Complaint information
  • Author: Cindy
  • Date: 04.29.2013
  • 0
 (Votes #: 0)
04.29.2013

Fortune Builders

I have to post this now because the A&E Flip This House team just called me again to get me to go to their FREE workshop and they are making another trip to Minneapolis and Mankato to try to get some more recruits.

I am a realtor and Fortune Builders sent me information in 2011 to attend a FREE 3 hour workshop on how to make money flipping houses,sponsored by the A&E Flip This House guys. I attended the FREE 3 hour workshop on how to make money flipping properties, and during the FREE workshop, you could sign up for a 3-day seminar to learn more about how to make money rehapping properties for a little over $100 and you could bring a guest for FREE. I thought this was a great deal so I signed up and my husband and I took the 3 day seminar taught by Jon Steingraber. During the 3 days, they teach some techniques, but the bigger objective is to leave out certain information and sell you on their Mastery Student Program, and it's in that program that you learn all you need to know. They don't accept everyone though so if interested you filled out quite a financial profile with personal information and goals, what would it mean to you if you were financially free, etc and if your application was accepted, you were lucky enough to join the Mastery program. The cost of the program which included access to their website, training materials and six months of coaching was $25,000. I was a realtor, my husband a contractor, I thought with what they told us during the three day seminar about how great the program was and cited several case studies of profits, we would be successful in building a rehabbing real estate business. I was SO wrong.

There were probably around 20 people that joined the Mastery program with us, and every one did their six months of coaching and only 1 of the 20 people found deals. Fortune Builders has a very small percentage success rate. My husband and I spent hours with the coaching, doing the homework, following their marketing plans, visiting properties and the program simply doesn't work as how they advertised. They left out the part about how you would have to spend additional thousands of dollars on your marketing campaigns. They teach direct mail and bandit signs, both don't work, and the bandit sign marketing techniques they teach are illegal in most cities which they don't tell you. So you spend hundreds of dollars on signs that you can't use. Direct Mail campaigns are very expensive, they don't tell you that either. The Reale Flow they pitch you on, doesn't work and there is supposed to be a hammer time expense management software that doesn't exist. They described how their marketing plans would really build my realtor business, that never worked either.

Fortune Builders clearly oversells their program and they intentionally leave out the additional costs and what a small percent success rate they have with their students. They must be laughing all the way to the bank. We spent $25,000 and feel the program was at least two times more expensive than what they should have been charging.

Do NOT go to the FREE 3 hour workshop, and do NOT go to the 3 day seminar! Don't get sucked into their stories and scam you out of $25k. I can't stand the thought of them coming through town again and taking advantage of more people with their false advertising.

Cindy
(Personal Information Removed)


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Complaint author: Cindy

Country: USA
State: California
City: San Diego
Address: 960 Grand Avenue
ZIP code: 92109
Phone: 6198810575, 2036240444, 8666798655
Site: www.fortunebuilders.com

Category: Miscellaneous

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