Finding a Real Estate Mentor

2 Replies

Hey BiggerPockets!,

I live in Upstate NY just outside of Albany.  I am trying to find a mentor that has at least a decade of experience in apartment investing.  How would I go about finding investors in my area and would investors be willing to let me work with them for free?  If any of you are on the forum that live in the Albany area, I would openly come and help you out with anything you need!

Best,

Cole C.

Hey Cole,  You've come to the right spot!  Most folks in RE investment didn't have any formal training (myself included) and so sites like this have become essential for avoiding some of the common pitfalls a new investor may fall into.  The first step will be networking with your local investors group.  In Rochester we have a pretty active group (FREIA) as well as a lot of little spin off factions of individuals that like to get together and talk shop.  Once you've found a group of folks find out how they're sourcing their deals.  You'll find a plethora of experience levels, and many many unique approaches to RE investment.  Soak it all in and see if there is anyone you click with.  Once you've narrowed down your approach a bit it will be time to dig in.  This is usually done by qualifying yourself as a buyer.  You can do this traditionally through a banker, as well as explore other options as you network.  Once you've determined your comfort level and ability to close a deal, start watching the market and asking about deals that your new friends are doing.  You start to get the feel for what is good, and what someone is trying to pawn off.  Never take any numbers from a seller with much weight, always perform all your own due diligence in order to make a smart move.  Once you've got one under your belt, use it for a benchmark and try to beat it!!

  

Originally posted by @Cole Carner :

Hey BiggerPockets!,

I live in Upstate NY just outside of Albany.  I am trying to find a mentor that has at least a decade of experience in apartment investing.  How would I go about finding investors in my area and would investors be willing to let me work with them for free?  If any of you are on the forum that live in the Albany area, I would openly come and help you out with anything you need!

Best,

Cole C.

 Keep asking, you’ll find them. In the meantime, thought you might enjoy this blog https://www.biggerpockets.com/blogs/8160/67620-purchasing-our-first-apartment-complex