Is a real estate coach worth it?

Question

HelloI am considering enlisting the guidance of a business/real estate coach. Has anyone else out there done this and if so, who did you enlist? Did you feel you got value for your money?Thanks!Karen

Ken Breeze · Answer

@Karen Chenaille that is a good and loaded question on which you might receive many contradicting replies. Always hungry to learn from others, having been coached and coaching startup- and senior businesses myself, I would say that depends on what you currently need and what the coach can deliver that is valuable to you in return. Nobody else but you can determine this.That said, there is so much material, free and at low cost, here on Bigger Pockets, that will take you months if not years to study. This, of course, doesn't replace the accountability and human spirit of a coach or mentor, and perhaps therein lies their greatest value.

Jay Hinrichs · Answer

I am not a coach / mentor nor do I play one on TV.... or have any desire to be.however I have done business and am personal friends with some of the biggest names in the industry over the last 20 years.. most would be vilified on BP so I wont mention their names. Having been to many of their events and knowing how this works from the back offices and so on and so forth.what I see is just like any other slice of life.. some get it will do good.. others no chance they don't have the personality they don't have the drive and commitment.And or they think by reading BP or paying for a mentor is all they need to all of a sudden be a real estate rock star.and at the end of the day.. most gravitate to what you see here on BP they realize this is a uber tough business with a lot of rejection.. and they will do what it takes to buy rentals. that's why this is predominantly a landlord site.. its the easiest to understand and the easiest to implement.. not that everyone who gets into land lording is successful because many fail at it .. So you need to look within be realistic about your strengths and weakness's then decide you can blow a ton of money on training and end up just spending money for nothing.. or you can take what you learn and catapult to higher levels.. the trainers they get paid either way.. its up to you.

Derrick E. · Answer

HECK NO its not worth it. With all the info online and such, please do not waste money on self proclaimed gurus. If they were truly experts they wouldn't have time to coach you because they would be to busy with their properties/business.

Xavier Randall · Answer

@Jay Hinrichs BOOYAH! That's the real truth. I live in SoCal, 1 day saw an ad for an apartment aquisition specialist. You had to pay $99 a month to have access to the office and some online platforms. So...every Saturday i'd drive an hour away for the training sessions and sometimes take a day off my 9-5. Yeah..it promised big $ but getting a deal done was not really happening. BUT...the knowledge I gained was PRICELESS! I learned how to analyze large scale apartment buildings...build relationships with brokers and owners and investors....how to ask the right questions...how to write AGGRESSIVE offers. That lead to me purchasing my 1st 4 unit. Rehabbed it with my own $ and it's very profitable. I will never pay for a mentor again. You have to have the willingness and comprehension level to be able to learn and teach yourself also.Now I have some credibility and true experience and growing.Knowledge and information is powerful. From there...i started reaching out to people already where i wanted to be and they would share information with me. Now...I'm talking with different securities attorneys to learn various aspects of operation my own fund.Being on this site and not putting in the footwork will get you nowhere. Always looking for a mentor will have you looking up 1 day realizing you put $ in someones pocket and that could've bought your 1st property.

Jon Lee · Answer

Hi @Karen Chenaille!Take a few things into consideration:There is a ton of information out there that is free and available to use. You can find almost everything you really wanted to know about real estate here on BP or on Youtube. That being said...it can take A LOT of time to process and dig into.The amount of info out there can be about all sorts of investing niches and opportunities...it can be overwhelming if you don't have your end goal in mind.Have your end goal in mind...what do you want real estate to do for you? How much do you want to make? What the specific amount of income you want to create (monthly cash flow or annual amount)?Can you take info that you read or watch on video and take action on it without any outside motivation or do you need some hand-holding to help you learn the transaction (learn by doing - kinesthetic learning)There are more considerations to take into account but for the sake of my limited time; I'm happy to connect with you on the phone to discuss further. I don't coach/mentor from long distance so you don't have to worry about me pitching you on anything. Just text me at my number below and we can schedule a time to talk.