Is Paid Mentorship Worth it?

Question

Hi Everyone,

I’m a new investor looking to purchase my first out-of-state property by the end of this year — or at least that’s the goal.

I’m already connected with an investor-friendly agent who specializes in working with out-of-state investors and also provides guidance to newer real estate investors throughout the process. I’m currently working on getting pre-approved so I can better understand what my budget looks like.

Out of curiosity, I also reached out to a company called WNN Properties after coming across them on social media. My first impression was fairly neutral, so I scheduled a call to learn more about the services they offer. By the end of the conversation, though, I felt somewhat pressured into paying around $8,000 to join their community and participate in a six-month one-on-one mentorship program that includes access to their tools, expertise, and vetted network.

They claim that within six months I should be able to acquire at least one property generating around $300–$600 per month in cash flow, or I would qualify for a refund if I don’t acquire a property within that timeframe. However, there are several conditions attached to the guarantee. For example, to be eligible for a refund, I would need to attend at least 80% of their community sessions, submit a minimum of 200 written offers during the six-month period, provide documentation, and meet other requirements.

One of my biggest concerns as a new investor is making sure the properties I’m considering are actually smart investments and not just deals that look good on the surface. Since I’m investing out of state and still learning, I do see value in having experienced guidance and reassurance when it comes to analyzing deals, understanding risk, and building confidence in my decisions.

My question is: for someone in my current situation — who already has a target market in mind and has already started building a reliable team — would a paid mentorship program like this actually be worth it? Also, has anyone here worked with WNN Properties before and can speak to whether they’re legitimate and valuable

I greatly appreciate any advice, insight, or experiences anyone is willing to share

Doug Smith · Answer

I know I've typed this answer to this question several times on here, but it's a good question. First, I don't mind paying a pro for help. It's been said "if you think it's expensive to hire a professional, try hiring an amateur." A pro will save you money in the long run, but hotel gurus are usually very different. The saying for them is too often "those that can't do, teach." My recommendation to this question is always to go to their Linked In profile and look at their background. Do they really know what they are doing? Do they have a long-term background in the field you're paying for? During the last crash, we had just started this company after I had been a bank executive for 18 years. We started by doing private lending and nonperforming loans, but I had been handling special assets for a bank and I had a formal credit/lending background. We were invited (for free) to a local seminar put on by a national guru. It didn't take long before we turned to each other and said "we're light years ahead of this guy." I would also suggest to take stock in what you're bringing to the table and what you lack. Is it capital? construction experience? are you an architect? a plumber? deal access? experience? What is it that you specialize in and what is it you're missing? You then can then surround yourself with partners that have what you lack until you, also, have that new skill set. I have found that to be more valuable than going to the Holidome for a rah-rah weeking for $8000. That doesn't mean that you shouldn't pay your attorney, architect, agent (or your private lending/NPL underwriting consultant in our case...lol)...those people bring real value to the specific job, but it's been my experience that many if not most courses are big on hype and short on actual knowledge...and they include the "super-special training" for an additional $10K. Start with the Linked In profile. That will tell you a lot in a short time. Good luck to you.