Bringing deals to mentors

8 Replies

My friend and I found someone who we want to mentor us. I have heard that I need to make it worth their time to help me. What kind of things does a mentor look for? Should I try and find him a deal? Do I offer to work for free while he mentors me? Do I pay him? Is there any other things that could make him want to help me?

@Kyle Neville it depends on who the mentor is. Some people charge $15,000 for one month of their time. Others are happy to help without compensation but want to see that you're not going to waste their time. Show initiative and take action. 

In general, I've found that the top investors are looking to give back and aren't that interested in taking money from random real estate newbies. They want to leave a legacy and help the community. Taking initiative and finding your mentor a deal is a great way to see how the entire process unfolds without risking any of your own capital. Sourcing the deals is one of the most tedious parts of the investing process and I'm sure the mentors will appreciate the work.

Best of luck!

You are on the right track. 

Very free people will give away there time for free, but this doesn't mean you have to write them a check.

I would encourage you to continue to build the personal relationship and just ask them what type of value can you can bring to them and don't expect or try to get something in return. If you bring them value, then they will return the favor.

So if they are looking for deals, find out what they are looking for, how much they are willing to spend and all other pertinent deal criteria. Then you take that info and go hustle to find a deal for them.

Get after it!

-BA

@Kyle Neville ask someone close to him what 4-5 things that he routinely does but hates to do. Take one of those things off of his plate and do it for free.

 Reciprocity is a part of human nature. Adding value to his life will surely do the same to yours. 

Originally posted by @Kyle Neville :

My friend and I found someone who we want to mentor us. I have heard that I need to make it worth their time to help me. What kind of things does a mentor look for? Should I try and find him a deal? Do I offer to work for free while he mentors me? Do I pay him? Is there any other things that could make him want to help me?

 First of all what does your mentor specialize in? Do you want him to mentor you simply because he knows more than you? You do realize the word mentor is very broad indeed. What is it that you’re looking to accomplish?