I am a current Lifestyles member as well, out of the Central Texas (San Antonio/Austin) office. I have not yet done a multifamily deal, though am meeting potential leads and hoping to find a deal to invest in soon. The one impression I got is that the MF deals are done outside of Lifestyles. Lifestyles works with the lead but "the deal" is formed by a partnership agreement drafted by the lead and agreed to by investing partners. I'm pretty sure Lifestyles purposefully structures this so that they legally separate from the deal. I believe this is to comply with securities laws. I know four people that have purchased MF investment deals through LU in my area, so I know it can be done. I think the "trick" is finding the deals and the leads to partner with them. I've met over a dozen potential passive investment partners for MF deals, 3 of whom I knew from outside of LU before I joined.
I am just about to close on my first house through LU (third investment property overall), but so far it's going well. I am about to put in an offer on a second.
It's sad to hear that Tony is having a bad experience in the Dallas area. I have never been there and know nothing apart from listening to some of their mentors on the radio/podcast.
My experience is that employees in my local office are genuine and helpful, though I think they sometimes lack consistency among employees. I chalk this up to a somewhat small number of employees and/or limited accountability. I can see how it could go bad but I have been able to resolve any concerns with in-person chats or direct phone calls.
I do not claim my experience is representative, but I did want to offer another data point.
