Finding a real estate investing mentor is one of the best decisions you can make as an aspiring or experienced real estate investor. A mentor can cut your learning curve and compress timelines. They can also guide you through your real estate investing journey and help you avoid the mistakes they made.
Finding a great real estate investing mentor is easier said than done. It’s natural to be cautious with trusting a mentor with your time and money. It can also be hard to find a mentor, and that’s why we’re listing the top 9 most effective ways to find the best real estate investing mentor for you.
1. Local (free) networking events
Attending local networking events in your area is a great way to meet potential real estate investing mentors. A common misconception is that you need to find a mentor who is 100 steps ahead of you. In reality, finding a mentor who is only five steps ahead of you is easier and more practical.
At these networking events, you’re likely to connect with investors who have a few more years of experience than you. These people might even be better mentors, since it wasn’t that long ago that they were in your shoes.Finding a mentor at a free networking event might take a commitment to meeting as many people as you can, and having genuine conversations. Don’t ask someone to mentor you after meeting them one time. Find a way to bring them value, either by offering your time, money, or making a connection between them and someone else.
You may also have to attend multiple networking events consistently before you find someone who is interested in mentoring you. Be persistent, and you have a good chance of finding a mentor at these free networking events.
2. Paid mentorship programs
Paid mentorship programs are an obvious, yet extremely effective way of finding a trustworthy mentor. Paid mentors have a responsibility to help you, which is nice when you want someone who you can rely on.
Many students achieve great success from paid mentorship programs. However, not all paid mentors are created equally. Just because a mentorship program is more expensive does not mean it’s higher quality. When you’re comparing paid mentorship programs, make sure you understand the structure.
* Will you have direct access to the main mentor, or will you be working with a coach that works under them?
* Will the program offer weekly calls, monthly calls, or some other form of communication?
* Is the mentor an advisor, partner, or just a resource you can use if you need help?
Understanding your own mentoring needs and finding a program that aligns with your needs is critical.
3. Online forums
Online forums, like Biggerpockets, give you access to other real estate investors who are experts in their own niches. These forums offer a unique platform where you can post questions, network with other investors, and pick the brains of some of the smartest people in the industry.
You could make a post saying you are looking for a mentor, or you could directly message people.When you’re using these forums, make sure you are providing value to the community before asking for something in return. It’s human nature to want to help someone who you know helps others when they can. You’ll be more likely to get engagement on your posts if people see you are active in the forum community.
4. Utilize your existing network
Tapping into your existing network is a great way to find potential mentors. You might not directly know a real estate investor or professional, but maybe someone you know does. Someone in your network might have a friend who is a house flipper, or know someone who works in property management. Although their connections may not be real estate investors, they might still be able to offer valuable knowledge. Going out of your way to ask the people you know can only help you.
Direct referrals are also a great way to increase the likelihood of a potential mentor agreeing to work with you. Many people are off-put by cold approaches. Therefore, it’s worth letting people know about your interest in real estate investing, and asking them if they know anyone who’s currently in real estate. You never know!
5. Paid conferences
At paid conferences, you are likely to meet at least two people who mentor newer investors. These mentors go to these events to find new students to bring into their programs! If you don’t meet an actual mentor, you’ll almost certainly meet someone who has a mentor they can connect you with.
Paid conferences give you the opportunity to meet people face to face, and ask them questions about the mentor or program. This way, you can get an idea if the structure and culture is a good fit for you.
You can also network at these events with investors who have good track records but don’t have mentorship programs. If you build a relationship with them and try to lead with value, many investors are open to giving guidance and direction to someone who is just getting started.
6. Social media
Social media offers its users direct access to some of the most prominent thought leaders in the world. The real estate industry is no exception. Through social media, you can find investors who are documenting their journey, and offering education in the form of content. This alone is free mentorship. If you’d like to take it a step further and see if the real estate influencer would be willing to mentor you, here’s what you should do.
Start by engaging with their content. Repost it, comment, like, and share their posts. Offer valuable insights and feedback in their comment sections. Doing this consistently over time is bound to get their attention.
Thought leaders on social media tend to get a large number of direct messages. This makes it a challenge to stand out in the sea of messages from fans, bots, and other people asking for advice or mentorship. If you’ve been engaging with that person’s content, you’ve already built rapport with them. As a result, they are more likely to respond. If they aren’t taking on students, maybe they’d still be interested in hopping on a phone call, or maybe they can refer you to another mentor.
7. Podcasts and books
Podcasts and books are an easy way to find mentorship. You don’t need to speak with someone directly for them to mentor you. Many podcasts and books offer high level insights that can guide you as you progress along your real estate investing journey. Many real estate podcasts are interview-based, and bring on investors who are actually doing deals. They speak about economics, specific real estate deals, market trends, mindset, and so much more.Real estate podcast guests typically leave their contact information at the end of the interview as well, which is a great way to connect with investors you want to learn more about.
Books are also a great resource if you’re looking for education from a mentor. The book author created pages of real estate knowledge for your benefit. These books can be treated like textbooks, and you can implement the information in them to navigate the real estate industry and close deals.
8. Join a Mastermind group
Joining a mastermind group is an approach you can take to finding a real estate mentor. These masterminds tend to attract investors of all different backgrounds and levels of experience. Some of them might be at the same stage you’re in, while others may have decades of experience under their belt. This variety is beneficial because it allows you to connect with people who are going through the same challenges you are at the same time, and also gives you access to investors who have already overcome those challenges.
The investors who are in a similar position as you can serve as accountability partners. The investors with more experience can help guide you by giving you advice and insights into their failures and successes.
You can ask other people for referrals to a mentor they know, like, and trust. The people you’ve met at conferences, on social media, or on online forums might currently have a mentor or have worked with one in the past.
This option has been mentioned in the previous methods of finding a mentor, but it’s so powerful that emphasizing it is necessary. The best way to find a great mentor is to ask the people you’ve connected with along the way.The only way to be in a position where someone in your network knows of a credible real estate mentor is simple: go out and network. Eventbrite.com, Biggerpockets.com, and Meetup.com are places you can go to find free events.
As mentioned previously, paid events also attract many successful real estate investors. There is a strong likelihood that multiple attendees had a mentor they’ve worked with, and if their experience was positive, they’re going to be more than happy to share it with you. All you have to do is ask.
Finding the right mentor
In summary, there are many ways to find a mentor. Some options are paid, while other options require more of a time investment. Finding the best real estate investing mentor is mainly about finding the right mentor for you. To do that, you need to understand where you are on your journey and what your needs are so you can find a mentor who meets them.
The first step in doing that is to get out there and start looking for mentors! Rather than waiting for them to find you, be intentional in your search. You’re bound to find the perfect real estate investing mentor who will save you time and catapult your real estate investing career.