Before we talk about how to get a mentor for house flipping, you should ask yourself whether you need a mentor or not?
And if you need a mentor, what are the reasons behind it?
Are you in need of a mentor?
The answer is “Yes”.
But this is not compulsory. Having a mentor is “optional” or a “luxury”.
Sure, a mentor helps you along the way and the fact that most house flippers, especially the successful ones had mentors indicates the importance of an experienced person to guide you. But that doesn’t mean you cannot go ahead without a mentor. It is better to have a mentor but not a must.
Also, it is better to slip every once in a while and make mistakes because these mistakes will take you a long way. Besides, it will cost you a fortune to have an experienced pair of eyes on you. So, the decision is yours. If you have no problem spending a few grand on experienced mentors, having one will bring nothing but higher chances of success.
Now, here are the 2 most popular approaches to having someone mentor you.
1. Approach them with knowledge
If you go to an experienced real estate investor and directly beg them to be your coach or mentor, chances are you’ll return empty-handed.
Before you go and ask them to be your mentor, make sure you have enough knowledge to bring their attention to yourself. Make them feel they are not working with a complete amateur. Show your value and explain what you know properly.
A great way to show you have done your homework is asking educated questions. These questions should give a vibe that you are not someone who is wasting their time. This is a way to show your passion and appreciation to investor.
2. Make sure they are getting something from the arrangement
If you think only the honorarium would impress the investors and persuade them to be your mentor then let me pop your bubble.
Almost all the successful house flippers want good deals and if you can bring them the good deals that they would want to get their hands on – you might just get the chance to impress them.
You can start this by getting them wholesale houses. Begin getting a few deals that you can send along to the investors in your general vicinity.
Finding these experienced and successful experts is the thing that you will do as you are searching for buyers for your wholesale deals.
Only if you can satisfy their quench of good deals, you might get the chance to get someone to mentor you.
The first decision you need to make is whether or not you need a mentor. Once you made up your mind on the fact that you need a mentor, you have to decide which approach you want to take. Whatever you decide, make sure your intentions are clear to the potential mentors.0