I attended the free one-hour seminar in the Fall of 2011 in Topeka, Ks. It was nothing but a one-hour pitch to get you excited about the real estate business and give examples of how much money you could make! If a person wasn't already interested in and excited about the real estate business, he or she wouldn't be attending the seminar to begin with, so for me, this was a waste of time. They also led us to believe that FortuneBuilders would invest money (in you and real estate) because they realize that most people do not get into the business simply because they lack the capital to get started.
At the end of the presentation, I boldly asked the presenter how many times a person would have to go into business with Fortunebuilders and their "profit" before the person could go out on their own. The man told me you could do just one deal with the company if you wanted and that the fee was hefty. I don't remember exactly, but it seems like they indicated charging 50% of the money they loaned you to get started.
Thinking this could be worth it to get started since banks won't loan for real estate flipping at any rate, I decided to sign up for the 3 day program at a cost of $197.00. I did this even though I had some misgivings about how presentation was conducted and lack of details about the program.
I left that day (only after paying the fee) with a booklet that contained a lot of great information and tips about real estate investing. I was told to read the book and have questions prepared prior to attending the 3-day seminar.
I did what I was told and read the entire book. When I arrived on the first day, I was a little put off by the fact that there were no refreshments provided, not even coffee or water. I had never been to any kind of seminar that didn't at least provide that!!!
I was also not allowed to take my laptop into the seminar room, which I had mainly brought to jot down notes while there. When I asked them why, I was told they didn't want our attention to be "elsewhere" during the presentation. I thought, sh*t, I paid for this seminar, I should be able to use my laptop while there!!! Again, I had never been to a seminar in which laptops were not allowed.
The next few hours was nothing more than an insulting series of attempts to get us excited about the real estate business (again) and then, tyhen letting us know that they would be picking a "chosen few" to work with the company in an interview process later in the week. Finally, Paul Esaijan, the CFO, begins his presentation. I was admittedly a little starstruck just knowing this guy has been on the flipping houses show on A&E.
Anyway, I was disappointed to say the least. Paul did nothing but regurgitate exactly what was in the booklet we had been told to read. When I raised my hand to ask a question, he rudely let me know he would take questions when he was done speaking.
That was it for me. I was done. I walked out of the seminar before lunch on the first day and did not return. Since then I've read reviews that later in the seminar they had everyone fill out an application/survey which finally, finally, got to the reason for the seminar......asking detailed financial information, with the inference being that they were looking for people with access to money!
I am so glad I left that day and did not return!!!!!