I’m a beginning Investor looking for an established Real Estate Investor to help me learn the ropes. I’m not looking to get my feet wet…I’m wanting to dive right in. My immediate main focus will be in the foreclosure market. How should I go about finding a mentor. I am open to any and all suggestions.
Tom, I always cringe when I see a new investor wanting to break into real estate via foreclosures. You’re jumping into a shark pool. And your life vest needs to be filled with cash. Lots and lots of cash to be buying foreclosures.
I’m not trying to rain on your parade. But I think that foreclosures have a high risk to reward ratio, and most n00bs aren’t comfortable with that. Be careful, is all I am saying. There are less risky ventures with which to invest in real estate. Good luck!
Tom- I found my mentor on Craigslist under real estate services. Email those who post that they buy houses fast or stop foreclosure. Be upfront with them and tell them why you contacted them. Most investors are always looking for a good birddog and if you can provide a value to them by way of bringing them profitable deals, they will likely be more receptive to giving you insight in the business. Keep reading the posts on this site as well. Between the two you should be off to a good start.