Are real estate programs worth the cost?

Question

In your opinion, are paid mentorship programs worth it? I have seen lots of these so called gurus on many of my social media feeds. Are they worth buying into? Can you get all of the information they provide by doing your own studying/research?

Thanks

Joe Villeneuve · Answer

Information isn't education.  Information has no instructions on how to turn it into useful knowledge.

Lindsey Johnson · Answer

Some are worth it, most are not. There is SO much free information out there. A lot of these gurus charge 10k. Take a decent w2 job @$40 an hour, thats 250 hours of work to pay that. I wonder-if you took 250 hours of time and consumed every bit of free content on BP and networked your butt off, could you achieve an education and SOI equivalent to the gurus/what they offer? Yes of course you could. But most won't because its too much work. We want the easy way out. If you did decide to go with a guru-type, I would recommend Pace Morby. He puts out an insane amount of incredibly valuable content for free and then his mentorship if above and beyond. But again, its 8k. Just a matter of what you value and if youre willing to do the work.

Eliott Elias · Answer

I haven't paid a single dollar for education, I learn from real life experiences. Maybe you don't but being in real situations and failing multiple times will better teach me than any guru would

Dave Poeppelmeier · Answer

It depends on what the point of the mentorship is. Are they simply using you to bird-dog properties for them? Are they simply using you for a payday? Or are they actually teaching you something? Back in the day (2013) my wife and I wanted to learn about RE but had nobody in our families or friends circle that was involved. We spent $3-4k on Robert Kiyosaki's 6 month online program, and it was invaluable in teaching us the basics of Real Estate and is probably the best money we've ever spent. It was also before he went off the deep end of crypto/gold/etc and was still a RE Educator.

Now, a lot/most of this information is available free, BUT you have to know who to trust. Any yahoo can say they have X properties on YouTube and that they're an expert, but they're just in it for clicks and ad revenue. Bottom line, you need to know the basics: knowing how the numbers work, how to manage a property (or find a PM), getting your team set up of a Realtor/Tax Pro/Attorney/etc. After that, you just need to take the plunge and buy a property, make mistakes/learn along the way, wash/rinse/repeat. And yes, you can find all of this here on BP. Best of luck to you!

Scott Mac · Answer

If you have the down payment money and other money to make the deals happen it might be a good opportunity.

If you're investment money is not there, it might be smart to focus on getting that squared away.

Know how much you will need to make the deals happen you will be coached on.

Zero down seems like a longer shot to happen than 25% down with needed operating capital and reserves.

Meaning the student with the adequate investment money is probably going to have a much easier time of it.

It involves you too, some people are just not very coachable.

Just my 2 cents.

Kevin Crowell · Answer

It really depends on your goals and what you're looking to accomplish. Are you looking to get deals or are you looking for education? For education, you're in the best place. You can get a free education in here and YouTube. Driving to work, you can listen to Podcasts. You also need to focus on an area. What area of real estate do you want? Fix and flips, wholesaling, buy and holds? Spend your time educating yourself, pick an area, educate yourself some more. If you want to go the guru method, make sure you research the guru on BP. Don't just give your hard earned money away. Many people do and are dissapointed and I would hate to see that happen to you. Good luck with everything.

Crystal S. · Answer

One time I paid to see Ben Mallah in person for a 4 hour talk. I think it was $300 per person. The knowledge was worth more than the ammount I paid. Sometimes it’s worth paying someone who has decades of knowledge. Knowledge can save you money as well as the rarest commodity of all. Your time. That is something you can never get back.

Matt K. · Answer

I pay for things I either can't do or can't do well..... at the expense of my time. So to me, no, these gurus aren't anywhere near worth it because I lack the capital to run out of options and have the time to do as much as I want now. If that applies to you, then you'd probably see similar results. As mentioned elsewhere, there are tons of free resources out there to get you started. There are tons of ways you can move fwd without paying for someone else to spoonfeed you. Save that until you get stuck or find something that will provide measurable value.

Carlos Ptriawan · Answer

I got my biggest education:general real estate knowledge and contact from biggerpocket, the key is to know who to trust and in what particular contextsyndication, the key is to get inside the group/forum and folks that thinks like youmacro economy, from many paid bloggers that used to be asset manager,even twitter is best on this.portfolio management, from many paid professional ex asset manageranything in general, from quoraThe problem with so-called guru is they have their bias and lack of understanding as well. So you want multiple guru that teach for almost free by extracting the knowledge from question and answer (similar to quora).

Are real estate programs worth the cost?

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