Quote from @Taylor Waters:
Hi all, I spoke with an investor via phone that I met through Reddit. I mentioned to him that I wanted to get started with investing via wholesaling and after some chatting, he brought up his willingness to be a paid mentor for me to get my first deal.
He said he would teach me Real Estate Economics, investor psychology, and how to find and build the right product/deal for an investor
He charges $150 a call if I book a batch of calls or $195 a call if I book one at a time. The frequency would be 3 calls a month that last 1.5-2 hours each. I want to take this as seriously as possible so in my case, is this worth it, or is paying for a coach/mentor unnecessary?
Wholesaling is a terrible way to get started in RE. To do it right you need more Capital to wholesale than you need to be a multi family investor. You need a massive marketing budget, and you need to double close on the property, meaning you need the actually have the cash to buy the place.
Flipping contracts from unknowing sellers to buyers is a shady business, illegal in most states, and has a failure rate in the high 90% range.
You should refocus on making it as a safe, conservative, get rich slowly, investor. That is the best path, the tried and true path, the most boring path, the longest path, and the highest probability of success path.
You have to get rich over 30 years in Real Estate.
