Seeking Mentor/coaching

5 Replies

Hello Everyone,

I am looking for a mentor or coach to help me kick off my real estate investing business. I have attended a couple of "guru" seminars and contacted a couple of mentors that would like you to invest 10k-20k as a retainer for partnership/education. 

I would like some feed back if anyone has joined such a group or hired a mentor for that amount. Please let me know pros and cons.

I have my own thoughts about it and I would like to have someone else's opinion so that I can make a solid decision with no regrets.

Thank you in advance!

Aggressively search any local REIA groups. You may be able to get a mentor for free and or work with someone. Exchange your time and leg work for information mentorship. Good luck - also connect with people on BP that are in your area!

Good luck from a fellow Newbie! 

Originally posted by @Tristian Cox :

Aggressively search any local REIA groups. You may be able to get a mentor for free and or work with someone. Exchange your time and leg work for information mentorship. Good luck - also connect with people on BP that are in your area!

Good luck from a fellow Newbie! 

 Thanks for the advice!

Good Luck man.. not sure how far you are from a guy named Nasar Elabi - he is a rockstar wholesaler.. look him up on google (real estate duru!) I am not a wholesaler, be his mindset on real estate is kick ***! 

Real estate investing has been my profession and passion for over 12 years now.  In that 12 years, I've seen a lot of "training" outfits come and go...including those under Kiyosaki's masthead.  (Look at who he used to do his training 5 years ago...it's different today.  It's his brand that makes you buy, but the fulfillment is totally a different outfit than it used to be.  What does that tell you?)  

The only guy I have seen stand the test of time is Todd Dotson.  Moreover, I have personally taken his training and found it reality-based and practical. One of his tag lines is "hope is not a plan of action".  He gave me a specific, step-by-step game plan that was complete in and of itself.  I was really skeptical with what he taught me but having just invested some pretty good money, I took a leap of faith and followed it to the letter.

I missed the mark on the first couple of deals I got myself into.  However, following what he taught me, I was able to get myself out of them without getting hurt.  All I was out was a few bucks I had spent on office supplies and my time.

My third deal, I hit pay dirt.  I got paid and made enough money on that deal to pay for my entire training, and Todd will tell you that is his goal and should be the benchmark of any training - it should at least pay for itself.  Took me about 8 weeks for it to pay off.

I can tell you it has done far more than cover my training costs over the years.  I have made money off what I learned 12 years ago and every year since.  I have done 100's of deals, all as a result of that one 3-day training.

Another thing Todd will tell you is that he measures his success by the size of the checks his students receive not his own - he absolutely will not partner with you on deals.  He wants you to work your own. (Doesn't it seem a little bit disingenuous when the "trainer" says, "find a good deal, and if you don't know what to do with it, I'll partner with you on it"?  Really?  Did you pay 5 figures to the guy just to become his bird dog?)

Strangely enough, Todd is a little hard to reach. I don't know why.  Maybe because he's not some glitzy marketer plastered all over the place with sensational, multi-media presentations.  (I don't know about you, but the bigger the show on the front end, the less faith I have in what I'm gonna get on the back end.  Don't get me wrong.  I enjoy a show as much as the next guy, but I'm not willing to pay $15,000+ for it...especially when it is disguised as training.)

If I sound a little cynical, it's because as I said earlier, I've been in this for over a decade and seen a lot of "trainers" come and go.  I've seen a lot of people get hurt from empty promises.  One guy that comes to mind is a guy who spent $45,000 on training, maxed out his credit cards, went through all his savings, and had no more of an idea of how to do a deal than before he started. He had never gotten paid on ANY deal.  Not that first one. 

Desperate, he found me somehow and asked me to help him with a deal so he could make at least a little something.  We partnered on the deal and both got paid. 

I can tell you that story more than once.  Just different people are involved.  Before you dismiss them as "seminar junkies", ask yourself why they kept going to seminars.  It's because they didn't learn enough at the previous one to make any money.

Anyway, if you want to check Todd out, I think he is here on BP, but if not, here's the last number I have for his outfit: (800) 733-3257.  If that's not right, message me, and I'll fish a little harder for you.  I'm glad to help, and here's why...

When one of us succeeds, we all succeed because it makes our profession look good and genuinely helps people. Opportunists who call themselves "trainers" launch people into our marketplace who only think they know what they are doing.  They really don't.  All they do is a lot of damage.   They mishandle people.  When people get mishandled, what happens? They get upset, and then, they run to their state's attorney general and complain.  You know what comes next - bad for all of us.

Hope this helps you.

Originally posted by @Anthony Rivera :

Hello Everyone,

I am looking for a mentor or coach to help me kick off my real estate investing business. I have attended a couple of "guru" seminars and contacted a couple of mentors that would like you to invest 10k-20k as a retainer for partnership/education. 

I would like some feed back if anyone has joined such a group or hired a mentor for that amount. Please let me know pros and cons.

I have my own thoughts about it and I would like to have someone else's opinion so that I can make a solid decision with no regrets.

Thank you in advance!

My thoughts on individual mentors ...

First off, I have NEVER gotten a paycheck my first day on ANY job. I don't believe in giving one to anyone else, either, nor would I ask for one myself.

Also, and this probably too much to ask, telling me "go figure it out" is not mentoring. It's along the lines of "hope is not a strategy" - if I could figure it out, I wouldn't need a mentor.

The only person I would consider selecting is one who agrees to get paid only AFTER I get paid, shares his network and sources with me, introduces me to his network and sources, and is willing to extend his own resources to help me get started.

Anything other than those is just another "guru", in my book.

When I reach the point of being available to mentor others, those are the standards to which I will hold myself. If I cannot - or am unwilling to - meet them, I will bow out of any mentoring I may be offering to do.

I'm here to make a difference - not propagate the status quo.