Fairburn, GA · Member since 2016 · 11 posts · 4 votes
I live in Atlanta, GA and over the past year I have been researching how to get stared in real estate investing. I would like to have some sort of mentor that I can help in exchange for knowledge, and somebody that I can just ask questions to and talk with.
I have been seeing across the entire city and suburbs these small road signs that advertise "Real Estate Investor Seeks Apprentice" they are all different, and some of them even make wild promises like "make $10,000 a week while you learn to invest!"
Are you guys familiar with this type of stuff? Some of these may be legit, but some of them...especially the ones who claim you will start off making $10,000 a week....sound like a scam.
How would a scam like this work? Would the first question they ask me be "are you willing to take out an $80,000 loan?
@Jeff Gersbach Most of those belong to the "Renatus" guru crowd. I like to get a few bourbons in me and call and play 20 questions about how many deals they've done this year "well..uh..umm.. " ..that's what i thought.
Its a MLM scheme with a real estate twist. You get paid for every other sucker you get to sign up, they get paid for signing up other suckers.. on and on.. and the folks at the top get your deals.
I make it a habit to pull those signs up/run them over when i see them.
Hi @Jeff Gersbach...most likely, those who are posting those signs are wholesalers or somewhat new investors looking for "Bird Dogs" or other boots on the ground help. I see the same signs in Las Vegas...where I live and am based out of. if your curious...give the number a call.
The best chance to connect with a potential mentor as you described your idea of him/her would to be go attend and network at your local REIA and/or other Meetup investor groups so you can meet actual folks who are making things happen locally.
If you have any further questions...PM me and we'll connect. Best of luck to you!
@Jeff Gersbach Most of those belong to the "Renatus" guru crowd. I like to get a few bourbons in me and call and play 20 questions about how many deals they've done this year "well..uh..umm.. " ..that's what i thought.
Its a MLM scheme with a real estate twist. You get paid for every other sucker you get to sign up, they get paid for signing up other suckers.. on and on.. and the folks at the top get your deals.
I make it a habit to pull those signs up/run them over when i see them.
The signs are a scam, legit sources do not promise income levels with no due diligence. Additionally, advertising road side with hand written signs is not a great place to start. @Jon Lee suggested some good places to start and you can also browse around BP and get contacts in your area. Good luck!
Well, now I hope it's legal to record phone conversations in Tennessee so @Account Closed, if someone was really looking for an apprentice the would just have look here on BiggerPockets. I can't count the number of times I see people in a forum asking: How do I find a mentor? What do I look for in a mentor? How can I get someone to mentor me?
Not to mention on the BP podcast (as well as other REI podcasts) you'll hear "find a mentor" advice about 1,000 times. It's not a secret, there are tons of people looking for mentors, you really don't have to put a yellow plastic sign on the side of the freeway to find them. And I've never heard of a mentor making $10,000 per week claims...