REIGs vs going solo

REIGs vs going solo

Member since 2019 · 3 posts · 3 votes

Hey everyone,

I've been diving deep into the world of real estate lately, even got myself licensed! But here's the thing: while I've been taking my time, some friends of mine went all in and joined this Real Estate Investment Group (REIG). It cost them $5,000 upfront plus another $5,000 for each of their first three flips, totaling $20,000. And guess what? They've been knocking it out of the park with profitable flips left and right!

Now, I'm sitting here wondering if I should follow suit. But here's where I'm scratching my head: this REIG doesn't seem to have a proper name or a website I can check out. Seems a bit sketchy, right?

On one hand, I'm super impressed by how much my friends have learned and earned since joining. But on the other hand, I can't shake off this feeling that maybe it's too good to be true. So, here I am, seeking your sage advice: should I jump on board with my buddies and join this mysterious REIG, or should I stick to my own path and keep building my skills solo?

I'd love to hear your thoughts and experiences on this one. Thanks a bunch in advance!

Cheers,

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  • Investor · Manhattan, KS · Member since 2020 · 80 posts · 52 votes
    2y

    @Edwin Correa - I would do some deal analysis on your friends' flips.  Hopefully they're making more than $5000 per flip.

    I don't know, but it is very likely that the $5000 per flip is the wholesaler's fee for finding the deal.

    As well, think of the money spent as education costs.  I know I spent more than $20K on my degree from college.

    Also, you don't have to sign up to the REIG for life do you?  Maybe do a year or two of it, learn how to flip, establish a team of your own, and then go out on your own.

    Either way, good luck.

  • Jake BakerBusiness Member
    Flipper/Rehabber · San Diego, CA · Member since 2020 · 1k+ posts · 695 votes
    2y

    @Edwin Correa

    I have joined several groups along the way. You can learn all you need to get started from the BP bookstore. I have found my groups to be invaluable but you typically don't see the ROI right away.

    BookkeepingRE - Bookkeeping for Real Estate & Service-Based Businesses58 Reviews
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