Learning from the best in the business Scott Dylan About and knowing that they could eventually be your competitors should ignite the fire that fans the fire to your success. Finding a mentor that you are comfortable with can ultimately steer you in the right direction. Meeting and working with someone who has already “been there and done that” can help you establish your goals. And give you guidance as to where you need to go and what you need to know to get there.
Someone who has already experienced the whole process can be exceedingly beneficial, especially to an investor just starting out. Seasoned investors can also benefit from colleagues and mentors. Business, as with any other venture in life is a learning process and a continuing work in progress. The willingness to learn everyday is what will lead to growth, progress, and success.
Whether it is putting financing into place, buying foreclosures, REOs. Or “subject to” properties, knowing when to buy and sell, leasing options. Or how to work with and deal with agents and brokers, just to name a few of the aspects involved in the real estate business. It is always helpful to have an experienced individual to turn if necessary.
Working with someone that you connect with and who is also willing to take you under his/her wing. As a budding investor can make such a difference in both your attitude towards the business of real estate investing and your future success as a good deal maker. Why not benefit from the knowledge of others.
Be a sponge. Learn all you can. Most successful investors are more than willing to share their advice and success stories with others. Lending an ear and taking an interest in what a potential mentor has to say can mean a world of difference to you and your business. The reality of it all is that there are a ton of “mentors” out there that are overly enthusiastic and have way too much to say. The key is to connect with the one that meets your specific needs and standards. Learning and working with an individual that can see “eye to eye” with you also understands your business aspirations and goals is crucial when identifying who to consider and eventually work with as a mentor.
Finding the right mentor to guide you on your journey to success can be tricky. First and foremost, you need to know what avenue you wish to pursue and focus on. Once you establish the area of real estate you believe will be the most profitable. Whether you decide to invest in foreclosures, bank owned properties, short sales, “subject to” properties, etc. So working with an experienced professional in your area of interest is a constructive way of leading you in the right direction more quickly and efficiently.
After all, time is money and the quicker you close the right deal, the faster you attain the profit. In a nutshell, find a mentor that you can see eye to eye with and is on the morally and ethically on the same level, and become their pet. Learn all you can and apply it to your real estate business. They are willing to teach and you are willing to learn. So it is a positive and progressive venture for both of the parties involved.