Torn Between My Mentor and Taking My Own Leap

[Brody Boston]

I am stuck between two incredible opportunities and I am struggling to decide which option will provide me with the greatest long-term investment. I am a Senior in college, graduating with a Business degree in May. My roommate and I have always been extremely driven and determined to be self-employed. Starting in August we began searching for a future that would not only provide financial incentive but freedom and room for growth. After reading dozens of books, doing research, and listening to some of the incredible podcasts on BP we have been clearly directed toward real estate. 

We would like to establish a partnership and create a business that flips mobile homes to build enough capital to sell these homes on contract or move into larger real estate investments (though we believe there is plenty to be made in mobile homes alone). This plan would begin to be executed immediately after we graduate in May, with a ton of learning yet to do until then. Next semester we have lined an incredible local investor to work with him on his buy and hold properties, many of which are mobile homes. He has over 150 properties and still has managed to meet with us on multiple occasions, eager to share what he knows. 

This mentor relationship seems to be extremely mutual, we are willing to do whatever for him in exchange for his wisdom. He too seems to love that two kids are so interested in his livelihood. He does not charge us, in fact, he has offered to help us through our first couple deals because he truly wants us to succeed. We are planning to spend as much time as possible with him next semester and had plans to move to Richmond, VA this summer to start on our own.

This is where the decision has recently been so hard to make. The college town we currently live in is far less populated (not nearly as exciting) but has plenty of opportunity for lower capital investments, which is important for us to start. We have the option to stay where we are this summer and continue to learn from our mentor. His guidance would be helpful in assuring immediate success and that it seems like a no-brainer. However, I believe that we could find another mentor in Richmond and it may provoke us to become more independent in our own pursuit of our future if we were to leave. With moving to Richmond we would find full-time employment in sales or real estate and try to work our own investments on the side. If we were to stay, our current mentor would potentially be willing to fund our first couple deals to get us on our feet and we would not need to find a job.

I think that either way, we will be successful, but I do think that there is probably a better option. I am not sure if that is to be independent and learn from our own failures or to learn from our mentor for the summer months to gain that valuable information that we may not find elsewhere.

Any input would be greatly appreciated!