Why is it soo hard too find genuine mentorship?

Question

How do you really find mentorship about investing in and flipping real estate? Books, seminars, etc etc are all gud but how do u get that real life experience is it best for me too just jump out there and learn own my own as I go? All feedback is appreciated!

Ellis San Jose · Answer

I found my mentors by bringing them overwhelming value so they could make more money and have more time. What are you offering to the prospective mentors in exchange for their time and expertise?

Account Closed · Answer

@Carl West just get started. Find the area Of real estate that you are interested in and buy a property. When you make offers purchase 70% of retail price minus the rehab cost. Make sure you pull comps and know what the property could sell for when the work is finished. If your math makes sense and your inspections and cost of the property work. Then buy it and get started. You can do it.

Account Closed · Answer

You’d be amazed how many people are searching for a mentor but are 100% in the wantrepreneur category vs entrepreneur category. Start taking steps while searching, 9/10 folks who haven’t started never will no matter who’s guiding them.

John Patterson · Answer

@Carl West

Look at it like a club.

Kinda like bigger pockets. You have to get your hands dirty with someone( keep it 6’ apart of course). Once your dedication is shown , a reliance and a trust can develop. Progressively, they can see what you can do for them. Or you can pay money to someone who will give you key nuggets , but not the bond. I think initiative is the key for sustainability.

First seek to understand, then be understood- Covey

Dan H. · Answer

@Carl West

We are a family operation, so fairly small.  However, We have had two proteges.

The first one did everything we asked him to do including homework assignments to help him gain knowledge/understanding.   The second one did not help us at all, but I sort of knew this going in (so that is not my main issue).  He did not complete the first homework assignment I gave him (my main issue).  The number of times he indicated something he believed that he would have learned otherwise if he had done the assignment was amazing.  It got to the point where I would ask him where he got that info (I knew it was not me) and he would reply I still have to do what you requested.  He mostly never got around to doing the items I requested (in his case they were all to benefit his learning and serving no benefit to us).

Protégé 1 has multiple properties and just sold his first investment property (not something he learned from me as we do buy n hold).  He is successful professionally.  He has acquired significant worth considering he was our handyman (how many handymen do you know end up being millionaires?).

Protégé 2 still has not purchased a property.  He paid for a Rich Dad Poor Dad course and mentor (I guess he wanted more than I was providing but if you do not do the first requested task …).   He is a nice guy and I believe at some point will get into RE investing.  I think he was not at a point were he was ready to have a mentor.  He is also on BP and will recognize himself and he knows protégé #1, but that is not why I say he is a nice guy - I would not have chose him if he was not a nice guy.  Nothing I state here he does not already know.

Being a mentor takes time and effort.  The mentor often has a level of success that his time is largely consumed and he may have little free time.  He certainly is used to very high return on his time that he does not achieve dealing with a protégé that he is not charging.  A successful mentor that takes on a protégé for no compensation is basically doing it to give back.  Kind of like donating to a charity.  Just as there is only so much I can donate to charities, there is even less time available to commit to a protégé.

It could be different if we were bigger and I had a ton of useful tasks that would benefit us that I could assign to a protégé.

I, therefore, am very selective in who I choose as a protégé and why we have only had 2 (one successful and one that has spent money on it but has not started).

Good luck finding a good mentor that is not mentoring for the money but is being a mentor for the sole purpose to help the protégé.

Kai Van Leuven · Answer

@Carl West

Most people are just dreamers and tire kickers. I have had probably 100 people reach out to me over the years. They see the results but they don’t want to put in the work.

Maybe I should take a video in front of a Maserati and tell everyone how “easy” it is. All you need is a computer. NO Money and No Credit. Sorry dude but that is all garbage.

These are the facts. Real estate is competitive, there are no secrets.

My mentoring to you:

Driving for dollars works. Simple strategy.

1. Know the area

2. Find the crappiest house

3. Talk to who owns it

4. Buy

Anyone can do ^^^. I am a person of average intellect and I have made a lot of money with that process.

Ryan Evans · Answer

You already answered your own question. Yes, the best way to learn is to simply go out in the real world and do it. Buy a property and make it work. You're going to do a lot of things wrong as we all do, so might as well get started.

If you want a mentor, you have to give more to them then they are giving to you. If they spent years of time and money acquiring skills and you want to learn those skills and take up more of their time for free, you'd better be bringing something to the table.

Timothy Paul R. · Answer

@Carl West unless you join a mentorship program, I would suggest going to Real Estate meet ups and let relationships form organically from just talking and getting to know people. You gotta get out there though to have the opportunities present themselves.

Julian R. · Answer

@Carl West jumping right in was the best for me. You can do so the reading, analysis and research you want but the hands on experience will not only teach you the most but will help you get over the fear of buying more property. Took me years to buy my first and now if I find the right deal and have the funds, it'll take me few minutes to pull the trigger on a property. Good luck!

Why is it soo hard too find genuine mentorship?

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