GoBundance, Guru, Seminars, Mentors and getting started

[Richard Sherman]

I just posted a reply in another thread then realized the thread was about 2 years old. This post is half question, half advice. First, let me ask the question.

We have heard a LOT about GoBundance lately on the BP podcasts. This made me curious, and I thought I would dig into it a little more. I will admit, I am highly skeptical about anything with a fee, anything that uses the words "mentor" or anything that alludes to being able to advance someone's investing/business/career through some kind of osmosis from being around others who have had success.

Now the question: Is this an organization with actual structure and value in a systematic way where the fees are used to provide support infrastructure, OR is this a updated version of a guru type system but with a monthly fee instead of a significant up-front cost mixed with some self-help (not hating on self-help, just not looking to pay for it .) ?

I did quite a lot of digging and mind you; I run a software company so I am relatively savvy at research, and found almost ZERO negative information..which is interesting in the world of the internet where you can find people who will hate on ANYTHING. I am not sure if that is an excellent sign or an indication of an exceptionally well-run PR group (most even semi-negative mentions, including ones on BP are usually retracted, sometimes mentioning they were contacted and educated about changes or new info, etc.

I do not have a dog in this fight, and I am interested in actual real, unaffiliated, unsponsored, unfiltered information. I am not talking about the less than 1 Million net worth group (though I am sure people would like to learn about that as well.)

I will end with the advice, specifically to new investors or people who are still trying to get things off the ground.

NO ONE can ever make as much of a change as you can, no class, no book, no mentor. Those things are all great bricks to add to your foundation, but the foundation is YOU. You need to get your life in order, save at LEAST 50% of what you earn, cut your expenses to the BONE, NO new cars, no consumer BS, no new iPhone. Get on some of the early retirement blogs for ideas on cutting your lifestyle. YOU control your destiny. Save money, get your first rental (house hack, Brrrrrrrrr, get a 4 plex and live in one, whatever.) SELF-manage until you understand what it takes and how to know if a PM is full of BS or not, self-manage until you understand what repairs really cost and to keep that 5-10% for yourself, pay yourself to learn. AVOID anything that requires money that has anything to do with GURU, self-help, mentors any of that. There is nothing those can offer that you can not learn on BP, the local library and Meet Ups. STOP being lazy, shut off your freaking TV.

Disclaimer: I started with 4 units in 2008, I currently own 65 units (30 Minutes south of Portland Oregon) and am in contract on another 19 closing in December. I self-manage, buy value-add properties, have 1 full-time handyman and just inherited an on-site PM from a 32 Unit property that we purchased in August, she is transitioning to do light maintenance and turns for all the properties and all PM duties. The goal is 150 units next year. NO hard money, all 70-75% LTV or cash (1031s from previous properties into larger properties.)