Mentors?

Question

Hi everyone, I'm interested in investing in pre-foreclosures but know that I don't have the education required.  I'm wondering where I could find a mentor to help guide me and show me how through real life experience.  I was thinking of shadowing a well seasoned investor on a few deals so that I could witness the event first hand.  I wouldn't be interested in gaining a profit, just the opportunity to learn.  I'm from the Houston area in TX.  Can anyone direct me to someone that could help?

Jonathan W. · Answer

Start at the bookstore.  There are numerous books that will give you all the information you need for $20.  Avoid expensive seminars and gurus.
I would just search on Amazon or Barnes and Noble for the top rated or best selling on the topic.

Tom Wood · Answer

Try your local REI clubs, but you have to ask yourself, what are you offering the mentor?  Will you pay them, will you bird dog and find deals for them?

You have to offer something.  Think of it from the mentors point of view.  It will take their time and effort to train you, you need to be giving something in return for that.

Vernon Stevenson · Answer

I want to get into foreclosures and tax liens

Kyle Ransom · Answer

If you want to get starting in pre-foreclosures, you might want to consider doing a business plan first. The business plan will outline how you do business from getting lead to buying properties and the exit strategy or if you are going to sell the property or hold to rent. You will also need to research your market start with you backyard to see what is going on. You will need to line up money to buy your properties so make sure you have access to money via a bank, mortgage company, partner or private lender. You should also consider joining an investment club to network and learn the business. That can be a big help. I hope this helps. Feel free to contact me if you have any questions.

Bryan . · Answer

Good points John, I hope Josh does an interview with you. You gave me great advice to read "Weekend Millionaire". Perfect for my situation, Thanks.

Account Closed · Answer

1. I have mentored people before and I am mentoring 1 person now.

2. I generally tell people to pick up some books from the bookstore. Specific titles based on what they want to accomplish.

3. Most people do not need mentoring to figure out how to do things. They need mentoring manage a sense of perspective. The technical details are in the books, on the web, or can be hired out (lawyer, etc).

4. No mentor can stop a person from sitting on the couch. No mentor can really stop FUD (Fear, Uncertainty and Doubt). It is internal. A mentor can tell you when you are out in the weeds or they can offer perspective. You still have to do the work, sign your name on the contract and put up the money.

Lots of people like buying advice or a mentor. Some do so for the wrong reasons. Signing up to a guru mentoring program is not going to remove all FUD.  You need to handle that personally.

John Corey

N/A N/A · Answer

I would love to find a mentor as well...  It seems hard to find people that will help the noobs  :groovy:   But for obvios reason.  This is a serious business for them, and someone tagging along can slow them down.  On the other had, if you offer to help out for free (think of it as paying for the education) then maybe they will help you out.

On the other hand, there are those individuals that are simply so nice, or enlightend that they will just help another for the good of it...  Awesome people, wish I could find some  :mrgreen:   I have heard great stories of success with a mentor.  It seems they really can help you achieve success in a  big way.  One things for sure, once I get going (assuming I do...)  I will remember to help out the others...  We all know, what goes around, comes around!

Mentors?

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