As we’ve previously stated commercial real estate is a
growing market that has shown a lot of profitability. With that being said, it is not a market that
one can jump into blindsightedly. A lot
of people entering the world of commercial real estate need a mentor. Here are a few tips to take into
consideration when looking for a mentor.
One of the main things to think about is the geographic location
you are searching for. It’s important to
note that properties in Florida are going to offer a higher ROI than properties
in Iowa. Keep these thoughts in your
mind when you are considering an investment.
Another important thing to know is that you need to know the
market. If you are looking for a mentor,
their job is not to teach you from ground up.
It’s imperative that you have some pre-existing knowledge in order for
the mentor to elaborate and expand what you already know.
When you think that you have found a worthwhile mentor have
a sit down face-to-face chat with them.
A lot can come from an in person conversation. Although the internet is great for
communicating, meetings are the best way to let your mentor know that you are
serious about investing.
If you have a meeting set up with your mentor be sure to
have high value questions to ask.
Sitting down and asking them to ‘tell me everything’ isn’t going to get
you very far. Research goes a long way
in this field, and it will ensure that you and your mentor have a quality
conversation that is productive.
Keep in mind that mentoring isn’t something everyone wants
to do. Some people have the mindset of
‘oh I figured it out myself, they can too.’
Try and avoid these types of people, and don’t get discouraged when you
run into this personality. Keep learning
and researching your market, and eventually you will find someone who is
willing to help.
