Should I spent 12k on an real estate coaching group?

Question

After making it thru the first interview with Six Figure Flipping (6FF), I was asked, "how are you going to pay the 12k, by credit card or something else?"  I told him that I was concerned that I was not given more metrics and that I have not met my would-be coach.  I've been in on three real estate deals and still have not landed my first one.  I'm getting desperate to find some help and direction to get a multi-unit.  Does this group have clout and legitimacy in the BiggerPocket community?  What are my options?  I do not want to spend 12k without being wise about the investment.  Any alternatives?

David Lilley · Answer

@Colin C Barrett every resource you need to close your first multifamily deal is here on this forum. FOR FREE. Every one of these guru groups that charge an exorbitant amount of money to hold your hand is capitalizing on your laziness. Be honest with yourself. If you are too lazy to learn the information that is readily available why do you think spending 12k will change that?

Is it fear? There are countless members on this forum who would not mind in the slightest to give you some input on any deal you are considering. Once you have the knowledge the only thing stopping you is YOU!

Colin C Barrett · Answer

Thank you everyone for your wisdom.  I did notice that it was weird for them not to give metrics @Laura Alamery, which any good mentor would.   I've decided not to spend the 12k (@Joe Marshall).

I have found that I learn best under someone but it is true that I'm being lazy in not waiting for the right group or person.  I will keep trying to network to find partnerships and mentors.  Someone who can structure deals with me @Brett Goldsmith or a mentor who who can partner @Tom Gimer.  For now, I will check out some REI events in Chicago @Alina Trigub and check out a conference or two (Thanks @Tyler Weaver).  As @David Lilley wisely noted that BiggerPockets is free.  So maybe I'll do some self-reflection and continue to soak in the videos, forums and books recommended.

Thank you for being a wonderful, integrity-filled community!  You've probably not only saved me 12k, but also a lot of time! =)

Tom Gimer · Answer

Partner up... and perhaps pay your partner an extra $12k over the first couple of deals.

Much better investment.

Six figure flip. Translation: $000000

Bob Floss II · Answer

@Colin C Barrett Let's split the $12,000 and go to Vegas for the weekend and I'll tell you everything I know about real estate. You'll have more fun and will probably get more real information than the generic verbiage these programs sell.

Joe M. · Answer

I have no idea what that is, but I would not spend 12k on it...whatever it is

Michael Masters · Answer

No, do not waste $12,000 of your hard earned money on this course!

Instead, take my personal course for the low price of $9,999.

Send check or money order to:

Mike's Ripoff Premiere Course on Multifamily

13 Takinyercash Lane

Westport, CT

Brett Goldsmith · Answer

Spend time finding a mentor who will help educate you, close leads with you, and assist in structuring deals. If you spend time finding deals you should be able to find a good mentor. I happily mentor and assist anyone with drive who is actively marketing for deals and make it a win-win, especially from an education standpoint.

Linda S. · Answer

@Colin C Barrett,

https://www.biggerpockets.com/forums/92/topics/398...

https://www.ripoffreport.com/reports/six-figure-fl...

I guess they've increased their cost!   No chance I'd ever do it, or suggest anyone do it!

If you wanna spend money to increase your likelihood of success, go take out some GCs to dinner, and start networking!    Figuring out good, reputable people to build a team to do a flip is what will translate to money, not spending $$ on a guru

Laura Alamery · Answer

If you haven't met your coach and they aren't willing to explain things to you then no. Don't sign up for something that expensive without full details of what you'll receive. Usually all programs have good information but, like you're doing now, make sure you do full due dilligence on any coaching you pay for.

Alina Trigub · Answer

@Colin C Barrett Flipping will not teach you how to buy multifamily. If you want to buy&hold multifamily, you should look into multifamily programs. You can also go to REI networking events and start reading some MFH books.

Should I spent 12k on an real estate coaching group?

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