To spend $3,600 dollars on coaching?

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To spend $3,600 dollars on coaching?

Shane Elias-Calles
Developer · Orange County, CA · Member since 2019 · 80 posts · 53 votes

I have been asked to become a student of an investor who retired off of his rental income in 10 years. it is a 6 month coaching program but is going to cost me $3600. can i get some advice? thoughts? 

I currently do not own any rentals 

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John Thedford
Real Estate Broker · Naples, FL · Member since 2013 · 9k+ posts · 6k+ votes
7y

What are you getting for the money? I suspect you can learn everything they offer by reading BP and some good books.

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  • John Thedford
    Real Estate Broker · Naples, FL · Member since 2013 · 9k+ posts · 6k+ votes
    7y

    What are you getting for the money? I suspect you can learn everything they offer by reading BP and some good books.

    22Reply
  • Shane Elias-Calles
    OP
    Developer · Orange County, CA · Member since 2019 · 80 posts · 53 votes
    7y

    He is offering one on one access to him to run contracts, deals and everything else buy him. his philosophy is to help me build my business and then buy properties like putting inventory into a store. 

    his name is Dustin Heiner, masterofpassiveincome.com

    @John Thedford

    3Reply
  • Jay HinrichsBusiness Member
    Real Estate Consultant · Summerlin, NV · Member since 2014 · 45k+ posts · 66k+ votes
    7y

    Although the concept of buying rentals is a fairly straight forward one.. and easily done for those with good credit and some cash.  just keep in mind at this stage of the cycle its not like 8 to 10 years ago.. so you will need a LOT of units to retire on rentals.

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    14Reply
  • Shane Elias-Calles
    OP
    Developer · Orange County, CA · Member since 2019 · 80 posts · 53 votes
    7y

    @Jay Hinrichs thanks jay I appreciate the advice, I do recognize that however I believe the market will correct and some point and provide similar opportunities as 10 years ago but that is just my own personal opinion

    0Reply
  • Danielle Wolter
    Rental Property Investor · San Diego, CA · Member since 2019 · 290 posts · 253 votes
    7y
    Personally, I think you can learn a ton just by making connections with people in the business, reading, listening to podcasts and eventually doing yourself. Will someone walk you through it step by step? Probably not. But is 6 months of "mentoring" going to show you everything you need to now about investing? I doubt it. There is a huge wealth of information on this site. And honestly, if you're nice to people, and work to create mutually beneficial relationships, there will be people who help you. I've met so many incredibly generous and helpful people already. Save your cash for your properties. That's just my 2 cents.
    19Reply
  • Lori Greene
    Specialist · Huntsville, UT · Member since 2015 · 458 posts · 249 votes
    7y
    Originally posted by @Shane Elias-Calles:

    I have been asked to become a student of an investor who retired off of his rental income in 10 years. it is a 6 month coaching program but is going to cost me $3600. can i get some advice? thoughts? 

    I currently do not own any rentals 

    Getting out there in the real world, working on real deals with an experienced local investor, partner or a mentor will teach you more than reading. It's great to familiarize yourself with various strategies by reading. But the only way you truly learn is by doing.

    6Reply
  • Shane Elias-Calles
    OP
    Developer · Orange County, CA · Member since 2019 · 80 posts · 53 votes
    7y

    @Lori Greene

    Yes i have noticed in networkign that people really do want to help if youre genuine and honest and provide value. I am in the process of building an out of state team and noticing that it become a snow ball effect once you take action to start connecting with people. 

    Thanks,

    Shane 

    5Reply
  • Lori Greene
    Specialist · Huntsville, UT · Member since 2015 · 458 posts · 249 votes
    7y
    Originally posted by @Shane Elias-Calles:

    @Lori Greene

    Yes i have noticed in networkign that people really do want to help if youre genuine and honest and provide value. I am in the process of building an out of state team and noticing that it become a snow ball effect once you take action to start connecting with people. 

    Thanks,

    Shane 

    Yes it's true. And I also find the same with sellers. If you really care about them and really try to help solve their problems, they are much more willing to deal with you.

    0Reply
  • Mario Am
    Specialist · Nashville, TN · Member since 2019 · 187 posts · 83 votes
    7y

    @Shane Elias-Calles

    In what particular area will he be coaching you about?

    Whole-selling? SFR? MHR? Flipping?

    To be honest the way I see it, RE is pretty simple, but some mistakes can be done.

    I do not think podcast and online material is enough.

    The way I learned is through books, I have 10 books that I bought in amazon about every single RE subject, so 70% of what I learned is through that, those cost me 200$ total.

    If you have lot of money on the side you can pay the 3600, if not - you do not need to, I wouldn’t.

    Try reading books (not online) and trust me a 200 page book will soak in your head very well, if you feel like that isn’t enough, go to the mentor.

    3Reply
  • Matt Pastier
    Real Estate Agent · Central Florida · Member since 2013 · 118 posts · 102 votes
    7y

    @Shane Elias-Calles I agree with @Lori Greene. You need to understand the fundamentals, and you can get that for free on BP or by buying books. Once I started taking action and bought deals my knowledge grew exponentially. I don’t know this person offering his services, but even if he’s great $3600 almost covers the closing costs on your first deal so personally I’d save the cash.

    3Reply
  • Account Closed
    Investor · Cleveland, OH · Member since 2016 · 118 posts · 147 votes
    7y

    @Shane Elias-Calles - you don't need a paid coach in this business. You need mentors (who will help you for free) and a team around you that can execute. The best experience you can buy is actual experience buying property with that money. Don't give it to some guy who allegedly retired on his real estate. If that was truly the case he'd be helping and mentoring for free instead of running a coaching business (essentially he is not retired on real estate). 100% don't do it.  

    3Reply
  • Chris MasonPro Member
    Moderator
    Lender · CA · Member since 2015 · 9k+ posts · 10k+ votes
    7y
    Originally posted by @Shane Elias-Calles:

    I have been asked to become a student of an investor who retired off of his rental "coaching" new investors income in 10 years. it is a 6 month coaching program but is going to cost me $3600. can i get some advice? thoughts? 

    I currently do not own any rentals 

     Fixed a typo for ya. :P

    BP and other similar websites have everything you need. The only folks that need "coaches" are those that aren't self-starters and need someone to kick them in the behind to do things. For those folks, that's not crazy. 

    7Reply
  • Kevin Leonce
    Investor · Atlanta · Member since 2016 · 57 posts · 54 votes
    7y

    The best lessons are learnt by getting involved and doing. BP has tons of information and a vast network where you can meet other investors, contractors and everyone involved in the real estate business.

    If it's rental property you want, then connect with other investors in your area who are doing and have done what you want to do. Research them and figure out a way to provide some value to their business. In exchange you'll get the best education you can find. 

    3Reply
  • Dennis M.
    Rental Property Investor · Erie, PA · Member since 2018 · 6k+ posts · 9k+ votes
    7y

    Running rentals is not rocket surgery and you don’t need a mentor for that in my opinion it might be helpful when you hit snags but the concept isn’t very complex ..that being said ,there are other strategies in RE that I would consider enlisting a mentor for . The easiest way to get going is to copy others that have already done it successfully and without us actually knowing what exactly this fella is teaching and offering it’s hard to say if it’s worth the money . If it takes 3600 bucks to have skin in the game and get you iff the sidelines then it may be the best money you ever spent

    4Reply
  • Alexander FelicePro Member
    Guy with Great Hair · Austin, TX · Member since 2013 · 2k+ posts · 4k+ votes
    7y

    How much are you networking locally? How much time have you spent learning yet. 

    There is a big ramp up in education before you feel comfortable with real estate, but it's NOT complicated.  

    There is no secret to real estate, there is very little a coach can teach you that you can't learn for free online. Most people just want it to go FAST and they get lured into these programs. Unfortunately real estate is kind of a slow game for pretty much everyone. 

    I would spend a lot of time meeting your local investors first, and spending time networking on BP and exhaust the free resources as much as you can. These paid-for guru's wouldn't be selling these programs if they were making real money in RE.

    If their real estate was going so well they would spend time on it making money, instead they prey on the naivety of beginners

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    3Reply
  • Pavel Shemyakin
    Rental Property Investor · CA · Member since 2018 · 135 posts · 174 votes
    7y

    Coaching can certainly have value. You gotta ask yourself these two questions:

    1 - Am i at the stage where i require coaching / advice that i cannot get for free?

    2 - What is this going to cost me in proportion to what i have to invest?

    I'll use myself as an example.....

    1 - Do I know everything there is to learn? NO. Have ai learned everything BP has to offer? NO. Have i learned everything YouTube has to offer? NO. Therefore, there is no need for me to pay someone to hold my hand. Once I feel more sophisticated and increase my portfolio - i will consider hiring somebody to refine my tactics. Besides, I will get much more for my money because at that point the mentor will not have to explain the basics.

    2 - I currently dabble in 150k-300k price range. For me to spend $3600 on info i can acquire on my own would mean i am spending an equivalent of 1.2% of the purchase price (300k property). Thats a good chunk of money that can go toward closing costs / repairs. On the other hand....... If i found myself on a receiving end of a crazy wind fall and had a million dollars in cash sitting in a bank account (i know for many on this forum a 1mil is peanuts, not me), i would HAPPILY spend $3600 on education because at that scale this money would have high ROI.

    Just my 2c.

    2Reply
  • Ariel Castillo
    Rental Property Investor · New York, NY · Member since 2019 · 27 posts · 6 votes
    7y

    I would get more details on what you are getting for $3,600 ? Access to his contacts ? The bankers , the contractors, etc., Yes you can network and get these on your own. But helping you get a deal on your first property is worth it IMO. Also maybe you can work out a deal , pay $1,800 for 3 months and another $1,800 if you want to continue.

    1Reply
  • Shane Elias-Calles
    OP
    Developer · Orange County, CA · Member since 2019 · 80 posts · 53 votes
    7y

    Hello everyone, thank you for all of the advice and help. 

    let me just say that i am not looking for a free way out or anything like that, i have taken quite a bit of action in terms of education and getting involved. I have found a real estate agent, lender, and property manger in my area, as well as a solid contractor in my area.

    so i am moving in the right direction. i ask this question because i feel as though i can figure it out myself and that cash can be used in a more efficient way besides adding an expense to my budget.

    however if he can provide me value by structuring a deal and saving me that much money then it may be worth it. 

    Im wondering if worrying about 3600 bucks is too short sited considering that could be chump change in the long run.

    hope this helps the group know where im at. thanks 

    1Reply
  • Kyle Nelson
    Polson, MT · Member since 2017 · 115 posts · 105 votes
    7y

    @Shane Elias-Calles

    Turn the table on him and tell him you’re willing to accept his offer for free and the incentive for him should be that if he does a good job of coaching you’ll make him alot more than $3600 in the long run.

    3Reply
  • Ola Dantis
    Multifamily Syndicator · Houston, TX · Member since 2016 · 1k+ posts · 2k+ votes
    7y

    @Shane Elias-Calles First, you need to "Know Thyself". Because if you need someone to keep you on track while showing the ropes, then perhaps you need a coach, an accountability partner. 

    On the other hand, if you are one of those who can go all-in on their own without much guidance then you can pretty much learn how to buy rentals online on your own. 

    1Reply
  • Karen Jackson
    Specialist · New York City, NY · Member since 2019 · 39 posts · 36 votes
    7y

    @Shane Elias-Calles based on what you just said it seems like you’re on the right track. Don’t second guess or doubt yourself. You don’t need him to align any deals for you. Everything is so readily available online and you also have BP as a great resource. Do your homework and Connect with someone on here that can assist. And if you’re working with a good realtor they should be able to assist you with structuring your deals and finding you great deals too. You can also get down and dirty and do drip mailers, door knocking, bandit signs etc to find deals too.

    Personally, a lot of what these people are offering in these master classes is very common sense. They are just selling their skill and you already got it in you! If you really want to do it see if he offers another package that cost less and see if it’s actually worth the guidance.

    0Reply
  • Jermell Shavers
    Member since 2019 · 295 posts · 159 votes
    7y

    @Shane Elias-Calles. Me personally you have us on BP and it’s a very straightforward process depending on your strategy. Buy one small house or duplex below market value rehab it and there you go rental money cash flow. I’m not very technical but I do buy and hold and don’t worry about much. I don’t do flips as of now I buy C class properties have my contractor go in there get it done I do the hvac myself and when everything is done I get my PM to market it and rent it and anything else that pops up. Don’t pay that amount of money for knowledge you have google BP and other things I would think that connections are more important and not a 3600$ connection either lol. Plus another thing to think about is his knowledge is good but it’s old his methods may not work in this day and age JS

    0Reply
  • Jim Chuong
    Rental Property Investor · Toronto, Canada · Member since 2012 · 102 posts · 95 votes
    7y

    @Shane Elias-Calles all the information is available online for free. If you’re too lazy to dig that up there’s no way any coaching or mentor can help

    0Reply
  • Shane Elias-Calles
    OP
    Developer · Orange County, CA · Member since 2019 · 80 posts · 53 votes
    7y

    @Jim Chuong

    My work ethic has never been in question here. I believe in myself and that I will figure this whole thing out.

    The point of this post was never because I doubted myself but rather to see if a coach would expedite my portfolio growth faster than I could myself.

    Thanks again everyone for the feedback I really appreciate the encouragement to just keep

    Going and knowing I’m on the right track !

    1Reply
  • Shane Elias-Calles
    OP
    Developer · Orange County, CA · Member since 2019 · 80 posts · 53 votes
    7y

    @Karen Jackson

    Thanks for the encouragement Karen ! I appreciate it, and I’m just gonna keep putting my nose to the grind stone !

    1Reply
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