How can aspiring real estate investors find mentors — for free?
All the greats have mentors. The best investors, real estate moguls, coaches, athletes, and politicians have all had mentors. Not every new investor can afford or justify the high cost many real estate trainers are trying to charge today. So how do you get this crucial help without a big budget for it?
How to Purchase Real Estate With No (or Low) Money!
One of the biggest struggles that many new investors have is in coming up with the money to purchase their first real estate properties. Well, BiggerPockets can help with that too. The Book on Investing in Real Estate with No (and Low) Money Down can give you the tools you need to get started in real estate, even if you don’t have tons of cash lying around.
7 Ways to Find Free Real Estate Mentors
- Use BiggerPockets to tap into their advice, feedback, and strategies.
- Join local meet up groups and networking events.
- Go where they hang out and strike up a conversation.
- Volunteer with causes they are involved in.
- Simply do awesome work — then get noticed and get recruited by them.
- Go to their free trainings.
- Invest with them and learn as you go.
How I Did It
What I did was find a mentor who worked in all the elements in real estate. They were involved in everything from purchasing the property to rehabbing the property and property management. This investor happened to work out at the same CrossFit gym as I did.
I overheard on multiple occasions his conversations on all the elements he was involved with in the industry. I offered to work for this person for free (yes, I said for free) to help with whatever was needed in his business. In return, in two to three years. I learned what would have taken most investors 10-15 years to learn. I basically pulled from his 20 years of experience in the industry and squeezed it into those few years. It helped me sidestep most (not all) newbie mistakes and a lot of expensive trial and error.
What’s Important in Finding a Mentor
It is vital to remember that just because someone in the industry is willing to mentor, train, or put you to work for free, that doesn’t mean there is value for you. You’ll learn something, but if you really want to fast track to your goals, you need to find a great mentor who has been there and done that. That is someone who is not only crushing it in business and is getting the results you want, but is also good at mentoring. This really worked for me, but it is always good to evaluate your options and test them out before making a big commitment.
If you want to learn and earn real estate in the most effective and profitable way, it pays to get a mentor. Some are comfortable with paying tens of thousands for training programs, while others such as myself don’t have that amount of capital starting out, so we barter with our time.
If you have a mentor, how did you find them?
Let me know your experiences with a comment!