What to Look for in a Commercial Real Estate Mentor
A good Commercial Real Estate Mentor can teach you the lessons they have learned and give you the shortcut to building real wealth.
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Real Estate is a people business. You need to have people in your network that you can go to when you have questions. Peter Harris is a successful commercial real estate investor who has been mentoring commercial real estate investors since 2003.
What to Look in a Commercial Real Estate Mentor
Track Record: Is the mentor successful in commercial real estate? Does the mentor own commercial real estate? An active investor will readily recognize potential challenges and help you find the answers.
Available: Real estate Investing is full of deadlines and short windows of opportunity. There will be questions that need answers right away. Will your mentor be regularly available to answer your questions. Will they be there after the sale?
Income: Where does the majority of the mentor’s income come from? Is it from selling seminars, books and student fees? Look for a mentor who makes the majority of their income from their own commercial real estate investments.
Teacher: Are they a good teacher? Can they listen to your questions and effectively communicate the answers? If they only tell you what to do and never answer your questions, you will struggle.
Invested: Is the mentor invested in your success? If they only sell you the course, what is their motivation to guarantee your success? Don’t be afraid to share the gain of your deal with the mentor that helped you get it.
Complete: Can the mentor help you all the way through the process to the operation of the property? The real value is created by improving the net operating income, NOI. If the mentor relationship stops once you buy the property, you can miss out on the potential to solidify your future.
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