Skip to content
×
Pro Members Get
Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
ANNUAL Save 16%
$32.50 /mo
$390 billed annualy
MONTHLY
$39 /mo
billed monthly
7 day free trial. Cancel anytime

Let's keep in touch

Subscribe to our newsletter for timely insights and actionable tips on your real estate journey.

By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions
Followed Discussions Followed Categories Followed People Followed Locations
Buying & Selling Real Estate
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated about 6 years ago on . Most recent reply

User Stats

9
Posts
1
Votes
Jacob Turner
1
Votes |
9
Posts

seeking advise about a mentorship I was offered

Jacob Turner
Posted
So I have a family friend that has been in the real estate investing field for 15 years and is very successful at it. I confronted him and told him that i want to start getting into real estate. He has been helping me a lot over the past month and some of the things he has had me do i feel was just a test to check my commitment and dedication. None of these things by the way has cost me money, only time and effort. Well we have reached a point now where I think i have shown him my dedication for this so he told me to look for an email that he going to send me. That email is a mentor-ship consulting agreement and has 3 options to choose from. Looking over all three of them I can honestly say i have no idea what would be the best option to choose so im coming to the bigger pockets family for advise. Below i will have listed the 3 options and if y'all could please list from your first choice to your last choice and why. Keep in mind this is a good guy, and family friend, and I trust him. Thank you all for you help.


1. $15,000 provides you access to my 15 years of personal knowledge
and for myself to help to find your first investment property only, we
can discuss after 1st deal is closed.
or
2. 50/50 Split. You use your money and I use my creativity to find the best ROI within 90 days
or
3. 35% fee based on running equity. Investor agrees to pay a onetime 35% equity fee for all acquired property upfront.ExampleCost to buy is $25,000Property worth $100,000Equity is $75,000My fee is 35% of $75,000 = $26,250 upon closing and funding.

Loading replies...