It is very difficult to succeed in a certain field without someone who will push you and support you or at least somebody who can give you the right tips. In the real estate world, it’s hard to start, especially if you don’t know what or where to start. Finding the best mentors who can give you the learning, tools, and guidance is very imperative to make it big or have traction in this competitive industry.
Today, I am sharing with you my experience on how I was able to find the right real estate mentors that had helped me started and succeed. Though honestly, I’m not bragging, I am not perfect, I still make tons of mistakes as I go through my journey in the real estate world, but the important thing is it has helped me learn from those blunders and improved myself.
Personal Experience How I Found My First Mentor
When I was making a shift from construction to real estate investing, I was always overheard this individual who was always discussing apartments that he owned in the city of Indianapolis, performing construction and also he is doing property management. What I did was I approached him and invited him to lunch to talk about Cross Fit since we are a gym mate and his business because of my curiosity.
We did have a sit-down and ask him his difficulties he is currently facing on his business and offer him my services or assistance. At first, he was a bit hesitant but I said he doesn’t need to pay me anything.
This is pretty much how I started and through that experience, I was able to compact his 20 years of knowledge to 2 in a half years I worked with him. It has given me several understanding and learning how everything works. Yes, you can pay for mentorship but what I did was I invest my time by exchanging my skills or knowledge to get the mentoring I got.
1. Attending Local Real Estate Investing Meetups
By attending meetups, you can go to meetup.com and key in the real estate keyword and start networking. Most of these meetups do have newbies along with some movers and shakers in the industry. This is one way on how you can find a mentor.
Just all you need to do is to approach that person and see how you can bring them value. One way on how you can provide someone value is by bringing them a deal. Make sure to find a mentor that is in-line with the niche you are looking for. The way I first bought my first deal was with my mentor. I found the deal and he had the funds, through that I offered him my deal in exchange for the information on how everything works.
2. Go to Free Trainings
There are several free trainings out there that can help you find the right mentor. One person I look up to is Grant Cardone. What I like about him is he is doing what he is saying. That is why if you have a mentor, it is best to make due diligence to check if they are doing what they are saying. In my personal opinion, when you say mentor, it doesn’t necessarily mean that they have to be there in front of you.
Grant Cardone, for example, does have numerous books and videos that have helped me learn become better well rounded in my skills. With their personal experience and insights, it helped me know more about their success stories. For me it’s not about one-on-one mentorship, though it’s also effective, but there are a lot of tools right now that you can use to get the mentoring you need especially the availability of technology these days.
3. Invest and Go
This is the one when you are investing your cash with someone and learning on the go. Can learn the process of a syndication, updates are made to partners, how marketing documents are put together, underwriting assumptions financials on the deal, the legal side and so much more.
Another effective way to look for a mentor is through biggerpockets.com. I’m not affiliated by any means to biggerpockets.com, I do contribute through blogs and videos to bring you value but it’s free. You can go out there and network with others that are in the space and find someone who is doing deals.
When reaching out, it is important to find a mentor that is in line with something that you want to achieve. With biggerpockets.com, you can find people wherein you can offer a deal for you to understand the process.
5. Do Great Work
When you do great work and you can attract a mentor. Meaning, you are out there and you are crushing it yourself let’s say you are on the buy and hold side and you are an up comer, then a mentor who is doing a large scale deal could reach out to you and see how they can bring you on-board to what they are currently doing. That’s another way of a free process on how you can get a mentor, it’s more of a being great of what you do and then attracting people who are large scale who wanted to work with you.
6. Go to Where They Hang Out
One route to finding real estate mentors is to go to where these people hang out. It can be conferences or country club in your city wherein you can go out there and start learning. Instead of requesting from the start mentorship, what I do is propose ways on how I can bring them value like exchanging my services for free.
In conclusion, finding a mentor is very important as you can be able to learn a lot from them. You can learn from their mistakes, failures, and success stories. Through that way, you can apply it on your own and learn how things work. Of course you have to make sure to select a mentor with a good reputation or track record in the industry. Surely, you can find one that can help you start.
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