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Updated almost 9 years ago,

Account Closed
  • Investor
  • LOUISVILLE, Ky
137
Votes |
299
Posts

Everyone looking for a mentor. Newbies - pay attention

Account Closed
  • Investor
  • LOUISVILLE, Ky
Posted

I come on to BP every day.  I've got a large amount of keywords set up.

One of them is "mentor".  You can imagine, I see posts every day of new people coming on looking for a mentor.

Here's the thing.  I get it.  I understand that you want a mentor.  

There are two ways to find a mentor.  
1) Pay for mentorship

2) Don't pay for mentorship.

It is this second choice that I'm certain nearly 100% of new investors are looking for.

I'm telling you that you are doing it wrong.  You will not get a mentor in this manner.  It will not happen (and if it does, it's most likely you've already had a personal relationship with that individual).

...

Real estate scares the crap out of me.  There's fear.  I'm human.  Just the way it is.

It's the same way for everyone.  What are we afraid of?  Loss.  The Unknown.  This list could be larger, but these are the two main ones.

I can tell you if you are looking for someone to take you by the hand, tell you what to learn and tell you what actions to take, it probably won't happen.  You can forget it.   You want a mom, not a mentor.

Get on here every day.  Learn.  Don't stop learning.  Learn enough that you can take action and get a deal under contract.  UNTIL you do that, don't even think about getting a mentor.  It probably won't happen.

I'm probably a wet blanket in this.  This post will probably not be popular.  

But, and listen closely, action is key.  Learn.  Then, take action.  Once you take action, the world will notice.

Network. Get to know people. EVERYONE. There are so many people involved in this business, even if only peripherally. Fill your contact list with everyone that you think you could ever do business. Go to REIA meetings. Start your own group (I'm doing this. Though I have done a flip and purchased a rental house, I consider myself green as they come. But, there's only one way to solve it. Education and ACTION).

....

Stop watching TV.  So many people use the excuse that they have no time for (fill-in-the-blank).  Really?  How much TV do you watch every night?  You're wasting your life.  How much did that episode of Walking Dead that you watched 2 years ago change your life?  How much did the Wheel of Fortune episode 16 years ago change your life?

Make a goal.  Put your first house under contract, in whatever manner is appropriate for the investing style you've chosen.  If you have a hard time finding a direction, come here and learn.  There are a myriad of free guides to help you along.

Remember this also:  real estate investing is not a hobby.  This is a total career change.  If you wanted to start working on furnaces, you wouldn't advertise that you work on furnaces without (at the VERY least) taking a course on how to fix furnaces.  You would probably go to school for a couple of years to become an HVAC technician.  Why would you view this to be different?


So, don't be the person that goes out and puts a property under contract without knowing what you are doing.  In that case, you truly are your own worst enemy.  Learn.  Take action.

Change your mindset.  Raise your standards.  Work harder than anyone you know.  Don't tell anyone what you are doing.  It's none of their business.  (Most people will try to dissuade you anyway.  Forget about them).  There is no reason for you not to succeed.  It is all up to you.  Decide.

....

Now, back to the original point.  STOP looking for a mentor.  Learn.  Educate yourself.  Network.   Start an accountability group.  Take action.  Make it happen.

Once you actually start doing this business for real, then think about a mentor.

Keep rockin'.

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