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Updated 4 months ago, 09/06/2024
What makes someone qualified to be a guru/coach/mentor?
I'm on Instagram and YouTube a lot. It seems like everyone is charging for coaching and courses now. I won't mention the names but on IG there numerous coaches/mentors. I'm not talking about Pace Morby but smaller names. Their free content isn't bad but for Guru #1 owns 10 SFHs worth $2 million and on her content claims she has gross rental income of $150,000. Someone questioned her on the comments asking about net rental income and she didn't respond. Guru#2 charges $597 for his 6 week course (an over $3900 value), same thing $2 million portfolio - I attended his free webinar so that's how I know the price. Guru #3 is "financially free from W2 job" from doing OOS BRRRRs in less than 3 years, scaled to 21 units in one year and now at 35 units. She used a lot of private lenders and wasn't a high income earner. I think her course is around $1500.
I had a California investor on BP contact me. I contacted one of my local agents here and she told me to refer to her coaching program assistant. They charge just under $10,000 for 1:1 coaching. There is a cheaper program with access to the course modules, online platform but you have to pay $200 an hour to talk to a coach. She has an impressive portfolio but I just lost some respect for this agent - I reached out to help a Bay Area investor as an agent not have her sell him an expensive coaching program.
With financial advisors or planners, they have to be certified to help people invest and make investment decisions as far IRAs, Roth IRAs, brokerage accounts. With these RE coaches, there's no type of certification and buying a property is one of the largest financial decisions people make. I could start a course and start charging people "How to Not Lose Money in the Midwest"...lol. My portfolio is a lot more than the first two gurus because of California appreciation.
Thoughts? Should RE coaches required to be certified or have some type of credentials? Or continue as is?