How relevant and important is real estate mentorship? When should it be sought out? What should real estate investors look for in a mentor?
While mentorship and apprenticeship may not be as common as it used to be, nothing may be more important in the real estate investment industry today. Check out the biographies of any of the highly successful historical figures, billionaires, serial entrepreneurs, legendary investors and real estate moguls that inspire you and you’ll find that they all have had mentors. The most successful investors recognize that having a mentor is not just valuable, but extremely critical to maintaining success and reaching their full potential.
Mentorship shouldn’t just be left for later either. That is, unless you are really fine with struggling for the next few years and procrastinating on realizing success, greater success and easier victories.
Mentorship is about getting the right plan from the start, avoiding costly pitfalls and lengthy detours, getting a second opinion to ensure you are on the right track, benefiting from having an accountability partner, fast tracking to goals and going bigger than you imagined.
There are many forms of ‘mentorship’ available to real estate investors. Books, online real estate forums, blogs, podcasts and case studies can provide anything you may need. Even attending seminars and events and following ‘mentors’ on social media can introduce you to a proven system.
Of course, those really serious about winning and going big in real estate investing recognize that receiving mentorship in the form of real estate business coaching can be even more powerful and advantageous. So what should real estate investors and business owners be looking for in a coach or mentor?
There are many business, sales and self-development coaches out there which are incredibly good, but it’s obvious that there are additional advantages to be found in finding a mentor with real estate experience and knowledge of the industry.
How long have they been in real estate, business, coaching? It’s easy for anyone to create big results and a lot of noise for a little while. The true test is how long they can keep it up. More than that, you’ll absolutely need a mentor that has been around long enough to live through complete real estate cycles and know how to survive and thrive in all of them.
One of the most underestimated or over looked qualities in a coach is diversity. Have they experienced success and have knowledge of more than one market, niche or strategy? If not, you may never know if they are only promoting a certain agenda because that is all they know or if it is really the wisest most based upon a broad knowledge base.