J Scott's Starting Out FAQ

132 Replies

I'm looking to invest in a rental property in Kentucky and I'm not sure if I should invest in a neighbor/subdivision that 60% of population rent and the other 30% are homeowners. (numbers are subject to change/differ from location to location but what kind of ratio should I look for)

Originally posted by @Michael Wilson :

@J Scott Mentors charge so much money is there another way to learn real estate investing or should i just save the money and pay the fee to acquire a mentor??

Somebody that will walk you step-by-step through the process of learning is a coach, not a mentor. And yes, they will charge money.

A mentor is somebody who will help you for free by entering questions, helping you solve problems and generally helping you push through roadblocks. They help you because you've formed a relationship with them, and they want to see you succeed.

If you need somebody to help you, your two choices are to pay a coach or to build a relationship with a successful investor and then hope he will eventually become your mentor.  The best way to build that relationship is to volunteer your time to help him, or find some other piece of value you can offer him.  Nobody is going to want to devote their time, effort or expertise without You providing some value to begin with.

All that said, I don't believe that you need either a coach or a mentor to learn this business. There is enough information out there, enough resources, and enough people who will answer questions for you that you should be able to learn everything without paying any money.

Spend time here on BiggerPockets, buy books related to the topic you're interested in, listen to the podcast, and network with other successful investors.  Then take action.

That's how I learned the business and have done many hundreds of deals with just that type of education and learning.

@jscott thank you sir i appreciate the feedback, i live in Miami Fl. And i am looking to get into real estate investing in multi family units and wholesaling, and where do i start learning at 47 yrs old on bigger pockets to start this wonderful journey in real estate investing

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