Total Wealth Academy - Houston

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If someone is getting rich doing something, why would they teach classes on how to do it an create competition based on the exact same model?

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Unless it is an investment trader than can no long trade (legally),

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I don’t understand why anyone would do this

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Notice how few of these existed prior to 2020?

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look at my 2 links on the last page of this thread if you want to learn anything legit via courses/seminars in Texas.

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A Brad Sumrok student once referred to the multifamily investor as a “cheesy used-car salesman” when describing how his mentoring programs were marketed.

A new suit against Sumrok, however, makes much harsher claims about him and his programs.

Dr. Sanjeev Mall, a physician in Frisco, Texas, who dropped $100,000 on Sumrok’s offerings, is suing him, alleging Sumrok misrepresented the value of his mentoring program and committed “fraud to induce Dr. Mall to invest in the mentorship classes,” the complaint reads.

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Two years ago, when the multifamily market was on fire, Sumrok had the receipts to prove it. His disciples’ deal volume surged by $1.5 billion as national multifamily investment smashed records. Sumrok would regularly parade star pupils onstage who’d banked stunning returns, according to some students.

Over the past six months, that success story has unraveled. This spring, Sumrok alum Jay Gajavelli lost millions of dollars of investors’ money after buildings bought through his Applesway Investment Group fell into foreclosure. The Wall Street Journal characterized the blowup as one of the largest commercial real estate disasters since the 2008 financial crisis.

Multiple deals are now bleeding cash, some of which Sumrok invested in personally, according to Morningstar data and two students familiar with the matter. Others have already tanked, thanks to market conditions: rising construction costs that stymied value-add plans, soaring interest rates and slipping rent growth.

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Through multifamily syndication, a sponsor or general partner finds an apartment building, secures financing, then taps a number of investors or limited partners to help fund the deal. Sumrok teaches how to be a sponsor, a limited partner or both.

Much like his peer Grant Cardone, Sumrok rode the syndication wave of the mid-2010s. The JOBS Act, passed in 2012, cut red tape around raising capital, opening the door for real estate players to tap cash from smaller investors. The SEC reported that syndicators raised $905 billion through private offerings in 2010. By 2017, the figure had hit $1.8 trillion.

Both Cardone and Sumrok aspire toward a rich man’s swagger. But arguably, only one pulls it off. Where Cardone’s conferences draw thousands, Sumrok’s typically boast hundreds. Cardone books A-list celebrities; Sumrok leans on Kiyosaki and Cardone himself.

And unlike Cardone, who dabbles in teaching sales and recruiting new investors in his own deals, Sumrok is more narrowly focused on minting new landlords and apartment investors.

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