Peter Conti mentoring program?

Question

Have any of you participated in Peter Conti's mentoring program? He wrote"Buying Real Estate Without Cash or Credit" with David Finkel and most recently "Making Big Money Investing in Foreclosures."

I'm a newbie, belong to a REI club, have attended several day-long and weekend-long seminars (nothing over $350), and have read about a dozen books on RE investing. "Buying Real Estate" was the best "nuts and bolts" resource I have come across so far. The book simulates one of Conti's Intensive 3-day seminars, which gets students on the phone talking to sellers on day 1 and looking at properties they set appointments for by day 3. The book talks about how many calls you should make a day, and how many appointments to set. There are scripts and lots of free resources on Conti's Web site. Very useful and welcoming. In the short while I've been immersing myself in this industy, his work has been my favorite.

I'm wondering if any of you have taken any classes or boot camps or done the year-long mentoring program, and if so, what did you think of it?

Thanks!

Joshua Dorkin · Answer

Sounds like you've taken a ton of courses and read plenty of books. Have they prepared you to begin? With all of the time you're spending it sounds like you've got the know how, but might be stuck with a bit of fear? I can't comment on the materials you mention, but wonder if any more courses will make a difference. At some point, you need to get out there and start learning things first-hand.

Have you picked a market or area of investing you want to focus on yet?

(Note to all reading this - sorry to take the conversation astray, but this situation happens often and I thought it was worth exploring)

Have you picked a market or area of investing you want to focus on yet?

(Note to all reading this - sorry to take the conversation astray, but this situation happens often and I thought it was worth exploring)

Rick Harper · Answer

No I have not

Rick Harper · Answer

I want to take his course that he is the mentore

Account Closed · Answer

Phoebe,

I have read a couple of Conti's books. Some great stuff there. Some which is unique while other info you will find in other books also. There is not all that much that is new in the RE field.

What I am hearing is FUD. Fear, Uncertainity and Doubt.

You can spend money on mentoring or you can get out there and try to do deals. Doing deals costs money so spending less on education at this stage is what I would recommend.

They say that reading about sex and having sex are completely different. RE investing is rather similar. You will not notice have the details when reading a book.

You will continue to lack confidence until you have confidence. You will not have confidence in your RE ability until you train yourself. Like sports. The first time you try a new sport it feels uncomfortable. All that really means is your body is saying that it has not done it before. Your body is not saying it cannot do it. Just that it has no prior experience and things feel odd.

Mentoring can be fine. It can be an excuse for not doing anything. You feel good that you are having your hand held but you still have not actually started investing.

If you sign up are you really going to fear less? What is it that the program will really do for you that cannot be done by posting questions here, networking at the local meetings and spending time with other investors? You could take some experience investors to lunch. One on One meetings where you buy and they explain things. You get to pick their brain for the cost of lunch.

Conti has some fine programs from what I have seen. I have no experience with the mentoring program.  I know the book you are talking about. Have you actually applied the book by calling X per day as they advocate?

80% of the people who buy a seminar or other training do nothing. It is not because the material is bad. It is because the person never put into practice what they have learned. They like being a student rather than a practictioner. They like the way life is more than they want to deal with their fear of the unknown.

Do not let FUD stop you. Your problem is FUD and no amount of mentoring is really going to change that. Only you can deal with the FUD. Look to others for emotional support but look in the miror to find the person who will make a difference.

John Corey

Phoebe King · Answer

Hi Joshua. Thanks for taking the time to reply. (Love this site, BTW. I've been lurking for a while, and finally got the nerve to sign up   :green: )

A bit of fear, you say? Probably an understatement.  :wink:  I've done some scouting for other investors, made some calls and looked at some properties. I talk to other investors pretty much every day. I joined the WCRT, a local REI club, in August. It has been a great networking tool, and I have learned A LOT from the classes and workshops I have attended through the club. Everyone has been great.

I feel like I'm spinning my wheels, though. I do sort of have a target area where I've been looking. I've learned a few strategies that I am excited about implementing. But as you pointed out so kindly, fear of screwing up or making a bad decision seems to be holding me back. And I really have no clue how to negotiate with a seller.

Another thing that seems to be tripping me up is that, as you mentioned, I have gained A LOT of knowledge since joining WCRT. But it's all in bits and pieces: a free seminar on short sales here, a class on deal analysis there. I have taken classes at SBA about starting a business and finding funding, etc. I want to work with a mentor who can help tie all the pieces together, help me set realistic goals, and show me some of the "systems" I keep hearing about that will help me manage my time and business efficiently and effectively. I know many WCRT members who are working with mentors--with great success! And based on my research, Peter Conti's program seems to most closely match my ambitions and personality. So I thought I'd put out some feelers to see if anyone else has worked with his organization.

Thanks again for addressing some of my underlying issues. In addition to wanting feedback about Conti, I'd love suggestions about next steps.

Peter Conti mentoring program?

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