Finding the right Mentor in real estate is no easy task, but when you put in the effort and implement the proper action steps listed below, the odds are high you'll find everything you're looking for and more. Making that happen is worth everything in the world.
Seeking out the Guru's (you know, the know it all's you see advertising with their jets and yachts) for advice is not only a bad idea, but it's also dangerous. Real estate gurus aren't going to give you the time of day. In fact, they'll likely drain you of two precious resources. The first being your money and the second is your limited time. Either way, it's not the best approach for beginners in this industry.
Real estate is all about location.
Learning specific strategies that are successful in one area may not yield the same results in another. It's for this reason you're far better off learning what's working within a city from the big players in that area. Furthermore, when you're just getting started in this game, you want to avoid making the same mistakes others have. Having access to somebody local you can trust will save you from repeating those mistakes.
It makes perfect sense a beginner should have a mentor they can trust and work with closely. Now if that's the case, someone would still need to go through the steps to find one. Next, we're going to go through the exact steps you'll need to take right here below.
1.Strong core values
First off, you want to start off on the right foot and not spin your wheels. To do this, you want to identify why you're willing to learn and study under someone. Understand what traits you have that can be appealing to someone willing to work with you. For example, it's far better to listen twice as much as talking. It's a skill top students exhibit. If you go into a mentoring relationship with a poor attitude you're not going to get very far. However, you do want to strike a balance and not get stepped on either. If a mentor looks at you as weak, they won't spend time with you at all. So find a sweet spot and be respectful.
2. Have a clear picture of what you want
Have a crystal clear understanding of what you're looking to accomplish over the next two, five and ten years. If you have a clear image in your mind, you can visualize it. From this exercise determined if you are a short-term or long-term thinker. Understanding this about yourself will save you a lot of stress when it comes to the direction you want to take in real estate investing. Knowing whether you have the patience for a long-term strategy over something that might just be a quick flip makes all the difference. This process will also help you understand the type of person you want to get to know and spend time with.
3. A clear understanding of your personality
Life isn't perfect. A lot can happen quickly and can test who you are. It's not what happens to you, but instead, it's how you handle it. Stuff is going to come your way you'll need to make quick decisions on and not necessarily react to them but preferably respond. A mentor isn't going to work with somebody they feel can't handle tough decisions. They also want to see if you'll do what you say. If you're full of a lot of hot air and talk, they won't be around long. On the other hand, you don't want to be working with somebody that is going to take advantage of you or is willing to do questionable things to get ahead. It just isn't worth it.
What's next, where do I go to find that person I need to work with?
Once you have all your ducks in a row and you have yourself figured out along with the knowing what goals you want to achieve. Then you're in a solid position to move forward.
The first place you can go is a place called meetup.com. This site has grown like crazy over the last few years. I would first suggest you search out people going to local meet-ups already and work your schedule around a bit if need be so that you can attend. The turnaround in these meetings can be high, meaning a lot of people may or may not be back the following week. So you want to get in front of the right people. The meetings attract a lot of new people as well so thankfully on the website you can see who's been to the meetings frequently and start there. Try to spend your time with those people first then work your way out to the others.
The second place you're going to want to look is Google itself. Now there are two steps you're going to take for a search in Google that will be effective.
1) Type into the search field the city you're in, then put in real estate investor and click search. After the results are displayed, go back underneath the search bar and click “news.” You'll come across a bunch of people that are in the news having success within your city.
2) Now that you have a list of names, you can do some research in Google searching for their name plus real estate investor next to it. You're going to find a ton of information about the person you're interested in meeting. You'll likely see what events they attend, what they're involved with regarding deals and where they're currently networking.
The third thing would be to go to places where they hang out in a social scene. This could be a high-end restaurant, a tennis club, a lounge or even a bar. If you put yourself in the places with the highest odds of meeting somebody you're going to come up with results.
The fourth thing would be cold calling. You can look through real estate investment firms, Contracting companies, and any other company that would deal in the industry. You just need to be creative.
You might find it could be challenging to get in contact with these people directly right away. Have patience, these people are busy, and this will take effort. Nothing worth having comes easy. If you are clear about your intentions and provide value to them, It will become apparent its two-way street. You should be off to the races. The end game here is that you both benefit from this new relationship mutually.