RE Mentor - Multifamily bootcamp

[Vee L.]

Hi all,

I know people that went to Dave Lindahl's trainings and spoke highly of the program. I'm looking to pay $1495 for his 3 day bootcamp. However, Lindahl himself is no longer teaching these classes. Has anyone been to the new bootcamps that are taught by others. What do you think? Was it worth it? Thanks for sharing.

[Joel Owens]

It's just another income stream. When people build companies they have multiple ways to make revenue.

Early in the cycle deals are abundant so those with experience tend to buy as much as they can as fast as they can. When deals get harder to find top of the cycle then more emphasis can be put on teaching while still looking for harder to find properties and that network can be pushed out like an army of ants to find more properties.

Sometimes I get contacted by people that want to learn about commercial retail but are not at the level of my typical client. I am developing courses that they can buy.

For instance someone has a net worth of 500k but wants to buy something at 500k. I do not have the time to educate them intensely on the process for a check of maybe 15,000. I am already doing that with clients to make 100k plus per transaction. It can also work for say investors that contact me that are accredited but they do not feel comfortable putting in 800,000 down on one property so then instead they can invest with me as a sponsor at a lesser amount to start.

You have to kind of meet people where they are and offer them options. If someone has worked very hard for decades on systems and processes and a high quality network then I believe in most cases there is no issue monetizing that knowledge. I will say the multifamily market is flooded with people all doing educational stuff. It has almost gotten just as bad as flipping companies that go across the country. The educational companies tend to make money and then plow it back into hard real estate assets.

I think it is almost a pipedream for people to expect someone highly successful to spend all this time with them for a nominal return. The example I gave above making 1,500 for 50 hours time at 30 bucks an hour. WHY would I do that when I can close a transaction in that same span of time with a client that pays 80k to 100k?? I would lose money going backwards in income working on such stuff.

If people have time but limited money or are not willing to spend the money then on Bigger Pockets here if you go search and read topics there is a lot of gold in there. When I started I read on this site like crazy,read books at Barnes and Noble bookstore, went to association meetings, etc. If people instead want everything wrapped up into a nice little bow and presented to them with less work then that comes at a PREMIUM to pay as the people that created that put a ton of work into developing those systems and processes. Sometimes a local investor might take an interest in a new investor but even then their time is valuable so they might can answer the occasional question but if someone wants constant help they do not typically have time for that. Now it is rare but occasionally you can find an investor nearing retirement that wants to leave a legacy of their knowledge to someone else and help someone out. You can't be marginal though they have to usually see something really special in that investor starting out where they feel their time is well spent educating them and bringing them along.

I think newer investors type people just have a very skewed idea of how this stuff typically works.