Good afternoon folks!
Before you go see Than Merrill and the team of Fortune Builders in Boston, MA, come to the Boston AREIA meeting first! Look, I have nothing against Than and his team. In fact, of the “guru” coaching and mastery programs they are one of the best. And, Than’s team will tell you to make sure you get to your local REIA because it is where you will network with local seasoned investors, Realtors, lenders and more.
The problem I have with any “guru” programs is that most people aren’t suited to that type of training. I would say that 85-90 percent of the people who buy into these programs, don’t ever do a deal. The number could even be higher.
The thing is that the people who are successful would be without spending thousands of dollars on programs. Here is an example. A friend of mine found a Dean Graziose book on wholesaling at a yard sale for 10 cents. He happened to be talking to a Realtor friend about the book and she said, “Hey there may be a probate property this might work for.” So, he put the property under contract for $50k, sold the contract at $60k to a rehabber. He made $10k for his wholesale fee and in the end the rehabber made about $45k. The key is that he took action on the information he received. He didn’t need to spend thousands of dollars on courses and 10’s of thousands on mastery programs. Don’t get me wrong, if you have started a real estate business, are making money and want to take it to the next level, their mastery program or others may be for you. It’s always good to learn more. And, I know a few folks who have been successful with the program. The key is they took action.
For all of those newbies out there who are looking for that magic nugget that is going to get you started and get you out of your corporate 9-5 J.O.B.s, know that their programs are not cheap. Typically, you get invited to a free seminar, where they sell you a 3 day seminar or a course or both, at the 3 day seminar they sell you the mastery program or the weekend is full of other affiliates who are trying to sell you something. The courses run around $2k each and the master program goes for about $25k-$30k. These events aren’t really geared towards people becoming successful. They are focused on selling a product or service. And, I get it…I used to have Than and his team come and sell at Boston AREIA. I believe in the systems they have put together. But, then I found a trend when meeting with new investors who had tried Kiyosaki, Flipping Boston, Fortune Builders, etc…They had spent thousands and thousands of dollars and had never done a deal. Ouch when that’s your savings. Ouch when your spouse is saying no and you do it anyways because you KNOW that this will be the break and the nugget that will get you to that dream.
I say, due your due diligence, research a bit, set yourself a real estate schedule and become committed to working your business just like you are committed to your job. Prove to yourself that you will take action on your goals before you spend thousands of dollars.
One of the reasons I like Brownstone’s Fast Track program so much is because they teach you how to set your business and schedule, source deals and they source your first deal for you where you can make a portion of your money back. So, if you spend the money, you are guarenteed a deal. It’s the only program that brings you the deal while training you. They are truly focused on your success. They want to build long term business partners that will continue to work with them in the future as well. Look at Chris Chapin, he was a newbie…I introduced him to Brownstone and now he is managing 5-7 projects a month. He said, “Look, I am good at finding deals and managing projects, the paperwork, lawyer stuff, funding and everything else, not so much. So Brownstone takes care of what they are good at, I do what I am good at and everyone is happy making money.”
So, that’s my two cents…and it’s why we don’t have selling speaker events at Boston AREIA meetings and haven’t for years. Make it a great week…it’s going to be warm this weekend! See you at the next meeting…
So, the rehab tour in Canton was a smashing success! Congrats to Danyl, Brownstone’s JV partner on a great rehab! As you can see from the picture below, it was standing room only. About 55 people RSVP’d for the event and about 70 people showed up! Chris Coute did a great job talking about the rehab and both he and Chris Chapin talked about the importance of networking and JVing with local seasoned investors to get your deals done! They also talked about the Fast Track Coaching program that Brownstone runs to help newer investors. Be sure to come on March 19th to learn how Chris Chapin with Brownstone sources his deals and how he went from being a newbie to a Brownstone JV partner managing 5-7 projects a month!
Bernadette Trafton, Chief Connector