Mary and Tim
GBJust joined and LOVING it!! I cannot put into words how much this opportunity to have been accepted to join this program means to my wife and I. I have been watching Phil’s videos constantly for about 2 months trying to figure out what to do and I never thought in a million years I would have a shot at working with Phil himself. The interview process was more thorough than I expected. For those of you who are curious, about Phil personally, he is the Real McCoy! If you can get in, it’s definitely worth it.
Nicole M.
GBReaching my goals I fell in love with Phil through his Youtube Channel. He does amazing work and gives out so much signal, as he accurately puts it, and I can tell he really cares. I finally joined the mentorship program 7 months ago and am about to close on my second house flip deal. I know that I wouldn't be where I am if it hadn't been to Freedom Mentor training me on creative real estate and helping me through the purchase process. I can't wait to close on my next deal, and the next, and the next. Thank You Freedom Mentor team!
Dave
GBConsider other options For anywhere from $1,000-$50,000 down (they determine what you pay down according to what you say you make in your initial phone call), you get 9 private mentor calls, 30 group coaching calls, and a certain number of e-mail messages. If you run out of calls, you have to pay more. If you run out of e-mails, you have to pay more. For the calls, you have to pay for each minute at 0.01 cent with your cell phone provider. The application process is to find out information to use against you to get a sale. There are no "limited spaces" or "we're almost at capacity," that's marketing language. If you have the money, you're in. There are many costs associated beyond the initial fee you give him: you have to pay for your website ($20/yr), LLC set-up ($150-$300), business address ($25/mo), $197.00 per month ePartner fee, $600-$2,000/mo to google to get your website to show up on the search engine, $25-$200/mo for MLS access, transportation to and from properties, $700 for title, inspections & appraisals, $500-$1500 for agents & attorneys (listing agent, closing attorney, buyers agent, real estate agent), they don't fund rehabs/repairs ($600-$30,000), and the list goes on... There are only 4 mentors available per week in group coaching to handle 100s of students, and they don't reply to your e-mails soon enough to help you make quick decisions. Instead of mentor, a more fitting title would be "help line or hot line associates." They are a group of people on a help hotline. You wait in line for 1hr to speak, get some quick ideas and then hang up. They don't research your leads beforehand, don't follow up with you afterwards, and forget everything once you hang up. They don't develop a caring and lasting relationship with you like Phil purports to have had with his own mentor. Everything you are given is all available for free in his YouTube channel, books, blogs, websites, etc so you're not getting any information the public doesn't get. When you sign up he sends you all of his YT videos and a 1000 page manual in a packet, but as you start looking at it you realize he never gets around to the important things like how to find out comps, rehab costs, ARV, figuring out offers, and negotiating/financing. You will be lost. Overall, I do not recommend this program. If you add the 50% he takes from your profit plus you use them to fund your deals (which he charges interest on at 15%-25%), that brings him to taking nearly 80% of what you make. In addition, if you don't meet the $250,000 split profit goal soon enough, you will not get your down payment back. For example, if it takes you 2 years to meet that goal and you put down $7,000, you're really only getting $2,200 back due to the monthly $200 ePartner fee. Consider another option. (The people who call you in the application process are experts at placing guilt on you if you say no. They get angry raise their voice, use info from your application against you, insult you and downplay your hesitations. I was heavily pressured and paid $7,000 for this program. Phil sees us as "suckers," in all of his videos he talks about "sucker investors." And a sucker would pay him $7,000 instead of putting it into their business and finding local mentors)
Kat
GBNo exit The program wasn't working for me. I asked to be let out of the agreement or renegotiate it. The answer was NO. No exiting. No renegotiating . Once you are in there is no way out. Regardless of what answer the program will give, that is my honest experience. There is no exiting after the 3rd day of the signed agreement.
Kevin Minnihan
GBYou Don't Get the Whole Story Don’t join Freedom Mentor unless you have cash reserves. It takes a minimum of $5K to join the program. And with that you get a binder with DVDs in it, along with a couple other manuals to guide you through the program. You also have access to coaching calls, videos and even some personalized coaching calls (depending on the amount you first invest). So, the tools are there for you to be successful in the program. IF YOU GET THE LEAD$. The leads are the HUGE ingredient in making this complicated recipe of making money work. Freedom Mentor does assist with you trying to avoid the potholes out there with their various steps you should take. However, all the instruction, encouragement and where-with-all doesn’t mean anything unless you have leads for potential sellers. And let me stress the word potential. There are MANY other companies and individuals out there fighting for the 1-2% (Phil’s numbers, not mine) of the potential sellers that will fit the criteria for Freedom Mentor’s program to work. And with the initial investment, you'll be given advice or direction on how to obtain leads, but Freedom Mentor will not drop one penny to get those leads for you. This is the genius part of their plan. They can’t lose. If you shell out hundreds or thousands of dollars every month for leads and nothing comes from it, the only person who is out is YOU. Not Phil or his company. You have to spend even more of your money to hunt for those few precious leads out there. And they are few and far between. I couldn't shell out the money every month for the leads because my finances were tight and just getting the $5K for the initial investment was almost two months of take-home pay for me at the time. Little did I know that the one caveat, the leads, is the main thing to make it all work. You can have a great car, but can’t start it without the keys. And the leads are just that. The KEY. Unfortunately, it’s going to cost you even more to get those. Which is why I said in the beginning, to make sure that you have cash reserves if you want to make this program work. Phil didn’t have to have cash on hand to get his first deals done. However, you are going to have to have plenty of it. No person living in their truck (like Phil was) would be able to be helped by Freedom Mentor today. Why? Because unlike Phil’s mentor, he won’t be a mentor to you unless you pay up. And that is not only in the form of your large initial investment, but also the monies you are going to need to obtain leads and the many other small expenses that add up to get a deal done. Freedom Mentor isn’t a scam or necessarily a rip-off, even though I lost $5K listening to Caleb Jenkins (the recruiter) and Phil. However, I wanted to let you know that there are MANY moving parts in this machine and MANY things have to line up and work out just right for a deal to finally get done. If you want to take that gamble, then that is up to you. For those who are looking to work with Christians and thinking that this is a Christian company. It isn’t. Jesus said in Matthew 22:39 that the second greatest commandment is “You shall love your neighbor as yourself.” I emailed Caleb Jenkins a couple months after joining the program to see if I could get my money back. After seeing the videos and listening to a few calls, I knew this wasn’t going to work with me because I didn’t have the funds for the leads and the $200/month to stay in the program. Caleb never got back to me. He was more than willing to talk with me before I signed up, but once I signed up, then I guess he didn’t have the time to contact me back. His job was done. And speaking of no contact. You’re not allowed to talk with others in the Freedom Mentor program except at corporate functions. After being in the program for a couple months, I was wanting to get some things figured out. I thought what better way to do that, than talk to those who have already done it. I asked my coach if there were meet-ups or support groups in my area for those in the program to bounce ideas off of and give each other support. I was told by her that Phil doesn’t want people talking to each other in the program. What?! I had never been a part of an organization that didn’t encourage participants to be there for each other….until now. Seeing Freedom Mentor for what it was made me decide to leave. There are obviously people who have made money with the program. However, the percentage of those who paid thousands of dollars to get into the program and actually made their investment back or got ahead will never be known. It’s kind of like other real estate programs out there. Yes, some people have made money. However, they are few and far between. Of course, what we always see are the "winners". And because of Phil's clever use of search engines, that's all you'll see from them. Unfortunately, you have to shell out $5K to see the rest. Don't get hurt.