Should I ask landlords to be my mentor and for investment advice?

7 Replies

I am wondering if it is a good idea to ask landlords in my area to be my mentor or to "shadow" them and follow them around as they do showings of their properties. 

I think that asking successful landlords in the area with a lot of current properties is the best way to get the best investment advice and information but I am not sure if they would be willing to help a newbie get started in real estate investing.

Do you guys think most landlords would be willing to help a newbie out? 

I have been studying real estate for 2 years and have the capital but I just need to pull the trigger. 

you're asking if you should ASK?

of course you should ask! I recommend you ask everyone who can help you, to help you.

I think most people are willing to help if they see you investing in yourself more than they can. If someone sees that they need to hold your hand the whole time, they will bail, but if they think they can invest in you and you'll run with it, almost everyone will be happy to give you at least some of their time. Ensure you use it wisely.

If you can sit and talk with seasoned older landlords then you better listen . The advise I learned for some of these guys has been priceless to me . I absorb whatever is said like a sponge . Sage advise in this business is out there but you gotta ask and show a willingness-to learn .

If someone asked to tag along, I'd thank them for their interest and bid them a good day.

If they asked to tag along and offered to perform some work for me in exchange, I'd jump at the opportunity.

Don't be a taker. Offer them something of value in return and they'd be stupid to turn you down.

Originally posted by @Nathan G. :

If someone asked to tag along, I'd thank them for their interest and bid them a good day.

If they asked to tag along and offered to perform some work for me in exchange, I'd jump at the opportunity.

Don't be a taker. Offer them something of value in return and they'd be stupid to turn you down.

 What kind of work/value should I offer them? Any good ideas? 

@Nathan G. great advice.

Add value.  Make sure they are doing what you want to do.  You can drive for dollars or use direct mail sending them a list of the best potential properties you have found, do this even before you ask them to help.  Have the list ready and give to them when you ask if they would give some guidance as you have questions.  Ask them if they are will to walk you through a couple of properties that you find and give to them.  Be willing to gain nothing but experience and knowledge giving them the deal.  You will be much further ahead.  

@Bryan T. I would be willing to help someone that did some work for me: 1. Property inspections. Drive by, check the common areas using my checklist, snap a few photos. I have dozens of properties to look at every month. 2. Look at my reports and identify action items like leases expiring in 90 days or unpaid rent. 3. Research properties with absentee owners that I could market to and then help me market to them. 4. Keep my social media updated with interesting articles. 5. Do some maintenance or cleaning on my personal rentals. Just a few ideas that may work for me.