I need a mentor . . .

We get request quite often from people looking for a mentor or a coach to help them get started in real estate.  We have looked at starting a mentoring program ourselves, but just can't quite figure out how to add it into our busy schedule. 

But then I look at all the gurus out there who have a mentor program.  For just $5,000 more, or $8,000 more or $10,000 more you to can become a part of a guru's mentoring program.  Now I have never been a student in a mentoring program, but I have been unwittingly conned into being a student in one of these very expensive mentor/coaching programs.

You see they come to town and do the free pitch at the hotel, sell you something small and get you to come to a week end event, sell you something bigger that includes a bootcamp, and then they rope you into the mentor program - these are usually people like Robert Allen, Russ Whitney, Robert Kyosaki.  Now I am not saying these things are bad, but just wanted to share some observations on how the coaching program seems to work from my side.

The student gives my office and I am assuming a bunch of different types of people a call.  It goes something like "I have a coach coming to town next wednesday and he/she has asked me to contact a few realtors/ mortgage people/ title companies/ etc and set up a time for us to meet.  I am building my power team and I wanted to find out more about how you would fit on my team.  Could we come in on Thursday about 2 pm.  I will need about an hour of your time."

Then the student and the coach and about 4 to 6 other students show up in my office.  All have their list of questions, who do you recommend, how do you do this, how do you do that.  It seems to me that I am doing the teaching and the coach is getting paid the big bucks.  So we don't take meetings with these students anymore.  I have yet to have a single one (and we have had a lot of these groups of coaching students through) to actually buy anything. 

No I take that back.  We had a coaching student who actually took action before the coaching week and bought a house from us in advance of the coaching.  The house cost about the same as the cost of the coaching and I know he learned a lot, I don't know if he ever rehabbed and tenanted the house, but he did get a lot of Kansas City connections through us.

So I wanted to give you some options on getting some mentoring for free, or at least for a more economical price that what the gurus want to charge you.

1) Join your local REIA Group:  Kansas City - rest of the Nation
2) If they have a quick start program or a fast start program, go through them asap.
3) Take advantage of all the teleconferences, webinars, workshops, etc
4) Figure out to a small degree what it is you want to do:  wholesale, rehab, landlord
5)  Buy a training program and / or attend a bootcamp (Always try to buy through the local REIA, they can usually get you the best price and free bonuses)
6) Utilize the messasge boards offered by the local REIA and or the Guru whose program you purchased.- and ask questions.  More on message boards in future posts.
7) Get in the game and get your hands dirty!