How To Find a Real Estate Mentor
- Articles, Blog

How To Find a Real Estate Mentor

Do you really need a mentor to invest in
real estate? My name is Kris Krohn with Limitless Wealth TV and today, I’m
bringing on a special guest that has done a lot in real estate and you get
her perspective on what it’s been like with and without a mentor. Alright so today, we have this special
privilege of talking to my dear friend, Annette Aldridge. When I call her a dear
friend, it’s because in the last couple of years, we’ve become fantastic friends.
Her family, my family and we actually just got back traveling from Costa Rica,
we’ve traveled to Peru, Machu Picchu, we’ve been on quite a few amazing trips
together. – Yes, we have. – But also an amazing adventure in real estate and Annette
started in real estate many years ago with her husband, Jeff, and really long
before we actually got connected but tell us just a little bit about you, so
you serve in the military and tell us a little bit about that. – I joined the
military because of 9/11 and it was a conscious choice to do something, to make
something better in life and my husband does construction so he’s a laborer
like so many other hard-working people out there but yeah, we wanted to own
things, we wanted to have real estate, we know that that’s a way that we can do
more with our lives than just work for the money, spend the money, work for the
money, spend the money so we wanted to own, we wanted to have rental properties,
we wanted to flip, we wanted to, we actually want to own a hotel chain so we
started this process. When we bought our first house, what we did is we actually
bought two houses at the same time before the first one here our credit, I
don’t think you can do that anymore but we did, we bought two houses, they were
both duplexes and yet we didn’t know how to buy and sell, we didn’t know the right
ways but we did because of my husband’s construction choose to buy houses that
needed a little bit of love and a little bit of work. – And you guys have been very
do it yourself oriented, right? – At all time. – didn’t really have mentors, never
participated in a real estate program, it was really just you versus the world and
out there making it happen. – Yes, and we did, we were. – Which by the way, I just want
to just say something for all of our youtube friends out there that are
watching this, there’s a lot of them that are kind of shy and timid and worried
about what they need to get started, will you just tell them to just go out and
make it happen? – You don’t need anything. Well, I mean you need to do something and
want it. I’ve done so many things in my life where it’s just because that’s what
I wanted so I figure something to do, which is what we did
with buying those houses. We bought them, we fixed them up, we figured it out and
then we held on to them but we ended up living with my mom so that we could hold
on to them because there were things we didn’t know, we didn’t know what you do
fix up and don’t, we knew how, you know, how to put in the tile, we knew how to
fix the doorway, we knew all those different kinds of things but we didn’t
know the things that were giving us a better ROI, things that we should avoid,
the people that we shouldn’t should not get in there. – Well and then, you and I, we
met each other like seven years ago and then we – and we had rental properties
when we met you – you had properties and yet even though we kind of got started,
we kind of didn’t, you still wanted to kind of try it on your own before. Well
that’s kind of like, I want people to know what’s it been like doing it
yourself and what’s it like when you actually got some professional help
because there’s a lot of us that try to go out there and do it without a mentor
and some of us can succeed but there’s a lot of us that put ourself on a much
slower track and once in a while even on a dangerous track without the help of
someone that has a lot more experience. Can you just talk about that a little
bit? – Yes, actually we were on a slower track but we were on the only track that
we knew how, we didn’t know that there were even mentors really, we didn’t know
we had access to that, we didn’t know what else we could do, we knew we could
buy property, we knew he could fix it up, we knew we could rent it, we knew he
could make money on and when we got some more money, we were going to buy another
property but that’s where we got stuck. We met him when we were at two
properties plus the house we owned and we’d been there for like ten years
and we’re like, okay, but we just can’t get past this because we didn’t have
more money to buy and we couldn’t get another property. – Well, and I think a
lot of people get stuck in that where we can get a property or two but the only
way we’re going to get more is just by working harder and saving up money
and that is the eternal track, that’s the slow job, that’s the one where we, it’s so
someday oriented and yet there’s a much faster path so what happened when we got
involved to accelerate things? – So when I met him, we actually bought into the
program and I thought, well I’m just going to keep him in my back pocket cause now
he’s this smarty pants guy who’s done it. – I am smart and I wear pants and I’m a
guy that’s technically all truth .I’m the smarty pants. – So it’s true, he had made
money in real estate so I really wanted to know what he knew in case I needed it,
but I wasn’t really ready for and I had a little ego maybe. – Alright, well no that’s
fair, that’s pretty, all of us are give you a round of applause and
having some some authenticity and openness about that and you went on for
what? Five more years? – Yeah, so we connected, we bought in, we learned a little bit, we
own, okay, we can continue and we actually did buy another house and sell one house
and then we were still stuck at our glass ceiling, whatever that was and so,
what we actually ended up doing was reconnecting with Kris five, seven years
later and we went, oh, wait a second, he’s made millions of dollars in the
last seven years, we’re in the same place the last seven years. Hmm.. So we decided to
listen a little bit more, we were actually in a really bad place because
we’d gotten a little bit of extra debt, we had used credit cards to finance
some of the fix ups on our houses, we’d put people in our houses that hurt it
and so we had to spend money to get it fixed back up, we just really didn’t know
what to do, how to jump to the next level and so when we were talking to Kris and
his team about it, we were like, okay please, this is what we have. We put all
our cards on the table, I mean, I really actually had a bit of a hard time with
it because like I said, I actually did have ego, I mean I’d invested, I’d done
well, I’d made money and so we put it out on the table like okay, we have this
and this, what would you do with it? How would you use our investments? – Well I
want to pause for a second because one of my favorite parts when people
actually click on the link and say, hey I want a game plan, I want to talk to
someone on your team. – That’s what we did. – We can’t really promise the stars, we
can’t promise anything but what we can do is put ourself in your shoes and say,
alright, creating wealth is just moving assets from low yields to high yields,
what are you doing with your money and are there inefficiencies? Are there
things that you could be doing different? And that’s really what a game plan is
and so we sat down, we did, we had a chance to revisit and what did
that reveal for you? – I just have to say, that was the best thing ever, that was so
cool because I didn’t know what to do next, I
knew I had stuff, I knew I could do stuff, I didn’t really know what to do next and
in that game plan, it actually gave me some ideas. You guys sat down, looked at
our stuff and says, well you can do this, where you can do this or you can do this,
what do you want to do? And so we picked one which was a more aggressive one.
– That’s kind of more your nature. – Yes, but it made all the difference to where
we are right now, like we wouldn’t be anywhere, we wouldn’t have been traveling
with you last week if we had not done what we did with you, if it had not been
for your knowledge that took us past where we were stuck. – Thank you.
Let’s talk about your last property to spots. So you went in even though you
live in Utah, you actually bought an out-of-state property, that’s something
that would terrify a lot of people but I know that you guys did your due
diligence, you even got on the plane, but you got a fantastic deal.
What’s the projected ROI on this home in Florida? – I think was 24%.
– Okay, so friends, an annual ROI of 24%, you can do some basic math on that, 24 times
4 is essentially a hundred percent, this is one of our, we have cash flow
markets, that’s what we call our growth market and we tap into deals like this
that we can get great deals on and on that home, what’s the cash flow on that
one a month? – The cash flow is just under $500, seriously. – So
you’re just under $500 a month, fantastic, great cash flow by the way on
property. – After, even a management fees, after all the expenses, after everything
that we, all the money we’ve put into, we get that much each month. So cool. – Wow
that is really awesome and tell me just a little bit about you guys
actually you never have to get on a plane to go check out these properties
because we got boots on the ground and a team of 200 experts but as you can
probably tell, my friend here, Annette, she’s pretty careful and and she likes
to be thorough so you guys actually went out and checked out the property? – Yes.
– What you notice? – Went to a little vacation in Florida just because I consider myself
with doubting, Thomas and I wanted to know that what he had on the ground was
really what he said it was, no offense. – That’s okay, none taken. – And I was so
impressed with the people, I was so impressed with the people that were there that I
actually made a little video that I posted online and I’m like, hey, these are
the people we’re going to invest with and then this year, we did. I know that
was the people that helped us to get the house and I didn’t even have to see the
particular house that that they did other than the pictures of it because I
knew that what he had said was right and what they had said was right and so I
just like, where do I sign, where do I sign, it was amazing. – And when when do you
think you’re going to do your next deal? – I would do another one tomorrow. – But
when do you think it’s time though? Like when in your game
plan you going to be buying your next property? – In January. – January. So just next
month. So you’d go tomorrow but you’ve got to wait 30 days, I’m so sorry, my heart
goes out to you. Just play my little fiddle here. That’s super exciting, it’s
exciting to be out there to see it happening and to build your portfolio
and to step into the right properties in to refresh it and you know, investing in
real estate, if you look at it over a 10-year period of time, you might only
buy one or two houses now but a few years later, you can catapult that into
more homes, by the end, of ten years, you can grow that into a healthy portfolio
of homes for you. What is your biggest driving why on why you want a portfolio
of real estate producing this residual income for you? What would it mean for
you and your family? – It means that I can bring my husband home from work. My
husband works harder than anyone I know, he works in construction and he works
cement and construction. – Yeah, that’s hard work. – And he goes out of town to work to
help us have more money, he works 14-hour days sometimes to help
make us money and I don’t want him to have to do that so that we can benefit, I
want to have him home with us so we can all benefit from his hard-earned money.
– Wow, so some of the lessons that I’m extracting from this video is number one,
having a mentor is really powerful, having a team because it’s not just me
as your mentor, it’s this entire team of experts that can step in. Another
principal is, I can really tell from Anette that she has a reason that motivates her
and that’s something that you’re going to need anytime you’re doing anything in
life that you’re going to need to stick with the power, if you need to have
that stick with the power, you need to know your big why behind it but the
other thing is that, Anette is an action taker.
Even as the doubting Thomas and having that moment in life, taking
action meant instead of doing nothing and then getting on a plane and making
it happen and interviewing the team and seeing what that was all about and
and, Anette, it’s been awesome building a portfolio with you and you know, if I had
to look into your future over the next 5-10 years, I think you’re going to be
owning a ton of real estate, just beginning, going to be coming home from
work and it’s going to mean great things for your family.
– Oh he won’t be working anymore. – Yeah, awesome. Well friends, thank you so much
for joining us today. Anette, thank you so much for coming out for
today’s video. Are you ready for a mentor? Would you like to know what it
looks like to have someone taking you by the hand and guiding you through the
entire process? Click up here and learn about your real estate investing options
right now, we’ll show you how to do it just like Anette did.

About Gregory Ralls

Read All Posts By Gregory Ralls

12 thoughts on “How To Find a Real Estate Mentor

  1. I've always been intrigued by real estate, and design ideas type things but no previous professional experience with either but what scares me is I'm SO Not a sales person. How do you invest in something on such a large scale and guarantee a a return on it? And how do you not sink on any up keep of rental properties?

  2. Hi Kris I would like you to be my mentor so I can implement your system and have a gameplan in the UK? will this be possible? or do you only mentor people in US?

    I am also planning to get a mentor in the UK so I can implement your system legally and effectively in the context of UK market.

  3. I’m 25 years old and am looking to get into this field. I’m looking to getting my license by end of next year. I live in NY I’d love to have you or someone like you to be my mentor. I want a life change and I truly believe I can do this. Because of the background I came from, sense of direction has hindered my progress. I hope you reply to this!

  4. I need some advice from an experienced Real Estate person. We will analyze my situation and come up with a plan to turn my property from a Liabiility to an asset

  5. Lol even learned your name is Kris and not Chris… I watched the entire thing and I see Annette is agressive much success to her! I'm over her "why" she joined the military lol. It was hard to digest that one lol.

Leave a Reply

Your email address will not be published. Required fields are marked *