How have you gone about finding a mentor?

Question

Hello - I have been slowly building my portfolio and I’ll be up to 5 doors by end of January, 2021 since October of 2017.  I have gone the turnkey route since i have a pretty demanding W2 job at Amazon where I’m able to afford to invest in real estate on the side.  I’m at a crossroads as I’d like to expand by inventing anywhere from $70-$100K in the next 6-12 months and wanted to pick someone’s brain about a couple of strategies I’m debating.  Would appreciate sharing how people went about finding some mentors to bounce things off before executing.  Thank you

Alex Heidenreich · Answer

I hear a lot of talk about finding a "mentor." I'm curious what you feel that you would get from a mentor that you can't get from a community or forum like this? You mentioned someone to bounce ideas off of, that happens here all the time.

Will Gaston · Answer

@Khaled El Dorry I think the best way to get advice/mentorship is to first help the other person.

How can you add value to their lives?

What are you good at that they don't want to do or are unable to do?

The kind of people that you want to get advice from are busy and have a lot on their plate. Take a headache from their lives and they will almost certainly reciprocate.

Aj Parikh · Answer

@Khaled El Dorry I joined the Rat Race to Financial Independence Mastermind Calls hosted by Felipe Mejia and Diego Corzo and its good group of investors on that call and they bring a new guest every week where they go over deals, different strategies to invest and any question you have in general. Reach out to Felipe Mejia on Instagram or just search Rat Race to FI on instagram.

I also invested in a turnkey property this year and I feel that is the best way to be passive in your investing journey especially if you are looking for a 70-100k price range. Check out Martel Turnkey properties and see if something interests you. I also explored the Roofstock option and I absolutely love their portal. Its so easy to analyze deals, place an offer and create a "roof" to keep a consistent flow of deals coming. If you want to chat more about this, direct message me on BP. I am always ready to talk real estate with anyone.

Andrew Carlson · Answer

I totally lucked out. I told my dad about an apartment I was looking at. He said you should call up my buddy. Turns out he has lived down the road from me my whole life and has a thousand plus doors. He’s a good mentor.  Moral of the story, you may be closer than you think to someone with lots of experience you’re looking for. Just put it out into the world what you’re looking for.

Kai Van Leuven · Answer

@Khaled El Dorry

I look at someone who is taking action. Oddly right now I am mentoring a few friends. They are all working their a** off and I can appreciate that. When they call I try to push them in the right direction.

I would look for someone in your same space as a peer that you could build trust with and bounce ideas off of.

Mack Benson · Answer

I don't usually answer this in the open forums, groups aren't for everybody and I don't like making it appear that I am making a blind recommendation.  I'd be happy to share more via private message, feel free to reach out.

Khaled El Dorry · Answer

@Mack Benson hi Mack - thanks for the response. Curious what group did you join just out of curiosity?

Mack Benson · Answer

@Khaled El Dorry my first reaction when I saw your post was the type of mentorship program I joined last year but I'm not sure if that would serve you best. If you are looking for someone to bounce ideas off of I think networking with other investors is going to be your best bet. You can easily do that while retaining your current job at Amazon. There are many people here on BiggerPockets that are more than willing to help with advice and many even willing to jump on a call. Facebook and LinkedIn are also good places to make connections in the real estate world. The Facebook Groups can be very helpful.

Ross Yeager · Answer

@Khaled El Dorry I found my mentors through business partnerships.  I helped them with their business as I grew mine. For example, one of my mentors is my private money lender. The other is someone I’ve whole sales a few properties to.

Brad Jacobson · Answer

@Khaled El Dorry you’re not looking for a mentor, you’re looking for a new circle of influence! Get involved with your local REIAs and get volunteering! If you dedicate enough time to the REIAs you’ll have more available mentorship than your time will allow.

How have you gone about finding a mentor?

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