Why are mentors hard to find and sketchy about teaching?

Baltimore , MD · Member since 2018 · 19 posts · 4 votes

I live in Baltimore Maryland . I'm new to this and I've checked with some local REIA for mentors and guidance. Some want me to come out my pocket , while others don't answer the phone unless I enroll in their expensive class. This is the only place where I've found answers since I signed up.

0 Reply

106 views

Most Popular Reply

Jay HinrichsBusiness Member

Real Estate Consultant · Summerlin, NV · Member since 2014 · 45k+ posts · 66k+ votes

mentoring is a business not a charity... BP is quite unique in that you can get basic answers to your questions.. but in depth one on one who has the time if they can't sell their time..

Podcast Guest on Show #222

JLH Capital Partners51 Review

Website View Page

9 Reply

See this reply in the discussion

30 Replies

Jump to latestLatest

Sort by

Jay HinrichsBusiness Member
Real Estate Consultant · Summerlin, NV · Member since 2014 · 45k+ posts · 66k+ votes
8y
mentoring is a business not a charity... BP is quite unique in that you can get basic answers to your questions.. but in depth one on one who has the time if they can't sell their time..
Podcast Guest on Show #222
JLH Capital Partners51 Review
Website View Page
9 Reply
Ernesto Hernandez
Realtor · San Francisco, CA · Member since 2017 · 408 posts · 361 votes
8y
Baltimore has some challenging neighborhoods where remote investing isn't all that rare.
You being in Baltimore is a huge advantage to someone who wants to invest there.
I would go in the Maryland/Baltimore forum specifically. Go through the last few pages of posts, see who's there from out of town or asked about investing thing from out of town.
Offer them something and see what they would benefit from, in exchange for their time and avice.
You can bird dog, take pictures, get quotes from contractors as a local, etc.
You being in a market where out of state money is coming in to is a huge advantage in and of itself.
What problems are people having investing in Baltimore and what can you do to alleviate them?
Just thinking out loud. You can offer photo and neighborhood analysis for $50-$75 a client and raise the money you need to, to attend the training you want to.
In short, you already live where people want to learn about from afar. That's huge.
6 Reply
Rachel H.
San Antonio, TX · Member since 2009 · 3k+ posts · 1k+ votes
8y
@Gregory Hatcher It's one thing to ask questions via email or forums like this. Though it's another to take the time to talk to someone on the phone or ask them to meet with you. There are experienced investors out there who'll take people under their wing for free or for a small consulting fee. The key is finding those people and making sure you can work with their personality and vice versa. Most experienced investors who do this want to make sure they're on the same page as the person and they can work together without wasting a lot of time. Good luck!
1 Reply
Henri Meli
Investor · Morrisville, NC · Member since 2012 · 1k+ posts · 673 votes
8y
@Gregory Hatcher Why do you think mentoring should be free? If you are getting advice, that can enable you to replace your current income and/or build wealth for your family and future generations, don't your think that the people providing you these tips should be compensated? I don't think it is fair !!!
Good Luck !!!
1 Reply
Gregory Hatcher
OP
Baltimore , MD · Member since 2018 · 19 posts · 4 votes
8y
thanks for the advice.
0 Reply
Rob Cook
Powell, WY · Member since 2016 · 35 posts · 26 votes
8y
@Gregory Hatcher
Nobody wants to jump on you here, but read your OP and see if it doesn't come across entitlement-minded? Anyone who can actually help you with useful advice, is probably financially well off, meaning their time is very valuable. A better approach would be for you to put yourself in the shoes of the type of person you would like to help you and think about how you might make them interested in doing so. Money is one way. But being appreciative and respectful is another.
Do your homework. There are lots of articles and discussions about mentoring, right here in BP. Spend the time doing that, before asking a question that has been answered and is there for the searching, before asking, and you will have a better response.
Here is one I wrote, and you should read my other Blog posts too, and search all of BP.
https://www.biggerpockets.com/blogs/10670/71992-education-and-mentoring-is-key-to-success-in-real-estate-investing
Hang in there, no harm done. Get a fresh start and take full advantage of the BP members who will help you more than you can imagine at this early point in your career.
Good luck.
3 Reply
Matthew Paul
Severna Park, MD · Member since 2013 · 7k+ posts · 7k+ votes
8y
Nobody rides for free .
1 Reply
Gregory Hatcher
OP
Baltimore , MD · Member since 2018 · 19 posts · 4 votes
8y
I should’ve been more clear about my original post. I’m not trying to disrespect anyone or start of on the wrong foot. I attended one of those flipping guru classes with my buddy that are advised on tv and the radio. They persuaded me to enroll in their class starting from 20 thousands to 50 thousands dollars and to use a credit card to pay for it. I understand that “ no one rides for free” or that “ it’s not fair “ to the mentor who actually do mentor. My apologies to those who were hurt on the original posting . No special privileges requested, just knowledge and understanding.
2 Reply
Account Closed
Investor · Columbus, OH · Member since 2017 · 861 posts · 1k+ votes
8y
Ever seen the movie Fargo? the guys you really want as the mentor are either the old man who owns the car lot, Wade Gustafson, or his business partner Stan Grossman.
Whereas, the guys selling the 20k mentor classes are the main character, Jerry Lundegard.
5 Reply
Steve Haight
Las Vegas, NV · Member since 2014 · 732 posts · 137 votes
8y
sure if you partner up with a mentor and do some of his busywork and follow him on deals, thats how I started.
3 Reply
Steve Vaughan
Rental Property Investor · East Wenatchee, WA · Member since 2014 · 10k+ posts · 16k+ votes
8y
Big diff between a coach and a mentor. Coaches have programs and rates. Mentors are folks quietly doing what you want to do and the relationship just develops.
I would bring an opportunity to a meet up. Ask an honest ethical pro to analyze with you and share in it maybe. We've had new people just say hey, I'm so and so. Happy to help. I have experience in da da da.
Good luck. In the meantime get a book and read it. Turn off devices and notifications and read on what interest you. Slow sips, not the fire hydrant that is BP!
3 Reply
Michaela G.
Investor · Atlanta, GA · Member since 2013 · 3k+ posts · 3k+ votes
8y
1. 1 out of 100 wannabe investors actually ever buy their first house. Those who've been willing to mentor, have often been disappointed by all of their time and effort having been wasted, because that person doesn't follow through.
2. Those of us in the trenches are usually not 'pack animals', but we've had to go against all of the friends and family and aquaintences, who were telling us that we're crazy. If we went forward any way and succeeded in whatever field we dealt with, we're very likely to be somewhat of a loner, who might not like having someone follow along. I know I couldn't stand the thought of someone looking over my shoulder and I always politely turn down any asking of mentoring or shadowing me
3. This is a business and if someone takes time away from their schedule , then it's only fair that they should get something out of it. At BP, we can pick and choose how and when we answer and how long and detailed our answers are. Different from someone hanging around me, when I really want to go home and meditate. It's an inconvenience, even if they're the nicest person in the world.
6 Reply
Caleb Heimsoth
Rental Property Investor · Durham, NC · Member since 2016 · 7k+ posts · 7k+ votes
8y
Gregory Hatcher did you sign up for it? Those are the worst. Avoid those like the plague. Your best bet is to attend local meet ups. Those are way more useful
0 Reply
John HornerPro Member
Flipper/Rehabber · Columbus, OH · Member since 2013 · 1k+ posts · 655 votes
8y
It takes time and effort to coach people, and those looking for coaching before they do their own research usually aren't going to be the go getters who become successful anyway.
I used to take peoples calls or answer their individual emails until I realized very few of them were ever going to do deals and I was just wasting my time.
Coaching may help some people, but if you don't have the drive and relentlessness to succeed, then it doesn't matter whether you have a coach or not.
2 Reply
Gregory Hatcher
OP
Baltimore , MD · Member since 2018 · 19 posts · 4 votes
8y
Originally posted by @Caleb Heimsoth:

Gregory Hatcher did you sign up for it? Those are the worst. Avoid those like the plague. Your best bet is to attend local meet ups. Those are way more useful
Nope , we went to the introductory meeting and that was it
0 Reply
Henri Meli
Investor · Morrisville, NC · Member since 2012 · 1k+ posts · 673 votes
8y
In addition to what @John said, let me add one more reason why mentors charge fees: When students don't pay any fee, there is little incentive to actually take the coaching offered seriously. Once a student pays , he/she starts taking it more seriously.
2 Reply
Jeff Kemmer
Flipper/Rehabber · Clovis, CA · Member since 2017 · 161 posts · 16 votes
8y
@Steve Vaughan said it correctly when he stated "Mentors are folks quietly doing what you want to do and the relationship just develops."
Mentors and 'Gurus' are completely different animals. I Mentor....I DONT Guru! The so called Gurus in this industry are typically Information Sellers.....they have info (either general or specific) that they may, or may not have written themselves and they sell that Information in the form of a product (books, downloads, seminars, etc). Their goal is to start with a free or very low-cost item and eventually work you up to a seminar or so-called "coaching" that cost $30, 40, 50 thousand or more. Most people who sell information products have got their hands full and their time busywith the information product itself. Often times to the detriment of their core business of REI.
Now, I have no problem with this type of business model, even though I now eschew it. For years I bought everything that came out and attended every seminar I could and I was more than happy to pay whatever they asked because I knew that if I did nothing more than learn one brand new thing that would make me tens, or hundreds of thousands of dollars, it was worth it. And that doesnt even count the remunerative social value gained from seminars, REI clubs, meet ups etc.
As Mentors you will find a different type of person as contrasted with an Info selling 'guru' Mentors generally don't have Info Products to sell. Mentors generally have and continue to make their career as Real Estate Investors, not as Info Peddlers.
True Mentors are more like Mr Miyagi in The Karate Kid...they walk the talk and they quietly observe. They also have your back, most of the time in unseen ways. They should know what your thoughts and feelings will be at the various stages of your training. They should know and understand how to get you thru the rough patches and equally important, they will make sure you dont get arogant or cocky as a result of a single success.
Mentors SHOULD focus on you the person and not only on successful businesses. Remember, in the Karate Kid, Daniel-san had to become the right kind of person Before he would enjoy success in his chosen endeavor.
And don't forget that "With great power comes great responsibility!" A good Mentor wants to make sure that you have the latter before he teaches you the former.
And finally, in my opinion, a great mentor will tell you the way it really is and not blow wind up your skirt. For example, I extensively interview my potential mentees well before I would ever commit to mentoring them or taking them on as a client. The vast majority of the time, I turn people down because I don't believe that they have what it takes to be successful, responsibly. A great mentor is actually a great talent scout.....we want Only the one percenters who possess not only the skill set and drive, but the temperament as well.
And lastly, please never lump us in with the Info Peddlers.....we're not in it for the money. Mentors do not make a ton of money from mentoring......We only do well if, and as a result of, helping others to be successful First!!
Jeff
5 Reply
Gregory Hatcher
OP
Baltimore , MD · Member since 2018 · 19 posts · 4 votes
8y
Originally posted by @Jeff Kemmer:

@Steve Vaughan said it correctly when he stated "Mentors are folks quietly doing what you want to do and the relationship just develops."
Mentors and 'Gurus' are completely different animals. I Mentor....I DONT Guru! The so called Gurus in this industry are typically Information Sellers.....they have info (either general or specific) that they may, or may not have written themselves and they sell that Information in the form of a product (books, downloads, seminars, etc). Their goal is to start with a free or very low-cost item and eventually work you up to a seminar or so-called "coaching" that cost $30, 40, 50 thousand or more. Most people who sell information products have got their hands full and their time busywith the information product itself. Often times to the detriment of their core business of REI.
Now, I have no problem with this type of business model, even though I now eschew it. For years I bought everything that came out and attended every seminar I could and I was more than happy to pay whatever they asked because I knew that if I did nothing more than learn one brand new thing that would make me tens, or hundreds of thousands of dollars, it was worth it. And that doesnt even count the remunerative social value gained from seminars, REI clubs, meet ups etc.
As Mentors you will find a different type of person as contrasted with an Info selling 'guru' Mentors generally don't have Info Products to sell. Mentors generally have and continue to make their career as Real Estate Investors, not as Info Peddlers.
True Mentors are more like Mr Miyagi in The Karate Kid...they walk the talk and they quietly observe. They also have your back, most of the time in unseen ways. They should know what your thoughts and feelings will be at the various stages of your training. They should know and understand how to get you thru the rough patches and equally important, they will make sure you dont get arogant or cocky as a result of a single success.
Mentors SHOULD focus on you the person and not only on successful businesses. Remember, in the Karate Kid, Daniel-san had to become the right kind of person Before he would enjoy success in his chosen endeavor.
And don't forget that "With great power comes great responsibility!" A good Mentor wants to make sure that you have the latter before he teaches you the former.
And finally, in my opinion, a great mentor will tell you the way it really is and not blow wind up your skirt. For example, I extensively interview my potential mentees well before I would ever commit to mentoring them or taking them on as a client. The vast majority of the time, I turn people down because I don't believe that they have what it takes to be successful, responsibly. A great mentor is actually a great talent scout.....we want Only the one percenters who possess not only the skill set and drive, but the temperament as well.
And lastly, please never lump us in with the Info Peddlers.....we're not in it for the money. Mentors do not make a ton of money from mentoring......We only do well if, and as a result of, helping others to be successful First!!
Jeff
0 Reply
Gregory Hatcher
OP
Baltimore , MD · Member since 2018 · 19 posts · 4 votes
8y
Jeff, I wouldn’t lump anyone in this group as peddlers. I thank you and a few others for the advice and input that I’ve received since signing up here. Now that it’s been defined as coaches vs.mentors , I have a better understanding , thanks for the input
0 Reply
Rob Cook
Powell, WY · Member since 2016 · 35 posts · 26 votes
8y
@Gregory Hatcher
You have shown good judgment both in responding back to the thread here and most importantly, that for whatever reason, you did not pay anyone $20K to $50K for anything that does not have a deed involved!
Lots of great advice and love from the members here. Use it. Education is necessary, but only to a point. Then experience has to kick in. And that means getting out of the classroom and finding deals. My whole online training and coaching business is about helping aspiring Real Estate Entrepreneurs get unstuck, out of neutral, and past GO. I even coined the phrase to identify those who continuously buy more and more courses and training, but never actually buy a deal. Serial Skillers.
Don't be another of those. Learn and seek education, of course. But keep it in perspective, it is a means to an end, not the end in itself. We learn so we can do. Spend your $20K to $50K as a downpayment on a real estate deal instead!
4 Reply
Gregory Hatcher
OP
Baltimore , MD · Member since 2018 · 19 posts · 4 votes
8y
Rob Cook thanks 100 %!!! I’m just trying to learn . I have a lot of research to do to answer my questions.
0 Reply
Rob Cook
Powell, WY · Member since 2016 · 35 posts · 26 votes
8y
@Gregory Hatcher It is my, and all of your new BP family's pleasure helping, as you have seen already here. Let me know how I can help. Anytime.
1 Reply
Jerryll Noorden
Flipper/Rehabber · Wilton, CT · Member since 2015 · 4k+ posts · 4k+ votes
8y
Dude, I will help you man for free. When you make it just buy me a shirley temple!
1 Reply
Gregory Hatcher
OP
Baltimore , MD · Member since 2018 · 19 posts · 4 votes
8y
Originally posted by @Jerryll Noorden:

Dude, I will help you man for free. When you make it just buy me a shirley temple!
0 Reply
Gregory Hatcher
OP
Baltimore , MD · Member since 2018 · 19 posts · 4 votes
8y
Originally posted by @Jerryll Noorden:
Dude, I will help you man for free. When you make it just buy me a shirley temple!
Cool
0 Reply

Join the conversationCreate a free account to reply, vote on answers and follow this thread.