Entering the world of real estate investing can feel like navigating a complex maze—you’ve read all the books and listened to numerous podcasts, but still, pinpointing the exact next step remains unclear. 

Whether you’re a seasoned investor or poised to make your first significant move, the decision of whether to engage a mentor—and more specifically, whether to pay for one—is critical. Let’s unpack this together and determine the best approach for your investment journey.

There are two main types of mentors: paid and unpaid. 

Both have their place and having experienced both, I want to help you determine which might be the best fit for your journey.

Unpaid Mentors: Accessible, but Limited

Unpaid mentorship can be incredibly valuable, particularly if you have access to a willing and knowledgeable mentor within your network. Here’s what to consider:

  • Availability and Depth: While unpaid mentors offer great insights, their availability and the depth of their guidance can vary. They might not have the capacity to provide continuous support or to dive deep into every aspect you need to understand. Because your unpaid mentor is supporting you based on a volunteer-based agreement, they aren’t obligated to follow up with you with urgency if you have an issue. If it gives you peace of mind knowing that you have a contract agreement with a mentor can give you peace of mind. 
  • Reactive Support: Typically, the guidance from unpaid mentors is reactive and heavily dependent on your ability to ask the right questions. If you don’t know what you don’t know, crucial pieces of information could slip through the cracks.
  • Varying Commitment Levels: Without a financial transaction, the commitment from both sides may naturally ebb and flow. This could mean less consistent support during critical periods of your investment journey.

Paid Mentors: Structured Guidance at Your Fingertips

Paid mentorship in Real Estate is like enrolling in a comprehensive course tailored to your investment goals. Here’s why you might consider this route:

  • Expertise and Accountability: Paid mentors provide not only their knowledge but also structured, proactive guidance. Because the program is laid out from the beginning you know exactly how you will be supported which provides you predictability and peace of mind as you move forward and take risks. 
  • Systematic Learning: With paid mentorship, you step into a curriculum or framework that’s been refined through the success (and failures) of many before you. This systematic approach ensures all critical aspects of real estate investing are covered, leaving no stone unturned.
  • Commitment and Focus: Making a financial investment can heighten your commitment to learning. It’s simple: when your hard-earned money is on the line, you’re more likely to be engaged and less likely to back out at the first sign of trouble. (When you pay, you pay attention!)

Choosing between paid and unpaid mentorship depends significantly on your personal circumstances, including your existing knowledge, the depth of your network, and your financial readiness to invest in professional guidance. 

If you’re serious about minimizing risks and maximizing your success in real estate investing, paid mentorship often provides a more comprehensive, committed, and structured path forward.

Here in the Owning It & Living It community, I offer both paid and unpaid guidance. For free advice, make sure to check out my blog and join our Facebook group.

 If you’re looking for direct knowledge tailored to your specific situation, visit my ‘Learn with Erika’ page to help you narrow down which program works best for you. Whether it’s a question about strategy, a need for deeper insight, or just finding your footing, we’re here to help guide your path to real estate success.

Join our community and start your journey with the support, guidance, and network you need to not just invest in real estate but to thrive in every aspect of the journey.