Monday, August 8, 2016

Bonus: Investing In Real Estate – Building the Right Team: Mentors & Education

Ask any successful real estate investor and they’ll be sure to admit that they haven’t invented the wheel. They have taken ideas and concepts from other landlords and incorporated them into their investing business. The learning curve is much easier when you aren’t starting at square one.
Why do I need a mentor?
One of the best ways to learn the tricks of the trade is to find a mentor who is a successful real estate investor.  It's often that successful landlords enjoy talking real estate and will be happy to share some info. Pick their brain. Even if you take a few concepts, or learn to avoid a few mistakes over time, they can make you money or save you big money long term.
How do I find a mentor?
The best way to find a mentor, or like minded real estate investor, is to network. Look to see if there is some sort of real estate investment club in your local area. Talk to your realtor or other professionals on your team to see if they know of anyone they can refer you to. Networking is key in any business and having successful contacts can very much help you investing business.
What else should I know about staying educated?
Besides having a mentor, it is important to keep investing in yourself as a real estate investor. Continual learning will improve your understanding of the business and keep you sharp. There are numerous books on the subject, online classes, in-person seminars, and of course, blogs (like this one ) that have lots of information to keep you up-to-date on what is happening and what you need to know in your market.
Don’t be lazy. Aim to improve yourself continually and your investment business will thrive. Readers, do you have a mentor? What do you do to keep continuing your real estate education?

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