Looking For a Mentor

9 Replies

Hello Everyone I am 23 , I live in Long island looking for a mentor in New york who can help me out. I am a very quick learner. Ready to Learn 

What type of mentor do you need? From the title and your description I could not tell what you want to do.

Start attending your local REIA and meet others in your area doing what you want to be doing.

My best advice is to get in touch with a real estate agent who is also a real estate investor. These people aren't as common as you might think, but at the same time they aren't hard to find either. Just call up your local Remax office and ask the person who answers if they own investment property, and are an active investor. When they say no ask them for the name of the best investor they know and BAM, you'll be on the right track. Call the investor up and quickly tell them your story and that you would like to learn anything they can offer, follow up by asking if you can take them for breakfast or lunch and make sure you schedule a date. If you can get them in person you've got them for life!

This will help you two fold. 1. They are an investor who also has a vested interest in your success (the better you do the more commission they make) 2. They know how investing works and they know the numbers (and most agents don't).

Keep making steps towards your goals and always keep talking and asking questions about real estate!

A Mentor in real estate investing .

I think we figured that much :-).  What sort of real estate investing?  Expensive mentors seem to mostly target newbies who want to be wholesalers.  I don't consider wholesaling to be investing.  Its a job.  You need to invest cash into that business to get it off the ground.  If that's what you want to do, I think you're better off reading here and spending the $10K a mentor will charge you on your marketing to try to do deals.

If you're trying to do fix and flips, again, spend your money on finding deals.  Even with hard money, you need a lot of cash to do these deals.

If you're trying to be a landlord, attend REIAs and meet other landlords.  You don't need anything formal, just someone to ask questions about local practices.

I've read a lot on here about mentors. I came aboard wanting a mentor now. I wanted someone who was going to show me everything they know and BOOM! just lke that I'd be a millionaire.

Now that the glitz and glamour dust has settled I have a different approach. I don't think you'll find a mentor by creating a post "Looking for a mentor". You'll have better luck just talking to the people on here. There are very knowledgeable people who are willing to help you, but you have to give in order to receive.

At first I thought "what do I have to give". I actually discovered that I can contribute more than I gave myself credit for.

Now that I've met some people on here and I'm more active, people are starting to recognize me. That said, it's a lot easier to link up with someone to become a mentee.

Long story short, put the work in. This is not easy, but it's worth it.

Mentors are typically friends or close professionals that have taken a personal interest in your success and well-being, @Douglas Stewart. They offer advice and opinions free of charge with the sole purpose of helping you and with no expectation of getting anything in return. This is generally because they like you. You're not looking for a mentor, Douglas, you want a consultant. Or, in more familiar real estate terms -- a coach. 

I'm not trying to split hairs, but you can't develop a personal relationship by asking on a message board. And, no one will be able to help you when it's clear you are currently unsure of your direction.

My advice would be to attend a few real estate clubs in your area to develop an understanding of your real estate interests and available options. Here are a few in your area. You'll likely meet professionals who sell themselves as coaches (for a fee, of course) as well as others who might simply need some help. What are you good at and what can you offer? Others on this board have offered their skills and time for free, in return for learning. Here's one example. If you're lucky, this could develop into a personal mentoring relationship.

@Carla Patterson.

I thought what you said was very insightful. There is a lot that can be learned from this site and it provides an opportunity to pose questions and learn in a supportive environment.

@Douglas Stewart

Congrats on your decision to pursue a career in real estate. I am certian that if you apply yourself you will do well. While I am not really experienced enough to profess to be anybodies mentor, I could make a few suggestions. Start by reading the Ultimate Guide to REI. It's free and can be found in the learning tab. It offers a great overview. If you want to learn about wholesaling, marketing or landlording, set those words up as your keyword alerts. You will quickly find people that provide interesting insights. Ask questions and engage. Listen to the podcasts. There are lots of great ideas about how to grow a business and you can connect with the participants afterwards to follow up with questions.

Real estate, like business or life for that matter, is all about leveraging relationships. You can use this site or your local REIA to develop those relationships, but it will take a little time. OMG. I sound like my father. when the heck did that happen. ;-)

Good luck.

Stephen

Thank you everyone for your answers .

I totally understand that you have to get your face in dirt ,to get anywhere in the  real estate investing business. Also I have been researching and reading everything for the last  2 months about investing . I  heard about the investor meeting, I  will make my way down to one of those investment club meeting soon. This week I am just busy getting my real estate license .(Class from 9-6 for 11 days straight)

      Me posting here was just a shot in the wind.I wasn't expecting to get a mentor that easy . I have to go out and meet more people for connection.

@Douglas Stewart if you are truly willing to pay the big bucks some of these mentors charge, I'm sure you'll find someone.  Whether that's worth the cost is a different question.  If you're willing to offer goods, money or services for a mentor you can post in the Marketplace.  

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