The Power of Having a Mentor

 Many people in today's society like to adopt the do and learn method on their own. They do not like to be told by others how they should do something. However, this is not necessarily the smartest or the most efficient way to getting the outcome you desire. What would be a better way then?

 
Getting a Mentor!!
 
A mentor is someone who has more experience than you do in a particular field. The people who embrace having a mentor can make all the difference of them having average success vs. outstanding success. But what can a mentor really do for you?
 
More likely than not a mentor is someone who has the level of success you are aiming for. These individuals can help you to navigate the path you are on and can assist you in identifying future road blocks before they happen. How? Because they probably have hit these same road blocks already and can draw on their experience to help you watch out for them.
 
A mentor will be there to both challenge and motivate you at the same time. When you have questions, you will have someone who can answer them right away. They may even be able to provide you shortcuts to problems, as they have perfected the method of getting past them.
 
If you don't already have a mentor, it may be a good idea to find one who is where you see yourself in the future. These are people if you make their time worth while to help you and not waste their time, they may even use you to pass on their legacy to.

Wholesaling for Quick Profit

There are many different techniques available to investors in Real Estate. A few of them can even allow you to control the properties without even owning it. That means you are making money on properties you are not even on title for.

One of these strategies can net you into the tens of thousands per month. We call this technique Wholesaling. Most people think, when they hear the term wholesale, it is about getting a retail item on sale that is close to what the retailers pay. Yes it is similar in concept. You are essentially getting an accepted offer on a house below market value. In many cases these properties from Sellers who are really motivated and the houses themselves sometimes are in need of a little TLC or possibly in need of a complete overhaul.

So how do you control these properties without owning them? With the process of wholesaling, you as the investor will go into the negotiations work out the terms of the offer to purchase with the owner. Once you have submitted an offer and it has been accepted by the Seller, you have effectively tied up that property to you for the length of time of the conditions.

From here you would need to have developed your database of investors who are looking for the type of property you have under contract. If you have an investor who would like to take over the deal, you can assign the contract over to them. Of course when you do this you will charge a fee to assign that contract. This is where you make your money as a Wholesaler. And this assignment fee can range in price depending on how much equity you get the in property on the buy and how much your investor is willing to pay for it.

With this strategy you can put in as many offers as you want on properties. As you assign them out, you will generate your income. Now this technique in not only limited to just fixer upper houses. Any type of property can be wholesaled. Basically you will be getting paid to facilitate and set up deals. So it is time to go out there and start making offers. You are not doing this business unless you are making offers.