Is creative real estate investing just GURU pixie dust or what?

[Account Closed]

Hello all,

I'm going to be spending a tidy sum on inbound internet marketing starting late next week.  My goal is to simply monetize as much of what comes through the pipeline as possible. So, I cannot be a one trick wholesaling pony.

To that end, my wife and I have  been getting our ducks in a row.

• RE license. Check.
• Buyers list. Check.
• Target market. Check.

That said, I have been finding it exceedingly difficult to:

1. Find a mentor and give them money for help with my "creative deals."  Basically, I'd like to say "Hey John, I have a deal. If it's worth your time to help me get this done, you can have half of the money, I'll gain knowledge. We both win."   
2. Find a real estate lawyer in FL who works with investors. 

Finding a mentor and giving them money is hard.  Finding a lawyer is hard.  What gives?  Everyone pounds the table saying "find a mentor and hire a lawyer" but why is it this difficult? 

I would really appreciate feedback. Let me just quickly highlight that the strategy I've been using to find mentors is the strategy I've been using to find buyers; meet ups.  

I've built a nice sized "buyers" list through meet ups but am skeptical these folks are even "buyers" as my success rate finding a creative real estate investing mentor who stands to benefit from the nearly $10k monthly I'll spend on marketing is proving to be an exercise in futility.  

As a YouTuber myself, I see its flooded with GURUS promoting $500 - $5000 products on how to invest in real estate "creatively."  It makes absolutely no sense for me to spend $5,000 on some course where the producer will pound the table telling me to hire a lawyer after I have paid him $5,000 - whereas, I could just pay a lawyer $5,000 to draw up a bunch of contracts. 

Thanks for listening and I welcome your thoughts! 

[Liz Brumer-Smith]

Hey @Account Closed! 

Good for you for getting your ducks in a row. In regards to your original question about a quality mentor and a quality attorney...

Finding a good attorney: What type of attorney are you looking for? You don't really want a "jack of all trades" but someone who can advise you in your specific area of investing. I have another attorney I go to for all of my foreclosure or creative financing needs. I have an attorney I use in FL for my contract law, he reviews all contracts, writes agreements for me, and can help with closing but he cannot or chooses not to advise my on syndications, or foreclosure law as it's not his area of expertise. When that happens, he refers to me someone who is specialized in that area. I would start by figuring out what you need or want from an attorney, and possibly go to your local REI to get recommendations from others on who they use for what.

There are great attorneys in FL - so keep looking.

In regards to the "gurus" or mentors: You need to have a firm understanding of what you're getting with their mentorship or program. Some "gurus" offer education only - with no guidance or mentorship which sounds like this is less of what you desire. Correct me if I'm wrong, but it seems you're looking for an actual mentor; someone you can go to with specific questions relating to creative deals, structuring of offers, etc. There are mentors out there that offer this - but it will come at a cost. You're either willing to pay it or not. That's okay if you don't see the value, but that doesn't mean there aren't good mentors out there for you.

I think part of the issue is what you're expecting to get out of the mentorship or program. Most gurus or mentors aren't going to work on a "you get half basis" because if you don't get the deal closed, they just advised and assisted you for free. Typically, people who offer educational services have extensive experience and knowledge in their field, and are in the position to get paid for their advice wether it be through a program or hourly. Taking a risk on someone they don't know being the sole negotiator and liaison between a payday for them or not is risky. 

Again, I suggest going to your local REIA and getting acquainted with the other investors in the area. Many times the REIA will have recommended mentors that their members have worked with, or you can chat with others to find out who they've learned from. While you can find people who will teach and work with you on a 50/50 deal it's likely not going to be the ones advertising in youtube or social media.

Hope this helps! Keep on going - you seem motivated and enthusiastic so I'm sure you'll do well!