How To Land A Great Real Estate Mentor

There really is no reason for anyone in the United States to be poor.  If you are reading this, you have a phone or laptop, or some other device and you have an internet connection.  That means you also have access to Facebook, Bigger Pockets, YouTube, Google, etc...  You can learn almost anything online, meet almost anyone, and do an almost endless amount of networking and marketing for FREE!  So why aren't you rich yet?

I was at a real estate investor networking event last week. I met a guy I will call Larry the Loser.  He isn't actually a loser, but he is a guy stuck on blaming others, The only thing that could be worse, is blaming your past.  If you are blaming others, or worse, blaming your past, you are guaranteeing yourself a lifetime of being mediocre, possibly poor, and lowering your quality of life.  

I asked Larry, "So what do you do, and are you a real estate investor"?  I eagerly awaited his response. He replied, "I don't know why I am here. I hate to network and everyone I have met in my past has burned me."  My first reaction was to pretend I had to go to the bathroom and make an escape, but my curiosity wanted to find out more.  I asked, "Have you been burned at real estate investing?"  He replied, "Well, not exactly. I have never done a deal. It's just that none of the wholesalers have any good properties, and no one is willing to loan me money."  Our conversation continued for a few more minutes, and then I was fortunately saved by a friend.

Larry is not alone!  Every real estate investor is out looking for good deals, and you can't rely on wholesalers to do your work for you.  I find that most wholesalers, are not even really wholesalers.  They are just new investors who are using the title "wholesaler", as it is better than saying, "Hi, I am unemployed!".  As far as finding people to loan you money, I have seen newer investors attract millions in days it they can find deals.  You either bring money, experience, or a deal to the table.  If you don't have anything to offer, get used to being pushed to the side.

Raising Your Street Cred

Being new to the world of real estate investing is not a bad thing. You are more than likely young, or highly motivated., or older and realizing you need to make a lot of money by retirement!  You don't need to be an expert flipper, like on HGTV, to get respect and command the attention of other real estate investors.  You don't need to have a long history of doing deals to raise a lot of capital or borrow money.  

Real estate investors wear a lot of hats, from searching for homes, marketing, networking, negotiating deals, raising capital, managing rehab, figuring out design, and keeping the deal flowing from beginning to end.  It's not easy, as we all have parts of the deal that we love, and parts that we would love to avoid.

Help Investors Avoid What They Don't Like

If you want to get in good with a successful real estate investor, or find a great mentor doing what you would love to do, simply ask the right question.  Simply ask them, "Hi, what part of real estate investing do you like the least?"  You will probably hear something like, "I have never enjoyed making follow-up calls to cold leads."  or something like, "I like working my flips, but I waste so much time going back and forth to Home Depot."  If you offer to be their go to person for some of those tasks they really want to avoid, you can quickly gain access to their time.  Most investors are more than willing to teach, mentor, or coach, they just don't have a lot of time and they don't want to feel used by someone who just wants to take their knowledge and run with it. 

Gaining Access To A Valuable Network

When you help an investor do what they don't like to do, you become valuable to the investor.  They look forward to your help in finding leads, or marketing, or doing some of their Home Depot runs.  You also gain access to their time, the ability to ask questions, and learn who they use for different ares of the business.  I have seen simple helpers, become flippers, and great real estate investors, just because they asked the right questions, and focused on helping others.

Don't Be Larry The Loser

Let's take a look back at Larry.  He is stuck in the past and stuck on blaming others for why he can't find deals or money.  Remember my first question to Larry, "So what do you do, and are you a real estate investor?"  Imagine if he had said, "I'm new and learning, but I am also willing to help others. What part of investing do you like the least?" Now I would have been put in a position of thinking and answering the question.  Simply knowing how to respond to others, and being willing to help, can completely change your real estate investor journey.