Do You Really Need a Mentor to Get Started in Real Estate?

by | BiggerPockets.com

Look, in my opinion, I don’t think you need a mentor. Now, if you do get a mentor, I prefer that you just let it happen naturally. But above all, be aware that the information that you need to successfully get started in real estate is online. And not just that, it’s available online for free. There are various online forums, like BiggerPockets, that offer a wealth of knowledge. On these forums, there are are some very successful real estate investors who are happy to share their knowledge for free. You can ask them questions, contribute daily, and offer your advice and input based on your experiences. Another great platform is YouTube. There are many real estate entrepreneurs like me who publish videos on house walk-throughs, market updates, tips and tricks, and more.

Understand What Information You’re Consuming Online

Now, you do you have to be cautious because there are a lot of “gurus.” Personally, I am an anti-guru guy. I don’t believe that you should pay anyone for anything like that, especially when it comes to courses, DVDs, masterminds, seminars, mentoring, etc. If you are going to pay for anything, then it should be for a one-on-one consultation. That means you should be able to sit down with this individual and spend time with them picking their brain and learning everything from them. That’s the only kind of service that I believe you should pay for related to your real estate endeavors. Again, you can find it all for free online.

How I Found My Mentor

Now, I want to share something with you before I wrap up. I want to talk about how I stumbled upon my first mentor. When I started my journey in real estate, I became obsessed with real estate investing, entrepreneurship, business, and finance. I immersed myself in anything and everything real estate and business-related. I was reading online forums, I was buying magazines, I was watching all of the different shows. You name it, I loved it, lived it, I dreamt about it, and my whole life revolved around it.

Related: 4 Things No One Tells You About Finding a Mentor (Hint: It’s Easier Than You Think!)

Then one day, I saw a a young fellow on a magazine cover with a title about how he quit his day job at 17. I immediately wanted to meet this guy and learn more about his story. So I spent the next six months keeping an eye on his online presence, emailing him, and messaging his secretary. I was very persistent. Finally, one day he invited me in for a meeting. Ever since that meeting, we have been good friends. He took me under his wing and gave me the foundation that I have today as a real estate investor. He played a big part in helping me get to where I am today by giving me that base and foundation. So I guess we can call him a mentor who became a friend whom I’ve never paid anything. That was free advice but it came because I was very persistent and showed to him I was serious about putting in the effort to become successful.

If you have a mentor, who are they? How did you meet them?

I want to know them. Post below.

About Author

Engelo Rumora

Engelo Rumora, a.k.a.”the Real Estate Dingo,” quit school at the age of 14 and played professional soccer at the age of 18. From there, he began to invest in real estate. He now owns real estate all over the world and has bought, renovated, and sold over 500 properties. He runs runs Ohio Cashflow, a turnkey real estate investment company in the country (Inc 5000 2017 & 2018) and is currently in the process of launching a real estate brokerage called List’n Sell Realty. He is also known for giving houses away to people in need and his crazy videos on YouTube. His mission in life is to be remembered as someone that gave it his all and gave it all away.

8 Comments

  1. Paul Moore

    Hi Engelo. That may be true for many people, but I will say that even though I had been investing in real estate for about 14 years, I spent a substantial sum on a paid coach/mentor and it was money well-spent. You are a very motivated person, and though I was too, I still learned a lot. And they helped me with my largest deal ever.

    I completely agree with you on your anti-guru position. Investors beware!

    Great video! Thanks for sharing, Engelo.

    • Engelo Rumora

      Thanks for your comment Paul.

      It’s hard to find a trustworthy one.

      There are too many kids running around on Instagram paying for good PR and renting a Lambo for a day posing as coaches/mentors…

      A coach or mentor is someone with years of experience and hundreds of transactions under their belt.

      They would definitely be worth the consult fee.

      Thanks again and I wish you continued success

  2. Victoria Sicilian

    My knowledge of Mentors and Gurus goes back to William Nickerson’s book: “How I turned $1,000 into 1 million in Real Estate.” (Subsequent versions of his book recorded his increases in value.) I wish that gurus today were held to some standard. Accreditation if you will. Every one of them say they are the #1 program; and worst of all, they want you to attend 3 day seminars at some hotel ballroom with a table at the back to try to sell you more programs. If you have the money, you’ll be broke at the end of this never ending spiral. I’m getting too old for seminars and tables. It would appear that Real Estate Investing is getting up the gumption to start. That said, it is also helpful to have peer/mentors similar to the meetings that Napoleon Hill discussed in his books which included Henry Ford, Firestone, Hertz and others. Each benefiting from knowledge and products of the others in their group of like-minded businessmen.

    • Engelo Rumora

      Thanks Victoria and 100% agreed.

      They all pump S#@% from the back of the room.

      It’s good to attend just to network and meet other investors but never to buy anything (Leave the credit card at home lol).

      I love the wisdom in the “Think & Grow Rich” book.

      I always endeavor to be the dumbest person in the room.

      Much success

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