BiggerPockets

Felicia, let me make a few suggestions to you to increase your chances of finding a mentor.

first, click here : http://www.biggerpockets.com/forumrules.html and read the forum posting rules about email addys in the body of your post.

second, consider properly and fully filling out and completing your profile here on BiggerPockets

Third, consider going here : http://www.biggerpockets.com/forums/55-new-member-introductions and properly introducing yourself

lastly, consider telling us a little about yourself, your experience, what you have to bring to the table for the mentor, what you expect from a/the mentor and what they should expect from you.

I hope this helps.

Whats wrong with taking 50% of profits for the first couple of deals?

I agree with you Norm, but what does the mentor get if the "student" learns the business model and never shares or completes a deal? Then the mentor is out all that time and effort. That does not seem fair to me.

I strongly agree that both parties should have a "vested interest", but in the real world, it just does not always work that way. I have taught several people specific strategies in the past with the promise that they would share the profits in their first deal or two. Do you know how many checks I cashed from that? If you guessed higher than 0, you are incorrect.

I couldn't agree more J!

Furthermore, why is it that people who charge a fee seem to get slammed by others? Why is it that the newbie should get to have free education with no "skin in the game" either?

A few people on this site always seem to argue that people can get their questions answered and have mentors for Free by simply going to their investment clubs. While that may be possible, I just don't agree it is common. In fact, I find it hard to believe that any successful investor would be willing to spend time and effort on someone without any financial consideration and the promise to get paid via a deal split rarely ever happens.

So what really is the answer? I recently developed a program in which I charge an upfront fee (although it is very small compared to what others would charge, let alone the gurus) and my students are doing well. Not only that, they will have paid me so much less in the upfront fee than 1/2 of the profits from a deal split.

I guess my question really is, as a newbie investor looking to get into the biz and succeed, why would you ever have a problem paying for your one on one education upfront (assuming it was viable and reasonable in price) if you TRUELY were committed to success and had every intention on putting forth the effort to make it happen rather than get the education and then do nothing with it? I am not sure I see a viable argument on the other side. (By the way, by this question, I am certainly not inferring that ANYONE in this thread feels one way or the other or that they are newbies who would NOT follow through, it is just a generalized question)

Rich

As stated so well. I am one of those that has mentored 100's, not asked for a fee when sometimes I questioned should I after they never did nothing with the teaching. I mean hands on teaching going to rehabs, talking to the contractors, taking pictures and seeing homes gutted and rebuilt from bottom to top. There can never be a better experience than hands on. I have been BLESSED and all I enjoy doing is seeing others be successful. But, Will and many of you others that charge a fee I have no problem with it, because if you are doing what you know to do it is well deserved. I am just one that believes that I have been blessed so I have to give back as part of my committment to SUCCESS.

All of you continue the good work and those that want to learn it is there for them. But, remember it is BETTER TO GIVE THAN RECEIVE.

I think you all are doing a FANTASTIC job keep up the good work and remember TO WHOM MUCH IS GIVEN MUCH IS REQUIRED.

SUCCESS BREEDS SUCCESS

My comment to Nick was not "slamming" others. Just a case in point.

If newbies do decide to take on this challenge/endeavor, their skin will be in the game. If their REALLY doing this, it will require money (mailings, buy lists for those mailings, business cards, paper, ink...not to mention additional gas to look at properties, and drive for dollars). Also time is money, so there is skin in the game. It comes in different fashions, not just writing a check or pulling out the plastic.

Mr Scott mentioned "he hasn't found anyone who fits that profile yet". Just like we screen for tenants, maybe potential "students" should be screened throughly too. Have a couple phone calls with them, give them assigned tasks, and follow up do see if they're getting done, if not, out the door you go! There are some ; ) that are REALLY getting down to business, or at least trying to. So all "newbies" shouldn't be put into one catagory. There are those that are looking for the easy road to wealth, while others realize that road doesn't exist.

Will mentions "why would a newbie have a problem paying up-front if they were truly committed to success"..uh...um, becasue they didn't have the money? Putting it on a credit card?? Ridiculous. The CC is for the expenses to get started.

Like Mr. Weese, I'm not ridiculing, or bashing anyone whose charging for their services. I hope EVERY one of your students do very well. But if I ever acquire the knowledge, be successful, make RE my full time job (ultimate goal) and really feel I can help someone getting started, I will do that free of charge, because I know first hand how difficult it is to started. If they do nothing with it, that's their problem. At least I know I tried to do my part to help someone. Me personally? I'm a giver, always have been, always will be. That's just me. It's good Karma.

Again no offense what meant to anyone here...just my opinion.

Humbly,

Norm

I believe those who get flack because they charge a fee for mentoring is because we are in a tight economy and there are a bunch of us who can't afford expensive mentoring.

If you have $1000 to burn for a mentor than why not learn the basics here and than use that money for an EMD for an REO or another property.

I too have also helped out countless newbie investors from RE club meetings I attend and never received a dime from them. I enjoy doing it as well and while I am there, it costs me nothing. On the other hand, providing extensive training over a long period of time (in the case of my new program - 8-16 weeks) time is money and it is necessary for me to compensate for that financially.