Quote from @Stuart Udis:
Why can't you merely network with real estate brokers and find a 60-unit apartment deal? It doesn't seem this "accelerator program" is offering anything of true value and quite frankly I am surprised someone such as yourself who has 10 years of experience and owns 50 properties would fall for a gimmick.
I've had friends and family swindled by the gurus and seminars out there (I've been duped myself before) so I can understand the cynicism, but not every community is just a gimmick. To say this community has no value is quite a negative judgment to make without sufficient information to make it.
I wholeheartedly agree there are a lot of (too many) "gurus" hocking seminars and workshops and taking advantage of inexperienced, aspiring investors so they can sell more seminars and workshops and swindle more people. Most of these gurus haven't really invested in years, or they pay someone else to do it while they specialize in being a social media influencer and motivational speaker, so I share that frustration. But, a mastermind community can have tremendous value when structured well.
I also agree that networking with brokers is useful, I was a broker for 15 years, but the choice isn't between networking with brokers or joining a mastermind to network with investors. I recommend doing both. Our community is actively identifying and investing in off-market deals, sharing the cost of virtual assistants and direct mail, sponsoring deals, investing our own capital, and having multiple group calls and webinars every week with institutional analysts, real estate and SEC attorneys, regional banks, private lenders, and other experts specifically to discuss and analyze deals within the community.
Our philosophy is that when we create shared success, we all grow together. We focus on each individual's goal and provide resources to help them get there. We aren't trying to get them to invest in our deal, we aren't upselling useless seminars, and we aren't trying to become a massive sized group. We are full-time investors ourselves (I'm Director of Acquisitions for a private equity firm); and our income comes from our investments. The Mastermind is a fraction of the cost of most seminars and really just covers the cost of the experts we hire to serve the community. We turn away more people than we accept and if people do join and don't find value in our community, they are free to leave and we offer refunds.
A community isn't a gimmick, it's an opportunity for the right people to level up quicker than they would on their own and avoid the mistakes others in the community had to learn the hard way. The lone ranger approach works for some people, and I'm certainly not saying this is the only way or the "right way" to success, but for me and others in the community, it has been valuable and rewarding. In fact, I would say seeing someone else get their first multifamily deal brings me greater joy these days than getting my own.
That said, your comment is appreciated because I think everyone should approach every mastermind, every seminar, every workshop, every program, and every supposed "guru," with a very healthy dose of cynicism. There are a lot of snakes in this industry, so I respect your discretion.
