ShortSaleWealth.com

I just had a question from a new investor that I thought was worth sharing. His question was, “Shaun, I’m able to work with a local investor where I’m from that is willing to mentor me through my short sale business. Why should or shouldn’t I go this route?”

There is no question that having a good coach and mentor is an excellent tool to have in your toolbelt. We all need to learn from someone that is far more experienced than us in whatever it is we’re trying to accomplish. What I can tell you though, is that it’s crucial to make sure you have the RIGHT mentor. You can do this by asking him a few questions….

How long has this person been investing in real estate?
How many deals has he/she done?
How many of those have been in the past 12 months?
How much is his/her average profit per deal?
How many of them have required using his own money or credit to make work?

Why is he willing to help you? (What’s in it for him?) This is VERY important since most people that have enough experience to teach aren’t willing to do so with just anyone, nor for free. One thing I’ve learned over the years is that the last thing you need is in your real estate business is “free” advice.
You always want to make sure you’re getting advice from someone who is qualified to give it. I know a family counselor that is a good friend of my family’s. Her family life is more messed up than anyone else I know. And here she is giving other people advice on how to fix their family.
If you have the opportunity to be mentored by someone who is qualified, by all means, that is a blessing. Just make sure that person is qualified to do so. If they aren’t already making at least 5 times what you are making, or have already “been there and done that” with whatever is that you’re tring to accomplish, they’re not the right person.