Hey guys… Its okay to have different opinions… Really… I actually wish there were a different word for what I do besides mentor…
REI_Chris
Thank you for your support, however as nice as it is I am not the guy you bought a land-lording book from. I don’t mean to embarrass you however I cant accept your kind words when they were meant for, I am assuming, one of the moderators here. I understand he wrote a great book on passive income, which I don’t preach, and we both have the same first name… His tag is Propertymanager I think…
Happy house hunting…
Michael.
PS. The amount one pays a mentor may be either too much and not enough… For me personally having a guy to hold me accountable and teach me the business for a year is worth the 1200 plus a split… However for some it isn’t… I for one never had a mentoor… Wish I had but was too stubborn to understand the value.
when I say the 100% and 50%, I’m not implying that anyone can’t do this on their own…
I’m only implying that a real newbie who hasn’t yet done any deals currently has made $0 in REI…so if it takes a mentor to help get their first few deals, and make some money, in my opinion it is a good idea.
If someone doesn’t know how to work a real estate deal, I don’t see any problem with splitting the profits 50/50 with the guy who walks you through every step of the way. Without him, there would be zero profits for the newbie to keep all to himself.
I think a profit split is a better way to pay for a real estate education than the way most gurus do it, which is that you pay them a whole bunch of money and they don’t care whether or not you ever make a deal.
If your coach doesn’t get paid unless ypou complete a deal, he’s going to pay more attention to helping you get the deal finalized.
He charges $4k for mentorship and $1200 with the split profit sharing. Doing 2-3 deals with split profits is fine, but $100k net profit is a whole lot of deals for some. Imagine splitting 30 wholesale deals with someone! :shocked
I joined Michael’s mentoring program a couple weeks ago and so far have been very pleased. Every week he has a phone meeting with you and gives you a list of tasks to do. To me, having a plan put together and being given direction has been worth every penny I have paid. I’m only on week 2 right now; however when I close my first deal I’ll let everyone know.
Thank you for the kind words… I have to say that I dont teach the philosophy of investing… people can read about that in books from barns and noble… I teach what to do daily… Its not for the weak… And not for everyone…
I have no idea if the price is too much or not enough… Just seems fair for both parties… If the investor uses the info then its way too inexpensive however if they dont its money wasted.
My goal was to charge enough for them to have something at stake however not so much that they couldn’t advertise or set their business in place.
Its an extensive program… And frankly I am banking on my ability and yours…
How so? Do you have an example? Not to put you on the spot but that is like saying a person is pretty or ugly. It has no definition. I would like to hear about your experience and they we can come to the same conclusion ourselves.
I did not go through all the threads, but I will say that Michael is a stand up guy and he has wealth of information. He actually walked me through my very first deal (I found using his marketing methods) and had someone in his office stop a foreclosure on a house I was buying to give me time to close. I have even called him while I was driving to a motivated seller to help figure out an offer. The best piece for me was the offer negotiation, which you hardly ever see in other courses (Cash teaches it as well).
I would buy Michael’s course or mentorship any day, and I would do it again without hesitating.
Now, something to keep in mind through. His methods of marketing work, but do expect to spend money on marketing. Don’t expect to buy houses just because you bought his course, you need to market like hell. It took me few months till I got it right back then. Not everyone become successful, but those who believe they can do it, will.
I have since devised my own marketing and negotiation techniques, but I will always owe my success to three people Michael, Ca$h, and someone noone knows here.
My intention was to say that I didn’t want to air details of the issues on a bulletin board.
I prefer to address them directly to who ever wants to ask privately.
I was not accusing you of being unprofessional. My apologies for the miscommunication.
I’d spend a little time reading this thread before I spent a dime on any course or “working” with a fraud like Michael Quarles. This goes for anyone “selling” info. You want to know how to really make money in RE, read every thread by FDJake. There you go, it’s free!
if so, Dennis is a great guy! tell him Fadi said hello