Skip to content
×
Pro Members Get Full Access
Succeed in real estate investing with proven toolkits that have helped thousands of aspiring and existing investors achieve financial freedom.
$0 TODAY
$32.50/month, billed annually after your 7-day trial.
Cancel anytime
Find the right properties and ace your analysis
Market Finder with key investor metrics for all US markets, plus a list of recommended markets.
Deal Finder with investor-focused filters and notifications for new properties
Unlimited access to 9+ rental analysis calculators and rent estimator tools
Off-market deal finding software from Invelo ($638 value)
Supercharge your network
Pro profile badge
Pro exclusive community forums and threads
Build your landlord command center
All-in-one property management software from RentRedi ($240 value)
Portfolio monitoring and accounting from Stessa
Lawyer-approved lease agreement packages for all 50-states ($4,950 value) *annual subscribers only
Shortcut the learning curve
Live Q&A sessions with experts
Webinar replay archive
50% off investing courses ($290 value)
Already a Pro Member? Sign in here

Join Over 3 Million Real Estate Investors

Create a free BiggerPockets account to comment, participate, and connect with over 3 million real estate investors.
Use your real name
By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions.
The community here is like my own little personal real estate army that I can depend upon to help me through ANY problems I come across.
Multi-Family and Apartment Investing
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

User Stats

33
Posts
7
Votes
Barry Je
  • Tacoma, WA
7
Votes |
33
Posts

Mentorship Programs - value?

Barry Je
  • Tacoma, WA
Posted Oct 10 2017, 08:55

Does anyone have experience or know anyone who has used mentorship programs in the past?  Any specific ones people would recommend?

The more I learn about this stuff, the more questions I have, and the more research I do.  I worry about the universal headaches and challenges once I take the plunge and with a job that I currently clock in about 65hrs/wk, I wonder if a mentor would be valuable for general direction, advise, and saving time as these roadblocks pop up.

I guess part of the reason I ask is...I just don't understand the motivation behind these mentorship programs.  All of them say they love teaching, but are they using it as a way to find deals that they can partner in on?  If they hold 1 seminar a month for 15 people and each costs 1k, that's nearly 200k for them annually, not including the deals they find.  I'm totally fine with all parties benefiting from the partnership, and I understand everyone has an angle, BUT I worry that mentorships and seminars like these are meant to pad THEIR salaries as delineated above, rather than provide value to me.  I've seen several advertised and some of them look VERY gimmicky whereas others seem a bit more useful.

My current salary is quite high and allows me to invest about 20k/month; however, I believe this kind of income will last about 10 years. Therefore, my goal is to replace my current income after taxes by year 10 (current job is W2, so my tax burden is high). I initially thought about turnkey investments as it seems to have less work, good returns, but I'll need to buy 1 a month for 10 years and I imagine having over 100 SFR's will become a nuisance, whereas 1 apartment building a year for 10 years after taxes (and depreciation) may net me the income to replace my job comfortably.

Loading replies...