Many people think that a coach or mentor is something only for athletes and the rich and famous. I can understand why most people feel this way. We all know Tiger Woods and Micheal Jordan have coaches. Many people are hesitant to get into a mentoring program. It cost money. Maybe you don’t have it. But I want you to consider this saying:
“If you continue to do what you always have been doing, you will continue to get what you have always been getting”
A coach can help you avoid mistakes and point out what you are doing wrong. Its better to pay upfront to avoid mistakes that could be costly
I started doing research about coaching and mentoring programs, in all areas life as well. I researched health coaches and what they do; I researched life coaches, business coaches, fitness coaches, spiritual coaches and more. You can find a coach or mentor to help you with almost any area of your life! I found many programs available and prices to fit any budget. Coaching is not just for the rich anymore! There are programs for one on one phone coaching, group phone coaching (fancy term for a teleconference), live group coaching and live one on one coaching and mentoring. I couldn’t believe all of the success stories I would hear from people who had a coach. They would say things like “Having a coach, forces you to do what you know you need to do to become successful”. “Having a coach keeps you accountable and on track every day”. “Having a coach is like having a business partner without having to split my profits”.
I started talking to and interviewing coaches, students who have participated in coaching programs and reviewing the programs themselves for real estate to see what works and what doesn’t. There are a lot of real estate coaching programs available and lets face it, most of them have a very bad reputation.
I have heard stories about most of them. On the internet you can read horror stories about good, hard working people who have invested thousands of dollars into some real estate guru’s coaching program only to find out that they still haven’t purchased their first property. Not only that but most of the people selling the coaching and providing the coaching don’t know or understand the speaker’s teachings. This can be very frustrating to the student who just purchased a coaching program, thinking that the coach was familiar with the teachings of the speaker. This is not a good way to start off a coaching relationship.
I’m not saying all real estate coaching programs are a bad investment . There are some that are bad, some that are good and a few that are great! I am saying is that some are more interested in “selling” the coaching than “delivering” the coaching. But when you find the right coach and program for you, you will literally be amazed at how easy and simple it can be to become a successful investor.
A coach should not only teach you the mechanics of how to invest but also help you in the areas you need help most, but they also hold you accountable to what you need to do to become successful. A good coach will pat you on the back when you need it and kick you in the butt when you need it too. A good coach also knows when you need each of the above. A good coach is someone you build a relationship with over time and will give you assignments during each session so you have something to work toward and can see your progress. They share your successes and help you through your failures. That’s extremely important if you want to get the maximum results from your coaching experience. A good coach will lead you in the right direction based on what YOU want to do with your life. They will not try to slam you into a particular area of investing if it is not the area you want to focus on. See, everyone has likes and dislikes in different areas of real estate.
For example, I am a terrible landlord. I don’t like it and I am not good at it. When I started investing, my tenants had me trained to come to their house (really mine) to pick up their rent. What a total waste of my time. A good coach will ask probing questions to find out what you like and do not like about real estate. They will find out where you are both financially and personally in your life and then where you want to be. They will then help YOU come up with a game plan for success and how to make the dream a reality. A good coach will bring out your strengths and help you with your weaknesses. They will help you see the big picture and then break it down into small manageable steps so you can see your progress immediately.
When I finally decided to start my coaching and mentoring program I literally spent days traveling across the country and visited marketing firms, coaching companies, and talking to the actual coaches themselves. I found out what they taught and how they did it. I found out what works and what doesn’t. I found out who to model my program after and who to stay away from. My business philosophy became the same as Truett Kathy of Chic Fillet fame which is to “Put People and Principles Before Profits, Then Everyone Profits”.
I created my own coaching and mentoring program to make sure that the students could learn in detail. I totally customize each program to the student. You can start in any area of investing you desired no matter what your experience level or area of interest in real estate is. I am happy to say that after having our program in place for a while now we already have many, many happy students who have been through our coaching and mentoring program and are well on their way to a prosperous career investing in real estate. I get an email almost weekly from a student who did their first or next deal by going through our program. That’s an awesome feeling to know you contributed to someone’s success.