Efficient ways to find a mentor

Los Angeles County, California
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Efficient ways to find a mentor

Trevor Marvin
Member since 2022 · 14 posts · 8 votes

Hey all,

I'm a 22 year recent USC graduate working for a major consulting firm doing real estate valuations. While having job security is great, my overall dream is move past analysis paralysis and get into real estate investing. I've seemingly got just enough capital to invest in markets outside of SoCal, and I've been searching for deals in Kentucky, Tennessee, and Indiana specifically. I majored in real estate development and partnering that with my job, bigger pockets podcasts, and books, I have amassed a good amount of knowledge in regards to investing. That all being said, I feel as though I can only take myself so far, and I don't feel qualified enough yet to take the leap into investing--especially long distance. I've been wracking my brain on how to not only find a mentor to guide me, but how I can provide them value as well. I was hoping the BP community had some insight on how to find a mentor and ways you all have provided value to someone apart from capital. Long distance investing seems to have a lot more hurdles for newbies so any advice on these topics is greatly appreciated. Thanks everyone!

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Luther Wilson IIIPro Member
Real Estate Broker · Kansas City, MO · Member since 2017 · 538 posts · 293 votes
4y

Hey, @Trevor Marvin, have you considered going to your local REIA meeting? Those can be great ways to network and most are pretty fun too. Surely, they have real estate investors who meet on a regular basis in or near where you currently reside... That might be the plug there.

Bigger Pockets, of course, is a great resource as well. You may want to get clear on what market you want to invest in and what type of investments or asset class you want to take on. Once you get clear on that then you can start to put the word out and begin to attract what you're seeking. Then from there you'll have to figure out how to maneuver through the partnership, JV process.

Kudos to you for begging your journey.  It's a fun and rewarding one.  :)

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  • Marshall Leipprandt
    Real Estate Agent · Miramar Beach, FL · Member since 2016 · 285 posts · 245 votes
    4y

    @Trevor Marvin Congrats on graduation and getting involved in the real estate community! I've got a few questions before I can give a proper response:

    1) Do you plan to stay in LA for a while?

    2) What are your goals with RE investing? Do you plan to work in RE valuations or continuing in the corporate track for the long-term?

    3) Why invest out of state? Because of the cash-flow or just because it is what you can afford right now?

    I'm 29, but was in your shoes not too long ago. I've got several properties under my belt now and recently transitioned from my career in Finance in the Air Force to a full-time real estate investor and agent in SoCal and the FL Panhandle. Shoot me a DM or email if you'd like, I'd be happy to talk about my journey and experience and provide some advice if you think your path may take you a similar route as mine.

    0Reply
  • Trevor Marvin
    OP
    Member since 2022 · 14 posts · 8 votes
    4y
    Quote from @Marshall Leipprandt:

    @Trevor Marvin Congrats on graduation and getting involved in the real estate community! I've got a few questions before I can give a proper response:

    1) Do you plan to stay in LA for a while?

    2) What are your goals with RE investing? Do you plan to work in RE valuations or continuing in the corporate track for the long-term?

    3) Why invest out of state? Because of the cash-flow or just because it is what you can afford right now?

    I'm 29, but was in your shoes not too long ago. I've got several properties under my belt now and recently transitioned from my career in Finance in the Air Force to a full-time real estate investor and agent in SoCal and the FL Panhandle. Shoot me a DM or email if you'd like, I'd be happy to talk about my journey and experience and provide some advice if you think your path may take you a similar route as mine.

     I would love the help and advice, Marshall. Let me shoot you a DM with this information and we can connect. Short answer for others wondering:

    1. Yes, I plan to be here at least for 2 more years but so much is tentative

    2. My goals with RE are to work in the industry until I don't have to and can focus full time on investing--maybe even start a small fund one day after gaining continued experience in the industry and on my own time.

    3. I could only afford a property with an FHA loan in CA, and the prices are still so inflated that finding a property that cash flows even after I move out is seemingly impossible right now with my resources.




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  • Luther Wilson IIIPro Member
    Real Estate Broker · Kansas City, MO · Member since 2017 · 538 posts · 293 votes
    4y

    Hey, @Trevor Marvin, have you considered going to your local REIA meeting? Those can be great ways to network and most are pretty fun too. Surely, they have real estate investors who meet on a regular basis in or near where you currently reside... That might be the plug there.

    Bigger Pockets, of course, is a great resource as well. You may want to get clear on what market you want to invest in and what type of investments or asset class you want to take on. Once you get clear on that then you can start to put the word out and begin to attract what you're seeking. Then from there you'll have to figure out how to maneuver through the partnership, JV process.

    Kudos to you for begging your journey.  It's a fun and rewarding one.  :)

    1Reply
  • Rob Bergeron
    Real Estate Agent · Louisville, KY · Member since 2017 · 1k+ posts · 1k+ votes
    4y
    Quote from @Trevor Marvin:

    Hey all,

    I'm a 22 year recent USC graduate working for a major consulting firm doing real estate valuations. While having job security is great, my overall dream is move past analysis paralysis and get into real estate investing. I've seemingly got just enough capital to invest in markets outside of SoCal, and I've been searching for deals in Kentucky, Tennessee, and Indiana specifically. I majored in real estate development and partnering that with my job, bigger pockets podcasts, and books, I have amassed a good amount of knowledge in regards to investing. That all being said, I feel as though I can only take myself so far, and I don't feel qualified enough yet to take the leap into investing--especially long distance. I've been wracking my brain on how to not only find a mentor to guide me, but how I can provide them value as well. I was hoping the BP community had some insight on how to find a mentor and ways you all have provided value to someone apart from capital. Long distance investing seems to have a lot more hurdles for newbies so any advice on these topics is greatly appreciated. Thanks everyone!


    Happy to discuss the market here in Louisville. You can also join our local REIA (KREIA) we live stream basically everything.

    1Reply
  • Nicholas Coulter
    Real Estate Agent · Southern California · Member since 2019 · 681 posts · 281 votes
    4y

    @Trevor Marvin I am happy to answer any questions you may have! Shoot me a DM

    0Reply
  • Trevor Marvin
    OP
    Member since 2022 · 14 posts · 8 votes
    4y
    Quote from @Luther Wilson III:

    Hey, @Trevor Marvin, have you considered going to your local REIA meeting? Those can be great ways to network and most are pretty fun too. Surely, they have real estate investors who meet on a regular basis in or near where you currently reside... That might be the plug there.

    Bigger Pockets, of course, is a great resource as well. You may want to get clear on what market you want to invest in and what type of investments or asset class you want to take on. Once you get clear on that then you can start to put the word out and begin to attract what you're seeking. Then from there you'll have to figure out how to maneuver through the partnership, JV process.

    Kudos to you for begging your journey.  It's a fun and rewarding one.  :)

    I definitely need to do some research on my local REIA. This is a great idea. Thank you. I can definitely focus on honing into a market as well.

    1Reply
  • Daniel J Cano
    Property Manager · Orange County CA · Member since 2019 · 33 posts · 30 votes
    4y

    Here's how I found my Mentor.

    I started by contacting investors in my market, and understood what a good purchase for them is.

    I found that deal worked, and wholesaled it to the investor I got along with the most.

    I asked if I could tag along to learn more, with the condition being that I bring him more deals to flip. I've been working with him for 2 1/2 years, and currently manage all his flips. last year we did 33ish. 

    This does two things, provides value to your mentor, and it gets you a seat at the table. Rinse and repeat until you know his or her entire system. I may not be receiving the maximum capital out of this, but I am gaining all the experience and connections necessary so that lenders, agents, sellers and most importantly myself, see me as someone who is qualified. That is far more valuable than money in my stage. 

    Hope this helps you.

    0Reply
  • Trevor Marvin
    OP
    Member since 2022 · 14 posts · 8 votes
    4y
    Quote from @Daniel J Cano:

    Here's how I found my Mentor.

    I started by contacting investors in my market, and understood what a good purchase for them is.

    I found that deal worked, and wholesaled it to the investor I got along with the most.

    I asked if I could tag along to learn more, with the condition being that I bring him more deals to flip. I've been working with him for 2 1/2 years, and currently manage all his flips. last year we did 33ish. 

    This does two things, provides value to your mentor, and it gets you a seat at the table. Rinse and repeat until you know his or her entire system. I may not be receiving the maximum capital out of this, but I am gaining all the experience and connections necessary so that lenders, agents, sellers and most importantly myself, see me as someone who is qualified. That is far more valuable than money in my stage. 

    Hope this helps you.

     This is great advice. Thank you. What was your strategy for finding deals initially?

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