We have a posted previously on how a real estate mentors can help investors navigate this process with ease. Investors often ask about the qualities that make one coach better qualified than the other. Is it their credentials, experience or the way they work? To tell you the truth, it is hard to pinpoint any one quality that distinguishes the best mentor, because there are a few factors that together make a good mentor.
In this short post, we have discussed the qualities to look for when choosing a real estate mentor.
This should be the first criteria to rate real estate mentors. A person who claims to be a mentor but has no real experience buying and selling properties will not in any way be able to advance your investment career. The coach should have been active in the real estate market for several years; however, the longer the better.
The main reason you should work with an experienced person is because he or she will teach you the important strategies in addition to the mistakes they made so that you do not repeat them.
The methods of real estate investing have undergone serious change especially with the introduction of creative real estate financing. Hence, it is necessary to work with a real estate mentor who is currently actively investing in property as they are well-versed in the current investing trends and markets.
They Make Money
There are many mentors that have the qualifications, the experience and are actively investing in real estate, but they are not making any money out of it or they are not making enough money in proportion to the amount of effort they put in. You need to look for a mentor who knows how to make money with every type of property investment and can teach you how to do it. After all being profitable is the number 1 goal of any investment.
Personalized strategies and skills are the secret to success in real estate investment. The mentor should be well-versed in the varied investment strategies and should also have a personalized skill set that he has used throughout his investment career.
The intention behind using a real estate mentor is to guide you in investing. He should guide you, but not dictate to you. After briefing you on what’s best for your investment portfolio, he should leave the decision to you. If there is a mentor who forces you to buy a piece of property or constantly imposes his decisions on you, you should let go because this type of mentor is looking to make profits on your investments.
The mentor should be specialized both in terms of the type of investment and location. A specialist in a particular location is knowledgeable on the key areas, the laws of investing and the problems areas of that location.
So, choose wisely as your choice of a mentor can make or break your investment career.