How to be a Mentor

[Chris C.]

I have been investing for about 5 years and educating myself for about 10.  Recently a young associate I work with has approached me about helping him get started in real estate.  I love to teach and often learn more then I teach so I am very open to assisting this young man.  He has a lot of initiative and a back ground in building so I feel that I will not be wasting my time and if things work out would consider him working with/for me.

My question is how do I structure this relationship.  The best way to learn is by doing I believe but I do not want to take advantage of him while also realizing I am paying him in knowledge.  I don't intend him to do any manual labor just run comps, meet contractors, etc.  The normal daily business we do in flipping, rehabbing, and rentals.  Any insight will be appreciated.

Thanks