Found A Mentor... What Should I Ask
I have been looking into REI for a while now, and then today my husband was telling someone he works with that I was thinking of it. Well as it turns out he invest and his partner that used to do all the leg work as moved and he is looking for a new partner. He briefly described what he does and want to meet with us over dinner and see if it is right for us.
This is what I got so far. He is mortgag broker and has his own company. He finds people in pre-foreclosure that have a second mortgage on thier home, then purchases the second mortgage for very cheap (not exactly sure how he does this), and then when it goes into foreclosure he has the first option to purchase the home, which he does and then resells.
I assume my half of the business it going to be the knocking on doors to find out if the people will sell us thier second mortgage and probably doing a lot of the comps to see if it is worth the end price.
I am very exicted to find a mentor and get started in REI, but I was wondering if you guys had any suggestions on what I should ask him when we meet? Or could clarify the process a little better for me so I go in to the meeting with a better understanding. Thanks so much!
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