Investor · Member since 2021 · 131 posts · 100 votes
BP Family,
When I have read stories posted on BP regarding individuals who have successfully navigated and closed multifamily deals, I have noticed a recurring commonality: Success favors those who have an experienced partner/mentor in the multifamily sector. Clearly, this makes sense.
My father used to refer to this as "finding a Godfather" - Someone who is willing to take you under their wing and help guide you along the way towards greater success. Someone who will be "in your corner" when you need them.
So for those who found their Real Estate "Godfather/Godmother", how did your paths cross ?
Dave
P.S. Feel free to DM me as well - I would appreciate any insight/knowledge that you are willing offer as I try to find my own "Godfather/Godmother".
Rental Property Investor · Orlando, FL · Member since 2014 · 540 posts · 230 votes
5y
David I am still on the hunt for my partner(s) so just wanted to let you know you are not alone out there. my plan of attack is going to be attending meetups, seminars, conferences etc and see who best aligns with my strategy and vice versa. @David C.
Rental Property Investor · Redondo Beach, CA · Member since 2017 · 411 posts · 477 votes
4y
@David C. I hear these stories as well. Many pay for the expensive, multifamily mentor courses, but there are those lucky folks who team up with seasoned pros with 1000's of doors.
You want to be able to offer as much value as possible to that person. Do a major self analysis, and find out what your super power is and make sure it compliments their skill set. Maybe you can bring them deals, maybe you can raise substantial amounts of money, you could be a wiz underwriter who can make offers on deals quickly. They might need to promote their business on social media, but hate social media.
Come from that place of how you can legitimately help them.
@David C. I hear these stories as well. Many pay for the expensive, multifamily mentor courses, but there are those lucky folks who team up with seasoned pros with 1000's of doors.
That is very good advice. I love the "super power" concept. Yes, I have a skill set that I have and have offered to those whom I come across. However I find that those individuals/groups that I have encountered have a "team already in place". It's kind of like trying to gain admittance to an exclusive club. That is where I think these paid coaches/gurus really cash in because they profit on the opportunity to gain access to others in a "pay to play" business concept. These are typically BIG $$$ to gain entry, which I am hesitant to do (I'd rather save $40k and put that capital towards my next purchase).
That being said, I absolutely understand that it would be folly to just bring someone aboard without having an established relationship of trust and a good working knowledge on a personal level. However, entering that inner sanctum is quite difficult.