Summary: In part 4 of our Finding the Right Real Estate Investor Mentor series, we will share eight tips for finding the right real estate investor mentor. Topics also include advice from real estate experts, questions to ask yourself before choosing a mentor, and how to develop a successful relationship with your real estate mentor.
Now that we are on part four of this series, I hope we’ve established a solid understanding of mentorship, what to look for in a mentor, potential benefits, and the best questions to ask. Our next step is to provide eight tips for finding the right real estate investor mentor.
Follow these tips to get yourself out there and in front of real estate investment experts and potential mentors willing to help you. As you meet new people and your network grows, new opportunities to learn and grow within real estate will present themselves.
8 Tips for Finding the Right Real Estate Investor Mentor
Decide on the real estate framework that works for you and your goals. Next, get out there and find experts in the industry that you can learn from.
Tip #1: Join Local Meetup Groups and Networking Events
If you aren’t familiar with Meetup, it’s an online platform for finding and building local communities. According to Meetup, “People use Meetup to meet new people, learn new things, find support, get out of their comfort zones, and pursue their passions, together.” It’s a great way to find others who are interested in the same things you are, like real estate, and make connections with them.
Try looking up real estate investor networking events online and see what comes up in your area. There is likely a real estate investing club in your area. Both of these are great ways to meet experts and potentially a great mentor.
Tip #2: Research Online to Find Other Investors
A super easy way to find other local real estate investors is to do a simple google search. Once you have located a handful of investors in your area, try reaching out to them through their website and ask questions.
Tip #3: Volunteer with Causes They are Involved In
A great way to meet people and really present yourself in a positive light, is to volunteer with causes potential mentors are involved with. Volunteering to help shows that you are willing to add value and an easy way to get your foot in the door with a person or group of people. The point is, if you put yourself out there, you may see doors start to open for you.
Tip #4: Go to Their Free Trainings
Oftentimes, real estate investing clubs, professionals or companies will offer free trainings. There’s also a huge amount of free trainings and webinars available online. RealWealth offers free membership and access to hundreds of articles, webinars, resources, lenders, etc. Take advantage of every free, reputable resource you can get your hands on.
Tip #5: Do Great Work, Get Noticed & Possibly Recruited
This tip may sound like a long shot, but trust me, it’s not. One of the best things you can do for your investing career is to do a stellar job and get noticed. Whether that’s volunteering your time to assist a seasoned real estate investor or excelling in your chosen career. People who do great work often get noticed and recruited for better opportunities.
Tip #6: Invest with Them & Learn as You Go
Find a niche. Whether it’s commercial, distressed, single-family, multi-family, etc. Attend free workshops and local investment group meetings specific to your niche. Then find an active investor to possibly invest with.
If you have the cash, an excellent approach to finding the right real estate investor mentor is to actually invest with them. Investors are looking for capital all the time. Consider expressing your interest in investing with them, along with the intention of learning throughout the investment process. An investor looking for some extra help and capital will jump at the opportunity.
Tip #7: Search MLS for Past Cash Buyers in Your Market
If you’re a licensed agent and have access to MLS (Multiple Listing Service), you can search for anyone who has bought a property with cash in the last six months. The cool thing about this approach is that you can easily find local investors. You also have access to information on the properties that were purchased and get an idea of what different investors look for.
Tip #8: Go Where they Hang Out and Initiate a Conversation
Please note: not in a creepy way. By following the previous six tips, you should have the opportunity to meet a variety of people actively investing in real estate. Those people know others who also successfully invest in real estate and the web (or network) continues. The more willing you are to get out there and meet new people within the industry, the bigger your network will grow. You may be surprised by finding the right real estate investor mentor when you may not even be looking. Remember, mentorships happen naturally all the time.
Advice From Real Estate Experts
Experts from across the industry share their advice on how to find a real estate mentor, the best approaches and finding the right one.
- Be selective about potential mentors. Find someone you find interesting and would like to emulate. – Keith Robinson, Chief Strategy Officer, NextHome
- Seek out real estate investors in your area. Attend a local real estate investors association (REIA) meeting to network. – Benjamin Mizes, CEO, Clever Real Estate
- Get referrals from people you know. – Ron Humes, VP of Operations, Post Modern Marketing
- Attend real estate conferences for investors. Be transparent. – Karen Elmir, CEO, The Elmir Group
- Find a paid mentor. This accelerates your learning curve and avoids making big mistakes. – Michael Blank, Real Estate Investor and Author
- Pick an investor in your field of investing. – Spike Spencer, Trainer & Real Estate Investor
- Don’t put someone on the spot. By asking an indirect question like, “I’m looking to get into real estate investing, do you know of anyone else I should talk to.” They will let you know if they are interested in working with you and will also give you additional investors to reach out to. – Robert Taylor, Owner, The Real Estate Solutions Guy
- Ask a realtor to refer you to an established investor. – Brandon Renfro, Professor & Finance Planner
- Look at online reviews and testimonials. See what a real estate investors clients, customers and students say about them. – Property Mob
- Ask your financial planner. It’s very common for professional financial planners to invest in real estate. If they don’t, chances are they know people in real estate investing and can make recommendations. – Scott Alan Turner, Financial Planner
Before Choosing a Real Estate Investing Mentor…
Ask yourself the following questions before making a final decision on a real estate investor mentor:
- What do you hope to accomplish as a real estate investor?
- Are you comfortable with the success your potential mentor has achieved?
- How much risk are you willing to expose yourself to?
- Is there mutual respect with your mentor?
How to Develop a Successful Relationship with Your Real Estate Mentor
Once you’ve found the best real estate investing mentor for you, you’ll need to start developing a positive relationship with them. Figure out how you can help or assist your mentor. What are their needs? How can you provide value?
Look for ways to create and add value. Find a way to bring in deals. Avoid waiting to be told what to do or how to help. Be proactive. Your mentorship should be a high priority relationship. So it’s important to take the time to develop it and ensure its success.
What To Do Next?
Follow any or all of the eight tips for finding the right real estate investor mentor. Don’t think of finding a mentor as being a difficult or overwhelming task. There are plenty of ways to meet and connect with people online and in person. Make sure you stay up-to-date on local events, seminars, trainings, meetups, investing clubs and anything real estate. Attend those that are relevant.