New to Real Estate · Austin, TX · Member since 2015 · 14 posts · 3 votes
Edit: title should say "Investor seeks RE mentee" (not mentor)
Im looking for a side RE gig to compliment my commercial RE appraisal role I just started (doesn't pay much and no more then 40 hrs a week). Around my neighborhood I see bandit signs advertising "Local investor seeks RE mentee/trainee". I see the same on Craigslist just slightly different language. They often say something along the lines of 5k a month part time or 10k full time.
I'm wondering what's the catch if any? Have any of you reached out to these ads?
Real Estate Investor · Chicago, IL · Member since 2013 · 57 posts · 17 votes
10y
Hello Eddie V.,
I seen them alot in Chicago where I am from. I finally called a few of them seeing what they were about. I do wholesaling by the way so I am always looking to network. It was what I thought wholesaleres looking for bird dogs. That is property locators since the real wholesaler can't be everywhere finding properties. Not all of them even picked up the number or even had a call service set up.
Real Estate Investor · Chicago, IL · Member since 2013 · 57 posts · 17 votes
10y
Hello Eddie V.,
I seen them alot in Chicago where I am from. I finally called a few of them seeing what they were about. I do wholesaling by the way so I am always looking to network. It was what I thought wholesaleres looking for bird dogs. That is property locators since the real wholesaler can't be everywhere finding properties. Not all of them even picked up the number or even had a call service set up.
Irvine, CA · Member since 2016 · 545 posts · 614 votes
10y
@Eddie V. the signs you see are from Wholesalers. This is one of the many tactics they are taught when being mentored to get into RE. If you're looking to build a team and you're looking for a few wholesalers to find properties while you fund/purchase the houses, they may be interested.
Investor · Baltimore, MD · Member since 2008 · 17k+ posts · 13k+ votes
10y
They are looking less experienced investors to be bird dogs. The get a lot people looking for deals for them, and they have the knowledge and skill to close the deal and make it happen.
My cynical side says most of these people are relatively new themselves and learned this from some guru. You also hear this from big time investors who are looking to sell mentor-ship programs.
Of course some of these can be legit win win situations but my guess is few if anyone makes the 5-10K consistently they promise.