How To Find A Real Estate Investing Mentor

Why You Need A Mentor In Investing

Real estate investing is one of the best roads to financial independence and passive income, but as a new investor, all you’ve got are questions. It can be hard to know where to start or how to make the best decisions - especially when there is so much (often conflicting) information online about so many ways to do so many things. 

During times like these, having a mentor is absolutely crucial.

In this article, we'll talk about why it's important for new real estate investors to have a mentor, what the benefits are, and where you should start looking for one.

Why It’s Critical To Have A Mentor

A mentor can teach you a lot, and even if you have next gen real estate investing software, one of the most important things a mentor can teach you is how to spot good investment opportunities.

Mentors Help You Understand Markets And Your Goals

A mentor can teach you how to look at markets and properties, help you draw up income estimates, and figure out how much risk you are taking. They can also help you make a firm plan for investing based on your goal, whether it's fix-and-flip, buy-and-hold, or something else.

Mentors Pass Their Experience On To You

A mentor can help you figure out how to get money, how to negotiate deals, and how to handle the legal and regulatory parts of real estate investing. They can introduce you to people in the business, like real estate agents, contractors, lenders, and lawyers that can help you build your investing team. 

Mentors Motivate You

A mentor can also help you feel good about yourself and keep going. Putting money into real estate can be hard and even overwhelming at times. Having someone you can talk to for help and support is invaluable.

How To Find A Mentor

One thing you can do is look for real estate investment groups in your area. Most of the time, these groups hold meetings and events where you can meet other investors and maybe find a mentor. You’ll often find experienced investors are eager to share their experience and help young investors get started. 

These meetings are great chances to meet new people and learn things that can help you in the future. You can also go to conferences and seminars to meet new people and learn from experts in your field.

You should try to get in touch with successful investors directly. You can send them a message or email to introduce yourself and ask if they would be willing to be your mentor. Respect their time and don't expect them to take on the role without some kind of exchange or payment, like helping them with some of their projects or paying for their time.

Better yet - identify a skill you have that you could sell. Offer this skill to these investors in exchange for their time. Realize it won’t be an equal exchange - you’ll probably need to give 3x - 4x your time in exchange for their time, because their time is worth more than yours. 

That’s ok - experienced investors will often respect the gesture more than they will the actual exchange of value. 

Finally, you can also think about hiring a coach or mentor who does this for a living. These people may be able to give more structured and individualized advice. Even if it costs more, it may be worth it if it leads to success and more money.

For new real estate investors, finding a mentor can change the way they do business. Having a mentor can help you avoid making mistakes that will cost you a lot of money, help you reach your goals faster, and give you emotional support and motivation. Along with having a mentor, having the right software is crucial for moving forward. 

Along with a mentor, education plays a huge role in your success as a real estate investor. Brush up on your real estate education with our resources below!