BiggerPockets


Who Wants To Be A Mentor?

Forum Powered By:

108 posts by 57 users

To participate in forum discussions, create a free account or login.

This topic has been locked by an administrator.

J Scott Verified Moderator Donor

Real Estate Investor from Ellicott City, Maryland

Feb 10 '13, 04:21 PM
12 votes


Is it just me, or has the number of mentor/coach/guru threads pick up tenfold over the past month or so?

Anyway, there are clearly a lot of people who are just starting out and are looking for help to get started. I've been pretty vocal about the fact that -- while there is nothing wrong with paying for a coach -- there are other, less costly avenues that can be just as, or more, fruitful for budding investors.

I've mentored a few other up-and-coming investors in the past (75% success ratio), but with the new family, I haven't had much time the past year or two. I'm thinking I might be ready again over the next few months...

I wanted to find out if any of the more seasoned investors here on BP may be interested in putting together a little "competition," where a bunch of us each takes on one new mentoring student for a few months and coaches them through a deal. We could even share mentoring tips, educational materials, etc. to make it easier for each of us and our students.

Perhaps even a larger group mentoring session on a monthly basis by phone or Skype, in addition to the local 1:1 coaching.

Any BP folks interested in potentially joining me in taking on a new student in 2013?



Medium_lishproplogoJ Scott, Lish Properties, LLC
E-Mail: [email protected]
Website: http://www.123flip.com
CHECK OUT MY BIGGERPOCKETS BOOKS: http://www.biggerpockets.com/flippingbook


Ned Carey Moderator

Wholesaler from Baltimore, Maryland

Feb 10 '13, 04:34 PM
1 vote


@J Scott what a cool idea. I am not sure I have the time to commit right now but I like the idea. Were you thinking working closely with someone local or long distance via phone/e-mail?



Medium_crab1_copyNed Carey, Crab Properties LLC
Website: http://baltimorerealestateinvestingblog.com/
http://baltimorerealestateinvestingblog.com/


Dean Letfus

Real Estate Investor from Memphis, Tennessee

Feb 10 '13, 04:42 PM
1 vote


I get asked almost daily to train people in Memphis and I am not even an American :-). I thin it is better for people to find a wholesaler in their city and start finding for them instead of wasting money on mentoring, especially right now in this market.

If you can fog a mirror you can make money over here :-)



Anthony Dennis

Real Estate Investor from Houston, Texas

Feb 10 '13, 04:55 PM


What an awesome gesture @J Scott. I know I need a mentor. lol



Karen Margrave Moderator

Developer from Orange County, California

Feb 10 '13, 04:57 PM
3 votes


@J ScottI agree with you that there are a lot of new threads on the subjects of mentoring and gurus. Our projects are new construction, so mentoring wholesalers, or rehabbers doesn't fit in with our business.

However; I have several different people through BP that I correspond with wanting to learn about development/construction, and also real estate agents needing help on various subjects.

I actually did my first blog the other day on development, to try to give people an idea of what our process is, etc., and will be doing another one this week.

I know you always have great input on BP J and I'm sure newbies would be thrilled to have you mentor them. I hope some of the other members jump in and take you up on the competition, maybe @ Will Barnard, it would be fun for all of us to follow! Good luck.



Medium_tmg2Karen Margrave, The Margrave Group
E-Mail: [email protected]
Telephone: 949-933-3955
Website: http://www.themargravegroup.com
Licensed Brokers & General Contractors R.E. Developers (Parlay Investments). Orange County CA


J Scott Verified Moderator Donor

Real Estate Investor from Ellicott City, Maryland

Feb 10 '13, 05:07 PM
2 votes


Originally posted by Dean Letfus:
I thin it is better for people to find a wholesaler in their city and start finding for them instead of wasting money on mentoring, especially right now in this market.

I don't know much about wholesaling, so I'd have to stick to teaching about rehabbing...

And I'm talking about mentoring (no fees involved!), so hopefully we wouldn't be a waste of anyone's money... :)



Medium_lishproplogoJ Scott, Lish Properties, LLC
E-Mail: [email protected]
Website: http://www.123flip.com
CHECK OUT MY BIGGERPOCKETS BOOKS: http://www.biggerpockets.com/flippingbook


J Scott Verified Moderator Donor

Real Estate Investor from Ellicott City, Maryland

Feb 10 '13, 05:08 PM


Originally posted by Ned Carey:
J Scott what a cool idea. I am not sure I have the time to commit right now but I like the idea. Were you thinking working closely with someone local or long distance via phone/e-mail?

I'm not sure I'd be able to mentor long distance very effectively...so (for me, at least), it would be someone local. The 4 other people I've mentored were all within 30 minutes driving distance to my projects.



Medium_lishproplogoJ Scott, Lish Properties, LLC
E-Mail: [email protected]
Website: http://www.123flip.com
CHECK OUT MY BIGGERPOCKETS BOOKS: http://www.biggerpockets.com/flippingbook


Brandon Foken

Real Estate Investor from San Francisco, California

Feb 10 '13, 06:23 PM


Very cool idea, @J Scott! I've never been to Georgia, but now wish I was close by. I, too, have noticed an uptick in the number of threads asking for a mentor - I almost didn't click this one because I've seen so many the last few weeks/months.

I'm looking for a mentor in the Bay Area, but trying to follow the advice I've heard from you, Will and others on these forums: add value to the relationship. So, with that in mind I'm trying to get a house under contract first before approaching people about a prospective mentorship focused on rehabbing and value analysis. The hope is to collect knowledge instead of an assignment fee. In order to accomplish this goal, I've already sent out ~950 pieces of direct mail. While response from the first mailer hasn't been great, I'm changing some things up and looking forward to getting out #2 here in two weeks.

Again, great idea and I hope someone from the Bay Area wants to join in!



Diana Brickett

Real Estate Investor from New Albany, Indiana

Feb 10 '13, 06:23 PM
5 votes


Hey all,

Being a 'newbie' I just want to say that it's so refreshing to hear that a lot of you seasoned investors want to help others learn as much as possible. There are always going to be people who want 25K (not mentioning any names) to show you the way. :/ I have learned soo much in the last few weeks, I would have been kicking myself if I paid all that money and found this site a day later!

Anyhow, thank you all so much! Great thread J!

-Diana



Karen Margrave Moderator

Developer from Orange County, California

Feb 10 '13, 06:29 PM


@Diana Brickett Welcome to BP! For every niche in real estate investing, BP has a wealth of information... and if by some chance it's not already here, someone here will know it. Everybody, no matter how experienced finds useful information here!



Medium_tmg2Karen Margrave, The Margrave Group
E-Mail: [email protected]
Telephone: 949-933-3955
Website: http://www.themargravegroup.com
Licensed Brokers & General Contractors R.E. Developers (Parlay Investments). Orange County CA


Ben Leybovich Video

Real Estate Investor from Lima, Ohio

Feb 10 '13, 06:38 PM


@J Scott You might be onto something…tell me more.



Medium_logo_03Ben Leybovich, JustAskBenWhy.com
E-Mail: [email protected]
Telephone: 1.888.508.9643
Website: http://www.JustAskBenWhy.com
Ben Leybovich, Syndicator / Creator of Cash Flow Freedom University http://www.JustAskBenWhy.com


Chukwudi Motanya

Bird-dogger from Lithonia, Georgia

Feb 10 '13, 06:42 PM


I'd be very interested in being mentored if this takes off the ground. Although My plan will be to purchase my 1st property this summer



Michael Galloway

Real Estate Investor from Brentwood, California

Feb 10 '13, 06:45 PM


@J Scott, i would love to mentor someone. This sounds like a great idea. Anyone in the San Francisco Bay Area ready to learn?

Any specifics? no money? no credit?



Sydnie E.

Los Angeles, California

Feb 10 '13, 06:52 PM


J,I appreciate your post and willingness to offer your time to some of less experienced investors. If only you were local :( I would love to find a mentor in the LA area or surrounding cities. Most PML's want you to have 3-5 deals under your belt before they work with you, which is hard to do with no hands on experience. I hope that more will be willing to offer their services. Great idea! Thank you for recognizing the need in this industry.



Sydnie E.

Los Angeles, California

Feb 10 '13, 07:01 PM


Michael , your location indicates Brentwood, California or are you in the Bay Area?



Michael Galloway

Real Estate Investor from Brentwood, California

Feb 10 '13, 07:09 PM


Brentwood - northern california,



Chris Clothier Verified Donor

Real Estate Investor from memphis, Tennessee

Feb 10 '13, 07:43 PM


Originally posted by J Scott:

Perhaps even a larger group mentoring session on a monthly basis by phone or Skype, in addition to the local 1:1 coaching.

Any BP folks interested in potentially joining me in taking on a new student in 2013?

J - Let's catch up when you can. I like the idea and want to bounce a little variation off of you tying it back to BP.

The sharing and collaborating between everyone may end up being the best part of your idea so everyone else can see it as well. I'd be up for hearing more and figuring out how to make a little "competition" come to fruition.

Chris



Medium_new_mi_logoChris Clothier, Memphis Invest, GP
Telephone: 901-212-9647
Website: http://www.memphisinvest.com
www.MemphisInvest.com 1(877)-773-9998 Chris D Clothier


Jerry Puckett Verified

Wholesaler from Irving, Texas

Feb 10 '13, 07:46 PM
7 votes


Oh yes, very interested. I coached 4 newbies through their first wholesale deal last year, and I'd like to double that this year. I haven't charged for the coaching per se, I only charged for the marketing (which they would need to do anyway, and I needed at least a little skin in the game to avoid time wasters) and then coached them step by step on how to use it. Only 1 was local, the others were scattered from Denver to Florida.

I would be completely open to a group that shares tips and educational materials...and in effect (I think) would help me reach more people. I'm also down with the competition angle. One of my students netted 34k off their very first wholesale deal, and I've been strutting around like a peacock ever since.

Great idea Jason, I'd love to be a part of it. (I'd @mention you, but can't on my phone. Maybe you have your name in your keyword alerts... " J. Scott"



Medium_mlaw_logo_v1Jerry Puckett, New Refined Images LLC
E-Mail: [email protected]
Telephone: (214) 699-7565
Website: http://marketlikeawholesaler.com
I help Investors buy wholesale | Direct Mail & Internet Marketing


Joshua Dorkin Verified Donor

BiggerPockets Founder from Denver, Colorado

Feb 10 '13, 07:51 PM
3 votes


Wait . . . a real-life experienced and successful investor offering to mentor and he's not charging tens of thousands of dollars or your first born. That can't be right?!?



Medium_bp-squareJoshua Dorkin, BiggerPockets
E-Mail: [email protected]
Telephone: 877-831-4704
Website: http://www.biggerpockets.com
Get your logo in your signature too! Upgrade to PRO Today at http://www.biggerpockets.com/pro


Will Barnard Verified Moderator Donor

Real Estate Investor from Santa Clarita, California

Feb 10 '13, 07:54 PM
1 vote


Interesting idea, especially the collaboration between mentors and making this somewhat public for all to see. I would be down if and when I had the extra time. Swamped right now, but perhaps possible with help from other mentors. Love the idea J



Medium_be_logoWill Barnard, Barnard Enterprises, Inc.
E-Mail: [email protected]
Website: http://www.barnardenterprises.com
http://www.InvestorExperts.com - For all Southern California House Flippers, Agents, and Wholesalers


To post a reply or start a new discussion, create a free account or login.

Manage Keyword Alerts

View All Forums