You get lost between a pile of choices to make and you’re not even sure which decision will best suit you. That is why every real estate investor should have the right real estate investment mentor by their side to guide them along the way. People have been investing in real estate for decades now and if you are given the chance to learn from someone who has accomplished what you dream of accomplishing than do not second guess the idea of having a real estate investment mentor.
It’s only common for inexperienced real estate investors to think about how to find the best real estate investment mentor. No matter how experienced we are in a certain field, we always search for more ways to gain a little extra knowledge. Gaining more knowledge and looking from different perspectives helps us to exceed our success to the highest limit. Even today’s most productive investors are never satisfied with their current understanding of the housing market and are constantly searching to learn more.
Related: How to Learn Real Estate Investing on Your Own
There is only one way to position yourself where success is essentially a foregone conclusion: find a real estate investment mentor. You are more likely to achieve your goals as a real estate investor if you put yourself next to someone who has reached success in real estate. In the end, a mentor should be someone that can teach you the best and most professional way to get things done. Which brings us to the question of who is considered a real estate mentor?
Who is a real estate mentor?
A real estate mentor is someone who works with you one-on-one to close deals on investment properties. They share with you their knowledge, expertise, and the different methods they use. They give you advice on real estate investing from their experiences. So it’s pretty cool having someone who guides you and helps you out especially if you’re new to the game.
However, don’t think that a real estate investment mentor will do the job for. They are there to advise you and it’s up to you to do the actual work. Some think a mentor should be a guide who helps you when needed, while others want a mentor to do all the work for them. There are also those who think a mentor will tell them exactly what to do at all times, and when they don’t get that, they give up. So don’t get confused between what a mentor’s job is and what your job is. Find a real estate investment mentor who will meet your specific needs.
A real estate investment mentor can guide you and help you out, especially if you’re a beginner in the industry, but find one that meets your specific needs.
How to find the best real estate investment mentor
There are certain steps you will have to take in order to find a real estate investment mentor who will take your career to the next level.
- You need to first identify what it is you want and hope to achieve.
- Then you need to determine whether or not your vision has the credentials to meet your goals.
- You need to also be sure of the level of risk you are willing to tolerate because real estate investing can be risky.
- When you look for your real estate investment mentor, you want to make sure you find someone who is respectful to you as you are to them.
- Last but not least, you and your real estate investment mentor should have the same goal in mind. Your goals should be one.
Related: Set Your Real Estate Investment Goals The Smart Way
What are the four questions you should ask before choosing a real estate mentor?
You want to ask your mentor a few questions to identify if this potential mentor will suit your needs or not.
1. What are the skills required to achieve peak performance in real estate?
This is an important question because it will identify the mentor’s knowledge of real estate sales. Their answer should include information about real estate sales such as different techniques to use, how to manage revenue and control expenses. If they give an answer unrelated to the question asked then you know that they are not experienced enough to be your real estate investment mentor.
Related: 5 Skills Needed For Real Estate Investing
2. What resources are available that will guarantee my growth and success?
Depending solely on your real estate investment mentor and the advice they provide is not the answer to improving your skills. Your mentor should recommend you books, seminars, websites, workshops and different professional opportunities. These resources should help you improve your skills and independently succeed in real estate.
3. What experiences have helped you develop the desired skills to excel?
You should ask your real estate mentor what experiences he/she went through that helped them succeed and the challenges they faced. Hearing about their own experiences will help you learn from their personal mistakes. Ask your mentor what successes did they most enjoy and what failures they survived through. These types of questions will form a closer bond between you and your mentor.
4. What are your goals and how do you plan to approach them?
If your real estate investor can provide a clear explanation and thought-out plan for his/her goals then you’ve found the right real estate investment mentor. You need to hear out their goals and their plan to achieve them because that is the same approach you need to start your career.
The bottom line:
Having a real estate investment mentor by your side is crucial for every investor starting in real estate investing. You can get lost between all the cans and can’ts and what-ifs in real estate, but having an experienced, successful mentor guide you through the way will increase your chances of succeeding. Having a mentor is a great way to help you learn from other people’s mistakes and rise above the crowd.