Options and recommendations for a paid multifamily mentor/course

19 Replies

I know there are people with strong arguments for and against paid mentorship/courses and I would love to hear both sides.

Is there a multifamily mentorship program or course that helped you to take action and cutout mistakes you would’ve made with out the proper guidance?

If you are against paid course/mentorship, I’d love to hear how you were able to start in the multifamily space organically.

Thanks!

@Hayden Wright I'm generally for paid mentorship/courses.  I took courses with RE Mentor in 2017 and 2018 and have nothing but good things to say about them.  I never took mentorship with them (or anybody else), but there are definitely many good mentors out there.

Hey Hayden, I'm generally a proponent but I think it depends on your personal situation and your disposition. Some people are able to get education on their own and then jump into the fires to learn more from there. Others end up in analysis paralysis, educating themselves forever. Also, if you only have $100k to invest, I wouldn't suggest spending 20-30% of that just for education. Feel free to DM.

Paid Mentorship.

You cannot recover lost time by learning the wrong ****, you can however recover capital.

The question I have for you is what are you actually looking to grow in, there several disciplines to your subject header where you may want to have more than just one mentor or advisor.

Cheers

There are lots of mentoring programs out there. 

Jake & Gino

Think Multifamily

Brad Sumrok

Tim Bratz

Michael Blank

Are all ones you should check out. 

Each of these groups have a certain “culture”. You need to find a “culture” that fits you - that aligns with your values amd life perspective. 

In addition, what are your goals?

Do you want to do 2 or 3 $5M deals a year?

Do you want to do $50M deals?

What do you want? Where do you see yourself fitting in? 

Do you want to develop a large syndication company or do you want to partner with two or three buddies and do some deals?

National to stick close to home?

The mentor that was right for me or for @Charles Seaman may not be the right mentor for you. 

Hope this helps. 

@Hayden Wright   Some good comments and suggestions here from @Charles Seaman , @Michael Le , @Paul Hanchard and @Arn Cenedella .  I'd suggest you also contact some of these commentators to get their private thoughts.  Some of us have experience with several of the mentors/coaches and/or their students and have some feedback that might be helpful to you.  

Another suggestion is, if you decide to use a mentor and after you have narrowed your candidates, try to attend an in-person event where you'll get to know the mentor and their students better.  You can ask others what they think of the mentor's program and ask them why they joined.

I haven't used a mentor myself, but I'm sure I would have benefitted from being in the right program.  You are doing the right DD, Hayden.  Good luck to you!

@Hayden Wright where do you see yourself within the syndication team? Do you see yourself doing the analysis, acquisitions, asset management? Or do you see yourself raising money, and talking to investors. You want to determine this first, and then find a program that excels at it.

@Paul Hanchard that’s a great point Paul, I hadn’t thought of it like that. Do be more specific, I’d like to learn more about how to analyze, structure and negotiate smaller multifamily deals. I believe I have a good understanding of how to get deals coming across my desk and how to raise money, I’d like to learn more about what happens after I find a deal worth my investors money.

Thank you for your response, Paul!

@Hayden Wright what are your goals? What investing outside of the stock market have you done ? What team have you already built ?

Do you want hand holding ? Accountability? Guidance ( coach specific doesn’t matter which program you pay for / every human is different ) how much capital do you have over and above what you want to invest with ? ( no need to answer this one publicly, just know what percentage of your capital will be used for education / coaching )

@Hayden Wright I agree with alot of the dialogue that brought you to your articulation of what it is you want to learn more about. If you're passionate now about "small multi family" then there are a ton of resources for analyzing, structuring, and negotiating those types of deals all over for free. The best teacher is getting in the fray and learning in real time, in that space. If you find yourself veering into other spaces or considering new endeavors then maybe you're ready for a coach/course geared toward that specific space (ie large multi family, mobile home parks, etc). A possible way to realize significant personal and professional growth would be to seek a few strategic partnerships in the small multi family space and get to work. Six months from now you will be more knowledgeable, have done some deals, and be considering what some bigger things for your future could look like.

Originally posted by @Hayden Wright :

I know there are people with strong arguments for and against paid mentorship/courses and I would love to hear both sides.

Is there a multifamily mentorship program or course that helped you to take action and cutout mistakes you would’ve made with out the proper guidance?

If you are against paid course/mentorship, I’d love to hear how you were able to start in the multifamily space organically.

Thanks!

 I would be extremely selective if you pick one. There are many programs out there now because mentoring is a huge business. Some may make more from coaching than they do real estate. Just know they are 100% not needed but they could also help achieve your goals. 
A better route in my opinion is teaming up with an experienced operator by adding value to them in some way. 

What's up Hayden! Hope all is well. 

There are lots of mentorship and courses out there. In my opinion, most of the general information is online for free. You can get these through podcasts, books like Joe Fairless's Best Ever Syndication Book, or by networking and getting on calls with people. Building relationships is what what helped me the most. This you can do for free, just find creative ways ton bring valuable people value. 

As we discussed on your podcast, we did join a group. What we got out of it was the network and a mentor who was willing to partner on deals with us. He was there to answer any and all questions and we were able to tap into their network + the network within the group to increase our deal flow as well as ability to close more deals (capital, asset management, KP, EMD, ETC).

The group that will be best for you depends on your situation. You have my number, so feel free to text me if you want to talk more about this. It is a big decision- but I was able to find a group that helped me cut out unnecessary mistakes and I can confidently say that I was able to leap forward with all of the resources and connections I was able to gain from joining. 

Best of luck!

As you have read there are so many choices when it comes to paid mentorship.  The important thing is to decide what you want to accomplish first, second I would dive into the mentors free-content to see if you mesh with their culture.  

Personally, I am a fan of Jake and Gino but I have looked at several I would be happy to jump on a call and discuss the pros and cons of each and what my experience has been.  

If there is one thing I wish I have done earlier is to find a great mentor. Luckily I pulled the plunge and joined Jake and @Gino Barbaro and the Wheelbarrow Profits community back in 2017. That was a life-changing move!! 

In my experience, there is a limit for how much momentum you can pick by going it alone. 

As one of my good friends J Bird likes to say, you "Pay to Play or Play to Serve" 

@DJ Tosh that’s great advice thank you! And that’s actually something I’m working on now, each of my podcast guest I do my best to keep up with so that when find something I have a group of people to bring a deal to.