Chicago REIA, Andrew Holmes

[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.

[Alex Henderson]

I am apart of Andrew Holmes Mastery program and let me start off with this is a total scam. I had seen their ads for quite some time and read alot of really good reviews and all the success stories and had been to a few of the 3 day events to learn about real estate. Being in my early 20s I wanted real estate to be my foundation for my future. A few flips and some rental properties was my goal. Therefore, I ended going with the Gold plan which was about 20k, putting most of my savings towards this buy in. Gold package offered one on one mentorship and guidance and provided assistance and mentoring on the first few properties. Being new, I wanted the help of establishing my first property so I can have something as a foundation in real estate. After getting my first property, I was then told "You need to go out there and figure it out yourself" so all of the permits, insurance, etc I was left on my own to figure out. I ended up using a mastery known and suggested contractor for my rehab. He ended screwing me over big time with months of delays and going 20k over what was originally quoted. Now for the refi, needed to have really strong income and credit with plenty of funds in the account to show proof of funds, so after all that couldn't refinance either without bringing 40% of the property value to the table. The real value this group brings is private lending. Trying to find properties is another nightmare because the whole mastery is competing for them, including the big investors who take up the true deals. All in all, not worth it. Now I'm screwed with debt that a solid corporate job can't help me out of.