Paid Mentorship or Go It Alone?

[Richard Galdieri]

Hello BPeeps.  

There is a company in my area that's run by a couple of guys who offer a year long "paid mentorship" on house flipping.   I'm a realtor and have done the equivalent of a flip but on 2 different houses and over the course of several years (basically a couple of slow "house hack" flips).

The benefits to these guys:

- Access to their network of lenders, deals, subcontractors

- Access to their systems/spreadsheets/worksheets

- Their expertise in acquiring, evaluating, and fixing (they practice what they preach)

- Local market area knowledge

- They pretty much hold your hand through the first deal.  Thinking someone pointing out the pile of dung before you step in it has some decent value.  

- Solid, trustworthy guys who have been around for a long time, have good reputations and solid character. 

The only thing holding me back is the money.  The "course" is ~ $15k for the year (you have their ear for as many deals as you can do in that year).  That would be a direct reduction in the amount of capital available for my first deal.  In addition I have some other resources/flippers I could lean on for help/advice that are "free", and I have a possible hands-on role with a local flipper that could actually put money into my pocket while they show me their systems. 

So my question is, do I go with these guys or go it alone?  Will going with them effectively save me $15k (or more) over what it would cost me to learn through doing my first deal on my own?  

Tired of standing on the edge of the pool watching all the other kids have fun so any advice/insight is much appreciated.

Thx in advance.

Rich

[Matt K.]

I'd rather lose 15k in a deal I do myself than pay 15k for what you're getting in that. Maybe I'm different but nearly all you mentioned can be had for free with the exception of local knowledge.