If you’re looking for a mentor to help you build your real estate business, then you’re in luck.
In this video, I’m going to share with you the role of a mentor and why it’s important for your success.
Transcript:
Tom Cafarella 00:00
I used to do a bunch of live seminars myself locally. And one of the lines that said every single time was, “The more you learn, the more you earn”. And it’s 100% true. And I agree with you. I think the first step is getting educated. I would highly advocate, you know, for anybody that can afford it, to join a coaching program, if you can. There are, there’s a lot of great ones, like Chris mentioned, there’s some that aren’t so great. But like, there are tons of great ones.
I would fuck join the mentorship program, like Chris said, get educated on YouTube, figure out what you want to learn about. And then, if it all possible, if you can find someone that’s a local expert, that you can kind of, you know, hook up with. And Chris, you did both. I mean, your story in the beginning, you hooked up with a local area mentor that gave you mentorship. And I’m sure you were learning at the same time. And I think that’s like that. Like he said, like, I think that’s the formula, especially in the beginning. And then of course, like you’ve got to then take action. But I think…
Chris Bounds 01:04
If you’re young in your career, you could work for an investor. Like that’s something else that I wish I did early on. I could have gotten to work with investors that are doing what- It didn’t have to be an investor, maybe it’s a hard money company. Maybe it’s an insurance company that focuses on real estate investments or multifamily. So, find that niche that you’re looking for, and go work with them. Get your real estate license and assume that it’s probably most of your audience right now.
You may already have that. Now, if you’re already have an established business where you’re doing 5, 10, $20 million a year, maybe that part might not make sense. But you can go back to the other thing where like you were saying, either join a mentorship program, get a coach, get them into or if you want to do it a little bit on the light side, it first costs just go to a couple boot camps. And go into one in October for multifamily. It’s one of the first multifamily boot camps that have ever paid for 200 bucks. And I know guys are in that program they are actually doing deals that are far less experienced than I am and in the overall real estate timeline. So, I’m like, “200 bucks, that’s nothing”.
Tom Cafarella 02:17 Oh, yeah. And it’s funny because like, I talked to people and they say, “Oh, wow”, like this mentorship, whatever, it’s a lot of money. And I look at it like, in real estate investing, there’s millions to be made, we’re not talking about making like a few $100. Even the higher price tag ones and you don’t have to be in a higher price tag one to statistic seed, but even the higher price tag ones, if you’re applying, you’re gonna get like, I mean 10 times ROI is probably too low. Like you’re gonna get you know, whatever it is 50, 100 times like what you spent, but even the lower- the prices of them obviously don’t necessarily reflect the value but like, I would do something if you could, and get around