First, find one locally you can meet and work with. Second, I called the “I buy houses” ads in the local paper, told them that I was new, looking for a mentor and would they be willing to help teach in exchange we would split the deals. Don’t get discourages if they say no because they don’t want to teach the competition. Others will say yes because there is plenty of business.
Third, find out where your local RE investor club meets and network, network, network.
My first mentor I had contacted through an ad she was advertising her properties on a RE web site. She walked me through everything and it was worth splitting the deal.
My second mentor I met at the gym when I overheard a conversation. He is teaching me other strategies and also has deep pockets to fund properties. I work with him when I need to, do some on my own and it works great.
has any of you nice people purchased Ron’s Wholesale Course? I have pyurchase his Cashflow mini course, the one that is advertised on TV, It was $49.00.
Does the wholesale Course cover more than the “TV Course”?
I figured for a Newbie with out the inital Capital, This would be a good way to start; Buying Junkers and wholesaling it to potential investors. Before spending the Bucks, I want to get your opinion on it.
I have Ron LeGrand’s wholesale course and I think it is a very good course. I also have Steve Cook’s wholesale course and think it is just as good if not superior but at cost about a third of LeGrand’s (of course Steve’s course doesn’t come with CD’s like LeGrand’s).
As far as the mentor business, I think it could be a good move for your first deal or so just be careful who you select because here in DC there are several purported gurus who will be happy to mentor you but have only done a one or two deals themselves.
On the other extreme, there are some guys who will promise you the moon to get ahold of your cash and/or credit and use your money to payoff investors from previous deals (pyramid).
So please be very careful who you select for a mentor because lately, it seems that the standards to be deemed a mentor is the successful completion of one deal and to remember all of the quotes from Ron LeGrand and others.
Best wishes, if you want to email me privately for more personal details, please do so.
I would suggest you join an investment club in the area, network and ask people who they recommend.
Not that I don’t think some of the courses available are valuable information. For me, I took a different strategy and that was to find a local investor who could mentor me. We split the deals 50/50 for the ones I need him on and I get valuable advice anytime I need it.
Two ways you could look at this. First, you could buy a course, learn it, use it and close some deals but you may not do it right or not make as much money as you like. Second, you use a mentor, do it right but split the profits.
I have found that even though I have bought a few courses, none compare with actually doing the deal and having someone in your corner to make sure you do it right. I use my mentor only when I need him but it is nice to know I’ve got him when I need him PLUS the folks on the CRE discussion boards.
Finally, a lot of my education has come from CRE, reading everything about the strategies I am interested in and posting questions.