Real estate coaching may be a must for all serious investors and entrepreneurs, but what makes a good program?
Real estate coaching can be vital. It can make all the difference in your success and how great that success is. Yet, there can be a huge difference in between the value and results of difference programs. So, what do you look for in the best?
The one top complaint about real estate education and training in general is that there are so many newbies and opportunists in this space. As well as those who just haven’t crafted an effective program. What are you really going to get? The best investment you can make is in yourself. Though just like any other investment, look at ROI. That’s far more important than the cover price. What do others who have been through it say? How pleased are they with their investment?
When looking at the value and return on real estate coaching, what tangible results can you expect to get out of this?
It may seem a little crazy to pay $40,000 and come out of a real estate program without even a website. Knowledge can be priceless, but you want to be getting real results too.
If you are just starting out, will this coaching program help you work through those initial assets and milestones? Like getting a website up, making your first offers, and closing on your first deal. Or maybe you are a slightly further on, and need advice on certain assets, tax savings, and scaling to certain goals.
Who Is Your Real Estate Coach
There are lots of coaches out there. What should you base your choice on?
First of all is probably finding a coach with real experience. Specifically, real experience in the real estate strategy and niche you are interested in. There are many strategies that work. Signing up with the wrong coach may mean them trying to squeeze you into a model that simply isn’t right for you, just because it is all they know.
Look for depth of experience too. There are some people who have even appeared on TV series as experts, but barely did a handful of house flips before making it on the show. You want someone who has done enough deals for long enough to really know the pitfalls and most efficient tactics.
Find a coach who inspires you. Someone who is living your dream.
Find one that you share values with too. If your values and beliefs are very different, then it may not go well for very long. Why are they coaching? Why are they in real estate?
Finding The Right Format
There are a variety of methods of coaching, including:
- Online courses
- Phone coaching
- Email coaching
- Mastermind groups
- One on one coaching
- Group coaching
Find the right medium for you. If videos aren’t efficient for you, then get a coach you can get on the phone each week. If you thrive better in groups, do that.
Real estate is a big category and there are many niches and strategies to choose from. Each investor is unique and has unique circumstances. What seems to be working for someone else may not work for you at all. A coach has the 30,000 foot view and can see it is working across the board for hundreds and thousands of investors. A great coach also knows that what works needs to be tailored for each investor and real estate business owner.
You want custom help. The right help for you budget, style, talents, values and goals.
Right Level & Right Scale
Make sure you are choosing a coach and real estate coaching program that is designed for your level and scale, as well as for where you want to go.
You may be just getting started in real estate investing and need help to get set up and off the ground. Or you may need to go from 4 deals a year to 12, or 10 to 100 or 200. If you want to be doing 200 house deals a year, then a coach who has only done one a month probably doesn’t have the skill, connections and experience to get you there efficiently. That’s like a first grade teacher trying to teach how to run a billion dollar business or teach NASA how to build space rockets.
What Can You Commit To?
Make sure whichever type of coaching program you sign up for you can actually commit to. It’s easy if you make it a top priority. Yet, if daily just isn’t feasible for you, then do you do it monthly? Is it better to have long term coaching or a short term sprint and then figure out the next steps? Will you participate in doing the working in a group or need to keep your eyes on your own game?