Give and Gain Through Mentorship
WHAT YOU CAN LEARN BY BEING AN REI MENTOR
by Jeff Pepperney, Real Property Management
A s a successful rental property investor, you have accumulated a wealth of knowledge and experience. While sharing that knowledge is a great way to help others, becoming a real estate investing mentor holds great benefits for you, too. As a mentor, you can add to your knowledge in new and exciting ways, as well as keep your investing skills sharp. In what follows, we’ll take a closer look at what mentoring can offer real estate investors in all stages of your career. Although you may view mentoring as only benefiting the mentee, it can help you as an experienced professional to continue to build on your success. For example, you would need up-to-date knowledge about many aspects of the single- family rental property market. Staying current on these aspects will help keep your investing from becoming stagnant, as well as strengthen your leadership skills. Furthermore, when you teach a less- experienced investor a new skill, you help solidify what you know and keep
your skills sharp. You may also discover that mentorship results in tangible benefits for your investing process. As a mentor, you will be seen as a leader and an achiever in the real estate rental industry. As you demonstrate your willingness to help others, you may find that others develop a new level of respect for you. You may find that others are more willing to assist you and to share new opportunities with you. Finally, becoming a mentor could change not only your mentee’s life, but also your own. When you challenge your mentee to learn and operate at a higher level, you help them gain confidence and spur their professional growth. You may also discover a wealth of new experiences and challenges of your own, some that you couldn’t have guessed would come your way. In the process of helping others accomplish their goals, you may discover new ways to arrange your own life and work processes. It might seem counterproductive to take a less experienced investor
in and help them learn how to do what you do. Other investors are your competition, after all. However, by creating strong beneficial relationships with mentees, you could discover that you now have someone more likely to share investment deals and opportunities with you, thereby increasing the number of potential investment properties to consider. Knowing your system and standards, there’s even a good chance that those deals will have already been carefully researched to your satisfaction. You can do a lot to encourage this cooperation by sharing surplus opportunities with your mentee, as well. By becoming a rental property investing mentor, it is possible to gain far more than you ever thought possible. While you teach, you continue to learn, and to keep yourself at the very top of your game while giving others a hand up. There are very few true win-win situations in real estate investing. Mentoring others is definitely one you shouldn’t pass by. •
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