In need of a mentor
I have an established LLC in need of mentor. to help my business grow with experience in out of state rentals,land trust,pre-foreclosure. I already have one rental in niagara falls ny but looking to add 10 rentals by the end of 2022. area and cities do not matter.experieced honest investor or investors I need your help trying to avoid major mistakes creating systems to encourage cash flow and generational wealth. Thanks in advance
#4 All Forums Contributor
- Plymouth, MI
First, and at this point, the 2 most important pieces of advice I would give to you is this.
1 - Change your goals. NEVER set a goal based on a number of properties over a specific time period. The goal is financial...always...and that doesn't mean you base the number properties on an average per property.
2 - Never buy properties. Only buy deals. There's a huge difference.
I don't believe there is such a thing as a mentor.
Post numbers for the properties you are looking at.
Patrick, Please feel free contact me with anything specific that you need help with. I'd be happy to help you if I can.
#4 All Forums Contributor
- Plymouth, MI
Originally posted by @Account Closed:I don't believe there is such a thing as a mentor.
Post numbers for the properties you are looking at.
Feed a man a fish, and they eat for a day,
Teach him how to fish, and they eat for a lifetime.
@Patrick Thornton Do you live in WNY? Between Buffalo, Lockport, and Niagara Falls you have pretty much every option for investing from cash flow to appreciation and everywhere in between. If you know those markets well you have a distinct advantage and don't need to invest out of state.
As for a mentor... Eh.. You are probably better off with a professional in each field. An investor focused agent can "mentor" you by putting good investment properties in front of you. A property manager can manage or project rents, inspector can inspect your home and teach you about the inspection process, etc...
#1 Starting Out Contributor
- Specialist
- Mendham, NJ
You need to readjust before you get yourself caught in someone's web selling you a course or mentorship. If you say "area and cities do not matter" you are not ready. How is that possible? Do you just want to toss your money into someone else's hands? What do you want to own? What makes you think you can go from 1 to 11 in a year and what's the source of all of those deals for financing or cash?
Thanks for reply I will be in touch
Thanks very helpful