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Choose your Real Estate Mentors who Practice what he PreachHave you ever been wondering what these real estate mentors all have in common? What makes them qualified to teach you the fundamentals of investing?
Having the right mentor can make or break your investment career. Here are some criterias you may wish to consider before choosing your mentor(s) to work with.
1. Experience
"Get the right man to do the right job"
Having a mentor with experience in the real estate arena is important as you will be learning all the wisdom, experience, and MOST importantly, the mistakes that are made during his or her investing career.
Why mistakes? Because if you know it, you'll learn from the mistakes and avoid repeating it in your real estate investing venture. Think of it like learning from other people's mistake so you can reduce your own. (You'll still make mistakes along the way, but it's better to make small mistakes rather than big ones).
As for the duration of experience, the longer the better.
2. Who makes a lot of Money
Is your real estate mentor actually make money from his or her real estate investments before they teach you to do the same? Or is your so-called mentor just preaches without practicing?
If you want a mentor, find one who does make money and can show you how to do it. Do you prefer a real estate millionaire or a professional coach with no real estate portfolios in his belt? You decide.
3. Specialized In an Area
If you want to invest in a certain location and yet not fammiliar with it, it is best to find a real estate investor who specializes in that area.
Sure you can find agents specialized in a location too but the real estate investors have the upper hand of knowing which deal is good and which ones to avoid.
Besides, they may know more about that area, the laws to invest there and the problems regarding that area.
4. Specialized On Techniques
There are many techniques of investing in real estate(flipping, no money down, etc). If you want to master one or more of these techniques, try to find someone who is good at them and make a lot of money from it.
5. Real Estate Agent and Investor
These people have both the experience of locating good deal properties and investing in it. By having them as mentors, they will show you how to find the best investments by allowing you to share their investing secrets and possibly their contacts to excellent real estate deals.
6. A mentor who once is a mentee
Getting mentored by them is an added advantage to you. A mentee becomes a mentor, armed with all the knowledge, wisdom, and experience from their predecessors. They can help you by giving you all they have learned plus their own refinements and new skills that they have developed during investing.
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