All Forum Posts by: Billy Daniel

Hey Billy!

Great question! First off, let me share some general advice on finding a multifamily mentorship program. I'd obviously encourage you to speak with members who are currently in any mentorship program before you join, as a rule of thumb. 

But for starters, here's what my brothers and I looked for in a program.

- Direct Access: We knew we wanted to have direct access to the mentor whose name was on the face of the group. This was essential for us, because we wanted to have the opportunity to get to know this established mentor and potentially work with him.

- Ability to Network with other students: We not only wanted a mentor, we wanted a tribe. The benefits of having access to other students is that you can learn from people who are only a few steps ahead of you. You can also find potential partners, and you can find friends walking on the same path as you. The benefits to a mentorship network are endless! And there ARE mentorship programs out there that don't provide you to other students, so make sure to ask!

- Ability to Partner on Deals With the Mentor: This one sort of builds off the first one, but when my brothers and I started out in the multifamily space, we didn't have a track record or credibility. As a result, brokers didn't really take us seriously. So we knew any mentorship program we were going to join needed to allow us the opportunity to partner with a mentor whose track record and credibility we could leverage. There are no GUARANTEES that he will partner with us, but we do have the opportunity to assuming we find a deal that meets his criteria. It's the NUMBER ONE thing that has propelled us to the place we're at today (partnered on 1,000+ units and are now lead operators on a 100+ unit deal). We're also only in our 20's, and I don't say this to brag, just to express to you that it IS possible to actually do big deals in the multifamily space if you're willing to work and if you invest in the right network/mentorship. https://thinkmultifamily.com/d...

Hope this helps! And if you're wondering, the mentorship program we're part of is Think Multifamily with Mark and Tamiel Kenney. They've got an event coming up in Texas in April called the Deal Analysis Workshop where you can learn how to underwrite multifamily deals. You'll also get the chance to meet other multifamily investors, learn about the program, and learn more about the syndication industry in general.

Hope this helps man!

Hey @Billy Daniel!

I've joined several programs and all of them have been worth the investment but there is one that stands out. 

The one that got be exceptionally good results was actually not a big name mentorship I found online. I met a syndicator and developer in my market at a local REIA of all things! He has 2000+ units and a 200M development pipeline and is always in the news in my city.

My Experience

I followed him for months and spoke a few times in person at events. At one of these events another investor saw me talking to him and introduced himself as one of his students who had just done his first multifamily deal. I didn't know he had a mentorship but I wanted in. I inquired and eventually joined the  intimate group. 

What I liked about his was it was focused more on the actions to take rather than just education. He layed out a step by step process and held me accountable through multiple weekly calls to make sure I was executing on what I needed to. The priority was on imperfect action and getting better overtime. 

He is huge on giving his connections to his students and emphasizing that this business is a team sport. This was huge for me to build my team and fill the gaps that I felt like I couldn't do alone. I liked the small group feel as it allowed for more personalized attention for each student as well. 

Long story short, I went from 7 residential rentals to acquiring 4 commercial assets for my fund within the past 14 months since joining his group.

Conclusion/Advice
1) It really depends on the goals you have and identifying what you feel like is holding you back from your dream outcome. A problem well articulated is half solved. Once you've identified specifically what your problem is you can then go about seeking the solution that fits best. 

2) I like the mentors who are still active in the business and make their money from real estate and not from coaching. 

3) Find out who actually does the types of deals you want to do some day in your market and get in touch with them! (Look up the biggest apartments or developments and see who sponsored/is sponsoring the project.)

With the right people around you and consistent execution results are inevitable.

Best of luck!

 Hey Billy, 

Choosing a program is almost like picking a car. They're so many options and even when you get it narrowed down... there even more options to choose from to make it exactly what you want. I transitioned from single family after BP Con last year. I was running a pretty successful flipping, LTR, and STR business. I say that to say, like you I wasnt a complete rookie when I set out for a program.

The hard part in giving a recommendation is that everyone's goals are different.  Some people just want to go around bragging on how doors they have and others want to be around the mf industry but will never really get in the game.  I personally not only want to learn how to get good properties but more importantly, run them.  I'm an engineer by degree so a methodological, data driven approach was important to me.  

Sorry, for the long reply but like I mentioned, I'm an engineer so like to share the details... lol. Anyway, I looked at some different programs and the one that stuck out to me was Apartment Addicts lead by Ashley Wilson and J Scott. What stuck out to me was their data driven approach to multifamily, their emphasis on asset management, and the lower (financial) barrier to entry. I find that they actually offer more than some other programs at a fraction of the cost. That improves my ROI and lowers my risk. If I didn't find the program helpful and could just stop and wouldn't be out alot of money. I also wanted coaches that were actively buying apartments and not just coaching.

Program is great.  I have gotten more support than imagined from coaches and the group.  I have attended some other coaching program events and they are good as well as have some successful students that I continue to meet with.   But at the end of the day Apartment Addicts had everything and more for the goals I had. 

Hope this helps.  Feel free to send me a message if you have a specific question.

Elvin O'Neal 

Managing Partner 

Www.clearmindequitypartners.co...