Have you paid for a coach? Thinking about Michael Blank

Real Estate · Oakland, CA · Member since 2017 · 31 posts · 6 votes

HI BP community you ROCK! Thank you for taking the time to read and even respond:)

I'm thinking about paying for some one-on-one coaching with the Michael Blank team.

Has anyone specifically used Michael Blank's one-on-one coaching team and if so did you find useful?

There are some nay sayers out there about paying coaches in general: https://www.inman.com/2016/01/13/pay-real-estate-i...

Thank you BP community again, you seriously ROCK!!!

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Shiloh LundahlPro Member

Rental Property Investor · Gilbert, AZ · Member since 2016 · 3k+ posts · 4k+ votes

@Skylar Vincent Inagree with with what @Todd Dexheimer explained that if the 15k you invest to learn starts to generate 15k a year in cash flow, then it was worth it.

You are asking a biased group the question of whether or not paying for education is worth it. There is a higher percentage of people on BiggerPockets that have a negative opinion of paying for education. So when you create a post asking if you should pay for education you will get more responses of people who say not to but instead put that money in the first deal.

A better question to help you get what you are looking for might be to ask people who have spent more than 15K on mfh investing, was your education worth it, or looking back, would you have done it a different way.

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Ryan BlakePro Member
Lender · TX · Member since 2018 · 936 posts · 713 votes
8y
@Skylar Vincent Just about all the big metrics can be put into excel using google searches. It would not be worth your $15k. That could be spent much better grabbing a deal.
Also, if you look back through your comments there is only one person that told you it is worth it and "You get what you pay for." Is anyone surprised that it came from someone who offers software and a mentorship program for a charge.
Be careful who you take your advice from but it seems like the BP community overwhelmingly showed common sense.
Good luck and persevere! You got this.
[email protected]214-420-7324
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Paul B.
Rental Property Investor · Dallas, TX · Member since 2015 · 503 posts · 504 votes
8y
For those who say it's better to spend $15K on your first deal, I think the poster wants to do large apartments. At least that's what I think Michael Blank is about. That much money would hardly pay your legal fees, especially if you are syndicating. So if that's a lot of money to a newbie investor, then it is not worth spending it on a coach because you won't have anything left over to do a deal. But you can't do a large deal with only $15K either.
And if that is not a lot of money to you, then it could be a good investment, if you talk to other students of the program and they tell you it's worth it. I can't speak for this particular program. But it is unlikely to just break into the apartment business and do your own deal without a team behind you, either a paid mentor or an experienced pro who is willing to take you under his wing. And the latter gets such requests all the time from aspiring investors. I know quite a few investors who have found value in another mentoring program that costs in the same ballpark as the one you mention.
2 Reply
Robert Schumacher
Investor · Campbell, CA · Member since 2016 · 76 posts · 91 votes
8y
Skylar Vincent There are definitely economy of scales and the value of $15k varies from investor to investor. Personally, I’m happy to exchange money for knowledge and helping to speed up the building of systems that will accelerate my growth. I think your better question may have been directed toward asking people who have spent money on trainings, would they do it again? A seasoned investor has invested something to get the knowledge they have and it was either time, money or likely both. I would not spend the money for spreadsheets as that information is all over the place, and syndications are not simple however, one of the benefits about the training is that you are surrounded with like minded people that want to invest in real estate. PM me if you would like to chat. Did you get to the parade yesterday?
2 Reply
James Barnhart
Rental Property Investor · Ocala, FL · Member since 2016 · 226 posts · 140 votes
8y
I didn't pay for a "coach" course as you refer to one. But, I did pay for a local mentor to help me. I had already done a couple of houses, but Joe Jurek, in Orlando, spent a couple of days with me and gave me his phone number if I need some help, and a lot of helpful links and info that he has compiled. I jumped way ahead with my knowledge of RE investing. He has a lot of short videos on YouTube that are "golden nuggets of wisdom" as he calls them.
I think it really helps to get with someone that is really an expert and is successful in doing what you want to do.
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Ronald RohdePro Member
Attorney · Dallas, TX · Member since 2016 · 5k+ posts · 2k+ votes
8y
I pay for broader business coaching. I think its easily worth what I spend 5-figures. its an investment in business and increasing the value of my free time.
*disclaimer, I'm also a guru selling my time and opinions for money!
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Brian Adams
Syndicator of Large Apartment Buildings · Glen Mills, PA · Member since 2009 · 1k+ posts · 1k+ votes
8y
@Skylar Vincent I have spent over $100k on coaches, programs, seminars, self development and will continue to spend money to educate myself.
I have a different view.
If the program or course will accelerate your learning and get you closer to the goals you seek, do your careful due diligence to ensure there is alignment and get started.
Pretty obvious here and I fell into this trap so want to share.
I know when I first started and after I spent money I had, for some reason, a level of expectation that the mentor/coach/guru will do the work for me.
There is no easy button to breaking into this business. Be prepared for setbacks, roadblocks and challenges.
As others have suggested there are cheaper or free options available. Just know if you go free or the paid route you need to put the work in.
4 Reply
Steve K.
Honolulu, HI · Member since 2017 · 247 posts · 315 votes
8y
Originally posted by @Jay Hinrichs:

Ian Ippottio can out with a very good blog on it today...
i must be google challenged today
i cannot find ian's blog on MF
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Steve Vaughan
Rental Property Investor · East Wenatchee, WA · Member since 2014 · 10k+ posts · 16k+ votes
8y
I couldn't do it in a million years, but that's not how I'm wired. I am a DIYer and save myself at least $90k per year doing high dollar tasks on my own. I have also learned not to be a DEYer (Do Everything Yourselfer @JD Martin ;) but that took some time.
My wife seems to always think a 'professional' is worth it yet she is always left hanging. I thought she would learn that psychiatrists and chiropractors jobs are to keep you coming 'back' over and over. LOL Most paid coaches have no interest in you 'graduating' once and for all.
Check references from previous students or whatever they are called. Are your best interests at heart? Will he celebrate your wins or come back wanting more of your next deal for the next level up?
There is value to shortening a learning curve, but I would try some few hundred dollar levels of ed and training from proven pros like @Ben Leybovich and folks like that first. Don't have to go all-in at the beginning.
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JD MartinBusiness Member
Moderator
Rock Star Extraordinaire · Northeast, TN · Member since 2015 · 10k+ posts · 16k+ votes
8y
Originally posted by @Steve Vaughan:

I couldn't do it in a million years, but that's not how I'm wired. I am a DIYer and save myself at least $90k per year doing high dollar tasks on my own. I have also learned not to be a DEYer (Do Everything Yourselfer @JD Martin ;) but that took some time.
My wife seems to always think a 'professional' is worth it yet she is always left hanging. I thought she would learn that psychiatrists and chiropractors jobs are to keep you coming 'back' over and over. LOL Most paid coaches have no interest in you 'graduating' once and for all.
Check references from previous students or whatever they are called. Are your best interests at heart? Will he celebrate your wins or come back wanting more of your next deal for the next level up?
There is value to shortening a learning curve, but I would try some few hundred dollar levels of ed and training from proven pros like @Ben Leybovich and folks like that first. Don't have to go all-in at the beginning.
Ha! Maybe we've got us a new "Who Dey" chant for BP :)
I find a lot of the same issues with "hiring a professional". I understand part of it is just how I'm wired, to do everything myself. But I've also been in that boat so many times that I finally just figured the worst I could do, in most instances, is be out some time and materials, and I would learn something along the way. I don't have any real insight on the value of the OP's teaching class question, but $15k is a lot of money and can pay for a lot of mistakes.
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Skylar Vincent
OP
Real Estate · Oakland, CA · Member since 2017 · 31 posts · 6 votes
8y
@Lane Kawaoka Lane great to see you again! Thanks for weighing in!
@Ben Leybovich Ben how the heck are ya! Let’s connect offline.
@Todd Dexheimer Thank you for responding Todd I super appreciate it!
@Redgy Saint-Germain Redgy I really appreciate you. Thank you!
@Shiloh Lundahl Thank you for your words. I appreciate you taking the time to respond!
@Chris Tracy you make an excellent point. Thank you!
Thank you EVERYBODY!!! You all seriously ROCK!!!
2 Reply
Ben Leybovich
Rental Property Investor · Phoenix/Lima, Arizona/OH · Member since 2012 · 4k+ posts · 4k+ votes
8y
Originally posted by @Skylar Vincent:

@Lane Kawaoka Lane great to see you again! Thanks for weighing in!
@Ben Leybovich Ben how the heck are ya! Let’s connect offline.
@Todd Dexheimer Thank you for responding Todd I super appreciate it!
@Redgy Saint-Germain Redgy I really appreciate you. Thank you!
@Shiloh Lundahl Thank you for your words. I appreciate you taking the time to respond!
@Chris Tracy you make an excellent point. Thank you!
Thank you EVERYBODY!!! You all seriously ROCK!!!
Reach out :)
0 Reply
Skylar Vincent
OP
Real Estate · Oakland, CA · Member since 2017 · 31 posts · 6 votes
8y
@Linda S. Thank you for taking the time to respond Linda!
@Ryan Blake Thank you for the motivation brother!!!
@Paul B. Thank you for responding. You are correct. I am looking to learn how to syndicate multi-family properties. The plan is a 10-20unit to start and build from there. The one-on-one coaching is 15K and then I’d have 90K to use on my own. The coaching is for 12 months. More can be found here: http://www.themichaelblank.com/coaching/ Thank you again Paul.
@Robert Schumacher I appreciate you responding! I’ll PM you for sure. Ya know, I almost went to the parade but it was hot and packed and I went to a bunch of games this season so I felt like I’ve see the team enoughJ Did you make it?
@James Barnhart Thank you for the reply!!!
Thank you all! You’re super helpful. You ALL seriously ROCK!!!
1 Reply
Steve K.
Honolulu, HI · Member since 2017 · 247 posts · 315 votes
8y
Originally posted by :

Here is the article that @Jay Hinrichs spoke of! https://www.therealestatecrowdfundingreview.com/si...
mahalo (thanks) @sklyar vincent
0 Reply
Sherwin Gonzales
Rental Property Investor · San Francisco, CA · Member since 2015 · 236 posts · 156 votes
8y
@Skylar Vincent, lots of different opinions on this topic. Ultimately, I would suggest you base your decision on your comfort level. If you feel uncomfortable getting started on your own, and you can afford 15k, and you feel that would get you to the next level, then do it. However, you can also save that 15k or use it towards your first deal and partner with someone who already has experience and learn like that. The big step is taking ACTION!
Information is not knowledge. The only source of knowledge is experience. You need experience to gain wisdom.
Albert Einstein
Find out where you can put your 15k that will lead you to take ACTION on your first deal!
0 Reply
Paul B.
Rental Property Investor · Dallas, TX · Member since 2015 · 503 posts · 504 votes
8y
@Skylar Vincent
You absolutely need to hear from some current students to decide whether the program is worthwhile. I'm part of another mentoring program and I give that advice to everyone who asks me if that one is worthwhile....come to an event, meet the students who have already paid the big bucks, ask them if it's worth it, then make your own decision. So posting here and asking was the right thing to do, but unfortunately we haven't seen anyone post their first-hand experience with Michael Blank. Have you been networking in your area with others who are already doing what you want to do? They'll tell you how they got into the game.
Coincidentally, there is an event in San Jose next week that might interest you. I'll send you a PM.
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Dennis M.
Rental Property Investor · Erie, PA · Member since 2018 · 6k+ posts · 9k+ votes
8y
Ask Clayton Morris to be your mentor instead . He can show you how to buy slums for ten grand in the hood and sell them as beautiful turnkey 50k homes to unsuspecting out of state investors ! That was a joke
0 Reply
James Wise
Real Estate Broker · Cleveland Dayton Cincinnati Toledo Columbus & Akron, OH · Member since 2013 · 30k+ posts · 20k+ votes
8y
Originally posted by @Skylar Vincent:

HI BP community you ROCK! Thank you for taking the time to read and even respond:)
I'm thinking about paying for some one-on-one coaching with the Michael Blank team.
Has anyone specifically used Michael Blank's one-on-one coaching team and if so did you find useful?
There are some nay sayers out there about paying coaches in general: https://www.inman.com/2016/01/13/pay-real-estate-i...
Thank you BP community again, you seriously ROCK!!!
What are you trying to do that you need coaching?
0 Reply
Skylar Vincent
OP
Real Estate · Oakland, CA · Member since 2017 · 31 posts · 6 votes
8y
@Sherwin Gonzales Thank you Sherwin. Your words are great!
@Paul B. Yes sir been networking like crazy and loving it! Looking forward to touching base in the PM.
@James Wise I’m trying to learn from those that have been successful and will spend time with me working on my goals. Basically likeminded people who have been there before.
You all ROCK!!! Thank you!
0 Reply
James Wise
Real Estate Broker · Cleveland Dayton Cincinnati Toledo Columbus & Akron, OH · Member since 2013 · 30k+ posts · 20k+ votes
8y
Originally posted by @Skylar Vincent:

@Sherwin Gonzales Thank you Sherwin. Your words are great!
@Paul B. Yes sir been networking like crazy and loving it! Looking forward to touching base in the PM.
@James Wise I’m trying to learn from those that have been successful and will spend time with me working on my goals. Basically likeminded people who have been there before.
You all ROCK!!! Thank you!
Then it sounds like hiring a coach makes sense for you. Michael Blank seems like an intelligent guy. Don't see why he wouldn't be a good option.
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Skylar Vincent
OP
Real Estate · Oakland, CA · Member since 2017 · 31 posts · 6 votes
8y
@James Wise Roger that thank you James!
0 Reply
Jeff Greenberg
Real Estate Consultant · Camarillo, CA · Member since 2010 · 2k+ posts · 1k+ votes
8y
There are many of us out here that have paid for a coach/mentor, but it is hard to say what is best for you. Though my attendance at many seminars I have seen thousands of people come and go, Many of them deeper in debt than before.
Don't expect the 15k program to bring about a miracle, that needs to come from within you first. If this business was as easy as many of the guru's say it is, everyone would be doing it. Do your homework, read books, listen to the multitude of podcasts out there. Find someone out there that is doing what you want to do and find out how you can help them. We all have a shortage of time.
"The Gull sees farthest, that flies highest" Jonathan Livingston Seagull. Prepare to learn by educating yourself as much as you can.
2 Reply
David Whitaker
Rental Property Investor · Philadelphia, PA · Member since 2018 · 21 posts · 22 votes
7y
@Brian Adams and @Aaron K. can you provide links/references to online resources that walk you through the nuances of deal evaluation, due diligence, management, etc? I'm considering Michael Blank's coaching, but would prefer to bootstrap my way into syndication. Having said that, while I feel pretty confident in the fund raising part, there are so many critical components of syndication, I would at least like to have a good mentor/coach available on speed dial. Maybe partnering is a way to get that expertise on the team?
0 Reply
Ben Leybovich
Rental Property Investor · Phoenix/Lima, Arizona/OH · Member since 2012 · 4k+ posts · 4k+ votes
7y
I've been investing since 2006. Figuring out syndication was the hardest.
Good luck!
0 Reply
Scott Morongell
Investor · Charlotte, NC · Member since 2017 · 791 posts · 479 votes
7y
@Skylar Vincent did you end up going with Michael's coaching? Would love to hear how it went/is going.
0 Reply
Chuck Knowles
Columbia, SC · Member since 2018 · 5 posts · 1 vote
7y
@Joe Villeneuve
followed by a third one..."a fool and his money will soon part"...
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