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?
Specialist · Sarasota/Bradenton, FL · Member since 2018 · 14 posts · 9 votes
7y
@Shane Elias-Calles
1.) You can Just Start by learning how to Wholesale. Complete your first deal and repeat that process until you reach 50-60 completed Deals. Save 50%-70% (or more) of your net income. Then reinvest all of that savings into your first Fix & Hold. Buy low, Fix it Up and Hold.
2.) While you’re completing Wholesale deals you’ll not only find cash buyers/ Investors, you’ll also build a positive professional relationship with them. After you close a few properties with your cash buyers, start reaching out to them and ask them questions about their deals or deals that they would prefer and how they go about accomplishing all the tasks. I’m sure once you’ve given your local investors multiple opportunities to make money most other investors (clients) will be more than happy to answer your questions in regards to Real Estate issues along your journey when you’re ready to drop the coin on a Fix & Hold
Rental Property Investor · Brooklyn, NY · Member since 2014 · 5 posts · 1 vote
7y
@Shane Elias-Calles. Shane, you can read books but when you are stuck and don’t know what to do, the 3600 will be money well spent. The ability to have someone to help you when you need it, is worth the money. Doing this business alone is scary. Spend it and you won’t be sorry. Just my opinion. Good luck!
Rental Property Investor · Redondo Beach, CA · Member since 2018 · 47 posts · 22 votes
7y
@Shane Elias-Calles
There’s nothing you’ll learn there you can’t learn from places like Udemy for $10 or from a local investor for free just by working for them.
I can’t stand gurus and their ridiculous prices for things they can learn for free. Learn from someone local cause that’ll most likely be the market you work in. Learn in the field with their money before you risk your own going in blind
Engineer · Portland, OR · Member since 2014 · 1k+ posts · 1k+ votes
7y
@Pavel Shemyakin I think if you’ve mastered that level of research then you would gain nothing from anyone charging $3600 for paid coaching. But I’m sure you know that, and I agree with your outlook. It seems there are a lot of people who will to pay significant monies for a magic pill.
Investor · Phoenix, AZ · Member since 2015 · 346 posts · 170 votes
7y
@Lori Greene
A student needs to read before passing a test...a student needs to read to see if you like the subject...a student needs to read in order to know the topic that people talk about... a student need to read in order to be successful in life. Read read read. If you want a mentor to show you what he does for a living go for it but everyone’s journey is different and you need to read to understand what you need to do. So just read first...
Bolingbrook, IL · Member since 2019 · 23 posts · 4 votes
7y
Hello, I personally would use the $3,600 for a down payment to purchase the desired property at the right price. You would learn alot more about investing in real estate by purchasing your first property. House hack your first property for your coaching lesson.
Rental Property Investor · Gilbert, AZ · Member since 2016 · 3k+ posts · 4k+ votes
6y
Imagine this. What if you were living in the mid 1800’s and you had heard of gold in the West. You don’t like your current profession in East and you decide that you want to journey out west for a new life. You have some money saved up and you want to buy a wagon and some supplies and head out West. There is a message board in the town square where someone posts that they guide Easterners out west. The guide states that he already has his own gold mines and has a team of people who manages his mines since he likes to travel across the country he leads people back and forth from the East to the West. It takes several months and since he is good at it and helps people find the most efficient an de least dangerous way, he charges a fee for it.
Now, there have been maps drawn of journeys that people have made and a few journals that you can buy and take with you of people’s journeys which will be a lot less expensive. However, the maps and the journals have a hard time predicting where the hostiles are or where the bandits, are they don’t always explain really well what to do when you see them in each situation.
The maps and the journals are cheaper then the guide. Which do you take?
Rental Property Investor · Worcester MA · Member since 2019 · 46 posts · 18 votes
6y
Hey, Shane, I am new to the game like you and listened to Dustin Heiner's whole sales pitch. I would not buy his program - if you're a pro member you have everything you need here for less than $40 a month - you can be a member here for 7.5 years for $3600, and you'll probably want to be whether you use Heiner or not. The books they offer provide great instruction, and the rental calculator is solid. DH isn't going to do anything more than give you a bit of hand-holding (and probably not enough at that). Additionally, 10 years isn't that impressive - if you listen to the BP podcast they have dozens of people who manage that in 5 years or less with no money to start and Heiner did it starting right around 2008/9/10 when any idiot could come out looking like a genius if they knew how to start.
As they mention frequently on the podcast, if mentorship is what you want you can probably find better a better mentor (likely for free) by offering value. I'm currently studying for my real estate license and looking into working for a house-flipping company. Even if your job is fairly time-consuming and you can't sprinkle a little real estate work part-time into it, you could at least begin to form a more well-rounded view of the whole process by creating a step-by-step list of your own gaps in knowledge and attacking them. Try the "Path to Purchase" here:
Really it depends on what you feel like you might need from mentorship, but if it's knowing whether a deal is a good one then you should probably develop your ability to inspect properties for red flags and keep playing with the calculator. I heard Brandon say on a webinar last week that "every property has a home run number" and I think sometimes it might mean you have to piss off an owner or two with your offers but once in a while, someone might take it.
Investor · Austin, TX · Member since 2016 · 531 posts · 310 votes
6y
@Shane Elias-Calles I coach beginners, and I have coaches myself. Every dollar I spent on coaching was not always best spent at the right time. I would make sure there are two things:
1.) Some sort of guarantee. For example mine is if you don't purchase an investment property within 6 months you get your money back. You just have to prove you did the work I told you to do. Most coaches don't have a guarantee which can make it a little skeptical. It does not mean they are not going to work, it just means they are not as invested in your success as you can be.
2.) Would you be spending 3600 in mistakes over the time if you did not have them guiding you? If this is the case, then I would really go for it.