All Forum Posts by: C.J. Lauria

Honestly, I don't trust ads. I have seen some of the biggest disasters who have nice ads and even a website. You might try going to Lowes or Home Depot and asking for recommendations at the Pro Desk.

The same goes for Painters. Go to the dedicated paint stores and ask those who service the trades person almost daily. I suggest being very specific about your needs when asking to referrals.

Wow! I come back to the office this morning and see so many quality comments. Thanks.

I want to address Bills last comment about the mentor being active as an investor. There are several good reasons:

1- He/She should be in touch with the current market.

2- He/She should be up to date with current laws and ordinances.

3- He/She should be in touch with the rythm of the business.

Here's why I say that. Right now, there are "gurus" out there making big bucks on "REI education." One huge program that had made over $100M in this pursuit was started by an entrepreneur who had admitted to me personally that he was never a real estate investor. He says that he's an "educator."

Another shocking truth is that quite a few who claim big success in REI did it during the bubble. When the bubble burst they lost everything...now they teach it. I have had a few call my office over the last few years and they have told me so.

I am so adamantly against such hypocrisy that I have a passion for quality mentoring of quality mentees. Forums like this one are perfect for ferreting out frauds.

Excellent question, Larmon! Look at point 4 in my post. It talks about your mentor having a vested interest in your success. this is more than just a cliche.

Thanks for your message, Bill. Let me first address your last point. Over 3 years ago one of my staff signed me up on BP. I just reactivated today. I look forward to being an active contributor and welcome your advice anytime.

I have been a RE Investor since 1988 and only started mentoring a few years ago. Having been an accomplished Speaker and Author I have been appalled by the crappy presentation that so many so-called "gurus" have.

You asked about "teaching skills." Teaching is an art and having certain credentials does not insure quality teaching; case in point: Our public school system.

As you know, A good teacher does more than convey facts. They reach the heart with their message and motivate.

Cheers,


CJL

You have probably observed that your best first investment is in yourself. Even if you have closed a few deals in the past, you must have a mentor who can help take you to the next level in your real estate investing business.

For many years I have been a successful real estate investor and I still marvel at the masses of less experienced RE Investors who flounder in this REI business. They attend seminars, read books, listen to CDs and watch videos on getting rich in real estate. Unfortunately, almost all of these folks never make any money investing in real estate. They just spend what they have on more "education." Don't do that!

The sad truth is that there are so many real estate investing scams out there that you need to be very cautious about who you trust. So, what are some things to look for if you are to secure an honest apprenticeship from a true qualified mentor? The following is a checklist that you can use when choosing the right real estate investing mentor for your REI business.

1. The mentor must have actually had success investing in real estate. That means that they would be a millionaire.
2. They should currently be investing on their own. What are they doing right now?
3. Your mentor should be of good character with high moral values. If you are not comfortable that they are, run!
4. He/She should have a vested interest in your success. If not, they have zero motivation to see you through to your own success.
5. Your mentor should be a skilled communicator with exceptional teaching skills.
6. They should be patient and be willing to work with you on a 1-on-1 basis.
7. They must be reachable/available for you when you really need them.

The foregoing is a short list that I have created from my real estate investing experience over 3 decades and and my direct experience as an active real estate mentor of 5 years. Over the next few weeks I will blog about these points in a series of blog posts. I believe that it is truly imperative that you seriously consider each of these points carefully. If you do, your chances of real estate investing success are greatly multiplied.

My recommendation of getting a mentor is purely because I hate seeing sincere, regular people spend their last dollar on a huckster who is only after their money. This is criminal in my book. Remember, you are always responsible for the decisions that you make. Do your homework. You are starting a business!

I understand your concern about trust issues. Some REI people are overly aggressive and shouldn't be automatically trusted.

You may wish to explore simply selling the leads rather than JVing on the deals. It will be a nightmare to track and police!

Hi Adam. It is odd that the front door is not easily seen from the street. Do what you can to make it more visible. It will be interpreted as inviting.

Also, don't spend a lot on shrubs...maybe 3 along the house just for color. In Spring you can do a little more. If you plan to keep it as a rental, you can put somewhat thorny bushes under each window. this prevents people from climbing in and out. Be sure that the specie you choose doesn't grow to enormous proportions.