Real Estate Investor · Atlanta, GA · Member since 2009 · 40 posts · 2 votes
Why is it so hard to find a R/E mentor ? I am a hard working, educated individual looking to learn from a professional real estate investor w/ experience. I am not allergic to hard work, but a i am allergic to being broke.. :D
Why is it so hard to find a R/E mentor ? I am a hard working, educated individual looking to learn from a professional real estate investor w/ experience. I am not allergic to hard work, but a i am allergic to being broke.. :D
Please feel free to contact me..
Because a RE mentor is the worst idea Man could ever think of. Why not use that money for the initial downpayment of the house?
Why is it so hard to find a R/E mentor ? I am a hard working, educated individual looking to learn from a professional real estate investor w/ experience. I am not allergic to hard work, but a i am allergic to being broke.. :D
Please feel free to contact me..
Because a RE mentor is the worst idea Man could ever think of. Why not use that money for the initial downpayment of the house?
the idea is he wouldn't know if that house would be a good house to put money down on, and more specifically he said he's broke.
Why is it so hard to find a R/E mentor ? I am a hard working, educated individual looking to learn from a professional real estate investor w/ experience. I am not allergic to hard work, but a i am allergic to being broke.. :D
Please feel free to contact me..
Because a RE mentor is the worst idea Man could ever think of. Why not use that money for the initial downpayment of the house?
the idea is he wouldn't know if that house would be a good house to put money down on, and more specifically he said he's broke.
There is nothing more to real estate than what he would know. Real estate is the simplest investment opportunity in the world and you really shouldn't use a mentor to teach you these stuffs. It's not rocket science!
I don't agree. Having a mentor to help you break into real estate is a fantastic idea. The way you find a mentor is the difference (don't pay $15,000 for a coaching program). I recommend joining a local Real Estate Investment Club and look to find someone that would be willing to teach you the ropes, do a joint venture etc. and read books that you can pick up at the local book store.
The 3% who succeed in real estate investing all have one thing in common.
They all have mentors. Having one is crucial for your success. I had mentors when I started in real estate and even after buying several properties, I continue to have mentors today. I need their guidance and inspiration like I need oxygen. The only time I won't need a mentor is when I am dead. Seriously!
Agree with the comment about real estate clubs. Go and meet people. Find people in your area that do this, and ask them. Be bold. You don't have to pay for this. If you let someone experienced know you are willing to work hard, you will find someone.
The 3% who succeed in real estate investing all have one thing in common.
They all have mentors
I'd sure like to see a reference for both parts of this quote. 3% of what group? Everyone who thinks about investing? Everyone who buys a property? Or what? Where does this 3% come from? What does success mean? Live on a tropical island surrounded by hot women or men? Sell one property for a profit?
They all have mentors? Where does that "fact" come from?
Sorry, but without a hard citation, that sure sounds made up. Not by you, Trace, but by somebody. And then passed around as fact.
What are some other ways of finding mentors than at REI clubs? I live in Arkansas, and I have yet to find a club or a mentor. Im wanting to learn how to become an investor, and I don't have a clue how to get started. A mentor is a deffinate must for me.
Everyone has made valid points, but i also feel that some people are great starters and others need that little push or guidance to get them started.... I am a hands on learner and a mentor would help me out alot... Like i said before finding one is the hard part..
What i mean, when i say mentor is, someone to follow around, call when i need advice about a deal or partner with when needed. Someone to teach me the ins and outs of the business... Everyone learned from someone, sometime in there business life.
It sounds like you want two things from a mentor--information and motivation.
You can get information from books, courses, forums, articles, people in your local REIA, or other local investors.
About motivation, well, I might be a jerk but I honestly believe that if someone cannot make a plan and take action on their own they will never succeed anyway, so I see mentors as valuable for information purposes only.
I would just make friends with as many investors as you can in your area, read up on the subject, and take small steps to get started.
Your point is well taken.. I dont need motivation cause im here on bigger pockets networking and learning to master real estate investing.. But i do need guidance & information, we all need it sometime or another.. But i will use all the information i receive here and apply it towards my goals. :D
I think there is a somewhat misconceptions about mentors. Your probably not going to find a local investor who will just open up the whole playbook to you right away and be an official mentor.
However, I consider several people in my area who were mentors but they didn't know it. Its more about networking then a formal teacher - student relationship.
Hanging out at REIA meetings, and having lunches with the real investors in your area are informal ways of getting mentored by the experts in your area. If you hang around them long enough you should be able to learn what their doing and how they do it.
I found most of my concrete knowledge online and mixed it in with what I learned from those in my local market.
Start looking for deals and get in the mix... be willing to split the deals... don't ask for money... find creative deals where their knowledge will help you get it done....
And then take investors to lunch (you pay always) and ask them about your deal.. how would they do it...
sadly when i started i had about 2 lunches and 2 dinners scheduled every other day....
But, after a few months I knew what I was sorta doing and did over 1.1 mil that first year...
noticed I said sorta... you'll never start learning....
But, get good finding deals most aren 't... marketing, marketing, marketing....
Exactly right! If you need to get your motivation from a mentor, a coach, a guru, or a rah-rah, sis boom bah seminar - you aren't going to make it and you might as well quit right now!
Absolutely! What it's really about is simply MAKING FRIENDS with the successful investors in your area! Your new friends will be happy to help (mentor) you for free.
Those friends you find will be willing to advise you as long as you are willing to actually do the work needed.
If someone is willing to also give you the financial help needed (silent cash partner) do not be afraid to give them 50% or better of the profits even though you are doing all the work, because without their money and suggestions you would not have made anything at all!!!!!!!
The 3% who succeed in real estate investing all have one thing in common.
They all have mentors. Having one is crucial for your success. I had mentors when I started in real estate and even after buying several properties, I continue to have mentors today. I need their guidance and inspiration like I need oxygen. The only time I won't need a mentor is when I am dead. Seriously!
Trace Trajano
blogspot: tracetrajano
Most successfull investors are not seminar junkies. That type of quote is what leads the lemmings to the looters :lol:
Everyone has made valid points, but i also feel that some people are great starters and others need that little push or guidance to get them started.... I am a hands on learner and a mentor would help me out alot... Like i said before finding one is the hard part..
What i mean, when i say mentor is, someone to follow around, call when i need advice about a deal or partner with when needed. Someone to teach me the ins and outs of the business... Everyone learned from someone, sometime in there business life.
Exactly! This is what I need.
I am hands on for sure. I'm not even concerend with cash, just learning and education is enough compensation for me. I am also having a tough time finding someone to learn from.
Your point is well taken.. I dont need motivation cause im here on bigger pockets networking and learning to master real estate investing.. But i do need guidance & information, we all need it sometime or another..
I think the best places for information are:
* Books
* Courses
* Forums like here
* Local investors or real estate professionals
People are good for getting single, immediate answers, and in my opinion, nothing beats a course at bringing it all together and organizing the process or showing what's working best.
It's my observation that real estate investors LOVE to talk about real estate. I can't tell you the number of times I've told people "Well, I'm just figuring all this out, ya know," and been given loads of advice from people who will gladly tell you how they went about it.
The seminar zombie mentality will sometimes have you feeling that you have to hurry up and Do Something Before It's Too Late. Don't fall for that--that's just the aftereffects of the psychological tricks they use to persuade you to buy their big thick binders of Vaguely Useful Information for a thousand bucks before you think too hard about what the hell you're paying for.
Is that the years I went to multiple seminars for a few days...
I did better....
I now have more friends across the country than my own backyard...
And the networking from those seminars in the early days served as a getaway and a recharge....
So, I think seminars have a place...
Nowadays I travel to getaway... and have mastermind meetings and still go to a seminar here and there to hang out with friends... a reunion of sorts...
Plus, those contacts early on allowed me to be able to pick up the phone or send a quick email to folks that I knew knew the answers and get help...
You do get what you pay for. If you skip that due diligence you may be paying for a salesman, or you may be paying for a real knowlegable person. You skipped the due diligence it's pot luck time!!!
If you have done your due diligence and know the person is actually knowlegable on the subject, then I would have to say that asking for a mentor to walk you through the process is asking someone to give up their income for XXX amount of time to show you the ropes.
If I were to pay him for his lost income and time that would be very expensive indeed. Of course there are many variations between this and finding out what you want to know by just reading. It is up to each and everyone of us to decide which route to take.
I believe mentors can play an important role in your career. They can shorten the learning curve and help you avoid common pitfalls. As we are currently in times of unpredented opportunities, anytime you can fasttrack your success the better off you will be.
With that said, you should find mentors that specialize your local market. There are many "national" coaches that offer education, but a mentor is someone who you will meet face to face on a regular basis. They will sit down with to establish goals and design a game plan for you. Then, the mentor will make sure you stay on track.
Other's on this thread have mentioned subtitutes like friends and investment clubs but these people will never make sure you stay on track. I belong to one of the best REIA's in the country and I have made some pretty good contact's there, but I can honestly say that none of them compare to the contwcts I have made through my Mentor.
I no longer see my mentor as he passed away several years ago, but there is not a day goes by that I do not think about how much of an influence he made in my life.
For those looking for mentors, I would encourage you to continue your search. For skeptics, perhaps you found your success on your own through trial and error, but some people cannot leap before they look. We are all not wired the same.