AT A STAND STILL....help

Wholesaling
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AT A STAND STILL....help

Natasha Hylton
Fontana, CA · Member since 2013 · 98 posts · 1 vote

I am new CA wholesaling and I have been researching for 3 weeks (reading, podcast, taking notes, etc) due lack of a REIA in So Cal. (los angeles too far as well as orange county) I would like to partner and do a profit sharing just to get my feet wet with another experienced wholesaler/investor because "hands on" is always the best experience. So recently i saw a sign near my freeway entrance that said "Real estate investor seeks student" and I called the number. The guy was telling me there a small group of investors, etc etc and seeking motivated people to join the team. I was highly interested till he said it'll cost $500. I said thank you , but ill pass
To make a long story short, people PLEASE be careful from those promising you the world without seeing "results"
The reason for my post is Iv'e been searching for a partner but having NO LUCK.
where else can i post besides craigslist to find a mentor if there's no REIA in your area?

I don't want to be like most people I've talked to before who said people jump into things and get into situations they can't get out of. I really am taking the time to dissect every angle of wholesaling although I will make mistakes because that's life but if you can learn from others mistakes, it cuts half the time right?

I even been dissecting how to appraise and estimate repairs to the "T" so I really want to partner with someone like minded as myself

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Bill Gulley
Investor, Entrepreneur, Educator · Springfield, MO · Member since 2009 · 21k+ posts · 12k+ votes
13y

Because, while they say they will do whatever, most seem to be from the "I want it now" generation with just "spoon feed me what I really need" and above all, make me rich without thinking too much.. :)

Everyone wants to take a shortcut, after all, the guy on TV said it was the easiest thing he ever did!

I admit, there really is easy money in RE, especially in notes, but it wasn't easy at all getting to the point that makes it so easy!

My remarks are not toward anyone here, but in general as to my impression of all the posts made by newbies, often it's due to not knowing what to ask or trying to drill through all the information.

I've mentioned to several old timers, I'm not replying as often to the newbie asking "where do I start" kinda questions because it's been written a thousand times on BP already, I know they know more about the internet than I do and how to use a search feature. So, I have to assume they'd rather ask than look anything up. :)

I remember being in the 5th grade asking my mom how to spell a word, she said go look it up! I didn't have Google then, I had to go through pages in the dictionary!

A good mentor isn't going to lead you through a deal by the hand, they will guide you and teach, partner, keeping you out of trouble.

Yes, there are many here who have made a business out of mentoring, especially some aspect of RE. It really plays on the "I want it now" bunch and I'm sure many get sucked in, for a small fee and/or promise of making money.

Nothing wrong with partnering up with a more knowledgable RE type, in that both have a vested interest to succeed. I also agree that people should find someone local to show them the ropes not some guy 4 states away regardless of what technology may provide, you can't go walk through a property together and smell the mold or feel the slope in a floor.

Sorry for the rant, but saying "I'm willing" and "showing you're willing" are two different things. :)

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  • Cory Rogers
    Upland, CA · Member since 2013 · 42 posts · 5 votes
    13y

    Natasha,

    I've seen those signs too. When I called the number I only got a recording. It seemed to be a gimmick so I never called back. I have experienced the same thing. I have done a lot of research, but still a little skeptical about getting my feet wet without someone who is experienced. However, I would not let that stop me. If I get a deal, I would never turn it down for a lack of experience. I would work in an attorney fee with the buyer.

    BP has a a lot of great information and great people that suggest finding a mentor. The experience I have gained so far is that no-one is willing to mentor anyone without a cash payment. So every single time I decide to ask someone for mentorship I expect to hear a cost. Then I ask myself, are they going to teach me anything that I don't already know? I know a lot from studying for the past two years, but it's like a puzzle that needs to be pieced together; hence, the need for a mentor (not saying I know everything- I expect to be learning for lifetime). I have also went to meetup.com and spoke to a gentleman about his rei group. He told me it was a $100.00 to get in. I don't think there is anything wrong with paying someone for their time; after all, everyone's time is valuable. The part that frightens me is whether it is some scam or not. I don't mean to sound negative. The truth is- should I ever reach my goals, I don't expect to give all my life's lessons away for free, but it may not necessarily be for money. I will make sure that someone is: 1st worth the time to teach because this sort of business breeds "get rich ideas" that are short lived with many people. Robert Kiyosaki I think said it best, "Find someone and offer to work for free."

    I work 60 hours a day, study for my real estate license, attend college full time and still have the determination to move forward. I decided to get my real estate license because it dies 2 things: one it gives access to the MLS, and it side steps all the BS that people are trying to sell you to become an investor. At least on a regular basis you see real estate agents, companies provide free training, and the best of all, real investors that I may get to work for thus learn from.

    I had to answer your post because I get disappointed when people look for mentors - coaches but at least in my mind there are none here willing to give that sort of one on one with genuine intention. BP is definitely a mentorship site in itself if you choose to read all the postings. Again I'm not being negative but realistic. If I'm wrong then step out of the "CALIFORNIA" woods, Mr. Philanthropist who truly wants to give back, and help Natasha and I.

    I am in the Upland area. If you ever want to partnership for the benefit of us both let me know. If not, try finding a real REIA group to attend and meet some experts there. I'm attending one on the 30th in Corona. Go to google.com and type in REIA group. GOOD LUCK.

    0Reply
  • Wayne Woodson
    Investor · Nashville, TN · Member since 2009 · 483 posts · 228 votes
    13y

    The only way to meet other ACTIVE investors "which is what your looking for" in your area is at your local REI and networking with other people who are doing deals. To be honest your probably better off doing real estate yourself because as you will find very few people will have the same drive as you do. A mentor is just someone you go to for support. It will be up to you to learn and build your business up.

    0Reply
  • Natasha Hylton
    OP
    Fontana, CA · Member since 2013 · 98 posts · 1 vote
    13y

    Cory Rogers_
    Thanks for providing great information and it can be a bit frustating but I am highly determine to get out of my financial situation and make a difference (easier said than done) I also see your in the Inland Empire which is great and would like to exchange contact PM if you don't mind. Congrats on getting your license btw

    0Reply
  • Natasha Hylton
    OP
    Fontana, CA · Member since 2013 · 98 posts · 1 vote
    13y

    Thanks Wayne! :)

    0Reply
  • Dean Letfus
    Specialist · Memphis, TN · Member since 2012 · 1k+ posts · 1k+ votes
    13y

    Don't look for a "mentor", look for an active buyer/wholesaler. Craigslist is a good start and keep asking till you find one.
    All you need is someone who buys multiple properties that you can offer to work for free for :-)

    0Reply
  • Kevin Yoo
    San Diego, CA · Member since 2008 · 301 posts · 108 votes
    13y

    Natasha and Cory,

    I read your posting and had to respond. I admire both of your for being so determined to succeed in real estate. But I really felt the need to respond because I have experienced the other end of the problem you are talking about with no real mentors with genuine intentions.

    I live in San Diego and have been actively investing in real estate for many years. I am no guru nor could be a great mentor. But I have many years of experience most of it filled with lessons learned from costly mistakes. I never gave up and currently have 3 active real estate companies. I am constantly looking for people to add to my team. I have hired four people to manage these companies. I have also pursued and asked several wholesalers and rehabbers in San Diego to join me. I offered computers, office space, and even salaries. I certainly was willing to give them all the knowledge and resources that I and my team had to help them succeed. But to no avail because many of these people would rather do it on their own. Perhaps, they turned me down because they really wanted to be their own bosses and I understand that.

    But what you are asking for where someone would take their time and maybe even money to mentor you only for your benefit is somewhat selfish on your part. I wanted those I approached to succeed and was willing to give them my time and money to do so, but I wanted them on my team which is selfish on my part. My generosity does have a catch. And there must be people that will mentor without asking for anything back. But I am sure they are rare indeed. I have never found such a person myself in my real estate world.

    0Reply
  • Jeff S.
    Lender · Los Angeles, CA · Member since 2009 · 1k+ posts · 2k+ votes
    13y
    Originally posted by Natasha Hylton:
    I am new CA wholesaling … due lack of a REIA in So Cal. (los angeles too far as well as orange county)

    A lack of real estate clubs in southern California? Are you kidding?

    Sorry if I’m not sympathetic, Natasha, but if you going to get into the wholesaling business, you’ll eventually have to get out of the house and drive to see properties. Get used to it.

    Here are three relatively nearby REI clubs to Fontana, that shouldn't take you too long to get to:

    Los Angeles Asian Real Estate Investors Meetup

    Coachella Valley Real Estate Investors Association Next meeting is May 14

    FIBI-Real Estate Study Group

    I attended Bill Tan's Asian REI club meeting, above, in Arcadia last week (you don't have to be Asian) and met investors from Palmdale, OC, and as far away as Kern County! There were probably 100 investors there ranging from green-behind-the-ears newbies to some pretty heavy hitters. This is the best way to meet the most concentrated set of opportunities you'll find.

    Bruce Norris, whose office is in your backyard in Riverside, is a well respected local prognosticator, educator, trainer, rehabber, and lender and might also be able to help you.

    If you want some inspiration, read this.

    Freeway traffic postings are not a reliable way to meet potential partners. Standing in the flow of deal traffic is. Good luck.

    Jeff

    3Reply
  • Cory Rogers
    Upland, CA · Member since 2013 · 42 posts · 5 votes
    13y

    Kevin,

    I wasn't indicating that someone who has succeeded just give away their hard earned lessons. What I was simply saying is that finding those people that would truly allow someone to learn from them is definitely a diamond in the rough. Of course the benefit would need to be in the mentors favor, but the newbi with true determination would be the one who is truly being blessed.
    Most people I have tried to meet online at sites like this usually never follow through with meeting me because, I assume, they really have no drive. It's like all the people I talk to about real estate that I work with, for example. They are interested until it takes work then there attitude changes. So, by no means do I expect free mentorship.

    Jeff, great idiom- I really enjoyed that. I am all about attending a rei group. Thanks for the information.

    0Reply
  • Tim G.
    Rental Property Investor · San Diego, CA · Member since 2011 · 1k+ posts · 1k+ votes
    13y

    If you aren't willing to drive from Fontana to a club in Oc or LA I don't think you want it that bad.

    Some poor guy or girl in the sticks is wishing they had a club an hour away to go to and you have several. You are missing out, get off the couch. You can do it.

    0Reply
  • Kevin Yoo
    San Diego, CA · Member since 2008 · 301 posts · 108 votes
    13y

    Cory,

    You are right. True genuine altruism even if it is a bit tainted with selfishness is rare. But I was just trying to point out that as much as you mourn the fact that people who selflessly give away time and knowledge are far and few between, I mourn the fact that when I generously try to give my time, knowledge, and money away to newbies, for reasons I do not understand they turn me away.

    As for driving to meet people that were newbies, I have met three people in San Diego on BP online. I then set up time to meet with them in person. One of them works now for me full time and doing a great job. The other two have joint ventured with me and invested successfully in real estate projects with me.

    0Reply
  • Natasha Hylton
    OP
    Fontana, CA · Member since 2013 · 98 posts · 1 vote
    13y

    @jeff and @tim
    thank you for taking the time to add other REI in my area. I do have drive and motivation, I was just seeking a "local" REI group in my area. Now I did seem to find one in early May located in Ontario so I'm looking forward to attend with my business cards. In the meantime, I will continue to advance my learning on wholesaling.

    @kevin
    I also hope to meet some like minded people on here to build a team and your a walking testimony for doing so. I do see your point on the "selfish" backend but that's why I'm willing to profit share so I don't waste there valuable time. I know every second in this business counts, and my intentions will be a win-win situation for both of us.

    0Reply
  • Bill Gulley
    Investor, Entrepreneur, Educator · Springfield, MO · Member since 2009 · 21k+ posts · 12k+ votes
    13y

    Interesting thoughts as to motivation. I don't know what Kevin does but it sounds like a pretty good offer to get started.

    Mentoring is an old angle that's been employed by Realtors, probably before they were required to have a license. The old ones take the new ones under thier wing, split deals the old ones wouldn't get anyway dealing with those related to or known to the newbie. The mentor profits and hopefully teaches with the newbie having an opportunity to learn. It can be a win-win.

    I'd say stay clear of anyone charging up front for any mentor program. Anyone can learn the real basics in RE, conventionally, as in text books, as guru books don't teach a foundation. Your first mentor should be in partnership or being paid to work while learning. I suggest doing the paid programs after your initial training, if you choose to, with money made from your RE activities. :)

    1Reply
  • Kevin Yoo
    San Diego, CA · Member since 2008 · 301 posts · 108 votes
    13y

    I cannot agree with Bill anymore. About half of the posts in BP is someone introducing themselves as a Newbie. Many of them are asking for help to get started. Sometimes they even ask if they should pay for and take specific courses. I did that because I go suckered into Guru fever. But much of what I learned I could not apply as the world just does not work like those Saturday hotel conference rooms.

    So, my recommendations to all the newbies is don't ever pay several hundred dollars or certainly several thousand dollars to attend guru seminars. Do attend their free ones or attend the ones sponsored by REI clubs. Read as much as you can. But just as quickly and as with as much determination find someone to partner up with. I am not even sure you should be looking for a mentor. It would be best that it is someone that is more experienced than you are, but it does not matter because you have to learn on the job.

    And I call it a partnership not a mentorship so that you understand you have to give something as well as get something. But what you will see is that if the partnership is a good one that it will turn into a mentorship. Spend as much time honing your skills at picking a good partner as you do learning to pick a good deal.

    There are a lot of excellent investors on this site that do it solo. But they are for the most part small or it took them a long time to get big. Success comes from being able to work well with others. And if you join a team or build a team, your success should be easier and greater. You could also be hurt by others and many on this site have suffered from bad partnerships. But you should expect and go at it again and find a better partner.

    Bill, what I do with newbies that I meet is I offer them partnerships by joining my team and then give them all the resources they need to succeed. It is amazing to me how often I get turned down.

    0Reply
  • Bill Gulley
    Investor, Entrepreneur, Educator · Springfield, MO · Member since 2009 · 21k+ posts · 12k+ votes
    13y

    Because, while they say they will do whatever, most seem to be from the "I want it now" generation with just "spoon feed me what I really need" and above all, make me rich without thinking too much.. :)

    Everyone wants to take a shortcut, after all, the guy on TV said it was the easiest thing he ever did!

    I admit, there really is easy money in RE, especially in notes, but it wasn't easy at all getting to the point that makes it so easy!

    My remarks are not toward anyone here, but in general as to my impression of all the posts made by newbies, often it's due to not knowing what to ask or trying to drill through all the information.

    I've mentioned to several old timers, I'm not replying as often to the newbie asking "where do I start" kinda questions because it's been written a thousand times on BP already, I know they know more about the internet than I do and how to use a search feature. So, I have to assume they'd rather ask than look anything up. :)

    I remember being in the 5th grade asking my mom how to spell a word, she said go look it up! I didn't have Google then, I had to go through pages in the dictionary!

    A good mentor isn't going to lead you through a deal by the hand, they will guide you and teach, partner, keeping you out of trouble.

    Yes, there are many here who have made a business out of mentoring, especially some aspect of RE. It really plays on the "I want it now" bunch and I'm sure many get sucked in, for a small fee and/or promise of making money.

    Nothing wrong with partnering up with a more knowledgable RE type, in that both have a vested interest to succeed. I also agree that people should find someone local to show them the ropes not some guy 4 states away regardless of what technology may provide, you can't go walk through a property together and smell the mold or feel the slope in a floor.

    Sorry for the rant, but saying "I'm willing" and "showing you're willing" are two different things. :)

    4Reply
  • Natasha Hylton
    OP
    Fontana, CA · Member since 2013 · 98 posts · 1 vote
    13y

    @Bill
    I respect your words and input and understand that some newbies
    Won't even look up anything and want to easy way out.
    Well I updated my posts for seeking a partner
    And said "I have resources to find deals" just so they know
    I'm bringing something with doing the legwork. We live in a world
    Where loyalty is rare but there out there. I have to remember
    That a fine partner isn't going to come "easy" but will come
    In the right time!

    0Reply
  • Bill Gulley
    Investor, Entrepreneur, Educator · Springfield, MO · Member since 2009 · 21k+ posts · 12k+ votes
    13y

    Natasha Hylton, yes, and it sounds like you were taking my comments persoanlly, not meant that was as I mentioned, you need to understand where the oldguys, not just me, or more experienced people will be comming from.

    Perhaps I should do a blog with a longer explanation and a lighter tone. Mentors who partner with you will be different than those who charge a fee to let you in. Thoses who claim to partner may not really know what they are doing either, people make the same mistakes for decades, you need to know that before you tie up with them.

    Why not get some leads, not all the details, and introduce yourself to some loacal types and see if you can spark interest on a deal. Just do it. Best of luck... :)

    0Reply
  • Natasha Hylton
    OP
    Fontana, CA · Member since 2013 · 98 posts · 1 vote
    13y

    @Bill
    I didnt take it personal or take it out of content. You were just being honest. I respect it and whether I have a partner or not right now, i'm not wasting time and is going to continue seeking meetings, reading etc.

    I just so happen to be at the right place right now today.. A man who i met at the store gave me his "investment" card that said cash for gold and he also explain that he BUY HOUSES..I said i'm a new wholesaler and would love to do business. Wow God is great and like i said things will come at the right time.

    0Reply
  • Bill Gulley
    Investor, Entrepreneur, Educator · Springfield, MO · Member since 2009 · 21k+ posts · 12k+ votes
    13y

    That's what I call walk'n and talk'n! That works! :)

    0Reply
  • Tim G.
    Rental Property Investor · San Diego, CA · Member since 2011 · 1k+ posts · 1k+ votes
    13y

    I once heard you have to want to succeed more than breathing to make it.

    You can't really choose where a deal is, if you focus solely on Fontana, Ontario meeting your missing it.

    Best of luck.

    0Reply
  • Natasha Hylton
    OP
    Fontana, CA · Member since 2013 · 98 posts · 1 vote
    13y

    @Bill lol....that's what i call "free marketing" lol

    @Tim
    iv'e heard of that saying before too. I know the potential of doing deals all over. There's even those closing deals out of state. I did read that its sometimes best to start where your familiar at. And your neighborhood would be a great place to start because you know the area so well and the beauty in the real estate business is there's many outlets of where to begin :)

    0Reply
  • Bill Gulley
    Investor, Entrepreneur, Educator · Springfield, MO · Member since 2009 · 21k+ posts · 12k+ votes
    13y
    Originally posted by Natasha Hylton:
    @Bill lol....that's what i call "free marketing" lol :)

    Was that to the suggestion of showing up with some deals? :)

    0Reply
  • Natasha Hylton
    OP
    Fontana, CA · Member since 2013 · 98 posts · 1 vote
    13y

    @bill
    It's in the works. :)

    0Reply
  • Natasha Hylton
    OP
    Fontana, CA · Member since 2013 · 98 posts · 1 vote
    13y

    I guess you say "Time Waits for No One" so I am taking all of your advice and starting to take action. Today, I took initiative process of building a strong team and setting up a few meeting interviews for an investor friendly realtor to join. I'm looking forward to this journey! :)

    0Reply
  • Deborah Saddler
    Real Estate Investor · Cleveland, OH · Member since 2013 · 173 posts · 18 votes
    13y

    Kevin Yoo, thanks great advice, I am checking post and forums and gathering information, asking question, putting a plan together, ready and eager to start.

    0Reply
  • Account Closed
    Orlando, FL · Member since 2013 · 165 posts · 62 votes
    13y

    Natasha and anyone else that is looking for a mentor

    When the student is ready the teacher will appear. This is a 1000 year old Zen proverb. It is true. When the student is ready. Many students never get ready.

    When I was young I had many mentors. One of them was a man named Henry. The story in this article is thirty five years old. This is not all that Henry taught me. Henry taught me how to sell. Why did he do this? He did it because he liked me. Why did he like me? He liked me because I was ready. I was ready. Henry appeared. Henry and thousand of other mentors want to teach you. People that know love to teach. They don't like to teach to people that don't want to learn. If Henry told me to "blow em out" and I didn't blow em out, how long is Henry going to continue to teach me.

    Jesus told the lepers to go bath in the River Jordan. How many of them went and bathed in the river? I have met young people that ask me how can I learn to sell. I tell them to go read Og Mandino's book,"The Greatest Salesman In The World". The next time I see them I ask ,"Have you read "Greatest Saleman" yet? No. Why would I have any further advice for that student? Thy are not ready.

    When I was in my twenties, I joined Toastmasters. That is a club to teach people to be better speakers and presenters. There I met a man named Arnold. He was an excellent speaker. He was about thirty years older than me. He was a Dale Carnegie instructor. He taught me a mountain of education about how to be a better speaker. Why? Because I was ready.

    When I started buying houses in the eighties, I met an old Realtor named Bob. Bob had been buying houses since the early sixties. He knew a lot of things about buying and tennants. He happily shared his knowledge with me. I was ready. He could tell I was ready. He could tell because when he told me to try something, I would try it.

    Mentors are looking for you if you are ready. If you can't find a mentor, start studying. A mentor will appear when you are ready.

    It is not about altruism. People that know like to teach but not to people that are not ready to learn. When I was fifteen, I worked on a farm loading watermelons. My job was to walk along next to a truck and throw the watermelons to a man that was on top of the truck. He would gently place the watermelons in a stack on the truck. As I got tired, I might not throw the watermelons as high as I should. This would cause the man on the top of the truck to have to reach down for the watermelon. The man on top of the truck is not going to reach down. If he does, it might make him fall or it will tire him very quickly. He will just let that watermelon fall back on my head. It only takes about two watermelons on your head to learn to throw the melons high enough. The student is the thrower on the ground. The teacher is the man on top of the truck. Don't expect the teacher to expend any effort to teach you. Throw the melons high enough.

    How do you do that? Let the teacher know that you want to learn. When the teacher says, "Read this book.", read it

    When you are ready, a teacher will appear.

    2Reply
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