Coaching or Bootcamp recommendations?

Question

I'm new to real estate and am interested in multi-family and/or self storage. I've read a lot of the books, listened to the podcasts, and I'm in the middle of my first multi family deal. I'd love to hear any recommendations for coaches or bootcamp programs geared towards beginners. Thanks!

Alecia Loveless · Answer

@Erica Kiang Hi Erica, I’ve signed up for 3 mentorship’s over the past three years and they were all a waste of money. The first one was I think Hugh Jones and right off the start even though it was promised there was no contact with Hugh, only his trained assistants. Then there were weekly calls where many people would be on and you could never get a question answered and finally it got to the point that the coach I had was steering me away from say 20-40 unit properties in like a $3-5M range and pushing me to figure out how to fundraise $3-5M to buy a $30-50M property which I’m definitely not ready to manage but they kept insisting I was.

The second group was a women’s group and right from the start they were up front that you’d have a senior manager and a kind of weekly advisor. So I got going with that and we started working on some things and their training and philosophy and how they wanted me to do things and I go to the next meeting and my weekly advisor types I have quit the company please do not contact me effective immediately. So I reached out to the senior manager about trying to get a new advisor and she never contacted me back and I tried contacting the company and nothing and I could never get ahold of them again and it was supposed to be a year long program and I was about 6 weeks in so that was $8000 just stolen.

And the third one is Brandon Turners A Better Life Tribe which was the least expensive of all three. I joined in August and have only been able to attend 1 meetup due to technical difficulties that I don’t think were all on my end. I had contacted customer support twice but they weren’t able to help me. I finally got a text from someone about 2 weeks ago about what my experience was and why I haven’t been attending and told them what has been going on and they sent out a whole new method of connecting in to the meetings which I can only assume was not created just for me and that other people were having the same experience. I have been able to utilize other parts of the program and the podcasts that occur weekly.

I have been impressed with the Brandon Turner thing so far and if I didn’t work a W-2 would be inclined to go to some of the conferences and programs.

Other than that I feel you can get just as much useful knowledge from BP and the forums and podcasts. I’d be much happier with the other wasted $15,000 back.

Randall Alan · Answer

@Erica Kiang

My personal opinion is that you can learn a great deal off of these forums... especially using the search tool (magnifying glass) at the top of the page and searching the 3 million (literally) previous posts.

So many of the 'guru' programs you are looking towards are really just designed to separate you from your money.  I went to one when I was starting out where to be a part of 'their club'... where they will look at your deals and help you out cost anywhere from $25,000 - $40,000... and people were signing up left and right!  It's all enticing... you are thinking "they have what I want to know"... which is true... but so does every other investor who already has experience if you balance out the opinions you receive.  In the forums, you benefit from multiple opinions - which won't be the case with the gurus.  And frankly, all the other professionals are likely implementing the advice being given by the 'gurus' - as there isn't a lot that is new in real estate.  Everyone here is trying to make smart moves with their money.  The gurus have just monetized the opportunity.

My 2 cents - ask your questions on these forums, and you will get enough opinions from very experienced investors that aren't trying to take your hard earned money.  It may not come in a fancy package - but at the end of the day you will have far more money in your pocket to actually invest in real estate.

If you want a 'freebie' that I really enjoy listening to... check out Jaspreet Singh on YouTube. He's not particularly targeted just at the real estate market segment... maybe more towards 'financial success' but he does real estate investing and talks about it frequently in his podcasts. He too has an offering... but what is really nice is that he puts out a lot of content that is just free for the taking. A lot of the other bigger gurus also put out a lot of content too. I guess my point is that you really don't have to pay for a good real estate education.

We have purchased about 45 doors in the past 6 years.... sold some of those for healthy profits, and currently sit at 37 doors.

All the best!

Randy

Theresa Holl · Answer

Hi Erica, I know some coached who are very personalized and will work with you 1:1.  A lot of the huge internet celebrity options are in giant groups rather than personal guidance. Let me know if you'd like to chat.

Erica K. · Answer

Hi Randy this is honest and helpful thanks!! I just hear a lot of times on the podcast that someone had a coach or was part of a mastermind. But definitely understand your points!

Coaching or Bootcamp recommendations?

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