Lifestyles Unlimited Workshop Reviews

L

Leonard87

New member
Are there any Lifestyles Unlimited members out there? I’ve had success investing in single family homes on my own but I don’t have the funds to take on the bigger more profitable projects and take myself to the next level. I’m 35 now and the dream would be to live off passive income in ten years time so I’m not expecting miracles. I’ve looked at Lifestyle over the years but their nearest seminars have always been too far away for me to attend, plus I’m not really a “networking” kind of person. Now I see they’re offering online seminars because of Covid. But I don’t want to get caught up in a hard sell.

Can anyone confirm the membership fees (can’t find it on their website) and whether the benefits are easy to access and actually useful. Also some advice on whether remote membership without being able to attend meetings will be worthwhile. Thanks!
 
K

kamron99

New member
I was a premium member in 2015, I think I paid $18,000 to join. It was a waste of money. They don’t teach you anything you can’t learn elsewhere for free. If you identify a property you have to tag it and if another member has tagged it before you they get it. The high potential areas are oversubscribed. I found the meetings were useful for networking but you have to be smart about who you spend time with and know what you’re looking for (and what services cost outside of the group.) The mentors all seem to be real estate agents who get commission on sales.
 
violethenry

violethenry

New member
I’m a financial freedom program member, I paid $500 and own two SF homes which give me $900 passive income a month. Before joining Lifestyles I knew nothing about real estate and I would never have been able to do it without LS. They also tell you how to ensure your RE gains are tax free. I am currently looking into making use of the CARES Act to cash out my 401k and invest in my first MF as a passive investor. Normally there is a 10% penalty on cash outs before you’re 60 but that’s being waived for 2020.
 
L

Leonard87

New member
violethenry violethenry – thanks and congratulations. I’ve only ever flipped homes in the past. I wouldn’t say no to an extra $900 a month but that and the examples on the website seem like quite low returns (although obviously I don’t know what the purchase price of your properties were.)

It just seems if you have a major expense like a replacement aircon that must severely impact your cashflow for the year. I’m also nervous of rentals in this market – so many people left unemployed. How are they going to make rent? Tax free gains also sounds a bit too good to be true – have you actually experienced this personally? I’m not a CPA but I have a good friend who is and he, like me, is very skeptical.
 
V

Venom_Stone1966

New member
I’ve been a lead and a passive investor with LS for almost 5 years. It’s worked for me but the system is not for everyone. You have to be ready to take action and as a passive investor you need to understand your money can be tied up for a while without you being able to access it. It’s not a get rich overnight scheme and you have to apply your mind and be prepared to listen to advice. If you follow it properly you shouldn’t lose, you might just not make as much as you hope sometimes. I’m based in Houston but we have passive investors from all over the country who don’t attend meetings. It’s easy enough to Skype call if you want a face to face.

I think I can shed some light on the “tax free gains” – the LS model is to develop a portfolio of rental properties that can be left to your heirs. The property is stepped up to current market value on inheritance and so the capital gain accrued in your lifetime is effectively tax free. (But death taxes still apply so run everything through your CPA.) LS doesn’t tell you that capital gains on flipping are tax free but many of the members don’t understand the distinction in my experience which is why I say you need to apply your mind to understanding what’s being said.
 
cameron barrett

cameron barrett

New member
I attended a Lifestyles free seminar last year. It wasn’t for me. I think a lot of people get caught up in the hype, pay for their membership and then never use it. I’ve worked too hard for my money! I was contacted a couple of times afterwards and had to be quite rude in order to terminate the conversation.
 
Top