Personal Development

3 Reasons You Should NOT Hire a Coach as a Newbie Investor

Expertise: Personal Development, Real Estate Investing Basics
21 Articles Written
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I believe that everyone can benefit from a coach. Whether you are a health care provider, business owner, professional athlete, or real estate investor, a coach can help you in a variety of ways.

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They can help you achieve things faster than you ever thought possible. A coach can get you through the rough times. And they can help you dive deeper and gain more ground than you ever thought possible.

Think about the highest paid athletes in the world—the ones who are expected to be at the top of their game all the time. These individuals have top-notch coaches. It’s rare to find someone at this level who does not have a coach.

So, why should you be any different? If you want to perform at your highest level possible and truly reach your potential, why wouldn’t you hire a coach? If you desire to do well in real estate, you can and will benefit from it.

But…

3 Reasons to Hold Off on Hiring a Coach

Coaches help you find direction, reach your potential, keep you focused, hold you accountable, and so much more. They can help immensely—especially new real estate investors, who can easily become overwhelmed with the broad range of education, information, and resources available.

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However…

While I think everyone can benefit from a coach, I think having the right attitude and perspective is critical before you go out and hire one. Here are three reasons why new investors should not hire a coach—or at least should hold off for now.

1. You are not willing to commit.

Hiring a coach requires 100 percent commitment. This is a complete time commitment, mental commitment, and most importantly a 100 percent financial commitment.

I say this financial piece, because I think that the amount that you are paying your coach has to hurt—at least a little bit. It needs to be tough, and it needs to be a sacrifice. Otherwise, you are not going to take it seriously.

You need to be willing to put in the time required and to do whatever it takes. You need to take your coach’s advice and perform the actions he or she recommends that you do. When you are paying for this advice, you’ll be much more willing to take it and get out there and put it into practice!

Related: A Beginner’s Guide to Finding a Real Estate Mentor

2. You don’t see yourself as your most valuable asset.

In real estate particularly, the word asset gets thrown around a lot. People tend to think that their properties and portfolios are their biggest assets. I agree that these are important, but they are not your most important asset.

Your most important asset is you! Your most important assets are your brain, your work ethic, and your vision. Your goals and desires to achieve are what sets you apart.

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A good coach can help you ensure that everything you are doing is contributing to your goals, and that everything that you’re working toward is getting you closer to your vision and your end state. They will teach you the tools that you need to keep yourself on track mentally, physically, and emotionally. And they will help you overcome hurdles and hard times.

Additionally, coaches will help you develop as a person and as a professional. They will help you analyze your weaknesses to develop them and capitalize on your strengths. This leads to the last reason you should not hire a coach just yet.

3. You don’t value your professional development.

Coaches are only worth the investment if you’re willing to invest in yourself. You have to have the mentality that developing yourself is what is going to contribute to the accomplishment of your goals. If you don’t value your professional development, you’re not going to get anything out of hiring a coach.

While this post focuses on the reasons you should NOT hire a coach, here are several reasons you should: “3 Reasons Newbie Investors Should Hire a Coach.”

Coaches offer so much more than just advice and guidance, they can help you creatively overcome obstacles and process hurdles. Coaches can be a voice of reason and another set of eyes. They can help you set goals and create your vision.

When you are ready to pursue a coach, it’s important that you find the right one. You both need to communicate well and be on the same page. You also need to ensure you appreciate their coaching style and methodologies. Furthermore, it’s important that they are available when and how you need them.

For more advice on this, check out this blog post.

When you are ready to commit, see yourself as your most valuable asset, and are ready to develop yourself as needed, get out there and find your coach!

Are you considering hiring a coach? What are you hoping to get out of doing so?

Weigh in below in the comment section.

Erin Helle is an Army veteran turned entrepreneur specializing in flipping houses, turnkey renovation products, and real estate investor coaching...
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    Mark JOhnson Investor
    Replied 9 months ago
    Interesting article but more sarcastic then objective.
    Erin Helle Investor from Monterey, CA
    Replied 9 months ago
    Not at all meant to be sarcastic. Just emphasizing the importance of the right mindset and level of commitment required to really benefit from a coach.
    James Bonsall Investor from Cincinnati, Ohio
    Replied 9 months ago
    #1 is the number one reason in my book to not hire a coach. Books have everything you need early on, use a coach to optimize once you start taking some action.
    Erin Helle Investor from Monterey, CA
    Replied 9 months ago
    Agreed! Make sure it’s what you really want before you go all in.
    Chanel Burth
    Replied 9 months ago
    This was definitely a good read! Hiring a coach does take time and money so it should be done when one is ready to make that investment. Thank you for sharing🙏
    Erin Helle Investor from Monterey, CA
    Replied 9 months ago
    Exactly! Only when you wrap your head around this and are fully ready to commit should you hire a coach, in my opinion.
    Jio Craighead
    Replied 9 months ago
    As a newbie and just from my own experience before you hire a coach make sure you do your research on who you are hiring. I got scammed by a guy that claimed he was a multi million dollar investor and coach. After about 4 weeks, with no course work, no real guidance (just a bunch of hour long conversations with him not making much sense) I knew it was time to cut the rope. There are Meet Up groups that you can attend, and honestly there's so many books and other information out there. You don't kneed a 20,000 dollar coach or investment class either. Just be safe people! There are plenty of people who will take advantage of hunger and desire to get that first deal and the knowledge you are seeking.
    Erin Helle Investor from Monterey, CA
    Replied 9 months ago
    Exactly! So sorry to hear that you got scammed! Keep your chin up!
    Hiren Desai
    Replied 9 months ago
    Good article especially for a newbie investor like me. I’m looking forward for a coach (or a mentor). Please suggest, I live in Hoover, AL. I guess local coach/mentor is preferred. How many $ is appropriate investment for hiring a good coach? I understand $ amount is just one of the values one can pay in return to his/her coach for education of so much in value.
    Erin Helle Investor from Monterey, CA
    Replied 9 months ago
    Hiren, how much you want to spend depends on you, what your situation is and what your goals are. I'd start by going to local meetups in your area if you want a local one. Find out what other successful investors are doing, who they recommend.
    Raheem Penny
    Replied 9 months ago
    Great Article. I completely get the message. As a newbie the best advice I have recieved were books I need to read.