Looking for Mentorship in the Washington DC Metropolitan Area (DC/MD/VA)

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Looking for Mentorship in the Washington DC Metropolitan Area (DC/MD/VA)

RW Carney III
Professional · Dumfries, VA · Member since 2012 · 4 posts · 1 vote

Hello, to all concerned my name is RW Carney III. While I do want to remain within the guidelines of the forum and not solicit business, I do not know how to make myself of value to a potential mentor without some solicitation. 

I have started an LLC and my focus is all forms of real estate investment (flips, wholesaling, rehab and hold and/or rehab and retail). I have a background in commercial real estate development as I was an Operations Manager for a local real estate development firm developing PPEA projects nationally for educational and municipal institutions. I was responsible for RFI, RFQ & RFP responses in aspects of verbiage as well as graphical design. I am familiar with proforma creation and utilization, in addition to receiving a certification from George Mason University for project management with a focus on feasibility.

While one would think these credentials are enough to translate into a successful independent career, I am having difficulty translating a limited and basic commercial real estate experience into the experience needed to begin with regard to real estate investing for myself. This is where the solicitation begins. 

I would like or hope to find a local mentor (with a verifiable and successful track record) willing to show me the ropes for a limited stake (sweat equity) in their projects. I would be willing to work under a 1099 and assist that mentor however they saw fit as long as I could accomplish my simultaneously running goals of learning the ins and out of real estate investing and I were able to receive compensation in a limited amount, as to free up my time to  be completely at whomever's disposal. Where I feel my value to the mentor lies, is that whatever mentor would be able to focus upon more transactions and thus bring in additional income with my assistance. I can provide a resume and verifiable references. If in my ignorance any part of my request is abnormal or unrealistic, please let me know, as I am very serious and would like to accomplish the goal of understanding this business.

Thank you all for your time and I wish you all success in your endeavors, wherever they may take you.

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  • RW Carney III
    OP
    Professional · Dumfries, VA · Member since 2012 · 4 posts · 1 vote
    12y

    I apologize but I also wanted to make it clear that if I must purchase something or pay some fee for your mentorship, your opportunity (while possibly well intentioned) is not the opportunity I am looking for. 

    Again, thank you.

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  • Ophelia Nicholson
    Involved In Real Estate · Hyattsville , MD · Member since 2011 · 298 posts · 256 votes
    12y

    Sorry I haven't posted in a long time - I've been busy but if I'm understanding you correctly.  You want me (using myself here) or anyone else with verified and successful track record to mentor you.  Then I turn around and teach you the business while paying you to learn..

    What value would that be to me or anyone else who is already running a business? You have listed a bunch of things that you have but none of it is valuable to me.. I could be wrong and it is valuable to someone else but not valuable enough for you to get sweat equity or a 1099.  You are looking for a job not a mentorship.

    I would never pay someone to learn the business- Do you understand the concept of mentorship? What value would you bring me that a random person off the street wouldn't? I could hire an assistant pay them a 1099 and it would bring the same value that you would to my business.

    I apologize if I misunderstood your request but to me it makes no sense to anyone who would want to mentor someone.

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  • RW Carney III
    OP
    Professional · Dumfries, VA · Member since 2012 · 4 posts · 1 vote
    12y

    Not to be contrary but the concept of "sweat equity" isn't new nor is it abnormal even in a mentorship situation. While it may suit your or whomever's ego, (not to be rude) to have someone looking to you as mentor that you only compensate (if you compensate them at all) when you "feel" they are of value regardless of they work they do for you, I've personally experienced different on both ends. The "limited stake", "sweat equity" and "1099" statements were and are one in the same, so I apologize if in that there is any confusion. I'm not expecting a percentage of the deal AND income from a 1099 type of situation, it was either or and I believe that my attempt to show flexibility appears misconstrued. Realistically speaking, while I get that your intentions were to assist, the fact you define your personal taste as if such was the end all be all or anything more than simply your personal opinion, gives me pause.

    The same could have been said simply by the absence of your post. But to answer your question or respond to your statement, an assistant most likely won't have experience regarding project management, property management, cost analysis regarding larger development projects and other things that as you described you see no value in nor would they be able to point to large infrastructures around the Beltway that they assisted in producing and/or managing. I'm not completely new to real estate (at all) I'm looking for someone to assist in the translation of the knowledge I do have into the business style that I personally would like to achieve. As for such being a job, in a way you're partially right as I personally didn't expect to commit less than two years to this mentorship (if agreeable to that mentor) and I apologize if my understanding the value I possess (even if you personally are in disagreement) offended you or made you feel as if I was asking for something unreasonable. Maybe I'm reading such incorrectly but your confusion seems mildly ill-placed and off-putting considering, you're simply in disagreement with someone you don't know, who wasn't necessarily speaking to you or your personal situation.

    Again, I appreciate what you were intending to do but the answer to your question or response may be a simple as you may or may not do the volume, have the scope or focus regarding scale of investment needed to be that individual to which I'm speaking of. Even simpler still, you may just not agree and you are entitled to do so but again thank you for your feedback. If I continue to receive similar statements from multiple investors of the scope and range I'm looking for, please rest assured, I'll adjust my request and strategy because as I said before I'm looking to succeed.

    Thanks.

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