The Perks of Hiring a “Homegrown” Real Estate Mentor

One of perks of having a real estate mentor by your side is that you’ll never get bored with the real estate investing business. A mentor can provide you with companionship and you’ll feel safe and secure knowing that you won’t be alone when the going gets tough. As people used to say, doing something nice feels better when you do it with a trusted friend or companion.

Choosing a trusted companion when investing in real estate, however, is not really that easy. With the growing number of veteran real estate investors who wish to earn extra income by mentoring greenhorns, it is quite difficult to find the perfect coach who will cater to your learning needs. In addition, there are phony real estate gurus who take advantage of the inexperience of beginners by ripping them off.

If you’re considering hiring a real estate coach, one of the best ways to ensure that you’ll get the quality of education that you deserve is “to go local.” Here are the reasons why you should hire a locally based real estate mentor instead of spending thousands of dollars on a big-time coach:

1. If you want to focus on your real estate investing business in your own “backyard” rather than buying investment properties in other cities or states, a locally based mentor can help you in this regard. A “homegrown” coach knows the local real estate market well and he or she can provide you with insider tips and other valuable information.

2. A locally based mentor is also the best person to ask regarding the real estate laws in your city or state. Such a mentor is extremely handy, especially when you want to try an unconventional real estate investing method but don’t want to run into trouble with the authorities.

3. You can sleep soundly at night knowing that you can meet your mentor anytime of the day. For some real estate investors, having the knowledge that their coaches are living just a few blocks away gives their self-confidence a boost.

4. A locally based mentor can help you build your real estate investing team. He can give you recommendations on which contractors to hire or hints and tips on where the find the best local hard money lender.

But before you pick a locally based real estate mentor, see to it that you have conducted a research on his or her background. Be sure that the coach you’re going to hire is indeed capable of helping you become one of the best investors in your city.

Do want to know what it feels like to be mentored by some of the best real estate gurus in the country? Then visit www.REIWired.com.

Real Estate Coaching: Separating Wannabe Gurus from Good Mentors

Even though teachers can be a pill at times, you cannot deny the fact that you are indebted to these people. If not for them, you wouldn’t be able to get where you’re at right now. Because of the tons of homework and projects that they made you do while you were still in school, you learned how to better manage your time and deal with stress.

For real estate investors who refuse to get real estate coaching because they feel that a mentor may cramp their style or become more of a burden to them, sorry to say this but you’re going to miss a lot on your real estate investing career. Like a school teacher to his student, a real estate mentor can help you grow and become a better investor. And most of all, a coach can steer you to the right direction and significantly reduce your learning curve.

However, with the booming real estate investing industry come wannabe real estate gurus who want to make money off the inexperience of newbie investors. That being said, you have to exercise extreme caution when looking for someone who can guide you to the right direction and help you reach for the stars.

Listed below are some nifty hints and tips on how to separate fake gurus from certified mentors who can provide you the best real estate coaching services.

1. A certified real estate mentor is someone who actively invests in properties. He (or she) also uses the strategies that he is teaching to his students to make money in real estate. If you’re going to hire a coach, see to it that he does all these things and more.

2. Ditch your mentor if he tells you that he cares for your future but won’t follow up on his words. A good real estate coach is supposed to show you that he cares through his actions and not his words. If your mentor doesn’t do anything except from giving you lip service and make promises that he can’t keep, then you’re probably working with a wannabe real estate guru.

3. A fake real estate mentor constantly put his students down to make him look good. A good coach, on the other hand, inspires and motivates his students to do their best and to keep on trying even if the odds are playing against them. So if you’re going to hire a mentor, which one are you going to choose? The second one, of course.

Receiving a real estate coaching service from a mentor can make significant contributions to your career. However, you’ve got to choose the right person for the job. If you want to have an idea who that person might be, visit www.REIWired.com.

5 Real Estate Investing Tips for Newbie Investors

Generating huge returns by investing in real estate is quite easy as long as you know what to do. You don’t have to totally master the art of buying and selling properties just to earn huge profits. However, if you don’t know what you are doing, you might find yourself in deep trouble.

To help you become a prolific real estate investor, here are five real estate investing tips that you should need to know:

• Always remember the three golden words in real estate investing: location, location, and location. Two identical houses may fetch different prices if they are built in different locations as the price of a property is usually determined by the amenities in the area where it is situated. Therefore, if you are going to buy an investment property, ensure that it is located in an area where people are happy to live in.

• Don’t buy properties unless they are from motivated sellers. Motivated sellers are good sources of great deals. Because they are always in a rush to unload unwanted properties, you can buy real estate for pennies on the dollar.

• Don’t forget to do your numbers. Always evaluate a deal before you commit yourself. While you might be able obtain a property at a low price, it doesn’t necessarily mean that you can make tons of money out of it. Have a professional appraiser take a look at a house that you want to invest in so you can be sure that the property will indeed give you huge profits.

• Always have an exit strategy. This is probably one of the most important real estate investing tips out there. Before you buy a property, find out what are going to do with it. Are you going to rehab the house and sell it at a much higher price? Are you considering renting it out or wholesaling it to other investors? Make a decision early on to avoid being stuck in the middle of a deal.

• Have a real estate coach. Having a mentor is better than studying real estate investing techniques and strategies on your own. In addition, a coach can help you assess deals and provide you valuable pointers that will help you grow as a prolific real estate investor.

By following these real estate investing tips, it would be easier for you to make money in real estate. If you want to learn more, go to www.REIWired.com.

The Easy Real Estate Mentoring To-Do List

Real estate mentoring has helped many investors in finding out the dos and don’ts of investing. However, the task of finding the right real estate mentor can be daunting at times. In order to make things easier for aspiring investors, here are some pointers on what a person should do when looking for real estate mentors:

• Look at profiles and information about well-known real estate gurus. One of the first things that an aspiring investor should do when looking for a real estate mentor is to do some research. An individual can do some research by reading books and searching online about the person. Another way to search for more information is by reading and watching materials coming from these gurus such as videos and e-books.

• Ask for referrals from other investors. Aside from doing some research, another way that aspiring investors can use when looking for real estate mentors is by asking recommendations from other investors who have been around for quite some time. These people have already been in the industry long enough to know who gives great real estate investing advice from the ones that are just pure publicity and speculation.

• Contact real estate coaches personally via e-mail and ask questions. After doing research and getting referrals, it is best to contact a possible real estate mentor personally or via e-mail and social networking websites. This will enable an aspiring investor to ask questions to his or her prospective coaches. If a so-called mentor or coach just answers a possible student with mere sales pitches, then that is not a good sign.

• Follow different real estate coaches online. A great way of getting to know real estate mentoring professionals and how they work is through the World Wide Web. These days, both investors and coaches are bound to have a blog or a social networking page wherein they share their ideas to the world. Subscribing to blogs and following online profiles of these people help a lot in choosing the best person to go to for advice.

• Go to different real estate seminar sessions each week. Lastly, one of the best ways to determine if a real estate coach is a right fit to a wannabe investor is by seeing them in action. A lot of coaches meet students for the first time without any charge. This will help students know if a so-called expert is worth their time and money.

For those who want to find out more about real estate mentoring, there are websites that give investors tips on finding a mentor. REIWired.com has information and resources coming from successful names in the industry that are willing to share their knowledge people starting out in the industry.