|
|
Portal Site Builder wrote:Can someone recommend a mentor to show someone how to get started in RE investing ? Im interested in buying foreclosure/bankruptcy properties and selling to retail buyers. So at some point I will need to assemble my own network of real estate agents, brokers, title companies, rehabers etc.
My true recommendation to you or anyone getting started in any type of RE, is to do these things and you can be successful. (Mentors are not readily avail. at least the kind who have lots of experience doing so, and who are willing to train you for a fee.) So here are my basic steps to success: (hey- it's free advice- so if you don't like it, at least it cost you nothing!) [By the way- if anyone does have mentoring referrals, by all means, go ahead and post them!] Hope this helps someone who reads it! (It's a good reminder for myself if nothing else!)
- Network a lot- don't be too casual about it. Have a purpose; i.e. if you want to learn the foreclosure business (REO's), find folks who are 1.) Already working it 2.) RE Agents - esp. those who specialize in offering them, and/or they themselves work directly with the banks by 'listing' them for the banks. 3.) After you find them, put them in your contact list, and actually call them back- introduce yourself again- remind them of your prior meeting.
- Once you find those people, spend time with them. Don't just be needy or too demanding... 1.) Pick their brains, but also, see how you could be of value to them- 2.) Do they need other investors? Introduce them to some, or how to find some (like at the REI clubs etc.) 3.) Do you have computer/office/marketing skills they could tap in to? 4.) Take them to lunch- on YOUR dime.
- Find 2 or 3 that you hit it off with especially well- those who seem to have what you want and are willing to share. Much of the best mentoring we have received in this business has been by other caring people who are willing to invest a little time into you to help you get where you are trying to go. Just don't overwhelm them, they have businesses to run and lives to live too. That is why it is good to have several (in each area of interest to you, i.e. Buying Foreclosed Properties, Selling Retail, Owner Financing etc.) so you can call someone different each time and not wear one generous soul out!
- Research your topic. We all know there are lots of resources out there on all aspects of RE. I want to suggest that if you have not tried your local (or a Larger City's) Library, try there first, for free resources. You may be surprised at the materials you can find there. We all know there are Guru's to buy from as well. That is great, I love most of the ones I have either heard or taken their programs- but first before spending lots of $$, ask around to see if others have been through their material and how they liked it, or you can also go to a review website called www.realestatecoursereviews.com and look up the Guru and see what other folks like yourself think about their materials.
- Last but not least (hey, how many steps do you want for FREE!?)- take MASSIVE action. Put into practice what you are learning and you might be amazed at your results. I know for myself, and I think I am typical, out of 100% of what I know to do, I might be putting 5-10% of it into practice regularly (if that much!). Sometimes we just need to go back to basics and build a routine of those things we know will be the most effective in bringing us our desired result, and be consistent. (I have never been accused of being overly consistent! So, I am talking to myself too!)
|
