Pay a Guru or Find Local Mentor- tips to finding local

[Todd Shampoe]

I looked at several paid mentor programs that ranged from 14K to 40K. Every time I attended a seminar or webinar I had to hide my checkbook because they got me so pumped up I was ready to sign up.
I ended up finding several local mentors that are actively flipping houses in my area and this is how I did it.

Mentor 1- I talked shop with a guy at work and he said he did real estate on the side. I thought ok, another flipper want to be, but it turns out he flipps 6-7 houses a year part time. He agreed to take all my calls, go to lunch and show me the houses he is currently working on. The information on color selection, staging and fixtures was priceless. He said always use Sherwin Williams Divine White or variations of the same color for the walls.

Mentor 2- I called a marketing sign for 1800-sell-now and put in my zip code and they directed me to the local guy. I took him lunch and talked shop with him. The next week he took me to a house he had just bought and walked me through it and told me all he was going to do to fix in it. Then we went to another house he was looking to buy and we walked through it and he told what he thougt it was worth and what to look for. I found a 9 acre wholsale tax delinquent property that we are meeting with the owner on this Saturday. He is helping me get it under contract and we will split the profits.

Mentor 3- Called a for sale sign on a 4 plex and talked to the realtor who also finds homes for investors. She now sends me deals to look at.

I joined the local REI club and met a lot of people there. Local meetings are very important to attend.

I have met several wholesalers here on BP that have been very helpful.

It is far better to find someone local that will mentor you and you can get help with on deals. I have no problem splitting deals I find with my mentors, by doing it this way you are being paid to learn, and 50% of something is better than 100% of nothing.