By helping individuals start their real estate businesses, FortuneBuilders claims to be the “premier real estate education company in the country.” FortuneBuilders was founded by “nationally recognized real estate investors” that are focused on creating programs that “scale quickly, maximize profits and reduce risk.”
FortuneBuilders is based out of San Diego, CA, and has been in business since 2006. The company holds an A+ rating with the Better Business Bureau, with just 16 closed complaints over the past three years. Despite this, online reviews regarding the company’s programs appear to be primarily negative, with the most common complaints citing that the information received does not match the extraordinarily high price tag, and that most of it can be obtained for much less through books.
How FortuneBuilders Works
As an education-based real estate company, FortuneBuilders claims to “bring entrepreneurial opportunities to the masses, and to “provide students with the blueprint to start and grow a real estate business.”
To accomplish this, FortuneBuilders offers several different programs, depending on your needs. These include:
- Mastery Coaching – Helps you strategically invest in real estate using a team of expert coaches, one-on-one mentoring and support, access to a community of like-minded individuals, and much more.
- Marketing & Wholesaling Bootcamp – A 4-day intensive that can help you set up your company, create a marketing plan, learn how to evaluate deals, build your buyers list, obtain financing, and much more.
- Rehabbing Bootcamp – A 4-day intensive that teaches house locating techniques, how to sell your home and obtain insurance, and even a live onsite bus tour.
- REO & Shortsale Intensive – Claims to help you take advantage of the unlimited income potential associate with short sales using marketing techniques, insider secrets, and systems that can “double your profits.”
- Online Business Bootcamp – An online-only event that focuses on “creating online funnels for your real estate business.” Topics include blogging, affiliate programs, social media marketing, joint ventures, and more.
- Insiders Summit – A 3-day investor training series hosted by A&E’s “Flip this House” TV stars.
- Courses – Includes topics such as Marketing for Deals, Rehabbing and Maximizing Profits, and Wholesaling for Quick Cash.
To read tidbits of real estate information at no charge, you can also visit the regularly-updated FortuneBuilders blog, here.
FortuneBuilders Pricing & Refund Policy
While no prices are listed on the FortuneBuilders website, during our research we learned that some programs can cost as much as $25K. If you have a price-related question regarding a specific program, you can reach the company at 888-807-9964 or through their contact page.
- FortuneBuilders claims to help real estate investors start and grow their business, in addition to offering a wide variety of continuing education opportunities.
- Claims to have been founded by “nationally recognized real estate investors.”
- Very high prices.
- Keep in mind that success stories featured on the FortuneBuilders website may not be typical of what you can expect.
- As with Scott Yancey, there are numerous online complaints claiming that the information received does not match the extraordinarily high price tag, and that most of it can be obtained for much less through books—or even just taking the plunge and purchasing your first property.
Bottom Line – Is FortuneBuilders a Scam?
Similar to Scott Yancey, FortuneBuilders charges a very steep premium for the information they provide, much of which can be obtained for little to no cost elsewhere—though you’ll be required to handle your own research. In fact, according to this complaint, obtaining your library card could be more beneficial to your real estate investing career than handing over $25K of your hard-earned money to FortuneBuilders.
Also, similar to other real estate courses, initial FortuneBuilders “consultations” are often filled with vague information, statistics that aren’t backed up by facts, as well as high-pressure sales tactics. On top of this, your initial payment is only the beginning, as FortuneBuilders will attempt to continuously upsell you on additional training and “membership” programs, most of which carry increasingly higher price tags. According to some sources, FortuneBuilders supposedly uses to create a sense of urgency, ultimately aimed at separating you from your money.
Finally, according to the FortuneBuilders Earnings Disclaimer, “Any income or earnings depicted are NOT to be interpreted as common, typical, expected, or normal for the average student.” In other words, all the success stories used to promote FortuneBuilders do not represent what most students can expect to achieve.
With all of this in mind, based on the overwhelming number of negative online customer reviews, it appears that your money would be better spent networking in your area, purchasing a few books on the topic, and even just taking the plunge and buying your first property.
37 out 38 people found this review helpful
Scam in Disguise
I just completed the 3 day course today and all I can say is they are serious "Gold Diggers!" All of the information they gave I already read in books or online. They didn't tell me anything new. Then they wanted $35,000 more so I can be one of the "Chosen" few to further my way through their program. Really? When I told them I didn't have that kind of cash laying around, they told me to open as many credit cards as I can and charge it as a "Business Expense!" If I don't have the money now why in the world would I want to go further in debt. They try to make it sound so good but everything they tell you you can find for free. They also teach you how to "Shuffle" your money around so you pay less in taxes. I asked my accountant AND my attorney and both say it's illegal the way they are doing it.
Bottom Line: No, I would not recommend this to a friend