To Pay Or Not To Pay...That Is The Question?

20 Replies

Howdy BP Fam!

I am in a dilemma of whether or not I should pay for a somewhat local coach (hour away) to hold my hand through my first year of investing. Here's the details:

I met them (two partners) at a local REIA, exchanged cards and set up a meeting to talk about my goals/their background/what they offer. I got very good vibes from them, and got similar feelings from talking to other people in the group about them. One has been an investor for over 20 years, the other- only a year, but has been involved in the financial world for about eight. They are stepping away from investing to focus more on business marketing/coaching. They sent over a proposal which reads:

1. Free Motivated Seller Site | Wholesale Buyer Site | Rent-to-Own Buyer Site | Commercial

Site | Property Listings (Pro users only) | Land Site

Pro Upgrade only $37 a month includes the following:

 Email Marketing,� SEO Tools, Property Listings,� Blogging Platform,� Ability to create & edit your own pages, No contract-downgrade at any time.

2. Coaching - 3 sessions per month

Systems evaluation and development, business and marketing plan development and implementation, “Inside the business” as well as ACCOUNTABILITY. These sessions are conducted via Skype or Conference call line unless “in-person” is preferred whereas you would come to us. You may trade any 2 unused on-line sessions for a “Live” session on the ground, in your area, scout trip or property viewing once every 60 days or any time I am available for an extra small fee.

3. Access to the best the Most Successful Real Estate Information System (billed separately- $130):

� Search Properties by Equity,� Research Properties, Automate Send & Manage Contracts, � Follow Up in Offers, Find Cash & Retail Buyers,� Foreclosure,� Short Sales,� Tracking,� Market Intelligence,� And so much more

4. Real Estate Mentoring / Consulting Benefits

o Specialized Knowledge / Experience & Expertise

o Deal Analysis

o “Hot Zone” Scouting & Heat Maps (geographical)

o Access to my information, spreadsheets and tools I use to analyze deals & geographic /

demographics

o Advise on lead capture, contracts, contract management, contact management and

automation.

o Extended Due Diligence: Blind spots & Fresh Eyes

o Expertise not available through "regular" channels, i.e. REIA

o Access to my resources normally reserved for my own deals.

o Access to money sources normally reserved for my own deals.

o Economic Diligence: What is happening down the road and how to prepare for it.

o Individual Asset Exit strategies

o Ability to participate in Joint Ventures

o Masterminding Sessions

o Speed of decision making

o Influence of objective “experts” on deal negotiations

o Trustee services

Monthly Outlay for Coaching / Mentoring / Consulting: $1,497.00 per month for a period of 6months. ($8,982)

Monthly Outlay for Coaching / Mentoring / Consulting: $1,250.00 per month for a period of 12months. ($15,000)

An All Up Front Cash Discount of 10% Available if you so desire. ($8,100 -cash up front)

What I want to focus on is wholesaling, which my market is not flooded with but more like in desperate need for. Does this sound like a fair price for a local coach?

Sounds very expensive. What are they offering that you cannot find in the library or on BP? I would take those funds and invest those into RE (my personal opinion only). I am sure there are other experienced investors in your local REIA that would also give some free guidance. Ask yourself how much coaching you need, what areas you feel you need help in, and also see if you can talk to their other clients that can show proven results. Get more opinions before you decide to pass or play.

I agree. I'd see how you do with the learning available to you through BP and books and meeting with other investors (the ones, doing it, not the ones selling training, lol) Most investors love to talk about real estate, and often their friends and family don't particularly want to hear them talk about it! So for the price of taking a few people out to lunch you could learn a lot.

Give it a while learning what you can this way, and then re-evaluate the coaching. Since they are actually in your market (not just giving seminars at the local Holiday Inn and then going to the next town), I wouldn't discount it entirely but I bet you don't need it. You say you want to wholesale -- it doesn't sound like what they do is very focused on wholesaling anyway. So you may end up knowing more about that than they do!

A) I have my doubts as to how worthwhile this service will actually be, versus what you can gleam on your own;

B) If you decide to go forward, *no way* do you pay all cash up front;

C) I would get a serious reference list - at least 5 - and call and discuss with all, in depth, regarding value of services rendered.

"Coaching" - life coach, wealth coach, whatever - is one of the biggest scams going today. I'm not saying these people are scammers, but often they are doing nothing but providing emotional support and links to information already put together by others. Do nothing without thoroughly vetting these people! Repeat: DO NOT PAY ALL CASH UP FRONT!!!

Take that $1500 and start a marketing campaign.  Then in the second month do it again.  2 months later you are $3k in and should have a pretty good idea if you are good at it or not.  There are plenty of resources on this site about wholesaling.  What it really boils down to is your time spent researching it worth the $1500 you are giving to coaches instead? If I couldn't make it on my own with a $3k investment, I would then seek mentorship (or a new niche).

Originally posted by @Brittany Tucker :

Howdy BP Fam!

I am in a dilemma of whether or not I should pay for a somewhat local coach (hour away) to hold my hand through my first year of investing. Here's the details:

I met them (two partners) at a local REIA, exchanged cards and set up a meeting to talk about my goals/their background/what they offer. I got very good vibes from them, and got similar feelings from talking to other people in the group about them. One has been an investor for over 20 years, the other- only a year, but has been involved in the financial world for about eight. They are stepping away from investing to focus more on business marketing/coaching. They sent over a proposal which reads:

1. Free Motivated Seller Site | Wholesale Buyer Site | Rent-to-Own Buyer Site | Commercial

Site | Property Listings (Pro users only) | Land Site

Pro Upgrade only $37 a month includes the following:

 Email Marketing,� SEO Tools, Property Listings,� Blogging Platform,� Ability to create & edit your own pages, No contract-downgrade at any time.

2. Coaching - 3 sessions per month

Systems evaluation and development, business and marketing plan development and implementation, “Inside the business” as well as ACCOUNTABILITY. These sessions are conducted via Skype or Conference call line unless “in-person” is preferred whereas you would come to us. You may trade any 2 unused on-line sessions for a “Live” session on the ground, in your area, scout trip or property viewing once every 60 days or any time I am available for an extra small fee.

3. Access to the best the Most Successful Real Estate Information System (billed separately- $130):

� Search Properties by Equity,� Research Properties, Automate Send & Manage Contracts, � Follow Up in Offers, Find Cash & Retail Buyers,� Foreclosure,� Short Sales,� Tracking,� Market Intelligence,� And so much more

4. Real Estate Mentoring / Consulting Benefits

o Specialized Knowledge / Experience & Expertise

o Deal Analysis

o “Hot Zone” Scouting & Heat Maps (geographical)

o Access to my information, spreadsheets and tools I use to analyze deals & geographic /

demographics

o Advise on lead capture, contracts, contract management, contact management and

automation.

o Extended Due Diligence: Blind spots & Fresh Eyes

o Expertise not available through "regular" channels, i.e. REIA

o Access to my resources normally reserved for my own deals.

o Access to money sources normally reserved for my own deals.

o Economic Diligence: What is happening down the road and how to prepare for it.

o Individual Asset Exit strategies

o Ability to participate in Joint Ventures

o Masterminding Sessions

o Speed of decision making

o Influence of objective “experts” on deal negotiations

o Trustee services

Monthly Outlay for Coaching / Mentoring / Consulting: $1,497.00 per month for a period of 6months. ($8,982)

Monthly Outlay for Coaching / Mentoring / Consulting: $1,250.00 per month for a period of 12months. ($15,000)

An All Up Front Cash Discount of 10% Available if you so desire. ($8,100 -cash up front)

What I want to focus on is wholesaling, which my market is not flooded with but more like in desperate need for. Does this sound like a fair price for a local coach?

 Britney hi I got 30 years experience and I coach one on one

I would advise you to talk to 

@Dev Horn

@Jerry Puckett

Or @Michael Quarles

These three are professional marketing for motivated seller professionals

Remember in Wholesaling there is " a rule of  seven" that means that you have to hit one list of 1000 leads seven times for you getting real meaningful results of actual sales not just phone calls

If you want to do "Just Wholesaling" you got to be willing to spend the money on marketing and wait the seven runs

I don't think new people should do just wholesaling, I think you should also have subject to,  lease options,  wraparound mortgages, joint ventures, and private lending

Good luck!

@Brittany Tucker  I agree with the rest, educate yourself and save your money to get started and invest yourself.  The best way to get going is to find an active flipper in your area who needs help and figure out how you can add value to them while learning some on the job training.  This will be invaluable training with someone who knows your specific area.  If you can add value to the relationship they will give you more and more to do and that will increase your experience and knowledge base.  

What can you bring to the table?  Money, trade skills, time, properties, etc...  Figure out what you have to offer and find someone who is interested in getting some help with their business.  Good luck!

In a word: No.

If they are as knowledgable as they say they are, they would be racing Trump to the top of Forbes, rather than wasting their time on "teaching" people who may or may not ever make a dime.

A better plan is to hunt, search, and find the people on places like BP that are actually making money in this business.

Here's a tip - the people who are the most successful are probably not sharing their secrets openly. You will have to take chances, invest your time, and be pro-active if you want to get ahead.

Good luck :)

To speak to the actual value proposition and pricing, you can get the website stuff from LeadPropeller for 200 a month.

Their coaching is 2X what I would pay for 12-months good one-on-one coaching (via Skype).  The advantage may be that they're local and have good market knowledge and connections.  just not sure it's worth 2X.  I am a fan of coaching if you are new to this business and want to learn from experts.  (And I'm not a fan of weekend guru courses in hotels - they have a 97% failure rate).

"Our own success, to be real, must contribute to the success of others." ~ Eleanor Roosevelt

@Brittany Tucker ,

That $15K would cover 75% of some on-line classes you could get to learn not just wholesaling, but also most of the other strategies currently producing profitable results in today's market. The basic classes cover key elements of entrepreneurship, asset protection and structuring your investing business as well. The classes are available on-line, 24x7 and you would have access to them for as long as you want. The classes are updated as laws and practices change and the list of classes is expanded as new instructors become available. Commercial property investing was recently added, for example. The classes are taught by active practitioners who must earn $1M/yr doing what they teach to qualify as an instructor. There are associated communities of active investors (basically, REIAs) in 11 major metropolitan areas including Boca Raton / Boynton Beach and Weston, FL with whom you can connect, also.

If any of this sounds interesting, let me know.

I would cap wholesaling training to $5k to learn the ropes. I did it and it was worth every penny. It's better to start with one aspect of investing then to try and learn everything. 

Pick a coach who will show you the actions not give you lessons.  You want to have your first deal under contract by day 30. 

It seems very steep.  The 15K you would spend on coaching is 15K you don't have for a down-payment, marketing or other expenses in Real Estate investing.

If you are able to "house-hack" you could probably turn 15K into at least one "buy and hold" property.

Where would I find a program like that @David Sicherman ? I've been turned off from spending a huge lump sum on education just by seeing all the information for free on BP. But something that inexpensive seems doable and worth it!

I was thinking exactly that @Dev Horn ! Once I get my LLC established, I'll build my website with LeadPropeller...is that what you use? Is it user friendly? I'm just not hyped about having to pay $50 every month for it! A lot of websites have a one time payment and that's it.

I agree with you 100% @James W. , I got overly excited at the luncheon with them and while although there is opportunity that I wouldn't have alone... I'd rather spend the extra time and effort in finding mentors that want to help from the goodness of their heart or in return of my service to them!

I turned down the offer because of all your honest advice! Thanks for saving my pocket everyone!

Brittany, you can also join an actual real estate broker that invests in distressed properties, get licensed, learn the business from the inside and get paid.

Originally posted by @David Dachtera :

@Brittany Tucker ,

That $15K would cover 75% of some on-line classes you could get to learn not just wholesaling, but also most of the other strategies currently producing profitable results in today's market. The basic classes cover key elements of entrepreneurship, asset protection and structuring your investing business as well. The classes are available on-line, 24x7 and you would have access to them for as long as you want. The classes are updated as laws and practices change and the list of classes is expanded as new instructors become available. Commercial property investing was recently added, for example. The classes are taught by active practitioners who must earn $1M/yr doing what they teach to qualify as an instructor. There are associated communities of active investors (basically, REIAs) in 11 major metropolitan areas including Boca Raton / Boynton Beach and Weston, FL with whom you can connect, also.

If any of this sounds interesting, let me know.

 I'm interested.

Hi Brittany,

Welcome to BP.

I am new to the RE scenes myself and I completely understand your dilemma. There is so much information and you just want to jump on everything at once. I believe at this point you do not need that type of coaching. BP really does provides the tools to start you off on building foundation knowledge in Real Estate. There are podcasts, blogs, forums, webinars. For example, last night's webinars was on how to successfully utilize this website. I would recommend to sign up for Pro account, you will get access to a LOT of useful information. All you need to do is to create an "education" system and lay out a "syllabus" and follow it. In terms of accountability group - you can create a group yourself. there are a lot of people who would gladly join you from starters to professionals (i am part such group that we have recently started through BP). In terms of LLC - I would not create one until you are ready to purchase property.

Feel free to message me:)

Thank you

Anastasia

Originally posted by @Brittany Tucker :

Howdy BP Fam!

I am in a dilemma of whether or not I should pay for a somewhat local coach (hour away) to hold my hand through my first year of investing. Here's the details:

I met them (two partners) at a local REIA, exchanged cards and set up a meeting to talk about my goals/their background/what they offer. I got very good vibes from them, and got similar feelings from talking to other people in the group about them. One has been an investor for over 20 years, the other- only a year, but has been involved in the financial world for about eight. They are stepping away from investing to focus more on business marketing/coaching. They sent over a proposal which reads:

1. Free Motivated Seller Site | Wholesale Buyer Site | Rent-to-Own Buyer Site | Commercial

Site | Property Listings (Pro users only) | Land Site

Pro Upgrade only $37 a month includes the following:

 Email Marketing,� SEO Tools, Property Listings,� Blogging Platform,� Ability to create & edit your own pages, No contract-downgrade at any time.

2. Coaching - 3 sessions per month

Systems evaluation and development, business and marketing plan development and implementation, “Inside the business” as well as ACCOUNTABILITY. These sessions are conducted via Skype or Conference call line unless “in-person” is preferred whereas you would come to us. You may trade any 2 unused on-line sessions for a “Live” session on the ground, in your area, scout trip or property viewing once every 60 days or any time I am available for an extra small fee.

3. Access to the best the Most Successful Real Estate Information System (billed separately- $130):

� Search Properties by Equity,� Research Properties, Automate Send & Manage Contracts, � Follow Up in Offers, Find Cash & Retail Buyers,� Foreclosure,� Short Sales,� Tracking,� Market Intelligence,� And so much more

4. Real Estate Mentoring / Consulting Benefits

o Specialized Knowledge / Experience & Expertise

o Deal Analysis

o “Hot Zone” Scouting & Heat Maps (geographical)

o Access to my information, spreadsheets and tools I use to analyze deals & geographic /

demographics

o Advise on lead capture, contracts, contract management, contact management and

automation.

o Extended Due Diligence: Blind spots & Fresh Eyes

o Expertise not available through "regular" channels, i.e. REIA

o Access to my resources normally reserved for my own deals.

o Access to money sources normally reserved for my own deals.

o Economic Diligence: What is happening down the road and how to prepare for it.

o Individual Asset Exit strategies

o Ability to participate in Joint Ventures

o Masterminding Sessions

o Speed of decision making

o Influence of objective “experts” on deal negotiations

o Trustee services

Monthly Outlay for Coaching / Mentoring / Consulting: $1,497.00 per month for a period of 6months. ($8,982)

Monthly Outlay for Coaching / Mentoring / Consulting: $1,250.00 per month for a period of 12months. ($15,000)

An All Up Front Cash Discount of 10% Available if you so desire. ($8,100 -cash up front)

What I want to focus on is wholesaling, which my market is not flooded with but more like in desperate need for. Does this sound like a fair price for a local coach?

 Brittany: one last note. You mentioned you want to "wholesale"...which I believe is more appropriately called contract brokering. Watch out that you don't run afoul of FREC and find yourself in legal trouble. You CAN buy and sell contracts. Where the line is crossed (brokering without a license) is advertising a house for sale rather than a contract for sale. If you aren't sure, don't take some guru's word for what is legal or not. Call the state and find out exactly what you can and cannot do without a license. At some point in the future, should you wish to get licensed, having a sustained complaint on your record for unlicensed brokering could jeopardize your ability to obtain one. We have a lot of people in our area playing this game, and many are breaking the law. Eventually, this will catch up to them. There are over 10K agents in just Collier and Lee county...and that is 10K potential people willing to file a complaint for suspected illegal activities. Check out www.myfloridalicense.com for more information. 

@Anastasia G.  

Great Advice!  We have a group of military guys who get together once a month or so in my area and talk about what we are doing at the time.  We work together on projects, fund each others deals, share contacts, etc...  We have some very active people and some who are just getting started.  The best part about it is when you say you are going to do something at the meeting, you know people will be asking you how it went at the next one.  

@Brittany Tucker  If you can find something like this, it would be a great resource.  If not, maybe others are interested in joining you for a meet up in your area and it can grow from there.  Best part about it is that it is free, other than your time.  Everyone seems to want to pay thousands of dollars for the secret to get rich quick, if that is the route you take I hope you find it.  There are a ton of people on this site alone who will help you get there for free.  

Good luck.

@William Allen That is awesome that you have that network there. I am also military, yet I have tried to establish a similar network forum where I am and have had no success. . . I will continue to push forward though. . .

@Josef T.

You can come to our meetings but it may be a long day for you. Good luck and just keep talking about what you are doing, there are other military guys who are interested or possibly doing the same thing. You just don't know it. I bumped into a guy from work at a REIA meeting when I was living in southern MD and I had no idea he had 8 flips going on at once.

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