Why Enlisting in a “Mentor Program” is Fundamentally Wrong

[Don Konipol]

Why signing up for a “mentorship” is usually fundamentally wrong? 

Because, 98% of the time the student does not take into consideration if the tactic/technique/strategy being taught is a “fit” for the investors time available; interests; knowledge; experiences; abilities; likes; and ethics.

Let’s assume that the strategy being taught really does work - to the extent that many people “applying” themselves can achieve financial success.  And let’s assume that the requirements are going door to door and convincing “motivated” homeowners to sign a contract with you selling their property below “market” rate.  Well, 90% of the population don’t want to be salespeople, don’t “like” the selling process, and wouldn’t consider a job in sales.  Why then do they pay $35,000 to obtain what’s basically a sales position?  Because of (1) some fantasy that they are now real estate investors”? (2) some fantasy that they’re now “their own boss”.  (3) the belief that they “have” to do this to “get into” real estate? 

I was approached by a young man recently who was contemplating doing exactly this. I told him if this interested him he would be better off obtaining a license and joining a brokerage.  He told me he didn’t want to be a salesman.  What do he think wholesaling is? 

I can see where, IF a particular strategy being taught is a ‘fit” it could be advantageous. But my personal experience tells me that this usually won’t be found in a national program run by the real estate marketing boys out of Las Vegas or Provo, Utah.  It more likely may be found with a local investor/teacher doing “hands on” mentoring himself and not through an organization run like a production line. 

What do you think?