Real estate investing can unlock financial freedom and allow you to break away from the typical 9 to 5. You can choose how many hours you want to put into it and with systems and a good business model, your earning potential is only limited by yourself.
The problem is getting started.
Real estate investing doesn’t follow your typical start-up business structure.
There isn’t a universal playbook for you to go off of because there’s too many variables that makes the business model for every single investor different.
This ultimately makes it more difficult to just figure it out on your own and be successful, without it taking you years to scale your business.
Because of this, real estate investing is a profession that thrives when you have a mentor or coach to guide you along the way.
They’re able to help you:
- Figure out your 1 year, 5 year, and 10 year goals
- Determine how to accomplish those goals
- Come up the best approach to lead generation
- By guiding you through taking calls and going on buy appointments (including making offers)
- When you aren’t sure how to approach a situation with a buyer/seller
- By providing recommendations for vendors that they’ve vetted
- Analyze repairs and bids for rehab projects
- With much more!
To put it simply, the deeper you get into the business, the more questions you will have. Your mentor or coach will help guide you until you feel confident in your choices.
It’s common for people who are contacting a real estate investor to receive a discounted offer to be going through a tough situation. This might make for title issues that delay or complicate the closing which can be overwhelming for someone without a mentor.
So how do you decide who your mentor should be?
You want to make sure that whoever you decide has a business model that aligns with your business ideals. If they know your market, even better!
Look into the amount of support you’ll be receiving and make sure they’ll be able to help you strengthen your weaknesses.
By doing so, you’ll be able to shorten the length of time it’ll take you to get deals and cut down on your learning curve.
It’s a big decision on whether or not to try to figure it out yourself or pay to have a mentor to support you and give you the jump start to start doing deals fast.
Whatever you do, remember that you’re going to be told “no” more than you’re told “yes” when you’re going on appointments so it’s important to have a solid support system so you don’t get discouraged because it doesn’t take many deals for your profit to become substantial.