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I don know what it is, but I feel like every forum posting I read the past few days has been about mentors and gurus. Either people asking, I pay for the advanced training course that includes personal mentoring? or simply, it worth it to pay for a local mentor? no means are these bad questions. In fact, they very important questions that need to be asked and contemplated. I not a huge fan of the color when it comes to arguing/debating, so I going to lay out my opinion as black and white as possible.
This Strategy Applied to My Real Life Real Estate Investing
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Just because someone does not have written on their shirt, or is not asking you for a chunk of money doesn mean they can be a mentor. In all actuality, the people NOT advertising they are mentors are the probably the best ones. Why? Because they are out there actually stuff and is not defined as trying to sell you Nike T Shirts With Sayings their mentor ship program.
Related: BP Podcast 017 Finding Mentors, Facing Retirement, and Note Investing with Jeff Brown
When you get out into the real estate world and start working deals, you are going to be in touch with all sorts of people in the industry. Real estate agents, mortgage bankers, accountants, lawyers, wholesalers, flippers, landlords, etc. If you are coming into contact with any of these people, it is because you are out there working on a deal.
Related: How To Get a Mentor For Flipping Houses in 3 Simple StepsI hope you get the point. When you are adding value Nike Sportswear Tech Fleece Women's Pants
Bypurchasing awholesale property from him ( action I need to meet up with him to sign papers and such. This gets me and him together, and since I am his services by purchasing the property, I am adding value to him. With this value being added, he is more than willing to sit back and take time answering questions for me or just kicking around ideas (mentor ship).
I totally understand and agree with the fact that just because someone makes a claim, it doesn always translate smoothly into the real world. With that being said, this is how thestrategyworks for me (Note: I say because I still doing it! You Nike Socks Colorful
If you listened to my BiggerPockets podcast, you know I met one mentor on Facebook. I will use his and my relationship for this example. This mentor does quite a bit of things in real estate, but his one greatspecialtyis wholesaling.
Bottom line, take $1 and turn it into $2 by spending it on action which will lead intomentor shiptraining with those people you begin to do business with.
Should You Pay For a Real Estate Investing Mentor
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to someone else operation, they will want to keep your business, and therefore, will gladly take time out of their day to talk with you. This is where you can take advantage of mentoring, so don be shy, ask away!
It is hard to add value to someone operations though if you no longer have any money because you just spent it on a guru mentoring course. Ya know?
on two things at once, and therefore, double the purchasing power of a single dollar bill? (I don know about you, but I not going to complain about a 100% gain in purchasing power!). That what this strategy is all about.
What if I told you it is possible to spend $1 Nike Womens Tech Fleece
There is no way you can do a real estate deal (no matter the type) all by yourself. It is an inevitable conclusion that you will need to utilize the services of other people in the industry. Think about it. Whether you are selling a property, piece of land, or piece of paper (note), there needs to be a buyer. Unless you have split personalities and are selling to yourself, then there will ALWAYS be at least one other person in the equation. Because of this, the opportunity atmentor shipis unavoidable.
When it comes time to sell the property, this is also anotherspecialtyof his due to his marketing geared towards those wanting to use seller financing. Once again, when the property is sold and I come in to sign the papers, this gets him and I together. By paying him a sellingcommission I am his services and adding value to him. In doing so, he is more than willing to give me guidance and whatever else I am in need of.
Due to the fact that mentors are unavoidable when you are out deals and because you have $20,000 to the services of whomever you are dealing with, you just gave these people a reason to help you out.
There are two phrases I slipped into the above section because they are the two pillars of this strategy working deals the services talk about how these two work together. This leaves him with $0.00 to working deals Hmmmmm takes that $20,000 and decides to take action and use it to working deals Hey! Now we getting somewhere.
Do I believe a real estate investor should have a mentor? Yes.
can never stop learning!).
The CostEfficientStrategy of Paying for a Real Estate Investing Mentor
By choosing option 2, Billy not only gets started in earning money for himself in real estate (opposed to earning money for someone else by giving it away), but also picks up mentor ship along the way. That sounds like he has turned $20,000 into $40,000 of purchasing power.
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