The best decision that I have made over the past ten years was to find a real estate investing mentor. Even though I've been in this business for many years now and have had several different mentors during that time, I plan on continuing this practice until the day I day. Let's face it. Even though I know a lot about real estate, there will always be someone out there who knows more than I do. 

Not all of my mentors have been great ones. While some have been very good throughout my career, the bad ones were concentrated in the early years, when I didn't know what to look for. Sometimes it is difficult to tell what is hype and what is substantial when you are just starting out. 

However, since I've learned a little bit, I gotten the chance to work with some of the best in the business. Because of them, I haven't had to make as many mistakes because I was working solely on my own. In my opinion, the good mentors have sped up my success. 

Steps To Take To Connect With A Good Mentor

When you meet a potential mentor, make sure they are still active in the field. Retired former real estate professionals who claim that they were so successful that they no longer need to buy and sell properties tell a good tale. However, a true entrepreneur is never truly able to get out of the game. Even if they are retired, they should be staying active by doing at least a few transactions each year. 

Check with the locals before you broaden your search. For example, you can contact the Building Contractors Association of Southwestern Idaho to find out who is keeping the busiest. The office staff knows who is on the move and can let you know who might be interested in talking to you, 

If you can't find a local mentor, start looking elsewhere. Keep in mind that a television guru who is hawking his expertise to millions probably won't have the time to deal directly with you. Stay away from programs like these. Mentoring should involve one on one discussions and interactions for it to have any value. 

To build a relationship with a potential mentor, you can head out on the Internet to real estate blogs. At biggerpockets.com, they have a forum that lets you filter through the participants. This is a great opportunity to find someone who is closer to your area. 

Pause Before You Make A Commitment To Your Mentor

Don't get snowed by the excitement of finding a potential mentor. Take the time to ask them a series of questions first. For example, ask them about former students and which types of deals that they generally like to do. Follow through by calling their references to make sure that they are legitimate and have something to offer. 

In addition, put them through the property test. This involves getting the addresses of some of the buildings that they actually own. This is proof positive that they are who they say they are. If they don't pass this test, then get out your running shoes to end the interaction quickly. 

Brand new investors often find it difficult to tell the difference between a con artist and the real deal. Not knowing the business actually makes you a potential target to unscrupulous individuals hoping to make a quick buck off of your will to get ahead. Being forewarned, you can look for the signs. And, if you are in the Boise, ID area, I am more than happy to answer your questions and even possible be a mentor candidate for you in the future.