Any Real Coaches?

General Real Estate Investing
1

As a newbie, I understand the value of coaching. I’m looking to find someone to guide me (and willing to pay for their services) but want to work with someone who has a proven track record. I know there’s tons of gurus who provide coaching, but is there anyone willing to back it up with financial statments proving their succuss? Has anyone had experience working with a successful investor taking on new clients?

Thx.

-E.

2

I would suggest joining your local REIA and making friends with the SUCCESSFUL investors in your area. Your new friends will be happy to coach you for free!

Good Luck,

Mike

3

Any else besides pm trying to get his site listed?

4

OK, since you want a second opinion.

I would suggest joining your local REIA and making friends with the SUCCESSFUL investors in your area. Your new friends will be happy to coach you for free!

Good Luck,

Dave

5

Hey, that’s a great suggestion Dave! Do you mind if I use it?

NHTrader, seriously, do you just have a bunch of money you want to blow, or do you really want to learn this business. If you want to learn the business, then who would be better to learn from than a successful investor in YOUR AREA? When I first started, a successful landlord at my local REIA was a great help to me and she didn’t charge me a dime. I didn’t need a financial statement because I knew that she had about 50 rentals and was successful.

Mike

6

Well, it greatly depends on what type of investing you want to d… do you have specific goal?

7

I think if you find someone who is willing to share their financial statements and charge you for coaching, they’re likely a salesman looking to take your money. The true mentors/coaches are interested in your success… not money. If they’re successful, they don’t need your money. I’ve found a lot of successful people are generous with their knowledge. From this site to my local landlord association. There is plenty of help out there.

8

Why is it so hard for someone to look for mentors or coaching here? it is a choice they can make and no need to always be bashing and trying to show them the how wrong they are.

Answer the question, or let it go so others may answer.

9

fadi - not sure if I follow… The question was answered… Propertymanager suggested the poster should go to his local REIA and find a mentor there who knows his local market. And as an added bonus he would not have to pay to get the coaching…

I do know propertymanager’s opinion about paid mentors/gurus. However in this case he did provide his opinion without bashing anyone.

Are you saying that a mentor is only a mentor if you pay him?

Have a great evening! :O)

10

I wasn’t bashing anyone. I stated my opinion on paid coaching.

11

What type of coaching do you need? Be specific.

12

If you interview just about any successful real estate investor you’ll typically find they have drive, determination, and stamina, but every good investor also has a strong advocate in their corner, watching and encouraging them every step of the way. The most prolific investors have a coach – or mentor – giving them solid advice and helping them to avoid some of the roadblocks, detours, and traffic jams that can delay or prevent their coronation as successful investors.
There are four stages of investing where coaching makes sense:

  1. Before You Get Started – At this stage of your career you have more questions than answers. You’re invigorated and excited about the future, but you’re also afraid of making costly mistakes. A lot of investors fear failure so much they delay investing – spending thousands on one real estate investing course after another – trying to convince themselves that they’re investing in their futures, when in reality they’re hiding from it. A coach can help you adequately assess your preparation and see if you need more education or a gentle nudge towards the playing field.
  2. After you get started and you’re doing well – You may have left the gate with the zeal of an Olympic sprinter, but you need to realize that real estate investing is like a marathon. If you don’t pace yourself you can get winded, slow down, and drop out. A coach can help you to find opportunities you may have overlooked – and to avoid mistakes that could throw you off track. Starting strong can generate income, but good coaching can help you build sustainable wealth, instead of a quick infusion of cash followed by extended periods of inactivity. What’s the best way to segue from one stage to the next? How do you evaluate the current market and accurately decide what the future holds? A good coach can tell you that – and more.
  3. After you get started and you’re struggling – An immediate stumble out of the gate can cause some investors to question the wisdom of their decision. This problem can be compounded by listening to family and friends who are married to the idea of earning just enough to get by. Accustomed to failure – or at least mediocrity – they assume that you are, too. The worst thing you can do is elevate all the Doubting Thomases in your midst to positions of influence. A real estate investing coach doesn’t have the mindset of finding you a graceful exit strategy from real estate investing. They’ll show yow new ways to face your fears, assess your strengths, and turn things around. It won’t happen overnight, but a coach can give you the guidance you need to turn around and get headed in the right direction.
  4. Any time you’re ready to move to the next level – Regardless of where you’re at in your investing career, you’ll face moments of self-doubt and confusion about the best move for your career. You’re traveling in what is to you uncharted territory. An investing coach knows the lay of the land and how to reach your financial destination. Are you taking advantage of every opportunity to advance your career? What could you be doing better? Whether it’s learning advanced investing techniques or better utilization of your credit, an investing coach can show you multiple options for getting where you want to go. You may have considered some and discarded them due to misunderstanding their significance. A coach will help you see the light without shoving you into the path of an oncoming train.
    As you can see, a coach is needed no matter where you find yourself on the real estate investing success track. You can easily falter or stumble, but with an investing coach there to guide you, you can plan on reaching your financial, personal, and investing goals more quickly. A coach can’t guarantee that you’ll never falter or stumble. What they can do, however, is help to ensure that a stumble doesn’t precede a painful fall to the rear of the pack. Hire a good coach to catch you if you fall, to direct you when you stray, and to celebrate you when you succeed.
13

Can you back that up with some irrefutable documentation? With the few minutes I dared “safely” burn at work, I looked up Donald Trump and Warrent Buffet. I would hope we can all mostly agree that these two are prolific investors. Quick research turned up no mentor nor coach for Donald Trump. Most certainly not paying money to hire one. Warrent Buffet may have had a “coach”. Ben Graham has been said by some to be Warren Buffet’s coach, but it would appear that Ben Graham was just someone that Warren Buffet thought was the shiznit of the time; not necessarily spending money to hire Graham to mentor Buffet. In fact, Warren Buffet effectively “begged” Graham to hire him, but Graham refused. Not much of a coach, huh?

Anyways, please provide some evidence that prolific investors - not athletes, not actors, not singers - we’re real-estate investors here; provide some solid evidence, preferably numbers and dollars of the most recent two years (hey, mortgage brokers require that in W2’s), of real-estate investors that have obtained prolific status. Along with the portfolios and most recent sessions they had with their mentors. Something of that nature might justify the costs that mentors charge.

Dean

14

There is not one individual that you mention nor that has attained greatness in any field that would not attribute much of their success to a coach, mentor, or someone that has held their hand through the process.

There are a few ways to get into a mentors world. For instance Donald Trump attributes 100% of his early on success to his mentor and coach, his Dad. To this day Warren Buffet talks about his mentors and coaches that he talks to on a regular bases. One of his famous ones happens to be Bill Gates.

If you happen to be born into the right family or know the right people or work your way into the right circles it is possible to develop mentors that are not going to charge you anything.

If you do not have the luxury of the above circumstances then one possible alternate route to take is to hire a mentor or a coach.

I guess there is also a third option, if you happen to know it all then you don’t need one either.

15 
 I took the suggestion to attend the local REIA meeting as this site and you guys are my coaches and mentors. It was better than I could have ever expexted, I met many succesful invetsors who were willing to swap numbers and provide advice.

 The key to learning this business is acting on the advice and knowledge gained.

Knowledge + Action = Results, There are a few steps to take for every area of investment you must just execute them over and over sometimes before seeing the results.

 My opinion on coaching is this all the systems I looked at cost in the neighborhood of $1500 to $3500. After reviewing them they only contained the information and techniques I already read about in books from Barnes and Nobel. So I decided to invest the money in something that would actually produce a return, advertising, marketing, and materials. Action was what I found to be the missing ingredient so I set a plan in motion and dedicated a portion of time weekly to look for properties, make offers, and get properties under contract to wholesale.

 There is no magic formula that just creates wealth it takes hard work. Find a local mentor, work the numbers on your deals and post them here, everyone here has helped me at every twist and turn. Eventually the mentor you find locally will prove to be the most valuable tool you can have. It has for me.
16

Peter,
I think you’re seeing push back here because your purpose is very evident. This is an educational site…not a recruiting / buy my products & services site. When people on here show they are more interested in peddling their gear than genuinely helping out people with questions, you’re going to catch some heat.
You have some decent points, but look at the last line in one of your posts:

What does it say about 1 inch below that??? Hmm… Private Real Estate Coach. You also list your website.
You’re digging up old posts and posting much of the same stuff over and over.

Do I have mentors? Yes. Who are they? I consider propertymanager, mcwagner, Dave T, BLL, kdhastedt, christopher w, fdjake, investment loans, among some of them.
Do they charge me? No, but I’ll tell you mcwagner will be doing my taxes now and I’ve been asking him multiple questions of how to make my files easier for him to work with.

I will also say I’ve read EVERY SINGLE POST in the following forums:
Beginners, Carleton Sheets
Rehabbing, Landlording
Financing, Hard Money
Asset Protection, Legal
Commercial, Mobile Homes

You know what I’ve found. NOT ONCE do I ever remember seeing propertymanager (Mike) mention to someone that they should buy his book (or that they needed to read his book to learn some piece of information they asked about). No, but what I’ve found is there are TONS of people who suggest his book. He spends lots of time on here and helps tons of people, but he’s not here advertising his book in his posts.

If you want to help people, then by all means do so. I just think you lose some credibility when you show you have other motives. Anyone who reads my posts can probably think of someone else here I consider to fit in that category…
I may not be the biggest brain on the block & I may not have the experience some of these other people do, but let there be no doubt that I just enjoy helping others by nature. You won’t see me posting BS on here about something I know nothing about, but if I can share something relevant to answer someone’s questions - you bet I will. I’m learning on this site all the time & I’m going to give back what I can - where I can.

17

That would be my greater point - minus all of the ‘ifs’. Real-estate investing is more a people business than most would let on about it. All the knowledge and mentoring in the world won’t do a bit of good if one doesn’t interact with people selling real-estate and people buying it. Any unknowns get tossed around by, once again, interacting with those that are currently doing something related to your unknowns. The “take action” that gets talked so much about should really be said for what it means - get out there and start talking to people about the real-estate they are selling and talking to other people about the real-estate they are buying. However, telling something like that to prospective students doesn’t get a mentoring package sold. If one needs a mentor, it’s really just a crutch that will keep the investor held back. Until they break free from that crutch, they will never be prolific. Imagine how well negotiations would go if your mentor was standing there whispering in your ear as you’re asking a seller about what is the lowest price they’ll take for their house. Then try that when buying commercial real-estate in a board room. Compound all that with the exorbitant fees the majority of mentors charge, and that crutch turns into a ball-and-chain. To be truly prolific at real-estate investing, one must have it in themselves to self-motivate. Sure, those that don’t will probably get some one hit wonders along the way. But to be prolific, and especially continually prolific, it takes self-mentoring. Anybody that truly makes real-estate investing a meaningfully successful part of their lives will “mentor” you on that and then not waste their time with you until you do. Those that realize that also realize that there isn’t any need to pay for mentoring. The old saying, “Those who can, do; those who can’t, teach” rings most definately true with real-estate investing.

Dean

18

What kind of help do you really need? Education, accountability, or mentors? I have been coaching people for several years and have found these are the three areas that people usually lack in. If you can define which or how many of these subjects you need help in it would help us determine the best course of action.

19

What specifically are you looking to get out of it? Once you answer that I can provide more guidance.