Legacy Family Mastermind is a support program for real estate investors that was launched by Tim Bratz through Legacy Wealth Holdings, a real estate investment company. It essentially acts as a board of directors for your business where you get mentored by industry leaders in marketing, operations, and more. The group offers summits, daily coaching, networking opportunities, and access to the Commercial Empire Deal Flow software, a nationwide lead pipeline of commercial properties, and the Legacy Wealth Academy, a digital library of masterclasses taught by entrepreneurs from different fields. But is it all worth it if you’re a beginner?
If you think that a mastermind group can provide you with industry knowledge you can’t find elsewhere, I suggest you dig deeper. Because you don’t want to spend thousands of dollars only to realize that there’s free information around. However, looking up a broad field like real estate, it will get complicated if you don’t plan your learning progress. Otherwise, I would suggest investing your time and money in a simpler business, like local lead generation.
Local lead generation is a business model where you connect local businesses to their paying customers. When local businesses struggle with marketing, advertising, and competing with industry leaders, your business becomes a key factor in their success. More leads they get from your site means more money in your pocket. And for each online property you rank and rent, you can make $500-$2000 per month. It is digital real estate that earns passive income that’s easily scalable, with less competition compared to real estate.
Legacy Family Mastermind Pros And Cons
Pros
Tim Bratz is passionate about business education as evident from his Little Legacy Library that offers business and financial education for kids.
Legacy Family Mastermind is complete with all the coaching and programs offered by Legacy Wealth Holdings.
You get to learn about the systems and processes of a high-value company which you can apply for your business.
Through Legacy Family Mastermind, you can connect with investors, private lenders, and opportunities that can allow your real estate business to grow.
Cons
Legacy Family Mastermind is an expensive mastermind group.
If you’re a beginner, you’re better off looking for free resources or those that are priced reasonably, as you can lose money if the group’s resources are not applicable to you.
Third-party reviews say that Tim Bratz is inconsistent with his metrics—a reminder to do your due diligence before investing in his offerings.
Price
Legacy Family Mastermind costs $3,500 for the initial membership and the first month’s subscription and you get billed $1,000 monthly.
Refund Policy
Legacy Family Mastermind offers no refunds.
Origin
Legacy Family Mastermind started in 2021.
Reputation
Legacy Family Mastermind claims to be the #1 in the country, but there are mixed reviews available on BiggerPockets.
Are Mastermind Groups Worth It?
Mastermind groups are worth it if joining one will bring value to you and will help you achieve your goal as an entrepreneur. Since these groups can cost $500 up to $100,000, or more, annually, make sure that they’re covering the subjects you’re interested in. With Legacy Family Mastermind, you’ll be spending $12,000 annually plus a $2,500 one time membership fee. There is no point in joining a real estate mastermind group if you are a beginner and are still not sure what business to invest in.
What Do I Get In The Legacy Family Mastermind?
Legacy Family Mastermind Summit happens 3x a year, and being in the mastermind is your ticket to these social events. Previous locations include Nashville, Austin, Las Vegas, San Juan, Denver, and Walt Disney World. This event can be an opportunity for you to start conversations and relationships with other members, coaches, mentors, and Tim Bratz himself.
Daily Boardroom Calls with the Board of Directors happen in the private Legacy Boardroom Calls Facebook group. This is a space to learn and consult with their team on topics like acquisitions, marketing, operations, raising money, building a team, and more. Here is what happens on the daily:
Nick Burton will answer questions about marketing, underwriting, negotiating, contracting, due diligence, and more. He finds and negotiates properties and maintains communications with sellers throughout the entire process within Legacy Wealth Holdings.
Operates thousands of units within Legacy Wealth Holdings, and has built all of the SOPs and Property Management Division. He has experienced developing and operating one of the largest residential property management companies in Cleveland. He is considered the “integrator” who focuses on turning projects into high-performance assets.
Matt Carlin is the best person to ask about operations, project management, property management, asset management, standard operating procedures, value-addition process, key performance indicators, and team management.
Fadi Boumitri’s primary duties include strict adherence to SEC regulations and guidelines, as well as investor relations. He educates investors on upcoming deals, keeping them informed on active deals they have invested. Being an attorney that has raised over $50M in private money, he is the best person to learn about raising capital, marketing, deal structure, operating agreements, staying SEC compliant, securities documents, business law, contract law, tax law, landlord-tenant regulations, partnerships, and joint adventures.
Scott Hanis is the best person to consult about building a team. He ran HR for private equity firms with over 950 employees. Most questions you can ask are about team building, building core values, organizational charts, KPIs or SMART goals, hiring, firing, employee benefits, team management, and anything HR.
As described by Tim Bratz, you can learn about business growth and strategies he has applied in Legacy Wealth Holdings. This also includes finding your vision, leadership, team building, alternative asset classes, marketing and sales, social media, developing yourself as an entrepreneur, and even authoring a book. Otherwise, a special guest speaker will be invited over for members to learn from.
The Private Facebook Group is stacked with resources from mentors and coaches, and the recordings of daily calls available for those that couldn’t make it to the live one. Tim Bratz mentions that the members of the group come from different fields including, but not limited to:
- Trucking Businesses
- Publishing Companies
- Contracting Businesses
- Marketing Businesses
- Private Money Lenders
- Equity Investors
- Venture Capitalist Groups
Networking with these people can give you technical and tactical knowledge to help build your real estate business.
The Vault gives you access to their SOPs, checklists, offer templates, calculators, investment summaries, PowerPoint presentations, template of Tim Bratz’s JV operating agreement ($8,400), template of securities documents ($15,000), credibility kit template, and more.
What Is CE Deal Flow?
CE Deal Flow is a deal-finding software. You get a platinum plan, which costs $2,995 annually, where you’re served 60,000 lead exports at a nationwide coverage with unlimited exports to direct mail and skip tracing. Properties you can get range from apartments, commercial buildings, office spaces, and condominiums, all the way to farmlands, ranches, manufacturing warehouses, hotels, casinos, and more.
This software allows you to filter through millions of nationwide commercial property leads, learn about investment opportunities by accessing property details, and start a marketing campaign from inside the search tool. Lead types include cash buyers, foreclosure activity, delinquent tax activity, high equity, low equity, potentially inherited, and more.
What Is Legacy Wealth Academy?
Legacy Wealth Academy is a digital library of masterclasses taught by entrepreneurs that discuss wealth building, commercial real estate, residential real estate, ecommerce, cryptocurrency, starting and scaling a business, wealth preservation, and entrepreneurship, and more. But if you want access to this without having to spend thousands of dollars, you can get this for $9.95 per month.
Who Created The Legacy Family Mastermind?
Tim Bratz created Legacy Family Mastermind as a space for real estate entrepreneurs and investors to network and share information while providing value to the entire group. He is the CEO and founder of Legacy Wealth Holdings, a real estate investment company that acquires distressed properties and turns them into high-yielding assets.
Tim Bratz started off as a real estate broker. After getting into wholesaling, which got him into flipping houses, he eventually started flipping apartments and was getting bigger and bigger deals and properties per transaction. He then scaled up his business into commercial real estate and has continuously worked on bigger projects, achieving over 4,000 rental properties in his company’s portfolio that’s valued more than $400M.
Throughout his real estate journey, he realized that only three things mattered: finding deals, raising capital, and keeping operations dialed in.
Is Legacy Family Mastermind Worth It?
Legacy Family Mastermind is worth it if you are looking for a group that can give you support in reaching your real estate business goals. Tim Bratz is an experienced real estate investor that has done real estate wholesaling, retailing, rental units, buy and hold operations. However, if you’re looking for a passive income generating business that you can do in the comfort of your home, while you travel, or anywhere in the world, I highly recommend getting into local lead generation.
Do Mastermind Groups Work?
Mastermind groups work if the value they deliver helps members succeed in their businesses. They can fill the gaps in your knowledge and connect you with people from different industries and different backgrounds. By doing so, you learn about different perspectives and challenges from people who have been through what you’re trying to do. The purpose of a mastermind group is for members to scale their own businesses while helping each other along the way.
5 Advantages Of A Mastermind Group
5 Disadvantages Of A Mastermind Group
Why Is Local Lead Generation Better Than Real Estate Investing?
Local lead generation is better than real estate investing because it has a low cost and high returns, you can scale faster, and there's a lot of passive income potential. Whereas real estate investing is harder to get into because of funding, you have high investment costs with uncertain returns, and the market is susceptible to turbulence coupled with competition.
The real estate landscape is competitive. The cheapest option is REITs which can start at $1,000 to $25,000, and it will only grow higher or lower depending on market performance. While investing on rental properties averages $100,000 or more. On the upside, local lead generation only costs $500 for your initial startup cost. You put down $15 annually for the domain and only pay $25 to maintain the site. From this, you can earn 5-6 digits in revenue per month and you'll thank yourself for choosing a business that gives you time to spend on more important things.
