How Different Kinds of 401K Rollovers Can Help Your Employees

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By Vista Capital Solutions

Figuring out to handle issues regarding 401K retirement plans can be particularly tricky for some people. When you own a company and offer this kind of benefit to your employees, you want them to get the most out of the experience. People use this kind of feature to save money for retirement, and they take it out of the income they’ve worked hard for. If you’ve hired a new associate who has a 401K with their previous company, then you want to offer them a way to roll it over to the plan that you offer.

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Consider New Associates

When you find a great new candidate to join your company’s team, you want to give them flexible benefits. Allowing them to do a 401K rollover from their previous company to the plan that you offer is a huge benefit. Sometimes, people can’t keep this benefit once they leave an employer and must find a way to roll their funds over to avoid hefty tax penalties.

Think About Former Employees

If you have an associate who chooses to leave your company, then they may have to perform a 401K rollover elsewhere. For example, if this person goes to work for a company that doesn’t offer a 401K plan to its associates, then they will have to find a place to put their account or pay taxes. By allowing your former employee to keep their money in the account after they no longer work for you, you will be saving them a large amount of their hard-earned funds. Check with your benefits provider to see how you can arrange this for former employees.

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Understand Other Options

When people want another option for their 401K rollover, they usually turn to an individual retirement account or IRA. As a business owner, it’s important to understand this option especially if you’re investing for your retirement. This option can help a person avoid the tax burden that comes with cashing out a 401K before the minimum age. If you have a 401K from a previous job and wish to put the money elsewhere, choosing this option is usually a good idea. Check with your local financial advisor to learn more about this process.

Understanding more about how to transfer from one 401K to another can help you make informed benefits choices for your employees. When you offer more options to your workers, they will be happier as a result.

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The Lock-In Effect and Keys to Success

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By Rick Tobin

There sure seems to be more bad news than good news these days about the state of real estate. During turbulent times like we’ve all seen in recent years, the most common first human reaction is usually denial or acting somewhat like a locked up “prisoner” with a frozen “deer-in-the-headlights” look in our eyes. Yet, this is exactly when we should stay focused on the potential opportunities more so than the temporary obstacles standing in our way.

As foreclosure filings continue to increase to an average near 50% higher than the pre-pandemic years (2019 and earlier), struggling homeowners and landlords will need to focus on solutions such as loan modifications, forbearance agreements, short sales, and quick sales for cash. As an investor in the near future, you will likely find more deals readily available to choose from if you know where and how to look for them.

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Some metropolitan regions like Houston have 56% higher foreclosure rates. Other places like Minneapolis/St. Paul saw +106% foreclosure rates in March. Nashville was +35% higher and Phoenix + 33% higher in May; Rhode Island was up 32% in May.

During the depths of the Credit Crisis / Great Financial Recession years between 2008 and 2013, California was hit the hardest with a -41% home price drop average from peak to trough. Nevada, Arizona, and Florida weren’t too far behind.

Some California home prices have risen as much as +41% over a period of just 18 to 24 months in recent years, so an equivalent -41% price drop is easier to imagine as some values may drop back towards 2021 levels.

The typical home today is about $80,000 higher than it was just two years ago. The average monthly rent payment today is more than $1,000 higher than it was in 2020. Middle-income first-time buyers are unable to afford 70% of homes. As California unemployment rates continue to rise at a faster pace than most other states (Big Tech layoffs, especially), it will be more challenging to continue making mortgage payments.

Rental Market Trends

Today, there are 65% more active short-term rental listings on Airbnb and VRBO (965,000+) than all homes listed for sale nationally (554,000+), as per Realtor.com and other sources. At some point, the vacant short-term rentals will become listed homes for sale or distressed properties due to higher vacancy rates.

Ironically, the founders of Airbnb originally used air mattresses to cover their own San Francisco apartment unit’s rent. Eventually, air bubbles go pop one way or another.

Rent Increases

The following metro areas have experienced the greatest year-over-year rental price percentage increases through May 2023:
Providence-Warwick, RI-MA (+17.44 percent)
Kansas City, MO (+13.20 percent)
Minneapolis-St. Paul-Bloomington, MN-WI (+8.97 percent)
Raleigh-Cary, NC (+8.05 percent)
Charlotte-Concord-Gastonia, NC-SC (+7.65 percent)
San Jose-Sunnyvale-Santa Clara, CA (+7.59 percent)
Hartford-East Hartford-Middletown, CT (+7.47 percent)
Columbus, OH (+6.81 percent)
Los Angeles-Long Beach-Anaheim, CA (+6.20 percent)
Riverside-San Bernardino-Ontario, CA (+5.97 percent)

Rent Decreases

The following metro areas have experienced the largest year-over-year rental price percentage decreases through May 2023:
Austin-Round Rock-Georgetown, TX (-20.76 percent)
New Orleans-Metairie, LA (-20.42 percent)
Las Vegas-Henderson-Paradise, NV (-10.57 percent)
Houston-The Woodlands-Sugar Land, TX (-8.42 percent)
Seattle-Tacoma-Bellevue, WA (-8.28 percent)
Cincinnati, OH-KY-IN (-6.49 percent)
Phoenix-Mesa-Chandler, AZ (-6.46 percent)
Birmingham-Hoover, AL (-5.98 percent)
Memphis, TN-MS-AR (-4.85 percent)
Oklahoma City, OK (-4.44 percent)
Source: Rent.com

Multifamily Trends in Southern California

Sales and prices for multifamily apartment buildings have started to really fall in Los Angeles and other metropolitan regions across the nation. Specifically within Los Angeles, the number of units fell 11% in the first quarter of 2023 as compared with the previous fourth quarter in 2022. More shockingly, multifamily apartment building prices collapsed by -37.5% year-over-year as per a report shared by NAI Capital.

During the same first quarter time period, the average sales price per apartment unit dropped by 18.4%. One major factor for the falling price and sales volume numbers for Los Angeles County was directly related to the Measure ULA “mansion tax” that affected both luxury homes and commercial real estate properties priced above $5 million as of April 1st.

While $5 million may seem pricey for a luxury home in Los Angeles or elsewhere, the same $5 million dollar price tag for a rather small multifamily apartment building is much more common.

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Strangely, both vacancy rates and apartment rents continue to rise together at the same time in many parts of Los Angeles and elsewhere. Average rents rose to $2,156 per apartment unit in Los Angeles, a +1.9% year-over-year increase.

Some regions of Los Angeles had more negative rent, sales price, and vacancy trends. For example, the first quarter numbers for these Los Angeles multifamily submarkets were more negative than positive and were as follows:

  • San Fernando Valley and Santa Clarita Valley: The average multifamily sale price per unit fell by -35.9% year-over-year while the vacancy rates increased by +22%.
  • San Gabriel Valley: The average sales price per unit decreased by -20.3% while vacancy rates skyrocketed by +32.2%.
  • L.A. Westside: The average sales price per unit fell by -9.5% while vacancy rates increased by +10.7%.

Historically, rising vacancy rates and rental payment trends are usually inverse to one another like a seesaw with payments falling as vacancy rates rise. We shall see how long this trend lasts.

A very high number of landlords haven’t collected a rental payment for two or three years either, especially in Los Angeles County. When will the foreclosure and tenant eviction rates really begin to accelerate and adversely impact both tenants and landlords?

The Locked-In Homeowner and Unlocked Treasures

There are upwards of 16 to 20 million vacant or distressed properties across the nation. Additionally, there are millions of distressed FHA mortgages alone. Many homeowners haven’t made a mortgage payment for more than three years just like so many tenants.

Loan modifications, forbearance, and loan forgiveness plans continue at near record paces across the nation. Lenders are not filing foreclosure as aggressively as they would have in years past, partly due to ongoing pandemic restrictions in place. This is a major reason why the national home listing inventory supply is so low.

Another reason why there are so few homes listed for sale is because upwards of 92% of homeowners with a mortgage have an existing rate at or below 6%, as per a study released by Redfin. Let’s take a quick look below at the fixed rate estimates for homeowners as of the first quarter:

  • 91.8% of mortgaged homeowners have rates below 6%.
  • 82.4% of homeowners have rates below 5%.
  • 62% of homeowners have rates below 4%.
  • 23.5% of homeowners have rates below 3%.

It can be rather challenging for a homeowner to consider losing their 6%, 5%, 4%, 3%, or even 2% fixed rate mortgage with a 30-year term and move to another home with a rate closer to 7% or 8%. As a result, it’s referred to as the “lock-in effect” because so many homeowners don’t want to lose their near record rate locks.

The market may change for the better or worse later this year depending upon a few factors such as follows:

First, will future unemployment trends improve or get worse. A loss of income is generally the #1 reason why someone loses their home to foreclosure.

Second, will lenders and loan service companies start to file foreclosure notices at a much faster pace than in recent years?

Third, will tenant protections in place be eased up or tightened? Most landlords are small investors who may be fortunate to own just one or two rental properties. After months or years of no rent collected, the landlords may be at risk of losing their rentals and primary home to foreclosure.

Your key to future success that unlocks your potential as either a homeowner, investor, or tenant is to focus on the positives and negatives while minimizing your risk and maximizing your gains. With the right mindset and guidance, it will be akin to a literal key that unlocks a treasure chest!!!

Rick Tobin

Rick Tobin has worked in the real estate, financial, investment, and writing fields for the past 30+ years. He’s held eight (8) different real estate, securities, and mortgage brokerage licenses to date and is a graduate of the University of Southern California. He provides creative residential and commercial mortgage solutions for clients across the nation. He’s also written college textbooks and real estate licensing courses in most states for the two largest real estate publishers in the nation; the oldest real estate school in California; and the first online real estate school in California. Please visit his website at Realloans.com for financing options and his new investment group at So-Cal Real Estate Investors for more details. 

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Pending Home Sales Shrunk 2.7% in May

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WASHINGTON, June 29, 2023 — Key Highlights

  • Pending home sales dropped in May, down 2.7% from April.
  • Month over month, contract signings decreased in three U.S. regions but jumped in the Northeast.
  • Pending home sales fell in all four regions compared to one year ago.

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Pending home sales shrunk 2.7% in May from the previous month, according to the National Association of Realtors®. Three U.S. regions posted monthly losses, while sales in the Northeast surged. All four regions saw year-over-year declines in transactions.

“Despite sluggish pending contract signings, the housing market is resilient with approximately three offers for each listing,” said NAR Chief Economist Lawrence Yun, “The lack of housing inventory continues to prevent housing demand from being fully realized.”

The Pending Home Sales Index (PHSI)* – a forward-looking indicator of home sales based on contract signings – dropped 2.7% to 76.5 in May. Year over year, pending transactions fell by 22.2%. An index of 100 is equal to the level of contract activity in 2001.

“It is encouraging that homebuilders have ramped up production, but the supply from new construction takes time and remains insufficient,” added Yun. “There should be more focus on boosting existing-home inventory with temporary tax incentive measures.”

Pending Home Sales Regional Breakdown

The Northeast PHSI climbed 12.9% from last month to 66.7, a decrease of 21.9% from May 2022. The Midwest index dropped 5.3% to 74.4 in May, down 23.5% from one year ago. 

The South PHSI decreased 4.4% to 94.4 in May, reducing 19.6% from the prior year. The West index lessened 6.1% in May to 58.4, falling 26.6% from May 2022.

About the National Association of Realtors®

The National Association of Realtors® is America’s largest trade association, representing more than 1.5 million members involved in all aspects of the residential and commercial real estate industries. The term Realtor® is a registered collective membership mark that identifies a real estate professional who is a member of the National Association of Realtors® and subscribes to its strict Code of Ethics.

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*The Pending Home Sales Index is a leading indicator for the housing sector, based on pending sales of existing homes. A sale is listed as pending when the contract has been signed but the transaction has not closed, though the sale usually is finalized within one or two months of signing.

Pending contracts are good early indicators of upcoming sales closings. However, the amount of time between pending contracts and completed sales is not identical for all home sales. Variations in the length of the process from pending contract to closed sale can be caused by issues such as buyer difficulties with obtaining mortgage financing, home inspection problems, or appraisal issues.

The index is based on a sample that covers about 40% of multiple listing service data each month. In developing the model for the index, it was demonstrated that the level of monthly sales-contract activity parallels the level of closed existing-home sales in the following two months.

An index of 100 is equal to the average level of contract activity during 2001, which was the first year to be examined. By coincidence, the volume of existing-home sales in 2001 fell within the range of 5.0 to 5.5 million, which is considered normal for the current U.S. population.

Lauren Cozzi
National Association of REALTORS®
202/383-1178
[email protected]

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How Can Someone With Bad Credit Obtain a Hard Money Bridge Loan?

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By Michael Mikhail 

You only have the traditional institutions (banks), mortgage companies, and direct private money lenders as possibilities if you’re a borrower seeking for finance for your investment property.

However, many of the conventional finance sources would not be good choices if you are a real estate investor with poor credit. The majority of banks and mortgage firms don’t have mortgage loan programs for those with bad credit. Fortunately, a Hard Money Bridge Loan is a wonderful choice to get funds and even raise your credit score in the world of private money lenders.

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There are so many loans available, and a lot of them substantially factor a person’s credit score into whether or not they will grant them a loan. Thankfully, Hard Money Loans are an exception to this rule.

What conditions must be met to qualify for a hard money bridge loan?

The criteria for a hard money loan are your assets, not your FICO score. There is no required minimum FICO score for the borrower, but you must still furnish your credit score. Hard money lenders instead concentrate on the asset’s Loan-to-Value (LTV). There is no need to be concerned about bankruptcies, foreclosures, collections, etc. because there isn’t any underwriting involved in these loans either. They are typically limited to 75% LTV or below, with rates between 9.00% and 11.99%, and are always bridge loans for 12 to 24 months. True hard money loans never come with terms.

As was already mentioned, the emphasis is on equity and assets rather than credit. If there is enough equity in the property and the applicant can repay the loan, it may be possible to overlook the borrower’s terrible credit, prior bankruptcies and foreclosures. The property’s value is given additional attention. In comparison to typical loans, the financial checks for these loans are less thorough and take less time. Hard money lenders are exempt from many of the regulations that more conventional bank loan lenders must follow. As a result, a Hard Money Bridge Loan can be authorized considerably more quickly. Stratton Equities, the top Nationwide Direct Hard Money and NON-QM Lender, may fund a Hard Money Loan in as little as two weeks, when a standard bank loan might take 45–90 days.

There is more risk being assumed by the lender because of the short turnaround time and less stringent surface-level financial standards. Therefore, compared to regular loans, the repayment terms are much shorter. A Hard Money Bridge Loan must be repaid in a matter of years, as opposed to a standard loan, which may have a repayment period of around 20 to 30 years. Therefore, if a borrower has poor credit, the lender is taking a bigger risk and needs the money repaid faster.

How Can a Private Lender Improve Your Credit Score?

A real Hard Money Bridge Loan does not have a minimum credit score requirement and can even raise your score, in contrast to a term loan, which calls for a minimum credit score of 650.

If you are a real estate investor and you have a substantial amount of equity in your investment property (more than 50%), you may be able to use a hard money bridge loan to withdraw the funds and use them to settle debts or repair your credit.

Return to the private money lender and submit an application for a term loan after your credit score is more than 650. (ex. no documentation loan).

How can you submit a Bridge Loan application?

Due to predatory lending and expensive rules, hard money bridge loans are only permitted for investment properties. You cannot obtain a Hard Money Bridge Loan if you are shopping for an owner-occupied property.

Due to the substantial risks, some states have non-judicial foreclosure legislation as well. Due to the protection provided by these laws, lenders feel more secure providing these high-risk loans because they are not traded on the secondary market and the lender keeps the note. Additionally, rural communities are not eligible for these loans if they have poor FICO ratings.

If you have poor credit, get in touch with Stratton Equities to find out your available loan alternatives and which one will suit you the most.

Our goal at Stratton Equities is to make private mortgage lending simple, effective, and stress-free. With a straightforward three-step process that includes pre-approval, processing & underwriting, and funding, we assist other seasoned investors, borrowers, and experts in the mortgage and real estate industries in succeeding.

To find out if you qualify for loan pre-qualification, call us at 800-962-6613, send us an email at [email protected], or submit an application right away by clicking here!

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Michael Mikhail, CEO Stratton Equities

Michael Mikhail is the Founder and CEO of Stratton Equities, the nation’s leading hard money-lender to national real estate investors, with the largest variety of mortgage loans and programs nationwide.

Having launched Stratton Equities in early 2017, Michael has always been an entrepreneur and innovator in the real estate market, purchasing his first home at 19.

A serial entrepreneur with a foresight for business opportunities, Michael had a slew of small businesses prior to launching Stratton Equities. One of his most prolific ventures was a car wash connected to a gym he was affiliated with in Florida during 2001-2002 while attending college.

It wasn’t until he graduated from Florida State University with a degree in Business, that he officially joined the mortgage industry in 2003 and decided to travel to explore his options globally.

After travelling to 19 countries in 5 years, Michael knew two things; he wanted to start his own business and launch it in the United States. He knew that moving back to the states was the best place he could start something small and grow it into something infinite.

In 2017, Michael noticed how the mortgage industry had transformed after the regulations presented from 2008-2012, and knew it was time to set out something on his own, thus creating Stratton Equities.

Under Michael’s leadership, Stratton Equities has grown into one of the biggest leaders in the Mortgage and Real Estate industry across genres and platforms.

Learn live and in real-time with Realty411. Be sure to register for our next virtual and in-person events. For all the details, please visit Realty411Expo.com or our Eventbrite landing page, CLICK HERE.

What is the Difference Between a Borrower and a Real Estate Investor?

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By Stratton Equities

The real estate world can be complicated. There are a significant amount of terms and concepts that you need to understand to be successful in the field. Real Estate Investors, borrowers, and entrepreneurs are some of the most fundamental terms you’ll need to know.

Luckily, these are very self-explanatory and easy to understand. Here is what each term means and the differences as well as similarities between them.

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What is a Borrower?

A borrower is generally a person who is looking to obtain funding for an investment property. Although prospective borrowers are individuals, once they are approved for financing, their funding is sent to their LLC or company that has been set up for the purchase.

In the context of hard money and private money lending, the funding provided is used to finance a real estate venture. In the world of private lending when funding a real estate investment, there are borrowers and lenders.

Real Estate Investors are people who purchase properties as investments to provide them with passive income. Real Estate Entrepreneurs are those who receive the majority, if not all, of their monthly income through real estate investing.

Once a real estate investor or entrepreneur has sought out financing for a property purchase, they become a borrower.

What are Real Estate Investors and Entrepreneurs?

Both real estate investors and entrepreneurs are individuals who invest in real estate to generate income or benefits. There are many similarities between the two, but they’re defined by a few key differences.

Real estate entrepreneurs were once investors, who have transitioned from solely investing in a few properties to creating a business acquiring multiple properties as their main source of income. Their business model as an entrepreneur is based upon the act of investing in real estate full-time.

Aside from having the technical ability to spot lucrative real estate opportunities, entrepreneurs hold the critical ability to seize them at the right time. Driven to succeed just as much as the entrepreneur, investors tend to have less experience, are just starting out in the real estate world, or don’t put in as much time into their investment ventures. As a result, they are more concerned with smaller details and the daily functioning of their company or portfolios.

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When just starting out, it makes sense for any real estate investor to be preoccupied with the individual aspects of their property to make sure they stay afloat. However, as the investor grows, entrepreneurship and its tenets become more and more plausible. Any investor can become an entrepreneur, but not every investor does.

Real Estate Education

Being knowledgeable about the real estate market is critical in becoming a successful real estate entrepreneur or investor. That much is obvious. With more knowledge or experience in the field, entrepreneurs are able to lower risks, better investments, and build stronger relationships with lenders.

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Talonvest Capital Breaks Fundraising Record for the Orange County Ronald McDonald House

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IRVINE, Calif., June 22, 2023 — Talonvest Capital, Inc., a boutique commercial real estate advisory firm, proudly announces its achievement as the first-ever fundraising partner to surpass the six-figure mark for the Orange County Walk for Kids. Talonvest raised an astounding $121,528 for the 2023 Walk for Kids, the premier annual fundraiser benefiting the Ronald McDonald House Orange County.

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“We’re constantly inspired by the incredible work the Ronald McDonald House Orange County delivers to the community and are grateful for the generosity of clients and industry partners who support our efforts on behalf of families and children in their time of need,” said Tom Sherlock, Co-founder of Talonvest Capital. The firm was honored for the ninth consecutive year with the organization’s ‘Top Corporate Fund-Raising Award.’ The funds raised through the 2023 Orange County Walk for Kids will enable Ronald McDonald House to continue its mission of providing comfort, care, and crucial resources to families during challenging times.

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A multitude of contributors made this fundraising effort successful. Special recognition goes to the anonymous donor who seeded the campaign and partners such as 1784 Capital Holdings, Clark Investment Group, The William Warren Group, Bixby Land Company, Buchanan Street Partners, Newport National, and SoCal Self Storage, among many other corporate supporters who together have helped create a brighter future for families so they can focus on what matters most – the well-being and recovery of their children.

Learn live and in real-time with Realty411. Be sure to register for our next virtual and in-person events. For all the details, please visit Realty411Expo.com or our Eventbrite landing page, CLICK HERE.

Toll Brothers Announces New Luxury Townhome Community Coming Soon to Colorado Springs

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COLORADO SPRINGS, Colo., June 21, 2023 — Toll Brothers, Inc. (NYSE:TOL), the nation’s leading builder of luxury homes, today announced a new townhome community, Heights at Cottonwood Creek, is coming soon to Colorado Springs. The community will be located near the intersection of Woodmen Road and Rangewood Drive in Colorado Springs. Construction of the Sales Center and model homes is set to begin in the fall of 2023 and sales will start in late 2023.

Located on the north side of Colorado Springs, Heights at Cottonwood Creek will include 124 new luxury townhomes. Home buyers will be able to choose from seven exquisite home designs ranging from 1,432 to 2,198+ square feet, each built with the outstanding quality, craftsmanship, and value for which Toll Brothers is known.

“Our floor plans at Heights at Cottonwood Creek feature an array of personalization options and are designed for today’s home buyers, offering residents the best in luxury townhome living in northern Colorado Springs with beautiful community views of the front range,” said Eric Hunter, Division President of Toll Brothers in Colorado Springs. “We are excited to bring our stunning collection of new townhome designs to this very special community.”

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Home buyers will experience one-stop shopping at the Toll Brothers Design Studio. The state-of-the-art Design Studio allows home buyers to choose from a wide array of selections to personalize their dream home with the assistance of Toll Brothers professional Design Consultants.

Heights at Cottonwood Creek is located nearby shopping, dining, entertainment, and recreational destinations, including Cottonwood Creek Park, First and Main Town Center, Downtown Colorado Springs, as well as Colorado Springs’ sporting arenas, stadiums, and more. Children will attend school in the highly acclaimed Academy School District 20.

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Major commuter access including Interstate 25, Woodmen Road, and Powers Boulevard are easily accessible from Heights at Cottonwood Creek, offering homeowners convenient access to Colorado Springs, Monument, and Denver.

Additional Toll Brothers new home communities in the Colorado Springs area include, Revel at Wolf Ranch, élan at Wolf Ranch, Preserve at Kissing Camels, and Red Rocks at Kissing Camels.

For more information, call (866) 999-6822 or visit TollBrothers.com/ColoradoSprings.

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Grab Your Guide Here (Limited)

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Here’s a step-by-step guide on how to flip nice homes without banks:

– Low interest rates, no fees
– No credit check, no income verification
– Low down or even NO-down possible

Click here and grab your guide

P.S. Watch investors in the video who used the
same Unlimited Funding Formula outlined in the guide.

Join Us in Person for our Lone Star Wealth Summit

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– Join Us for Realty411’s Lone Star Wealth Summit –

Are you ready to grow your real estate portfolio to new levels of abundance? If so, be sure to join us for Realty411’s new Lone Star Wealth Summit.

Investors, Realty411 is hosting a Real Estate WEALTH Investor Summit & In Field Bus Training in Arlington, Texas on September 16th & 17th.

This is our first Lone Star Expo with the Bus training since 2018. Make sure to register now for both events in Arlington, TX. What can you expect at this one-day special conference?

We have some of the most active investors from Texas and beyond joining us, including: *

* Chander Mishra MD MBA CPE FASE FASA FAACD – Blue Ocean Capital
* Bob Bluhm, Esq — Asset Protection Attorney & Public Speaker
* Joseph Kimbrough- Apex Real Estate Investments
* Brian Carlson – Subject-To Real Estate Academy
* Joseph V. Scorese – BRRR Loans
* Brad Blazar – Capital School
* Steve Davis – Total Wealth Academy
* Jimmy Reed – 1REclub.com
* Jonah Dew – The Money Multiplier* Abbas M. — Model Equity
* Jim Edenfield – Invest Success
* Tim Emery – Great Mile High Investor Summit
* Neil Walgen — MAG Capital Partners
* Joel M. Desilets – Damascus Partners, LLC
* Hugh Zarenstsky – The REAL Brokerage
* Linda Pliagas – Realty411 & REI Wealth

*speaker schedule subject to change

The Wealth Expo is on Saturday, September 16th in Arlington, TX. The link below will help you register and learn more about the Guest Speakers and Schedule of events.

Register now and you get in the Expo for FREE. However, free tickets are limited and will not last.

https://www.eventbrite.com/e/realty411s-lone-star-investor-summit-build-wealth-with-real-estate-tickets-530755121857

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Ways to Find a Real Estate Mentor

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By Joe Arias

If you want to quickly grow within real estate, finding a good mentor is the best thing you can do for yourself. Whether they be in real estate, politics, or business, almost any successful person had a mentor who helped them get to where they are now. Books, podcasts, and videos will only get you so far when it comes to learning about real estate investing. After that, it’s all about real-world experience and gaining valuable connections.

To learn as much as possible in a relatively short amount of time, you should look into ways to find a real estate mentor. Someone who is trustworthy and knowledgeable will help you quickly grow within the industry and get you closer to your goals. By sharing their mistakes, they can help you avoid making your own. By aligning yourself with someone who has already reached your set goals, you are more likely to achieve your own. There is more to finding a real estate mentor than just picking someone you admire. This article will go over everything you need to know about how to find a real estate mentor.

What is a Real Estate Mentor?

A real estate mentor is someone who will help you quickly grow within your real estate career by offering advice and coaching based on their own experience. Typically, you will choose someone who already has many years of experience and is now knowledgeable enough to share their own experiences with you. They should be willing to help guide you through your career journey based on things they learned in theirs. This mentorship should be a beneficial relationship for both parties. You should also bring something valuable for your mentor, like new skills, networking connections, or potential deals.

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Best Ways to Find a Real Estate Mentor

The perfect real estate mentor should be someone who is successful in the same things that you aspire to do in your own career. Before looking for a mentor, you should complete the following steps:

  1. Identify what you want to accomplish in your real estate career
  2. Establish whether or not your potential mentor has the credentials and experience to help you reach your own goals
  3. Look for someone in the same type of real estate investment you see yourself in (flipping homes, wholesale, property management, etc.)
  4. Make sure the goals of your mentor align with yours
  5. Ensure there is a mutual level of respect

Once you better understand what you want in a real estate mentor, you can begin looking for someone who could be the right fit. This list includes some of the best ways to find a real estate mentor.

  1. Join local real estate groups
  2. Attend networking events
  3. Try out all aspects of real estate to meet the most people
  4. Share your work online and on social media
  5. Create a robust LinkedIn profile and connect with other real estate professionals
  6. Engage with their content and attend their sessions

Types of Real Estate Mentorships

Before you jump right into finding your real estate mentor, you should decide which type of mentorship works best for you. Consider things like your learning style, availability, and what you feel you need to learn from your mentor to succeed. Once you understand yourself and your needs better, you’ll be able to choose the best mentor for you. Below are a few different types of real estate mentorships you may want to consider when looking for your own.

Personalized Coaching

With a personalized coaching style of mentorship, you will get one-on-one coaching from your mentor. This is an excellent option for anyone just starting off in real estate who could benefit from a lot of personalized advice that pertains to their specific needs and goals. This mentor will be someone experienced in the type of real estate investing you plan to get into who can help walk you through any potential projects or deals.

Mastermind Groups

Unlike the personal coaching style of mentorship, being in a mastermind group is like having many mentors around you who you can reach out to. Check your area to see if there are any real estate investing groups that you can join. This is an easy way to connect with peers in real estate and start making connections with people who can help you. If there are no groups in your area, look into some virtual groups instead. You may even end up meeting someone who you want as your mentor in one of these groups.

Apprenticeships

Some of the best knowledge you can gain is through experience. The quickest and easiest way to get lots of experience is through an apprenticeship. With this type of mentorship, you will assist your mentor as they show you the ropes through their own business. This is a valuable way to get hands-on experience, plus you can see how someone who is successful in the same goals you set for yourself conducts their own business. Pay close attention to what your mentor does throughout your apprenticeship so you can follow their example.

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How to Pick the Right Mentor for You

It’s important to note that just because someone has good knowledge of the industry doesn’t mean they’re a good fit for you. Don’t feel obligated to accept someone’s offer to be a mentor just because they are open to it. This is a symbiotic relationship, and both people need to get something out of it. Do your research and make sure whoever you pick as your mentor has similar goals as your own. The best real estate mentor will be able to help you fast-track your goals and grow quickly within your area of real estate. Start by looking for someone who is already accomplishing what you aspire to in your future.

Once you find people who are successful in ways that you hope to be, make sure they would make a good mentor. Just because someone is successful doesn’t mean they are good at being a real estate mentor. If someone doesn’t feel like the right fit, don’t be afraid to talk to others. Find someone who has a good communication style that matches your own. Committing to a mentorship is a big decision, and there is no need to rush it.

Does Real Estate Mentorship Cost Money?

Everyone is different when it comes to requiring payment for mentorship. This is something you should discuss with your potential mentor before committing to anything. That said, having a good mentor can put you ahead of your competition and speed up your success within real estate. Despite costing money, getting a real estate mentor is something you should highly consider for yourself if you want to achieve your goals.

To learn more about how to get started in your real estate investment career, reach out to us to join our three day real estate investment course!

Joe Arias and his partners have flipped hundreds of properties in the Southern California Region. He has developed cutting-edge systems to simplify and scale the entire remodel process that can easily be applied to flipping, rentals, wholesaling, and other passive income strategies. More recently, Joe founded a real estate investing education company called RealSuccess Investments, allowing him to share his tools and systems with hundreds of up-and-coming investors. 

RealSuccess is focused on education on flipping, rentals, passive income, and wholesaling.

Joe is also a best-selling author. He has written 4 books: Finding your RealSuccess, First Steps to Flipping, R stands for Rentals and Retirement, and Wholesaling Real Estate.

“I came from Argentina when I was 20, I am 40 years old now. I didn’t know anyone, I am CERO generation, usually people say, I am first or second generation but I was the one that crossed the border, no language, no friends, no family, no money, nothing, nada… If I can do it, anyone can.”

From a young latino immigrant  to a celebrated real estate investor, Joe is a true testament to hard work and discipline. As an investor, he has made it his mission to help others achieve financial freedom while enjoying living a life of passion, fulfillment, and empowerment.

RealSuccess Website

www.ourrealsuccess.com

Personal Instagram: 

https://www.instagram.com/joeariasinvestor/

Real Estate Investment- Instagram: 

Instagram: https://www.instagram.com/realsuccesseducation/

Video For Finding Money from All Day Training (10 Hour Seminar)

https://vimeo.com/manage/videos/528446162

1 Hour Webinar

https://vimeo.com/manage/videos/530996751

Amazon Book#1:

Amazon Book#2

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