Hey everybody, David Nelly here with a thorough look at the Six-Figure Landlord courses. Will you retire in 10 years, or even less using the teachings and principles taught inside of Dallas Hileman’s Six-Figure Landlord Course, or is this another one of those pseudo guru dudes peddling cheap B.S scam artist material, hoping to get a few thousand out of your wallet by taking advantage of your ability to dream and have the imagination of escaping this 9-5 rat race that makes us all angry and miserable after we moved past our 30s because we can’t stand being present in life anymore?
There’s a better way to live than the typical rat race where you work a 9-5 job until you are 60 years old. In my opinion, that rat race escape business model is building an online affiliate marketing business, but Dallas is dead set on telling you it’s the Real-Estate game, which is why he created the Six-Figure Landlord Course.
Dallas retired at the age of 28. This is due to him having massive success in Real Estate, in only 3 years, starting at the age of 25, Dallas left his sales job that forced him to work 70+ hour weeks. He tells us that his job left him robbed of his energy, stressed out, and at times, even depressed. I know this feeling very well.
Now, he spends his time enjoying his life, doing activities like traveling, paragliding, and spending time with his wife and kid. Dan believes that with real estate, you also can build and design a lifestyle around the things you want to do with your life.
Dan’s real estate success allows him an income of over $100,000 per year in pure cash flow from a very minimal investment of time in managing his properties.
The Premise of the product:
-Name: Six-Figure Landlord
-Owner: Dallas Hileman
-Summary: Real Estate Investing/Self-Managing course that teaches you how to get into the real-estate game, how to hire mentors/realtors, and lays the ground rules on how to win in the real estate world.
-Opportunity Cost: Not listed
-Who is it for? People who are truly passionate about the world of real estate and want to take their knowledge to the next level.
-Our rating: Keep reading to find out
What Is The Six-Figure Landlord?
What is The Six-Figure Landlord, this is where I answer this question, but I give you the extended information because this is no longer an intro.
It’s a course with a huge library of content and lessons that explain how to be successful in Real Estate. It pretty much goes from everything A-Z in Real Estate including things like, how to get pre-qualified, how to find deals, how to negotiate, or how to find yourself a real estate agent who will negotiate on your behalf. How to find insurance, how to read a loan estimate, and as you can imagine, many other things as well.Six-Figure Landlord’s courses are all action based, so there is going to be work done on your end as well. As you can imagine, this is going to be a bit scary because, in a sense, Dallas is going to be giving you instructions that are going to require investments on your behalf, so unlike many other courses in other business models, such as affiliate marketing, for example, you are going to be investing potentially a large sum of money, and even going as far as asking for loans from your bank.
But I would imagine that you already have taken this into consideration if you are seriously considering taking a real-estate course and also seeking out a mentor, which essentially is what Six-Figure Landlord offers you.
In addition to the action-taking style of this course, you will also be assigned homework through what Dallas calls an action-based workbook.
Plus, Six-Figure Landlord also offers personal mentorship, and you can email Dallas Hileman or even schedule a zoom call with him to get any and all of your real estate questions answered. Dallas truly believes that one of the biggest mistakes that newbies make in their real estate journeys is not having a mentor, so Dallas wants to be that for you, which is why if you schedule a call and buy his course, he is willing to be that person for you.
Now, this is about the extent of the information I can give you for an inside look at the course, but I want to give you an overview of the free training and the free information Dallas gives you on the main page for Six-Figure Landlord.
In order to attain the ability to financially take on the real estate market, you must achieve Debt Freedom and Emergency Freedom. Then, you will eventually achieve the 5 phases of financial freedom through real estate. (He breaks down finances as if they are anime superpowers or something)
There are 5 phases of Financial Freedom. Debt Freedom, Rent Freedom, Lifestyle Freedom, Emergency Freedom, and Financial Freedom.
Once you have a solid financial foundation, you will have achieved Debt Freedom and Emergency Freedom. Dallas says real estate is the last phase to achieve your rent, financial, and lifestyle freedom.
I have no idea if this is true, but Andrew Carnegie said it, “90% of all millionaires become so through owning real estate.” so it’s probably true.
4 simple steps to buying your first rental property:
This was a big part of the free training that Dallas Provides on the closing page. There are 4 simple steps for getting yourself ready to aim and fire at your first rental property.
Step 1. Tune Up Your Finances. It’s all about increasing your income and decreasing your debt. Save some money, and reach a point where you can qualify for loans if you can’t already qualify. Dallas says that he has an entire module dedicated to this.
Step 2. Build your team. Akin to the famous teachings of the 4-hour work week by Tim Ferris, this course while mostly focused on the real estate aspect of things, does emphasize finding ways to delegate the necessary tasks that are worth passing off.
First and foremost, you need a mentor, one of Dallas’s strongest beliefs. In addition, you also need a real estate agent to help you find deals, a loan officer, and a lender.
Your mentor’s job is to instill confidence into you, give instruction and help you avoid mistakes, as well as review your first few deals.
Your Agent’s job is to negotiate, get you deals, and protect your interests, such as keeping you and your wallet safe.
Your Lender’s job is to give you advice, establish your budget, give you your pre-approval letters, and process loans.
Luckily, this system of finding your team is relatively simple, Dallas explains that connecting with your mentor is the biggest step, and this is because your mentor will seek out and connect you with your real estate agent, and your real estate agent will connect you with your lender. It’s all a trickling domino effect.
Step 3. Refine Your Search. This process is all about getting a crystal clear vision of the property opportunities that you want to seek out. Dallas breaks this process down by finding the answer to these 5 questions.
What condition are you willing to take the property in? There are 4 different classes of property. A class, B class, C class, and D class, and to summarize, A class is the best quality property around, the top tier, it can be a lucrative cash-producing asset because you can charge higher rent rates, but the consequence is that you will definitely have to pay top dollar to invest in it.
D class as you can imagine is the opposite, with low investment cost, however, low ROI as well due to low rent payments from the renters.
B and C classes are the middle tiers, a mix of both worlds.
Dallas recommends aiming for the B and C tiers of quality, and also makes an important suggestion to seek out buildings newer buildings, with the year 1978 being the oldest, and the reason for this is that in 1978, the way buildings were constructed was simplified, which means that repairs cost less, and are also less of a hassle to deal with.
Step 4. Find and analyze potential deals.
For finding deals, Dallas recommends using the MLS feed from your agent or using Zillow.
For Analyzing deals, use dealcheck.io and rentler for estimating rents. Throughout the course, Dallas will show you mathematical equations for making sense of this, as well as understanding the data sheets that come with it.
4 Deadly Mistakes to Avoid:
To keep you in the loop and to help you avoid as much damage to your wallet as possible, Dallas also gives an overview of what he believes to be the 4 most deadly mistakes in Real Estate Investing, and how to avoid them.
1. Not having a Mentor: While your real estate agent has your best interests in mind, they aren’t actually your mentor. The reason for this is because, at the end of the day, a real estate agent makes money by getting you, the investor to purchase, that is their job. Because of this, you aren’t actually getting an unbiased opinion from them.
A mentor will do that for you, they will give you an unbiased feedback loop, and with their experience, you’ll be able to learn the skills you need to become sufficient in the real estate world.
2. Over-Analyzing: This is a waste of time, being too detailed and trying to re-read the ad for the property serves only to burn you out. Not only does it burn you out, but before you know it, that property you were interested in is going to be bought out by another investor because you over-analyzed and twiddled your thumbs. Dallas makes a point that I remember well, you can always cancel, even after getting the contract.
3. Under Offering: A lot of investors are afraid to offer the seller more than what they are asking for. This concept may seem a bit foreign for non-entrepreneurs, we as a society love our Black Friday thanksgiving, but in real estate, the market is more like a car auction compared to trying to find the cheapest deals.
The reason why this is because, at the beginning of the contract hunting phase, the seller has the power in the relationship, they are offering something that investors are going to compete for to attain, the possibility of purchasing the property.
Every listing gets multiple offers, if you can’t offer more, someone else will.
Remember what I mentioned in mistake #2, you can always cancel, even after getting the contract. Instead of over-analyzing, and not being generous with your offerings, you should be focused on the coal of simply getting the contract in the first place. Once you have the contract, you can negotiate. Without a contract, there are no negotiations.
When you give a generous offer, not only are you winning over the ability to negotiate, but it also eases the tension, and the seller will be willing to be more flexible with you as well, and if things don’t work out, even if its last minute, you can always cancel. Offer high, and negotiate later.
4. Hiring A Property Manager: I don’t know what to make of this one, but this is what Dallas says. It’s a bad idea to hire a property manager. Instead, Dallas recommends self-managing, and claims that you can do this self-managing property job in less than an hour, in fact, Dallas owns 32 units and only spends about 3-5 hours per month managing them properly.
No one will care more about your property than you, that is essentially his reasoning for not hiring a property manager. Seems a bit sus reasoning to me but I will admit to you that I am not a real estate expert.
Public opinion overview on Six-Figure Landlord:
You of course have the testimonials that you will find on the course sales page. Every review rated 5/5 stars, saying things like how they all recommend this course and even recommend it to their clients. These self-hosted testimonials are never things that I take seriously when reviewing a product or service because technology has made it so easy to fabricate these types of things for decades now.
What I really look for is social media, and places like Reddit, Facebook, Quora, and others as well to see what people really think about a certain product or service.
And unfortunately, there is not much to be said about this course that I can find on Social Media. I browsed their Facebook page, and you’ll get the occasional commentator who’ll say something like “let’s go” on a random motivational post, but outside of that, there aren’t too many people interacting with or talking about this course.
This will take away from the overall score I will give this review, and the reason being is that I dislike that there is not really a place you can go to get an unbiased opinion regarding this course.
Review Conclusion for Six-Figure Landlord:
I believe that this course has a good chance of being exactly what you need to get into the real estate game, but I also believe that Dallas makes some claims that are a bit hard to believe, such as the fact that this guy manages 32 properties, and its all easy peasy, works less than 5 hours a week managing them, and essentially makes over $100K working around 6 hours a month.
I also feel that the lack of reviews from credible sources destroys the reputation a bit, you know, even studying this course and such for a good 5 hours while writing up this review, I still can’t tell if I would be willing to give Dallas a large sum of money and trust him to be my mentor if I had a burning passion to become a successful real estate investor.
I can tell from his free training however that he is clearly knowledgeable about real estate, and I do believe that his course will give some life-changing information, but I am just not sure that the course will pay for itself as he claims. He really puts this emphasis on making real estate investing seem easy and I don’t know, ya know, I don’t think you can just put some managing system in place to where you could spend like, less than 6 hours a month and make $100K on autopilot.
Seems a bit far-fetched to me.
Another couple of things that make my skepticism rise as well is that there’s no indication anywhere of what the course costs. I understand that you gotta book a call to find out, but I don’t really want to talk to someone for 45 minutes if the only thing I want to know is what the course costs.
In addition to the course cost, just how much money am I going to have to invest in order to not only have a mentor, but also a real estate investor and lender working for me, on top of what will probably be an insane amount of money I would have to provide to invest into the properties.
Now I’m not saying that this course won’t work, and I’m not saying that real estate is a bad way to try to get rich, but what I am saying is more of a pondering question for you to reflect on. Is this Dallas Hileman guy really the best route to attempting to achieve real estate success, and is real estate right for me?
With the lack of public opinion on Dallas Hileman available, I would say it would be a better idea to start with a different mentor, perhaps with someone who has positive feedback outside of the sales page testimonials.
If you are dead set on real estate, I’d recommend checking out my last review, which covered Justin Colby’s The Science Of Flipping Course.
Otherwise, if you want to play things more on the safe and relaxed side, and build something that can create passive income without all of this “wheeling and feeling” and gambling large amounts of money that might not have an ROI, then I highly recommend checking out my favorite business model, and the one that I’m the most engaged in, Affiliate Marketing!
Six-Figure Landlord gets a…
While I’m not overly enthusiastic about Six-Figure Landlord, this course is David Nelly Approved!
And this concludes my review, hopefully, you learned something, or if not, then I hope I at least gave you something to think about. As always, if you have any questions regarding some sort of financial course, or make money online type of opportunity, always feel free to leave a comment below or an email to me at email@example.com
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