Mentorship: All the Difference in the World

Make no mistake: I am a fledgling when it comes to real estate investing. This fledgling doesn’t know much today, but definitely knows more than he did yesterday. So why would this fledgling write about mentorship? Cuz everyone needs a good mentor! Mentors make all the difference in the world: and in this world of real estate investing, a mentor can easily be the difference between success and failure. There are two valuable qualities to find in a mentor: first, a proven track record of success in your chosen strategy. Second is the ability to communicate his or her approach to achieving success in such a way that a fledgling can understand. Let’s talk about track record.

Those who “DO” are the ones who achieve. It is that plain and simple! Mentors learn, plan, and execute their strategies. They adapt their strategies as they become more knowledgeable. Robert Kiyosaki and Ben Leybovich are successful real estate investors with their unique perspectives on buying and holding properties, and financial freedom. Robert developed the “Rich Dad, Poor Dad” franchise, and Ben created “Cash Flow Freedom University” to help others learn and understand their approaches to attaining financial freedom through real estate investing. Both programs reflect what these two investors have learned, planned, and successfully executed to achieve their respective levels of success. You may be asking, “So…what makes them mentors?” It’s their ability to communicate their principles, methods, and perspectives that make them mentors for this fledgling!

You must be able to understand the concepts your mentor shares. There is a huge disconnect when you cannot understand your mentor. You and the mentor are equally responsible for the quality of communication. This fledgling has not met Robert or Ben. However, I’ll read and re-read their articles and books, and learn more on each read. The concepts they cover are lofty indeed… yet they communicate effectively so you can wrap your brain around each concept. As a fledgling ("newbie"), you may need sites like BiggerPockets, Investopedia, or BankRate to build up your real estate investment vocabulary. That is active participation in your learning (the first part of being successful). You then understand more on the next read through. Next, build your plans with the insight and wisdom of those you trust. Executing your plan is up to you. Your mentor most likely will not do your work. However, he or she can definitely motivate and inspire while you’re taking your first steps into real estate investing, which is building your own track record….

This fledgling doesn’t know much today, but definitely knows more about mentorship than he did yesterday. Mentors have proven track records of success. More than success, they communicate their strategies, plans, and how they execute strategies and plans as they continually achieve success. So why write about mentorship as a fledgling? Cuz they are that important to your success!

That’s my rumor, and I’m sticking to it!

P.S. Please leave comments about this and previous blogs.