Ready to learn how to invest in real estate but feel lost on how to spot the qualities of a good mentor? In this post I want to break down the most critical qualities a good mentor will have so that you can invest your money well! There is nothing good about wasting your money on a crappy investor, or in someone who will only drive you crazy.
So, buckle up buttercup because we are digging into the top seven most important qualities to look for in a good mentor!
7 Critical Qualities of a Good Mentor for Investing
I know how eager you are to grow your income and get your finances moving in the right direction. And, in a perfect world you would be able to just trust any guru on the market to help you to achieve your goals. Sadly, though, we don’t live in an ideal world…not even close. There are a lot of bad apples in the real estate world. And I want to help you to avoid the headache and heartache of a bad match.
Let’s get to it!
#1 Must ACTUALLY Be an Investor
Experience is CRITICAL when it comes to mentoring. Old investing experience is not the same as someone who is still going strong as an investor. I know that there are some things that never change, but there are a LOT of things that do. So, for that reason I believe that truly good mentors are people who still actively invest and make deals. It is never a good thing to work with someone who wants to teach you something that they do not have real life experience in. Or, their experience is ancient! Always ask about their current investing deals and what they have going on in their own investing lives.
#2 Focused on Your Financial Growth Before Their Own
Not all mentors are created equal. And, the amount of commitment that you get from them will be directly related to the investment you make to them. I have several levels of mentoring that I do. Most do not have a shared-profit, but on a rare occasion I may work more personally with someone and charge more for that service. However, I love to provide options for my ladies because not everyone can do that kind of mentoring investment, and that’s ok!
My focus is to help YOU to grow your money, not just to grow mine.
And, that is what I think every good mentor needs to have as their primary focus – YOUR growth.
#3 Commitment to Helping You Achieve YOUR Goals (not boosting their ego)
I interviewed one of my FDDF Plus ladies a while back who did everything differently than I typically do. In fact, she basically went against the basic tenets of my real estate investing teachings. But, she did her homework and made some serious money, so I am thrilled for her! Not every mentor understands and accepts this, though, and that is a problem. A good mentor will support you in achieving your goals, even if it means they need to check their ego at the door. The goal is for YOU to succeed, not to make them look good.
#4 Available to Talk Things Out with You
While a mentor does not necessarily need to be available every hour of the day and night, a good mentor will be available to talk with you regularly. Whether they set up a plan through Facebook groups or messaging chats, contact is key. You may even be connected with other people going through the mentoring, too! Whatever the plan, ask to make sure that there is more than just the weekly one hour chat with your mentor. You are going to have questions, so make sure that you will be able to ask them and get answers!
#5 Upholds Ethics and Moral Integrity
While we all want to make money, some mentors are willing to sacrifice their soul in order to make it. That is just not okay. When you choose a mentor they need to be someone who you trust and believe is telling the truth of the time. And I mean the TRUTH; not a sly, side-winding version of the truth.
The way I see it, the more direct and upfront a person is with the hard stuff the more they can be trusted with the little.
If you plan to hand over your hard-earned cash, make sure you will learn methods that will sit right with you! You do not want to feel dirty and underhanded as a new investor (or a seasoned one…). Investing is something that should make you feel so good because you know that you are contributing something positive to the world! My motto is to always tell the truth because then you don’t need to remember who you told what to. Find the mentor who you know you can trust, even with the tough stuff. That’s the one who will help you to become the best version of yourself!
#6 Willing to Push When You Need It
Real estate investing is as much about mindset as it is about know-how. And while it might be really straight forward when it comes to what actions need to happen to get a deal, it is not always so cut and dry with emotions. I understand how messy it can be to feel fear and take action anyway, but sometimes you might need a push to get through that little fear bubble!
That is why you need a mentor who is willing to give you that push when you need it.
Not only that, but they also need to know how to be a cheerleader for you when you KILL IT!!! Because you are going to have both sides of this coin: the successes and the struggles. That’s why this is one of the critical qualities of a good mentor. Your mentor needs to be able to help you with both sides of the journey.
#7 Humble Enough to Learn New Things
One thing that I love is when I learn something new from my ladies. Y’all I may have been doing real estate investing for a whole lot longer than some people, but I do not know everything. And, I don’t pretend to. I still learn new things from the ladies I work with and it is awesome because I get to grow more, too! It is so fantastic to watch the lights turn on and see things firing in my ladies when they really get it! And, that is the same joy I feel when I learn something from them, too. I believe this is important and definitely one of the top qualities of a good mentor.
Don’t Waste Your Time with a Crappy Mentor!
It is okay to be picky. First, you’re a lady so you are allowed to be picky and change your mind. But, second, this is an important choice for you to make and you should take it seriously. The qualities a good mentor has will help pull things together for you and your business, rather than tear them apart, so partner with someone who you trust and want to work with. If you do not feel good about teaming up, don’t do it! Simple as that.
Not every guru out there will be a good fit. You need to know what your goals are, as well as your values to get there. So, take some time to figure out those things and then lean into the process to find a great mentor for your needs.
My FDDF Plus ladies are incredible and I am so humbled and honored that each one of them has chosen to work with me to help them to achieve their goals. Every week I am so incredibly amazed at what they do! It’s a great privilege to be part of their story. And every mentor needs to feel that way, too.
Don’t cut yourself or your dreams short by working with someone who does not deserve your time or money. Your dreams are worth being picky!