According to many successful business leaders, having a career in the real estate investment industry can be a lucrative employment choice - hence the reason why so many people in business are shifting their attention towards the real estate industry. However, since this industry is constantly changing, there are a lot of things you need to learn about this area of business before pursuing it.
Many inexperienced real estate investors tend to seek advice from professional investors in the form of mentorships. But since the real estate industry is growing rapidly, it has become impossible to find an investor worthwhile.
This is where you should consider looking up famous real estate investors, like Lloyd Segal, who are the real deal and have all the qualities of a mentor you could ask for.
Lloyd Segal is a revered real estate investor, mentor, national public speaker, and the President of the prestigious Los Angeles Real Estate Investors Club. Initially, he started his legal career in 1977 as an attorney who specialized in entertainment law, with an emphasis on music performers and recording artists.
After receiving many rewards for his exceptional law work, he decided to focus more on his passion for real estate and indulged in its activities. He started a real estate firm with an attorney, Richard Sablowsky, 'Segal & Sablowsky' where they spend dealing many cases of high-profile Chapter 11 bankruptcy cases that involved multi-million dollar real estate projects.
After a while, he wrote a book, 'Stop Foreclosure Now in California; Save your home if you can – Save your credit if you can't' in the memory of his late business partner. And it was through this book that he found himself in demand as a guest speaker at various real estate groups, industry events, and service organizations. He also started buying distressed multi-million dollar properties in Los Angeles County where he rehabbed them and either sold them or flipped them.
It is people like him that know the ins and outs of the real estate industry, making them the ideal mentors you can look up to. Moreover, since there are others mentors like him out there, Segal has shared some tips to help aspiring real estate investors to seek the guidance of all kinds of mentors and find the one that best works for them.
Know What You Want
To find the perfect investor, you need to first indulge in a little bit of self-reflection and find out what you want to accomplish as a real estate investor.
Do you want to compile an income portfolio of various rental properties? Do you want to flip or sell a home? These are some of the things you should consider before approaching a mentor.
Assessing the Mentor's Accomplishments
If you are going to spend your precious time learning from a mentor, you need to be sure that they are worth it. And what better way to find that out than by looking at what your potential mentor has accomplished so far.
Take a good look at their abilities and ask yourself if you would be content with learning skills like that for your own investment needs. Once you feel satisfied with their work and have gotten to know them to the point that you are sure they are someone you can learn a lot from, that is when you seal the deal of making them your mentor.