21 Feb INVESTORS’ CORNER: The Investing Mentor
I am a big believer in always seeking to learn from others with more knowledge and experience. Mentorship is probably one of the best ways to excel in the practical knowledge of just about anything. When it comes to learning how to invest in real estate successfully, having the opportunity to be personally mentored by another more seasoned investor is absolutely invaluable. After all, they have already been there and done it, learned the ins and outs, experienced the ups and downs, walked away with the big checks and also stepped in piles of pooh as they learned about the good, the bad and the ugly. Hindsight is always 20-20.
Being able to personally learn from another person’s wisdom, experience and hindsight and to hear their perspective as you are about to pull your own first trigger or two can save a newbie investor years of heartache, regret, time and money.
When I became passionate about becoming a successful real estate investor about six years ago, I knew I needed to find someone to personally help me figure it all out. It wasn’t enough for me to cram my head with books and webinars and listen to real estate gurus in the early morning hours. I began a quest for a mentorship program to help me find my way. Once I found one I believed in and felt could help me, I also found that the cost was quite high. Convincing my husband to allow me to spend our money on this was not easy. But when he saw that I had a fire in my belly, he finally agreed to let me invest our funds in a mentorship program. I can say six years later after seeing my annual income increase five-fold since then, taking the plunge to invest in a good mentoring program for me was one of the best financial decisions we have ever made.
Having someone there to walk me through my first real estate purchase, helping me evaluate the deal and negotiate with the seller brought me so much more confidence than I could have mustered up on my own. Before I was mentored in real estate investing, I had been taking night courses for several years while working in the business world. What I got out of those long and laborious night classes doesn’t compare to what I received for my six-month mentorship program. And I love doing what I do now to make money, which wasn’t the case before. Learning in a college setting is the traditional way; it’s the established, acceptable method to try and advance a career and increase a salary in the business world, while mentorship is a hands-on, real-world, one-on-one personal learning experience that has the potential to change a family’s destiny. I for one, am glad I chose the latter.
Susan Jensen is the Executive Director of the Metrolina Real Estate Investors Association, which provides education, mentoring, and networking for real estate investing in the Charlotte region. She can be contacted at susan@MetrolinaREIA.org. For more information, visit www.MetrolinaREIA.org.