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Updated almost 9 years ago on . Most recent reply

User Stats

15
Posts
1
Votes
Federico Martinez
  • Elizabeth, NJ
1
Votes |
15
Posts

looking for mentor

Federico Martinez
  • Elizabeth, NJ
Posted

Hello, My name is Federico Martinez, I am a newbie into the world of real estate. I have just read and finished reading "The book on investing in real estate with no (and low) money" by Brandon turner and as well as "Flipping houses for Profit: a comprehensive guide on how to flip houses" by Brent Driscoll. I am looking for a mentor, or someone I can assist to help them find deals for their business and help them grow while at the same time gaining knowledge and experiece from them as to how the world of Real Estate works. I am interested in flipping houses, gaining residual income thru rental unites and possibly wholesaling. I do not mind where you are from, but I would like to gain a positive and friendly relationship and a life long friend from this experience, I take anything that revolves money very seriously and I do not play games. I am a reliable and positive person and I keep trying till i exhaust every effort to get a job done. 

I look forward to talking to you.

Peace and Love

Offering

Most Popular Reply

Account Closed#1 BiggerPockets Exclusive PRO Area Contributor
  • Professional Auctioneer
  • Baltimore, MD
1,470
Votes |
1,857
Posts
Account Closed#1 BiggerPockets Exclusive PRO Area Contributor
  • Professional Auctioneer
  • Baltimore, MD
Replied

At 74 years old I have been investing and auctioning real estate now for 48 years. I have helped many understand this crazy business and how to profit using the assignment and auction concepts for short term profits.

I feel the frustration of those just getting started investing - issues of financing - finding the great equity packed cash flow property - the fear of negotiating and controlling buildings - the skills of marketing/flipping - the anticipation of cash flow - dealing with title companies, agents, contracts and assignments. 

This reply to your post is not a solicition to mentor you. Before you pay or select someone to mentor you - interview them like you are hiring them to work for your corporation. You may want to ----

  • qualify them - have a written agreement on what your new mentor is going to do for you and what they expect from you
  • Do they have a net worth of  a great net worth  - ask to look at their tax return - don't get emotional involved with a so called mentor, a mentor is NOT a person who has done a few deals or wrote a book or sold programs
  • Are they a full time investor or just blowing smoke and have no net substantial net worth 
  • Get references - talk to others they have mentored 
  • What's their crediting rating - if it's low - something is not right - how many law suits have they been involved in - what issues - bankruptcy- foreclosures - 
  • Will your mentor understand creative financing and nothing down techniques 
  • Knowledgeable on contract engineering ----
  • Hybrid contracts, delayed settlements, skinny contracts, commercial long form contract offers, control and roll systems, money back clauses, contract money back incentives, check funds, auctions flips, tax sales and foreclosure transactions, options and commercial flips, land and business developments, joint ventures .....
  • Don't be fooled by Big Hat and no cattle BS artist or useless books on how to get rich in real estate.

Anybody getting in this business can do a few deals, get lucky, be in the right place at the right time - when an investor performs and creates cash in this business on purpose - making large sums of money on purpose and design - than and only than he can call himself a successful investor.

Your prospective mentor dose not have to have all of the qualities above, but it is your duty to yourself and your new business to select a person who has the skills that will advance your knowledge and your cash flow on an accelerated basis. 

If you are like the most of us you are juggling you real job, balancing your family relationships, paying bills and finding the time to enter a new venture ------- time is not on your side - hire a mentor who understands your goals and needs.

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