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Complete waste of time and money. The guy is full of rap, with a capital C...
Cannot Recommend A Purchase.
Hi Moshe,Are you an actual mentee of Tom Wade? If so, please can you share some insights as to how you arrived at your opinion?
Vanessa Warwick Landlord and Co-Founder of PropertyTribes.com **If you have got value from Property Tribes, find out how you can support it in remaining a free to use community resource**
Hey Everyone,I wanted to make people aware of Tom Wades Mentoring programme. I joined his 12 month "mentoring" programme at the start of November 2018. His programme is remote property flipping or deal sourcing from anywhere in the world without having to meet buyers or sellers (or so he claims).I stupidly paid him £12K to join this so called mentoring programme with claims that i would receive certain services but never got them or the level of service i would expect for the amount i paid. It all started from me reading his free e-book "how to flip properties with no money, credit or experience" or "the 15 rules to remote property flipping" where he makes it out to be so easy and appealing to work only 2 hours a week and how you can quit your job and build a successful business etc.I started working on the business full time in December after setting up everything and was putting in minimum 40-50 hours a week if not more. I followed all of his instructions, templates, scripts, contracts and watched all of his online videos. I put in a lot of action and did more than the numbers he was suggesting you need to in order to get a deal.I started to push close people in my life away from me as he teaches not to interact with people who not doing what your doing and they don't know what your going through etc. In some of his videos he even mentions if you have to cut ties with family, friends and relationships you need to do it to be successful.I was working 7 days a week at one point from 7am until midnight not spending time with my wife and 2 young kids neglecting them and got caught up. Even tho they were very supportive but they also suffered during this process of chasing the dream of working 2 hours a week remotely sourcing deals.In summary i done a mix of direct mail marketing and sent 20,000 letters (the templates he told us to use). Online marketing FB adds and Google adds. As well as using agents to make offers to vendors and all the online classified adds (gumtree, preloved etc). Partnering with home buying companies, built a buyers list of nearly 300 people by attending auctions and weekly networking events. Co sourcing with people in the group and outside the group on deals.In January i had a few potential deals come my way but they eventually all fell through but i continued until the end of February to keep trying but still to this day have not made any money through the methods being taught in this programme.I asked Tom to look at my deals to see if there was anything wrong with them as i am not experienced and still learning. He did not get back to me and just told me to continue to send the deals out on Facebook. Before joining the programme he advertises to have access to his "buyers database". There are others in the group who also asked him to help them sell there deals and he did not even analyse the deals to see if they stack let alone help sell them.I was supposed to get the following services in the mentoring programme but not received them:Custom made business plan to follow
Weekly follow up calls/action plan
An "investors" portal promised to the group since November which still not been delivered
A custom tailored made website/click-funnels but took over 6 weeks to be done (some other people have waited longer up to 7 months)
Access to Toms so called "buyers database"
Many lies and false promises
Action based guarantee money backAlso included in my programme was his software he designed called Interflowe. He basically took Podio (which is free to use) changed the name and added some contracts and sold it to us as a new system. It is not user friendly at all and has many flaws in the system. He also added many bolt ons which you had to pay for such as SMS, Tracking numbers, direct mail marketing (£2.50 to send 1 letter of intent!) he did not mention this prior. Postcodes would change when you save them under a lead and sometimes would not save details. You cant send simple deals out to your buyers list and was not worth the money paid.Some of these issues i had mentioned in our group chat which Tom and his coaches were part of and was ignored.I spoke to various members in the group and the few who have made money told me they made it using different methods which Tom does not teach and have joined other property education programmes and found there buyers that way by meeting them face to face. Also there are some people who had 25 years property experience prior to joining the group who were successful.I reached out to people who had done deals but turned out Tom promoted people to post there deals in the group. When i spoke to the mentoring group members they said the deal had falling fall but Tom quickly would screenshot the post and use it as his own marketing to get people to join the mentoring. He did this with one of my posts also but when the deal fell through he did not seem bothered or retract his posts and was keen for me to post the deal in the private mentoring facebook group to "motivate" others in the group.I spoke to various people outside the group who have confirmed Tom has not done any deals since 2014 and is teaching an out dated concept which is no longer effective and up to date with the current strategies taught by bigger organisations. He tells the mentoring group he is still currently doing deals but when he shows his google and facebook marketing accounts he has not spent any money since 2014 on deal sourcing.Compliance was not taught properly in the group and alot of the members did not know about getting compliant as a deal sourcer. All that was done was a list of 4 things we needed to join in a word document not explaining why we need to do it etc. I had to spend over £500 to get myself compliant which i was not made aware of prior to joining.Members of the group would ask questions about business insurance etc if it was needed but was ignored a number of times but then was touched upon very briefly with vague answers by the coaches.Some members had questions about other strategies like Rent to Rent, Serviced Accommodations etc but they were ignored. One of the coaches was apart of another deal sourcing franchise which started to ring alarm bells and another one does not even do deal sourcing anymore although they are genuinely nice people and actually tried to help at times.Alot of people in the group felt there was no structure and plan in the course from when you join at the start including myself feeling overwhelmed.You get access to his online videos (many of them being old) but had no instruction of where to start or building blocks to gain your knowledge. There is no personalised plan or follow up and felt like you get dumped into the group and have to find your own way and can just ask questions in the dedicated group chat. But the responses received were one size fits all approach as oppose to actual "mentoring".I am naturally a fast learner and watched all the videos within 2 months as i was constantly watching them but there was a lot of people in the group who were confused or would drop out and just disappear as they felt overwhelmed. I soon realised there was no new content being added and the same old stuff was being recycled. The webinar and the workshops were mostly filled with mindset related topics repeated over and over again.I felt the general people who joined in the group where people who had issues with mindset and not able to take action. I say this as i felt he picked venerable people who are quite and dont speak out in the group.I went silent in the group for the month on Feb to observe what was happening and started to realise the mentoring programme was not quite how its made out to be before i joined. I also waited to see if Tom or anybody reached out to me to see how i was getting on or to organise my follow up 1-1 meeting but not heard from anyone.I have spoken to a number of people in the mentoring group past and present that feel the same as I do and had similar experiences with Tom. A number of people have asked Tom for their money back also but he been avoiding them. There are people in the group including myself who borrowed money from family members and was advised by Tom to take out loans and credit cards to pay for the course.I asked Tom Wade for a refund from the "mentoring" programme. As i spent £14.5k in total (including 12 month mentoring and marketing) = £0 and no deals. I set up a meeting with him last week Thursday face to face to discuss my issues and concerns about the service received in the course and the things i have not received. I have evidence i have done all the things he taught and also have voice recording of the meeting i had with Tom. His response was i have "done too much" and got offended i was discussing this and got his back up. He mentioned some of the things i done don't work such as google adds but yet he teaches us to do them.Tom told me on Thursday he will get back to me by end of Friday (next day) as he needs to speak to his "business partner" about refunding me some money. He teaches us this technique when speaking to a vendor to say we need to speak with our "finance partner" even tho we don't have one. No surprise i had to chase him on Saturday he responded by saying he needs another 1-2 days. I have still not heard from him and has been avoiding me despite me chasing him.I also dont buy into the fact i need to carry on for 12 months to get results, i been doing it for 3 months and not got anywhere why would i spend more time and money to waste another 9 months.I have a background of recruitment and been dealing with highly skilled professionals for over 6 years on the phone. I am more than competent to close deals and get buy in on the phone and would have done so by now.I wont be surprised if he labels me as "negative" or blocks me from the group. I can mention alot more things but don't want this post to be too long as its long enough already. Its not just me there is a number people who feel the same way in the mentoring group and im sure there is more who have not spoken up as they might be labelled as "negative" also. I got sucked into his sales technique and his charm but if you look beyond that you will find something else.In summary Tom Wade's Mentoring programme is completely overrated and was not worth the amount of time and money i invested.I feel like i have been conned and mis- sold a concept that is out dated. I do believe other methods in property work and deal sourcing does work. I have proven to myself and others in the group that following what Tom teaches does not work. Its natural for me to feel put off property for the time being as it was an expensive lesson for me to learn in regards to these educational property courses.I have spoken to Citizens Advice and told me to seek legal advise and look to appoint a solicitor to take on my case to claim my money back and pursue my losses. They have also passed on my case to Trading Standards. I would appreciate any recommendations of solicitors who can assist me in this.The point of this post was to make people aware of the realities of Tom Wade's Mentoring programme and not to make the same costly mistake myself and many others have made.
Thank you for the detailed summary of your experience, your contribution is invaluable to others who may be considering going down the same path with Tom or others. I hope he does the right thing and refunds you. It's unfortunate that it seems only these 'guru's' become financially free from their courses/mentoring programmes and not their students.
Hi Zaf,Thank you so much for taking the time to write such a comprehensive overview of your experiences of Tom Wade's mentoring programme. I hope he does the right thing and refunds you your £12K. If he does, please report back here.The methods used by Tom Wade are very similar to other property trainers and educators, so your post is a huge service to the community, not just people thinking of getting involved with Tom Wade.As soon as he faked his Rolls Royce ownership, he was immediately untrustworthy in my book, so your post/experience sadly comes as no surprise to me.That was before the ludicrous and downright irresponsible notion that you could "flip" properties you had never visited in person .... Clifford Tibber of PT partner Anthony Gold Solicitors specialises in these type of cases and can be contacted on clifford.tibber (@) anthonygold.co.uk
Thank you, I will contact him.
Surely there are enough of these 'gurus' and 'mentors' for someone to realise that there is an industry in what appears to be conning people either by design or stupidity and that needs investigating ?
I believe a documentary is in production about Glenn Armstrong and a camera crew attended his recent bankruptcy hearing. I also know of another investigative journalist from a major TV channel who is putting together a programme on another guru who is also likely to go pop very soon.The problem is they don't know how far ranging this whole "wealth creation" industry is and how much money people lose from unscrupulous companies. Many victims are silent and disappear with their tail between their legs. As the sector is completely unregulated, there is no one to turn to for redress and the police will not get involved unless there is millions lost and/or serious fraud involved.What you see reported on Property Tribes is the tip of the iceberg imho!