Mentor Magic


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Real estate investment is a complex world of research, planning, buying, and managing. Having a mentor can be a good thing. In fact, the right one can create magic for you inside and out of the real estate world. People get tense when the subject comes to real estate mentors do to all of the unethical so—called gurus that rip people off.

Key Things to Remember

Get to know your subject. There are so many facets to real estate investment that it is completely impossible for a beginner to know everything, including wholesaling, lease options, and subject-‘s.  The less you know about your subject, the more easily you can be taken advantage of or cheated.

Pick your niche. Once you know the business better, you can pick which avenue or niche you are truly interested in pursuing. Knowing this will help you to pick the best mentor to support your efforts and pursuits.

Pick the best, and question the rest. Research who in your area and your field has the best knowledge of your subject area or niche. Pursue or follow these experts as your mentors. The rest of the so-called experts, question thoroughly. Never be afraid to ask questions or challenge someone you aren’t sure has your best interests at heart.

Before you hire an expert, do more research. Ask to see properties owned by potential mentors. This will let you see for yourself a few examples of their purchasing experiences. In addition, get past student references. While testimonials are fine, it is better to actually talk to former students that truly benefitted from what they learned from their mentor. Talking to them in person without the mentor hearing will give you a chance to judge their sincerity.

Get it in writing. The best way to avoid getting taken advantage of is to put everything in writing. You need the expectations, the goals, etc. If the potential mentor refuses to do this, he is not worth your time or efforts in pursuing.

No intimidation. – Sometimes we are so taken with someone that we do not see the evidence that they are unscrupulous, or when we do, they use intimidation to keep you silent. Whether or not you are paying someone, do not let their prestige or position keep you silent. Ask questions and don’t be afraid to tell people if you are being cheated.

Where to Look

Friends or relatives – If you know someone, they are the best place to start. They have more knowledge specific to your area. The good news is they will cost very little or even nothing.

Organizations and Associations – These are local and national groups that help to promote the interests of real estate business owners. They usually have individuals that are trained and experienced at mentoring other real estate business people.

If you are looking for a mentor, start locally first. National mentors worth your time will come along as your knowledge and experience increase.

Cost

Depending on the quality of the mentor, you may have to pay some for his knowledge, materials, etc. Sometimes, this just may require buying a lunch or two. Other times, it may require a special weekend training session or two that may cost hundreds or more.

The right real estate mentor can give your business that magic touch it needs. Or more information on real estate investment or real estate franchises, visit us at Homevestorsfranchise.com. We have love of real estate opportunities for you!

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