A real estate mentor differs from a real estate agent. A mentor should be someone who has already made it in the real estate world. While a real estate agent is someone who has learned how to get good property in excellent locations and at affordable prices.
As a beginner in the real estate industry, you should have someone you look after, someone who can answer your questions when you desperately need the answers.
A real estate mentor can be a family member or a friend with several years of experience as a real estate investor. Alternatively, you can search for successful real estate investors and befriend them. You can also attend seminars that talk about real estate investment.
Having a real estate mentor from your town or country is not compulsory. Instead, you can link with international real estate investors via YouTube videos, real estate blogs, webinars, and social media.
This post will show you how to get a good real estate mentor.
But first, let's see the benefits.
Benefits of Real Estate Mentors
You build a reliable network.
A network of people with common investment goals is good for everyone. An excellent mentor will help you get new contacts where you can sell or buy property. Within the network, you can get trending industry tips to help grow your real estate business. Therefore, you'll be among the first few to know about properties on sale or buyers. And those are very good insights to grow your commercial real estate business.
You'll develop professionally.
Remember, you need professional knowledge to run a complex real estate business. You should know how to handle mortgages, insurance, and other property-related expenses best. A mentor can help you learn or link you to a coach to help you know how to handle your business.
A good mentor will give you property industry insights.
Indeed, in every sector, there are secrets to success. So, a real estate mentor can give you tips to succeed. The good thing is it would have helped them before they showed you.
You could become partners.
In real estate, there emerges deals that require a lot of money. For instance, someone can be willing to sell a very excellent property at a good location. If you can't get enough funds to buy it, you can partner with your mentor and buy the property together with the help of an attorney.
It feels good when learning from someone who has made it in the same business as you. A mentor can lift you from a startup to a big enterprise. You only need to follow their proven guides to help you succeed.
Now,
How Do You Get a Real Estate Mentor?
Through Social Media
Social media has become the home of millions of individuals. People meet to have fun, exchange ideas, and sell products and services. For instance, on Facebook, some groups have people with common interests. So, you can search for real estate groups in Kenya and get multiple results. In those groups, people will post a lot about real estate. You’ll also learn who's the best in the industry, and you can inbox them to see if they could help. However, be careful not to land in the hands of fraudsters.
You can get a real estate mentor on blogs and websites.
One thing you should be good at today is reading. The more you read blogs and books, the more you'll get new ideas. So, be a good reader and google real estate blogs in Kenya. You can follow this blog to learn much about real estate, even if you are a beginner.
Most websites will also help you to get excellent properties at affordable prices. Always ensure you join the mailing lists to be among the first people to know about new offers and deals.
Through YouTube videos
YouTube is an underrated search engine, but it's the second biggest after Google. On YouTube, you can search for real estate investment in Kenya. You'll get multiple channels talking about how you can succeed in the industry.
Those channels can give you real tips to help you out. Again, the channel owners can coach you on what to do and when to do it. They are good researchers who will give you facts about the industry.
Walk around.
You'll see a lot of real estate investments from different people once you walk your neighborhood. Which flats seem to be doing good in the business? Can you see or contact the owner? If yes, you can start by inviting them for a coffee in town. If they agree, the next step will be seeing whether they can open up about their investments and what has made them successful. They may even be willing to share more, but don't take things so fast. They may think otherwise.
How about your landlord?
If you stay in a rented apartment, is your landlord a good person who can serve as your mentor? If yes, you can start talking with them about property investment. But be a trustworthy friend first. Otherwise, they may withhold information from you.
Your landlord can link you to good property agents who help you search for the best houses in certain locations.
Finally
Getting a real estate mentor should be the first thing to do once you realize your passion for property investment. Mentors can help you achieve your dreams faster since they will give you a blueprint to follow
Frequently Asked Questions
How do I get a local property mentor?
Try joining local Facebook groups and attending local seminars that talk about the real estate business. And you may as well meet your mentor there.
What should I ask my real estate mentor?
At least you were sure that the new mentor can really help you. So ask questions like
How long have you been in real estate investment?
Which strategy has helped you grow to the current state?
Do you have a property manager, and what takes do you assign them?
How long can I start seeing profits?
How do you deal with mortgage, insurance, and taxes?
With those questions, you can know the experience level of your mentor.
What does a real estate mentor do?
A real estate mentor's main job is coaching beginners so they won't make costly mistakes in the industry.
Do mentors charge money?
If it's mentorship alone, they don't charge since they are just helping you. However, you might have to pay for that information when it comes to consultancy about deeper real estate activities.
