The other night after my meetup, a great person and investor expressed her thanks for helping educate, analyze, and chat over the last year (or so?) in her and her partner's search for a property. And how much it really meant to her and her financial future.. :)
It was inspiring hearing that from someone! I can't even imagine how @Brandon Turner and Josh feel! Better than anything I've heard in a while I think :) And on top of that, the 3 of us have developed a friendship over the last year. (and even got to crash in their spare room the other night in San Francisco after staying up too late with them after BART!) I'll let her jump in here if and when she sees this and wants to..
Truly a mutually rewarding experience :)
And I only even know a chunk of the infinite real estate knowledge out there. For the time we have spent talking, there have been many investors that have spared their time, knowledge, and experiences to contribute to my education and growth over the years. More about that below..
Some "Mentor Tips"
This exchange didn't happen from running up to me and asking if I could be a mentor and analyze this and that deal. They came out to meetups regularly, did their own research also, talked to lots of investors, and demonstrated a true interest in expanding their knowledge. (Didn't hurt that they're good people too!). This is similar to the approach I took when I reached out to a local real estate researcher in this recent post. By performing my own analysis and sending it to him instead of just asking questions about his analysis, he was wiling to sit down and share some of his knowledge.
Whether you're buying turnkey, wholesale, or flipping - New York City, Los Angeles, or Houston - genuinely connecting with someone you can get help from and exchange info with can't be measured in gold. And so...
Shout-Outs to the many who have helped me throughout the last couple years!
First, @Johnson H. , who introduced me to BP, inspired me to pull the trigger on jumping in (whether it was his intent or not ;) (And a big thanks to BP!). His meetup in San Jose is also a great resource, and he helps other investors without any financial return to himself. Cheers Johnson!
@Sarah Lam undefined, who scheduled the first meetup I ever went to. This was the kick-off of opening my eyes to what was possible and getting more involved. Thanks Sarah, wherever you are!
@Minh Le of course will always be near the top of the list for all his wisdom, analysis, and time sharing his knowledge - especially when I'm in the middle of trying to close a deal and make sure I cover all my bases! And all your thoughts on cycles, variables contributing to tops and bottoms, etc etc etc. Thanks Minh, as always! Let's find that rent data and put together some charts!
@David C. , for his insights as a business owner, RE investor, and diligent rehabber :)
There are a ton of other investors that were great in coming out to network and learn at the Summit in SF last November, who I can't thank enough, and many many more investors locally and from around the country on BP that I have learned from person to person and on the BP forums.. and don't have the clicking power to tag them all here..
Last but not least, thanks BP for the great way to learn and connect with other investors!
Have any mentor tips? Have you recently helped mentor someone? Have you recently been mentored and appreciate it? Give someone a shout out!
@J. Martin thanks for the shout out, but without your initial feed back I would not have entered into the Oakland market with both feet! Your passion for the industry and for BP is definitely addictive and a great inspiration for me. Keep up the data analysis and organizing so many great meet up opportunities in the Bay Area. Just remember to keep some time available to find more deals!
Thanks for the kind words J. It was my intent to show you that someone in our line of work can do it and its really not all that difficult. I'm glad my push for you to get on BP has done so well for you that you are doing better than me these days :) Thanks for coming out to my meet ups and thanks for putting together your San Francisco Meetups and your fun and excellent RE Summit. I'm looking forward to the next one!
Hey J. M. , he has certain guiding principles & reasonings when he invests, they are backed by data and local market observations. That was good mentorship too :)
J, glad you were able to help a new investor. Good Karma is better for your health :)
I had a great chat with @David C. yesterday. We share a lot of similar viewpoints for this housing cycle, and where things would likely be in the next downturn. I'd have to buy us lunch for us to share this precious info with you.
Some people that I met at Johnson's meet-ups asked me why I go to these meet-ups. they see I don't get anything out of it. To be honest, I didn't expect to get anything out of it. This was my thought. Johnson puts in the time, effort and travels from SF to SJ to host the meet-up. It would be a shame for me not to attend and share what I have learned when I live right next door to the place.
As much as I didn't expect anything out of it, I got two loans through your contact and saved ourselves $17,250 in fee. That's one point. We'll pay our dues when the loans close on May 15th.
Here is a picture of my mentor who taught me everything I need to know about trustee sales. I knew him from another real estate forum more than 5 years ago. Just met him for the first time earlier this month. Still feel exciting. He reminds me of this saying "Give a man a fish you you feed him for a day. Teach a man to fish and you feed him for a lifetime." Thanks Master.
J. M. such great points!
I think mentoring is good for both the mentor and the mentee (is that even a word?!?).
The key for me are specific questions about specific deals or situations. I'm always happy to help folks, but a blanket question of "will you mentor me" will almost certainly get a no because teaching someone from the ground up doesn't fit in with the daily running of my business.
“@J. Martin thanks for the shout out, but without your initial feed back I would not have entered into the Oakland market with both feet! Your passion for the industry and for BP is definitely addictive and a great inspiration for me. Keep up the data analysis and organizing so many great meet up opportunities in the Bay Area. Just remember to keep some time available to find more deals!”
Thanks for the shout out Arlen! :) Just be careful how much of my Oakland Koolaid you drink ;) I just got 3k envelopes to mail it out, so I’m trying to remember to keep time for some deals..
“Thanks for the kind words J. It was my intent to show you that someone in our line of work can do it and its really not all that difficult. I'm glad my push for you to get on BP has done so well for you that you are doing better than me these days :) Thanks for coming out to my meet ups and thanks for putting together your San Francisco Meetups and your fun and excellent RE Summit. I'm looking forward to the next one!”
The San Jose meetups are great! It’s worth the time to come down from Oakland just to chat with you, Minh, Arlen, and David. On top of the rest of the crew! Thanks again for the inspiration ;) I really don’t know what I would be doing if you hadn’t introduced me to BP, and invited me to that meetup with Sarah Lam in SF. That’s what sparked a lot of realization for me and got me extra motivated. On top of the initial inspiration to just hop in..
@David C. ,
I agree; I think it has helped me clarify my own thoughts and reasons for investing, in addition to realizing how much RE info and reasoning is buried down there somewhere in my brain.. And I learned a little about other price points and geographies they were bringing me in the process.. On top of feeling great helping someone else, there are other benefits to mentoring others. Lynn, can you elaborate a little on why you think it can also be beneficial for the mentor? Or how it has benefited you, more specifically? Maybe that will inspire some other mentors or would-be mentors out there…
Great question, J. M. who answers many questions for many people!) that I like to bounce things off of. There are a couple of people that, without their help and nudging, I would never be doing what I'm doing today.
I do know my limits though. I'm not very regimented and teaching someone from the ground-up really isn't a good fit for my business. That's actually why I started my video series documenting the build of one of my houses and posting the videos of the speakers at a meet up that I co-host. One of my future goals is to try to be more active on BP and answer more questions here, but I tend to spend more time on job-sites these days than in front of a computer!
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