Do You Really Need A Mentor

When I first started my business in 2018, the first thing I wanted to do was to find a mentor. A mentor is something who guides you and points you in the right direction so you can achieve your goals.

I went to Grant Cardone’s 10x Conference in Miami in 2019 looking for a mentor and to meet some people in the real estate space to connect with.

I traveled by Brightline train the entire weekend, but I did not find my mentor. I did find a good tax person who today I’m so grateful for because she educates me on many things.

I left the conference still on the search for a mentor to help me get started. Meanwhile, I was still learning and people were saying real estate mentors are not needed and to get started, you just need to take action.

Still not knowing what that meant, I started talking to a friend/coworker and she would tell me about her past experiences with real estate and establishing businesses. As time went on, I started talking to my friend more and more about all things business and passive income related.

Today, I realized that she’s my mentor. She’s the person I go to when I’m stuck. She’s the one I call when I have a new idea. She is my mentor.

I wrote this blog post because I realized that mentors don’t always have to be in the same space as you. If you can find that one person that constantly gives you good feedback on how to improve or give you some direction, you have found your mentor.

I’m so grateful for mine. I call her very often and we talk for hours most days. As I was talking to her today, I told her I’m glad she doesn’t charge for her services. 🤣🤣 That would be one crazy bill. I also learned that she has helped others just like she helps me.

If you found a mentor, I’d love to hear about your experience. How did you found that person and how have helped you? Leave a comment or send me an email.

The Cash Flow Game

There is one book that almost all real estate investors have read and that’s “Rich Dad Poor Dad” by Robert Kiyosaki. That book alone has given so many people the drive to think about money differently and strive to gain emancipation from their 9-5 jobs.

I, myself have read the book several times. Believe it or not, I have had the book in my possession since 2000. Had I read it sooner, I probably would be a millionaire by now, but I’m not going to dwell on that.

Instead, I want to turn my focus to the game that kind of goes with the book. It’s called Cash Flow. It’s literally Monopoly and the game is Life in one.

I started playing it online at richdad.com in 2018 and I could not figure out how the game worked at all and I was always the last one out of the rat race.

However, in 2019, it finally clicked and I knew exactly what I was doing wrong. I wasn’t educating myself enough to be a well rounded investor and therefore would often make bad deals and lose money or I was buying stocks high so when it was time to sell, I was losing money or I wasn’t taking risks and missing out on deals because I didn’t want to be in more debt.

Today, I play the game as a reminder to keep pushing. So when I’m bored or I’m feeling stuck on something, that is my go to game.

If you are reading this, I encourage you to play the game. You can play alone or with other players. I suggest playing solo first so you can take your time and read the cards.

If you do decide to play, I’d love to hear about your experience. Leave me a comment and let me know your thoughts.

2021 MS Tax Lien Auction Closing

I’m pretty sure there may still be some MS Tax Lien Auctions still going, but for me it’s a wrap for 2021. Although, I had planned on winning 6 bids, I won 3.

I almost feel like I have to watch the auction live because I would have missed out on winning the three bids, I did place if I wasn’t watching some of it.

Overall, I think I did pretty well and I’m looking forward receiving some mailbox money after the first of 2022. Why after the first of 2022?

Well, because we are almost into the holiday season and some people are going to be too busy shopping for presents, taking trips, etc, not thinking about those property taxes until tax season which is what I’ve come to love about bidding on tax liens in August.

Having A Property Manager is AWESOME!

I honestly don’t know how other long distance real estate investors handle work orders from their tenants.

I wrote a blog previously about how valuable having a property manager has been to my team.

Today, I received a text from my Property Manager. I’m thinking a bunch of things like is the tenant okay, was there storm damage from Hurricane Ida, etc.

Low and behold, it was about the stove. The stove wasn’t connected properly and a part burned out. Go figure!

No one was injured. The property is still standing. The stove has been repaired and I reimbursed her the amount that she paid for the part. Luckily, I purchased warranties on all the appliances I purchased or that may have hurt my feelings and my pockets. 😂

My advice to anyone who is considering buying long distance real estate rentals or just investing in rentals in your neighborhood, try looking into getting a property manager. The service they provide to you is worth the money.