Have you noticed that the sports teams and individuals that have the best winning records are the ones with the best coaches? If a professional team does not have a winning record who do they replace first? Of course it's the Coach! Real Estate Investing is a business where just one mistake can cost you many thousands of dollars and for that reason alone the most important member of your investment team is your coach and mentor.
Another thing your coach will bring to the table that is essential is the element of accountability. In order to become really successful in Real Estate Investing it is imperative that you form successful habits quickly. Legendary football coach Vince Lombardi said “Winning is a habit. Unfortunately so is losing.”
A good coach will help you put together a business plan and give you a track of things to do to help insure your success. But you can only become successful if you stay on that right track and make doing the right things a habit. A good coach will hold your feet to the fire so to speak.
Nothing can keep you moving like a good coach and mentor! He or she will help you through encouragement: the rough times, answer your questions, offer support, motivate you, and help you keep your focus.
Here are some things that you should consider when choosing a coach and mentor. He or she should be…
- The real thing-someone who really invests in real estate and not someone trained to help you learn to invest
- A successful investor with many verifiable properties
- Local-Local is better–because you can get face to face time, training & answers
And they should…
- Have time to spend with just you
- Have been a real estate investor for years
- Have the respect of their peers in the real estate industry
- Be sincerely interested in your success
- Be someone you can trust and with whom you have a good rapport
Also, the price for their coaching/mentoring program should be reasonable and they should have a good guarantee for their program.
While searching for the right coach you need to be aware that you may encounter a number of unscrupulous programs. Some of these will offer you the moon and stars and they will gladly take your money. After a short time you will find that all you got was the moon and stars but not much here on earth.
Some things you should avoid when searching for a coach and mentor include programs that say…
- You can quit your job and increase your monthly income!
- You don't need any of your own money to get started!
- Purchase many properties even if you have bad credit!
- Own a million dollars in real estate in less than a year!
- Start earning $22,000.00 per month immediately!
Don't be fooled by promises that sound too good to be true. Before you start writing a check for any of your hard earned money-get the phone numbers and e-mail addresses of five or six of the people who are experiencing these great successes. Then make some calls to those people to get the true picture. Don't get caught up in the mystique of the expert from afar. Remember local is better.
So how do you find a good honest coach and mentor? Look for the investors in your area that are having success. Use search engines to find successful investor's Real Estate websites. Visit Real Estate investment clubs and ask for references. If you cannot find local talent carefully check out programs offered in nearby communities and surrounding states.
Choosing the right coach and mentor can make the difference in success or failure real estate investing business. Take the time and make the effort to find one that will put you on the fast track to reaching your goals.
I hope this article has helped you in your quest to build wealth through real estate investor training.