All Forum Posts by: Grant Rothenburger

@Edward Emerson

It can change some in different markets, typically the best way to figure it out is with 70%.

 I'd pass

@Shady Ibraheem Nice problem to have, usually people are posting with the opposite problem and asking for help.

@John Smithe

I would do similar to @Jay Hinrichs' suggestion with a modification. I'd passively invest $50k in a deal that was the asset class I thought I wanted to buy myself. See how the active investors or GP structures and executes the business plan, and implement what I learn into my own business, which is where that other $50k would come in.

@Jeff Moore I'm not in your market, so I don't know if the rules have changed. Assuming they have not, I'm not that surprised that 2 companies told you that. I'd try calling a lot more companies, those two just may not know any better. Maybe even try a real estate attorney, I prefer working directly with them vs a title company anyway.

@Brad Penley

I read most replies, not all of them, sorry if some of this has been said.

Most people against paying a mentor are saying something along the lines of "don't pay someone to teach you what you can learn for free". If all that you are getting is an education for $25k, they're probably right, you can learn it all on your own, probably take more time, but you can. The only argument I have is that you sound busy and if saving time is more important than saving money, then it may be worth it.

All that being said, for that money you should get more than an education. Some other things you may get that MAY make it worth $25k:

- Loan guarantor - if the deal is good, and your mentor is worth anything, you should have someone to secure those agency loans for you.

- Proven business plan - hopefully they have completed deals and share EXACTLY how.

- Contacts - from PM's, brokers, attorney, CPA, etc... Good contacts are very valuable

- Chance to make money on their deals. Some mentors will allow you to raise capital on their deals, in exchange you'll be on the GP side with some equity in the deal. This allows you to get credibility ("I'm GP on 250 units worth $10 million") something like that. Also allows you to make money while learning how to communicate with investors and execute a business plan (the most important part of these deals).

- Investors: Again, if it's a good deal you find, your mentor should want in on the returns, plus you'll likely have made other new contacts (other students, investors you've brought into their deals, etc..) and learned how to build your investor list.

So figure out EXACTLY what you get for $25k then you'll have a better idea of if the value is there for you.

@Gabe Eisenhuth

1) Best Ever Apartment Syndication Book - Even if you never syndicate you can learn a TON about apartment investing in general.

4) Be patient, we have the advantage of time on our side, patience and consistency are key to success. That's my takeaway from studying/working with highly successful people.

 You tell an agent your criteria for buying, they'll set you up so you get new listings every week via email. Some of my agent friends refer to it as a weekly drip.. Idk if that's common terminology.

@David Canecchio

I don't think you need to start smaller, from what you said with the numbers and the team in place, numbers look good and if you're confident in the team then do it. If you mess up, it's a learning experience.

Here is the link to April 2019's meetup: https://www.biggerpockets.com/forums/521/topics/697123-how-to-partner-with-an-experienced-rei-for-more-deals