Being A JUMPSTART KENSINGTON Mentor
The success of the Jumpstart Program is dependent on seasoned real estate professionals volunteering their time and providing their experience and insights to rookie developers who enter the program..
Here is a summary of the qualifications and expectations for folks in the mentorship program
Residential real estate development experience. Mentors should have working knowledge of most or all of the “7 JumpSteps” of real estate development (in the Training Workbook). Mentors don’t need to be currently active in development— retirees are great resources— but they should have completed a minimum of 10 residential rehab projects, either “buy and holds” or “buy and sells.”
Knowledge of the local real estate market: Lenders, contractors, housing market—pricing, etc., experience with local license and inspection agencies, estimating/managing construction costs
High personal moral and ethical standards. You’re seeking someone who is mentoring to pay it forward, not for personal financial gain.
Shares the goals of Jumpstart and has a passion for reducing blight. You want “socially conscious” developers who care about community and economic development issues such as tackling blight, slowing gentrification, keeping resources and capital in the neighborhood, and engaging community residents in decisions that impact their neighborhood.
Minimum 1-year commitment to the program.
Understanding of and willingness to support the Jumpstart mission.
Find evidence of this in the work they’ve done and their willingness to sign on as a mentor.
Establish communication with assigned mentee(s) within a week after introductions.
Determine realistic and attainable expectations for each mentee (based on their needs and abilities).
Be available and responsive to the mentee and provide feedback and advice (in person, by phone, via email).
Offer to review pro formas, walk through properties, critique development budgets, and identify development strategies.
Complete and return an annual program evaluation for each mentee and for the program overall.