New Investor - Looking for mentorship in BRRRRs

[Jimmy Kang]

Hi BiggerPockets fam,

I'm Jimmy Kang and I'm just getting started out as a real estate investor. A bit about me. I read Short Term Rentals Long Term Wealth a year ago and it sparked my interest in real estate. As I started learning more about other strategies BRRRR really started to stand out as it seems to force you to learn the whole real estate stack and allows you to stretch your capital and grow quicker if done correctly. I'm currently reading through David Greene's BRRRR book and am committed to this strategy as my starting point in real estate. My reasoning here is that although BRRRRs are riskier and harder than turnkey STRs or LTRs that the pros of being able to stretch my capital into multiple properties is worth going through those learnings and getting those bruises up front. I think its the game worth learning. I want to mitigate the risk by using cash and starting in a market with sub $200k median home prices so that I can get a few reps in and build my competence and confidence. I am also looking for a mentor as I take my first steps. That brings me to my ask.

I'm looking for in a mentor who

- Has experience in BRRRRs

- Willing to hop on calls a few times a month 

- Willing to answer rookie questions 

Where I am right now

- Educating myself in BRRRRs through books, forums, BP videos

- Practicing analyzing deals 

- Picking a BRRRR market

- I have enough cash saved to buy in a sub 200k market

Thanks for the help. Very excited to be on this journey with you all and looking forward to the day when I can pay the help forward. 

Best,

Jimmy  

[Shiloh Lundahl]

@Jimmy Kang I am going to deflate your excitement bubble a little bit. A mentor isn’t something you really ask for. A mentor is a relationship that develops organically over time. It doesn’t have rules or expectations. It is just a relationship. What it sounds like you want is a mentor who acts more like a coach. Well unfortunately, I think there are more unicorns than there are mentors who act like coaches.

Now, if you want a coach then there is an expectation in the interactions. A good coach will help you get better results than you can get on your own. If you are serious about getting started, then I would say search for a good coach and look for mentors on the way.