$2500.00 Mentor?

Question

Hello Everybody!

My first official post on the forums. So, here goes...

I'm a newbie investor that's been doing a lot of self educating on the various topics of REI. I'm leaning mainly towards buy and hold and flips, with a willingness to lean wholesalng so as not to miss an opportunity should it present itself. That said, Im very eager  to lean and fine tune my brief but detailed studies and thought that a MENTOR would be the best way to do that...

Anyway, I attened my first Great Lakes REIA meeting yesterday in Cleveland and got a ton of great information from the seminar host Jason Rose. He is a young guy with loads of enthusiasm and experience and I couldn't get enough of his presenation. Didn't want it end even. He offers a 4 day mentoring course for $2500.00.

Any advice from someone who has maybe taken a mentoring class from a REIA or paid to be mentored would be greatly appreciated.

To my question, should I pay $2500.00 to someone for 4 days of mentoring, or keep self educating and jump in and learn as I go, or try other avenues on finding a mentor that lasts longer than 4 days and may be a lot less money????

Thanks to all for the advice!!!

Cheers,

Brian

Jeff Wallace · Answer

@Brian Lockhart

With a question like yours, you will get a lot of responses about the accessibility of information ... in books, online, and clearly here on BP.... I agree, all the answers to your questions are easily available for free, or for the price of a book.... Having said that, I don't believe the majority of the people who pay for mentoring lack access to information ... I think there is an element of fear of the unknown that causes them to seek a mentor.  Someone to hold your hand while you are standing on the cliff looking down to the deep blue water below and say "3-2-1...JUMP!!"

From your post, I don't get the sense that you need encouragement.... Save your money for your first purchase.

jeff

Brian Lockhart · Answer

@James Wise Thanks for the reply. Sounds like I should save my money.(lol) I was hoping  you'd throw in on the coversation. Thanks a lot!! And I do plan on getting my license at Hondros in Independence in October. Thanks again James. Cheers.

Brian

Brian Lockhart · Answer

Account Closed Thanks a lot for the reply. Sound advice. I really appreciate it. Cheers.

Brian

Brian Lockhart · Answer

@Jeff W. Well said Jeff and thanks for the vote of confidence!! Great answers like yours make my decision quite clear!! Thanks so much! Cheers.

Brian

James Wise · Answer

Welcome to the site Brian.

Let me save you $2,500.

Flipping is about finding properties at steep discounts, being able to estimate the amount of work needed on a project and properly estimating the amount a home will sell for after you fix it up.

Wholesaling as its commonly defined is selling properties you do not own to buyers and earning money off of the difference between What you sold it for and what you told the seller you would buy it for. Don't do that. That is brokering without a license.

What you want to do is become a licensed agent. Market your butt off. Flip houses that fit your criteria and list those that do not.