Do you want a Mentor?

[Bluemoon06]

Everybody talks about getting a mentor. When I was getting started I heard that too.  What do you do with that information?  Go to the yellow pages and look under Mentor?  Go to church and pray for God to send you a Mentor?  Stand on the corner with a sign saying "Mentor wanted".  What I suggest you do is to find someone that has out of life that you want.  He has the time with his family, the health, wealth, fitness and happiness you want and do what they do. 

In the real estate area, I went to the local real estate investors club.  I didn’t care as much about the speakers I looked at the vendors.  The real estate lawyers, mortgage brokers, realtors, inspectors etc.  I talked to them.  These are the workers of the industry.  I found out who they were working for that actually were doing deals.  I called those people.  Some of them were kind of “Sanford and son” type landlords.  These are the guys driving around in a beat-up old white van fixing toilets.  But some were living the lifestyle I wanted.  A couple of these guys were not “my type” of person, but a few were.  I found out that a couple of them made their money by being a lawyer or some other good job and just owned some real estate.  But a couple were actually making money from their real estate.  I asked those guys what they were doing.  Why they did it that way and how did they do it.  That is how I developed my mentor.  I never called him a mentor he never called me his mentee.  We just had some conversations about real estate.  After you do a deal or 2 they realize you are actually serious and then they actually start to give and take information with you.  It becomes a symbiotic relationship.  You become a benefit to them also.  One thing that they don’t have is a person to talk about their business to that is in it and actually doing it.

The 3 stages of the real estate investor.  First is dependent, where you need stuff from everybody you see.  Then independent, that is where you are making offers and doing make-readies and leasing find deals etc.  The third is interdependent.  At that state you are getting help and giving help.  You are then IN THE GAME.  People call you with deals, they ask you should they do a deal, you give deals to them when you are too busy etc.

[cdspeights]

I like this information, Blue.  It is very realistic in today's environment. 

I am still trying to become independent at this point.  But, there is a guy whose "buyer's list" I have been on for a couple years.  At one point, my brother and I were going to try to rehab, so I found some folks doing wholesale deals and he was one of those people.  Out of the 5 or that I found, he is the only one that I still get weekly emails from.

One day, once I decided I wanted to wholesale as a new investor, I just called this guy.  It is amazing the information that he's willing to share.  He made this exact comment about sometimes needing help or needing to pass a deal to a fellow wholesaler cause he's more North Houston and I am South.  He has never mentioned the word, "mentor", but has always been very receptive and responsive to questions, etc.

[orion2730]

Hay man great Info and prospective, I have been trying to break in to the business myself and it has been hard, i have a family to take care off and its been difficulty to find a mentor who is "real" and not just trying to sell me something, its made me a bit cynical but still trying, I know i have to take some steps to become successfully in this business but its been hard to keep motivated,  I guess I had a fantasia of someone taking me under there wing and showing me the ropes with extra business being there motivation, but I think I am learning that there no such think or person in today's market, I will try your approach and hope to get lucky.

[MichaelQuarles]

This was a funny line I heard a while back..

"Have you ever noticed all of the bad words have "MEN" in them   Menstrual Cycle, Menopause, mentally ill, omen and now MENTOR

[tatertot]

Michael Q, I think you are a decent guy so I am assuming you don't realize how extemely offensive your "joke" is.  Please keep in mind that there is mixed company on this forum.

Thank you

[orion2730]

Michael Q, I think you are a decent guy so I am assuming you don't realize how extemely offensive your "joke" is.  Please keep in mind that there is mixed company on this forum.

Thank you

Wow you found that offensive?  This PC attitude is out of control in this country, I told my wife that Joke (just to get a woman's prospective) and she had no problem with it. 

[Bluemoon06]

What about mental illness?  Is that negative?