Finding a Real Estate Mentor

One of the smartest things I can recommend to new investors is to find a mentor. A good mentor will save your time and money. Before you start your real estate investment business, you should do a little research on your own as well. There is so much information available online and in the bookstores, that you won’t have any trouble finding real estate investment information.

Finding Your Mentor

So where do you find a mentor to work with? Here are the best places to look:

• Real estate seminar
• Real estate course
• Investment club
• Another investor who is a friend or family member or associate
• Right here on this blog

Guidelines for Choosing Your Mentor or Guru

There are many mentors who are full of hype and don’t deliver on their promises. So just be careful when choosing your mentor and ask questions. Here are some guidelines to follow:

• Work with someone who has been investing in real estate for at least 5 years
• Find out what they will and will not be doing for you. Get everything in writing
• Ask what type of materials and instructional information you will receive
• Make sure they are not getting more out of the relationship than you are
• Don’t commit to a long term contract in case things don’t work out
• Make sure they are listening to you

Having a good mentor is invaluable because you will learn the right real estate strategies and techniques so that you understand how to invest in real estate and avoid costly mistakes. Make sure your mentor is really someone that you respect and want to work with. Weigh the cost benefit to you because there is enough real estate information available on the Internet and elsewhere for free so you want to make sure you are choosing a mentor that is going to help you with a business model that will make you money and teach you how to invest wisely.