Here's my take. I'm a current LU member (PIG) member, but I live in Atlanta. I flew out to San Antonio last year (November) to attend the two day class David Fisher gave. During the class we were told if you have under 50,000 then you need to stay with SF investments. If you had 50,000 to 100,000 to invest then you needed go multi-family. I fully intended on buying an apartment complex in central Texas, and still will at some point. I travel to that area at least once a year and love it. At the end of the two day class I signed up for the PIG membership which was 10,000. I strongly regret doing that now. The reasons are after I joined and inquired about multi-family, I was told that 100,000 wasn't enough to get into a decent size complex, and there's no way to manage a smaller one from a distance. I know that was not correct info that I received from the "mentor." I could really use that 10,000 now to put into other deals.
Then there was the Atlanta debacle. I feel for the people in Atlanta that went to the free classes and signed up for memberships based on the fact that they were told repeatedly, "We are coming to Atlanta, it's a done deal, our office will be opening in November of 2013 or December of 2013 at the latest, but we are coming for sure." Then suddenly without warning and e-mail was sent out last week stating things have changed, we're now not coming to Atlanta. Just the day before that e-mail, I sent a message to one of the "mentors" and asked what the status of the Atlanta office was, since they had stopped mentioning it on the radio show. I was told, "Del is coming in February for his class." That person knew full well at that point that the office wasn't going to open, but chose not to say anything.
I just thought the way all of that was handled was very poor and unprofessional. I still intend on working with them at some point to purchase a multi-family in Texas, because I know others who have done that very thing and they seemed to be satisfied with them, and the service they offer when it comes to buying a large multi-family project. But, they live in Texas near their properties as well. For 10,000 you don't get much. I expected a phone call at least at some point to ask what the goals were, how to get there, what help can we provide, etc. etc. But to my surprise, there hasn't been any of that. Once you pay any amount of money, that's it, it's all on you to take action, which is fine I can do that. But don't have any illusions that they're going to bend over backwards to help. An e-mail went out a few days ago from them congratulating a couple on their first multi-family purchase. I sent a response back and asked if the details would be published, or was it simply going to be a case study at a Texas office. I was told it would be a case study later in Texas. That kinda fly's in the face of saying you're a National or International group.
As I've said before, if you live in Texas and close to one of their offices, it may be a good deal at the basic level. But there's a lot of pressure to buy from their realtors, and keep everything in house. If you live outside of Texas, don't spend the money. Everything you need can be found right here on BP. The thing I like about BP versus a lot of other "guru groups" is that members here love sharing their deals and numbers from start to finish with everyone, the good the bad and the ugly. I'm determined that my 10,000 won't be wasted, so in time I will have a large MF in central Texas, it's just a matter or reassessing what I thought would happen, versus what I have to make happen.
Hope this helps.
