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Updated 7 months ago,
Rejected by local mentor
I recently bought a new home and rent my old home for cash flow of $400. Buying my second home with traditional lending was my first step into real estate investing. Throughout my research over the past 6 months I've learned about creative financing which intrigues me and is something I would need to learn about moving forward to scale my portfolio.
I recently got in touch with a local coach/mentor in seller financing in my area. We spoke for a little while, but I figured I was being vetted. Coaching was not brought up in the first call, so I made a 2nd call to clarify pricing for his mentoring services. He said, unfortunately he had no more spots available as they were recently taken up the week prior. It kind of felt like I was being "let down" easily. Meaning I was not a good candidate for his student profile.
Here is my background info that I gave him.
1) I have 2 homes, I live in one, cash flow on the other.
2) I have little reserves, <10K but building up quickly. Should be above 10K by summer.
3) I have a >$100,000 in equity that I am very hesitant to use. But only for the right situation.
I couldn't ask him why he rejected me. As he technically didn't, but I kind of read in-between the lines.
My question is: Where can I be better for a coach to see the benefit in training me. Was I too close to the mentor and presented competition? Did I not have enough reserves? Or a combination of other factors I'm not mentioning.
But in all transparency, I'm already leaning very heavily on just learning by myself via online, YouTube, Bigger Pockets, books, and Carleton Sheets No Money Down course.
Thx in advance for any input. Brutal, constructive honesty appreciated, lol.