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Questions About the Real Estate Club
What’s New Wealth Advisors Club’s mission statement?
New Wealth Advisors Club is a group of people committed to empower and encourage all people to realize their core purpose in life. With this realization, we believe everyone can live an inspired life – full of enthusiasm – as they in turn inspire others.
How did this New Wealth Advisors Club come together?
When the founders, Dave and Melina Boswell, decided to become real estate investors, they went to several “guru” and educational companies. In that journey, they received a lot of good information, but realized that the one thing they needed and were missing were other people to work with and be coached by. As a result, they created the club, which got its start with the mission statement. Although they have faced much adversity in the creation, they’ve chosen to stay true to the vision and core beliefs, always putting people before a transaction or payday.
What exactly will I be doing or where do I fit in?
As a real estate investor, your main goal is to find motivated sellers. New Wealth Advisors Club will teach you the different lead sources we utilize to locate them. You can do this from anywhere you choose. There is no need to be at our office. We occasionally have offices available to rent, if and when this makes sense in your business.
What if I’m not a good fit, or want to cancel?
If you’re not happy or find that this business is not for you, New Wealth Advisors Club has a money back guarantee. What’s the catch? Simple: At the conclusion of Day 1, Day 2 or Day 3 of your initial training you must request a refund in person. All monies paid will be refunded LESS $100 cancellation fee. At any point after you attend the initial training, you can cancel your membership without any further obligation.
Can we just meet 1 on 1?
Unfortunately, that is not possible. Here at New Wealth Advisors Club we have created a system that works well. We’ve learned that a key component in successful business is having systems in place that allow for more efficient and effective use of time. As such, all prospective members of the club must go through the system, starting with a club introduction, followed by the 3-day initial training and then the regular monthly club meetings. We find our members grow best by engaging with a number and variety of other club members, rather than just 1 on 1 meetings.
I don’t really need the training. I just need money.
You are welcome and encouraged to work with several investors within New Wealth Advisors Club. Anyone who has ever had any success in business realizes that the true key lies in relationships. Our club is based on the premise that relationships are the most valuable tool in your business. This is why we have so many members experience such extraordinary success. Individuals just looking to lend money are not going to walk around the club advertising that they have money to lend. If you just need money – Google “hard money lenders” and skip coming to the club.
Is this club exclusive or can anyone join?
New Wealth Advisors Club is not open to the public. Someone in good standing inside the club must vouch for you to be invited to a free club overview meeting.
What type of classes/training do you provide?
Classes and training change as the market changes. Currently, advanced curriculum classes are: Real Estate Foundations, Short Sales and Distressed Property Acquisition, Tax and Legal Class, Self-Directed Retirement Class, Probate, Creative Acquisitions, Fix n Flip, Buyer Beware, Buy and Hold and Small Group Mentoring and Field Training. Theses classes are not included in your club membership. There are additional costs for any advanced classes in our Partner Curriculum. On Saturday afternoon, the Co-Founder, Dave Boswell, will go over the additional courses available for approximately 1 hour. If you choose to enroll in additional classes, you will be required to demonstrate you have the ability to take these classes. We don’t automatically allow individuals to sign up for additional classes.
Do I pay the same price every year to renew?
Yes. The renewal each year is $500. Renewals are not automatic. There is a renewal application process each year. Renewals are approved based on members that are active in the club vs. members that are less active.
Can I do this on my own after training?
We believe in true entrepreneurship! We encourage and celebrate club members that have success on their own. We have members that have created successful businesses from Hawaii to Northern California. After your initial training, you will not be able to do this on your own unless you have come with significant experience already. In the first 3 days of training, you cannot expect to learn any single real estate strategy in its entirety.
Are there any hidden fees that need to be paid after joining?
There are no other fees to be involved in the club. Any other monies you would need to spend would be in running your business i.e., business cards, advertising, car related for driving and looking at properties, any services for providing data for leads etc.
How do I know who I will work with - how does that work?
You are welcome and encouraged to work with several investors within New Wealth Advisors Club. Anyone who has ever had any success in business realizes that the true key lies in relationships. Our club is based on the premise that relationships are the most valuable tool in your business. We believe this is why we have so many members experience such extraordinary success.
Do I have to drive to Riverside?
Yes, your initial trainings and New Wealth Advisors Club monthly meetings are held at our office in Riverside. In addition, we have our LA County, Orange County, San Diego County, Riverside County, ‘Mastermind’ meetings at a satellite location within that county.
Are the advanced courses required?
Absolutely not. The classes are available to members when and/if they choose to take them. Everyone is different and has different needs. We don’t sell classes just to sell classes. Classes are offered to individuals looking to get educated by investors that are teaching what they do every day. Certainly the classes will help you in your business; however, they are not required to be part of the club. The club also reserves the right to not allow people to purchase classes. At the initial 3-day training the classes are introduced for 1 hour only on Saturday. On Sunday, new club members are given a one on one meeting to discuss their business strategy moving forward. At that point any classes the member would like to enroll in can be discussed. The classes are not free and we want to make sure people are making wise decisions for their families and never want people to make an emotional decision on the spot.
Does NWAC offer any personal development?
The club meetings often times have some type of personal development in them. We believe people want to work with people they like. They don’t care about how much knowledge you have; they want to know how much you care. You need to be able to connect with people. Developing yourself as a person will help you be able to accomplish that.
Do I need to have real estate experience to join the club?
No, you do not need to have any experience to join the club. In fact, many of our most successful members had never touched a real estate transaction until joining our club.
When does my membership start and end?
Nine to ten times per year the initial 3-day training is held. Memberships start the 1st of the month following your initial training. You then have 12 months of training/meetings you can attend included in your membership. For example – you attend training in December 2016; your membership would begin February 1st, 2017 and run through January 31st, 2018.
What is included in the club membership?
- Initial 3 Day training Friday-Sunday 9am-6pm (ability to repeat this training up to 3 times per year)
- Over 36 different club events, including monthly trainings, master mind meetings, and other networking opportunities throughout the year
- Ability to add another household member to your membership for 50% off
- Various opportunities to be involved with charities, club parties, gatherings etc.
- Membership in the club’s closed Facebook group
Questions About Real Estate
Can I get funding for my deals?
The club is not designed for people just looking for money. If someone has a potential deal and just wants funding, they should Google “hard money lenders” and look to get qualified with them. The club’s philosophy is for individuals to focus on creating relationships with other members (often more experienced investors work to help the new or less experienced) and participating in joint ventures amongst themselves to work on various resources needed to complete deals. The club does not provide access to any funding or capital as it does not participate in any real estate transactions or related activities.
How much will I make on a deal?
Once again, there are no guarantees on any profits on any future deals. All deals are different and all deals are dealt with on an individual basis. The club doesn’t do real estate so all deals are between individuals. The club never participates in a real estate transaction. Any profits or percentages of profits are between individuals.
How do I make money?
In today’s market, we believe the best strategy is simple, quick transactions; meaning, fix and flip properties, and/or wholesaling. Our motto is get in, get out, get paid. Every potential deal is different. You control your destiny. The club never gets involved in partnerships or join ventures.
Does the club teach strategies outside California?
No. We focus only in California, due to our belief that you need to know your market intimately before you buy in another state. Some members live in Nevada, Arizona, Idaho and Hawaii. They have taken the strategies learned at the club and done deals in their states. However, the club doesn’t teach the rules and laws related to outside of California.
What about the contracts?
We have attorneys and realtors that we use as part of our team. Contracts are never a stumbling block to getting transactions completed.
Do I have to have capital?
99% of the time real estate deals are going to require capital to fund them. No-money deals are few and far between. While you don’t need to have the capital, you will need a plan to get funding from somewhere. Frequently, individuals in the club joint venture amongst themselves. New Wealth Advisors Club doesn’t participate in real estate transactions or provide funding. However, inside the club many individuals have funded their transactions in various ways, including: private money, hard money, self-directed retirement accounts, credit, 401(k) loans and their own checking accounts.
Do I need a Real Estate License?
No. As a real estate agent you are acting on behalf of someone, either a buyer or a seller. As a real estate investor, you are representing yourself and thus, you do not need a license.
How long will it take me to do my first deal?
No one can tell you this. Anyone who ever guarantees you something related to when you will close a deal or give you guaranteed profits or results – RUN! And run quickly. Real estate investing is just that – investing. It has risks. Just like any other investing. People join the club and quit before they ever get started. Some people have signed a deal in 30 days and others have been part of our club for over a year or more and still have not completed a deal. Every person is different. Everyone’s life is different. Some people work on their real estate investing full time, and others part-time. Our advice is to look at the most successful investors, meet them personally, and create relationships with them. Don’t look for excuses by looking at someone else’s circumstances. Surround yourselves with the most successful people.
What will I be doing every day? Do I have to come to the office?
As a real estate investor, your main goal is to find motivated sellers. We will teach you the different lead sources we utilize to locate them. You can do this from anywhere you choose. There is no need to be at our office. We do have offices available to rent, if and when this makes sense in your business.
I’d like to work for you; what positions are available?
There are no jobs at New Wealth Advisors Club. Volunteers run the club. Any relationships with individual investor(s) would be addressed on an individual basis. They run their businesses so any job related questions would need to be directed to them.
Will you be my mentor or whom will be?
This is always an individual question. Everyone in the club runs their own businesses. As a club, mentoring is offered in the advanced curriculum but it is discussed on an individual basis.
What kind of like-minded individuals are a part of this group?
The founders pride themselves on running a club free from drama and look to have a healthy environment. This is not to say people need to be perfect but a drama-free club is centered on good communication. When issues arise, they look for individuals to handle them and seek restoration. When a group of people is committed to empower and encourage all people – the atmosphere is extremely powerful. Character, good morals, ethics, integrity and commitment are a must to fit in around here.
How does the club offer support once I get started?
Support is fostered through relationships. Relationships are built at each of the trainings/meetings. The members who stay connected tend to have the most success; largely due to the fact that they have opportunities to foster and build relationships. Lasting relationships are reciprocal.
What can we get from the club that is different elsewhere?
There is plenty of information on real estate investing out there, and most of it is good training. The real difference we see in our club is that we are local investors, working in our local market. We aren’t sending you across state lines for training. We are training you in what we do day in and day out. Our curriculum changes often based on the changing market we are in today. This kind of hands-on training is unique and valuable.
I work full time; will I need to quit my job?
Very few people have ever joined this club and started full time working on their new business. The vast majority of successful investors have started their business while working a full time job. It is likely to take some time before you see any profit from deals. This business will not yield you income over night, so maintaining your lifestyle is crucial to your success. You cannot do this business and replace your income immediately. We believe you cannot do this business in a state of desperation as well. Plan to work your new business on a part-time, consistent basis.
Don’t so many people create a lot of competition for myself?
The philosophy of New Wealth Advisors Club is from a space of teamwork. In other words, just because someone is trained doesn’t mean they become competition. A trained person with a like-mind and of sound character makes for a great business partner. No one wants a partner that knows nothing. We live in one of the most densely populated areas and real estate is in abundance.
What makes this club different from all of the others?
Entrepreneur investors drive the club. Realtors and brokers run a lot of real estate investment clubs. The biggest difference is the club founders do real estate investing and then teach what they do day in, day out.
Are there any online videos or testimonials I can view?
Yes! Of course. Go to www.youtube.com/NewWealthAdvisors. While you are there, subscribe to the channel and stay up to date with the most recent posts. Search Facebook for New Wealth Advisors Club fan page. Or go to www.yelp.com and search for New Wealth Advisors. Don’t forget to subscribe to the podcast via iTunes as well. Search for New Wealth Advisors Club Flippin Off to find the latest one.
Is New Wealth Advisors Club involved in any charities?
Yes. In true alignment with our mission statement, we have taken on many causes as a club. We maintain have a year-round food drive for our local homeless shelter. We made a promise years ago that our pantry would not go empty, and have stayed true to that promise since. We have participated in diaper drives, toy drives, and crib drives for Riverside Life Services, a non-profit organization that serves women in crisis pregnancies and birth.
Co-Founder, Melina Boswell, volunteers to serve on the board of directors for Path of Life Ministries in Riverside, California. Path of Life Ministries is a dynamic group of community-minded individuals serving the city of Riverside since 1998. POLM has become a premier non-profit service agency committed to serving the greater Riverside homeless, challenged youth and family population with the goal to rescue, restore and rebuild lives in our community. One of their core guiding principles is grounded in partnering within the community. POLM has accomplished this by extending their services with local collaborative partners, other providers and support agencies. This contributes to a holistic, community-based solution that improves the social, economic and spiritual health and vitality of the poor, homeless, at risk youth and families. Path of Life Ministries addresses significant barriers of dysfunction with people in crisis including children and families. Families are met first at their place of largest need with food, shelter and stabilization services; the rescue point. Next, the process of restoring and rebuilding begins through compassionate case management, housing, health care services, community resources and wrap around services that are provided to promote self-sufficiency and family restoration. Visit their website at ThePathOfLife.com for more information.
NWAC is proud to be a sponsor of POLM and its mission to rescue, restore and rebuild the poor, homeless, at risk youth and families. As a club member, we encourage you to actively participate in furthering this massive undertaking.