From the BiggerPockets Blog

 BiggerPockets Blog »

Jump to Forum View All

Click a category below to view different forum categories.

BiggerPockets

General Info

BiggerPockets Q&A, Site Questions, & Announcements

1522 topics, 14436 posts — Last Post 04/23/14, 11:39AM

BiggerPockets Exclusive PRO Area

118 topics, 844 posts — Last Post 04/23/14, 08:28AM

New Member Introductions

10968 topics, 86438 posts — Last Post 04/23/14, 12:15PM

Real Estate Success Stories

397 topics, 6188 posts — Last Post 04/23/14, 07:49AM

General Real Estate

General Real Estate

Buying & Selling Real Estate

5986 topics, 47182 posts — Last Post 04/23/14, 12:16PM

Renters

649 topics, 5856 posts — Last Post 04/23/14, 10:42AM

Get Foreclosure Help - Help Stop Foreclosure Forum

316 topics, 2557 posts — Last Post 04/21/14, 03:59PM

Home Owner Association (HOA) Issues & Problems Forum

238 topics, 1611 posts — Last Post 04/23/14, 04:02AM

Do it Yourself

658 topics, 6316 posts — Last Post 04/23/14, 09:50AM

Reviews & Feedback

Real Estate Deal Analysis and Advice

3704 topics, 29699 posts — Last Post 04/23/14, 11:00AM

Real Estate Guru, Book & Course Reviews and Discussions

1139 topics, 11596 posts — Last Post 04/23/14, 11:28AM

Ask About A Real Estate Company

743 topics, 7344 posts — Last Post 04/22/14, 11:25PM

Real Estate Investing

Real Estate Strategies

Wholesaling

5630 topics, 43908 posts — Last Post 04/23/14, 12:21PM

Rehabbing and House Flipping

3349 topics, 31094 posts — Last Post 04/23/14, 11:14AM

Real Estate Development & New Home Construction

554 topics, 4694 posts — Last Post 04/22/14, 09:17PM

Innovative Strategies

705 topics, 6044 posts — Last Post 04/22/14, 04:06PM

Tax Liens, Notes, Paper, & Cash Flows Discussion

867 topics, 6692 posts — Last Post 04/22/14, 08:22PM

Rent to Own a.k.a. Lease Purchase, Lease Options

698 topics, 4923 posts — Last Post 04/23/14, 12:22PM

1031 Exchanges

143 topics, 1062 posts — Last Post 04/22/14, 03:21PM

Foreclosure Investing

General Foreclosure & Pre-Foreclosure Forums

1691 topics, 11313 posts — Last Post 04/22/14, 09:26PM

HUD, VA, and Tax Sales

416 topics, 3102 posts — Last Post 04/22/14, 01:39PM

REOs

1217 topics, 10595 posts — Last Post 04/23/14, 09:23AM

Short Sales

1538 topics, 13139 posts — Last Post 04/22/14, 01:38PM

Landlord & Tenant Forums

Landlord & Rental Property Questions

7243 topics, 71100 posts — Last Post 04/23/14, 12:33PM

Mobile Homes & Mobile Home Park Investing

639 topics, 5144 posts — Last Post 04/23/14, 07:57AM

Investor Basics

Starting Out

7725 topics, 60648 posts — Last Post 04/23/14, 11:42AM

Investor Psychology

431 topics, 6107 posts — Last Post 04/20/14, 06:04AM

General Real Estate Investing

4727 topics, 37314 posts — Last Post 04/23/14, 12:12PM

Real Estate Investor Marketing

1737 topics, 14144 posts — Last Post 04/23/14, 12:07PM

Commercial Real Estate

Commercial Real Estate Investing Forum

1412 topics, 9004 posts — Last Post 04/23/14, 08:50AM

Multi-Family and Apartment Investing

1123 topics, 9365 posts — Last Post 04/23/14, 12:36PM

The Business of Real Estate

Real Estate Technology and the Internet

Real Estate Technology, Social Media & Blogging

644 topics, 4910 posts — Last Post 04/23/14, 10:40AM

Business Basics

Goals, Business Plans & Entities

832 topics, 7571 posts — Last Post 04/23/14, 09:48AM

Real Estate Finance & Legal

Financial, Tax, and Legal

Tax, Legal Issues, Contracts, Self-Directed IRA

2803 topics, 20131 posts — Last Post 04/23/14, 12:24PM

Property Insurance

310 topics, 2055 posts — Last Post 04/22/14, 07:38AM

Personal Finance Discussion

330 topics, 2754 posts — Last Post 04/22/14, 12:06PM

Loans, Mortgages, Credit Lines

Private & Conventional Lending Discussion

2852 topics, 19841 posts — Last Post 04/23/14, 12:23PM

Creative Real Estate Financing

1217 topics, 8845 posts — Last Post 04/23/14, 09:39AM

Crowdfunding Real Estate

35 topics, 463 posts — Last Post 04/19/14, 06:24PM

Real Estate Professionals

Real Estate Professionals

Real Estate Agents

1217 topics, 8024 posts — Last Post 04/23/14, 08:23AM

Bankers, Lenders, and Mortgage Brokers

442 topics, 1929 posts — Last Post 04/22/14, 11:03AM

Contractors

269 topics, 1690 posts — Last Post 04/22/14, 07:33AM

Local Real Estate

Local Real Estate

Local Real Estate Networking & Recommendations

2012 topics, 11723 posts — Last Post 04/23/14, 12:05PM

Americans & International Real Estate

162 topics, 568 posts — Last Post 04/14/14, 11:19AM

Foreigners Buying in the USA

62 topics, 409 posts — Last Post 04/10/14, 06:27AM

Canadian Real Estate

65 topics, 439 posts — Last Post 04/22/14, 09:27AM

Marketplace

Real Estate Marketplace

Real Estate Marketplace

15078 topics, 54101 posts — Last Post 04/23/14, 12:17PM

Real Estate Events and Happenings

167 topics, 2590 posts — Last Post 04/23/14, 09:12AM

Off-Topic

Off Topic

Off-Topic

2907 topics, 32441 posts — Last Post 04/23/14, 11:24AM

Housing News & Real Estate Market

920 topics, 8390 posts — Last Post 04/23/14, 11:47AM

BiggerPockets Real Estate Investing Summit

97 topics, 1752 posts — Last Post 04/23/14, 04:51AM

BiggerPockets Resources

Forums » Starting Out » Losing Traction

Losing Traction

10 posts by 8 users

Signup

· Glen Allen, Virginia


I don't know if I've had a bad past couple of days, or if I'm just in a bad mood, but the pros I have been asking for help want money. It has really set me in a distressed spot.

I have asked for help from people that have made it, they are successful and have multiple properties, but they won't help me. I'm not talking about on here, I'm talking about in real life, off the computer, I have asked pros that I have met how they have done things to get off the ground and they just won't help me. Why do "mentors" want money from beginners so bad? If I were a real estate success, I would help the newbies out.

For instance, I asked someone how THEY built their buyers list. Their answer was that it was a secret. Do I need to pay these people for their help really?? Do I really need to make it on my own? I understand I need to do my own legwork, but I guess I just need some direction from a real life pro. Why are some people so disinterested in being helpful? I look up to these people and want to be like them, successful and busy and wealthy, and they just won't help me.

Do all mentors just want money? I feel discouraged. Sorry for the rant and the crying and whining, but I feel like I don't know where to go next. Is it up to me to make my own mistakes and go it alone??

Sigh. Love you guys at Bigger Pockets though. Thanks for everything. Sorry again for the whining.



· West Palm Beach, Florida


The guys you are talking to, simply don't want to help their competition, as they see it. Keep digging. If you're whoesaling, other wholesalers will have this attitude. Look for experienced people on your buyers list, who might benefit from helping you along, especially if you give them "first look" on what you find.



· Glen Allen, Virginia


Originally posted by Wayne Brooks:
The guys you are talking to, simply don't want to help their competition, as they see it. Keep digging. If you're whoesaling, other wholesalers will have this attitude. Look for experienced people on your buyers list, who might benefit from helping you along, especially if you give them "first look" on what you find.

I didn't think of it like that...that they are my competition.



Real Estate Investor · Houston, Texas


every no you hear is one step closer to a yes.

Keep asking keep learning. Most people want to see that you have done some things, and are enough of a self started to get things going the right way before they open up. But keep at it, search and read this forum and that would be plenty. It was enough to get me headed the right way and many other well known investors on here that are giving back started where you and I did...here....asking simple questions.

Also, some mentors may be willing to help if you guys split profits on your first couple deals. This is a pretty fair trade for their time.

keep after it, read books, read BP, get to your local investor meetings.


Small_solid_logoSam Craven, Senna Homes
E-Mail: [email protected]
Telephone: 832-722-4815
Website: http://www.sennahomes.com
Investing in Houston Real Estate


Real Estate Investor · Ellicott City, Maryland


A few things to consider:

- The successful investors are getting asked for help every single day. Multiple times per day. So, you're not the only one asking them for help, and if you don't have an relationship with them prior to your asking, you're just one of a hundred other guys who will be asking them this year.

Idea: Build a relationship first, then ask for help.

- 90% of those who ask for mentoring will quit before they're successful. So, those you are asking for help recognize that there's a 90% chance they'd be wasting their time by saying yes.

Idea: Prove that you're serious before you ask for help. Provide some indication that you're willing to stick with it (I like to see people who have gone out and gotten their real estate license, as that proves to me they're serious about the time and effort).

- 90% of those who ask won't have access to enough capital to do a deal. So, even if the successful investors taught everything they know, the student wouldn't have much chance of being successful.

Idea: Prove that you have access to capital. At least enough cash that you can get a hard money loan or access to a private investor.

- You're asking the successful investor to teach you how to compete against them. Why would they do that for nothing in return?

Idea: Prove that any success you have will result in more success for them. Always couch every discussion in how it will help the investor, not how it will help you. Offer your services for free during the mentoring, and be willing to do grunt work.


Small_lishproplogoJ Scott, Lish Properties, LLC
E-Mail: [email protected]
Telephone: 770-906-6358
Website: http://www.123flip.com
CHECK OUT MY BIGGERPOCKETS BOOKS: http://www.biggerpockets.com/flippingbook


SFR Investor · Texas


@Brian Stone,
Where are you meeting these people?



Accountant · Garden Grove, California


J Scott, and the others, give some excellent advice.

Some other things to consider. Offer to buy them lunch and ask general questions. Bring a potential "deal" to them, (without an address), and ask them to critique the deal. Compliment them about their success, most successful folks like to have their ego's stroked! Offer to "bird dog" for them, bringing them a deal and instead of getting a "finders fee," tell them you would like to learn from them.

I suggest that you read "The Richest Man in Babylon", a short book easily readable in less than an hour, and see how he 'got started.'



· Glen Allen, Virginia


Originally posted by Brian Hoyt:
Brian Stone,
Where are you meeting these people?

Ive met a couple on CraigsList and some through REIA.



· North Brunswick, New Jersey


I was having a hard time getting started finding people to help... I went and got my RE license but still most of the agents I was meeting were salesman who didnt understand my mentality. So then i decided i wanted to learn more about different aspects of RE so I went to foreclosure auctions and Tax Lien auctions. I noticed that some groups new each other... I started just listening to what people were saying and to see who knew what. I asked a few people but mostly they were stand offish and would not talk to me. Which i do get as they see me as one more potential competitor in a tough market.... But i did notice one guy there who was at many auctions that worked for the banks... Then one day I noticed his son buy a property (same name announced when they won the bid) So I said these are the guys i need to speak with. But once a foreclosure auction is done they kick you out unless you are the winning bidder. So I researched and found the name of there company and contacted them. Turns out they have a RE agency but also do investing both on there own and with investors... The potential perfect mentors. I am working on my first deal with them now and they have been super helpful.



· Michigan


I have just closed on my first REI deal. I found a property I liked and the numbers worked so I put an offer and got accepted after a couple weeks of negotiating price/terms (seller financed).

During the process the seller said he'd be willing to mentor me, the house inspector, while answering my questions during the inspections, said he had some rentals over the years and I can have an open line for questions. I was had additional concerns about the electrical, the electrician has had houses over the years and said he is always open to talk. Even the seller's RE agent was willing to talk over things with me as they've had a couple of houses...

My point being. I started out completely on my own. And after 2 weeks of negotiated/closing this deal I left with my first rental property and handful of potential mentors and people to bounce questions off of that have been in the business for years, some even longer than I've been alive. I didn't set out for this, but as you get serious about deals, people in the field will take notice of you.





Sign up