WealthBuilders - Posted by bobbyc

Posted by Ronald * Starr(in No CA) on July 09, 2002 at 23:27:45:

Bobby C--------------------

Usually when people ask about real estate investing “educators” one can put it in the search engine at the top of this main bulletinboard forum of the CREONLINE.COM website and get some comments. This time I did not seem to get anything pertaining to them. I found a couple of posts with that name but they don’t sound like the same thing.

Thus, I give you my advice, without knowing anything about the group you are referencing, except what you say about it.

I worry that it is a sophisticated operation, intended to separate eager beginners from their hard-earned money. I say this for a couple of reasons. The time-deadline for getting the discounted fee. This is a standard pressure tactic to get you to spend you money without due consideration.

The promise to pay you to find good deals is also a standard tactic used to lure beginners into paying for real estate investment education. Some companies seem to always find something wrong with every deal brought to them and thus they never live up to their promise. I heard one sales pitch for a foreclosure seminar that required a front and back view and, as you mention, comparables and so on. However, when you buy a foreclose on the auction block, you often can not get in to see the back. What I am saying is that it might be difficult to satisfy the requirements for them to put up any money.

It sounds to me as though they make their money from the beginners paying a lot for education which can probably be gotten a lot cheaper. If they really made their money from making deals brought in by their trainees, they would not have to charge so much.

If I were in your shoes, I would be on the phone to them early in the morning asking them for names and telephone numbers of satisfied students who took the course from 6 mo to a yr earlier. And then call those references, if you get them. If I were doing this and could not get any references from them, I would NOT PAY them anymore. There prices seems awfully high to me.

My suggestion would be to use the money that you would have paid them to make your first deal or two happen. There are lots of ways to learn this business at a lower price than they want. If you want to know my advice for beginners, I suggest that you put “beginners success” into the search function at the top of either this main bulletinboard forum of the CREONLINE.COM website or the board2–Carleton Sheets forum. I recommend low-cost ways to educated yourself.

Good InvestingRon Starr**

WealthBuilders - Posted by bobbyc

Posted by bobbyc on July 09, 2002 at 20:50:18:

Greetings,

Does anybody know about WealthBuilers? They’re based out of Springfield, Missouri. I attended their seminar today in Omaha, Nebraska. They, like many others, offer a two-day workshop on creative real estate: $2300 less $500 if I commit by noon tomorrow. The “mentor” package is four days (two in the classroom, two in field) for $6500 less $1000-commit noon tomorrow.

I am definitely interested in a workshop. I have a couple books, one of Bronchick’s and one by Myers. They are good but I’d still like a workshop. Is it worth the money-those of you who have done that?

They offer an “in” for financing; important to me as I have none. It works something like this: I find, sign (contingent on their approval) and submit pkg with pic, three comps, etc. Their must be at least 15K in it for them to look at it. I get 5K finder’s fee or, as a “mentor” 50/50 split. I can use my own financing and get %100.

Any feedback is appreciated. Thanks in advance.

Re: WealthBuilders - Posted by Jeff

Posted by Jeff on July 10, 2002 at 23:55:46:

I went to the two day conference in Springfield. The material was very subpar and replicated throughout the two books given to me. Easy to find the same information in any real estate investing book at the library. No lie on that. Very skimming of the surface stuff. I have learned from the two day “conference” that a FOOL AND HIS MONEY ARE SOON PARTED or however the phrase goes. Waste…Yep. Soooo glad I didn’t do the $5 grand mentor thing. Want to spend the same amount and learn more than most, attend the CREONLINE convention instead of the Wealthbuilder program.

My opinion is worth what you paid for it. :open_mouth:

Jeff

Re: WealthBuilders - Posted by Stew(NE)

Posted by Stew(NE) on July 10, 2002 at 14:52:28:

Are you in Omaha? If so give me a call at 597-0499

Re: WealthBuilders - Posted by mrwi

Posted by mrwi on July 10, 2002 at 13:10:00:

Bobby, SAVE YOUR MONEY!!!
I went to their presentation about a year ago in St. Louis. I dont remember the guys name but he used to sell appliances and claims that now all he does is real estate. At the time he claimed they had bought 100 homes the previous year and had a guy that was doing super well in Kansas City. I agree with Ron*Starr. they seemed to me to be more about getting their income from their “seminar” I went to find out what it was about and to see if I could network, but when it turned into a sales pitch and high pressure, I walked! There is not necessarily anything wrong with what they are doing, however, why should you give them 50% of the deal or $15,000 when you have done all of the work. You have the same access to the money resources they do if you learn how to find them, and you can do that for FREE! They are basically looking for grunts to do the work and then partner up so they can get their finger in the pie! Again there is nothing wrong with having a partner or a mentor that you end up splitting deals with. I just think that you can do the same thing for less. Just my humble opinion and thoughts!!!

One thing to consider… - Posted by ken in sc

Posted by ken in sc on July 10, 2002 at 07:13:16:

when choosing a seimnar to take is - How does this person earn a living? Of course, all people who teach seminars make some money that way, but many make far more money in their personal RE holdings or buy/sell operations. For my start, I took a 3 day course from John Schaub that cost $595. Once you have taken that course, John is happy to answer questions via email or the phone if you are working on a deal. There are others similar to this who are happy to help, and don’t want outrageous “mentor” fees. These people teach a few times a year to give back to the RE community, not to enrich themselves via high dollar seminars and mentor programs. So look at who is selling to you, and why they are doing it.

Ken

My 2 cents! - Posted by M Lee

Posted by M Lee on July 10, 2002 at 24:39:15:

I would save the $6k…
I would go to the links below…they are like 2 of the best CREOnline Posts…

http://www.creonline.com/wwwboard2/messages/17626.html

http://www.creonline.com/wwwboard/messages/arc_2001/arc_50/50774.html

Then I would devise my plan in this RE Game.

I would post here on CREOnline, looking for People in your local area, who would be interested in buying deals from me(Wholesaling), or who would help me negotiate deals, and Split Profits(Lease Options/Subject To).

Another source for these people is the newspaper…Anyone with “We Buy Houses-Cash” Ad…Call them ask them what kind of houses do they buy, and How quick they Fund, and You Would like to work with them, and bring them some properties!

I would also get Bandit signs, and begin posting them(Watch out for the Law).
http://www.supercheapsigns.com/

where I got mines.

I hope this helps…
I am in the same position. I feel working with people in your own area, and experienced investors, you can Earn While you learn, with no money down.

I wish someone would have told me this 2 years ago, at my first Russ Whitney Seminar!!!

If you have any other questions email me.

matt_lee2000@hotmail.com