey @Jonathan Klemm,
Thanks for your interest! TI stands for Tenant Improvement. It involves customizing commercial rental spaces to suit the specific needs and requirements of a tenant. This can range from minor modifications to more extensive build-outs, depending on the nature of the tenant's business and the agreement with the landlord. In spaces like offices, retail establishments, or other commercial areas, TI work ensures that the space is tailored to the business's operational needs.
I'm looking forward to a meet-up in Chicago as well. It's always enriching to exchange knowledge and insights with fellow professionals in the field.
Best, Jim Vani
- Real Estate Broker · 3412 S. Harlem Avenue Riverside, IL 60546 · Member since 2015 · 6k+ posts · 5k+ votes2y
@David Segatti he has been active here for quite a while. I have met some investors who have found value from his content. At the same time, 35k is a nice chunk of cash.... maybe just go do a deal? The information about basic real estate investing has been democratized for quite a while, and I can't imagine there are any deep dark secrets being shared there that will get you rich quickly.
- Member since 2022 · 1 post · 1 vote2y
Quote from @David Segatti:
What do you know about Andrew Holmes-Chicago REIA? I heard that to join the inner group you pay $10K-35K depending on what level you want? Welcome all feedback.
I have a friend that has joined the silver version and she is happy.
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