DIY Mentor / JV

After the 4th time in 2 days being asked the same question about real estate investing and wholesaling, my Pavlovian response was to salivate. Wait, no that was Pavlov. Or Pavlov's dog. Or someone else's dog that Pavlov was experimenting on. I don't remember.

MY physiological response, however, was to scratch the blog itch. The question was this: "Brian, how do I approach an experience investor / wholesaler and seek mentorship without a) being presumptuous and annoying, and b) getting steamrolled by a potential bloodsucker / guru?" Okay, that's probably not a direct quote, but you get the idea. She wants to get in the game, is willing to work, but still needs to protect herself from being taken advantage of. This would seem like a fairly difficult balance to create, especially for those that are new enough to not even know what questions to ask. This is why all future newbs can come to my website, pay me a gazillion dollars, and I'll --.....oh wait, nevermind - this is BP!!! We don't do that mess here! :)

So understanding this, there's really only one way to seek help without it being a plea for charity. Find someone that is doing what you want to do, and find a way you can provide that person or his business with VALUE. No matter how active an investor is, there are holes in everyone's game. God knows I've got plenty, but that's for another day. For today, we are here to talk about how a brand new investor can move from the hamster wheel to the highway (I might regret that attempt at a metaphor).

The answer is quite simple. Find someone that is active, and pimp yourself out to them. yep that's right, I said it.. The truth is, you are the one seeking help, and both parties have to understand that. Not a show-stopper, just important for everyone to understand where everyone is in the equation. No one is offering or seeking charity. So this simple answer might sound like a great idea, but now you're left with the questions of how to materialize? Once you have found your prospective mentor, whether by email, phone, text doesn't matter, ask this question exactly as stated below, replacing my name with theirs (unless of course you'd like to ping me):

"Hey Brian, I saw you have a blog about wholesaling (short sales / preforeclosures / notes / business startup / taxes whatever), and I thought I might make you a proposition. You see, I'm in the early stages of becoming a real estate investor, and thought I might be able to offer your brand some value in turn for some experience and knowledge of doing deals. I was thinking I could find some below market deals, and have you walk me through the transaction in turn for half the profits earned. Would that be a proposition you'd be willing to consider?"

Find me one person that will turn that down. ANYONE. It won't happen. There's a reason for that, but again, another day, another post. The important thing to understand here is understanding that this is a transaction in and of itself between you and this experienced investor. Look inside and find your own cost value proposition, and realize the benefits from the exchange.

Leg-work for OJT.