We have monthly meetings and loads of classes/webinars on real estate topics. 

Too much wasted time.

Because this is the business we've built together, we enjoy working together, we each have roles that reduce the work load on the group and personally I like that the risk is spread out.

The reason is over a course of time the vast majority will never payoff and the fund will have to foreclose and take possession which cost a boat load of money ..

Anyone can promise you the moon and the stars, but if you're not careful, you will end up wasting time and losing money.

Some old school sellers, like many in here have said, don't even want to waste time waiting for a mortgage and buyers who traditionally get cold feet right after inspection with a big loan.

@Matthew MorrowI have seen similar situations when the previous owner/seller loads the property with unqualified occupants.

Without this foundation any money spent on gurus, courses, books mentorships that teach techniques and methods is WASTED, even if the methodology being taught is valid.  

I’m sure there are a few successes stories in his group but for the majority of people that get in his group they are just wasting their money!

That's a heavy load to carry over time and sure will come with consequences.