Building Relationships without Purchasing any Apartments

6 Replies

Everyone usually talks about getting a mentor when you are starting this path of investing in real estate. Most people, like myself, don't have anyone willing to mentor for free or even do it for that matter. I keep reading on here and other places to learn, but when is it a good time to spread your wings and try it? 

Yesterday.  But since you already missed that one, today should work just as well.

I haven't met any real estate mentors who work for free, but a good one is well worth the cost and should produce a very high ROI. Look up Brad Sumrok.

the most valuable relationships I have with other investors are investors I've done deals with sometimes a way to get a good mentor is just do it deal....  Find an awesome deal and connect an iinvestor to that deal without a finders fee.  I have done this a few times and the value I get from the relationship far outweighs the value of a finders fee.

You have to market your strengths, What do you bring to the table,money ,construction skill, web skills, marketing, etc

Flip it on its head. Instead of looking for a mentor for free... go work for one for free.

Your market is big enough that you will have two types of people looking to invest in multi family's that you can work for. Large institutional investors backed by hedged money, and smaller real estate investors that have worked with a mentor and are structuring this type of deal. 

Once you identify them do what @Steven Picker recommended and play to your strengths and reach out to them and come on board as an unpaid intern.  Go there to learn and bring value... not just steal all their secrets.

Mentors are overrated.  You can learn plenty from multiple sources.  There are always books and publication that can give you a ton of information.  Then you just need to start.

If I had a mentor, it was someone that I knew that owned apartments.  I asked him many times to help me get started.  His answer every time was the same "just go buy something", "You will learn".

I was a little frustrated at the time.  But I followed some books and got started.  Eventually, I surpassed him in properties and knowledge.

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