How To Find A Multi Family Mentor

16 Replies

@Roddy Walker if you are looking to hire someone there are a lot of great coaches out there. Look for a coach who has been in the multifamily business for at least 5 or more years, is actively doing deals, is where you want to be and doing the type of deals you want to be doing. Then interview them and find the best fit for your personality, skill level, and experience. 

What are you looking to do with multi? As buy and hold passive income stream? I would try to speak to people in the position you want to be in in 10-15 years and ask to take them to coffee and pick their brain. Bring value to the conversation and ask them how they would get started in today's market. After some time you will find similarities and common themes that will help you guide the way. In terms of a formal mentorship? @Greg Dickerson has the right advice to find a paid one. 

@Roddy Walker - If you have not already done so, check out @Greg Dickerson - he coaches people.  He can't come out and say it because of this forum's policy.  I had the pleasure of speaking to him recently.  He's very knowledgeable and IMO fairly priced as far as paid mentors go.  I don't work for Greg and I don't make a dime by saying these things.  I just wanted to say some kind words about him because he's a nice guy, has worked with some of the best in the industry and can probably help you.

Originally posted by @Chris Tracy :

@Roddy Walker - If you have not already done so, check out @Greg Dickerson- he coaches people.  He can't come out and say it because of this forum's policy.  I had the pleasure of speaking to him recently.  He's very knowledgeable and IMO fairly priced as far as paid mentors go.  I don't work for Greg and I don't make a dime by saying these things.  I just wanted to say some kind words about him because he's a nice guy, has worked with some of the best in the industry and can probably help you.

Thank you for the kind words Chris. 

Look for coaches that have been in the business and are currently active in the business. There are a lot of coaching programs out there that hire people to coach. Some are good and some use coaches with little to no experience. Also, you need to figure out what type of coaching is best for you. We do some 1 on 1 coaching, but also some mastermind group coaching. Both can be great, but it's not a one size fits all 

@Roddy Walker   Start listening to podcast. Figure out which one you get the most value from and reach out. The majority of these guys that extreme bandwidth offer coaching and or consulting. See podcast below ...

Rod Khlief, Michael Blank, Jake and Gino, Vinney Chopra, Adam Adams, There are more, but these should be a good start

Originally posted by @Roddy Walker :

What Are Some Good Techniques For Finding Multi Family Mentors? I’m Eager To Keep Learning And Believe That Coaching Could Help Sharpen The Process.

#1: The best start would be to not capitalize the first letter of every word in your post. 

#2: Stay away from most online gurus and only go with ones that are actively doing deals. 

#3: Utilize BP / YouTube / Google and get most of the info for free. As a bonus, you will also save a ton of money.

 

@Roddy Walker be in service to that person, add and provide value first, help him to solve one of the problems that he is having , whatever that may be and than you can ask him/her to become your mentor. Make sure that person is actively investing into the multifamily today.

@Roddy Walker find people who are successfully doing what you want to do, learn all about them and figure out a way to add value to their business so you can learn from them.

I agree with @Omar Khan and @Danny Randazzo Find people who are not only doing what you want to do, but operating in the markets you want to be active in. These days market knowledge is crucial. I have a question though for this thread because it's something I see as a need in the passive investor community, especially in terms of syndications. When I was studying for certification as a Certified Financial Planner, or CFP, it was highly emphasized that a financial advisor operate as a fiduciary to their clients. This means that you put the needs of the investor above the needs of your own business. The ethical standards for the fiduciary role are very high. We certainly need this ethic in helping passive investors find their way in multifamily syndications. There is a great need for coaching passive investors who are structuring their retirement and investing millions into syndications. That's an area where more coaching needs to happen and in a highly ethical way as a fiduciary. 

Originally posted by @Mike Krieg :

I agree with @Omar Khan and @Danny Randazzo Find people who are not only doing what you want to do, but operating in the markets you want to be active in. These days market knowledge is crucial. I have a question though for this thread because it's something I see as a need in the passive investor community, especially in terms of syndications. When I was studying for certification as a Certified Financial Planner, or CFP, it was highly emphasized that a financial advisor operate as a fiduciary to their clients. This means that you put the needs of the investor above the needs of your own business. The ethical standards for the fiduciary role are very high. We certainly need this ethic in helping passive investors find their way in multifamily syndications. There is a great need for coaching passive investors who are structuring their retirement and investing millions into syndications. That's an area where more coaching needs to happen and in a highly ethical way as a fiduciary. 

Kinda hard for most "syndicators" to be fiduciary when (A) most people (including myself) have trouble spelling the word and (B) your mentor/coach/guru didn't go over this exact topic in their brilliant coaching program. 

This is why researching the background and professional ability of a sponsor is crucial. Merely being a "nice guy" doesn't cut it because there are so many moving parts involved. 

 

Who models your belief's and is actively doing what you want to do/achieve/hope to be? Ask yourself those two questions and research them out. There are some good programs if you want to dabble in those before you sign up for their mentor programs. 

As many have provided great content just keep in mind that because you hire a mentor doesn't mean the learning stops. You are still accountable to go out and devour everything you can to gain that experience. Also put it into practice. 

@Roddy Walker definitely there is, find who would you would like to learn from and find out what type of problems this person is having and how you can be in service for him. Don’t just approach a person and ask him, be in service first.