Whether you’re just starting out on the path to fulfilling your real estate investing dreams or have a little more experience, a good mentor can get you closer to realizing your goals by showing you some of the tips, tricks, and other shortcuts. that have fueled their success.
The problem many novice real estate investors, and some with a bit more experience, face is doubt about their ability to conduct profitable deals, along with numerous questions about when certain techniques would be most appropriate.
These doubts and questions can be easily alleviated with knowledge, but many real estate investors have trouble applying principles they may have read about, heard about, or seen in a short webinar. This is one of the main areas where a good experienced mentor can help you grow your knowledge base and give you the motivation and direction you need to reach your goals and fulfill your investment dreams.
First of all, not all mentors are the same. To be effective, you must have practical and relevant experience in the same type of real estate investing as those you plan to teach. A mentor may be one of the nation’s leading authorities on creative commercial real estate investing techniques, but much of that knowledge and experience is meaningless if you’re primarily interested in foreclosures, short sales, or rehabbing abandoned properties.
A good mentor will care about your development as a real estate investor and will take the necessary steps to ensure that you are well-versed in multiple investment strategies. He or she will share with you accumulated knowledge and advice on how to better market yourself and provide you with essential real estate investing tips and strategies that you can implement in your own career. By understanding a variety of ways to structure investment deals, you’ll not only increase your knowledge, but you’ll feel comfortable crafting your own deals.
In many cases, a mentor will work side by side with you in the field and explain why certain strategies may or may not be appropriate in a given situation. Additionally, certain strategies can be altered or modified in ways that a less experienced real estate investor might not be aware of or even consider. When you’ve been around the block a few dozen times, you learn things that a simple textbook simply can’t teach.
There is a special bond that develops between a mentor and his students. I have developed friendships with several of my students and am still in contact with many others on a regular basis. I am thrilled every time I hear that one of my students has achieved a profitable deal that might not have been possible if it hadn’t been for the time I spent with me listening, learning, and asking questions.
If you really want to jumpstart your real estate investing career, you owe it to yourself and your future to fully investigate the idea of working with an experienced mentor to shed light on the opportunity you have to build a strong investment portfolio and a bright future. For you and your family.
