Finding a mentor, how is this proposal?

[Susie Ivanov]

PROPOSAL: If I bring a good deal and I put up the capital would he rehab the property with me for a 50/50 split of the profits.

I am looking for a mentor. And I found a person who has been very successful at doing what I am working towards. Now, he is slowing down and no longer in the buy/hold area as he has good cash flowing units and is now just flipping to “keep us guys working” and is even profit sharing with them. Any thoughts? This person gave a talk in my city about real estate investing so he doesn’t really know me from Adam.

[Jonathan Greene]

This is the best way to lose all of your money very quickly. You are basically telling someone you will pay for everything and they just have to do the reno to get 1/2? You think that would be an easy proposition, but that won't find a mentor, that will find every Tom, Dick, and flash in the pan. You are saying you have a pile of money and a property and don't want to be involved. That's a cue to overcharge and underdeliver.