Mentor

[Kelly Lesesne]

Hello,

I am getting started in investing and looking for a mentor in the Philadelphia area.

What is the best way to find a good mentor?

[Ed L.]

I think the Mentor thing is overplayed. Honestly If someone came to me locally and asked that I mentor them and share everything I know about Real Estate I'd be hesitant for fear of training my competition. Ironically I'd share anything and everything imaginable with someone on BP.. Go figure.

Read, read, read, and read some more on BP, all the answers are here and free..

Spend 6 months analyzing the new listings, pended listings, and sold listings on your local MLS to help get a idea of what is selling and not selling in your local area.

Break your city into grids and just start riding down every single road to help familiarize yourself with the different neighborhoods.

When you think you've found a deal post the basics of said deal to BP and let the community help you evaluate it. Most likely they will point out potential pit falls and shortcomings.

If you post photos of the property and dimensions they can even help you estimate what a contractor should be charging you to repair the property. i.e... $4,000 to replace the central hvac, or $2,000 to paint the interior, etc.. Not rock solid figures, but basic parameters to help guide/mentor you through the process.

Best of luck!