Real estate investment is a high-risk, high-reward business. As Andrew Carnegie said, “Ninety percent of all millionaires became so through owning real estate.” With many people trying to get into real estate, the demand for mentors and training courses has soared. This is where people like Peter Conti thrive.
Who is Peter Conti? Are his courses and programs legit? What do people say about him? In this Peter Conti review, we will follow the man’s journey to becoming a millionaire, go through his current programs, and look at his previous ventures to see how they performed.
We can draw similarities between commercial real estate and local lead generation business models. With commercial real estate, you rent out space to businesses, while with local lead generation, you rent out your digital space to local businesses. Local lead generation comes without the risks and hassles of real estate, such as the need for high capital, legal regulations, etc. Check out Local Lead Generation if you want to know more about this passive income model.
Who Is Peter Conti?
Peter Conti, from Annapolis, Maryland, has been a real estate investor for over 30 years and a mentor for 25. Mostly know him as the co-writer of Commercial Real Estate Investing For Dummies, he was formerly an auto mechanic before deciding to try his hand at real estate. With $1,500 in the bank, he became a millionaire in 3 and a half years.
After buying a tape by mentor Tony Robbins, Peter started his real estate journey in 1990 and purchased a duplex using other people’s money. This allowed him to send his two daughters to college, and he has been flipping properties ever since.
Peter started mentoring in 1997 with Mentor Financial Group, LLC, alongside Jerry Norton. He has since taught over 12,000 clients through various programs. Peter wrote many books, mostly about real estate. He runs a semi-active blog that posts real estate information and has a rarely active YouTube channel that has 1.11K subs.
Pros and Cons of Commercial Dream Partner
Commercial Dream Partner is Peter’s current and most recent program. Peter claims this mentorship has no other coaches and he will do all the coaching. The program teaches you how to flip commercial properties using other people’s money.
Pros
Peter Conti has been in the business for over 3 decades.
Peter Conti is the direct mentor.
2 weekly live calls.
Cons
Peter Conti and his previous programs and business partner have questionable reputation.
Refund needs qualification.
No other mentors. If Peter is not available, you have no other alternatives.
Price
$1,997 or $790 for 3 months.
Refund Policy
Qualified 90-day refund policy by completing the 90 day challenge.
Why commercial properties?
Commercial property investment, as taught by Peter, offers high returns. Just 1-3 commercial properties can have you set for life. Commercial properties often have 100% occupied rents at market rates and 56% occupied rents below market rates. This makes commercial property deals more lucrative than residential properties. Commercial properties are also less susceptible to outside forces that affect the market, such as the COVID-19 pandemic.
Who Is Commercial Dream Partner For?
They target the Commercial Dream Partner program at two kinds of people:
- For new real estate investors who have no capital to fund deals.
- For experienced real estate investors who are looking for a framework to move into commercial properties.
What Do You Get With the Commercial Dream Partner Program?
The mentorship program comes with a 90-day challenge in which they encourage you to send at least 30 offers. As a partner, you will have access to all available training materials, software, and resources. These include:
The main 6-week program with 2 modules each week. This program teaches you ways of finding funding for your deals, such as private money syndication, creative financing, owner-carry financing, taking over existing financing, etc.
You will also learn the 3 creative financing secrets:
Find unlisted properties (no brokers) for class C apartments (25+ years old). These off-market properties are best for finding the best deals.
Find properties that have problems with them. People with problems (inheritance they don't want, money issues). Tips for a lower down payment, such as including a repair allowance, to argue for a lower down payment (get an estimate from a contractor). Raise rent in order to cover the payments. Rent out storage space for extra income.
Set up automation by using tools like Commercial Investor Pro that will help you get further and faster.
By inputting leads into the software, emails, texts, and ringless voicemails can be sent straight through the platform. The software also has an AI reply option that can reply using positive intent to base a response and with a slight delay to appear lifelike. It also comes with an automated calendar tool to schedule calls at a time that you choose.
They also packaged Commercial Investor Pro with Property Advisor Plus, which is integrated into the software. By entering details such as market rents, asking price, etc., the software will give you the right offer price and how-to on how to structure the offering. It will also email you a legally viable commercial contract that’s filled out using the information you provide, then use Commercial Investor Pro to email the contract to the broker or seller.
You can access all the agreements and contract forms needed in this library.
Access to 3-day live training once a year for VIP clients held in a 5-star resort.
How to use a VA system to save money and keep the business running at all times.
1 year of full access to specialized software that makes everything run seamlessly.
A masterclass on how to find, negotiate, and flip commercial properties. How to buy from wholesalers and use bird dogs to find properties.
A recorded 3-day live event that shows you how to access networks of investors.
How Do You Make Money With Commercial Dream Partner?
The program teaches you the 3 systems to generate passive income through commercial real estate investing.
- System 1
Use the automated assistant to locate cash-flowing commercial properties for you 24/7. Use automation to dig up “lazy landlord properties.” Use Commercial Investor Pro to automate emails and scheduling. - System 2
Apply tricks to uncover a commercial seller's true motivation, saving you lots of time. By requesting specific information about the property, you will base your decisions on that information. Use Property Advisor Plus, which is integrated with Commercial Investor Pro, to come up with the right offer price and generate filled-up legally viable commercial contracts.
Set up follow-up campaigns with Commercial Investor Pro for rejected offers that send the same offer in around 3 months. This is how you make sure you only deal with motivated sellers. Maximize your time using the "rapid offer method," in which you send at least 10 offers an hour. If a seller meets you halfway between the listed and the asking price, then they are motivated sellers. - System 3
Use the "inspection trick" to lower the down payment. Use private money syndication to bring in outside investors for funding. Join the investor network group available with the program. Use what you learned in Commercial Lease Options training to structure your creative deals. Take advantage of 2 live team calls a week, which is also recorded for playback.
Creative financing is one of the best ways to fund your deals. You will learn 3 secrets to creative financing:
- Get unlisted or off-market properties. These properties have no brokers, which will allow you to structure creative financing deals. Target class C apartments for the highest returns.
- Find properties with problems. Properties with people issues (inherited unwanted property, money problems, etc.) or unit issues (damages, location problems, etc.) may help lower down payment and price.
- Use Commercial Investor Pro to automate the calculation of the numbers and structure your deals.
Does Peter Conti's 5 Day Commercial Property Safari Work?
You can access this program for free by creating an account with your email address. The free course is basically an overview of what you will learn on his main mentorship program. You will receive a lot of sales pitches to sell you the softwares used by his students.
The 5-day challenge is basically a short training program compressed in 5 1-hour training videos that encourage you to practice sending deals in a “test” area. The intro video is basically a pitch for selling Commercial Dream Partner.
Learn the process of how to find, analyze, and make offers. The lesson focuses on dealing with class C apartments. It teaches you 10% of the skills you need to get accepted offers.
You will learn the property types
- Branch 1 - Of-market, unlisted or not yet listed, and for sale by owner (FSBO) properties.
- Branch 2 - On-market listed properties that have brokers.
5 resources (tips):
- Scripts for Email & Social Posts PDF
- 2nd Phone Line Resources PDF
- What's Your Number PDF
- Peter's New Book: Only When I Step On It
- Where to Find Properties PDF
You will learn the evaluation criteria to know whether you should pursue a deal or pass and move on. Try to avoid on-market properties as brokers overprice the properties. Peter suggests you stick to finding 5-50 unit C-class apartment units. Such apartments have done well during the pandemic, which means they have lower risks.
Learn how to calculate the CAP rate that is used to compare one deal to another. The CAP rate formula is net operating income (NOI) / price. The NOI formula is effective gross income (EGI) − expenses. The EGI formula is income − vacancy.
The Commercial Property Evaluator tool uses a fixed algorithm. The vacancy rate is always 5%, the expenses are always 45%, and the CAP rate is always .07.
3 resources:
- Commercial Property Evaluator
- Commercial Property Cheat Sheet
- Cap Rate Review
You will have access and learn how to use Peter Conti's proprietary contracts that allow you to tie up commercial properties for 90-120 days, during which you can drop out of the deal without having to give a reason and get your earnest deposit back. You will also have access and learn how to use Peter's purchase and sale agreement for commercial real estate.
7 resources:
- Standard Commercial Contract PDF
- Standard Commercial Contract Tool
- Standard Commercial Contract Timeline PDF
- Escrow Instructions
- How to use the Escrow Instructions PDF
- Financing Contingency Addendum PDF
- Financing Contingency Addendum Instructions PDF
You will learn how to get offers accepted by doing as little as possible. Find your "test" area to practice finding properties and sending offers. Preferably in a remote or virtual location.Set your action goal by breaking it down into simple steps. They encourage you to get an accountability coach who is a mentor or fellow investor and will suggest you join Commercial Dream Partner.
The lesson also teaches you tricks on how to adjust offers, such as subtracting rehab costs or using excess vacancy factor. You will also learn tips and tricks on how to deal with brokers, such as only contacting them through email, or using scripts, and learn real estate terms. Finally, you will learn how to use, when to send, and where to send escrow.
4 resources:
- Daily Success Steps Chart PDF
- Excess Vacancy Formula PDF
- Commercial Investing Terms to Know PDF
- Broker Email & Phone Scripts
There are 5 ways to get your deal closed:
- Do it on your own.
- Friends and family.
- A simple joint venture.
- Syndication.
- Creative acquisition strategies.
The Day 5 video shows several examples of deals that students of Commercial Dream Partners have done.
There is a "Day 6 bonus training" which will bring you to a recorded "free live webinar". The webinar talks about Peter's background and moves into real estate, explains why commercial property investment is better, and gives an outline of what you will learn and get by signing up for Commercial Dream Partner.
One Deal & Done Virtual Summit
One Deal & Done is a 2-day virtual summit set for August 24–25, 2022. Each day will include 4-5 hours of training plus a small assignment for you to complete. Day 1 will talk about where to look and what to look for so you know how to spot big deals that you can control. Learn the methods and techniques to find deals that don't require a large amount of cash, investors, good credit, or bank loans.
The second day will talk about applying the lessons to commercial wholesaling, which is a part of the real estate market where you can find big deals. You will see how Peter works with Commercial Dream Partners each day of the week. You will learn how Commercial Dream Partners automate their businesses, quickly analyze and efficiently negotiate deals, make offers, and close profitably.
The virtual summit costs $55. With the purchase, you also get 4 bonuses:
- Millionaire Secrets Course - A 3-Day Recorded Training normally reserved for Mastermind VIP clients only.
- How to Buy And Sell Commercial Properties Using Social Media - E-book
- The 10 Biggest Mistakes Commercial Investors Make - E-book
- 7 Negotiating Hacks Guaranteed To Save (Or Earn) You Tens Of Thousands - E-book
Commercial Funding Deal Summit
The Commercial Funding Deal Summit is a free 2-day virtual event set for September 28–29, 2022. Each day will include 4-5 hours of training plus a small assignment for you to complete. Here are some things you will learn during the virtual summit:
You have the option of upgrading to a VIP pass for $97. With the VIP pass, you will get:
Commercial Real Estate Investing For Dummies
For Dummies published the book in 2008, which was authored by Peter Conti and Peter Harris. The book has become a highly rated and best-selling real estate investment book. The book teaches you everything you need to know about real estate investing.
You will learn how to:
Keep in mind that this book was written before 2008 and the real estate industry has changed much since then. Therefore, much of the information in this book will be outdated as of today.
Mentor Financial Group
The Mentor Financial Group was started in Lakewood, Colorado in 1997 by Peter Conti and David Finkel. Peter Conti and David Finkel appear to have used owner carry, lease options, and other low-risk real estate investing strategies in the 1990s.
After purchasing David out of Mentor Financial Group in 2005, Peter Conti handled the business on his own for a while. Peter learned that the traditional strategies for making money in a booming market were no longer viable once the real estate market crashed in 2008. He shifted his focus to the commercial real estate marketplace, mentoring, and writing books.
There have been many complaints regarding the service of this mentoring group. Many students complained that they were met with a recorded video in their live coaching calls. This prevented them from voicing concerns and asking questions. The price starts at $27 but you won't get anything useful with this. You will receive tons of upsells which you would actually need to purchase to get any more resources or help.
A big complaint was about the approval of deals. The program promises to fund and purchase the deals from their students. However, they rarely approve deals even though they meet the criteria. The Better Business Bureau interviewed Peter about this, which he avoided answering directly and skillfully spun it around. Jerry Norton purchased Mentor Financial Group from Peter in 2014.
Peter Conti and Mentor Financial Group Controversies
There have been many controversies, with many accusing Peter and Mentor Financial Group of being scams. If you look throughout the internet and on real estate forums, you'll find many stories about Peter Conti and his previous programs. There have been many programs under the company, all having the same premise. You sign up and pay a deposit to show commitment, and you get paid to find them properties to flip if they are approved.
Here are some programs:
Commercial Dream Partner Alternative
Cashflow to Freedom Academy by Ryan Stackhouse and Jess Reed teaches you how to make money in commercial real estate with triple net leasing properties. There are several offerings from a 4 module video training course to different levels of investment (Bronze, Silver, Gold). Each investment level unlocks more tools, contacts, and mentorship that will benefit your commercial real estate business. They show you how to raise money legally and they share they industry contacts which help you seamlessly do business.
Price: Cashflow to Freedom offers a variety of pricing from $297 to $25,000.
More Info: Cashflow to Freedom Academy Review
Commercial Real Estate Investing in 2024
The commercial real estate industry took a beating during the COVID-19 outbreak. As the world enters the post-pandemic period, commercial real estate has to adapt to changes. Many businesses are shifting online and are unlikely to return onsite for many reasons. This could affect the demand for commercial real estate.
There are many real estate courses out there, each with their own method and strategies. Each has its own pros and cons. Here are a few of these courses:
Vodyssey is a "lifestyle assets" mentorship by Shawn Moore that teaches you how to create themed vacation rental businesses.
Beyond Bnb Secrets teaches the corporate housing Airbnb strategy by Dr. Chau Ong.
Rich Dad Cashflow Blueprint by the famous Robert Kiyosaki uses high risk methods to get the best ROIs.
Rental Academy Mentorship by JD Sustar is a mentorship that specializes in purchasing properties and renting them out to tenants or Airbnb clients.
The Rona Proof System by Tony Robinson is a masterclass course on wholesaling real estate, with a special focus on closing deals without needing to meet clients personally.
That said, there are also generic courses that sell for cheap. These generic courses are good for beginners to learn the basics of the business before jumping further into it. An example of a generic course is Hector Perez's Smart Wholesaler which is only $98.
Best Passive Income Investment in 2024
There are many uncertainties in the future of the commercial real estate market. This increases the risk of investing in it. What is certain is that online businesses are continuing to rise. If you are looking for a low-risk way to earn money online, the local lead generation business model lets you earn passively by renting out your digital space to local businesses.
Local lead generation works by ranking your websites on Google, then renting them out to local businesses for them to advertise on. It costs very little to set-up and maintain. Your ranked sites can stay for years, meaning you can spend your time scaling your business or doing anything else. This makes local lead generation the ideal business model to give you financial freedom.
Check out Local Lead Generation if you want to know more about earning passive income online.
Thanks you! That was fantastic break down of what to expect. It truly helped. Stay bless!
Hi, concerning Digital Real Estate, what do you charge local businesses per lead, $25, or $50 per lead?
Hey Mark! Thanks for your question. Typically I charge a flat monthly fee and not on a per-lead basis but keep in mind that your location and type of business will dictate some of the cost per lead. Our program offers a lead calculator for this exact reason so students can show business owners the potential increase in their ROIs based solely on the leads we provide them. Towing, for instance, can be as little as .10-.25/lead, but big-ticket jobs like cement, for example, would have a significantly higher per-lead valuation. Does this make sense? If you have additional questions or want to talk to one of our coaches directly about our local lead generation program, please feel free to book a call with this link: https://ippei.com/best/. Thanks for reading, and best of luck with your digital real estate journey.
Thank you for the review! Can the Commercial Investor Pro Software help to search off-market properties in a specific city or do you need to input the owner's information manually into the software for it to contact the owners?
Thanks for excellent review of Peter Conti. Are there any apartment investing courses you recommend?
Hi John! Thanks for your comment, and glad you enjoyed the article. Vodyssey is a “lifestyle assets” mentorship by Shawn Moore that teaches you how to create themed vacation rental businesses and is one of my recommendations. Hope that helps, and best of luck!