What to expect from a mentor

[Tyler Haskell]

So as a new investor I managed to pester a local investor to the point that he has agreed to meet with me over coffee to discuss REI. I called this individual because I noticed his bandit signs all over the Sacramento area. He was very friendly and said that even though he was busy, he is always receptive to speaking with another investor.

I get this the feeling that this guy has a rather large operation going based on this information: He keeps saying "we" and I am pretty sure it is a syndication of investors. He also stated that they buy houses to fix and flip with cash, and purchase in all of Northern California and most of the bay area. He also stated that he was in the process of selling two other businesses he owns to fix and flip full time, indicating that he is doing well. My question is this:

When I meet this guy, what can I reasonably expect? Ideally I am looking for a mentor who doesnt mind me shadowing him, and maybe would take me on as an investor, bird dogger, or even a future partner. But really why would this guy do that? He obviously doesn't need additional financing, he obviously knows what he is doing and is doing well, and I could not really teach him anything about REI. I really am the one seeking knowledge and experience through him.

I am thinking of asking him general questions about the Sacramento area to help me with my buying criteria, and maybe some questions about how his direct marketing works. I also am thinking of asking him for mentorship, and in exchange I would offer to do some manual labor on some flips (I am a painter), and look for additional deals for his group in exchange for insight. Perhaps I can convince him to involve me in a future deal with him as well.

Let me know what you guys think!

[David Hutson]

Tyler,

It's good to see others have stepped up to meet with you.  I have had a reminder set to have coffee but with our state burning I haven't been able to get off work during the day to meet with you.  I still have your name and number on a sticky note that I'm carrying around.  Send me a private message and let's meet after work later this week or this weekend.

What the other person you are going to meet will probably want, which is the same thing I would want, is to come prepared.  Have some questions and thoughts ready to discuss.  What do you think you want to do, what interests you, what skills do you have, what can you contribute and if it's someone who you want to work with, why should they take time to help you.  That should be a good start.  Don't show up without a clue of the Sacramento market or info on what you want to do or think you would be good at.

I'm a buy and hold investor so I can provide information on that, specifically for Sacramento, generally for other locations.  Flipping, not so much.

If you still want to meet pick a few days that work for you that we can meet at 6pm between downtown and W. Sac or possibly on Saturday, if the fires die down, and I'll meet you for an hour.  I'll answer all the questions I can for a diet soda.

(normally I would send this as a PM and not a post but I'm hoping others will step up and pay it forward.  I'm challenging all of you experienced readers to help others who are learning the business.  Reply to one person per week or one per month and meet with them for an hour.  I have talked with or met up with everyone who has asked me for help, though not too many, it's the fact that we are helping others.  I learned all this on my own and having a mentor would have been helpful)