Helping others retire successfully using - would they pay for it?

Question

I am only a few years away from retiring and use passive income as my source of passive income when I get there. The process to create a portfolio of properties was not easy, took a lot of learning, getting educated and dedication. When I asked on Bigger Pockets as part of a discussion if anybody would pay me to help them, the response was: "if someone wants to get into real estate, they can just go to an agent and get started". I do not agree with that - yes, they could but that is not a full-service approach to all the things to consider. The purchase of "a" property is one thing and services for that are easy to find. The rest if more involved and I still wonder if people would pay me for the service so they don't have to learn it all themselves.

What do you think and what should that service include if you were to consider hiring me to help build your passive income retirement portfolio?

Thanks to everybody who is willing to provide his opinion

Axel

What do you think and what should that service include if you were to consider hiring me to help build your passive income retirement portfolio?

Thanks to everybody who is willing to provide his opinion

Axel

Axel Meierhoefer · Answer

@Bryant Hull I totally agree, although I can imagine that some people might like to have continued service, similar to a home office. I know that normally only applies to very wealthy families or investors, but I could imagine the concept could appeal to some.

Generally though, I agree and the goal would be to not only get on a path to independent retirement free from external dependencies as well as overcoming the hesitation to take the steps necessary independently, without my help or mentorship.

Bryant Hull · Answer

I think it could make sense. I think if you really want to develop and mentor investors you’d want to create a system that weens them from you and provides a way to invest independently from you after 2-3 deals, otherwise, the mentoring looks like a play for equity using other peoples money.

Axel Meierhoefer · Answer

@Bryant Hull I am thinking of a percentage of the deal size. My focus ideally would be on people who have believed in the traditional model of saving in 410K plans and hoping for social security or younger people who are starting to realize that in a gig economy where automation is reducing employment every year, they will have to plan much shorter than the traditional 40-year work life. Sadly our education system does not arm the young folk and the lobbies of the corporations and stock/mutual fund investment firms have been getting the older folks for many many decades. Just this week I spoke to a friend who had kept the tragic death of both parents within a 6 months span a secret until she has gone thru her grieving and is now able to speak about it. Her bank got her a chase investment expert who put all her inheritance into the stock market and she is already down 10% and going crazy with the volatility. I don't even want to imagine what she will do when the next correction hits.

All these kind of situations are of a kind where I could help a lot to use my now established relationships to lenders, providers, accountants, corporate structure developers, tax expert, etc. to use real estate as a long term solution and tool to develop passive income.

For me, it would not be a volume deal but more a personal custom solution that is built on trust.

Bryant Hull · Answer

I think there is value in not paying the “dumb tax” on you’re first couple deals but first deals are when $$ is the tightest for investors so you’d need to find a structure that provides enough value to entice paying for your guidance. What’s your pricing structure a flat upfront fee? An hourly consulting fee? RE gurus had made a lot of money selling their expertise but it’s a volume play.