If you can teach, and you know your business, you can offer to mentor individuals and help them get into the Real Estate investment arena. I've paid thousands of dollars to get just three days of this type of hands-on training! I would have given anything to get this type of training for free! And these individuals will make dedicated employees and partnerships down the road. You might think you are creating competition, and you might be depending on your market and location. I've invested for most of my career in a large area like Los Angeles and for the last three years I've been in a small town, Cheyenne Wyoming. And even in the smaller places, I've never created competition for myself. But I've taught and created some really good Joint Venture partners that I've used ever since.
Why would anyone want to work for free or very low pay? This can't be fair! If you have any training at all, be it in Real Estate or any other business, you know how much education costs. And if that training was worth taking, how much did you pay for it? And these individuals can get this training through you for free. I sure would have rather learned this way back when I got started. That would have been great to have a training program, mentor, and actual experience for Free! Wow! The mistakes that I made after I had some training was a lot more expensive than the training itself. I made a $16,000 mistake on a house in South Carolina, and even with all the training that I had taken, the situation was never addressed during the training.
These individuals will be your Joint Venture partners that will help grow your business. Don't be afraid to run them through every aspect of your business. Remember, you are training them. They need to know how to work the phones, market, interview possible purchases, find properties, and they can bird-dog for you while they're learning, etc. And when they feel that they are ready to be on their own, they can either become a full time employee or they can create a company that you can work with in the future and grow both your businesses together.
If you decide not to pay them at all, you might let them in on commissions on the properties that they located as payment. Always remember, 50% of something is better than 0% of nothing. And if they decide to start their own business, you will still have the perfect Venture Partner for future. There really aren't that many successful Real Estate investors out there to have to worry about competition. Just think of them as a partner working for different company.
Author Resource:
Robert Lett
3904 Central Ave. 107
Cheyenne, WY 82001
Investors wanted nationwide: http://www.BuyWyomingHomes.com . We also offer live mentoring and one-on-one investment help, contact us at the link above. Need to sell fast in as-is condition: http://www.SellWyomingHomes.com .
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