What Is Freedom Mentor about? In case you want to learn how to invest in real estate, Freedom Mentor claims that they have the right training. So What Is Freedom Mentor offering? Basically, this company targets anyone who has money to buy properties.
Really, do you want to know What Is Freedom Mentor? Certainly, knowing how this company operates can prevent you from losing your money. From my experience with this company, they just want to take your money and sen you a box of paper.
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Key focus of this post reveals what this real estate mentoring program is all about. From this review, I hope you’ll find the answer to the question: What Is Freedom Mentor?
Like many people, I have an interest in real estate. During my research about the topic, I came across this company and signed up for more information. Based on my experience with them, I can share my discovery.
What Is Freedom Mentor? (Avoid The Rip-off) Review
Name of Mentoring Program: Freedom Mentor
Founder: Phil Pustejovsky
Type of Training: Real Estate Investment
Price: $8,000 (In my case, I was told this much which is a one time fee)
Ideal For: People who want to be a real estate investor
Star Rating: 2 out of 5 stars
First of all, learning with this company is costly. Surely, there is a less costly and legitimate way to earn money.
One notable observation is the YouTube videos, but it’s best not to succumb to them. Unless you really want to spend your money with them and get very little in return. In my research for information about investing in real estate, this company flash across my eyes on YouTube.
Primarily, the design of this program is to guide those who want to invest in real estate. Matter of fact, the intention is to help you to be a skillful investor. Albeit, this is not a program I would recommend for the cost.
Who Is This Mentoring Program For?
Important to realize that this mentoring program is for those who really have an interest in real estate investment. More important is getting help to find deals, close them and earn money. What’s more? Earning a full income of course.
Before you can start with Freedom Mentor, you must meet the company’s apprenticeship standards. Keep in mind, you’ll only know if you meet their standards through a phone call from them. To clarify, you’ll get the call after you sign up.
During the phone call, questions may cover your job, how much money you have to invest and your time commitment. At the end of the call, you may very well continue searching.
“There is nothing to lose by trying. Define new ways of doing things. Never underestimate the power of an action.” (Lailah Gifty Akita)
Starting With Freedom Mentor
Once you go through the phone call screening, you’ll know it’s to see if you can meet certain requirements like:
- Being able to take action as necessary
- Honesty (you’ll have to do a 50/50 split when you make sales)
Subsequently, you’ll receive a phone call up letter about moving forward. Then, there are some questions that you need to answer and email the responses. Notably, the letter stresses the importance of the next call. Ultimately, if you get acceptance, you’ll learn about their particular approach and the strategies.
After you commit to start the mentoring program and make the payment, you’ll get a package. Evident in the box is a large binder with tons of materials to read through. Likewise, you’ll have access to the following:
- An investment plan
- Their real deals page (Googling this takes you to the page)
- Lead generating software
- Database of a lender
- Weekly conference calls with other real estate mentors (2 per week)
- Instant messages from staff members
- Live coaching calls each month (3 per month)
- Staff contact number
Freedom Mentor Red Flags
Clearly, this mentoring is very pricey. With a phone call up phone call from the company, the cost quoted to me was $8,000. Not sure if this had to do with my response to the questions. Others I get to understand, pay a hefty monthly fee if they pay less. ($3,000 down and $197 per month)
- Missing Cost Information
Most noticeable is that the cost for the mentoring is missing from Freedom Mentor website. Instead, you’ll get a call from them. Surely, that is when they ask you about your job and finances.
Based on how you respond to the questions, I truly believe that’s how they tell you the cost. Seeing that some people get an initial cost of $3,000 and a monthly fee of $197, I figure that’s how Freedom Mentor works with their pricing. Of course, it’s only after I went through the process I figured it out.
- Splitting Profits
On top of the high cost, you also have to split your profit on every sale 50/50. Evidently, this is a rip off. Imagine, after you pay for training, you also pay out half of your hard-earned money back to this company. Sounds crazy for sure. No doubt, they need their students to be very honest up front.
But here’s the claim: As a student you also partner with the other mentors. Every deal that you close, you share your net profits 50/50. That is to say, you only walk away with 50%.
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More Red Flags
- Risk Making Sales
Basically, putting so much money into this mentoring can be quite risky. Think about the risk of getting sales. Sometimes you may never find a property to make a high profit. Markedly, you may never see the return on your investment.
- Quick Success
Claiming that you can succeed in no time is quite far-fetched. Further along, you’ll also hear that this is the best time to make money in real estate. Obviously, every time is not always the best. Can you believe that they also tout that your success in real estate depends on the right mentor?
Even the claim that providing strong guidance for students boost their confidence. As a result of this, students can avoid common mistakes in real estate investment.
Although Freedom Mentor is a legitimate mentor program, there isn’t much to say on the positive side. Sure enough, some students do reap the benefits, but “one cap does not fit all.” Despite this, I do not recommend this program for all the red flags mentioned.
Indeed, there are cheaper ways to learn about real estate. Literally, much of what the course offers you can find free online these days. And if it is not all free, you can get training at a lower cost. Take for instance: Udemy where you can find best-selling real estate courses. Starting from $10.99 each, you can explore several courses by top tutors.
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“If you don’t try, you forfeit the opportunity.” (Frank Sonnenberg)
The Book on Estimating Rehab Costs (J Scott: Author)
Specifically, this book serves as a guide for flipping houses. Anyone who wants to learn how to invest in real estate can read this book, and learn how to estimate your next renovation.
Substantially, the author shares his many years of rehabbing experience in this simple guide. Clearly, he wants newbies to avoid the pitfalls of costly rehabbing. As an excellent reference, both beginners and experienced investors and flippers can make this their “go to” reference.
Determining estimates for renovations is important. All the rehab questions that you want answers for are in this book. By the way, you don’t have to be a contractor to flip houses. However, you do need to know how to budget and price the renovation.
From doing simple cosmetics to complex upgrades, you’ll find this book handy. Chiefly, you can:
- Learn about the basic components of a renovation
- Identify more than 150 common renovations
- Do a property inspection for renovation
- Choose the best options to upgrade a property for a great profit
- Spot problems (like mold and termites) and fix them
- Accurately assess prices for rehab jobs and create budget details
- Find the best contractors for specific repairs
Crushing It in Apartments and Commercial Real Estate
(Brian Murray: Author)
Practically all the suggestions in this book can motivate those who want to become investors. Though it is a beginner’s guide to investing, experienced investors can find it helpful too.
From being a “newbie investor to award winning CEO of Washington Street Properties,” the author shares the secrets to his success. Through simple actionable advice he shares how you can start at any level.
Point in fact: The author also shares how you can work with the amount of cash you have on hand. Key take away from the book include:
- How to find commercial properties and how to finance them creatively
- Growing your portfolio without help from other investors and avoiding a large debt
- Use your investor position competitively over big investors
- Recognizing practical ways to boost profits and keep costs low
The Book on Rental Property Investing
(Brandon Turner: Author)
Another book with useful real estate advice is clearly put together by Brandon Turner. Specially for people who want to build wealth and create a stream of income with rental properties, the author gives real life motivation. Plainly, the author breaks everything down for simple understanding. Especially when you need to calculate your Return On Investment. (ROI)
Before purchasing a property, the author points out the pros and cons for each type of rental property. Straight up, he tells you that there is not just one right way to do real estate. Rather, he points out the different options.
Correspondingly, he encourages readers to find out what fits their lifestyle and skills best. Unquestionably, this book is not for the laid back person. But for those who are willing to learn and take action.
The Ultimate Step By Step Guide To Finding & Investing In Off-Market Real Estate
(Liran Koren: Author)
Particularly, real estate newbies will find this book helpful. Usually, many people purchase properties via the MLS system. Unlike this method, the author shares how an investor can purchase off-market properties at auctions. Brilliantly, Liran Koren shares his experience getting foreclosures even before the lender starts the process.
Naturally, it’s good to know the opening bid for an auction. Knowing this from the bank can give you an idea of how much you can bid before the auction starts. All in all, the author explains about equity. Markedly, when you know how much equity is in a property, it can save you from making a bad decision. Just following the steps in the book can help you foresee whether there is equity in a property before you purchase it.