Real Estate Investor Mentors

Rental Property Investor · Austin, TX · Member since 2020 · 16 posts · 22 votes

Hi I want to start my journey as a real estate investor and wanted to know if there were any successful investors in the San Antonio area that I could be a mentee for, I’m willing to help out with little stuff or what’s needed if necessary.

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Rick Pozos

Wholesaler, Rehabber and Landlord · San Antonio, TX · Member since 2014 · 2k+ posts · 2k+ votes

@Diana Lugala I am NOT saying be a wholesaler. I am saying to read a few books, listen to some podcasts, get some knowledge on your own and do some of the things that they tell you to do and bring me a deal or something that sounds like a deal to you. It may not be one, but I know that you are trying on your own. That is the first step. Get some knowledge on your own.

When you have some knowledge, you can talk with people about their real estate issues. You do not have to know exactly what to say to them. You can talk with them and see what they need that will help them out.

I know that no one is going to say, "Come hang around my office and let me give you 30 years of knowledge, that I worked hard to gain, for free or do some menial jobs around the office to pay me back". Most people have worked hard and spent LOTS of money to get to where they are. It just seems hard for me to think that they would be so willing to GIVE it away for $10/hr work. That is why I say to bring a deal after you have gained some knowledge. That will get the conversation started.

You are thinking that you need the knowledge to begin with to find the deal. BUT you need to have some initiative to get going on your own, first. When that is shown, people will tend to give help more willingly.

I just went to a multifamily meeting in Keystone Colorado last month ($1000. plus airfare and hotel), I took another class locally last year on multifamily also ($700). I still spend money on education after about 20 years in the business. You are going to have to spend some money for education. Most of the basic information is free here on BP. Read Rich Dad, Poor Dad. Discuss it with others. Read some marketing and sales books. Get involved in some REIAs (post corona) and pay the $200 per year to be a member. Take people to lunch(nice lunch, not a $3 coffee). Follow some of the people here on BP or better yet become friends of theirs.

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Diana Lugala
OP
Rental Property Investor · Austin, TX · Member since 2020 · 16 posts · 22 votes
6y
@Peter Johnson Sorry if my shoulders offend you or your wife... I would have preferred you didn’t comment at all if you weren’t going to be of assistance, thank you and have a nice day.
14 Reply
Rick Pozos
Wholesaler, Rehabber and Landlord · San Antonio, TX · Member since 2014 · 2k+ posts · 2k+ votes
6y
The problem is that helping out with little stuff is of very little value compared to the information that you gain. Do some leg work yourself and bring a potential deal to someone. That would be worthy of a discussion about real estate. Find someone who is behind on their mortgage and wants to get out quick!! Find a motivated seller and bring the deal. That would be valuable on your part.
4 Reply
Stone Saathoff
Investor · San Antonio, TX · Member since 2019 · 576 posts · 307 votes
6y
Welcome! Best of luck on your journey, San Antonio is a great place to get started.
1 Reply
Diana Lugala
OP
Rental Property Investor · Austin, TX · Member since 2020 · 16 posts · 22 votes
6y
@Peter Johnson Says the person who’s profile picture isn’t even a photo of them... so like I said before you aren’t of any assistance so have a nice day.
2 Reply
Diana Lugala
OP
Rental Property Investor · Austin, TX · Member since 2020 · 16 posts · 22 votes
6y
@Stone Saathoff Thank you, I really appreciate the encouragement!
0 Reply
Diana Lugala
OP
Rental Property Investor · Austin, TX · Member since 2020 · 16 posts · 22 votes
6y
@Rick Pozos That’s a great idea, I just don’t know how to do any of those things considering I’m just starting out and wouldn’t want to try and help anyone when I don’t know how to do it myself. Also, It’s not about the physical act of me helping out with small things but, more so being in that environment and seeing first hand how the process and day to day of being a great investor goes. It’s more of a learning experience for me than anything, that’s why I suggested helping out with smaller things around the office to show Im serious. If you want to be great you mimic the great, so that’s what I’m hoping to do.
0 Reply
James Dobbins
Member since 2020 · 13 posts · 3 votes
6y
@Diana Lugala I would start by reading Nassim Taleb's Antifragile. That book will provide a good base understanding of risk.
1 Reply
Diana Lugala
OP
Rental Property Investor · Austin, TX · Member since 2020 · 16 posts · 22 votes
6y
@Rick Pozos Now that I’m re reading what you said, are you suggesting wholesaling?
0 Reply
Diana Lugala
OP
Rental Property Investor · Austin, TX · Member since 2020 · 16 posts · 22 votes
6y
@James Dobbins Thank you for the book suggestion,, Ill do that !
0 Reply
Joseph CacciapagliaBusiness Member
Lender · San Antonio, TX · Member since 2020 · 1k+ posts · 1k+ votes
6y
Your profile mentions that you're working on getting your real estate license. I've found that working with successful investors, as their agent, is a great way to learn. Have you found a broker to work with yet? Finding a broker that is investor focused might be a good first step for you. Feel free to reach out to discuss further. I usually like to invite new investor focused agents for coffee or lunch, but these days a phone call seems more appropriate.
[email protected]979-218-2286
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1 Reply
Rick Pozos
Wholesaler, Rehabber and Landlord · San Antonio, TX · Member since 2014 · 2k+ posts · 2k+ votes
6y
@Diana Lugala I am NOT saying be a wholesaler. I am saying to read a few books, listen to some podcasts, get some knowledge on your own and do some of the things that they tell you to do and bring me a deal or something that sounds like a deal to you. It may not be one, but I know that you are trying on your own. That is the first step. Get some knowledge on your own.
When you have some knowledge, you can talk with people about their real estate issues. You do not have to know exactly what to say to them. You can talk with them and see what they need that will help them out.
I know that no one is going to say, "Come hang around my office and let me give you 30 years of knowledge, that I worked hard to gain, for free or do some menial jobs around the office to pay me back". Most people have worked hard and spent LOTS of money to get to where they are. It just seems hard for me to think that they would be so willing to GIVE it away for $10/hr work. That is why I say to bring a deal after you have gained some knowledge. That will get the conversation started.
You are thinking that you need the knowledge to begin with to find the deal. BUT you need to have some initiative to get going on your own, first. When that is shown, people will tend to give help more willingly.
I just went to a multifamily meeting in Keystone Colorado last month ($1000. plus airfare and hotel), I took another class locally last year on multifamily also ($700). I still spend money on education after about 20 years in the business. You are going to have to spend some money for education. Most of the basic information is free here on BP. Read Rich Dad, Poor Dad. Discuss it with others. Read some marketing and sales books. Get involved in some REIAs (post corona) and pay the $200 per year to be a member. Take people to lunch(nice lunch, not a $3 coffee). Follow some of the people here on BP or better yet become friends of theirs.
6 Reply
Avery CarlBusiness Member
Real Estate Agent · USA · Member since 2016 · 909 posts · 1k+ votes
6y
@Diana Lugala start with reading as many books and listening to as many podcasts as possible. Also do a search of your market (appears to be San Antonio) on these forums and learn from those who are doing it. Your profile says you are getting your license. Maybe rather than asking people if they can mentor you, ask them if you can start bringing them deals. That's the best way to learn!
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2 Reply
Diana Lugala
OP
Rental Property Investor · Austin, TX · Member since 2020 · 16 posts · 22 votes
6y
@Rick Pozos Oh wow great advice, I misunderstood you earlier. That all makes a lot of sense I’ll definitely apply that, Thank You !
1 Reply
Albert Ellis
Flipper/Rehabber · Baltimore, MD · Member since 2019 · 24 posts · 19 votes
6y
@Diana Lugala
Hi Diana, I’m not sure if you are on Instagram, but there a couple of investors that I follow that produce a lot of content/mention what to look for as a real estate investor and are transparent with how they make their money.
_investr - Real Estate Developer in Houston
flipping_nj - Home flipper from New Jersey
dougdepte - Home flipper in Philadelphia
b_rule - Real Estate Developer DC/Milwaukee
hoodestates- They flip and hold in Jacksonville
mgthemortgageguy- Mortgage Broker on IG with a lot of content and holds YouTube lives during covid with constant updates on changes in the market.
“Earn Your Leisure” podcast has also been a valuable resource that has interviewed everyone above and where I found out about them.
The above probably can’t be official mentors for you, but you can definitely learn a lot from their content they’ve worked on for a long time.
2 Reply
Neil Henning
Investor · Montgomery County, PA · Member since 2018 · 14 posts · 3 votes
6y
Hey @Diana Lugala, congrats and good luck on your REI journey! I agree with @Albert Ellis as there's so much free content from experts on IG and more. I personally follow Doug Depte and love his content as well as many others. Also, I would pick up a couple books. I think the first one I read was Brandons Book "The Book on Rental Property Investing" also David Greens BRRRR book is really good. Lastly, I would attend some local meet ups and network with intent to find a mentor. Obviously right now it'll be tougher but still you can find some local meetups that are happening virtually and attend. Learn who the players are, what they are focusing on, ask them questions, etc.
Best of luck!
1 Reply
Diana Lugala
OP
Rental Property Investor · Austin, TX · Member since 2020 · 16 posts · 22 votes
6y
@Joseph Cacciapaglia Thank you for the response! No I haven’t found a brokerage yet, any recommendations?
1 Reply
Diana Lugala
OP
Rental Property Investor · Austin, TX · Member since 2020 · 16 posts · 22 votes
6y
@Avery Carl You’re right I’ll find a useful skill to provide, thank You !!
0 Reply
Diana Lugala
OP
Rental Property Investor · Austin, TX · Member since 2020 · 16 posts · 22 votes
6y
@Albert Ellis That was very useful thank you for that!
0 Reply
Joseph CacciapagliaBusiness Member
Lender · San Antonio, TX · Member since 2020 · 1k+ posts · 1k+ votes
6y
Originally posted by @Diana Lugala:
@Joseph Cacciapaglia Thank you for the response! No I haven’t found a brokerage yet, any recommendations?

I don't want to break the "no promotion" rule of the forum, so I PMed you my recommendation.
[email protected]979-218-2286
Joseph Cacciapaglia powered by Morty
Website View Page
0 Reply
Diana Lugala
OP
Rental Property Investor · Austin, TX · Member since 2020 · 16 posts · 22 votes
6y
@Neil Henning That makes sense ! I’ve read Brandon Turners book on real estate investing but, Ill definitely check out David Greens book and try to attend some meet ups, thank you !
0 Reply
Sandy Hurtado
Investor · Dallas, TX · Member since 2020 · 7 posts · 15 votes
6y
@Diana Lugala When I started investing I went ALL IN. I did pay thousands of dollars to learn from the best. They were my mentors, I’ve learned that people value what they pay for and those that get paid give you their best.
I ALWAYS pay for people’s time. I don’t just ask or expect it to come out of their general hearts as if they have me wanting to gain knowledge they will give it to me if they have time & get around to it vs if I’m paying for mentorship I have their full undivided attention and make time for me when I call.
I’ve made back the money invested in mentors over and over and over again which has snowballed into even more and more every year.
I’m a hustler & am extremely driven so I’m constantly learning. The game never ends it always keeps going. And like another guy said here why would an investor that has worked extremely hard just let you shadow them and be “around” the office paying $10 bucks an hour often explaining what is being done on a particular deal. I personally wouldn’t do it as it would be draining but I would do it if you bring me possible deals that we can split 50/50.
Even Beardy Brandon says that if you want to get in then bring me a deal, you do 90% or more of the work and I come in with my experience & knowledge and we split it 50/50 or depending & you learn along the way that way as you are not paying a hefty fee for mentorship.
2 Reply
Diana Lugala
OP
Rental Property Investor · Austin, TX · Member since 2020 · 16 posts · 22 votes
6y
@Sandy Hurtado I love that you’re a hustler, I am too! But Yeah I do need to find deals and such to serve some value. I never thought of it like that but, it makes a lot of sense! Also, How much do you think I should look into paying for a possible mentors assistant?
0 Reply
Owen Thornton
Rental Property Investor · Charlotte, NC · Member since 2019 · 100 posts · 26 votes
6y
@Diana Lugala I am only 16 myself, but I can say for you best off if you are wanting basics you’re at the right place. I wouldn’t recommend asking for a mentor, because people don’t always take that as well!
I believe the best way to find a mentor is first
First have a plan. Where do you want to be?
1. Build you education; read books start at “How to invest in rental properties “ by Brandon turner.
- continue learning, read mentality books like the richest man in Babylon or the art of the deal, or rich dad poor dad, the money quadrant, think and grow rich.
- when I first started analyzing deals, I found best to go to loop net, and just search. Even Zillow. Then just go through analyze and do the math find the local taxes and comps really dig in
2. Start asking questions and ideas and confirmations on bigger pockets forums. I believe this would strengthen your status and help out! Ask questions suggestions and more.
3. Connect with people and discuss deals, findings and common interests. Go to local groups and meet ups. :)
4. In middle of all this if you have the base you need. Put together a team; broker, attorney, even CPA or a corporate/entity attorney to help discuss tax benefits and how you will structure your business, wether will be in your own name or the title will transfer over. Be careful in doing so and make sure you comply with local law.
6. Get your deals. Go through hundreds of properties pick two or three. Go through and review with your professionals use good judgement. Always underestimate. Put together a pitch for your lender and also, determine what financing you will get wether private hard conventional or FSBO
7. Do you due diligence.
Do not forget, make sure you review everything once again. Go to the title company and review past owners, have an attorney properly review your paperwork, review records for ownership of the home, and if fsbo makes sure there is no clause in the mortgage preventing this for sale by owner, or make sure they have full equity in the home
8. Landlording. Can go on forever but now you get the point of where we have headed!! So now, we hit land lording - or flipping whatever we may be doing.
This diverts here and I could go on for hours, but let me know if this helps! Thanks! I enjoyed sharing!
0 Reply
Diana Lugala
OP
Rental Property Investor · Austin, TX · Member since 2020 · 16 posts · 22 votes
6y
@Owen Thornton Very wise for an individual starting young, thank you for the helpful suggestions! I’ll be implementing some of those strategies, well appreciated !
0 Reply
Michael Jones
Investor · Louisville, KY · Member since 2017 · 199 posts · 253 votes
6y
A single mentor, in my opinion, will not bring many more answers to the table than is right here in the BP forums. A single mentor might also limit your vision to just the way they like to do things and their comfort zone. My advice would be to pay no one and read read read read through these forums and ask questions and post and then read some more and ask more questions.
There is tremendous value here that is free and this is coming from an investor that has multiple units and manages it all myself. There arent many secrets to this business and you can sum it up to using emotional intelligence, common sense, knowing the law and managing people when they do the unexpected.
Read and ask more questions and keep your money in your pocket to buy property.
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