Buying Properties With A Mentor Who Puts Up The Money

[Mordchai Lunger]

I have been doing lots of research on this site, and i have seen many people recommend going to your local REI club. So you can connect with other investors, so i contacted my local club which is BREIA. They offer a mentor program i was curious if this was what many of you recommended i start with. I spoke with one of the mentors and he was explaining the program they supply 100% of the funding and the mentor goes through every step with me. All of this sounded great to me but of course there is a catch first we split the profit 50/50 which i am fine with but they also charge a fee of $7,400 to get started with this program. Is this common for a mentor to charge such a high starting fee. Im always hearing not spend money on these guru or programs they just want your money. Do you think this is the same thing it is a lot of money but it will also make things so much easier for me.

Is this worth it or should i save my money, has anyone gone through this same experience, with a mentor or REI club has it worked out ?

[Rick H.]

@Mordchai Lunger I will simplify the concept for you even more:

Don't think of finding and buying a property "with" an investor/ mentor.

Think in terms of finding a propert "for" an investor/mentor.

You risk time and legwork. They risk money and perhaps other resources. 

This is lead generation in its simplest form. 

Depending on how green or seasoned you are and you ability to flush out profitable opportunitues tgat your mentor closes on, you become more valuable. 

When your efforts start producing results on a consistent basis, you can negotiate to take an equity position with a corresponding higher return and share of risk.

If you want specific training on niche topics, expect to pay your own way. That's called investing in yourself (education). 

That's how it works.