How can I find a good Real Estate Mentor?

Question

Lea, Home Seller in Norfolk, VA

Hi There!My name is lea and I have been doing research for on Real Estate Investing for about 6 months now, and interests so far i so far i have obtained 2 properties and this are going good but i feel like I am could use more advice and not seem so paranoid all the time.

As a novice REI, am interested in investing in Rent to Own, Foreclosers, Lease to Option, Tax lien and wholesaling. Although I mention these because i feel these are the easiest routes to goo when starting out in REI.

I need real hands on help, I am not looking for any scams with selling products or classes, I want to learn and earn!!! I realized that Investing in yourself would be more fruitful in the long run and I desire living that kind of life and building a career in Real Estate.

Please can anyone recommendations? Or Know someone in the Virginia area that is seeking a Real Estate Investor Trainee or is building up a team? I would also be willing to help a Real Estate Agent in their clerical duties as an agent assistant anything that can help me achieve success. I just really want to learn real estate the best way possible, and I am 100% committed to this. I am also ok with splitting the profits 50-50 if that would be the case. Thanks So much for your time and I hope to hear from you soon! :)

Brandon L. · Answer

@Lea Cole how many investor meetups have you been to? If the answer is 0 I would suggest that be the first place to start.

For now it may be a good idea to narrow your scope of operations down to 1 thing and master it. So if you want to get a home under a contract with a lease option, then put a rent to own buyer in it, stick to that one area until you master it, then look to the next.

Also, everyone can be a mentor. Observe everyone and take things from them that you can implement in your business.

Hope that helps :)

Account Closed · Answer

Find a local REI club ant attend some meetings. Define goals and network. What kind of real hands-on help are you looking for?

Stephen Franco · Answer

I do real estate education and mentoring, along with my business partner. He and I have been investors for over 10 years, and he was a former "major brand" guru travelling teacher.

Kate Bell · Answer

Hi Lea,

Although I am not located near VA, I do have contacts in the area and I would also like to offer you help along the way as well. I'm not a Guru by any stretch of the word, but I would like to see you succeed and I have been in Real Estate not only as a Fix and Flipper, but, wholesaling, private lending and was a Designated Mortgage Broker for over two decades. Real Estate is not only my career, but it is my passion as well as my hobby. Do be careful as you have seen, there are numerous scammers out there. While it is important to have some manuals, the best way to learn is hands on and asking questions. I would like to echo what Brandon stated in his answer to you. You have to master the art of one avenue before going down several roads at the same time. It gets too confusing that way. With that said, if there is anything that I can do to help you, please feel free to contact me. In the mean time, I wish you all the success in your journey.

Cindy Carriger · Answer

Networking with other investors, here and especially in person in a RE group is invaluable. I am impressed that you are already finding and acquiring houses...but, not sure in what capacity....were those wholesale deals, or buy/hold, im not sure, but either way that is great and shows you are willing to ACT on your knowledge. If only more folks would do that, there'd be a lot more true investors out there. Not sure i have much more to say - but read what you can on any area so that you avoid costly errors, especially where staying within the 'LAW' would go. Some people have innocently found themselves in hot water by not knowing the law - that being said...don't get paralyzed. Use common sense AND if it has to do with lending money (especially 'POOLING FUNDS'), borrowing money (dont say it's going to be 'owner occupied' when you aren't going to live there!), dealing with tenants, make sure you investigate any legalities so you don't mis-step. And when it comes to partnering...keep your money close at hand, trust but verify, and look into the persons reputation before getting in TOO DEEP with someone! Best wishes.

Lea Cole · Answer

@Nicole Graves

Thanks so much! I actually decided to do that, there is a meet up saturday 9/8/2016 at 9AM!

Nicole Graves · Answer

@Lea Cole Congrats on getting started in REI. I agree with Michael S.- if you haven't joined a local REIA club you may want to start there. It's a great opportunity to network, meet more seasoned investors, and gain in-depth knowledge. Advice would be to not only look for a mentor, but seek to also see what you can bring. I think that's the great thing about Bigger Pockets-everyone, new or experienced, has the opportunity to input and share. Possibly see if an experienced investor at the REIA would be interested in coaching you through your next deal. Think about bringing them a deal where they can make money and ask them to coach you through it-maybe a 50/50 or 25/75, etc deal. Just a thought. Wish you well.

Lea Cole · Answer

Hello @Brandon L

Thank you for your reply, but unfortunately you have miss read my post. On my post I said I have an"INTEREST" in investing in those specific fields, not to do them all at once. I have chosen to target properties for Rent to Own/Rent and I will be sticking to that for a few. Throughout that sentence, I am just explaining to everyone that those fields are acceptable to me, because those are the easy routs to start in real estate. I do not want to reach out to an investor that specialize in "Traditional Investing" instead of "Creative Investing" , which is not something I want to do right now.

My main target is to specialize in long-term/short-term RENTAL properties, and that is my #1 priority.

Thanks so much for your time! :)

How can I find a good Real Estate Mentor?

How can I find a good Real Estate Mentor?

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