Mentorship program for $40k

[Sung H Kim]

Hi im a noob. But starting and learning terminology now. Really excited. This seminar I attend offering mentorship program for 40k for 2 years. Is this good deal??

[Tim Ryan]

I'm for paying when you want to learn. College is not free either right (not yet).  But $40k is way, way too high a price. Now, I've paid more than $40k over the years but not with one mentoring company. Btw, my education got me to owning 330 rental units with many flips/developments. So again, I believe in paying for the education. Otherwise you'll get what you pay for... DM if you'd like to hear more of my story and what I did.

[John Mason]

Hope this helps https://www.ftc.gov/sites/default/files/documents/one-stops/...

[Stuart Udis]

@Account Closed so somebody has to sit at a computer and provide links to each item you cover in your mentorship? No thanks but it’s all available thanks to websites like BiggerPockets. My take away is the fact you’re adamant your services are worth $15K…I’m clearly not charging clients nearly enough:)

[Jerryll Noorden]

Quote from @Don Konipol:

1. They are constantly answering questions and partaking in forums on BP.  Most BS gurus either don't participate at all our only show up when their program is called into question

 This right here!

[Jerryll Noorden]

All, don't be so one-dimensional.

Let me give all you nay-sayers a different perspective.

How can any of you slam a $40K program when you know nothing about it?  A bit hypocritical I think.  Why you ask?

Well, you buy a $200K house as an INVESTMENT> The money you put in, you make back 10X, right?

You can't slam a mentorship just based on their price. Yes a lot of these gurus are full of crap. But don't blame "mentorships" .. blame YOURSELF for not doing a bit of research and believing all the BS these gurus tell you . Who told you to turn off your brain?!

Consider this.

Someone also paid me for a mentorship. Within 4 months...

There would be no way in HELL they would have gotten this far so fast on their own or through YouTube.

I am not defending mentorships just because I offer one. I am defending mentorships because they CAN work if you get the right one.

Yes $40K is a steep price for sure, especially because NO mentorship can guarantee results.

But I go all out for my students, and I  have a HUGE overhead because I go all out for my students.

It is like saying I am not going to buy that house because it is $700K

But you didn't consider what the COR is or the ARV. (how much money you get back out). Imagine the ARV being $15M and the Cost of repairs, $200K. You'd pass up on that deal just because you think $700K is too much for a house. "you can buy 3 houses with $700K". Stupid way of thinking yes?

I am not defending a $40K mentorship. I am only disagreeing with slamming a/any mentorship solely based on its price.

Hell, I went to university (which is a mentorship) for 15 years. Ended up all the way at NASA. I wouldn't have gone this far, done what I have done, and Accomplished what I have accomplished if it wasn't for the mentorship/university.

I have made paraplegic people walk again.

The research I did, and the things I/we have invented have made an eternal impact on humanity. I left my mark. I made a difference. Because of a mentorship.

Don't slam a mentorship based on the price. It is a skill you are learning. It is up to you how far you take yourself using that skill.

Now stop fighting and hold hands everyone. I'll bring a guitar and we all sing Kumbaya gadamnit.

[James Wise]

Quote from @Jerryll Noorden:

All, don't be so one-dimensional.

Let me give all you nay-sayers a different perspective.

How can any of you slam a $40K program when you know nothing about it?  A bit hypocritical I think.  Why you ask?

Well, you buy a $200K house as an INVESTMENT> The money you put in, you make back 10X, right?

You can't slam a mentorship just based on their price. Yes a lot of these gurus are full of crap. But don't blame "mentorships" .. blame YOURSELF for not doing a bit of research and believing all the BS these gurus tell you . Who told you to turn off your brain?!

Consider this.

Someone also paid me for a mentorship. Within 4 months...

There would be no way in HELL they would have gotten this far so fast on their own or through YouTube.

I am not defending mentorships just because I offer one. I am defending mentorships because they CAN work if you get the right one.

Yes $40K is a steep price for sure, especially because NO mentorship can guarantee results.

But I go all out for my students, and I  have a HUGE overhead because I go all out for my students.

It is like saying I am not going to buy that house because it is $700K

But you didn't consider what the COR is or the ARV. (how much money you get back out). Imagine the ARV being $15M and the Cost of repairs, $200K. You'd pass up on that deal just because you think $700K is too much for a house. "you can buy 3 houses with $700K". Stupid way of thinking yes?

I am not defending a $40K mentorship. I am only disagreeing with slamming a/any mentorship solely based on its price.

Hell, I went to university (which is a mentorship) for 15 years. Ended up all the way at NASA. I wouldn't have gone this far, done what I have done, and Accomplished what I have accomplished if it wasn't for the mentorship/university.

I have made paraplegic people walk again.

The research I did, and the things I/we have invented have made an eternal impact on humanity. I left my mark. I made a difference. Because of a mentorship.

Don't slam a mentorship based on the price. It is a skill you are learning. It is up to you how far you take yourself using that skill.

Now stop fighting and hold hands everyone. I'll bring a guitar and we all sing Kumbaya gadamnit.

[Jerryll Noorden]

Quote from @James Wise:

Quote from @Jerryll Noorden:

All, don't be so one-dimensional.

 Dude, I always love your responses

:D

[James Wise]

Quote from @Jerryll Noorden:

Quote from @James Wise:

Quote from @Jerryll Noorden:

All, don't be so one-dimensional.

 Dude, I always love your responses

:D

[Jeremiah Phipps]

@Stuart Udis Your actions epitomize the very issue I'm highlighting. I generously offer valuable insights for free, only to be met with your shameless promotion of paid programs and expert guidance. It's a slap in the face to those seeking knowledge, suggesting that they must shell out their hard-earned money to access what should be freely available. Thank you for exemplifying the greed-driven mentality that pervades our society, where profiting off the thirst for knowledge takes precedence over genuine goodwill.

[Scott Trench]

This thread has a good discussion.

The pattern typically is:

- Throwaway account that suspiciously seems like it’s actually the guru charging $10-$40K for course, mastermind, tribe, mentorship, seminar, coaching, etc. asks about specific guru with weirdly specific SEO minded title of post.

- Community immediately chimes in to steer poster away from spending this much on guru nonsense when info is available freely on BP.

- Throwaway account gets annoyed at great advice offered by community.

- New accounts (1 or sometimes lots) flood the comment leaving weirdly similar reviews - not just for each individual guru, but like the same type of review for EVERY guru. The accounts seem to materialize out of nowhere and with no purpose other than to express undying love for the life changing advice offered by said guru, often accompanying eerily similar language across hundreds of different gurus. “Abundance mindset” “go-giver” (classic from bob burg books) etc. language is so similar across the “reviews” from these new accounts that it is hard to believe for many reading the threads that the reviews are individuals who have not been coached, invented, or required to leave reviews.

- BP community rolls eyes at obvious spam and calls this out. To the annoyance of guru shills.

- OP, often also a shill for guru, or in some cases a legitimate but misguided newbie who was already sold on the program and came here for validation and encouragement to spend $10s of thousands on guru program gets ANGRY at BP community for pointing out obviously correct advice to not spend $40K (good fricken grief!!) on guru nonsense.

This has happened easily 1,000 times on this forum over the years. Always a new guru (newru). Never new tactics.

[Melanie P.]

@Jerryll Noorden To be clear you're providing more than coaching, right? You're doing the client's SEO -- i.e. they're getting all their leads from you or more leads because of the enhancements you put into their website/search rankings?

[Scott Mac]

Let's talk money-Price.

Let's rope that pony out of the herd And set a brand on him all by himself, exclusive of the other issues.

Anyone in here/ everyone in here/ who buys a house for whatever price and decides to sell that house, is going to try to get as much Money is possible for that house.

That's one of the ways all of us make profits in here.

People are going to set their price at what the market will bear. If someone can get a $100,000 for 6 months of personalized training they're going to do that. If someone can get $10 for 10 minutes of personalized training they're going to do that. 

If they misprice their services they won't get very many takers. 

If they don't deliver what they promise word gets out- but that's another issue than the price. I'm only discussing price here.

I don't mentor anyone for any price, but if I did the price would be a lot more than what mentors charge typically. That would be probably similar for very many people in here.

There are people in here that can put you over the top in your business Based on what they know. But they don't charge for it- so it's a good forum to browse for answers.

As far as mentoring, I can see where some people will benefit from it. I think it is more beneficial to those who have some money to work the plan versus no down payments or tiny down payments based on luck of finding certain types of deals. Needle in a haystack deals are out there but they are needles in a hay stack- although that might get somebody started???

Give a man a fish he eats for a day - teach a man to fish he eats for the rest of his life .

Just my 2 cents.

[Jerryll Noorden]

Quote from @Melanie P.:

@Jerryll Noorden To be clear you're providing more than coaching, right? You're doing the client's SEO -- i.e. they're getting all their leads from you or more leads because of the enhancements you put into their website/search rankings?

A wise man once asked...

Do you rather me give you a fish or teach you how to fish?

[Jeremiah Phipps]

Quote from @Tim Ryan:

I'm for paying when you want to learn. College is not free either right (not yet).  But $40k is way, way too high a price. Now, I've paid more than $40k over the years but not with one mentoring company. Btw, my education got me to owning 330 rental units with many flips/developments. So again, I believe in paying for the education. Otherwise you'll get what you pay for... DM if you'd like to hear more of my story and what I did.

 Unless you're going to college, to be a doctor, lawyer, or accountant college is pointless.... You spend hundreds of thousands of dollars for an education you'll probably never use..... I used to work at bear and half the guys on the assembly line. We're engineers who could not find a job.

[Jeremiah Phipps]

Quote from @Jerryll Noorden:

Quote from @Melanie P.:

@Jerryll Noorden To be clear you're providing more than coaching, right? You're doing the client's SEO -- i.e. they're getting all their leads from you or more leads because of the enhancements you put into their website/search rankings?

A wise man once asked...

Do you rather me give you a fish or teach you how to fish?

I'm offering you the fish for free. I'm willing to teach you how to fish for free. In other words, the information I'm providing is entirely free. I can guide you step-by-step through finding properties, getting them under contract, securing financing, hiring a contractor, and getting them back on the market, or even employing the BRRR strategy (Buy, Rehab, Refinance, Rent) without charging you a dime for this invaluable knowledge.

[Stuart Udis]

@Account Closed Not sure where the misquoting accusations are coming from. You've repeatedly asked for this of me in this forum, no? Please provide the links you attest exist that allow people to learn investing and creative financing, legally and safely for free? It seems this is the only way you are willing to accept the materials covered in your training can be found online.

Why focus on the cost when issues arise rather than ensuring the transaction is completed correctly from the start? Wouldn't that be the apples to apples comparison to your services?  I would imagine there are plenty of attorneys willing to review  and prepare like kind transactional documents and provide attorney review for significantly less than $15,000.00 ensuring transaction is completed correctly. Have I personally advised clients on alternative financing transactions? No. But for illustration purposes since this is a fresh transactional matter on my plate: The reimbursable lender legal fees for an $8.5M loan transaction I was recently apart of (as a buyer, not fees I charged) were less than $15,000.00. This particular transaction not only included preparation of loan docs but also  review of subdivisions, deeds, permits, environmental reports, easements etc. I believe most would agree this is a more complexed transaction than the transactions you are counseling your clients on for $15,000.00.

At the end of the day, everyone has a right to their own opinion and the beauty of a free market economy is that everyone can set their own price for their services.  However, most push back I receive on these forums are from people offering some form of mentorship, training or courses because myself and others point out there are more cost effective ways to obtain the same information and all of a sudden they come out of the woodwork in defense mode. 

 @Jeremiah Phipps I am not really sure I understand your point. I don't operate a pro bono legal clinic. I offer plenty of free advice through these forums. Am I supposed to offer free legal services to everyone who sends me a direct message on BP? Do you believe the real estate agents who promote themselves and certain markets through the  BP forums list properties for free when they are contacted? Do accountants and financial advisors who post in these forums render their services for free?  Do lenders extend loans at zero percent interest? I believe in some way,  shape  or form all service providers who post on these forums do so to generate business. 

Furthermore, the overwhelming majority of BP members who contact me directly do so with an issue that has to be resolved rather than proactively looking to set up their business correctly/ vet opportunities or investment strategies. Do you know one thing most have in common? They are overextended and never had the financial means to get into investing in the first place but they got  lured in by misconception real estate investing is easy and anybody can get into the business with little or no money. Who are the people consistently selling this message? Those offering courses and mentorship. Why is this? Because most of their customer base are no longer interested if the messaging is different and they are told real estate is a capital intensive business. 

@Jeremiah Phipps Perhaps next time an overextended novice investor who is in a pickle reaches out I will refer them to you to offer them a 100% LTC loan at zero percent interest. Wouldn't that be the rendered services equivalent?

[Jerryll Noorden]

Quote from @Jeremiah Phipps:

Quote from @Jerryll Noorden:

Quote from @Melanie P.:

@Jerryll Noorden To be clear you're providing more than coaching, right? You're doing the client's SEO -- i.e. they're getting all their leads from you or more leads because of the enhancements you put into their website/search rankings?

A wise man once asked...

Do you rather me give you a fish or teach you how to fish?

I'm offering you the fish for free. I'm willing to teach you how to fish for free. In other words, the information I'm providing is entirely free. I can guide you step-by-step through finding properties, getting them under contract, securing financing, hiring a contractor, and getting them back on the market, or even employing the BRRR strategy (Buy, Rehab, Refinance, Rent) without charging you a dime for this invaluable knowledge.

 Sigh...  again, please think about what you are saying.

You are NOT providing "Information". you are providing an OPINION. There is a big difference

Everyone seems to erroneously use the word "information". 

in·for·ma·tion/ˌinfərˈmāSH(ə)n/

noun

1. Facts provided or learned about something or someone.

You are certainly not providing facts!

But for the sake of this post, let me still use the word "information" to make it easier for you to understand.

Free information doesn't mean CORRECT information.

How many of you use "free information" on YouTube? Now how many of you who use free information are reliably and consistently successful?

If you are going to talk to me, a scientist... please try hard to come up with data. Opinions are completely useless to a person like me

That said,  I will give you a simple equation.

Step 1:

Find the number of youtube users that are real estate investors looking to "make it". Write it down and call it "X"

Step 2:

Find the number of people that are CONSISTENTLY making deals due to said free information on Youtube. Call this number "Y".

Now, the effectiveness of free information   (EOFI) = Y/X * 100%.

Example.

If 17M investors turn to YouTube for help, and only 500,000 get consistent deals (why "consistent"? Well because you can't count sheer dumb luck single deals as "free information helped me". ) then the effectiveness of "free information on YouTube is:

(500,000/17,000,000)*100 = 3%

Now let me give you some perspective.

In the world of mechanical engineering.. let's say electric AC motors, efficiency numbers are around 95%. And this is a mechanical system. Physical products are difficult to make efficient!

Seriously dude, Go to YouTube and search for how to find motivated sellers.

EVERY video you find IS COMPLETE BS. Every single one. I know a thing or 2 about lead generation. It is embarrassing how these people teach complete horse crap and people like you EAT-It-UP!

There is a reason we are an 8-figure REI business within 4 years while most of you aren't.

How many of you are getting this:

from free YouTube information? 

All organic, all off-market, all free, all people that fight each other to get to me, without me lifting a finger every single day.

Again, how many of you want success, don't have it (yet), and resort to free info to get it?

If you think you are correct, dude, I truly don't care. I am not writing this to convince you. I am writing this to give everyone else the facts. You can feel free to keep on going to YouTube, and you absolutely should of course. I am not saying YouTube is useless.

YouTube is amazing for "information" (mostly entertainment, often for simple how-to videos) as long as you understand the difference between information (opinion) and DATA (facts).

Everyone on YouTube has "information". Only a few offer actual facts.

Best of luck to you. Hope this expands your mindset a bit.

[Bob Stevens]

Quote from @Engelo Rumora:

Quote from @Bob Stevens:

Quote from @Sung H Kim:

Hi im a noob. But starting and learning terminology now. Really excited. This seminar I attend offering mentorship program for 40k for 2 years. Is this good deal??

 INSANE WASTE OF MONEY!!! NO , !!! RE is just math! THATS IT. Just connect with those doing deals and go to the local RE forums. Find a deal, flip the contract, earn a fee. Save learn and go on your own, YES that simple, easy NO, but simple. Here is one of my posts on how I got started. Since I have done it all. Heck with 40k you can buy a SF with seller financing and learn, much better to actually DO and learn vs reading books or listening to some guru 

Hey all, I see so many posts, " I am researching, " I am doing my homework" , I am trying to build my team" "Deciding on which area" So many are TRYING but never do anything, like a hamster on a wheel, A LOT of movement but staying in the same place. What is holding you back? Who needs help, or just some advice.

I started out not know a darn thing. Literally got into RE while at a family BBQ about 15 years ago. My Cuz pulled up in a new SL 500. I said, Joe, I thought you were an extra tech. Well, he was, but he took action and got into RE. So that was my ah ha moment. Within my 1st month I flipped a contract for 19k, yes 19k my 1st month. At that moment I realized there is money in this. All I did was look at a property, run the comps, and got a reno budget, So nothing to intense. My next deal while I was just about to sign the contract on a house in Glenn Cove LI. a truck pulls up. The realtor says, may I help you? Nope says the driver with a lock and chain in is hand. I am here to lock it up, its going into foreclosure. I grabbed the contract and offered 100k less, and got it, Talk about timing. At that point I knew the universe was telling me, RE is my calling. Well, 500 deals later, (about 15 in LI the rest in Cleveland ) there is nothing I have not done. Purchased various sheriff auctions, short sale, and just low balling.

If you are stuck, not knowing where to turn, please feel free to reach out,

All the best

BTW you want to learn " terminology  

ASK, Purchase price

ARV, After Repair Value

Contingencies, what you want to do/happen before you close, its you're out if need be

SOW, Scope of work, details of your repairs

Cap Rate, your % of income, either NET cap, or gross. Gross rent less all expenses. is NET.  ALL you care about is NET, cant pay your bills with gross :) 

DP, down payment

EM earnest money

Ok now pay me 10k LOL, 

We need to "go guru" mate

Crazy how much cheese some folks are making... lol

 Funny, but the worst part, 99% of those that read books, take these classes NEVER do a deal, 

ALL THE BEST BRO 

[Remington Lyman]

Quote from @Sung H Kim:

Hi im a noob. But starting and learning terminology now. Really excited. This seminar I attend offering mentorship program for 40k for 2 years. Is this good deal??

 I have never paid for a mentorship. Instead I cold called for off market deals in Ohio and gave them to people to partner with. They became my mentors in exchange for good deals

[Don Konipol]

The “attack” on the sub to guys seems to be that they are providing only information that can be sourced for free and charging $15,000 for that.  What I see (from their website and from reading and interacting with them on BP) is the following

1. They “teach” ONE ON ONE (please correct me if I’m wrong) creative financing with a concentration on sub to transactions

2. They guarantee that the buyer of their program will buy a specific volume of property at specific minimum terms during the next 12 months

3. I assume their mentorship includes advice on what information “out there” is correct, what is incorrect, what is relevant, what is irrelevant, etc.

4. In the very sensitive area of legality, legal compliance, and ethics, they have a definitive methodology which keeps the investor on the correct side of this equation

5. According to their website, they have significant experience and a track record of successful transactions.  So I assume that they are able to offer the advice particular to a PARTICULAR and SPECIFIC transaction which could prove the difference between success and failure for the investor.

Now, I have no way of knowing IF the above is true….but again my GUT FEEL tells be it most likely is.  So the question is “is this worth $15,000”.  To be that’s a question each individual investor/potential investor must answer for himself.  This IS NOT a case anything like the BS programs we call out for $40k or more that are obvious marketing programs put together by real estate marketing companies and fronted by paid actors and failed investors.  I know something about “creative financing” as I have successfully navigated this method of property transaction for 45 years.  And everything I’ve read in posts from the Sub To Guys is thought out, ethical, and defensible as solid real estate advice.  So again, IN MY OPINION the SUB TO GUYS should be regarded totally different and not thrown into the category we dismiss as Guru BS.  

[Melanie P.]

There is a huge difference in the commitment level of someone who pays for SEO/mentoring and someone watching a Youtube video. The fact that paid information has a higher success rate than free information does not form a basis to say that paid information is better or more effective than free information. A user getting their information from BiggerPockets and other online sources can reach the same level of commitment simply by taking the money  they intend to pay the guru and investing it in their real estate enterprise over 12 months. Taking time to write out a plan, instead of being handed one; self discipline as opposed to having a set of tasks done before my next check in with the "teacher." are probably equally effective if you take two people with the same level of motivation each prepared to invest the same dollar resources in their venture. 

Some people, of course, do need that follow up from an authority figure, need Daddy to tell them when to make a move. You got a lead son? Make an offer! For those folks Jerrell's program seems to be one of the better ones out there. Not to say that what they're doing is revelatory. Getting listed in Google Local/Google my Business and responding to leads as they're received are basic steps that the majority of wholesalers never take. The accidental genius was instituting sufficient controls to make sure his students are doing the work they're supposed to and not coasting their way to failure.

If it gets you started and improves your life, it's a worthwhile investment, for you. Perhaps someday he will offer a plan to do the website, deal with Google's ridiculous processes and never talk to you or tell you what to do one time. There's a need for that too.

[Jack Deer]

If what you say is true, Please provide us with the links to this information.

Search Bar!

[Melanie P.]

@Don Konipol I believe there is only a SubTo guy; singular. The other guy "Mike" is the same person, different account. Ask for a conference call with both of them and see how that goes.

[Costin I.]

@Sung H Kim - the general answer to this kind of question is NO. In today's age of information, you can find actionable intel online for free (or cheap, like on a $50-200/month budget) more than you can digest and act on it.

The only time a guruship might make sense is if you meet these conditions:

1. If you have a lot of time and are eager to get to work heavily.

2. If you have a ton of money burning a hole in your pocket and don't know how to put it to work for you.

3. From a source with good reviews and long history of doing it (rare occurrence). The expected return should be 10x, supported by "returning" students' testimony.

IMO, the higher it goes over 2K, the less likely (exponentially I would say) it's to provide you with knowledge/benefits. But for sure the sales speech is going to be better and mesmerizing playing on your emotions.

[Sung H Kim]

Quote from @Sung H Kim:

Quote from @Sung H Kim:

Hi im a noob. But starting and learning terminology now. Really excited. This seminar I attend offering mentorship program for 40k for 2 years. Is this good deal?

 Thank you all for your time to give me advise! I wont pay for mentorship haha! I really wanted to learn about real estate and I saw Instagram page ad and signed up here. Like I said, im a noob learning terminology and just learned Cap rate and debt ratio yesterday 😂😂 wish me luck!! Love this BP community cheers!

Wow! I looked away for 1 day and didn't know I got this many replies.
thank you all! Love this BP community already. I know I got lot to learn. I will stay humble and will absorb much as i can!

I feel like I owe you all what was the mentoring about and what was the deal and what went down at seminar. This is my gift to BP community. I will write down my experience detail as possible even with the numbers and leave comment and my opinion next to it. 

*comment, (My Opinion)

It was Dave Lindahl program. I saw the Instagram and Facebook ads and got intrigued. First it offered 2 hour free in-person seminar. Google review looked good so I signed up and went to the meeting.

At the meeting, they upsell 3-day boot camp program. They did their pitch 2 hours showing that how Dave Lindahl made fortune and how we can do it too. It was Multi-family unit real estate boot camp. They were looking for 100+ units and showed how it is the money and how to get paid but no details. 3-day boot camp was $1,000 and I signed up. Like I said, I am very noob and I wanted/needed to someone to mentor me. when they said they will do it in-person, that's part that sold me. 

*Boot camp venue and my house is about 3 hr distance. I had to book a hotel at same place they holding:

Total expense: $1000 + $500 + Food/Toll/Gas = about $1,800ish

Schedule : 8:30am to 5pm. Fri-Sun. $1,000. No lunch provided ☹ (I didn’t like that lol)

Day 1:

Gathered at 8:30am and watched few promotional videos (how everyone got involved and got rich) and gave us the booklets. There were about 70-80 people in the room. About they are going cover the case study books. After that we started learning about the Cap rate and NOI how to calculate those. Moved on to CoCs, Acquisition Cost, Debt ratio etc.. all are new terminology for me, so I was happy that I was learning those that this point. Nobody really sit me down and taught me those so. We did the few case studies together and try to calculate Cap rate and find out NOIs and stuff.* after that, they taught us how to raise capital for the project. There were ‘mentors' that helping around the event. They called each one of us out and did some counseling. Such as what drive me to do this, what is the my dream and goal etc..**

I remember they were strongly saying that I have to be good underwriter. (Is this true?)

*I have a banker friend who is credit analyst, we go back and forth texting while this was going on. He told me this is real basic stuff LMAO. He thought I was crazy to pay $1,000 from the beginning.

**I been to some pyramid scheme events in the past they always asked something similar so I didn’t like that.

Day 2:

Everyone gathered again and watched promotional video for few mins and start getting back to where we left off. We were looking deeper into the numbers and underwriting. Learning new terminology such as ‘repositioning’, ‘concession’, ‘service contract’, etc… and ways to find properties and checklists.

Before lunch, they dropped $40k ‘Diamond mentorship program’. That’s what stunned me and started looking online. That’s when I found this BP community and left the comment.

From the beginning, I don’t have 40k to drop. But I wanted to know if this is the right price from the industry. They are saying you are going to get 40k back way more than you invested and joining the RE mentor family network. Their selling point was they have network all over the US and have latest information on everything. Rent price, labor price, insurance price etc…

I finished 2nd day and reading the comment I left on BP community and everyone says no. At this point I just wanted to pack up my stuff and go home. But I decided to stay and take all the courses. Because I am still noob and there was actual stuff I can learn. (even if it is smallest and most basic thing)

They passed around application to join their diamond program. I checked box ‘I don’t have any resource at this moment’ and after that, they didn’t really bother me. They just left me alone.

Reminder that there was realtor, house wholesaler, small unit owner (4 unit), doctors, real estate agents were in the room. People who actually owns property at this time.

Day 3:

I just wanted to go home at this point. I didn’t want to attend because of annoyance that they will try to upsell hard. I decided to showed up and learn the last day. I realized that about 10 people are gone. 3rd day we went over the Due diligence and few more case study. At some point, they offered deep dive of underwriting for $3,000  3-day boot camp event. I didn't sign up.

There were 7 people joined Diamond program before the days over. I think few more joined after boot camp is over.

I asked one of the guys who joined.

Earlier at boot camp, they showed everyone some sort of the map that shows path of progression. It is colored town by town, show demographic and income of the neighbor. It shows every town in US. So it makes easier to target next town to find deals. They claimed it is RE mentor proprietary software and database. It is updated regularly (every 6 month I think?) getting into access of the map is extra $4000 top of $40k. Totaling $44k. with 44k, you are joining their network and they said they will even sponsor the deal up to $1 Mil if we find a good one. Some guys think that map access has the worth the value and some sees the value in joining the network.

*Some looked like they can afford. Some looked they are giving their bloodline money. I don’t know.

I saw somebody in BP left comment like 2008 or something asking about Dave Lindhal. It was exact same how they did back then and doing it now. you don’t even get to see David Lindhal himself! If you type in David Lindhal or Dave Lyndhal you will see those comments. Some comments are gone I don’t know why. Long story short, they said the problem with diamond program is new comers can’t really find deals that qualifies their wants and time is running out with mentors.

Over the weekend I am glad I learned new real estate terms and meeting this amazing new BP community. For that, I can gladly absorb 1k I spend. I have lot of questions now I will start asking in different thread. Looking to meet new people and network here! Hope you enjoyed reading. Cheers!