As a new investor I am constantly educating myself and learning by example from anybody I can. As with any relationship they must be mutually beneficial for it to be viable. As a new investor I don't think that I have as much to offer in a relationship where I would be mentored. For those of you who have mentored in the past, what can I bring to the relationship? How can I add value for you? What is it that makes you want to invest time into someone?
@Isaac Gougler thats one of the best questions I have seen on this forum for newbies. I am 25 years in the business and have thousands of transactions under my belt here in Pittsburgh. Every newbie should be asking this question. You need to find someone who is very reputable first and foremost. Everyone is an expert in this industry but very few are highly successful. I consider myself marginally successful and I wish I had a mentor 25 years ago. I would be ultra successful now. Once you target this person then you need to do whatever they need you to do. Hang around them and add value by doing the jobs nobody wants to do. And do them for free. Read Rich Dad Poor Dad. Basically says what I am telling you in this post. Most successful people have seen the want to be investors. They want to be rich but dont want to go through the pain, near Bankruptcy, sleepless nights, financial struggles and let downs etc.. etc... In short they talk the talk but dont walk the walk. Focus on finding the right mentor then run with it and best wishes to you.
The most value that most investors will let a newbie provide is the tedious stuff that nobody else wants to do, and most of the time they don't want to pay for it, otherwise they would have already hired someone to do it. This is a great question by the way
Thank you Alex and Aaron for your advice. I will put that into practice and I will be willing to do the tedious stuff for free, at least for a time and consider it the price of education. I have certainly spent more money on less education.