Erica,
I am also new, And looking to do this small time while I am in the area I am in. But if I can not mentor with some one side by side, or have a direct number or email that I know they them selves answer I would not split 50/50 with any body.
In 2005 I bought into a program for 3,200 I think. The team was ok but not in the state I was living in. I learned a lot on how to set up a deal, and how to find a deal. But not how to close a deal, by the time the phone call was returned the deal had moved on.
Take it from some one who is nothing if not honest. Stay here on BP for six months. Ask any question you want, search the site for just about anything, mostly it will have been discussed already.
And if your still feeling the need to pay for a mentor then go for it. But I am telling you a local REI group is completely less expensive and more clued into your area.
In closing From a business Perspective only. I can not justify giving some one 50% of my paycheck for answering my questions when BP does it for free.
I am sure he is good and all. But if I fund the deal. say 8,000 down, hold the property say even three months @400 =1200 and what've else may arise. I am out 9,200 and for a low end first deal profit of 10,000. to split that 5,000 may not leave me feeling all that good with all that work and time and tying my money up.
Just my opinion. I am very new, But please check all your options. this is a honest post by some one who bought a mentor. And a few years later I have nothing to show for it. Been on bp for 3 or 4 months and Already a partner in my local area on a small deal.
