How to find a real estate mentor! This month's newsletter will be dedicated towards explaining the best possible methods and strategies to finding the greatest mentors. But first I wanted to go over a few housekeeping things.
First off I want to say thank you guys for being awesome and being yourselves! We love being apart of all that's going on here in Mobile, AL and the surrounding areas and you guys are all crushing it! The networking and true human connections we are creating with each other and with others is something this world just isn't used to, and I applaud you for going out of your comfort zone to make an impact in yourselves and in others. Okay, back to it. All the greats have mentors. The best investors, real estate moguls, coaches, athletes, and politicians have all had mentors. Not every new investor can afford or justify the high cost many real estate trainers are trying to charge today. So how do you get this crucial help without a big budget for it? Here's 5 Tips on how to get a quality mentor. 1. Join a local meetup or mastermind group 2. Offer to work for them 3. Be the best at what you do 4. Volunteer with causes they are involved in 5. Find out what they need and over exceed their expectations (Add massive value to them and their business)
Finding a mentor can be a daunting task. Who do I ask? How will I ever find someone willing to take me under their wing? Am I asking the right questions? Am I taking up too much of their time and giving nothing in return? We've all asked ourselves these before, at least I know I have. But I can tell you what I did and what has worked for others before me. It was definitely not as scary as I thought once I just dove in and did it. I heard my mentor speak at a local meetup and quickly realized that I had to get to know this guy. He's doing the exact thing that I want to do and producing the exact results I've always wanted to produce. So I quickly scoured the web on how do I get this guy to mentor me? What is the best possible method of creating value so I can be useful to his business? The number one thing that kept appearing was to create enough value to be "valuable" in his business. So I asked him. "What is the best way that I can add value to you and your business?" He quickly responded and I promptly took haste in accomplishing that very task in order to prove myself valuable and serious about creating this partnership/mentorship. I have since made it a priority to try and make his life as easy as possible so that I can continue to gain his trust and wealth of knowledge. Finding a mentor can seem scary, but they are people just like you and I, and if you take the time and effort to go out of your way to make their life easier, then they will reward you ten times over with their wealth of knowledge about the particular business you are striving to be in. I've even heard of other people doing landscaping work or babysitting children for the mentor that they wanted to be close to. It doesn't matter how you add value, all that matters is that you do and that you take action immediately! Ferrari Capital Deals: Coming into the holidays, it's proving itself difficult to find great deals, we hope to have something for you all next month, but if not we have prospects starting in the new year so keep your eyes peeled for those! Mobile, AL Market Analysis: - 47% of the Mobile Population are renters - Memphis, Tennessee-headquartered City Gear has leased some 4,200 square feet of retail space in Bowdoin Shopping Center located at 719 Highway 43 in South Saraland and plans to open in early 2020. The shoes and apparel store will occupy the 2,800-square-foot former Payless ShoeSource space combined with the adjacent 1,400 square feet currently occupied by Lilly Layne boutique.
- Lilly Layne is planning to upgrade with a move into a larger, 2,400-square-foot footprint in the southern building. Other tenants in the shopping center include Piggly Wiggly, Hibbett Sports, Edward Jones and Cato.
- Houston-based, disaster-recovery business Claremont Property Company Inc. recently leased an 1,100-square-foot freestanding building located at 359 St. Francis Street in Downtown Mobile. The property leased before it officially hit the market.
- Old Shell Medical LLC has broken ground on a Class A physician’s office building, covering some 10,000 square feet, for USA Health on the corner of Old Shell Road and Hurlburt Street. The development site is situated near Cammie’s Old Dutch Ice Cream and directly across from the Midtown Publix shopping center.
- Theodore-based Hansen Heating & Air is leasing 6,000 square feet of space located at 9365 Hard Drive in Foley. The new location is already operational and will expand the company’s operations into Baldwin County for Hansen Heating & Air, Hansen Plumbing and Hansen Electric.
- Moss Investments Inc. has purchased a 5,000-square-foot office/retail building located at 758 Downtowner Blvd. in Mobile for $375,000. The new owners are planning to open a small grocery and restaurant concept, featuring Indian cuisine.
- A new 24-unit complex, located near the University of South Alabama campus in Mobile, is under development and will be named Dawson Apartments. The site is located at 94 East Drive near Old Shell Road. It will be adjacent to the 10,000-plus seat Mitchell Center arena.
- Airbus has officially begun manufacturing the A220 in the U.S. The first team of A220 production workers began work at Airbus’ Mobile-based production facility following their recent return from on-the-job training in Mirabel, Quebec, Canada, where the A220 program and primary final assembly line are located.
- The first Mobile-made A220, an A220-300 destined for Delta Air Lines, is scheduled for delivery in the third quarter of next year. By the middle of next decade, the facility will produce between 40 and 50 A220 aircraft per year. Which institutes an upcoming high demand market for new rentals in Mobile. - With an order book of 551 aircraft as of end of June 2019, the A220 has all the credentials to win the lion’s share of the 100-to-150-seat aircraft market, estimated to represent 7,000 aircraft over the next 20 years.
- Airbus has strong and longstanding ties to the United States, with Airbus aircraft being operated by the largest airlines in America. Additionally, Airbus is a major partner of U.S. aerospace companies and workers.
- The company has purchased $48 billion of components and materials from American suppliers in the last three years alone, and supports more than 275,000 American jobs. Among its facilities in the U.S. Airbus has: engineering centers in Kansas and Alabama; training facilities in Florida and Colorado; materials support and headquarters in Virginia; an innovative think tank in California; a drone data analysis business (Airbus Aerial) in Atlanta; helicopter manufacturing and assembly facilities in Texas and Mississippi and a satellite manufacturing facility in Florida. All of this to say that Airbus is a huge contributing factor to the benefit of Mobile, AL investing. - What's even more crazy is that Aviation as a whole in Mobile doesn't take up more than 12% of the diversification pool of jobs which makes for a safer market.
- The former Toys R Us sold on November 6, 2019, to Swintstorage, a self-storage developer out of Savannah, Georgia, for $2.7 million. The developer plans on renovating the building into climate-controlled self-storage with drive-in capability. Thanks for taking the time to read our newsletter! Here's to all of your success in the future!