Lifestyles Unlimited of Texas

[Ciera Calhoun]

I recently found out about a real estate investing mentor group called Lifestyles Unlimited based in Texas and decided to do some research on it. I came across a thread on this forum about the company from 2008 and very few people were involved with them. I figured I'd pose the question again since its 4 years later. Maybe there are some credible members of this forum that are also members of Lifestyles Unlimited who have joined within the last year.

My question is how beneficial is this group? Has anyone on here experienced success in real estate investing from their training? Is it worth the $500 membership?

If there is a recent thread on Lifestyles Unlimited, please link.

[Account Closed]

I joined lifestyles back in 2010 when I was just getting my feet wet in RE and didn't know about biggerpockets. The $500 2-day was educational and I did learn a lot not knowing much going in. At the time I would say $500 was worth it for me, but that's about it.

I'm sure in one of the ten pages of the other lifestyles forum thread it covers this but there's three levels of membership; 1) $500 - you get to attend the 2-day, you get access to their "vendor's list"; 2) $5000 - SFH mentorship where you get emails from their SFH mentors (in-house realtors), access to their online SFH education, SFH roadtrips 3) $10K - MFH mentorship - where you get emails of their multi-family deals, get access to their MFH mentor and MFH education, get to attend their field trips where they tour current memeber MFH deals.

Vendor's list - don't be fooled that just because they're on their vendor's list that you won't have problems. It's hit/miss like angieslist. They have a review system where people put their feedback negative/positive. Most are positive since I think most members are affraid to post anything negative. And in some cases some of the positive reviews are biased since I've had vendor's email me to give them positive feedback before a job was done b/c they were so close in winning "vendor of the month". I've heard to be a vendor it's $500 a month. I've seen vendors come and go as well. On the flip side I have to say that I have met some good contacts and develop good relationships with some of the vendors that I still keep in touch to this day even though I'm not a lifestyle member anymore, but I recommend that you still do your due diligence when you select a vendor from their list. The best vendors/trades people that I've found was not from their vendor's list but from the local meetup RE investment email list, which is FREE!

SFH Mentors - their SFH mentors are in-house realtors. They send email blasts of "deals" they found quoting exact numbers like "$535 cashflow / month, XX% equity capture, etc.", but yet give an approximate on their rehab and purchase price. e.g. 70K purchase price, 12K rehab. i'm pretty sure they don't even do a walk-thru of the property they advertise since it's just an active listing on MLS, which you can find yourself through mls or realtor.com. the emails contains basic info but not the property address so you have to reply back to the mentor that you're interested. they say that they offer the deal to the first the responds, but i have a feeling that doesn't happen all the time. since you're competing against all the other members that respond to the email blast and they can only submit one offer, don't count on the in-house realtors finding you deals-that-they-scrub-off-mls. most members i've talked to find it on their own and submit it to their mentors to write the offers up, if at all.

They offer a product called quest, which offer mls access to run comps for $79/month. i haven't used it but i think there are much more cost effective and creative ways to gain access.

MFH Mentors - in dallas there was only one MFH mentor. all the PIG members pretty much seemed to be fighting for his time. 20,30,40,etc. MFH members and one MFH vendor. you can see how that works.

To some extent when you work with their mentors (SFH/MFH) there's a leap of faith you have to take that the deal their bringing to you and the info they're telling you is legit and you should act now. If you didn't, the mentors move on to the next willing member who could act... now!

A tactic they use for you to sign up for memberships is that "you will earn back your membership fees." Sounds good, but that's just them giving back a cut of the realtor's commission check IF you use their in-house realtors if you can put up with the competition with other members for the realtor's time.

They also have online education for SFH/MFH investing. Education being online recordings of live sessions they recorded out of the houston location. it's pretty boring if you can sit through all of it and you could learn a lot more from BP. IMO I wouldn't say there's a lot of substance in the education for sitting through 60-90 minutes of it.

My opinion - spend the $500 for the 2-day but absolutely don't sign up for any other memberships no matter how convinced/pursuaded you are. If you're willing to spend $5K to use their realtors, you might as well spend $2k and get your RE license yourself. If you're willing to spend $10K you might as well spend the money toward more accredited education like the CCIM for MFH education. Or just spend more time on BP, which cost you NOTHING.

This was my experience, it could be diff in SA/HOU. Mostly negative since I'm still bruised for spending 10K. The grass is not greener after the $500. I was persuaded since I was a newb, eager, and didn't know of other resources like meetup groups and BP.