Looking for a mentor

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Looking for a mentor

Max Dicce
Gainesville, FL · Member since 2015 · 3 posts · 2 votes
Hello, my name is Max Dicce, I'm 27 and I'm currently a commercial diver. I just graduated commercial diving academy. I made this life change because I come from sales, mainly A sales rep for Pepsi (7 years). Did some door to door sales for a crappy company with the hopes of making something great of it, load of crap they were... I'm currently working for a company as a "diver", honestly haven't done much diving as they promised. It's more of just pipeline surveying and mapping. Pretty much I stand there with a pole and the other person shots a laser of where the pipe is. I make a whole $14/hr and don't even get 40hrs/week. I'm suppose to start a second diving job in the Clearwater fl around where they actually do diving. A little personal history, I'm divorced with a beautiful daughter whom lives with her mother in SC. I have an amazing supportive girlfriend who is currently in dental school. I have about $70k worth of debt from school loans to credit cards and car loan.... So that's a little bit about me. I'm looking to get into real estate because of the residual income aspect and of course owning properties. I do not come from any source of money and I know it will take some time to generate money. I would like for someone to take me under their wing and give me some guidance. I've always been interested in the whole idea of real estate and the benefits of it, making money. I've read some articles and taken some notes and will continue to do so. I want to continue my diving career because of course I spent a great deal of money going to school for it and I enjoy it but I don't want to just have this one source of income. I want to create multiple sources of income. As I've read before, "it takes 7 sources of income to be a millionaire". Or "if you're not making money while you're sleeping, you're not working hard enough." So how do I start? I have many concerns. I'm in a slump right now with just graduating and starting work, little work at that. I believe I have taken the smallest step by taking a great interest in this type of business. I just need to learn as much as possible. Im willing to listen to any advice and take notes. I'm very ambition but just have a lack of funds right now. If it's as simple as sitting with someone and having coffee to listen and begin to understand how they started out. Or even on here I'm open to any information. I would be very grateful for someone to help me out. I have many visions and future plans. I just need to get on the right path to success. Thanks for taking the time to read this. It means a lot to me for you to invest your time into reading this.
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  • Sergey TkachevPro Member
    Investor, Agent, CPA · West Sacramento, CA · Member since 2009 · 706 posts · 262 votes
    10y

    Hi Max, welcome to BP!  

    First of all, you've taken a big step by engaging in the forums, so congratulations on that.  Having said that, this is only a small first step on a long journey.  Here are some thought that will hopefully help give you some direction:

    1) Learn as much as possible about real estate.  Just make sure you don't end up just learning forever and never taking action.

    2) Listen to the BP Podcast.  With over 150 podcasts, it's a wealth of information on many different subjects of RE.  I would suggest to start at the beginning and make your way up through all of them.  https://www.biggerpockets.com/renewsblog/category/...

    As a testimony, about a year ago I made this single suggestion to a friend of mine who was interested in real estate, he did not even know about BP.  About 9 months later he purchased a 4plex and is househacking right now.  He not only listened and learned, but also acted on what he learned.

    3) Read the forums and be involved.  There is a ton to learn.  The Ultimate Beginner's Guide is a great start. https://www.biggerpockets.com/real-estate-investing

    4) Read good books.  If you have not read Rich Dad, Poor Dad by Robert Kiyosaki, I'd start there.  It's a good way to change the way you think about wealth and money.  If you don't have time to read, many good books have audio versions. 

    5) Find local people who are active in the business and network.  I'm not familiar with Gainsville much but I do know that the Tampa Bay has quite a few BPers and they have meetings as well.

    6) You're not going to find someone who will just take you under their wing without first seeing that you are serious about RE.  And that means that you first must prove to yourself that you are serious.  All of the points above will help you in getting there.  

    What many new potential investors don't understand is that there are very many people like them (have interest in RE) but only a very small percentage actually take action.  The experienced investors know this and so most are very reluctant in taking someone "under their wing" without really knowing whether that person is actually going to stick through it.

    So the best way to go, is learn as much as you can.  Meet experienced people and learn from them.  Offer your help or services for free in order to learn.  Remember that short term money is never the goal (even though it seems that way especially when you are starting out).  Relationships and character will get you much farther.  Once more experienced people see that you are serious and will to do anything to be successful, they will be more willing to help you succeed.  

    But the biggest key is NEVER GIVE UP.  It may be a couple years before you buy your first property, but don't let that get you down.  

    Florida is a good market to be in.  I'm out in California but come out to Clearwater/Tampa Bay at least once a year.  I have family there who also have rentals, and the opportunities are definitely there.  

    But once again, first steps I'd suggest are listed above, and I especially recommend the podcasts.

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  • Allen C.
    Creative Problem Solver · Jersey City, NJ · Member since 2015 · 17 posts · 5 votes
    10y

    Thanks for the re-assurance @Sergey Tkachev! I am competing in a such hot market, I need to remind myself this when ever it seems as if I can never find a deal!

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  • Matthew Vitlin
    Real Estate Agent · Austin, TX · Member since 2015 · 110 posts · 29 votes
    10y

    @Max Dicce, congratulations on taking some first steps.  Starting is always hardest, so not that you have actually started the process it will progressively get easier.

    I would focus on accumulating information like @Sergey Tkachev has recommended, and also start thinking about how you will finance any deals you come across.  You have a significant amount of debt so make sure you know what your credit score is like and see about reducing your debt and improving your credit.  It's something you can do while you are doing your research and it will put you in a better spot to start investing, as well as give you more options when you are looking into how to finance deals.

    Let me/us know if there is anything else we can help you with.

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  • Sergey TkachevPro Member
    Investor, Agent, CPA · West Sacramento, CA · Member since 2009 · 706 posts · 262 votes
    10y
    Originally posted by @Allen C.:

    Definitely, that's what I've noticed about every successful investor - they never give up but continue to hustle through both the easy and the hard times.  Consistency is key. :)

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