Can it really help turn you into a property-investing success?
Years back, I always dreamed of becoming some sort of property mogul. It seemed too good to be true. My property portfolio was gonna be huge, and I would just chill by my pool and count that sweet passive income.
As you’ve probably guessed by now—becoming that sort of property mogul isn’t as easy as I’d first thought. Go figure. But it was still the dream.
This was way before I started making a real dent with my own Local Lead Generation gig. More on that later.
The only real experience I’d had with anything close to this sort of biz was when I used to let buddies come and stay on the couch in my college apartment. It had a pretty dope location (close to all the bars and clubs), so I’d let them stay in exchange for pizza. Once, a classmate even wrote my term paper because I let him use the pad to impress some girl for the night. Haha!
This was way before AirBnB or anything like that. I know right—I was truly a pioneer.
Anyway, let’s just say I didn’t really understand the first thing about property investment, property management…. property anything. But I still had my dream.
So I’d been slowly going insane in my cubical-slave job. But at least I was building up a nice little deposit for a buy-to-let on the side.
This guy I knew called Colin (another cubicle-slave like me) had already leveraged himself into a handful of properties. Banks were lending to almost anyone back then. He was planning on “retiring” soon. You can probably guess how jealous I was.
But I was nearly there. I’d already started looking out for my first investment property.
What was that sound?
Oh yeah… that was the Global Economic Crash.
It was a bloodbath. Let’s just keep this kid-friendly and say Colin added a couple of decades to his intended retirement age. Ouch.
So I shelved my plans for a bit. Got back to being a wage-slave at my desk again. At least I still had a job, right?
As the years ticked by—I still had that dream.
Slowly, banks started lending again. I still had my deposit. It had even grown a little.
So I decided it was time to jump in and finally get that investment property. It was clearly going to be the first of many, right? Well…
You see, banks had tightened up their lending rules. That meant I couldn’t afford 15 times my income on a pad. More like 3 or 4 times. This restricted what I could get massively.
Only I remembered this old bit of wisdom I’d picked up somewhere:
“Buy the worst property in the best area.”
So I decided to be spontaneous. I went for it. My first investment property!! Woo!!
Okay great… But… I don’t think I’d done enough research.
Slowly, I started to realize that maybe I’d bought the worst property in the worst area. Oops.
I was even struggling to fill it with tenants. This was going to be a problem. In the end, I had to accept defeat and take a tenant that’d just about cover what I was paying.
This was supposed to be the first of many. I was gonna take the profit from this place and leverage it into an empire. But the property was barely paying for itself.
That’s when I phoned my uncle. He’d already made a nice wedge from the property market. His advice—sit back and let the property go up in value. Sound advice—except he lived in SoCal. It’s easy there.
I needed better advice.
I remembered hearing about this guy Phil Pustejovsky a while back. I didn’t know much about him, but I knew he ran this business called Freedom Mentor.
I did a bit of research and decided I had to try something. I couldn’t stay at this desk job forever. So I decided to give it a try.
At first, it was hard finding the right info about Freedom Mentor. I was searching for “freedom mentor reviews” and all sorts of crap was coming up. Things are a bit easier now, but I decided to write down my experience with Phil’s program in this Freedom Mentor review to help others who were in the same position as me.
What is Freedom Mentor?
Freedom Mentor is aimed at people just like me and you. Guys who want to get into property investment but still have a lot to learn. The great part is you don’t have to stump up a ton of cash to get started.
There’s a free book and course to take to get you initiated. There’s tons of good stuff in both these freebies. There’s a lot of info that seems common sense but I just hadn’t thought of. More on that in a couple of minutes.
But the real core of Freedom Mentor is the Freedom Mentor Apprentice Program. That’s where you get real one-on-one tuition and personal advice from Phil himself. Great, right? Sort of…
This looked great to me, but I was also a bit suspicious. There were loads of those too-good-to-be-true testimonials on the site. Plus this slightly worrying disclaimer about the testimonials that implied they might have been completely made up.
I don’t know why guys like this try the hard sell so much. They must have realized it puts as many people off as it convinces. Right?
Anyway, I wasn’t put off—because I knew the info I’d learned in the free book and course seemed legit. So I applied to be an “apprentice”.
How did it go? Keep reading to find out.
But first, you’ve probably got one big question…
Is Freedom Mentor a scam?
I remember the first thing I’d search for when I saw a new online product like this was “scam”. So I jammed “freedom mentor scam” into Google. Especially when I saw those testimonials. You’ve probably done the same.
The good news is that Freedom Mentor is NOT a scam. Phil Pustejovsky is legit as they come.
It’s not a scam. But it is expensive. We’ll get onto that in a minute.
The extra info you get in the Freedom Mentor Apprentice Program is even more legit than the stuff in the free book.
But the best bit is… wait a minute. This needs its own sub-heading.
What’s the best part about Freedom Mentor?
The best part about Freedom Mentor is Phil himself. It’s having an actual mentor. And one who really knows what he’s talking about.
The info and course material is great, but let’s face it—you’re not here for that. You can find plenty of good info out there, but having someone on call to actually answer your questions is what really helped me. It could help you, too.
With Phil around to answer my call or email, I quickly learned I’d been doing it all wrong. Best of all, I learned what to do right.
But it isn’t all roses and ice-cream. I’ve got a big issue with the Freedom Mentor program that I’m gonna lay out for you…
What’s the worst thing about Freedom Mentor?
I’m gonna say this as softly as possible. The worst thing about Freedom Mentor?
They take 50% of your profits!
I know, right.
There’s also a $3,000 up-front fee.
This made me want to walk right out the door. STAT.
But after thinking about it a bit longer, I thought I’d give it a shot. Just as a one-time deal. Phil better be worth it.
Did Freedom Mentor work for me?
Phil actually had some pretty good info about how to find cheap properties in my area: motivated sellers.
There are actually loads of obvious clues about how to find motivated sellers and how they’ll often be willing to accept way under market price for a quick sale.
He also hooked me up with some super-legit lenders who had a bit more leeway than the big banks. That meant I got a good deal on a buy-to-let mortgage.
This is where I started really learning how I’d made mistakes with my first property. Actually, I learned a few things that I could use to turn that place around, too. And I was keeping all the profits there.
I gave the new place a quick lick of paint and advertised an open house for potential tenants. This was such a good idea, I don’t know why I hadn’t thought of it before.
What are the keys to making your open house a success? Free food and alcohol!
Ok, so you’re not trying to get people drunk so they rent your place. It just helps set the ambience. Honest.
When you’ve got a few different people interested in your place, it does something crazy to them. They don’t wanna miss out. Even if they never really liked the property in the first place. FOMO in action.
And it’s a two-way street. It doesn’t just get people more keen to put a (higher) offer in. It let’s you vet your tenants as well.
Vetting tenants is really important. Picking the right people to live in your property makes them more likely to look after the place, and less likely to cook meth in the kitchen.
Now I’m not saying you have to do a full background check—but at least check they’ve got jobs.
Remember my old place? The first crap-heap I called an investment property? The stuff I learned with Phil even helped there as well. Now I’ve got better tenants and it’s even making me a bit more money each month. I’m on my fifth investment property now, and I’m looking to get more soon.
Oh yeah, I even started getting “back” into AirBnB lets. I know, it’s almost like my adult life had come full circle. Only this time I wasn’t getting paid in pizza and college papers. I was getting real cash.
I’ve just got one of my properties on AirBnB and the other sites like that. I like the guaranteed income that long-term tenants give you. Only the upside to AirBnB lets is great. I’m looking to get more.
This place is out by the lake so it’s the sort of pad people like that are looking for. I’m not sure how well an AirBnB in the middle of a housing project would work.
The great thing about this place is that you make a similar amount of money with roughly 50% occupancy. That means it’s free for you to use the rest of the year, yet you’ll still make as much as if you had people living there full-time.
The downside? You’ve got a bit more work to do in-between. Cleaning, key handling etc. There are people that’ll do this for you, but they’ll take a cut. It’s not completely passive income. And oh yeah—it’s a bit harder to get a mortgage for a buy-to-let like this. If you tell the bank the whole story, that is.
What else do you get in Freedom Mentor?
The main value is clearly in the mentoring (hand-holding) from Phil. You get 3 live coaching calls and 2 conference calls a week.
I actually thought this was a bit harsh. Come on Phil! I’m giving you three grand and HALF the profits on my property yet I can only phone you a couple of times a week?!
There’s also loads of other material including a lender database and all sorts of other useful info. Most of this was good, but some of it can be found elsewhere. Just letting you guys know.
Phil puts on a few live events each year. I made it to one, and had a good time. But is this worth $3k? I’m not sure.
Oh yeah… There’s one more thing
“Freedom Mentor” is NOT the same as “Your Freedom Mentor”. This almost tripped me up a few times. That’s some other IM rags-to-riches product. Confused? I know I was. And it seems like that other thing “Your Freedom Mentor” actually might be a scam. Oops!
So did Freedom Mentor really work? Yes. Is it really worth it? Maybe.
You should definitely check out the free stuff. There’s tons of good info in there. I was probably a bit naive in the beginning to think property investment would be easy. It wasn’t, but I got there in the end.
Remember, a lot of the info Phil gives out CAN be found elsewhere. Sometimes for free. You just have to know where to look. I only kept that one property with Phil, there’s no way I was going to give him 50% of the profits on the next few places. So I “left” the system.
I still ask myself whether it was worth it. He’s still getting half the profits from one of my properties. But the thing it—he really helped. Not just his info, but simply having a mentor to bounce ideas off.
So yeah, he’s still getting a nice chunk of passive income. But I learned some stuff that helped me expand my property “empire”. Hey, can I call it that yet? Come on, that was the dream!
I actually think that right now I would NOT recommend Freedom Mentor. But I change my mind on this on a day to day basis. After all, I probably wouldn’t have the property portfolio I’ve got now if it wasn’t for Phil and his Freedom Mentor program. But this was at a time when I just needed someone to hold my hand. Maybe you aren’t at that stage. Maybe I should have just asked my uncle.
I’ve also found that while the info was great, there are some other places you can find similar stuff. But you definitely need to check out all his free stuff, because there’s a lot of gold in there. And it’s free.
Being a property investor is great—but it’s an expensive gig to get into. That puts a lot off people off. I get that. Property is a big deal after all. But imagine if there was a way to own DIGITAL property, and you could get involved at a fraction of the price? There is, and it’s called Local Lead Generation.
I was stoked when I collected my first monthly rental income on my own slice of digital real estate. That’s why I’ve been helping spread the word about the number one online business idea today. Click here to check it out.
Maybe if I’d have found something like Local Lead Generation sooner, I wouldn’t have had to give so much money to Phil.