The last few weeks I have been certain that real estate is something I want to do and honestly believe that I can. Like going into any new, you do all you can to learn about the subject. So I have been reading and studying non-stop, attending networking meetings, even joined an REIA group.

Many articles have stated that it might be a good decision to get a coach or a mentor. Tonight that topic came up in the REIA group. To me, I see a lot of benefit in joining them -- the network, the mentorship, like-minded mentality. This all comes with a heavy price tag, though -- 20K. It is 20K that I do not have. If I were to join, I would need to take out a loan. This is what I have been debating all night. 

People of Biggerpockets, are you a part of a program/mastermind, and has the return been great? Or what are some of the pros and cons? What would you do if you are a recent grad and starting from scratch financially?

Thanks for reading.

Don't you have a non-profit REIA you can join? If you do, I bet you can get all the help you need right there for the cost of your membership.

I would not spend money on coaches and mentors.  You can get tons of help on BP for free.

Masterminds and Coaches are an incredible way to achieve very high levels of success....but I wouldnt dive into that yet even if you had the $20K. Others are right to say that you can gleam A LOT of information for FREE here on BP and at your local REIA. I would start there and establish a baseline level of knowledge and experience and only then consider a coach or mastermind group. That way you can most efficiently utilize the program. As an example, I could go out and hire the best gold coach in the world but if I have never swung a club, I'm paying A LOT for someone to show me how to swing a club. On the other hand if I go out and learn the basics, I am giving my coach a bit more to work with and the progress we make will be much more in line the the substantial costs.

Once you achieve a certain level of success, the write coach or mastermind group can catapult you to levels that you didnt realize were possible!

Just my two cents!

Some are $20,000 per year!  I go to 4 or more REIAs every month.  And after buying and selling over 900 properties, I don't need the mentoring or coaching, but there are different people, and differnet speakers with a variety of different ideas, and ways to operate within real estate.

You don't need to spend $20,000, Bigger Pockets, REIAs and books are all available at low to no costs.

Originally posted by @David Krulac :

Some are $20,000 per year!  I go to 4 or more REIAs every month.  And after buying and selling over 900 properties, I don't need the mentoring or coaching, but there are different people, and differnet speakers with a variety of different ideas, and ways to operate within real estate.

You don't need to spend $20,000, Bigger Pockets, REIAs and books are all available at low to no costs.

 I just want to point out that not "needing" a coach and not being able to benefit from using one are two different things.  Even when Tiger Woods was the best golfer in the world, he still had a coach. Not saying you should want one or run out and get one, just pointing out that achievement doesn't disqualify you from being able to benefit from coaching or Mastermind Groups.

@Patti Robertson - I have not look into but will definitely now. Thank you!

@Glenn McCrorey - You're absolutely right about being able to get a ton of help on here. 

@Michael Wagner - Funny thing, this is my local REIA group. Many of the REIA groups here have masterminds that they are offering. Like what you mentioned, I am very likely to try this out on my own before joining.

@Christy Huynh

Ultimately, it's a waste of money. Every industry is filled with gurus that are trying to separate you from your cash. Their promise is always about a faster education track to success.

Yes, there are some tricky and more advanced investment strategies, but those are really for when investors are experienced.

It doesn't take a lot of knowledge to get started in buying rental property or doing flips. Some knowledge is needed to make sure your decisions are sound (you can get that in BP), but you'd learn a lot more spending $20,000 on properties vs. putting it in someone else's wallet and still not having anything to show for it.

You can usually find free to low cost (price of dinner) local REI groups on Meetup.com. And BP is always here.

@Christy Huynh , I've been investing in real estate since before dirt was invented. I've never used a mentor or a coach.

You don't **need** a mentor or coach, but that doesn't mean they are worthless.

I like @Michael Wagner 's comment about if you've never done it before, you'll be paying someone a lot of money to teach you basic things.

I'd peruse BiggerPockets, read The Ultimate Beginner's Guide to Real Estate Investing , search for answers on the site and ask questions if you can't find them.

I would certainly hold off on spending $20,000 if you don't have it to spend.