Would like opinions on FreedomSoft program offering

Question

I am a brand new investor who will be doing a first-ever auction on the 17th, online, hoping to buy a few tax lien certificates in Maryland.  So that's one venture I'd welcome advice on.

I do see that the whole point of Bigger Pockets is to avoid having to pay for training and mentoring.  Too late!  I've already invested some $$ with training from John Lane, Tony Martinez, Dustin Hahn and Real Estate Mogul (Preston Ely & friends.)  The good news is I've learned quite a bit from what I've studiously listened to.  It's given me the confidence to sign up for that auction, for one thing.  And I get the point that there's a lot of hype and thus far, no real one-on-one support.

But this morning I watched a 10 min. video in which Preston Ely touts his million $ software wholesaling program, FreedomSoft. I'd be grateful for a second opinion on whether to spend $37 now and then $97 per month for this website with it's permanently updated program, in which he claims one can easily wholesale houses remotely by just matching up almost unlimited nationwide lists of cheap houses with eager buyers and make thousands a month doing so.  He does offer a 30 day money back guarantee, and says you can cancel any time, so I'm tempted.  Feel free to share your advice with this newbie!
Thank you.  With gratitude in advance,
Ru

Rick H. · Answer

Ru, I'm not opposed to investing money in my own education and still do.  One of the names on your trainer list attended one of my events last year and was both a good contributor and fun to have with us at my ranch in Northern San Diego area of Southern California.

There is a strong bias on this site about not spending money on training.  That's fine with me.  There are some real boneheads out there and a number of charlatans.  And it's not easy figuring out who has something of value to offer and who just wants to take your money.

I think the real value of BP is not in being an alternative to training but more as as comprehensive site offering multiple perspectives and experiences in many, many different areas involving real estate investing and peripheral services, like brokering, lending, wholesaling and property management.

As far as spending your money on services however, I'd encourage you to wait.  Learn what it is you want to do.  Learn how to do deals, research them manually, buy them carefully, document them cautiously and market them one by one.  This will help you get a feel what works and the resource automation that could be a time saver...once you're spending so much time working deals that the cost of using your time becomes an opportunity cost to other deals.

As for specials and tempting offers, if the product is really good it ought to be worth buying or subscribing to later at full retail.  Meanwhile, learn the business that you're attracted to, build systems and perhaps get a little paid help when you need it and save the money for later education.  Haven't met a pilot yet who learned to fly only reading discussion forums.

David Beard · Answer

Ru, you should be rightfully skeptical of any platform that says you can rather easily make big money by virtually wholesaling properties all over the US from your computer at home.  Please!!!  Someone please explain to me how this could possibly work, how you could scoop the local wholesalers in their own markets around the country, without even knowing anything about that market, and having no local teams in those markets.

Andrew describes a system that provides convenience and enhances productivity by bringing together the technical and web aspects of a successful wholesaler's business into one system.  That sounds reasonable, and you can evaluate whether it's worth $97/mth, versus the hype around making virtual millions from your computer.

Charles Allen · Answer

I have questions with Freedomsoft:

Does it show brand Freedomsoft when you have your team calling back leads can you use your company logo/branding with the software?

If you have acquisition sales ass. calling on leads in the system? Have you found this easier to manage your lead flow for your team?

Do you recommend iCarret.com or website building in Freedomsoft?

Do you use Freedomsoft at this time?

Would like to get feedback from those that use the services. If not, is there a better service in the marketplace for wholesaling, flips, and buy & hold?

Would you use this with Callrail? Podio? Zapier?

Ronald G. · Answer

Andew. I agree with your post. Certainly, Mr. Ely is an exceptional marketer. But that's not my point. As I stated, or intended to state, I am neutral. In fact, my research turned up many positive reviews and demos of the FreedomSoft CRM.

Moreover, as an adult, I think MS. Russo is fully capable of making an informed decision.

My perspective is more of a bird's eye view of where the market is headed, why the spate of CRMs, and why so many reg D funds are acting as intermediaries, selling their holdings to Wall Street, who then collateralize the underlying asset, mostly into debt instruments for re-sale at brokerage houses. Hedge funds are selling (not buying) into price appreciation.

In my opinion, and not only my opinion, it's housing bubble 2.0. But this is not the appropriate forum for this discussion. Zero Hedge dot com. has good content.

Andrew Massaro · Answer

Ronald G., Preston saying that checks whisk into your mailbox is marketing.  He's the best in the business at that.  But, that doesn't mean the product is not legit.  It is.  It's so good, that I now offer the highest level of Freedomsoft free to my students.

With that being said, I think it's a judgment call if Ru wants to invest in it now, later or not at all.  When it first came out, it was thousands of dollars.  At that price point, I'd absolutely recommend to wait.  But, it's come down to next to nothing to get in, and like $97/mo to keep.  So, at that price, it's just part of doing business, IMO.

Ronald G. · Answer

If you watch Ely's latest FreedomSoft video, it claims that checks will just whisk into your mail box, almost like fairy dust. And the entry level price has dropped to $27 plus the monthly if you play the squeeze page right.

I'm not recommending it. Many new knock-offs are coming on line from other Internet marketers.

Although the CRM aspect is nice, the real motive for dropping the entry barrier and having as many users in the system is all about deal flow; that is, "arbitrage".

For every FreedomSoft deal closed, a couple of points on the spread is earned as a management fee.

There's nothing wrong with that, per say. But do the math. If the spread is say, 2 points, and your buyers ponied up $1M a week for properties, that's $20k in fees.

Not bad. I would proffer that the actual numbers are higher.

Andrew Massaro · Answer

Ru Monsell, I am very familiar with Freedomsoft.  The creators are personal friends of mine.  IMO, it is the gold standard of investing software, mainly geared to wholesaling.  However, it absolutely will not flip a house for you.  It will, however, bring every resource and tool you need under one roof.  That is really it's purpose.

FS was the idea of a wholesaler, who longed to use just one resource to flip a house, rather than the ten he was currently using.  So, instead of using one site to pull comps, multiple sites for marketing, another program as a database and still more for contracts, he wanted all of that in a one-stop-shop.

Freedomsoft was born out of that dream.

So, I highly recommend it.  However, know now that you will still need to be active and work your business.  It's not some flip robot that you just put in motion and then find fat checks in your mailbox... despite the claims.

Victor Etongwe · Answer

Hey Ru welcome to BP! I'm not very familiar with tax liens, but I can tell you like most others on this site will that there is no need to pay for education before reading through the bigger pockets forum. The wholesaling section has many post that you can use to make deals happen. If you find that you still need mentoring after that I would link with somebody locally before you pay for any of the guru courses. Not bashing them, but it's so much easier to learn with somebody who can teach you in the flesh. Goodluck!

Would like opinions on FreedomSoft program offering

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