I need need help with a difficult decision!!!

[Jeiby V.]

Hi Bigger Pockets community!

I recently joined Bigger Pockets because I see that’s there’s great information for beginners like myself and the community.

I’m currently going through a small dilemma and I’m stuck between cross roads and I’m not sure which path to take out of my 2 options and I would like to receive some feedback possibly advice so I can make an educated decision.

A little bit about myself ever since a young adult I always been interested in Real Estate like many people I have spent about $10,000 over the past few years on courses and education but nothing really came of it besides understanding the basics and having 1 a week phone meetings only lasting 30 min. Like most I also have business ideas revolving real estate but I believe that in order to start any business you need to be an expert on your field.

I currently live in Newark NJ I had to go back to work for documentation purposes and me and my brother own a family business that's been passed down to us and we currently grew to a store front in Furniture Upholstery, my original plan is to purchase my first investment using a FHA 203K loan on a 3 family for cash flow, I also have an investor willing to give me $10,000 so I was planning on using his money for holding cost I'm going to put up the 3.5% down payment and closing cost. My plan is once the properties is complete rent 2 apartments out and move out within 3 months and rent out the last floor for positive cash flow, I told the investor I would give 5 months of rent as his profit, I will manage it since I want the experience anyway. In regards to the down payment I found a grant that I might be able to qualify for which is for down payment assistance and closing cost thus cutting my saving time by half.

The dilemma I’m facing is that recently I been talking to a national real estate investor and I’ve been following him for about a year in conference calls mainly, his name is Mark Pantak he’s been trying to come to develop a group in NYC for a while but it seem to be difficult for him to find a committed person. I have no problem doing the leg work providing he gives me the blue print I’ve been looking for to turn real estate into my career. His course cost 5,000 and this includes him flying out and working with me the problem is that I have the amount for the course but I don’t want to give everything I saved up because it would stop me from buying. I told him I only have 2,500 and he’s still willing to work with me in a way that once we start working and I create a deal I’ll pay the remaining for him fly do a meeting and help me close the deal. Since he’s an investor he also will purchase the deal I find “ if it’s good” I’m intrigued because he’ll be my personal mentor providing the step by step process to correctly wholesale, lease option and seller financing, and guidance is all I've been looking for.

In life I soon realized in order to learn something or anything you need to learn it from someone hence my family business I learned from my father, and that’s what I've been looking for in real estate someone to teach me without having to pay upfront cost but reality is that’s not the case for most gurus even if it cost me giving up the profits of my first 5 deals I just want to WORK!!!!!!! AND LEARN.

So I wanted to know what you guys think should I spend money it took a long time to save up to purchase my first home because I’m still saving and make mistakes learning or pay for a mentor to teach me the ropes and risk everything in “hope” of doing a deal but there’s a possibility the outcome can be much greater?

All I want is to have someone to teach me and provide the steps by steps to create a successful real estate business so I can take control back of my life I just don’t want to be burned again and waste money for nothing that’s why I’m so hesitant.

Thanks again and Remember

-The best way to predict

the future is to

Create It.-