Mentor Possibility.

Mentor Possibility.

Flooring Contractor · Round Rock, TX · Member since 2013 · 20 posts · 3 votes

Ok so today I was at work with my colleagues and it was a job that one of them had gotten. When I got there I noticed that it was being completely remodeled. So the first thing that popped into my head was that this was someone that was doing a flip. So I go to the general contractor and ask him "hey is this property being flipped?" And just as I had thought, it certainly was. So I talk to the GC for a little bit longer and got the name and the number of the investor who is flipping the house. Here's my question: I know that I would have to add value to his operation that already seems to be running quite smoothly, but how should I approach this. I mean I don't only want to install his floors. I really want to learn from someone who is in the trenches. I don't want to call him before I know what I am going to say, so I'm kinda looking for suggestions as to how some of the rest of you would go about this? I mean I can't just call him up and say will you mentor me. Please if anybody has any suggestions I would greatly appreciate it. I would like to wholesale him properties but haven't found any yet so that's not really an option. I was also thinking of asking him what his acquisition strategies are but I'm not sure that that wouldn't be viewed as getting in his business. Please let me know what you guys and gals think.

Lance

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  • Investor · Santa Rosa, CA · Member since 2012 · 402 posts · 96 votes
    13y

    For me, I've met people and basically have been up front and just spoke with them. There have been people that I've just clicked with more than others. So far I haven't had someone just take me under their wing and shown me how to make a fortune but I've made valuable contacts that have come in handy.

    With some investors I bring potential deals and they give me their opinions and that has been valuable. Anyways, imo, I wouldn't get too wrapped up with what may happen with this guy, just go talk to him, be yourself show interest and see what happens. I've thought of offering to work for free so I could learn stuff but I've never done it.

    You keep on kicking up dust like you're doing and you'll meet a bunch of people.

  • White House, TN · Member since 2013 · 47 posts · 5 votes
    13y

    You may be able to work out a trade on some of his jobs like doing the floors for a piece of the action. If you can do more than floors maybe you can get a bigger piece!

  • J ScottPro Member
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    Investor · Sarasota, FL · Member since 2008 · 18k+ posts · 17k+ votes
    13y

    Coming from the investor side, I would recommend waiting until *AFTER* you complete the job to speak with the investor. Personally, I'd hate to be put in the situation where a contractor I don't know and who is about to start work on my property comes asking me for a favor -- it just puts me in a tough spot.

    That said, I have a contractor now who I'm starting to mentor. But, he's been with me for over a year, has proven his loyalty and has done plenty of favors for me in the past, so I'm happy to return the goodwill. Perhaps you should wait until you've done a few (great) jobs for him before asking him for help?

  • Flooring Contractor · Round Rock, TX · Member since 2013 · 20 posts · 3 votes
    13y

    Thanks everybody for the input. I appreciate it.

  • Real Estate Agent · Los Angeles, CA · Member since 2013 · 42 posts · 0 votes
    13y

    @Lance Pualani I would join the various REiA and REI clubs in the San Diego area. Begin taking the steps of wholesaling and network, be open to what you are seeking in the mentorship and how you will bring value to the table.

    -build you buyers list

    -find the sellers/leads in the market

    -get a deal and match to the buyer

    -close the deal and get paid

    If I can be of any assistance, I am San Diego monthly.

  • Commercial Landlord · Macon, GA · Member since 2013 · 79 posts · 33 votes
    13y

    When I was starting out I would constantly ask investors to lunch. I would say "your talking and I'm buying".

    Find something to offer them before you ask for their info. Maybe a discount on those floors.

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