Mentoring in exchange for capital?

Question

I'm a newbie to real estate investing. Flipping houses has always been my main goal, for the past 10 years now. There is one piece of advice you always hear from the guys who do it successfully, "Find yourself a mentor". I have some capital I can invest, and was thinking could I exchange this for a mentorship and make a percentage at the same time? I currently hold a full time job and would love to have a few hours a week with my mentor, educating me on how the deal is going and hopefully becoming someone I can reach out to in the future when I decide to do my very own flip. Any thoughts on how to find a mentor like this? Thank you!!!

Jason Smith · Answer

@Victoria Daley Great to hear you are very serious on finding a mentor. I would suggest not exchanging money for their services only until you have vetted them properly. We live in an age that real estate education is a very lucrative career. I have to include BP in this discussion as well. Making sure that they are “active” investors and what they are teaching has to match their actions as well as the time. I started back in 08 when the RE education business began more “business” than actually teaching folks how to find, fund, fix, and then flip. Today it’s more analytics and how to push that message to the masses. I am not bashing the “real” content creators just stating the facts about the others. Real mentors that is pushing good quality ￼content￼ are the ones you should align yourself with. If you decide to pay someone, ask if you can shadow them to see how the day to day is as a RE person.

Happy Hunting

Antonio Cucciniello · Answer

@Victoria Daley The Mentors are on here! You just need to reach out and offer your money in exchange for their time.  Money is often the easiest way to get a mentor.

William Allen · Answer

@Victoria Daley, here are some things to think about when looking for a mentor (from my experience at least)1) No one is going to mentor you for free, it doesn't have to be money but it certainly won't be because you said "hey, I see that you are successful and I NEED a mentor, will you be it?"2) Going back to step one, instead you will need to add value with nothing expected in return. And don't ask what they need because that is just another "to do" that gets added to a successful persons list. Instead, know your skills and your abilities and use that to help them and propose what you could do to help. That stuff gets noticed and you will slowly work your way in.3) Going back to step one, pay for it as there are a ton of great coaches, trainers, mentors out there. But it's up to you to find those that you should personally work with. That decision is likely different for everyone, and if you keep reading I'll show you why.When you are looking for a mentor, coach, trainer, etc... who do you pick?1) You need to pick someone you align with, core values will drive you there. Figure out who you are and then who out there has similar values to you.2) Find someone who has done what you want to do and replicate it. They should have gotten to the place you want to get or are ahead of you on the way there!3) When you find that person that you see yourself becoming or following, go all in and follow them. Listen to them, buy their stuff, dig into their material, don't get distracted. This goes for someone you pay or someone you help. Don't question it and execute and take action.Good luck finding the right fit for you!  Everyone likely needs someone a little different to really blow up!

Jay Helms · Answer

@Victoria Daley - congrats on taking the plunge and looking to the next step. Have you thought about joining a mastermind?

Chris Seveney · Answer

@Victoria DaleyIke others mentioned, get atleast five referrals and five properties they have done and look up addresses and make sure they owned them.

Also run a full background check on them. What I tell people is imagine you are leaving for a weekend and leaving your newborn with them during this time and you have no access to email or phone. How would you now if this person is trustworthy

There are so many shady people and scammers out there so be careful. Also have your attorney right up a contract (do not use theirs).

Joe S. · Answer

@Victoria Daley there are many investors that will help train you for a fee. If you produce leads someone will help you run and harvest them for part of the profit. If you want free training look on BP you will get a “ Little” more than you pay for.

Gina Kopera · Answer

I am on my 9th flip, solo! Message me anytime.

Gina Brady

Gina Kopera · Answer

I am on my 9th flip, solo! Message me anytime.

Gina Brady

Rachel Imhof · Answer

@Victoria Daley I am not sure where you are located. I'm in Chicago. My husband and I are active flippers and also do new construction. If you are interested in hearing more about what we do please PM me and have a chat. Take care

Mentoring in exchange for capital?

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