How did we get momentum in real estate and how do we maintain that momentum today?
I will never forget the first meeting Alex and I had with a “real” investor. Alex found him by cold calling “I buy houses cash signs” in the neighborhoods we were working. We were so excited to have a sit down with a legit investor and I am pretty sure it showed (mind you we were 23 & 24 and knew almost nothing about real estate). Little did we know that this moment would be the turning point in our infant real estate careers. We originally went in there to grow our buyer’s list, but we came out with a much more important resource, a mentor.
As you know, Alex and I left our jobs two years ago to jump into the crazy world of real estate full time. We had no experience and barely enough money to live. But 8 months later we had a whole team with us, were on our 6th wholesale, and were purchasing our first solo renovation. It seems as though we hit the ground running with a well thought out plan and never looked back. The road was a lot rockier than that, and it is not a stretch to say that CC Solutions would not be here today without the various mentors that we had along our 2 year journey. Every time we are stuck or in a jam, one of our mentors have helped us get through it. We owe all of our success to our mentors.
That first mentor did not wind up buying any properties from us. But he did bring us into his circle and gave us a trove of knowledge. Not only did he teach us a great deal, but he motivated us even more than we already were. He lit a fire under our ass when we needed it. He challenged our assumptions. He pushed us to get better. He set us on the path that has led us to where we are today.
To this day, CC Solutions and I use mentors to push ourselves to new heights. When we have issues or questions, we sit down with this mentors to pick their brain and get their advice. This cuts our learning curve dramatically while also lowering the cost from mistakes. This is why we have been able to keep our momentum and grow from $410,000 last year to $6.5 million this year.
How do you get mentors?
Paid coaches are good and will definitely help. We used paid coaching in the beginning to get us started. But we have found that our best mentors are local investors who want to help you. Mentors who feel like they have a stake in your success. This is how we find local mentors:
Go to networking events and look for the top people in the room. Ask to buy them coffee and pick their brain. Most usually take you up on this and will be glad to share what they did to be successful.
Cold call some “I buy houses” signs like we did. Explain you want to wholesale properties and would like to meet to learn what they look for. If you meet and connect, you just found yourself a great mentor.
Bigger Pockets can also be a great place for finding local investors as well
The most important part of finding a mentor is to check your ego at the door and learn! Don’t be insecure that you are inexperienced. We would literally tell potential mentors, “ We know nothing and want to learn from you so we can be like you some day.” You have to be willing to admit you don’t know the answers and be open to what they have to say.
There it is. That is how we gained momentum in the beginning and continue to today.
If you want to grow your business, go and find mentors today. You may build once in a lifetime relationships in the process.