Looking for a mentor

[hassan88]

QUOTE (vandriani @ Jun 17 2009, 03:19 PM) If you feel that you must get into the real estate market next year, your best bet is to work with someone that is doing it now, in your target area, in your property type.

Are there mentors that are willing to work with beginners like myself and teach them the basics? I would love to work with someone and learn from them. Let me know if anyone is interested in taking me under their wing. I would just like to follow someone and watch them and gain experience.

 

[invst4profit]

QUOTE (hassan 88 @ Jun 17 2009, 10:51 PM) Are there mentors that are willing to work with beginners like myself and teach them the basics? I would love to work with someone and learn from them. Let me know if anyone is interested in taking me under their wing. I would just like to follow someone and watch them and gain experience.

You have received some very solid advice in this thread. In addition there is an abundance of information in other previous threads that you should read through thoroughly.
There is also a list of books to read which would be of great value.
There are also many other forums, both Canadian and American, which could be very helpful in your real estate education curve.
In the mean time you could be adjusting your life style so as to save as much money as you possibly can in preparation to move forward with investing.
This could,should, take several years. During some point in that time a membership in REIN may be a logical step.
All of this will prepare you to attract a mentor and provide you with value to bring to the partnership. You must bring something of your own to the table, maybe money to invest, before a mentor will be willing to offer up there time and knowledge.
Keep learning, keep looking.

 

[hassan88]

QUOTE (invst4profit @ Jun 18 2009, 06:13 AM) You must bring something of your own to the table, maybe money to invest, before a mentor will be willing to offer up there time and knowledge.
Keep learning, keep looking.

The only thing that I have to bring to the table is commitment, work ethic, positive attitude. As far as cash is concerned I am saving up and have saved up some cash.The reason why I would like to work with someone is because I learn fast and more through experience.I will continue to look and maybe someday someone will give a chance.

 

[DanBarton]

QUOTE (thomasbeyer2000 @ Jun 16 2009, 10:09 AM) Man plans .. and God laughs !

Haha that is brilliant. I have never herd that before. Not that it is not important to plan, but that its importnant to understand that plans will change and you need to `go with the flow`. Avoid swimming upstream as it`s a waste of energy. rather sit back and enjoy the ride.

 

[Thomas Beyer]

QUOTE (hassan88 @ Jun 18 2009, 09:40 PM) The only thing that I have to bring to the table is commitment, work ethic, positive attitude. As far as cash is concerned I am saving up and have saved up some cash.The reason why I would like to work with someone is because I learn fast and more through experience.I will continue to look and maybe someday someone will give a chance.
A mentor needs more than you winning but a sense of win/win relationship is key, too .. what is in for the mentor: pride, joy, money perhaps, recognition .. think win/win .. and a mentor will come forth .. think only about yourself and a potential mentor will ask "why ?"

When the student is ready .. the teacher will appear ! ...... (and without cash or access to cash teh student is not yet ready !!)

 

[hassan88]

QUOTE (thomasbeyer2000 @ Jun 20 2009, 05:10 PM) A mentor needs more than you winning but a sense of win/win relationship is key, too .. what is in for the mentor: pride, joy, money perhaps, recognition .. think win/win .. and a mentor will come forth .. think only about yourself and a potential mentor will ask "why ?"

When the student is ready .. the teacher will appear ! ...... (and without cash or access to cash teh student is not yet ready !!)

That is exactly what I am looking for. I am looking to work with someone (Not just learn from them and do my own thing).I do have a little bit of cash (and still saving up) and I could get a MTG if not now then definitely in the next 4-6 months. I believe that a mentor looks for commitment, work ethic and a positive attitude at first and once the student has developed the basic skills then the mentor expects the students to work with them. I am not giong to waste somebodys time who is willing to teach me. I have learnt a lot from this form alone and I really thank the people who have taken the time to respond. I am 21 years old and if I continue to look and network I am going to find somebody. This has been a great learning experience so far. My goal is to learn and then deliver.

 

[invst4profit]

" I believe that a mentor looks for commitment, work ethic and a positive attitude at first and once the student has developed the basic skills then the mentor expects the students to work with them."

I believe that a mentor (investor) looks for money.
Ask yourself what a mentor will get out of the relationship. Taking the time and effort to teach someone has, on the surface, no financial value to a business person.
Investing is all about money. Investors are always looking for more money.

If you bring money to the relationship they will then consider whether you have the other necessary qualities, commitment work ethic and attitude, that would make it worth there time and effort to mentor.
They will then consider your potential to bring more money to the relationship.

If you bring nothing to the table but enthusiasm and your intention is to learn and move on with your own investing what have they gained.

Bottom line: REIN is probably the only mentor you will need (don`t forget to bring money).

 

[DineenJJ]

It`s also important to form a relationship with the mentor like any other relationship in life. Some could say from the forum "Yes I will mentor you" but without meeting or knowing the person beforehand and developing a connection to be able to work with the person than the mentorship/teacher relationship for both parties will not be as optimal.

I`m 21 also and a REIN member. When I first joined REIN I put out the exact same post as you, asking for a mentor. I had all of the dedication and commitment in the world, read a lot of books about investing and personal development but you need more than a will to do something. A mentor never came from the forum saying "Dineen I will mentor you, young grasshopper."

But by attending the meetings and eventually finding the cash to invest, I had many mentors in the form of my realtor, mortgage broker, home inspector, etc. Also meeting people at REIN events and meetings was an excellent way to meet seasoned investors that I clicked with that I know are there to help me if I need it.

Taking action, finding JV money, and going to REIN meetings was the only way I found mentors.

 

[housingrental]

If you want you can also do work for a pm company

 

[hassan88]

After hearing from members its evident that becoming a REIN member is the best way to go. I will be going to one of the REIN meetings and become a member. I have 7k saved up and if need be I can always take a look at a LOC (I hope thats enough money to get the learning process started).Its time for me to take action and go out there and get it.Thanks everybody for their help.

 

[GarthChapman]

QUOTE (hassan88 @ Jun 22 2009, 06:50 PM) After hearing from members its evident that becoming a REIN member is the best way to go. I will be going to one of the REIN meetings and become a member. I have 7k saved up and if need be I can always take a look at a LOC (I hope thats enough money to get the learning process started).Its time for me to take action and go out there and get it.Thanks everybody for their help.

Well done! You won`t regret taking this action.

 

[Tibo]

where do you want to live.

I started reading don`s real estate investing in canada two years ago went to a quick start weekend (recomened)
Get yourself a map of the city, look at the areas you like and highlight this areas. get a real estate agent that specilize in investment properties and talk to him or her tell them your goals and start your "team"

I now have two sixplex unit and will start coasting for now

start learning maintenance and you will know what to look for in a property management firm

 

[hassan88]

I remember posting this thread and thought that I give an update.

First of all the feedback I got was life changing and I listened to what REIN/Forum members had to say and dug deeper as to why invest in real estate. Just like most members money was the major issue and at the time expertise. I went to the ACRE event in June 2010 and the knowledge I gained changed my life. I am always skeptical when I hear "Life changing event" but this truly was life changing. One thing lead to another and I managed to attract a great group of people and created my own team. Within two months of joining REIN I bought my first property with by business partner and currently we are pursuing about 5-6 deals. Even though I am far away from calling myself an expert, I have the confidence to take ACTION.

The knowledge that I have gained has allowed me to attract capital as well and create win/win relationships.

For anyone who is serious about Real Estate Investment as means to create long term sustainable wealth REIN is the place to be.

Thank you Don, Patrick, Russell, Thomas, REIN team and REIN members in making a difference in my life.

Sincerely,

Hassan

 

[Rickson9]

Congratulations Hassan! Great story!

 

[JoeRagona]

Awesome to hear how it affected your life. Your are now in a position to positively impact OTHER people`s lives through your ACTION and knowledge! Great speed forward my friend!