Wholesale Real Estate Mentor: The ULTIMATE Beginner's Guide

By its very nature, wholesaling real estate puts your assets and resources on the line as a means to generate income and a potential capital gain.

In the field of real estate wholesaling, veteran wholesalers generally agree a professional mentor is a profoundly practical choice and maybe as (or even more) effective than a four-year college degree. Even in the modern 21^st-century economy, learning alongside a mentor remains one of the most effective and efficient ways to gain the necessary insight and skills to start earning a living as a wholesaler.

A wholesale real estate mentor offers professional guidance, so, with an expert by your side, you have a better chance of avoiding the missteps often encountered by newbie real estate wholesalers. 

Mentorship is a type of formalized guidance and directional influence. Before organized education became readily available, mentorship (or its sister concept – apprenticeship) was the primary way to learn most trades. The reality is that most individuals on their journey as a professional will, at one time or another, consider whether a mentor is worth the effort, time, or money.

While real estate wholesaling can be potentially lucrative, mistakes and lack of experience can lead to losses or missed opportunities. This is one of the primary reasons why a mentor can be invaluable.

• What Is A Wholesale Real Estate Mentor?
• What To Look For In A Wholesale Mentor
• How Much Does A Real Estate Mentorship Program For Wholesaling Cost?
• How To Find A Wholesaling Real Estate Mentor
• How To Find A Wholesale Real Estate Mentor Near Me
• What Is A Virtual Wholesaling Mentor?
• Is A Local Real Estate Wholesale Mentor Better Than A Virtual Wholesale Mentor?
• Is Wholesaling Mentorship Worth It?

*To truly grasp the potential of mentorship in wholesaling real estate, don't miss our in-depth video where our very own Real Estate Mentor and CEO, Alex Martinez, reveals How To Wholesale Real Estate In 21 Days Or Less!

What Is A Wholesale Real Estate Mentor?

A wholesale real estate mentor’s objective is to guide their mentee on a path that leads to a successful real estate wholesaling career. The most valuable mentor relationship is the one that is mutually beneficial because it is defined by an established trust. Some say a mentor is among a wholesaler’s best assets.

Wholesale mentors, using various coaching styles and techniques, assist wholesalers in gaining a deeper understanding of the real estate business. As an investor interested in wholesaling, ask yourself - How important would it be for you to know how to sidestep legal potholes in the wholesale process before they even appear?

A real estate mentor offers new and even seasoned real estate investors and real estate wholesalers valuable insight regarding any one of the various facets of the wholesale process. Although it may seem a bit perplexing to consider that an experienced real estate wholesaler would use a mentor or coach, remember that even the most elite athlete depends on support personnel (coaches and trainers, etc.) to maximize their performance.

As you consider your options, remember that real estate mentors may work one-on-one, in-person, virtually, or in small wholesaling investment groups.

Ways A Wholesale Mentor Is Beneficial To Starting A Real Estate Wholesale Career

In addition to the benefits one receives from one-on-one personal attention; a mentoring relationship also might help in assisting you –

• In avoiding the more common (but often expensive) rookie mistakes.
• In refining your intuition when evaluating the potential of rental properties as an investment.
• In offering affiliation to a local real estate network of professionals
• In teaching you how to manage the pace of the wholesale deal
• By guiding you to the most valuable lead resources for wholesalers
• In allowing you to participate as a joint venture in the real estate investing business
• In advising you as to the best lenders who work in the wholesale real estate market

Read Also: 11 Best Platforms For Your Real Estate Social Network In 2023

What To Look For In A Wholesale Mentor?

If you are interested in finding an experienced wholesale mentor, recognize just how personal this decision might be. Thus, there are no one-size-fits-all mentors from which to choose. 

But first, a note of caution. Unfortunately, there are unsavory characters misusing their talents to take advantage of a newbie real estate wholesaler. These scams appear in all shapes and sizes, so be careful about whose hands you put your career in.

Finding a mentor requires that a relationship be built as its foundation. This is because the learning process is based on established trust. But even the best-intentioned experienced real estate wholesalers, who are working full-time, may find they do not have the time to meet the needs of new wholesalers who are hungry to learn the business.

Wholesaling real estate requires the management of many moving parts. A mentor should be able to help with the following essential wholesaling concepts and techniques -

• Housing flipping and "wholetailing"
• Evaluating potential wholesale properties as investment opportunities
• Curating a cash buyers list
• Staying current with local codes and laws
• Virtual or long-distance wholesaling opportunities
• Establishing lender relationships with a local lender, bank, realtor or real estate professional, and private investor
• Highlighting potential legal pitfalls, among others

A wholesale mentor may consider inviting you to participate in a real estate wholesaling deal or at least offer a small stake for the legwork a mentee is likely to do while learning the true workings of the wholesale process.

A Wholesale Mentor Can Be A Wealth Of Information That Helps You:

• Learn how to become a successful real estate wholesaler
• Fast-track the opportunity to do your first deal
• Avoid cash flow mistakes that they themselves have made when learning the real estate wholesaling business
• Reach your potential as a real estate wholesaler – faster. A great mentor identifies and develops your potential
• Understand the importance of closing deals on time
• Know how to work with title companies and other ancillary professionals
• Stay accountable. A mentor keeps you moving in the direction of your investment goals. They help move roadblocks along the wholesale path

Before making a commitment to work with a real estate wholesale mentor, ask to speak with previous students or clients, an honest perspective on working with the mentor can be incredibly helpful.

How Much Does A Real Estate Mentorship Program For Wholesaling Cost?

Like most training and educational programs, a mentoring program is accessible across a variety of forms and a wide range of costs. The most experienced real estate wholesale mentors may charge upwards of six figures to train under their tutelage.

While this is likely a great option for maximizing your return on investment, it is only viable if you happen to have the money to pay for the mentorship.

Most beginners with little practical experience or knowledge of real estate law should be ready to pay for training, wholesale coaching, or mentorship that costs several thousands of dollars.

But as noted astutely by the German philosopher and economist Gabriel Biel, in life, you get what you pay for, and this includes free wholesale training programs.

This is not to say that a free program for wholesale novices can’t be helpful; it is just not likely to provide you with the tools and knowledge depth for a successful wholesaling career.

The cost of a wholesale mentorship and training program depends on your starting level of knowledge, the time you are willing to commit to the learning process, and your budget, among others.

Be smart and thorough, ensure the program or person you select will work for you in terms of money, time, and level of expertise.

Read Also: 20 Best Apps For Wholesaling Real Estate (2023 Edition)

How To Find A Wholesaling Real Estate Mentor

The internet offers a wide variety of resources for those who seek to learn how to invest or wholesale real estate. There are many forums dedicated to wholesaling where professionals network and guide each other by answering questions from new wholesalers.

There are also professional mentors, but just because a mentor is experienced doesn’t mean that they are the right fit for you as a person and investor.

Alternatively, a detailed online wholesale training program runs about six weeks and provides these tools and benefits -

• A national network and community of more than 450 wholesalers – available 24/7
• Four Hours (2 Coaching Calls) of Live Coaching
• Access to industry experts, among other

How Do I Find A Wholesale Real Estate Mentor Near Me?

In the modern digital real estate realm, there are a variety of ways to search for a suitable real estate investing mentor – from online programs to a related podcast, etc.

To be a professional real estate investor, you must learn how to properly vet potential mentors before making a commitment. Here are a few suggestions that are often found to be successful in finding a wholesale real estate mentor -

• Most areas across the nation are covered by one or more Real Estate Investment Associations (REIA). These associations are designed to meet the needs of the many different types of real estate investors and professionals, of which wholesaling is one. Note that these programs require membership in the local REIA chapter.
• Professional networking opportunities that specialize in women or other business minorities
• Local real estate companies and brokerages
• Online forums dedicated to successful real estate investment strategies
• Online training programs
• Consider a position as a senior wholesaler’s entry-level assistant

Of the above-mentioned options, for obvious reasons, it is preferable to select a mentor from your own personal network (or local business). Finding a trustworthy & affordable wholesale mentor can prove to be challenging, but it is important not to overlook the process.

Remember, simply because you are looking for a mentor in a specific geographic location or city doesn’t mean there will be a suitable real estate wholesale mentor in the market of your choice to meet your needs.

If you get stuck in your search for a wholesale mentor, don’t be afraid to broaden your search. A qualified and experienced virtual mentor may be better suited for you than a less experienced in the marketplace of interest. 

Virtual Wholesaling has gained some real traction recently. As such, a virtual mentor is often a great option because they can help you guide you to your first real estate deal while also educating you on how to virtually wholesale real estate.

What Is A Virtual Wholesaling Mentor?

Virtual Wholesaling is a way to wholesale real estate from a distance using technology and digital instruments to complete the transaction. Virtual wholesaling essentially broadens a wholesaler’s playfield to those markets that were once geographically prohibitive.

A virtual wholesaling mentor offers the expected formalized guidance, only virtually (online or by video chat/telephone, etc.) rather than in person. The digital landscape has made this type of mentorship possible and is now quite effective and efficient.

One of the main advantages that a virtual wholesale mentor can help with is how to spread your investment risk across markets to create stabilized diversity as well as maximize your potential return on investment (ROI).

Is A Local Real Estate Wholesale Mentor Better Than A Virtual Wholesale Mentor?

The answer to this question is a definite maybe.

In other words, to answer this question truly depends on the mentor, their style, and the needs of the mentee wholesaler. A local mentor will clearly have established connections and a deep understanding of the markets, neighborhoods, and local customs.

While real estate has traditionally been transacted on a local playing field, the modern digital landscape has created wholesalers around the country working across markets.

Virtual wholesalers tend to be digitally savvy so they can take advantage of all the technological tools and software available at their fingertips. In some sense, the national exposure provided by virtual wholesaling creates nearly limitless investment options.

Read Also: Top 23 Real Estate Wholesaling Software To Scale Your Business

Final Thoughts: Is Wholesaling Mentorship Worth It?

Mentorship is designed to enrich the mentee’s understanding of a trade from someone who has already walked the path a new investor is interested in traversing. A mentorship is highly practical, highlighting the ways to avoid rookie wholesaling errors, which can be costly to the unsuspecting or inexperienced.

The right wholesale real estate mentor has the skills to prepare you for success. In deciding if a mentor or program is a good fit for you, consider if your investment goals align with the potential mentor’s business style and objectives.

While starting a career as a real estate wholesaler without a mentor or formalized training is possible, it is usually more challenging. It also takes time to achieve real success. The alternative to selecting a mentor or enrolling in a training program is the ‘trial and error’ approach – a problem-solving technique best known as the most rudimentary of all methods.

A mentor, as a successful real estate investor, should seek to share their extensive experience, which is designed to accelerate an investor’s entry into the wholesale real estate game. For some, the Return on Investment for a short-term training or mentorship program can be off the charts. 

Now, why not get a head start learning from some of the most knowledgeable mentors in the wholesaling sector? Attend Real Estate Skills' FREE wholesaling training course today! And for those ready to dive headfirst into getting their first deal, be sure to check out our Pro Wholesaler VIP Mentorship Program!