A real estate mentor is one of the common names for someone who individually guides and educates new real estate investors. A real estate mentor is also commonly called a real estate coach, or a real estate consultant. The name is basically irrelevant. It is the job of a real estate mentor that is important.
Before we get into what a real estate mentor is, we should look at who can become a real estate mentor. A real estate mentor has to be a subject matter expert, and not just in the academic sense. A real estate mentor needs to be someone who has built a successful real estate investing business. If you find someone offering their services as a real estate coach, and they don’t make their living from real estate investing, you have found the wrong person. If that person has a W-2 job, you have found the wrong person. The only people capable of teaching you how to attain financial freedom through real estate investing, are people who have actually done it themselves. Not every real estate investor can do this. Even the seasoned real estate investors who have decades of experience, but still haven’t found their way to financial freedom, are not qualified.
From the small group of real estate investors with enough skill to actually build a retirement income from their investing; there is a much smaller pool of qualified investors who want to spend their free time helping others. This is more of a mindset thing. Even the best investors may be reluctant to share their secrets, or it may be that they are uncomfortable communicating with others. Whatever the reason, it is a small portion of the pool of qualified real estate investors, who actually want to teach the next generation how to succeed. I am not talking about the gurus with the flashy sales pitches and home study courses. I am talking about ordinary investors who aren’t using real estate education as a wealth building vehicle.
Now that we have narrowed the pool of potential real estate teachers down to successful investors who actually want to teach, we can look at what the real estate mentor should do for you.
A good real estate mentor will be reachable. Many of the so called mentors out there, have call centers that field student calls. This is great for the guy selling mentor services but it sucks for the student. You need to be able to talk to your mentor.
A good real estate mentor is a good communicator. You can have the best investor in the world on the phone and it will do you no good if you can’t understand what they are talking about.
A good real estate mentor is broadly knowledgeable. You can’t get very far, if you real estate coach only knows how to wholesale, or flip, or to be a landlord. You need a mentor who knows all of these avenues and the steps that you need to be successful in each discipline of real estate investing.
A good real estate mentor is organized and he has a plan for you. Real estate investing is not a one size fits all sort of endeavor. Students come from all walks of life. They have different skill sets, and different goals. A good mentor knows how to custom tailor lessons so that the student actually learns. The goal of any good real estate mentor is to bring the student to a point where they no longer need a mentor.
If you wish to learn more about mentors, go to our home page and look for the page on mentoring info.