01 Aug I read that the only people who know anything about real estate investing are actual real estate investors, and of those investors, only a handful are actually good enough at it to offer good advice. Thay being said, where would a kid like me find a good real estate investing mentor?
I'm just a 20 year old who has the pipe dream of investing in real estate one day. I've learned over the years that I'm an "obliger" which is a term that basically means that I am super good at doing what other people expect of me, but I don't do anything that I expect of myself.
Translation: all of my goals are simply pipe dreams, even the simple ones like drinking water every day. Anything that SOMEONE ELSE asks me to do, though, I'll do it in a heartbeat, and chances are I'll do it really really well. I thrive in work and school environments where expectations are layed out clearly in front of me for me to meet.
So I figure if I ever want to make my pipe dream of investing in real estate anything more than a pipe dream, I'll have to find a mentor to coach me through it.
I had someone I thought could do this for me. He's a business real estate broker that I've been working for over the summer. He's convinced my to get my RE license, and he's been giving me other types of advice, too, like about building my credit and what my first investment should be. However, his advice on credit cards made me take a step back. He told me that to build my credit I should only pay the minimum on my purchases because I have to carry credit to build credit. My parents had told me the opposite, that when I get a credit card I should be careful to pay back my debts in full every single month. I told him what my parents told me, and he launched himself into a lecture about how building credit is a privilege that comes with a price, and the price is paying interest on your credit card purchases.
Naturally, I took to the internet and discovered that that simply isn't true. You CAN build credit paying your balance in full, and that is the method that pretty much every single online source recommended. So then I questioned whether I should listen to my current mentor, get my RE liscence, etc.
Then I read the quote mentioned in the title on a real estate blog post. The blog specifically mentioned that no matter what they say, real estate brokers have no idea what they're talking about when it comes to real estate investing. So now, I feel like I'm back to square one when it comes to finding a solid real estate mentor. Do any of yall have any advice for where I should look to find real estate investors that might want to share some knowledge? Do yall have any stories about where yall found a worthwhile mentor?