Finding a mentor?

[Patrick E.]

I was wondering how an 18 year old could find a mentor for REI? I live in Lake Elsinore, CA. I'm still in high school but want to learn everything I can. I'm more interested in the buy and hold strategy and want to purchase my first house in late 2010, after I graduate community college.

[Eric NA]

Patrick,

I'm just starting myself, but here is how I have managed to find a couple contacts.

I was browsing through craiglist and found a home that I could tell had been fixed up for investment purposes and was being sold. I learned this by looking at my local tax assessor website and seeing the home had been purchased just 6 months ago and was now back on the market at a reasonably higher price. I contacted the seller and told them I was just getting into real estate and was interested in meeting with them to ask them questions.

The investor and I went to his investment property and he was able to tell me a few things and let me ask questions. We then went to lunch (I paid obviously) and I was able to ask him even more questions. In the process, I picked up some of his contacts, other potential mentors, contractors, & other services.

Another contact I picked up by going to my bank where I have a car loan. I was talking with the loan officer about getting a loan for real estate investing and she told me about one of her clients who's been in the industry for 30 years. I gave her my contact information (it's good to have business cards even if you don't have a business) and she passed it on to the investor. He subsequently told her to give me his contact info. I called him and we got something set up.

Those are just a couple ways you can come up with potential mentors. Keep in mind you just need to make one or two key contacts and then all of the sudden, they each know 2 or 3 other people and your network starts to grow.

Good luck!