• Do they invest for cash flow or appreciation?
    • Skilled investors invest for cash flow.
    • Skilled investors enjoy appreciation when it occurs.
    • Amateur investors hope for appreciation as that is often the only way they make money.
  • What are their exit strategies?  Skilled investors have multiple exits.
  • Do they have experience teaching?
  • Can they commit three full days to you? Plus, pre-work, plus follow-up?
  • Do they have a post mentorship follow-up plan for you?
  • Do they offer lifetime support?
  • Do they have success with multiple strategies in multiple markets?
  • Do they have success in creative financing and no-money-down deals?
  • Do they have contracts and paperwork for various strategies in multiple states?
  • What are their minimum criteria for properties?  Do they know and use metrics such as cash on cash return, gross rent multiplier, cap rate, debt service ratio, etc.
  • How many creative financing strategies do they know and utilize?
  • What is their plan to get you from earned income to passive income and then portfolio income?  Do they even have that plan for themself?
  • There are so many considerations (these are just a few) to account for when selecting a mentor with the skills, strategies, plan, and time to help you.  

 

Mentor’s Tip:  If you don’t make any mistakes (small mistakes) in life, you are not trying hard enough!

You are becoming empowered to evaluate a good mentor, which will help you with your mentor selection and screening.  The goal is to get the best mentor possible and help you exceed your goals and expectations.  The Investor’s Mindset is a considerable benefit you gain from investing your time with your trainers and mentors.  The books you read, the podcasts you listen to, how you spend your downtime, and the offers you make are all cumulative to help you succeed in your chosen strategies.  We never suggest you give up your existing hobbies and social outlets to pursue real estate investing. However, it is amazing what you can learn, implement and accomplish with well utilized and consistent 5 – 10 hours per week.