Thoughts on Paying To Join A Mastermind/Community

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This has been weighing heavy on my mind — the thought of paying to join a mastermind/community.

What has been your experience? Has it helped you scale? Was it a waste of your money and time? Is it worth it?

I’m thinking of joining a community that helps educate on how to raise private capital. This is one area I have specially struggled with.

[Becca F.]

Quote from @Chris Seveney:

@Felipe Corral Jr.

What you didn’t state is the price of the mastermind and is it led by one person with students that anyone can get in or a group of people who have raised mo eg?

Many “masterminds” are guru groups where the guru takes money and you learn basic education for $10,000.

Personally I would not pay for a course on raising money because the #1 thing people look for is track record, so spend your money doing some deals first then learn to raise money

 I completely agree. I attended three free webinars and the gurus did their sales pitch. One cost $5000, the second one was $18,000  to $35,000 (where you partner 50/50 with the guru meaning you put up 100% of the capital to buy the property and get access to his team of experts who find the deal for you, etc but when the property is sold you get 50%) and the third one was $10,000. They hype everything up and use examples of their success stories from their mentorship and how they walk you through everything. I think their free advice on YouTube videos or podcasts are fine but paying thousands of dollars, I don't think it's worth it. 

Instead of spending money on a program, I networked with a real estate agent in Indiana on BP who works mostly with investors and also communicated with investors in the Indianapolis area, did my research of neighborhoods, made an offer on a SFH and used that money for 20% down payment. One of the investors on here referred me to a property management company that I'm now using. The house has a signed lease and tenant is moving in soon.

That's my limiting factor also, trying to find a private lender or other way to raise money (considering fix and flip) so I can buy more properties. I don't want to do a cash out refinance again (not at these interest rates), a HELOC or pull money out of savings.