Available Mentor(s) in the local Denver area?

Question

Hey Everyone,

Somewhat new to Bigger Pockets (2nd Post) here and I have a few questions about real estate mentors.

I've been interested in learning all there is to learn about investing and am a newer Realtor in the local Denver area. I have a small database that I'm currently focused on expanding and do what I can to keep up with the market but I'm interested in educating myself more on the investment side of things.

I do all I can to learn about real estate investing on my own time including listening to the podcast, scouring the forums, reading all of the recommended real estate & business books, connecting/networking with people of importance and I just found ICOR here in Denver.

That being said, I'd like to "get my hands dirty" from a reliable, experienced local investor who is successful and has the time to help out someone new.

I just thought I'd reach out to the forums to see if anyone had any recommendations or referrals on contacting potential people in the community or if anyone could point me in the right direction to finding a mentor. I see these "Real Estate Investor Apprentice, Make $120K per year" signs drawn up all throughout my neighborhood (Capitol Hill) and have written a few of the numbers down but I get the feeling that these handmade signs are too good to be true so I decided to start here at BiggerPockets first!

Oh, I've also been browsing Craigslist only to find similar posts about "Earning $10K In YOUR 1st Month!"

Thanks,

Rick

Anson Young · Answer

Rick, I dont think craigslist is the way to go, nor the bandit signs.

Networking locally is absolutely the way to go, ICOR is a good start, I also run the BP Meetup group : https://www.biggerpockets.com/forums/521/topics/179668-denver-march-23rd-meetup

Out of many of the people looking for a mentor in Denver, I dont know many who have found one they didnt have to pay (aka, a guru).   Even as someone who is flipping houses full time, I just dont have the time to take anyone on, and not sure how other investors do this (and still maintain a full time real estate business) without just going the guru route.  Most investors dont want to train their competition, especially in a tight buying market.  They think if there arent many deals now, I'm training one more person to go out and compete for the same deals.  I get it, but its still pretty narrow minded.

Stop by our networking meetup, I think being an agent you have a huge % of the picture of what is going on in Denver.  Start by looking up rehabbed properties, checking tax records to see what they bought the project for (I still do this all the dang time).  Keep listening to the podcasts, keep learning here on the forums, etc.  Check out J Scott's biggerpockets books, check out "Millionaire real estate investor" and "flip" by Gary keller.  (if you havnt already!!!).

Joshua Dorkin · Answer

Hey @Lauren Barkley - Yeah . . . someone is destroying the Bandits that are littering Denver.  I'm not sad to see it.

Lauren Barkley · Answer

I'll seen lots of those signs with the phone number cut out and a sticker placed on top stating 'SCAM'. I'm with @Joshua Dorkin on this one...those signs just clutter up neighborhoods, whether they are legal or not.

Kyle Doney · Answer

I've called one of those signs before to see what it was all about. It was a guy offering coaching and claiming to have done a bunch of deals. If you do so many deals, then why are you wasting your time putting signs all over for assistants, instead of getting more deals?? Waste of time calling them.

RIck Montanari · Answer

Thanks for all of the input!

I've marked down March 23rd on my calendar in hopes of attending the meet up group and meeting some of you. I agree that networking is important and I've been focusing on that since I became a Realtor albeit not on the investing side of RE. The past 11 months have been spent developing a core SOI in the residential broker associate arena of RE however now that I've taken an interest in investing I'm looking to build a database focused on that.

@Anson Young Your podcasts are some of my favorites and have pushed me to pursue learning more about investing. I agree with you about craigslist and bandit signs, they both seem a bit lower quality. On competition and time management, I don't expect to find an "apprentice" or intership-like position where a ton of time is spent on teaching someone from the ground up, although I wouldn't turn that opportunity down! I think having some guidance is a better term for the situation. Someone who is local and available for coffee or lunch once or twice a month. An experienced investor whom I could bounce ideas off of or trade emails a few times a week with is more of what I'm looking for. The forums are great for that but being able to sit and have a quick bite or coffee face to face with someone is more valuable.

Taking someone on could even mean automating your business and could provide a bit more time for one to focus on the more important priorities. As far as not wanting to increase competition, I get it, nobody wants that especially with the low inventory in the current market. But if that person is willing to put in the time to learn and become educated and involve themselves either way wouldn't you want the opportunity to have them on your side? Maybe down the road as a partner or someone who could pass along a referral. Just brainstorming a bit here!

Thanks for the book recco's I've already knocked out MREI/MREA/Flip & Shift along with @Brandon Turner 's stuff and I'm still looking to find some extra time to get into J. Scott's work.

@Eli Schmidt Definitely, I'm not sure what your current schedule looks like but let's find some time to get together. Email me directly at Rick@Dwell-Denver.com.

@Travis Sperr Thanks! I'll definitely be looking into more resources throughout the area.

@Bill S. I've been a licensed Realtor for the last year which has provided good insight into the current Denver market. Although I'm still new and learning every day I've come a long way since last February and plan on developing my knowledge and talents in the future. I work with a medium sized "boutique" company - Dwell Denver Real Estate - currently but have no strong connections to accessible investors. Time can be a tough thing but I am available for few hours during the day most days throughout the week. I'm currently interested specifically in flipping but want to develop and experience all aspects of REI. I touched upon what I'm looking for when I say mentor in my response to Anson. The note/tax lien idea is something I just discovered and will look into more, thanks for the suggestion!

Bill S. · Answer

@RIck Montanari it helps in looking for mentor if you have something to offer (time, talent or both) and have a specific niche that you are hoping to learn about. RE is so big that it's hard know what people want when asking for a mentor. I agree with @Anson Young , that wholesalers and flippers are feeling the pinch now. I don't think it's so much about training their competition as it is about having the space to do anything but keep their head above water. Not a lot of time to train a newbie when you have to work every lead and put your a game on if you hope to land a deal. Landlords might consider free/cheap skilled labor since the barrier to entry is increasing each day. Agents might take you on their team to train you. I don't know about note investing, or tax lien people but I'm sure if you find a few to connect with you would be able to find someone to learn from.

Like @Travis Sperr said, it's about networking. The forums are a place to start that.

Travis Sperr · Answer

@RIck Montanari  All about networking, look around for a while and check out the local scene before jumping in with any mentor or program. There are some decent local programs available in Denver depending on what it is you are looking for. ICOR is a great resource but not the only one in the area.

Available Mentor(s) in the local Denver area?

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