New investor in CT looking for a mentor

[Meghan Reed]

I'm looking to dive deeper into the wonderful world of REI. My husband and I have one SFR which we've been renting out for slightly under a year. It was actually our starter house so it wasn't purchased with investing in mind and therefore isn't performing as well as one would want as an investor.

I'm at the stage where I'm ready to start branching out and doing more.  I'm interesting in wholesaling, rehabbing, and holding multifamily rentals. 

I'd love to sync up with a mentor in the CT/MA area but I'm curious how that typically works.  Does one normally pay the mentor and if so is it typically a flat fee for a period of time or number of deals or would it normally be a monthly fee?  Or does the mentor put the student to work in some fashion and that's how they benefit from the relationship?

On one hand I'm happy to pay to gain knowledge and experience but I also would be a bit more skeptical of the relationship if I'm paying.  How do I know that Joe Shmo investor isn't just trying to take my money and run without showing me the ropes?  Or perhaps he doesn't even know the ropes?  How would you all do your homework on an investor?

[Michael Noto]

@Meghan Reed Welcome to BP.  It is always good to see others from CT on the forums.

What I would say is to do your homework on all of the REI disciplines you are interested in learning more about and see which one or ones you want to focus on. Biggerpockets is a great free resource between the forums, blogs, articles, and podcasts to really educate yourself, build a foundation, and decide which strategy fits you best.

Once you have decided which path you want to go down, start reaching out to local people who are where you want to be. There are plenty of active investors on here from Connecticut including myself that would be glad to help you once you have identified what it is you want to accomplish through REI.

Also, I do not know of anyone around here that charges money for their time to mentor someone.