When talking about growth shares it won’t take long for either Domino’s Pizza Enterprises Ltd. (ASX: DMP) and REA Group Limited (ASX: REA) to get a mention. These two companies have grown their earnings at a staggering average rate of 25.2% and 32.8% per annum respectively for the last decade.

Because of this and their strong future growth prospects investors are willing to pay a premium to hold their shares. The shares of Domino’s are changing hands at 67x earnings and REA Group’s are trading at 37x earnings.

Unfortunately this is a little too rich for many investors. So for those looking at investing in growth shares at reasonable prices, here are four that might be great options:

Money3 Corporation Limited (ASX: MNY)

This growing small loans company recently announced an impressive 40% increase in full year revenue to $96 million and a 54% increase in net profit after tax to $20 million. Despite this its shares are still trading at just 13x earnings. An extra bonus is the fact that the shares are expected to provide a fully franked 4% dividend in FY 2017 according to CommSec.

Mantra Group Ltd (ASX: MTR)

The share price of this leading accommodation provider has fallen sharply this year due to concerns over the rise of online accommodation marketplace Airbnb and its expansion into Hawaii. Management has dismissed these concerns and believes it is poised for solid growth on the back of Australia’s tourism boom. At 16x estimated FY 2017 earnings and providing a strong fully franked dividend, its shares look good value now in my opinion.

Pulse Health Limited (ASX: PHG)

In its recent full year results the private hospital operator grew EBITDA by an impressive 38% to $9.1 million. Better yet though is the fact that management has forecast EBITDA to grow between 48% and 70% in FY 2017. With its shares changing hands on an EV/EBITDA ratio of around 9x, this is a significant discount to industry heavyweights Ramsay Health Care Limited (ASX: RHC) and Healthscope Ltd (ASX: HSO) which are trading on EV/EBITDA ratios of around 15x.

RXP Services Ltd (ASX: RXP)

This technology consulting services company recently reported a 61% jump in full year sales and a stunning 71% increase in EBITDA. In its outlook management advised that it expects sales to continue to grow strongly for the next couple of years at least. So with its shares changing hands at just over 10x earnings and providing a fully franked 3.7% dividend, RXP Services could prove to be a great investment.

But before you make an investment in any of these shares I would highly recommend taking a look to see if you have either of these three wealth destroying shares in your portfolio. Each could be harming your portfolio right now and might be best swapped out in my opinion.

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Motley Fool contributor James Mickleboro has no position in any stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.