I started on the terrible Dave Lindahl journey by attending one of their free two day seminars. I knew it wouldn't be him speaking but I went anyway. The information was captivating but the other sales pitches were not.
Nonetheless, I ended up going to his Apartment Riches/Multifamily Millions bootcamp. The information was a very good overview of how to analyze apartment buildings.
Of course, at the bootcamp, they start selling their coaching program. I asked one of the other attendees whose business partner had gone through the coaching program. He wouldn't give me a straight answer. I should've have taken that as a big red flag. They start showing numbers crossed off on the screen about the number of remaining coaching spots, like they only take a certain number of students.
Overall, the bootcamp was actually pretty good. Before I could even arrive back home, since I had to travel out of state for the bootcamp, I was already receiving calls from the office about what I thought about the event and about coaching.
They made it seem like the only way you can do a deal was by joining their coaching program. They sold a dream that they would guide me step-by-step through the money raising and finding a deal process. So I signed up for the coaching program. It was over $11k. They also had another offer for $3k for a "secret society." This would entitle you to access to another website and more networking event(s). This seemed like multilevel marketing but I ignored the warning signs.
The coaching program started and I was assigned my coach. I was even more disappointed when I found out that Dave Lindahl was not going to be my coach but I guess I should have known that.
My coach, started off pretty well with addressing how to get started and what to say to people. However, over time, it got worse and worse. I would ask a question about something and he'd respond with a question about if I had read the manual. I thought my coach was supposed to be like a teacher and explain various topics to me. Another time, he just told me to listen to the audio for a topic on the website. I told him I already did. He told me to listen to it again. Another time, he told me to find an expert at my local REIA to learn from.
One time, my coach missed a call and I didn't even get a make up call for that missed one. I only get to talk to the coach once every 2 weeks for half an hour and he wouldn't even make up the session he missed. It's not a great feeling when you spend 11k and your coach won't answer your questions or clarify various topics.
Also, my coach will ask me "so what have you done these past 2 weeks & what are you going to do over the next 2 weeks." I know that the "coach" is supposed to keep you accountable, but I can check in with other people every 2 weeks for free. My coach also says that I can email him questions. What's the point if he'll just tell me to find the answers elsewhere? I did email him a question once. Of course, he didn't answer.
I decided to attend other bootcamp/events of Dave Lindahl's. Those events were not included in the free events I receive with the coaching package. They don't even provide lunch for us. When you go to a bootcamp/event, they're selling you on another bootcamp.
They create an atmosphere where they make you believe like you can't do a deal without them and their coaching program. They make you think that you can find all the investors you need by simply posting on the coaching website's blog/forum and by attending the events. I have seen others find investors/partners from the events but how can say that will happen for everyone?
They also tell you that if you find a deal and get it under contract that you'll be able to find the money for it. I spoke with others who heard of those who lost money and the deal because they weren't able to find the investors they needed after finding a deal. Of course the office management and the coach didn't have any answers. You should never contest their system-they don't want anyone to rock the boat.
I eventually just had to stop calling my coach. I wasn't learning anything from my coach. I feel so hurt and so betrayed. I was totally ripped off, as were other people I know from the program. They sold a dream with no roadmap or guidance for how to get there. They make it seem like it's so easy, so long as you attend their bootcamps and join their coaching program.
They blame lack of success on those who don't take action. I keep taking action but my coach won't help me. I received an overview of the topics, but I need a deeper understanding in order to explain it to potential investors.
The coaching program is totally unnecessary and I'm amazed that they are able to sell it to people and look everyone in the eye knowing its lackluster quality.
I should say, however, that there are multiple coaches within their program. Maybe I was just assigned to the wrong coach. What would my experience have been like if I had a better coach? That I'll never know.
What I can advise is that you should by all means attend the bootcamps. They provide and excellent fifty thousand food overview of the topics. However, DO NOT JOIN THE COACHING PROGRAM. You'll see for yourself at the bootcamps how they make it seem like the coaching students are part of an elite group. This is bolstered by the successful students who are promoted by Dave himself and asked to tell their stories on stage. Of course they promote the coaching program. I wonder if the successful students had Dave himself teaching them. I wish Dave was the actual coach.
You are able to ask Dave questions once a week during his Tuesdays with Dave phone conference. But that's it.
By all means, you should find a mentor. However, you need to make sure that you will be mentored by the mentor himself or herself. If you are just going to be assigned a different coach, be very wary.
I decided I wanted to cancel my coaching program. I still have some months left. When I called the office to cancel the program, their whole demeanor changed. They became very cold and blunt. Finally, I was able to speak with someone in charge. He told me that they don't give partial refunds. Of course not. Why would they? Once they take you're money, you'll never see it again. They don't care if you went into massive credit card debt for the coaching program and for travel to their events only to not learn what you need to.
They said they would place my coaching "on hold." I could pick up where I left off whenever I like. Why would I want to put it on hold? I called to cancel it. I never want anything to do with them again. They betrayed me. They made me feel like I needed them. I have never felt so scammed and hurt before. I hope this doesn't happen to any other real estate investors.
Lesson learned. When you find a mentor where the events are so commercialized, with bootcamps filled with a couple hundred people and so many signing up for coaching, think about the quality. Just because so many people are in their coaching doesn't mean that it's any good. It might be better to find a mentor who only takes a certain number of students at a time but where you can learn directly from that person.
Product or Service Mentioned: Re Mentor Seminar.