« 2006 401(k) Contribution Limits | Main | Tax Links: Online Tax Resources »
A Review of The Millionaire Maker by Loral Langemeier
By JLP | January 17, 2006
Loral Langemeier’s new book, The Millionaire Maker
For the most part I thought the book was pretty good. I liked her discussion of the “Lifestyle Cycle vs. the Wealth Cycle.” Loral believes (and I agree) that wealth can never be built in the Lifestyle Cycle because whatever income comes in goes right back out to support a consumption lifestyle. With the Wealth Cycle, income (at least the part you don’t need to live on) goes into other income-producing assets, which in turn produces more income, thereby building wealth.
Loral also details what she believes are the twelve building blocks of wealth:
|
Gap |
Financial |
Freedom |
|
Debt |
Entities |
Cash |
|
Wealth |
Forcasting |
Assets |
|
Leadership |
Team- |
Conditioning |
Here’s what each of the twelve blocks mean:
1. Gap Analysis - the difference between where you are and where you want to be.
2. Financial Baseline - a look at your current financial situation using personal financial statements like net worth and cashflow.
3. Freedom Day - The realization of each goal.
4. Debt Management - Getting rid of consumer debt.
5. Entities - Using trusts, partnerships, and corporations to effectively manage wealth and to take advantage of tax breaks.
6. Cash Machine - What fuels your wealth cycle.
7. Wealth Account - The pay-yourself-first account. Once accumulated, this account is used to purchase income-producing assets.
8. Forecasting - A projection of your revenues, expenditures, assets, liabilities.
9. Assets - Direct and diversified asset allocation.
10. Leadership - You must “lead” your wealth.
11. Teamwork - Loral believes in the team approach to building wealth. You should work with a team of professionals in order to properly execute your strategies.
12. Conditioning - The way you think about money.
The three blocks along the top and bottom always stay the same. The six blocks in the middle are arranged in an order based on your current financial status.
Loral believes in using all resources in building wealth. One of those resources is home equity. She has no problem in recommending people to use their existing home equity to buy income producing assets like real estate. I’m not so sure I agree with this since we are in the midst of a real estate bubble in a good portion of the country. However, Loral believes that there are places where one can buy real estate and do fine. All I can say is BUYER BEWARE.
That’s not the only thing that bothers me about her book. In some of her examples she repositions her clients assets into vague ideas like: “$70,000 into a start-up company, 48% return.” Yep, you read that right! I’m not saying you can’t find something that can give you a 48% return but it does seem unlikely.
I don’t think this book is a lost cause by any means. However, I do think you need to read it with caution. There’s some great stuff in this book (like her debt elimination plan which I will highlight in another post). Just be sure you exercise good judgment when executing her advice.
Topics: Books |
January 17th, 2006 at 11:32 am
I have requested this book from the library and look forward to reading it. Thanks for the excellent review!
January 18th, 2006 at 6:27 am
I have done the same. Hopefully it will be available soon, I am number four on the waitlist.
January 30th, 2006 at 12:19 am
Getting Out of Debt - A 5 Step Strategy
As promised in my review of The Millionaire Maker, here’s a look at Loral’s 5 Step Strategy for Getting Out of Debt: Step 1. Create a Debt Elimination Box Gather up all your debt statements (credit cards, charge accounts, high-interest…
May 10th, 2006 at 6:10 am
I just received an envelope in the mail from Loral. It is a promotional letter for her book and CD for 6.95. I am goiing to send for it. When will you finish your next post?
Paul
July 4th, 2006 at 9:38 am
Loral is one of my coaches. All I can say is if you liked this book, wait until this Fall. She’s coming out with another one that will be even better.
July 24th, 2006 at 5:57 pm
The sales people continue to call me and they are rude as hell over the phone. I already made all the money, needed to live life without the sales BS. Hard selling tactic’s don’t work on most people. Be rude to the customer, must be what she’s teaching her staff, all they had been is rude and jack asses over the phone.
July 24th, 2006 at 6:00 pm
This book is a waste of time, the sales staff will call and call, and hound you for ever. Just go read all the other books at any book store, her’s is not even that great. She must be teaching rudeness 101 to her phone solicitors.
What a bunch of crap.
September 7th, 2006 at 7:00 pm
We listened to Loral’s sales staff and even considered enrolling in her wealth foundation coaching series (6 month program at $8,000). When we asked for the agreement before giving a credit card, they said no one had ever asked for this. They refuse to let you see an agreement in advance.
Now we are getting calls every day — sometimes 10 times a day by their rude sales people. I like Loral’s book but I have no confidence in her coaching program now. Don’t do it is my recommendation!
September 28th, 2006 at 9:57 am
Is anyone in Loral Langemeier’s coaching program? I would love to discuss to get some feedback from someone in her program. I have her book now. Thanks!
November 6th, 2006 at 12:12 pm
I too am curious to find someone who has gone through her coaching program Just read her book and have done my own Gap Analysis. want to go to the next step if its for real
November 16th, 2006 at 7:35 pm
Im enrolled in her coaching and LOVE IT my coach has shown me how to rearrange my tax structure and Ive already saved thousands. I recommmend it to anyone who is goal oriented and looking for a change.
November 17th, 2006 at 2:34 pm
I am currently reading the book, and would like to speak to or hear from some other people who have started or completed her program. I like all the ideas, i have already spoken to three people in her organization, sometimes it is a bit sales pitchy but i am interested in learning more. I have already acheived some degree of success on my own and wonder how this organization might help me.
November 21st, 2006 at 1:39 am
Obviously the $6.98 book and CD are a come-on to buy other products. They quoted me about $400 for a dozen more CD’s and DVD’s. Has anyone bought this? How can you evaluate it in the 30 day time frame they allow for a return?
December 30th, 2006 at 6:44 am
Question: I earn minimum wage and hate my dead-end job…can this book help me?
January 13th, 2007 at 2:57 pm
DON’T DO THE COACHING! I believe in Lorals information and I do think it’s awesome and can be life changing but the coaching is a WASTE of money. A lot of money. They are great sales people and awesome at convincing you to buy in. At first they wanted us to pay $10000 for the coaching and we almost did! They convince you to put it all on a credit card and say you will be able to pay it off once they get your business going. We signed up for the lesser $4800 and have been disappointed so far.
The first two weeks they send you into this crazy cash machine creation and expect you to start a totally new business making money in a couple weeks before they even inform you how to make money! Then from there its basically sit back and listen and do the assignments. It’s basically someone reading you the information in her books and courses and asking you what you think about it and encouraging you to do the assignments in the book. In my opinion $4800 just to hear someone reiterate the books and cd’s we got is not worth it. I could have listened to it and gone through the books myself without paying $4800 just to hear someone else explain to me her information. It’s good info, but the coaching is a waste of alot of money.
January 15th, 2007 at 7:44 pm
I am currently enrolled in Lorals program. I have invested time and money. It scared me to death! but i also knew I had to do something different. Her coaching has comepletly changed the way I look at my money! Investing is something completly foreign to me. I know nothing about realstate stocks or anything else out there. I have only been involved for about 2 months. But if it continous to grow as it has I am confident it will be worth every penny! I would STRONGLY suggest anyone who is struggling in finances to get Lorals coaching! They are very detailed in there instruction and always available to answer any questions i can throw at them! I can’t wait to start the accelerated program in the next month…
And as for Jon, I agree that paying someone to walk me through the materials sounds like a waste of money… but at the same time I spent over $40,000 dollars to get a degree in Surgical field… and I cannot imagine buying the books and trying to go through it on my own without my teachers! Without my “coahes” I would have NEVER been able to get my degree!
January 17th, 2007 at 7:59 pm
This program is a waste of money and I am sorry I spent the money for shipping costs. She is good at taking the teachings of Robert Kiyosaki (wealth cycle) and Napolean Hill 6 steps to turn your desire into gold and putting her own spin on them. The program leaves you with nothing but questions. You will want to know more about setting up a corporation, how to reduce taxes (google Sandy Botkin at the Tax Reduction Inst) and get all the other financial information for free at Microsoft Money, CNBC.com or Yahoo Finance. For great information about stocks watch Jim Cramer on CNBC’s Mad Money.
There looks to be a huge selection of websites linked to this site. I am glad my google search on Loral L. led me to it.
January 18th, 2007 at 5:08 pm
I was very impressed with the sales force initally, but after I asked to implement my right of rescission to do some more investigation on the company, I was ridiculed and insulted. Still, I think the program might be beneficial-I’m waiting to see if anyone who has completed the program has anything good to say
January 23rd, 2007 at 1:44 pm
I truly appreciate all the comments that you people have been willing to share re:Loral Langemeier’s program!!!! I KNOW that with coaching I and others have more of a likelihood of achieving our goals and I was just about ready to “sign up” for the LL program.
January 25th, 2007 at 4:17 pm
Hey I’m pretty serious about this Loral coaching thing. She sounds like the real deal, I guess, if there is one. Any feed back would be appreciated from people in the coaching. I did find her media clips VERY helpful in boosting my confidence in her… Forbes.com? BusinessWeek? CNN? ABC Money Matters?? These are sources I’ve trusted for a while when it comes to my money. I’m about ready to take the plunge… somebody stop me if there’s a good reason not to move forward!!! I agree with Eric, I’ve spent a hell of a lot of money on college degrees. Whats another 12K if this works? Anybody have some input for me?
January 26th, 2007 at 3:00 am
Yeah, I got a reason to stop you. Information is valuable, granted. However, if you already HAVE the information, it doesn’t cost you very much to impart that information to someone else. It CERTAINLY doesn’t cost anywhere near $12,000!
I’d recommend looking harder for that information and then using that $12k to start your business. LL knows how to make money. And one of the oldest ways to make money is to present yourself as the one with all of the answers and charge ppl through the nose for those answers.
I don’t know LL. I’ve never met her. I’ve never been to one of her seminars, I haven’t even read her book yet. She may be a very wonderful altruistic person who just wants to help other people become rich. But if that is the case, why charge so much for the seminar? Much of her information is likely helpful, but if you are going to TAKE ACTION, it seems to me you could start be going out and finding this information for yourself instead of paying $4,800 or $12,000 or whatever to have it spoon-fed to you.
The preceding has been “just my opinion” ™
February 7th, 2007 at 10:14 pm
I have been to Loral’s seminars and from hearing her speak and participating in her programs this is what I can tell you, take it for what it is worth…
COACHING is not always about paying someone to educate you, although education is a part of it, it is also about keeping you ACCOUNTABLE to yourself. If you have the knowledge already and you havent done it on your own yet, what makes you think you can do it on your own now.
Loral’s programs are set up based on a need she saw in the seminar world. They are not only education, but they are the follow up support you need to implement and ulitmatly succeed, this is where a lot of other programs lack.
Loral even says that the wealthy have been doing these things for years, she is now showing how everyone else can have access and do the same things with the knowledge and support that her wealth building community can provide.
Loral really does want everyone to have access to how to become a millionaire, if she was just in it for the money, she could put her effort into her other businesses and investments and make just as much there.
I would agree, if you are just reading the books I would beware. You may be able to implement these ideas and do it on your own, but there is a chance you may miss one of the vital steps and fail. The programs you can enroll in keep you networking with a group of like minded people who provide the support and knowledge you need to do well. The books as I see them are just the begining.
…just my thoughts.
February 25th, 2007 at 5:52 pm
i personally know 2 of her
‘coaches”… they are broke and cant manage their own finances….. be careful… very careful
March 3rd, 2007 at 3:41 pm
I have been through Loral’s programs and they changed my life. BUT…
I don’t believe she is the same person that I met when I started. What Loral is lacking, as most of you say, is exactly how to achieve these goals. She is great at telling you how sexy her ways can be, making you believe that you can achieve what ever she is pitching at the time. The good news is if you are realistic and tone down her message, she will push your scope wider making you realize that more is possible in your life. Here is the BUT again…
She offers no more additional information in her coaching programs (and I have done them all) than what is in her book. Her marketing and book is designed to bring in the people, and then she has a series of coaching levels she will sell you. Then once you spend 10k plus for her big coaching, she will try and get you enlisted into her head of the table program that costs 100k a year.
The details that you get when you are in her 10k coaching program is 0 to none. She is basically picking what she likes from other books and calling it her own.
What she does not want you to know is during her 10k coaching program, she has everyone stand up in the room to list their assets statements. I don’t necessary have a problem with that part… it’s when she sits there and makes notes on who has how much cash so she can pull them aside later to try and get at the money.
Loral’s not making money on the books folks! In fact she bought her was onto the New York best seller list buying her own books. She is profiting from her coaching program yes… but she is looking for ways through her coaching program to get at the rest of your assets. She offers real estate deals and business ventures (to her coaching clients) that seem so sexy at the time. Promising returns that just don’t happen. In fact I have only seen a small few of her deals she promotes that profit or deliver what she promises. I wonder when she will get caught for pooling money for deals, but it has not happened yet. And I too know her coaches! She claims they are millionaires but she is really full of it. Most of them are broke groupies who have no other skill set than to promote her work. I have seen her go after those with large asset accounts like a vulture and drain them dry because she had convinced them they could turn 100k into 1 mill. The ones who are not good with money or do not have the confidence or sense to stand up to her get it the worst. I used to respect her but I can see plainly now that her heart is into making money and not helping people change their lives.
What do you get for your 10k? You get to sit in a room with others who are in the same boat. It is the people in the room that make the difference! I am just not sure it is work the 10k.
You tell me!
March 5th, 2007 at 2:17 pm
I was aslo suckered into Loral’s get rich program. I will admit it was my own fault, after all I am allowed to make my own choices. It first strated with a free cd and book, that led to a phone call and then a free look at the “program.” I did not even have the time to look over the program before I was called and “sold” into the mentoring program. The mentoring is not even done by the Langemeier group. It is provided by Premier Mentoring. The weekly or should I say “WEAKLY” classes are a farce. You are read the same information that is provided in the books and is a word for word transaltion on the cd’s. I know repetition is key in learing new material, but most of this material is so vague it could never do you any good.
One of the main teaching of thr program is to get rid of your consumer debt. They fail to metion that you are going to assume a lot of debt to pay for this program. I am sure that most of their business is done on credit cards. I don’t know of one person that, if they had the money would give it to Loral for this “training.”
You can get much better help for a lot less money by contacting your local S.C.O.R.E. chapter. There you will find qualified mentors and get some inforamtion that really can get you started in your own business.
This “investment” in myself that cost me $8400 of other peoples money (i.e. credit card) and a lot of time is by far the biggest mistake and best learning experience I have ever had. If I would have taken that money and invested it in inventory to sell on ebay, I would be far better of than I am now six month’s into this program.
My biggest regret is that I listened to the high pressure saleman and not to my inner spirit. I also vilolated the trust of my partner and I may never get that trust or same level of companionship back again.
So a lesson to be learned at not cost. Find someone you can trust and don’t be swayed by to big lure.
March 16th, 2007 at 4:53 pm
I signed up for Loral’s Big Table and have been trying for months to cancel. (have not gone to the first meeting.) weeks worth of daily voicemails and emails with no respone. Finally someone called me. (it was NOT in response to any of my communications) After going through my extensive list of frustrations I was told I could cancel but she would like me to think about it. For the last 2.5 weeks I am doing the voicemails and emails to inform them of my decision and NO RESPONSE. I am so frustrated and would like to get my money back.
March 19th, 2007 at 10:27 pm
Thanks for the heads up. $4,800, $12,000, I was told it’s $8,000 for 1 year of coaching, including help from their “established network” of people who can help with an array of services, such as finding higher-performing investments, setting up an LLC, etc. It sounds helpful to have someone to help me focus and direct- I’ll read the book and then use SCORE and find real people nearby… Thanks! -r
March 23rd, 2007 at 3:12 pm
What Loral forgets to tell you is she owns a piece of all of those business she is recommending. Anything from getting your entity set up to getting your books done…it is all her.
She tells you can network in a community and you should join her Big Table program so you can network with people. WRONG! Loral is a control freak… she wants to have a piece of your pie no matter what! She recently kicked three people out of the Alumni group because they would not partner with her. They paid good money to be apart of the community and were just there to network and meet people who want to do deals with them. Loral demanded that she get a piece of the deal and when the members said no..she kicked them out. The only thing they were doing was doing what said was OK to do when she was encouraging them to join! Once she takes your money …her rules change so please keep that in mind!
Loral is greedy. VERY greedy.
Loral wants on Oprah bad! In fact she hired Stedman to speak at the next Alumni event to get closer Oprah. RUN OPRAH RUN! You don’t want another issue like the one you had with the author who did not tell the truth!
Loral needs to learn that if you treat people right your success will follow. It is not the other way around!
May 27th, 2007 at 4:31 pm
Thank God for the Internet! I am SO GRATEFUL to those of you who posted warnings! Here’s our story.
I had responded to a radio ad and had sent for the “free CD,” which turned out to be two sets of CDs and one set of DVDs (the latter about real estate investing), which are NOT free, but will cost me $420 if I don’t return them in 30 days. (I will be sure to send them back by registered mail, return receipt requested!) On one of the CDs (”Building you Wealth Cycles”) Loral invites the listener to set up a “free strategy session” with one of her hand-picked millionaire mentors. I e-mailed strategies@liveoutloud.com and was delighted when someone contacted me. But instead of a free strategy session, this person was giving my husband and me this wonderful (or so I thought) opportunity to join Loral’s coaching team. It sounded great, at first. My husband and I were thinking seriously about enrolling in the “coaching/mentoring” program. However, a red flag went up when the person who contacted us (”Guy”) cased us for our asset info, including our credit card borrowing capacity. He was supposedly interviewing us to see whether he could recommend us to the director. He asked us questions that any drunk off the street could have answered successfully: (1) Are you willing to put in 5-10 hours a week to become a millionaire? (He didn’t say how exactly that time was to be spent.) (2) Are you open-minded? (3) Are you teachable? and (4) Are you decisive? Having answered these questions with flying colors (DUH) he said he would highly recommend us to the director of the coaching program.
My husband and I got to thinking about this. We have been careful not to rack up any consumer (credit card) debt, and Guy was suggesting that we borrow $15,000 from our credit cards to pay the mentoring fee. This would easily be paid back before we accrued any interest, but he didn’t say how this was supposed to happen.
We decided to google LL on the Internet, having already learned that it’s a good way to find out what other people have experienced with products and services. That’s how we found this site, and learned what some of you have experienced. The alarm bells were getting louder.
The next day, it wasn’t the “director” but the Vice President himself, Brendan Earl (FANFARE), who called us. He was very aggressive and authoritative, but said that Guy had given us the highest recommendation. We told him that we wanted our attorney to look over the mentoring agreement, and as soon as we got the thumbs up from him, we would be good to go. GUESS WHAT HAPPENED?! (Surprise, surprise!) END OF PHONE CALL! The VP said that Guy should have already screened us for our decisiveness (read “gullibility”) and that he would not be able to invite us into the program. It seems to me that any legitimate organization would encourage people to talk to their attorney before forking over $15K, so we knew right then that something was very fishy here indeed.
We were warned by the posts on this site, and can’t thank you enough for helping us to dodge a huge bullet. (I wonder how many of the positive posts are from people within LLs organization?) My take is that the mentoring/coaching program is another scam. LL’s organization is counting on people believing what they want to believe, without taking the legal steps they need to to protect themselves.
To anyone considering this “opportunity” to lose your shirt, just mention a contract or an attorney, and see how far you get!
June 11th, 2007 at 7:15 pm
Hello all I have been getting the grind from the friendly Reverend Jones type folks at Live Out Loud trying to get into my wallet via my credit cards. I stupidly gave him all the asset facts and credit line facts and he used them beautifully. For example I have a 31K credit line with 6K of debt on it. Guess what the Coaching Programs was going to cost me …$25K. I said whoa pardner, the live out loud site publishes a cost of around $7k which two week later went to 12K. Still after all the wualifying questions same as the post above I qualified to talk to the big guy name Todd Overton. Probably the equalivalent of a car sales sweat house. Now I am waiting for a call from these folks that I probably won’t take after reading similar posts to my story. I am not parting with 25K to any unknown asset manager/coach/reader of scripts/ That is what they have is a very good script, they follow you, try to get you to sign up without full disclosure on the program. Do your due diligence on the program and caveat emptor!!!
June 12th, 2007 at 1:38 pm
I was considered for this program 10 months ago. Unfortunately at that time I did not qualify because I could not set aside the time needed to be successful. At first I was bitter that I didn’t qualify because I work two jobs. Once I quit my second job, I called back to see if I could be reconsidered. I was re-interviewed and qualified for the program. I invested 15k on my credit cards and was very nervous at the time but trusted that Loral and her team would help me in making the necessary changes. Since this happened a few months ago I have managed to set up an entity to help me shelter my income that nearly matches my initial investment I made. I have been in the program for five months; it was probably the hardest decision I’ve ever made, but the most rewarding. I would recommend this to anyone that can put aside their fears and trust in Loral.
June 13th, 2007 at 4:40 pm
It always amazes me to see the law of attraction so predominant on such website like this one. Ignorant and uneducated people seem to flock together. If all you people are so savvy on wealth building, why aren’t you doing it? Maybe not all coaching programs are above board and legitimate but their are quite a few that are and loral is one. Loral Langemeier has helped me transform my life within a two year process. Yea, it wasn’t easy and I DID have to put forth effort but what she teaches and the coaches that she has behind her are phenomenal. I am a loyal follower of Loral and Bob proctor and have been for a while. It’s too bad that so many people allow others to navigate their destiny. Those of you looking to get help financially, don’t look to quitters and failures as a support mechanism, take ownership of your own future. How many graduates of college are working for minimum wage today? It’s not about theory, it’s about practical application. The reason why most or you all are where you are today is because you listen to all these so called life time victims. If you don’t like Loral, then don’t follow her but at least find someone else to help you. Believe me this, coaching works!
June 19th, 2007 at 8:01 pm
OK, so I am reading these posts because I got off the phone with Bob Runk, from the LL organization about two hours ago. I had done the Kiyosaki coaching in the past and that was a waste of time in the sense that it did nothing but reiterate what was in the books.
I read these posts and know enough that a lot of people do like to point the finger at someone or something for their failures. I then read the stories of success. And wonder who are they, where are they? IF (according to Bob) the success rate is 99% and “only 200 or so people are selected every year” how can their be such an overwhelmingly negative sentiment?
As a professional (biotech) sales person, I am aware of the language and the way Bob asked his questions made it very obvious he was “leading” me and my wife. With that said, I don’t fault anyone for being a good sales person as we all sell in our daily lives. If you have a job or are married then you have sold yourself at t minimum.
What I am looking for is the “network”. I have been trying to build a team and invest in real estate for the last 2 years now. I have traveled to Oregon, SC, FL, AZ and other states to look at areas for investment and due to the crazy RE market it has been impossible for me to find anything that cash flows to even get started. I am now in the process of learning about Lease/Options (I had read and heard about this “vehicle” from a couple of books and a profession re investor) and would like to find a couple of people to work with, to add to my “team” if you will.
We were hit with the sum of $22K to join the “aggressive” program as I have some rather major changes in the next two years that could force me to sell my family’s home and down size. So I am a bit anxious and have a sense of urgency.
If any of you out there are willing to actually talk to me live about your success or lack of with the program and be willing to answer my questions I would be very grateful. I know that this is a team thing as it is simply common sense that no one individual can do it all alone, but I just want to know who is for real.
Email me and I will send you my cell phone number:
criquinha942@yahoo.com
June 20th, 2007 at 11:57 am
My story with Lorals company is different than the rest, maybe it’ll shed some light on some of the confusion. I ordered a cd from Loral off the radio and then recieved a call from a company called premier. They were rude and pushy. Premier continued to call my husband and I over and over untill I threatened to sue them. We were still interested in Loral and her philosophies so I went on her website liveoutloud.com and signed up for a news letter. I of course recieved a call from another sales person, but this time was much better. His name is Nick Upton and he was very genuine and patient with my husband and I. We learned that Premier is a seperate company from LiveOutLoud, and Nick actually worked for Lorals company. We signed up for the cash machine workshop which was $3000 for both of us to attend, we made $1200 at the seminar and took orders for $900 more. We have since built a very successful business and plan on signing up for more coaching this week. It is a lot of work and accountability is really priceless. This month my husband was able to leave his w-2 job making way more money than he was before. Loral is simply amazing and we owe our success to her. I told Nick I would refer him to anyone interested so if you want to work with somebody real call him. (415)475-4907 Hope this helps dissolve some of the negativity surrounding Loral
June 20th, 2007 at 2:39 pm
Jeanette,
Thank you very much for the contact. Nick is a very professional and courteous individual. He just shared all the different packages and such, costs and what they entail with me. He also, had no issue sharing contracts with me. I am now pretty confident that Bob Runk works for Premier and I will be calling him immediately to tell him to remove me from their list as you can not work with Live Out Loud directly until you remove yourself from their list.
He also mentioned to me that he would be happy to share references.
I will be doing my due diligence to make the best educated decision as possible.
Thank you so much. I would be interested in speaking with you live so please email me at criquinha942@yahoo.com so I can provide you with my phone number.
Carlos
June 22nd, 2007 at 5:14 pm
FYI - The last couple of posts are plants from the liveoutloud community. TRust me! Beware!
June 25th, 2007 at 12:24 pm
The last comment of what Andrew says, “Is Correct.” I almost signed up for LL community but did not do it. Followed my heart. Especially the sale person that was trying to get my money. Do everything on your own and learn from other peoples mistake. Go to the people that you know are already successful and learn what they did to get there. Ask questions, questions! Paying so much money for mentoring is out of this world. It should be low cost and mentors really wanting to help. Because in the long run money will come flowing, if you help so many people. All I can say is, “Greedy is Bad.”
June 30th, 2007 at 10:30 pm
In response to Linda…
The Cash machine Workshop that Jeanette and her husband attended is better described as part seminar, part marketplace. The last part of the event is a “marketplace” that allows you actually apply what you’ve learned over the course of the event into action. So you have the chance to promote and sell right there. Take the order and payment/deposit, and ship it or finalize it when you get back home to your business.
So while the event cost them $3000 (not counting the expense of travel, hotel, meals, etc), they made $2100 in sales and orders. That’s not bad considering she only had a few hours to do it. Suppose they could get that as a daily average over the next? Not likely? How about HALF of that? That would still be a quarter of a million dollars in sales.
But let me cut to the obvious that I think a lot of the venom spitters conveniently overlook. But in fairness, let me admit upfront that I don’t know what these people have gone through. I do believe many people are totally unrealistic in their expectations and their motivations, and I believe they pay for them. But the thing I think that’s important to remember is that not every opportunity out there is for everybody. People should know this as a basic truth, but there are disclaimers everywhere in our society about every thing we seem to see, touch, feel or do that say otherwise. And by the way… it shouldn’t be completely dismissed that some people DO in fact go through the program completely unscathed, and come out very successfully.
Not to be rude or condemn anyone, but since we all have our opinions I think the “due diligence” of scavenging for the dirt on a $25 book investment is pretty lame. If you can’t afford $25 bucks, well hell… what are you doing? Bootlegging your internet connection?
And this epidemic of thin skin with telemarketers? Pathetic! Just say no thank you and be done. Why are you whining about rude or pushy callers? You don’t have to talk to them. You don’t have to threaten lawsuits (because both sides know you won’t anyway).
By the way, if you call a TOLL-FREE number, SOMEONE ELSE is paying for the call. You THINK it could be the party you’re calling? The phone company has to give them the numbers for all calls… nobody is “stalking” you. How silly!
August 3rd, 2007 at 8:59 pm
We did what a lot of others have done. Ordered the free CD and book to check it out. Before we barely got started, we got several calls which were polite and we began to discuss the program. After the warm and fuzzy part of it was over, we got to the tuition costs. The low end that was quoted was $15,000.00. We would put that on a credit card using (other people’s money)We hesitated and said we would have to discuss it. She asked what the problem was. I said I would like to talk to the mentor to get more details on how the money would be replaced. She said she could not bother the millionaire mentor for such detailed information because he is too busy and every case is different. I told her I will not lay out $15,000.00 on a promise and a prayer. I could hear her tone of voice become aggrevated. She said she would give us some time and would call back tomorrow. Now here we are on this site getting a lot of negative opinions. I agree with someone else who said, We can read her materials and study it ourselves without being spoon fed. I think we will decline.
August 3rd, 2007 at 9:07 pm
Dan,
$15,000 is a LOT of money! What the heck can they offer you for that much money? I think you are wise in passing.
August 16th, 2007 at 9:25 am
I talked to one of the sales reps named Bob Miller. He was very nice but you knew right off the bat he was trying to sale you something. The thing I am wondering about is why everyone is asked to pay a different tuition. I was asked to pay $6,438 for the cost of tuition. I read on this forum that some people were asked to pay $8,000 to $15,000.
The whole experience reminds me of a movie
“Boiler Room”. Take them for there life saving and get out.
My advise is to read her book first and take it one step at a time.
August 18th, 2007 at 4:00 pm
I still have not read any reviews of students who have been through Loral’s coaching. The 19k my wife and I have invested has created over 3500 each month in residual income. The difference between sucessful people and average people is they are willing to overcome fear. Everyone who has complained are SCARED!!! The mentoring is like getting a personal trainer at the Gym, it makes a difference.I would venture to say that all the individuals that are complaining are fat and physically out of shape as well.
August 21st, 2007 at 9:26 pm
I have been through ALL of her coaching programs and I am not a fat out of shape slob. Loral is greedy and her main focus is to take your money not help you earn it. Are you kidding me? What table are you in Parker? Have you been all the way through her program yet? I did not see the light until my 2nd or 3rd Alumni session and I was embarrassed when I realized who was really behind the curtain.
The problem is Loral does not even follow her own rules and she gets everyone excited then offers them no plan. Come on Parker… you got to know several people in the network who are in foreclosure, bankruptcy, and short sale because they dumped all their money into lorals projects and are all screwed because I do. Or what about the poor souls who dumped their money into gas and oil and prom notes that lost a fortune because they never got paid back or the returns were more like 1% instead of 110%.
It is great to be optimistic and positive and only look at the good… but shame on you if you let yourself be manipulated by a liar.
“The mentoring is like getting a personal trainer at the Gym” …. ummm I would like to know who your coach is! Most of the coaches I know are all talk and are broke groupies with no career of their own. In fact one of them is in foreclosure right now.
hmmm Parker… tell us more about your residual income! Aren’t you Loral’s JV partner?
August 29th, 2007 at 1:38 pm
I am increasingly concerned for a dear friend that has committed to this program for “thousands”. I feel in short order she will come to her senses and in order to save herself and her modest savings, need out of this “pie in the sky”.
Any ideas how I can help her?
Many, many thanks.
September 9th, 2007 at 8:46 pm
Loral may have started with good intentions. Now she’s on her high horse. She won’t reach down to you. And. Parker, people “who are complaining,” are NOT SCARED. They have GUTS! That’s why they intended to join the Program in the first place. It’s people who have not started who are scared, and for a good reason, too. For those of you who have given “fake” positive reviews, were you paid? You should. That’s LEARNING TO EARN! And take off those rose-colored glasses, will ya? I think this scheme is turning SHADY, anyway. SO WATCH YOUR STEP, FOLKS!
September 12th, 2007 at 11:18 am
Any “financial advisor” who constantly advertises on AM radio with such cheesy and fake-dramatic music is immediately suspect in my mind.
It’s a scam like any other: She makes money on ALL her customers. But her customers very rarely make the money she claims they’ll make.
This is yet another radio/Internet scam!!
September 13th, 2007 at 8:41 pm
I think that ALL of the posts that are saying such wonderful things about this miraculous program are her PR people who have been hired to clean up her reputation in internet reviews (which are actually a consumer’s best weapon against buyers remorse.)
All these long “posts” sound like infomercials.
September 16th, 2007 at 3:38 pm
So far I have read every one of her books. They all basicly say the same thing. From what I have read here, it makes me very suspicious of LL’s motives for the book in the first place. There is so little information in the books, just general ‘go for it’ and ‘ra ra ra’.
Much of what I have read here reminds me of another book I read (I can’t recall the name or author) but it was basic, set up some sort of educational machine, then sell the extras. The educational machine is cheap, be it a book or course, but then sell the extras for what the market will take. Does that sound familiar?
It makes me very suspicious of the so called oil wells and every other investment she says she has. Perhaps all she has is a few books and a massive selling machine.
If so, well, I prefer to get rich and still keep my self-respect. And if I can’t get rich that way, I can live with that. Personally, I think I can get wealthy and still keep my morals.
September 22nd, 2007 at 12:55 pm
I just started reading Loral’s book and I wanted to comment on a “red flag” I saw. In her first example, the Leonard family, she states, have $350,000 in equity in their home and owe $200,000 on their home. So they live in a $550,000 home. But they were able to buy 10 homes for $45,000 each in real estate? How do you find a $45,000 home in an area where your home is worth $550,000? I also noticed that her examples in her book were all able to have a new business they started and were able to make lots of money very quickly. I have sold on Ebay for five years and have done fairly well at it but it didn’t happen in two weeks! Just some of my thoughts as a newbie!!
September 24th, 2007 at 1:23 pm
I signed up for Loral’s course and 2 months later feel like a real dope. I wish that I had investigated it more thoroughly.
I can’t say that I have gotten anything of value from it.
I’m especially sorry that I didn’t negotiate, at least I could have spent a lot less on the course.
September 25th, 2007 at 9:51 pm
Now I am p.o. at my self for sending for her cd and book before I looked up her name and found this site!
September 27th, 2007 at 10:19 pm
I heard the radio commercial, ordered the free book (MillionAire Maker) and CD for a free $7.95 S&H, and read it all. Called my CPA and told him to act upon my recommendations (which I read in the book). Way less than the coaching (8K I think?) and Big Table (13K quoted). Thanks Loral for the ideas in your book that I can use my own people (team) for. My team is local, and now I’m leading it. Just saved 13K! Yay!!!
September 28th, 2007 at 8:06 am
I gave the $8,000.00 to my wife to be supportive of her dreams. Perhaps if she truly believes a good outcome it will happen (Law of Attraction)! But I tell ya if she hits me up for more money without recouping the original $8K she’ll be eating some tactful humble pie! Time will tell and hope the best for her! I’ll keep you posted on her success.
October 3rd, 2007 at 8:16 am
Looks like the LOL group didn’t waste anytime sending an e-mail in trying to get my wife (or myself) to purchase a 13K round table ticket and a 6K real estate class…huh..
October 14th, 2007 at 10:22 pm
Andrew
What Table are you on?
Do you know from your own experience of people who have not been paid back on prom notes or just not paid the interest owed?
Have you invested in any of her JV’s?
What do you mean it took until Alumni session 2 or 3 to see what is behind the curtain
Which coach is in foreclosure now?
November 5th, 2007 at 10:52 pm
I would like some objective information from those with some committed effort and experience in building a personal business using some elements of the LL program, and not just opinions from those who have opted out early in their experience. Can anyone document the actual success rate (achieved their personal Freedom Day Goals) of those who have completed either the 6 month coaching program or the Big Table? Does anyone have any information on the % of field partner/ or network member offers in which LOL has a financial interest? Does anyone have any personal experience (not opinions, please) on whether field parter/ network member offers provide real value over and above locally sourced team members, or whether they are just services brokers adding additional middleman costs? Thanks!
November 7th, 2007 at 2:48 pm
I was in her ‘Big Table’ program, to the tune of $10,000. My advice: stay away. I got embroiled in one of her investments schemes to build homes in New Mexico. The deal went south. There is litigation going on, possible forclosure actions against me and the other investors, not to mention the loss of a $13,000 deposit on my part. Not exactly what I bargained for.
November 19th, 2007 at 7:28 pm
Well, so far I’ve completed the Cash Machine workshop; enrolled in the Big Table and gone to the Blitz all in a 3-month period. So far we are good-to-go. I’m loving what’s happening.
I do have to say how interesting I find it that when someone steps in to tell their “good” experience they are “plants”, yet, all the naysayers are what? Who planted them? Well, I’m not a “plant”. I’ve been reading this thread for since I did the Cash Machine after someone warned me about Loral ~ probably after having read this thread.
I find “Dog and Pony Show” quite interesting. One would think if s/he’d actually done ALL the programs as s/he stated, s/he’d at the very least know what the names of the programs are.
You know what’s really great though? I don’t have to defend myself for doing what I’m doing and I’m certainly not going to defend Loral and how she does what she does. At this point, my “Cash Machine” is moving right along; I’m considering some fairly conservative investments after doing due diligence and, there ya go!
Revvell
November 24th, 2007 at 3:52 am
If you think you can, or if you think you can’t, either way your right. I’ve read all the entries here and this pretty much sums it up. However, the negative responses so much out weights the positive…My 12 K course money will stay in my back pocket until I invest it personaly, no “coach” involved. Let’s get real, you know what to do and if you don’t go to the library for free or Amazon and spend under a $100 and learn. You don’t need a coach, what you need is the belief in yourself to move on. You can hope to “atract” what you want but the missing element is “ACTION”, so act! When…Now! What are you waiting for?
November 28th, 2007 at 8:13 am
I can’t speak about the coaching program or anything like that because I didn’t enroll. I did receive the book and cd and did get the wealth package for $9.95 which had to be returned within the 30 days to avoid the $400. If you do receive the book and cd and decide you don’t want do send it back return receipt requested and get the “return authorization” number and keep your receipt. Do not loose it. I received a call from her staff stating that I owed $400 because they never received the package I sent back. I had to get a fax no. and fax it to them in order to prove that I sent it back. I believe they had that info already and were trying to flim flam me. I have several of Loral’s book and I like the idea of being financially free and independent and all that involves but I didn’t appreciate that at all. I don’t want to jump the gun but I did not appreciate that. I thought it was done in poor taste and it makes me look at Loral’s whole operation in a different light.
December 2nd, 2007 at 6:59 pm
I was “hard” sold Thursday and had not even rec’d my materials yet. I can tell you that I bought a coaching program from another source (Dean Graziosi’s) and was very disappointed by the coaching/script reading, and Loral’s script sounded almost identical–I even asked the guy who he worked for, he said Loral and that he was wealthy because of her programs—a big red flag for me, so this “wealthy” person is spending an hour in the evening selling me, hmmmm. I now have the materials and I agree, sounds like all the others–nothing new, amazing, or detailed enough to really assist. Believe me when I say I wish it was not that way. I will be returning it, and not be suckered in to another coaching/mentoring nightmare.
December 2nd, 2007 at 7:05 pm
Back up—I did learn one thing,that a 3rd party can tap into Roth Ira’s for funding as long as it is done properly but only a handful of companies know how, or can that be trusted?? I will be checking.
December 11th, 2007 at 8:34 pm
I seriously believe someone should send this company to the Inspector General.
December 12th, 2007 at 3:30 pm
Got my materials. I called them, that’s how passionate I am about changing my life. Talked with the person closest to Loral and told him I didn’t like being sold and that I was skeptical. I’ve taken sales classes myself and they were some classic (and usually effective) sales techniques.
Getting me to answer my own questions.
Asking me what I’d done so far.
Asking to get my husband in on the call.
Asking me what I had to spend.
Why I want to be wealthy.
What my dreams are.
He wasn’t getting far with me so he passed me on for my “interview” and this one was nice enough, but same sales idea. He asked me the same question no less than ten times and I’d already answered it nine times.
Then I was going to be invited into the inner circle, that they only take 2,000 a year, and I’d only have to put $6,000 on my credit card.
Well, that’s when I asked, “are you offering a money back deal if I don’t make at least $6K in three months?”
No.
He said that I had “passed” and that the main man would call me, which he did, right after I found this site (thank you) and has continued to call.
I’m sending their info back and I will get a return reciept for it.
I’m willing to do the work. I’m willing to learn. But I’m also willing to wait and invest that $6K in something else.
I’m going to contact my local SCORE and send the materials back.
It may be for real. The naysayers on here may just not have the smarts to make it happen, but I’m thinking that it’s just another “This is how I got rich” Rich Dad Poor Dad series and I don’t have $6k worth of risk in me.
Also, when they won’t tell you the tuition up front, I think that’s a sign of sales, not help.
December 13th, 2007 at 12:02 am
I have found the conversation here to be very interesting. There are positive and negative posts, and clearly the negatives out number the positives. But what is interesting is how the negatives accuse the positives of being “plants” for LiveOutLoud…no one accuses the negatives folks as being as being fakes from RichDad PoorDad or other competing Wealth Coaching Systems. It is just as plausible…but we (as a comon collective) tend to only see things one way, the negative way.
Further, we are all strangers here..no one knows anything about anybody else, but a few posters came to the thread and immediately found the negative responses they were looking for and ate them up. It doesn’t matter the character of the poster, the knowledge of the poster, zip/zero. I came looking for negative, I found negative, and now I am vindicated. I don’t have to change…I don’t have to do any work to change my life.
My two favorite posts are the last two. “Smiley” will do big things - decisive, action oriented, curious, NOT a victim. “Mari”, thinks something should be done, but is calling for someone else to do it…probably will always be a vicitm.
December 13th, 2007 at 9:52 pm
Mari’s not anyone’s victim, Mr. Einstein. Mari’s just reading and all is indicative that there is SOMETHING VERY WRONG WITH THIS PICTURE. Most people work for their money, I do, and I don’t believe anyone will make a millionaire out of me. I am what I am, very educated, into research and investments and I dislike those who take advantage of others. That is my view - hasta la vista, Baby..!
December 13th, 2007 at 10:34 pm
So, did you call the inspector general, or do you need me to do it for you?
December 16th, 2007 at 1:49 am
My life has never been the same since I met Loral. I attended the Wealth Blitz and Cash Machine Workshop before I signed up for Wealth Acceleration Coaching. I would make the same decisions again.
I have found that those who expect an easy ride don’t do well. Changing your life isn’t easy. It’s damn hard. You must learn to think and act in a completely new way.
There have been days when I wanted to quit and blame others for my perceived failure. What I have come to understand is that these days aren’t failures at all. They are opportunities to learn persistance. If you quit..you fail!!
I have increased my income by 30% and have requested my hours be reduced at work. I have new friends and team members who support me.
You must be realistic and realize that pebbles create a mountain.
You get what you ask for in life. I wanted a better life and I will not stop until I reach my goals. No program is perfect. If you expect perfection you’ll always be disappointed.
Your success is inside you and I hope you find it. Loral has helped me find mine.
December 20th, 2007 at 5:57 pm
has anyone out there taken any action against this fraud? I am looking to start a class action law suit after I too was promised a lot and soon discovered there was not going to be any one on one worth the money. Time to bring Loral the publicity she does not seek. Please contact me if you would like to join in an effort to collect from these scammers.
December 22nd, 2007 at 8:17 am
Well Chucki Einstein, perhaps you are one of the less-than-mediocre salespeople Loral pays to posts bogus comments! - Talk about ruffling feathers..perhaps you should be looked into as well - let me copy, paste and forward some more information! Bipin - contact the State of California OIG, the more they get, the faster they will act.
Merry Christmas…
December 29th, 2007 at 3:22 pm
This is why there are so few successful people in this world. Until you realize you are responsible for the results in your life the sooner you will se results. Stop blamming your failures on anyone else but yourself. If you can do it yourself stop seeking help from others and good luck finding success on your own. It takes a team!
January 14th, 2008 at 7:36 pm
I am currently enrolled in the coaching program and I am seriously dissatisified. I would like more info on any class action suit being formed. My husband and I were misled on several issues and are no further ahead than when we started. The coaching is pathetic, nothing Loral says is new information just packaged differently, and she is far too aggressive with her need for greed.
January 21st, 2008 at 8:34 pm
Greetings.
I just got off the phone with a salesman/strategist. She was absolutely great! I was totally honest with her about reading Loral’s book. I didn’t feel there was enough substance in it to actually apply anything. We had a great conversation. Of course it was geared to get me to a cash machine 3 day workshop at the quoted price of $2495. She did make it clear that the price could change and come down. We discussed business ideas. She assured me that the main focus of going to this seminar is contacts establishment, since they are important to any business endeavor. I totally agree. The one idea I did pose is, if most of the people targeted to go into debt and spend their last dollar to get this ‘education’ and to get this ‘list of contacts’ initially have nothing, how then can anyone really benefit? For instance, if I have 0 and you have 0, how then can we really help each other aside from positive thinking and hope? I know it is risky to go into any kind of business. We owned a steakhouse a few years back. My husband is an owner/operator now and I have my own alternative medicine practice which is starting to bore me. We both have invested in different business endeavors and lost money. Realistically, based on our losses, we can be considered faulty sources. But, we did have the guts to try and try hard. We didn’t have the fear that we could fail which is what prompted us to just ‘do it’. As I reflect on this and consider the pros and cons here, it seems we need each other, a community, for the good and the bad. We need each other for protection as well as for prosperity. Since Biblical times spies have been sent out to protect nations. If I were successful and especially if I was successful using Loral’s system, there would be no reason to come online and look for negativity. If things are going good and you are prospering, do you find yourself searching for people who are against what you do? I would be lavishing and relishing the good and compounding on it like on a vacation that never ended. Likewise, if things are not going well, it puts one on the defense. Those instinctual protection mechanisms rise as warnings of possible danger. This is why people are searching the internet (spies) to see if their inner guidance system is reflected by someone else. They are looking for protection. To me, they are being wise. Truly, if someone has their heart set on doing any type of mentor/coaching, scheme, scam, whatever, they will do it regardless of what is said. I believe most people are wanting tangible confirmation of tangible results others have experienced as protection of their assets. Isn’t that one thing Loral teaches?
Besides, if Loral’s millions are not based on recruitment to these coaching sessions, why then is there such a concern about warnings from others? When one is asked for big money for information but are really not sure what that money is actually going to net them, that should cause concern. That is almost the equivalent of putting all your money on one stock but you don’t even know what the stock is, no records, no historical charts, no name, just forward looking statements. My guess is, a 10% success rate with Loral’s program. I can’t say that for a fact since I didn’t buy into the program even though the idea of contacts is a great idea. 10% is a safe number since that is the standard percentage of leaders in any given demographic location. That is a standard in network marketing and even in sales (1 out of 10 will close, a numbers game)
I hope the percentages are much higher for the sakes of those who are already committed.
Wishing those who promote Loral’s program the very best and blessed protection for those whose intuition drove them to search for answers concerning this program here and elsewhere.
I sincerely hope I have made no enemies in my post here.
Abundance to all.
Angie
January 23rd, 2008 at 5:51 am
I just attended LL Blitz. The week-end was a series of speakers who were pitching their services. Their services were offered at a discount off their regular price - some even went on to say that they were told by LL that they had to give a discount during the week-end. It was pretty evident that each person speaking had a financial arrangement with LL - the CPA, the attorney, the lady who draws up legal paperwork (paralegal), etc.
T Harv Eker wrote a book called “Secrets of the Millionaire Mind”. He gives away tickets (2 @ $2500 each) with the purchase of his book ($25.00) to a week-end intensive. I learned more, in fact had a life changing experience at his week-end intensive. He teaches how to think differently toward money. He unearths why you think the way you do about money, and then moves you mentally and emotionally in a better direction.
The difference between Eker and LL is that Eker works from the inside out. He gives instruction on actions to take to change your thinking, and ultimately your behavior. LL wants to change your behavior by putting a cash machine in place. She does talk a little about conditioning, but not enough for that person who is not in tune, to understand what she is trying to say.
While I was at the Blitz, I met (only) one person who had gone through the coaching. She was not exhuberent about her experiences. She kept trying to justify her lack of progress by saying that she had only been working with her coach for 3 months.
I came to this site because of my attendance at LL Blitz. I was considering signing up for her coaching, but had a red flag, like many here who warned against signing a significant contract without reading it first. What attorney would allow you to do that? Common sense not to commit without knowing what to expect. LL’s contract is one way - you have to pay, but she does not guarantee. And of course, since I did not sign up at the Blitz, I lost my discount.
January 26th, 2008 at 5:38 pm
I too recently attended a Blitz and stayed for only the first two hours, until 10:30 on the first morning. I left because so many red flags began to fly. First of all, the people I intended to meet there, on the advise of my coach, were not there and were not even on the agenda. And within the first hour LL managed to push her game, the Big Table, and the Cash Machine. She spoke very disrespectfully of a Wall Street Journal writer, and made fun of people who grieve the loss of their pets. She then dangled the opportunity for a money make-over for one person in the audience. That is one out of about 280 people in attendance. Isn’t this what we all thought we were signing up for? I was disgusted and left.
As I understand the definition of mis-selling the public to mean sales and marketing practices that are misleading, decietful or oppressive, I have come to the conclusion that this is exactly what happened to myself and my husband. I have also requested a refund for a portion of coaching that my husband could not participate in and have recieved absolutely no response.
Those of you who have not signed up for coaching are wise to stay away. I believe that I may have no legal recourse but I do have word of mouth and persistence.
February 7th, 2008 at 2:20 pm
It’s not so much Loral as it is Premier Mentoring… but Loral should have some shame for this. Since I have no way of gathering all of your email addresses to contact all who have had a terrible experience with LL’s program, I will leave my email. If you are disappointed in the outcome of your Loral Langmeier experience and if you’d like some sort justice or resolution maybe people should gather together for a class action lawsuit? I’ve already got five people interested, and just started. Please email sotiredofscams@yahoo.com
Premier Mentoring more than Loral Langmeier practices high pressure and misleading sales techniques, promising things that’ll never be delivered, etc. LORAL should be accountable only because she gains some of her wealth via less-than-scrupulous paths. Oh well, if she has trouble sleeping, she can afford pills!
If you’d like to be on a list with a goal to approach an attorney for a class action lawsuit and can prepare to present your experience, email sotiredofscams@yahoo.com, and please, help us gather others who have also lost lots of money on this (some have spent over 14K!!!). THat’s the idea of a class action after all - a large group.
Kelly
February 7th, 2008 at 2:40 pm
Should there be a class action lawsuit? Email me sotiredofscams@yahoo.com
If you are disappointed in the outcome of your Loral Langmeier experience and if you’d like some sort justice or resolution maybe people should gather together for a class action. I’ve already got four people interested. Please email if you are interested too.
I believe it’d be against Premier Mentoring more than Loral Langmeier, due to high pressure and misleading sales techniques, promising things that’ll never be delivered, etc, but LORAL should be ashamed of getting her wealth via less-than-scrupulous paths. Oh well, if she has trouble sleeping, she can afford pills.
If you’d like to be on a list with a goal to approach an attorney for a class action lawsuit and can prepare to present your experience, let us know, and please, help us gather others who have also lost lots of money on this (some have spent over 14K!!!). THat’s the idea of a class action after all - a large group.
Kelly
February 19th, 2008 at 2:52 pm
I was wondering a couple of things. I just got off the phone and was quoted $14,980.00 to pay for the medium level program. The medium level program includes: 1) 3 Day Cash Machine Workshop 2) 26 Weeks of coaching at 1/2 hr every other week 3)Reading Materials 4) 9 Webinars on Real Estate Workshops 1 1/2 hr each. Why so much for mentoring? and Why is everyone asked to pay a different amount?
February 25th, 2008 at 7:02 pm
My son just called me about LL. She went to an Airforce base to drum up business. She gave him 3 autographed books, one he’s sending me to read. He was very impressed with her presentation. I got online immediately and read posts against her and mostly her cronies. It brought to mind Dean Graziosi from the info-mercials. He, too, had high pressure sales people offering coaches, looking for the “right person” because they are very particular, wanting to charge my credit card thousands of dollars. I’m very thankful to the internet allowing people to research these crooks before they can scam us out of our hard earned money. My son did everything right and held onto his money. He did obtain good information from LL, and a little knowledge never hurt anyone. I’m sad for those of you that were scammed. God Bless you. I hope somehow you get your investment back. Rose
March 9th, 2008 at 11:08 am
I was coached by one of Loral’s coaches and I attended the Big Table. In retrospect I would have done better if I had kept my money to explore other opportunities.
1) I had a money makeover by Loral. She very quickly told me things I should do with my money but gave no information on how to do the things she listed. It was all very superficial and it did not end up being very valuable or of practical use at all.
2) Coaching. My coach was someone who had a lot of financial resources and he was awful at comprehending my low resource business. He would berate me when I didn’t have money to pour into my business instead of helping me find ways to work with what I had. I learned coaching from Coach U and he did not appear to know many fundamentals of coaching- especially the part of helping a person find their own path. Instead, he wanted me to do things his way even when they weren’t right for me.
3) The Big Table. I got a lot out of the first Big Table meeting. After that, it seemed like most of the presentations were friends of Loral’s who were trying to sell their pet programs.
Loral did this one thing at the second meeting that I thought was horrible. She has everyone bring a $20, a $10, and a $5 and give them to the people that helped them the most since the first meeting. Then she has everyone line up in the order of the amount of money they were given.
This is supposed to be a lesson in that the more you give to others, the more you will get in return. It ended up feeling more like a Junior High popularity contest in my opinion. Some very outstanding people weren’t rewarded much while big names in Loral’s organization raked it in. There was a slight cruel edge to the entire lesson.
On the positive side, Loral does present some excellent financial information. She also challenges some standard ideas and that is worthwile, too. I would say, buy her books and learn from them. Avoid the big money events and look for alternatives.
March 12th, 2008 at 11:05 am
Greetings all,
I’ve been a part of the live Out loud community for almost 6 years, and Yes, the sales team along with the coaches can be aggressive at times… that’s how they make their money.
I can say though, that by entering into a relationship… any relationship, you have to do so with your eyes open, and know exactly what you expect from it… don’t let anyone be in control of you decisions.
I have had nothing but good experiences from Loral and her team because I allow them to push me on my terms, I understand what their purpose is, and I use them to MY advantage.
I started out purchasing some of the smaller ticket items, and devoured them, along with attending the free teleseminars, and then gradually progressed to the higher ticket items as I saw the logic of what I was learning, along with the benefits.
We all need to be pushed out of our comfort zones from time to time… how else do we grow?
My first purchase was Building Your Wealth Cycles… it really helped me to get my mind around where I was financially, and I was able to come up with a real plan to first, start saving some money, and then use it to create more of an income.
By listening to the direction, and learning new money rules, I was set up for success, and enjoy a comfort of living that most people never get to enjoy.
Today, I get to stay home, don’t punch anyone’s clock, work for a few hours in the mornings, work in the yard, or take my wife to breakfast… go fishing, take an afternoon nap, then work for a few more hours in the afternoon, and then do whatever I want in the evening.
It isn’t that Loral really wants to sell you her game or her book, she wants to expose you to a different way of looking at your finances, so that you can get out of whatever negativity you might be experiencing, and realize that there is a better road ahead.
It’s not about her sales team or her coaches… it’s about you becoming a part of a team that can be there to guide and help you along the way… everyone having the same goals, but each contributing their talents in their own unique way.
To those of you who are focusing on the negativity of whatever your experience may have been, I suggest that you simply brush the dust from your feet, and go find something positive to focus your energies on… there’s enough negativity in the world… why create more in your little corner of it?
Go rent “The Secret”, watch it with an open mind, even though Loral is in it, she only has a very small part, and the rest of those who contributed, are all well informed, educated people… you’ll see how we create what we project.
From my perspective, looking at my life before Live Out Loud, and today, I wouldn’t change anything… every penny I spent, and event I’ve attended, has served me well.
I hope the same for all of you
Sincerely, Dan
March 13th, 2008 at 1:40 pm
Dan… I somewhat agree with you since I too have been in Loral’s organization for many years.
My biggest beef with Loral is she is a pushy sales person. The Big Table event and every Alumni event was centered on selling you her next deal or service. In fact you must have been there for one of the Alumni events where we spent 2 hours bitching as a group to her about how no one got value from the event and there was too much selling and zero education. My problem is we paid her to be there to learn something new not hear her sales pitch. My biggest problem is that she would sell deals that she never even did due diligence on. .. which is why most of her investment “opportunities” flopped.
Loral is good for opening your mind to playing bigger. What she won’t help you do is get there. Her suggestions are unrealistic and most of the case studies in her books are based on her sexy techniques and advice. I know who those folks are and you know as well as I do they are crap and the results are over inflated to benefit her. I think if cNBC went back to the couples she has “helped” they would have an interesting “where are they now” show!
Use her energy and excitement to play bigger but then take it down a couple notches and be realistic. Her advice is often based on best case scenario – which is just bad planning in my opinion.
Save your Big Table money and DON’T INVEST IN HER OFFERED DEALS. The only one who benefits is her.
March 26th, 2008 at 3:06 am
SEND THE BOOKS AND CD SETS BACK. MAKE SURE TO GET A RETURN AUTHORIZATION NUMBER. DO NOT ACCEPT ANY OTHER OFFERS. THE COST IS TOO HIGH !!!
April 3rd, 2008 at 1:35 pm
My husband and I almost bought into this to learn more investing. Like many say their is not enough substance to justify the cost. $8,995 I returned the tapes and CD’s with autorization. They said it was a few days late. (due to Easter)and (dealing with sales people) so they would not be accepted and I will continue to be billed. I agree the sales people were rude and insulting. I own a great homebased business that deals with many many people. If you want great coaching and become a part of a team that really does care that you get the results contact me through http://www.customizedlifestyle.com
April 4th, 2008 at 7:05 am
DO NOT BUY ALL THESE STUFF YOU HEAR ON THE RADIO OR TV…. the ones who give their testimonials surely dont know shit about what they’re saying. IF someone is really rich and make a lot of money in what they’re doing, you really think they’ll shell out all that time to coach people, their direction of income changes from “so called their own experience” into selling shitty courses like Robert Kiyosaki. I may not the richest or the smartest guy on earth but I can smell bullshit where it comes out. Some of their testimonials don’t know crap on what they’re saying “i own 16 investment properties, an S corp, a C Corp, 6 LLC’s ” I’m damn sure she doesn’t know anything about business entities. just another sales pitch to sound cool and successful, if i had a lot of investment properties, i would put it under one LLC. if i had companies in different industries, i’d incorporate it under a Witholding Corporation for many benefits. jeeze these people need to know what they’re saying before they rob people of their hard earned money, money they most likely can’ risk
April 19th, 2008 at 8:33 am
Please, if you feel victimized, fill out the necessary forms! It’s not that difficult folks!
Go to http://www.ftc.gov and click on complaints. Get info together and ready beforehand. Dates, address, any notes of who you spoke with etc.
Also google Utah BBB and they have a form as well.
And please write us at sotiredofscams@yahoo.com.
Can’t expect justice if you don’t take these actions.
Premier and Loral are WAY overcharging for info that can be found for free at the library and with your state’s Small Business Association… and it sounds to me like the big table graduates are maintaining disappointment as well. This has been devastating for many people’s financial lives.
TAKE ACTION, STAND UP FOR YOURSELF IF YOU LOST, AND BE WARNED IF YOU HAVEN’T LOST YET.
April 19th, 2008 at 10:43 am
[...] eDealinfo Hot Deals: Best Bargains Coupon Codes Gift Rebates Holiday Sale Specials Lowest Price wrote an interesting post today on Comment on A Review of The Millionaire Maker by Loral Langemeier by…Here’s a quick excerpt…are WAY overcharging for info that can be found for free at the library and with your state’s Small Business Association… and it sounds to… [...]
June 11th, 2008 at 1:27 pm
Loral Langemeier is a scam artist in a long line of such people who get rich by preying on stupid people who think that reading a book and/or getting some coaching is all that is required to make money.
Have you ever heard that stupid radio commercial? “I have an S Corp, 2 C Corps, six LLC’s,” blah, blah, blah. The woman speaking is a moron (or a paid actor to sound like a moron).
If you’re dumb enough to pay this woman, then you deserve what you get.
June 17th, 2008 at 3:33 pm
You can attend a free class on investing and wealth with Loral on Saturday, June 28, in Walnut Creek. Go to http://www.jointheevolution.com for more information
June 27th, 2008 at 10:15 am
Just finished reading all the posts here. Thank you — everyone — for taking the time to contribute your thoughts and experiences! Interestingly, not one of the posters who stated that LL’s classes helped them went on to state that they are now millionaires. If they were, don’t you think they would be shouting out loud about it? And I am sorry for those who lost lots of money to Loral’s organization. Your posts saved me from potentially wasting thousands of hard-earned dollars. My husband and I talked with LL’s Dallas Anderson last night, and I was doing my “due diligence” on Loral when I found this site. We have already set up an appointment to do a “Gap Analysis” with Dallas, which I now know would have revealed how much we would have been quoted for Loral’s various services. I’ll cancel the appointment. Dallas sounded like a nice guy, but he was obviously going through a sales script. I know, I’ve done sales. During the conversation, I told Dallas that I was concerned about the cost of the program, and he politely refused to discuss costs. The reason? “It varies for everyone, and we only accept a limited number of qualified individuals because we want to develop successful people to help show what Loral’s program can do for others, and we don’t yet know whether you qualify.” This was a major red flag. Perceived scarcity motivates buyers. It is a good sales technique. Now that I know what Loral means when she said in her book that “opportunities” will be “presented” and “you have the final decision” regarding what you will do with your money [meaning that she will offer us the chance to jump into her costly seminars and pet investment projects and thereby "let" us help provide the investment capital needed to finance a risky venture in oil, gas, or real estate], and now that I know the prices for coaching can range from $3,500 to more than $15,000 or $100,000, we’ll keep our money and consult with our local S.C.O.R.E. representative.
July 4th, 2008 at 12:55 pm
It’s amazing how much negative “social proof” is available here on this post. Loral is a business woman who charges what she feels she should charge for her materials. There’s nothing illegal in doing that.
It’s not the money you spend that determines where you go in life, it’s the value that you get for those dollars invested and how you apply that value.
There are Ivy League graduates who are struggling to make ends meet RIGHT NOW and do you think they’re cursing Harvard, Princeton, etc. for putting them in their current lot in life? Of cours not!
I met a Real Estat Agent from Spain a couple of years ago at a seminar and I asked him why he came all the way from Spain to be here and he said that his Business Consultant suggested he do so.
Well long story short, his Biz Consultant doesn’t advertise and she’s available only by word of mouth apparently so she charged him $25,000 to consult with him on his RE buisiness. $25,000!!!
I asked him, was it worth it? He said that’s why he’s here because anything she touches is gold! That $25,000 was worth $250,000 to him in additional income the same year!
My point being is why knock this woman? If you don’t perceive her program to offer enough value for you go out and find