Large Multifamily Property Mentor

[Justin Walker]

Hello all,

I am relatively new here and would like some recommendations for a good mentor. I want to specialize in commercial properties, mainly large multifamily apartment buildings and NNN properties. Could anyone point me in the right direction?

[Evan Polaski]

@Justin Walker, before paying any mentorship, I would spend some time doing research online for free. As you experienced, most "seminars" are marketing funnels to upsell something more. And honestly, MOST but certainly not all paid mentorships are just mid-level marketing funnels to get you to do more (common examples are deal sourcing or raising capital, where you do the work and keep a cut, but the mentor also gets a decent cut, too) Not to say it isn't worth it, but a multifamily mentor will not help you on NNN deals, and at this point you don't know what is better for you.

Additionally, I always recommend you start doing smaller deals first before hiring a mentor.  Some mentors are more marketing focused, some are operational, some are just high level logistics items.  If you learn that operations are pretty straight forward for you, but you need some pointers on marketing to bring in more capital, then it would be better to focus on marketing-biased mentors.  

Alternatively, NNN properties can be a lot of things. My mind always goes to retail: the free standing restaurant or Walgreens, for instance, which have their own nuances for finding good deals. But technically, most industrial (single and multi-tenant) and multi-tenant retail, are NNN too. They have their own nuances. When underwriting deals, they have different management fee structures, leasing commissions, expectations on tenure of any vacancies, TI allowances, etc.