Circle of Winners

This post is from my two other blogs "Cirlce of Winners" and "CRENewsWire."

 Guru, Coach or Mentor?

Recently I logged into a forum discussing Real Estate

Guru’s. The idea was to debunk them as well as their 

material and the service that they provide.

The word intrigued me so much I decide to see what 

Webster had to say about it. Here is what he said about 

Guru, Coach and Mentor.

Guru – “An expert, a person with knowledge or expertise.”

(Buy my products and you are on your own)

Coach – “One who instructs or trains a performer or a 

team of performers.” (Buy my products and attend my 

seminars)

Mentor – “A trusted counselor or guide.” 

(No products or seminars to sell only there when needed)

When I signed up to become a member of the web site 

Bigger Pockets (www.biggerpockets.com) I had only 

one choice and that was to register as a Real Estate 

Coach. I must say according to Webster I don’t fit that 

definition. (Note: Bigger Pockets is a great site)

For years I have assisted others in business as well as 

in personal growth using the principals that I have 

applied in becoming a successful entrepreneur.

To be a successful real estate investor or real estate 

professional it is important to understand business 

principals as well as real estate. I am often asked 

questions about limited liability companies or what is 

the best management system or accounting system for 

my real estate business just to name a few.

I have always advised those whom I have mentored that 

it is important to work on your business instead of in 

your business. What I mean by this is if you are only 

doing the technical work and not equally doing the role 

of manager of your business as well as letting your 

creative juices flow as an entrepreneur you will be 

destined to almost certain failure as a business owner. 

(Remember whether you are a property owner or a real 

estate professional you are more than likely an 

independent business person or contractor.)

The Guru or the Coach will normally tell you how to do 

real estate whiles the mentor will not only tell you how

 to do it but will also show you how to do it. The mentor 

takes a personal interest in your success while the other 

two are usually product and sales oriented.

For those who are just starting out or not yet seasoned 

in the real estate arena I would recommend that you 

find a good mentor to work with you and personally 

guides you in your new venture.

Over the years I have been watching the cycles of the real estate market. In
1979 the interest rates went sky high and real estate took a real dive.

There has been other down turns in the real estate market since then and the
same psychology seems to apply each time. Ride the wave while you can
and not worry about the outcome.

Just at the start of the housing market boom my company bought a
mortgage company which was doing residential mortgages and not commercial. With
our business model we knew that the cycle would eventually turn and
there would be a bust. So we changed the company to commercial funding.

Déjà vu all over again and now we are in an economic bust. So where do we
look for the best long term investments that will provide a steady return on our
investment with the least amount of time and energy? I believe it is the
commercial real estate market for a few of the following reasons.

1.      If you invest in a multi-tenant property income producing property then
you have spread your risk should you lose a tenant.

2.      There are always investors who are looking for commercial properties
because when they sell they have to look for another property.
these investors utilize a tax benefit called the 1031 exchange.

3.      In commercial investing there are fewer regulations dealing with tenants
as opposed to residential in most states.

4.      When you look at the great wealth that has been accumulated in
real estate in this county you will find that it has been in commercial real estate and
not residential. Even Ray Kroc of McDonald’s fame said it best when he
said that we are not in the hamburger business but in the real estate business.

These are just a few thoughts about the future and where you can be when the
cycle starts it upward march. I believe it is time to start thinking and planning
so you will be ready for the next boom.

Curtis William Lee, Sr.  www.cwlsr.com