How did you find your mentor?

Question

Hi BP Network,

I've been on this site for awhile now, done a ton of reading, and am finally ready to jump in to the real estate world. One of the biggest pointers I keep seeing is to find and work with a mentor. I'm prepared and ready to offer any help or value in exchange for the opportunity to learn, but stuck on the initial process of finding one.

I'm curious how others found their mentors, and any advice or recommendations in finding one?

Enrique Huerta · Answer

Architecture and Construction Project Management can be very valuable to an investment firm in the areas of Design, Renovation, Construction Management, and possibly even Asset Management (assuming you're #s oriented).

It may behoove you to find investors that seem to be active but maybe their renovations can use some help (be gentle and thoughtful when telling someone their product can use some upgrades haha).

It would be a good idea to attend conferences, meet-ups, and other similar events to network with investors. As you're meeting people, listen closely and without expectation. If you hear someone say, I love X, Y, Z but could use some help with my design, construction, project management, etc. then you may have found someone you can ally with on projects. It's always good to just listen, learn, and when the right "mentor" or opportunity comes along, you'll know.

Also, don't be shy about learning new skill sets or focusing on adding value in other ways. If you love architecture and construction PM, then by all means offer that up as a way to add value. You can also learn skills in underwriting, deal sourcing, fund raising, financing, etc. The possibilities are endless so it's up to you to do the preliminary work of answering the following questions:

-What is my real estate goal?

-What asset type (multi, single-family, retail, industrial, etc.) do I want to invest in?

-How large of an investment can I make? Where would I like to make the investment?

-What function(s) do I want to oversee and how do I want to contribute?

With those basics answered, you can then go out into the world and when you see the opportunity, you will know.

Ryan Kwiecinski · Answer

@Enrique Huerta @Steven Wilson @Brock MogensenThank you all for the additional feedback and advice! These pointers are helpful to compile as I start to layout a plan. It's very much appreciated.

Steven Foster Wilson · Answer

@Enrique Huerta pretty much sums it all up. Your skills can be valuable to some that will be a good fit on being a mentor. I personally like to try to set up every month a meeting with someone I think I can learn from or who could be a potential mentor. I always come full of questions and ready to learn. Many are specific to the individual that I am meeting with but there are some questions that I have taken from John Maxwells book "Good Leaders Ask Great Questions."You may want to use them too:1. What is the greatest lesson you have learned? - By asking this question, I seek their wisdom.2. What are you learning now? - This question allows me to benefit from their passion.3. How has failure shaped your life? - This question gives insight into their attitude.4. Who do you know whom I should know? - This allows me to engage with their network.5. What have you read that I should read? - This question directs my personal growth.6. What have you done that I should do? - This helps me seek new experiences.7. How can I add value to you? - This shows my gratitude and desire to add value to them.These can be a great starting point for you. You never know if someone will say yes or not until you ask. Be bold and ask people to meet up.

Brock Mogensen · Answer

Most people that have the experience to be a mentor aren't going to give you much time for free.  Easiest way to get devoted time from someone is to pay for it.  That being said, if you're able to add value in some way that is actually beneficial to an experienced investor, I've seen that work.

I often get dm's with the language of I would like to add value to you in exchange for mentoring..ok what is the value you are going to add for me?..Something to think through as you begin reaching out to people.

Eliott Elias · Answer

You need to build yourself up to a point where you can add value, no one will take you on if you have not taken action yourself.

Ryan Kwiecinski · Answer

Thanks for the feedback Enrique! Those are great tips to keep in mind. I do want to be able to provide value for the opportunity to learn, but I'll definitely take the advice to research beforehand, and look for a problem to help solve (vs just asking).

Regarding skills, similar to my response to Steven above, I'd love to hear your input as well on this. I have an architecture license and work in construction project management. From your experience, would you say the skillsets developed from architecture and construction could lend itself well to add value? (Generally speaking of course)

Lastly, as for now, I do not have someone in mind just yet. I'm basically at square one and curious where I should start looking to even try to find a mentor. I do like your history of having mentors for various areas of growth, that is something I hadn't thought of but will keep in mind going forward.

Ryan Kwiecinski · Answer

Thanks Steven! I had local REI groups on the radar, but didn't think of the other types of folks involved in the industry as well that may have recommendations.

As for strengths, I have an architecture background (licensed in IL) and currently work in construction project management, so my current thinking is assisting with the skillsets gained through my career. Or, even simple admin type work. In your experience, do you think those skill areas would be beneficial? (Generally speaking of course, as any mentor may have their own specific needs.)

Enrique Huerta · Answer

At the risk of sounding like a broken record, you must find a way to add value to a "mentor." Also, don't be trapped in the old thought of thinking a "mentor" is this elusive, powerful, all-knowing individual who will change your life. That does not exist, but what does exist is a lot of like-minded, creative, thoughtful, and helpful people who are motivated to succeed and help others succeed. As others mentioned, take inventory of you. What are your skills, interests, and ways you can add value? I've had several mentors in my life and at different points in my life. I've had mentors for sales, for investing, for capital raising, for speaking, and for personal training, etc. It's all dependent upon what you can offer and what you need. Pay to play is OK if you want to hire a "mentor" or "coach" but you can also find local investors and offer to help them. In helping them with something they need, they will mentor you in the process of you helping them. Also, don't ask them what you can help them with. Research them, talk to them, and read between the lines. Gather the pain points and then offer a solution.

If you have someone in mind and don't know what steps to take, add some context to this thread and I'm happy to help you with next steps to move that relationship forward.

Steven Foster Wilson · Answer

Hi Ryan, welcome to BiggerPockets! This is the best place to start learning real estate. Find a mentor doing exactly what you want to do as their experience will surely help you out a lot. Attend your local REI networking groups and meetups. Connect with as many real estate investors as you can. You can also consult with lenders, brokers and ask them for suggestions on who might be a good real estate mentor most will be able to provide one. Before you go on about asking them for help, it's best that you think of different ways you can add value to that person. What are your strengths? For example are you experienced in social media marketing? Could you offer a mentor some tips? This way its not just a one way street. Best wishes on your real estate journey!

Allison Hathaway · Answer

Following. I'm also looking for a mentor.

How did you find your mentor?

Most Popular Reply