Finding a mentor when starting out

[Patrick Bunn]

As someone just starting in real estate investing, I have been reading a great deal and listenting to podcasts to gain as much knowledge as possible. Even so, I recognize a need to find a mentor to help fill in the gaps and give practical advice to compliment the information I’m taking in. But I don’t want to be that guy that’s like; “Hey, you, successful person, I choose YOU to be my mentor. I have nothing to offer but I expect you to train me for free! Aren’t you so lucky I’ve selected you for this glorious task?” As such, I fell like I need to be able to bring something to the table. With that in mind, here’s my question; would being able to provide a potential mentor with private money at a discount rate be a viable option as a value to add to their business?

[Jonathan Greene]

You are on the right track for sure, knowing that it has to be a win-win for a mentor to spend the time to help you. Could private money at a discount rate, yes. For sure. But it depends on what kind of investor you are working with and how reliable that funding is. The thing is, when you are building a pitch for a mentor, it really should be a skill or asset that you have total control of (contracting, calling, driving for dollars, bird dog) because if your gift to the relationships is entirely based on someone else, it's not that much of a win and you won't remain tied to the mentorship in their mind.