So I have a family friend that has been in the real estate investing field for 15 years and is very successful at it. I confronted him and told him that i want to start getting into real estate. He has been helping me a lot over the past month and some of the things he has had me do i feel was just a test to check my commitment and dedication. None of these things by the way has cost me money, only time and effort. Well we have reached a point now where I think i have shown him my dedication for this so he told me to look for an email that he going to send me. That email is a mentor-ship consulting agreement and has 3 options to choose from. Looking over all three of them I can honestly say i have no idea what would be the best option to choose so im coming to the bigger pockets family for advise. Below i will have listed the 3 options and if y'all could please list from your first choice to your last choice and why. Keep in mind this is a good guy, and family friend, and I trust him. Thank you all for you help.

1. $15,000 provides you access to my 15 years of personal knowledge
and for myself to help to find your first investment property only, we
can discuss after 1st deal is closed.
or
2. 50/50 Split. You use your money and I use my creativity to find the best ROI within 90 days
or
3. 35% fee based on running equity. Investor agrees to pay a onetime 35% equity fee for all acquired property upfront.Example

Cost to buy is $25,000

Property worth $100,000

Equity is $75,000

My fee is 35% of $75,000 = $26,250 upon closing and funding.

0 Votes

9 Replies

Jump to Last Reply

Should I take this mentorship offer?

Most Popular Reply