Hello, I have been , as many of you, teetering on the brink of getting going, reading everything i can get my hands on, and subscribing to all I can find. However, recently, I was 'selected to get on board" with a company who " guarentee my success " for a mere 5000 dollars upfront. Unfortunately, I was suckered into a cash flow program for just that amount recently (or fortunately, i could say) so I was reluctant, to say the least. We went round and round on the phone for nearly 2 hours, with the person simply not accepting that I did NOT have that kind of money, and me not wanting to forgo the promise of riches and weekly monitoring and mentoring ! Now, whilst I do understand that there is no such thing as a free lunch, and would dearly like someone to hold my hand, I did feel somewhat put upon by his intimations that without their company, I was doomed to failure ! To buy your own successful company for 5000 dollars…a small price to pay !
What do y’all think?
What is their “Guarantee”?
I guarantee in the end that they will have your $5K (and that’s just the ‘upfront’ money – more hardsells are on the way!!!) and you’ll be wondering how to cash in on their weak, legalese “guarantee”!!
If the upsell is that hard, steer clear! Most of this information is available for free on the internet in places like, well, THIS SITE!!
Keith
I’m new to all this too.
Been trying to figure out whether to do wholesale, rehab, lease/options, what have you. Been to a couple of local REI meetings, taken one day seminar on rehabbing with Pete Young.
Looked into mentoring as you are. Bought/sent back Vena’s course. Good info, but lacked start here, to get there roadmap. Might try Bronchick’s next.
Your $5,000 mentor guarantee. Agree with previous poster. One thing will be certain, they’ll have your USD 5,000.
“Guarantee,” will probably be replete with things you must do/attain to remotely have chance to recover your money, if you don’t make your million.
Then they refuse to honor it, though you’ve proved you abided by T & C. Now what? Go to their state – complete with airfare, lodging, meals – to sue them, get a lawyer, whatever . . .
Notwithstanding court docket, 6-weeks, 6-months, two day notice to appear? Meaning you’ll be making more than one trip just to see mentor and their attorney in person. Let alone “vacation” time from your employer at x-dollars a day that will cost you.
Will cost decent amount of money, just to start the legal process. Moreover, you’ll probably lose … since they’ve been through the drill before and know how to defend themselves. Besides, will the Judge be straight up? Or will he/she be a bit parochial in attitude?
So, let’s see … $5,000 lost on mentor deal … another $5,000 for legal, work time lost, travel, lodging, meals, multiple trips, sort of stuff . . .
All the while knowing the mentor, his staff of guru’s, and attorneys will be quite comfortable, thank you; whilst you, since new to lawsuits, perhaps, are anxious and unknowing . . .
Good Luck . . .
Well, if you do sue them, you will most likely do so in small claims court where you represent yourself as do they.
Depending on state and county, it could cost you anywhere from $40 to $2000 to put this case in front of a judge. If you win a judgement, you now need to collect. That is on you to do so. If you sue a corporation and they close, you just won a paper argument.
It would be wiser to spend time reading every single post here and spending a couple bucks (IE $100) on a couple books. That should give you a good idea.
Start very small and learn the ropes. It is not hard to buy a home. Thousands of clueless people do it everyday 
I have read over and over to not start out with a rehab project as your first taste of REI. Find some small property you can rent out and go from there. There are so many ways to make money with RE that your head will spin. Pick one way and learn all you can. For example, buying a property to LO out.
when looking at these programs, keep it VERY simple: look at how they make their money (not what they talk about)…
are they even investing in RE themselves to make these huge profits they promise you?.. or do they spend most of their time marketing and selling you on these “guaranteed programs” or whatever B.S. they’re up to? :
if they have been so successfull, why do they have to gouge you out of $5k for a little mentoring? ???
thanks pip, keith ccc and evergreen, for reminding me what i instinctively know.
and funnily enough when i mentioned to him after two hours of haggling, that any deal that seems to be too good to be true etc… he lost it and rudely terminated the conversation.
it’s nice to know i;m hanging out with the good guys now !!1
Hello to all,
I am glad to see the topic brought up because just 5 days ago I gave in to one of these programs. One thing is for sure…and that is I definitely have more motive to make some deals happen and really fast. And to give everyone a little background on myself. I’ve been reading about re-investing for about 6 yrs now and have done little. I have 2 rental properties, some vacant land, and 4 remaining homes that I purchased for pennies at my local tax sales this year and last year. I have been wanting to try a flip or wholesale and just haven’t felt confident enough to do it on my own. I have turned down the mentoring programs for years at functions at hotels and from strange phone calls. But I finally gave in last weekend. I am starting to regret it a little but I am still hoping that it will give me the extra kick start to make things happen. I’m tired of sitting around and watching everybody else make these great deal. I’m tired of watching other people buy Sheriff sales at great discounts and make excellent money of the fix and sell. I am now tied to 6 months with them and destined to make it work. I hope that they can answer all my questions and give me the extra support I need because I think I have everything else…knowledge, skill, dedication, credit, and lots of credit cards($20k of cc debt after the last remodel that I know rent for $600/month and need to make some money on a flip to pay it off…this is my second motive). I will keep everyone posted on how things go and let me just say that this is the best damn rei site on the web. Congrats to all the moderators and people for making this a great place with tons of info.
Lee
Good luck Lee! Keep us informed.
Anyone who cops an attitude when negotiating or when being questioned is not someone you want to do business with.
How about paying them after deals are done? Oh, you want all this cash up front. Interesting . . .
Send me 5k and I will guarantee the sun will be in the sky everyday.
Who wants to start a guru business with me, we’ll write a course and outsource mentoring over seas.
Sorry just a disgruntled techie 