Carson W.
Sonoma, CAMember since August 2015

Reviews (1)

    • Aug 20, 2015
    • Verified Reviewer

    Scott Yancey

    Buyer beware.

    Overall Experience:

    When walking into the seminar at the Marriott SFO on the 31st of July 2015 I was upset the organizer didn't let me know prior to attending that parking would be $25 per day. I got off site parking for the next two days. As a simple courtesy they could have advised attendees about this additional cost.

    The seminar speaker, Stephen Libman, from Montreal is an independent contractor hired by "Performance Education", "Abundance Education" or whatever they call themselves, to motivate attendees to "invest" $30K of their hard earned funds in "additional education" in order to reap "greater rewards" in real estate; there are no guarantees as to what these might be.

    Stephen charges up to $9500 for a full day seminar of six hours. (He must have been paid more for this one since the session went on for more than 8 hours on each of the three days I attended). These numbers come from his website which clearly states his fees.

    Calculating the gross income to the "education" company, you can figure right around $80K ($2K x 40 attendees approximately), so it's conceivable that Stephen could easily have made close to $30K for the 3 day "seminar" leaving the company plenty left over to pay expenses and still have a nice profit.

    Stephen is a great motivator providing many examples of his own success but he isn't the average Joe. The examples he provides of his success in real estate are to some degree very complicated and unless you know what you're doing, which most of us didn't, there's no way we'd have the same abilities to achieve the same results. I do not begrudge Stephen, his talent as a public speaker and motivator.

    What I object to are the implied promises if you proceed to take the "Boots on the Ground" program with the "Buying Summit" in Las Vegas. No promises are given but if you fork out the $30K you're assured of getting a mentor and able to build a team to help you succeed in real estate. After I'd signed up and committed to the $30K I wondered if the "company" was so successful, why didn't they have a team of people to do what they said we could do, only then the profits for the "company" would be quite substantial rather than "sharing" them with others. It didn't make much sense. After 48 hours I had buyer's remorse and decided to cancel and they proceeded to refund my monies which they did promptly.

    If one wishes to become a real estate investor, he/she should get educated. Jumping into something like this without doing due diligence is like jumping out of a plane with no parachute. $30K is the cost of a new car. I was going to finance this on a 0% credit card. But what if I didn't reap the rewards that were implied? Think first, don't be moved by emotion or future thoughts of wealth. That's ridiculous. "Boots on the Ground"? No, feet first on the ground and use your head before making a compulsive decision that can cause you considerable pain.

    Bottom Line: Yes, I would recommend this to a friend

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