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Ashley Hall
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How to find RE Mentor & Cost ?

Ashley Hall
Posted Jan 9 2023, 15:24

I have been wanting to purchase a property for several years now and perhaps the many reasons for delay have been a blessing in disguise, as over the past 3 months my eyes have been opened to the many RE Investment options and I'm ready to put things into motion.

I'm very much a beginner, but I've decided what type of properties I'm willing to consider (e.g. consumer-multi unit), what location (Central/South Florida), and a handful of other preferences, I know that I will need partners (property manager, maintenance/handyman, lender, realtor, etc). I NEED to buy my first property (FHA) this year. I could sit and continue to read, watch, listen, but I feel the hours, days, weeks, months slipping by. I feel like only people with 10yrs experience have the adequate know-how to pick the right properties and know what to look for, I will never catch up to that.

I've been searching trying to find a mentor that could help me, but I don't know what price or cost structure is reasonable. One coach/mentor wanted $15k w/guarantee to purchase my first property in 90 days and stick with me for 1 year. I've reached out to an REIA in my state who offers to pay 100% the costs, I'm told REIAs are legitmate source and this one has great reviews.

As a newbie, I don't know what to trust and what's reasonable, but I also know I need guidance. I don't have $15k to give to someone, not because I don't believe in their value, but I don't want to put myself at-risk and wipe myself out trying to get into a 1st investment. I also don't need someone to front me 100% cost nor do I want them to. I'm not destitute, but also not in abundance.

Here are my Asks....

How to find a real estate mentor to guide me in my first purchase?

What is reasonable cost ?

Should a mentor be in my city/region/state?

If a mentor is in the tens of $k, creative ways to make it work (I guess kind of like creative funding for RE?)?

Ideally (and someone tell me if I am wrong for this) I mainly would like for someone to coach me along to acquire my first property and set up. Then as I am reducing my expenses/generating income with this property I can say OK, I want to use this money to re-invest in myself and get some long-term mentorship to continue RE investing, additional education, etc.

I'm open to feedback, insight, suggestions, etc.

Thank you

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