4 Newbie Tips to Score a Rockstar Mentor

Perhaps the most powerful way to gain an education in any field, including real estate, is through a mentor.

When I first got started in real estate, I remember being lost and looking for someone to help me gain traction on all the thoughts running through my head. SFH or multi-family? How do I find good tenants? How do I know what a good deal is? What if a pipe bursts in the middle of the night?

There were so many questions I had for my potential mentor – if only I could just find one, then I could get started. 

I found myself reaching out to complete strangers who I knew invested in real estate asking if they would help me get started as a young investor. Inevitably, this always ended one of two ways; (1) They said "I don't have time right now" or (2) I got no response at all.

At first, I felt that all of these real estate investors were being so selfish – I was only asking for a little help to get started. I just needed a couple of hours of their time. 

But as I kept reading and educating myself I started to understand that everyone wants a rockstar mentor, and to score one I was going to need to differentiate myself from the pack. I needed a way to show these potential mentors that I was worth their time and effort. 

If you’re serious about scoring a rockstar mentor, here are four tips that worked for me that you can use to help differentiate you from your peers:

Tip #1: Offer up your free labor

Offering up free labor has had a 100% success rate for me – I simply reach out to the potential mentor and ask, “I want to pick your brain – is there anything I can do to help you or your business while we talk some real estate?”

Yes, this mean you are going to provide free labor, but this is going to show your potential mentor a couple of things: (1) you’re serious about learning, (2) you’re willing to roll up your sleeves and do some work, and (3) you see the value that they can bring to you.

And if you’re serious about real estate – isn’t a couple of hours of free labor worth the answers to all those burning questions and building a relationship with a potential mentor? If it isn’t, you might want to reevaluate how serious you are about investing in real estate at this time. 

Now, as a seasoned investor, this willingness to work is the easiest way for me to filter through potential mentees. 

Tip #2: Educate yourself

Take advantage of all the information already out there on real estate investing, thanks to BiggerPockets and many of the authors who have taken time to share their stories. 

A mentor's purpose is not to teach you everything. Often times they have spent years of their lives learning and refining their practice through books, podcasts, and real life examples.

So before you go asking for a mentor, what books have you read lately on real estate investing? What about podcasts? Have you looked for answers to your questions on the BP forums or blogs?

This is an easy way to stand out to a potential mentor. It shows that you have dedicated time to educating yourself prior to reaching out to them. It also shows that you're serious about real estate investing and willing to put effort into the mentor/mentee relationship.

Tip #3: Understand your strategy 

After you have educated yourself on strategies within real estate, you need to pick the best strategy that aligns with your purpose for investing. 

Do you want to flip houses, or do you want rental properties? How many tenants do you want to deal with? Do you want to actively manage your properties or pay a property management company? In what location do you want to invest?

One of the most difficult things to do is to pick a strategy, but it is how you make investing decisions, and it should at least be considered before reaching out to a mentor.

For instance, I have a full time job, so I focus on rental properties and stay away from flipping homes. Could I make more money flipping houses? Yes, but that strategy wouldn't work for my situation as I have a job to go to every day.

Only you can pick best strategy for yourself, so take some time to understand the options and then pick the best fit for you and your family. 

Tip #4: Ask specific questions

Be sure to ask specific questions that they can answer with a quick example or a couple of words of advice.

One of the most common mistakes I see with potential mentees is that they ask broad questions. Best case scenario, a broad question will elicit a broad answer. Worst case scenario (and most likely), a broad question receives no response at all.

Be intentional and specific with your question – it will result in a higher response rate and you’ll get more out of the answers.

Below are a couple of examples of how broad questions can be altered to be more specific:

Keep in mind, the better the question, the better the answer. Asking good questions is also a great way to build rapport with the potential mentor, as it shows you have put some thought into the discussion.

Now that I have shared my top four tried-and-true tips for scoring a rockstar mentor, give them a shot and let me know how it goes in the comments below! Whether you're still looking for a rockstar mentor or are a rockstar mentor yourself, we would love to hear additional tips that have worked for you, or any questions you have about my tips.