OK, next Step...Mentor Sherman Ragland

Investor · Bowie, MD · Member since 2011 · 81 posts · 17 votes

OK, I have been going it alone attempting to wholesale for about 3 months now and I have not made that first deal yet. I live about five minutes from DCREIA and its "Dean" Sherman Ragland lives in my development on the next street. I have heard so much about him and his programs and finally gave in and joined the DCREIA and signed up for the 90 day apprentice program. In this program I am assigned a RE agent, hard money lender, wholesaling mentor and form a mastermind group with my fellow apprentices and we get that first deal during our 90 days. I know naysayers will say that I don't need a mentor or the support I will get in this program, but going it alone is difficult and I know folks who have been successful in this program and now regularly do deals. I am determined to succeed this year and will do what it takes to make that happen. I will let you know how successful I am (because I WILL be successful) during this 90 day program. Wish me luck!

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J ScottPro Member

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Investor · Sarasota, FL · Member since 2008 · 18k+ posts · 17k+ votes

14y

Originally posted by Derek Smith:

ANd to me is that all of this only costs $1600 dollars.

...

I am excited. I have folks I know who are in his 1 year VIP program who have done 5 deals and made crazy money. This program costs $11,000. But next year I am there.

Here is my issue with mentoring. It sounds like this guy has both a $1600 course and an $11,000 course. What does he teach in the $11,000 course that you're not getting with the $1600 course? And doesn't it bother you that this guy is mentoring you but holding back certain information because you're not paying for the premium course?

Seems like for $1600 he should be willing to tell you everything he knows.

I'll tell you everything I know for free if you ask...

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Ember Meadows
Real Estate Investor · Columbus, OH · Member since 2011 · 74 posts · 25 votes
14y
Derek, That sounds like a great program. To be assigned all those people to help is very creative-never heard of another guru doing this. When you say you get the first deal in 90 days-is this what they say or that they imply that you will? I am currently working with a mentor in the Columbus market, he is also over a local REIA group. Do I plan to stick with him forever? Absolutely not-as of now I am working with him and my dad-so any deals will have to be split 3 ways. However I do feel like I have learned a lot from him, and feel more confident in myself. I have been in his program almost 60 days, have made many offers-no deals yet. But as I continue to take massive action I know the deal will come.
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Derek Smith
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Investor · Bowie, MD · Member since 2011 · 81 posts · 17 votes
14y
Hello Ember, no promises of course, but that is what the program is designed to do...get that first deal. What I like about it is just what I said before. This REI group had realtors who are assigned to each 4-5 person team and brings us the MLS, helps us find deals and submit our offers so that is one critical piece. Our group mentor is very experienced and known in this area for wholesaling (that is the track I chose for immediate cash flow). And then there are financers, title companys, and attorneys all affiliated with the association. ANd to me is that all of this only costs $1600 dollars. I have paid that for a weekend seminar. He gives a 200% refund if you don't do a deal in those ninety days and have done everything they tell you in the program...but they all say that don't they. This includes mastermind group, weekly team meetings with our mentor and Mr. Ragland, online training, in person training, assistance with the deals, and the list goes on. I have done a little bit before and as I said, I have been trying wholesaling for a few months now, but I feel that having like minded individuals working with me as well as an in place team will get me to that elusive first deal and beyond. I am excited. I have folks I know who are in his 1 year VIP program who have done 5 deals and made crazy money. This program costs $11,000. But next year I am there.
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Tod R.
Investor · Southlake, TX · Member since 2009 · 950 posts · 338 votes
14y
Gotta like the intensity!

Derek, I agree that no one cannot do this on their own. You need a trusted mentor. Success isn't always self-taught! It sounds like this group has a successful track record.

Be sure to keep all of us updated with your program. As a member of BP, you will be able to supplement your training with input from other members who will give good and honest opinion and advice. I can guaranty you will be able to bring new ideas to many of us here, as well as create good debate.

Good Luck in 2012!
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Derek Smith
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Investor · Bowie, MD · Member since 2011 · 81 posts · 17 votes
14y
Thank you Tod, I will update all alonf the way.
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Curt DavisBusiness Member
Flipper/Rehabber · Memphis, TN · Member since 2008 · 5k+ posts · 2k+ votes
14y
Good luck, I think more people should take advantage or mentoring, even if there is a fair cost associated. People are going to pay one way or another!!
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J ScottPro Member
Moderator
Investor · Sarasota, FL · Member since 2008 · 18k+ posts · 17k+ votes
14y
Originally posted by Derek Smith:
ANd to me is that all of this only costs $1600 dollars.
...

I am excited. I have folks I know who are in his 1 year VIP program who have done 5 deals and made crazy money. This program costs $11,000. But next year I am there.

Here is my issue with mentoring. It sounds like this guy has both a $1600 course and an $11,000 course. What does he teach in the $11,000 course that you're not getting with the $1600 course? And doesn't it bother you that this guy is mentoring you but holding back certain information because you're not paying for the premium course?

Seems like for $1600 he should be willing to tell you everything he knows.

I'll tell you everything I know for free if you ask...
Podcast Guest on Show The Truth About Real Estate Investing in 2024 (What Investors NEED to Know)
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Derek Smith
OP
Investor · Bowie, MD · Member since 2011 · 81 posts · 17 votes
14y
I understand what you are saying J Scott. Here is the difference. the $1600 is for 3 months of hand holding and the $11,000 is for an entire year of everything I named. They will hold your hands, the agents will bring you deals, and they will walk through the entire process with you for a year. No joke, I have folks I am associated with who have done 5-6 deals so far (about 7 months into the program) who were new to real estate. Maybe they would have done it alone...maybe not. Believe me as an 18 year federal agent I am one of the most skeptical people on the planet. SO I did my due diligence. Now you said you will tell me everything for free if I ask (don't forget you said that because I WILL ask, LOL), but will you walk me through each deal, analyze them for me, be my mastermind group, etc?) Curt, thanks, you are right, I have put out way more than that buying books, tapes, seminars, systems, mailing letters and postcards, etc, etc. Sometimes you need a little personal guidance. If nothing else, I will be able to keep my Bigger Pockets family informed.
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Derek Smith
OP
Investor · Bowie, MD · Member since 2011 · 81 posts · 17 votes
14y
BTW, Love your site J.
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Derek Smith
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Investor · Bowie, MD · Member since 2011 · 81 posts · 17 votes
14y
J, I have to mention your site again. It delivers quite an education. I have learned quite a bit in just the few minutes I have been there. Such as the comparison, and advantage of your MPP formula versus the MAO formula, and the many great articles you have up. You really do deliver on your information for free statement. Good stuff man!
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James Martin
Property Management · Memphis, TN · Member since 2009 · 668 posts · 362 votes
14y
Derek is there a projected income per deal? Also do they help you build your own network or team for when your 3 months are up?
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Derek Smith
OP
Investor · Bowie, MD · Member since 2011 · 81 posts · 17 votes
14y
Hi James, yes. The relationships continue plus remember this is a REI with about 450 members so we are networking all the time. The say the average deal is about 5,000-10,000 for wholesaling. But I have seen my friends checks as low as 2500 and as high as 45,000 so I guess it depends on the deal. In this area values vary a great deal. I am in the Washington DC/Baltimore area. You can choose the track you want to be on based on your desires and experience. I chose wholesaling, but I have friends doing the REO track and I have some who are more expereinced working on the commercial track. One of my buds who is a bus driver earning 65,000 per year showed me a check he got during the 2 year program for 65K for a rehab deal.
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James Martin
Property Management · Memphis, TN · Member since 2009 · 668 posts · 362 votes
14y
The program sounds great I wish you the best going forward!
On a side note, I need to start driving a bus. lol
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Derek Smith
OP
Investor · Bowie, MD · Member since 2011 · 81 posts · 17 votes
14y
You have a nice website James. Nice family! I will update you on my progress.
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Curt DavisBusiness Member
Flipper/Rehabber · Memphis, TN · Member since 2008 · 5k+ posts · 2k+ votes
14y
There is a big difference in answering someones questions and being coached personally from someone for a specific amount of time. The funny thing I find about coaching programs and their fees are is that when you look at a wholesale transaction where you can make $10,000 on average, maybe lots more or less, my point is that in some cases to spend several thousands is mere peanuts. Those of us who are doing this business understand that a few thousand is nothing but for the new person it might be everything and they wont pay that much. The ones who understand the value dont need the coaching but the ones who do need it might not be willing to fork over the cost associated with coaching, its a double edged sword!!!
Curt Davis - KAIZEN Realty538 Reviews
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James Martin
Property Management · Memphis, TN · Member since 2009 · 668 posts · 362 votes
14y
Will do & Thanks!
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Derek Smith
OP
Investor · Bowie, MD · Member since 2011 · 81 posts · 17 votes
14y
Curt, I could not agree more. It is a personal decision and I think it is best for me. I have wasted a lot more than that trying to make things happen on my own. Not only is Mr. Ragland a well respected "coach" in my area known for his integrity, but he is also my neighbor and I see how he lives and the fruits of his labor. So I am more apt to trust him then the traveling guru who stops by my town for a weekend. I have attended seminars that cost $2500 for a weekend. Some were good, but a week later I have forgotten the info or it just did not work in my area for whatever reason. This guy lives and works in my community. My doctoral dissertation was on mentoring and I can tell you that it makes a difference. Even in Corporate Business you learn that you must emulate the successful managers and learn from then. Mr. Ragland motto is "get in motion" meaning instead of sitting around reading RE books and looking for the next best thing, lets get out there and do it. J Scott, who I have much respect for, states in his bio that he has never bought a course or attended a seminar, and I think that is great and he is doing a great job in GA. But might his success come even quicker with someone showing him the way. I have to think that without any training it took him some time to get to where he is now, 28 deals in one year. I just feel this is what is going to make the difference for me. I am in school now and a semester cost me $2500 dollars for one course...and that is theory. I get a hands on expereince with pros for 90 days for a MEASLY $1600. I would have paid that to just shadow him on one deal to be honest with you and one deal will nore than pay for the expereince. 2 Deals will pay for the VIP training. This could be a life changing expereince for me and my family and therefore...priceless. Learning ot wholesale 2-4 deals a month for me will completely change my life.
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Michael G.
Wholesaler · Bay Shore, NY · Member since 2009 · 359 posts · 199 votes
14y
I like Sherman's background and credentials. Seems well qualified in the area of REI.

I've been down the whole GURU path dressed up nicely as mentorship.

Your guy doesnt sound like a GURU but I would be very interested in how you progress.

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Derek Smith
OP
Investor · Bowie, MD · Member since 2011 · 81 posts · 17 votes
14y
Mike, I will definitely let you know.
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Tracey Williams
Investor · Columbus , OH · Member since 2010 · 311 posts · 51 votes
14y
Derek, the program sounds good but for me -I go to J Scott website for all the free stuff and it's like he his holding my hands all the way through including my rehab.
Good luck and keep up posted!
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Derek Smith
OP
Investor · Bowie, MD · Member since 2011 · 81 posts · 17 votes
14y
yes Tracey, I just discovered J today and his stuff is good.
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Tracey Williams
Investor · Columbus , OH · Member since 2010 · 311 posts · 51 votes
14y
He has the best and simplest formular for purchase price. Lots of goodies on his site, am using his paint color for my next deal
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Ember Meadows
Real Estate Investor · Columbus, OH · Member since 2011 · 74 posts · 25 votes
14y
Derek, Definitely keep us updated, when do you start the program? I honestly wish they had a similar program here! I have met people that do all these things at REIA meetings-but to be able to have all their attention for 90 days would be amazing. My mentor charges me 350 dollar a month-I get to sit down with him for 2 hours every week-we go over deals/questions and sometimes he calls leads for me that have questions on our offers. At least every other Saturday we have a group meeting with all of his students and we work on our deals and see what everyone else is doing-which is cool! Also in 2 weeks I am going to a auction and my mentor is coming with me-its a absolute auction-so I'm hoping we can steal this house-we will see what happens. Almost every one in his program tried to go at it themselves before joining, they would do marketing, look for houses-but they just got stuck at structuring deals or knowing what to say to potential sellers.

And I have to agree with you Derek that while I love BP for the free info-no one is going to give me the time I need for all my questions-answer all my phone calls/texts/emails in a timely manner unless they have a vested interest in me being successful. Since I split deals with my mentor he does. Like I said I dont want one forever-because I feel like I have the motivation/drive and bull headedness to keep going even when things are tough-but I definitely need enough knowledge to be hands on. Some things he does have saved me countless hours of time and money-and at first I did not understand. But now when I step back and see the big picture I realize some leads are just not worth pursuing-when their is too many obstacles with them for a newbie to pursue!

I had been torn forever about having a mentor or not-I really do see both sides on it-but I do feel like if its a true mentor and not just a "guru" selling you some overpriced course-that is what I ultimately needed to get going! With me paying 350 a month for 8 hours of his individual time thats about 45 bucks a hour-plus all the free group meetings with him. I have learned so much stuff!
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Will BarnardPro Member
Moderator
Developer · Santa Clarita, CA · Member since 2008 · 15k+ posts · 10k+ votes
14y
Derek,

Congrats on getting started and paking that first step. Education is key to your success. That stated, and not to burst any bubbles, but I would have to agree with jason in that anyone offering mentoring with the two different price points, as you have layed out with this program, I would be worried. I realize that if someone is at your beck and call for one year as opposed to only 3 months, they should get paid more, more time, more pay. However, I disagree that it is right or fair to hold back valuable info that a student needs just because they paid the lower of the two price points.

Furthermore, if after the 3 months you have not done a deal, I don't believe it is necessary to pay such an extreme additional fee for the next 9 months. You should have been given enough info in the first 3 months to get a deal done and all that is left is time, determination, and effort. Plus you have BP Nation, J Scott, and a ton of other members such as myself who do rehabs and wholesale deals monthly. - These options are free on this site!

One last thing - the BP Summit is coming this March in Denver, and that is only $200 for two days! J Scott, myself, and lots of other great speakers will be there to teach and network.
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J ScottPro Member
Moderator
Investor · Sarasota, FL · Member since 2008 · 18k+ posts · 17k+ votes
14y
Originally posted by Derek Smith:
J Scott, who I have much respect for, states in his bio that he has never bought a course or attended a seminar...

First, I have nothing against paid coaching, in theory...I'm not of the attitude that all paid learning is bad...as long as the student does his due diligence and puts in the *right type* of effort...

In terms of full disclosure, I did spend $59 on a half-day seminar back when I first started. The guru who presented actually did a great job of motivating me and giving me enough information that I could jump-start my first deal (without paying for her $5000 3-day course that she was pitching all day).

So, technically, it's not really true that I never attended a paid seminar... :)

That said, again, I don't have a problem with paid coaching, so long as the coach is well-proven and there's reason to believe that the value that will be delivered will outweigh the cost. In addition, I also believe that 95% of all wanna-be investors won't take action, even with a good mentor/coach -- for them, the money is wasted regardless of how good the coach is. So, it would have been better for them to fail without spending anything than to fail after spending lots of money.

There are lots of ways to succeed in business/investing, and what works for one won't necessarily work for others. Just don't assume that because something costs money that it's better than something that is free...even if you pay for courses/seminars, take the time to pursue the free avenues of learning in addition (networking with successful investors, sites like BP, etc).

Something else to keep in mind, part of the reason I've gotten pretty good at rehabbing is that I didn't have anyone to hold my hand and give me all the answers. I was forced to analyze every situation on my own and build my knowledge base from basic principles. I once mentored another newbie rehabber who did 5 successful deals in just over a year -- after those 5 he had no more knowledge of investing than he did before he met me, as I wasn't doing a good job of forcing him to learn and he wasn't a doing a good job of learning. Had he been paying me to teach him, he would have wasted his money (other than the profits on those specific deals).

So, even if you find a great coach/mentor, don't forget your responsibility as a student...
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Derek Smith
OP
Investor · Bowie, MD · Member since 2011 · 81 posts · 17 votes
14y
Absolutely J, I have been putting up bandit signs, have car magnets, have flyers in grocery stores, websites, have done post cards and yellow letters, posted classifieds on all the free sites, etc and nothing yet. Do I think it will eventually work for me without a mentor...yes, but for me this, I think is the right move. I have learned so much from your website, and some other sites as well as here. However, as I stated for the corporate world, it is proven that a mentor can accelerate your learning and progress. For Will, I don't think he is holding back, you can only learn so much in three months. I will learn all I can about rehabbing and wholesaling in the 3 months, hands on and theory. In the on year is goes into other ways of making money in Real Estate. I think J said on his site that there are hundreds of ways to in vest in real Estate. This course takes you through 13 major ways I think. But as you have all said the proof remains to be seen. BTW Jay, thank you for the rehabbing business plan and your blog on Rich vs Wealthy as it really opened my eyes to some things. As you said J I have the desire and the drive...and some knowledge, now I have the help. I wish you were here in Maryland, and in time I may find someone like you. But until then, I am happy with the decision I made. However, this is why I posted here, to get other people's opinions, so keep them coming and thank you very much. Without them I would not have J Scott's Bplan and website and several other people I can follow, learn from and become colleagues with. I won't make this years summit. But after a successful year this year you can bet I will be there to meet you next year.
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