BiggerPockets

A good mentor can greatly speed up yoyur learning curve and make you more money. I've been in the business for over 15 years and I still have mentors that I pay to keep me growing and expanding.

The trick is to find the right mentor. One that has your best interest at heart. I am always wary of any mentor that is looking for a cut of the action - especially one that will sell you his deal. To me that is a conflict of interest.

Before you get a mentor, get educated in the business. Make sure that you know in what area you want to specialize, and where you need help. Then look for the mentor that specializes in the area that can help you reach your goals. Also, be sure that your personality and your mentor's match. If you don't like and trust your mentor, they'll be of no service to you.

Finally, be sure to determine how accessible your mentor will be. Some will charge you a fortune, but never be personally available to answer your questions.

Good luck as you begin your career in this great business.

I don't know.... I talked to my dad and my buddy Matt Gil talked to his dad. Both are experienced, successful, veteran investors - 20+ years and each has an excess of 15 million in property. Neither had a REI mentor. Both treated it as business. Business is about cashflow. Both found ways to maximize their cashflow and took equity and appreciation as icing. When it came to specific matters of business, they went to attorneys, accountant, and financial planners.

I will say this - both of these guys are focused mofos! I don't think if either had any of the mentors I knew, the mentor would be telling them to relax a little....lol

New to the forum, curious how many people started out with a mentor.

That depends on what you mean when you say " mentor" . In the last few years, " mentor" has come to mean someone you pay to help you run your life. Personally, I think this is just plain ridiculous and it shows how weak our poplulation has become. I find it interesting (in a sick sort of way) that people can no longer run their lives by themselves. Just look at all the self-help gurus that have sprung up over the past few years. It seems that people can't even get out of bed without someone helping them. Dr. Laura, Dr. Phil, Tim Robbins, etc are all the product of a society that is largely incompetent. They are not self-motivated and don't even know the difference between right and wrong. They seek common sense (which isn't common anymore) from their mentor.

If you are talking about that type of mentor, I've never had one and hopefully never will! If you're talking about having successful friends that have helped me better understand my rental property business, yes - I've had that type of mentor. If you don't have one of these, join your local REIA and make friends with the successful investors in your area. Your new friends will be happy to help you for free. However, if you aren't self-motivated; can't drag yourself out of bed in the morning; or don't have connom sense, you'll find that successful people have little tolerance for that nonsense.

Good Luck,

Mike

Think you meant Tony Robbins there Mike - unless the method of getting out of bed is waking up and finding Susan Sarandon there. :lol:

Gives me an idea for a new mentoring program. You either do what I the mentor tell you to do or I send " The Sisters" into the shower after you... :shock:

Tim

One of the main advantages of getting a mentor for any aspect of your life is as Albert Einstein said " You can't solve a problem with the same mind that causes it" .

Many people go through life unconscious and so totally identified with their own thoughts that they think that they don't have a problem or that there is no way but their own to do things. Bringing in an outside mentor brings a new thought process that often helps overcome the unconscious thinking patterns that many people are caught in.

Up until this very instant, you have done the absolute best you can do with your life. Having said that, if you are unhappy with your current life position then you need to bring in some sort of outside resource whether that resource be a book, real estate course, or a mentor, it doesn't matter. So long as you bring in something new outside of your own mind.

Trying to change your life without bringing in any new resources is alot like putting kool aid in your gas tank everyday and wondering why your car won't move. (unless of course you have a koolaid powered car).

Mentors have helped me get on the fast track and to confirm what I was doing.
I brought deals to the table and I went on the appts. to listen in.

If it turned out to be a good deal, my mentor would buy it off me for $6k to $12k

It worked out fine. Otherwise it would of taken me longer to get to the point I am now.

E.

Investor Seeks Trainees $8k - $12k mo. po.

So, let me see if I've got this straight. You need trainees and you are PAYING $12,000 per month for those trainees? Do you really think anyone on this forum is that stupid?

Why not set yourself on a system that is continuously perfecting itself by multi-millionaires that practice what they preach and a community that is ready to give back and help build future joint venture partners to do more real estate?

So, just to be clear. You're going to pay us $12,000 per month for learning and you're throwing in your multi-millionaire prefected " system" for free? Is that what you're promising?

I'd like my $12,000 check UP FRONT!

Mike

A few things, Daniel, since this thread has already become one about you and your business . . .

First - I've had to edit many of your posts because they are all solicitations and no not belong on the site.

What is it exactly that you're selling or offering people?

Are you part of Nouveau Riche by chance?

Please tell us.

Thank you

Oh no! Not more of these NRU guys again. They can't seem to stay out of trouble around here can they!

I was hoping that the real estate downturn would have caused NRU to fold its tents and go home. I guess they're still around, sort of like cockroaches after a nuclear holocaust.

8)