How to find your mentor

Question

How does one go about finding a great mentor? I’ve been going to networking and investor events and talk to people but I feel like no one ever really takes me seriously. I’ve been learning all I can and I’ve learned that a mentor is a great tool to have getting into this! Any suggestions on how to meet more willing people or find someone who’s willing to be a mentor?

Nick C. · Answer

This isn't your fault, but everyone who has watched HGTV for half an hour is an aspiring real estate investor. At this point in the market cycle everyone is looking to get involved. My guess is the folks you're speaking to have heard it all before from many aspiring investors and might be a bit jaded.

Your best bet to find a mentor is to find someone who is doing what you want to do and get a job at their business. Hard work is the only way you will add value to the relationship.

Frank Wong · Answer

Real mentors with real knowledge are not working for free.  They also don't need free labor.  It will take them more time to train someone to do something than just hire out.

Also, ask yourself what you can really achieve with a 1hr meeting with coffee?  No way you can structure a business plan, go over a system, and create a list of action items needed to accomplish your goal. Investing is a long process and nothing can be accomplished with just 1 meeting.

Mentors are very important and I am a big believer of them.  I have had a few mentors in my life and I certainly would not be in the position I am today without them.  The money I have spent and the ROI is off the chart.

Nick Rutkowski · Answer

@Katelyn Rylee

Finding a mentor is like finding a pot of gold at the end of the rainbow. Doesn’t happen too often. Look up “Freedom Mentor” on YouTube. The guy has 1000s of hours of videos on REI, for free. Its how I started my investing career. You don’t need a mentor when they teach you the basics on the internet, experience teaches you the rest.

It took me 3 years in the real estate sales industry to find someone interested in taking me on. Good luck.

David Y. · Answer

Do you have any family friends, close friends, or past work associates that you have a relationship with that do real estate? Generally, mentors come in the form of friendships.

Try to add as much value as you can when finding mentors. Successful people rarely have a lot of extra time and you need to make it meaningful and worth their while.

Jaron Walling · Answer

@Katelyn Rylee Reading these responses and looking back at old messages makes it clear I'm wasting my time. My number one goal is building relationships and making friends in the market. It was a struggle for the guy to get coffee. He flaked twice before finally meeting with me. Lesson learned.

Jaron Walling · Answer

I have this problem as well. I got coffee with an experienced investor (he owns 130 properties). I contacted him through a reference from a contractor. We talked about how he got started in 1994, investment locations, goals, and we talked about my current property. As a novice investor I don't bring anything to the table. The guy literally knows everything about the market and could careless about networking. I'm looking for my next deal but don't know how to convey that.

I agree with Nick C. on looking for a job to fill.

Jaron Walling · Answer

@Frank Wong @David Y. The only other contact I have with real estate investing knowledge is a parents friend. He owns 30 properties but its in a market 2 hrs north and heavily influenced by manufacturing (Fiat Chrysler, GM, and Haynes International Steel). I have his contact information but think it's waste of time. I'll get my hands dirty and keep the wheels spinning in the general direction I need to go.

Katelyn Rylee · Answer

@Jaron Walling

I’m glad I’m not the only one! I just put it out there that id be willing to help in order to learn but I already have 3 jobs and will have to figure out how to squeeze that in. One of the reasons I want to get into investing, so I don’t have to work like this my whole entire life! Lol

Katelyn Rylee · Answer

@Mike Lee

True, the only people I would ask though, are like only 2 years into investing so aren’t at the level of knowledge I would like. They are still growing their business.

Katelyn Rylee · Answer

@Nick C.

Thank you! I just reached out offering my help to investors just so I can get a foot in somewhere. I appreciate it.

How to find your mentor

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