Good coaching put to use pays for itself. Buying coaching doesn't mean you will use it. Just because a program costs $25K doesn't mean it's worth $25. I think it's more important to be active than it is to have good coaching. Once you are moving coaching can guide you to get better.
I would pay 200-300/ month on an ongoing basis. I'm in sales, and I have considered getting a coach. I don't inherently believe in it, I'm more DIY, but there are a lot of top producers in my area that swear by it.
if it increases my income by the tens of thousands then it's worth it! I was talking to a group of very successful agents the other month, and out of the six people, all of them had professional coaches. These agents are making hundreds of thousands/year. Definitely something to consider...
Good coaching put to use pays for itself. Buying coaching doesn't mean you will use it. Just because a program costs $25K doesn't mean it's worth $25. I think it's more important to be active than it is to have good coaching. Once you are moving coaching can guide you to get better.
A percentage of each deal... I have found that a lot of gurus... errrrr.. coaches... promote strategies that sound great on paper.... But dont actually work in the real world.
I have herd that the secret to the game is to be sold and not told. However, I do not believe that many of these folks pitching their program have the purchaser's best interest at hear.
I am sure you are familiar with a book known as "Rich Dad Poor Dad" by Robert Kiosaki, It was such an inspiration to read, I figured I would attend an seminar hosted by them....
Long story short, they had the most slick sales guy I have ever met pitching their product, They wanted some where in the ball park of $12 grand to $25 grand for their support and education.
ermmm no go.
I highly believe that if you are an assistant to someone who is successful and you model their success it will be 10 fold more beneficial for you to learn hands on, rather than from some grease ball who takes folks retirement money for teaching them basics about a business model that (possibly) worked in some other part of the country.
There are a lot of folks out there who are hungry for how to make it, and there are equally enough people claiming to have the secret sauce for sale for just that.
Be careful with you hard earned dollars, and GOOD LUCK!!!!
I am sure you are familiar with a book known as "Rich Dad Poor Dad" by Robert Kiosaki, It was such an inspiration to read, I figured I would attend an seminar hosted by them....
Im sure I will be in the minority on this... but I found RDPD to be the most over-rated book I have ever read.
I'm curious what type of coaching your group was comparing notes on. Marketing is different from acquisitions which is different from rehabbing which is different from rentals. I totally get the idea and benefit behind coaching for anyone in RE sales. But buying is a totally different gig from sales. Buying REOS is totally different from marketing to buy directly from sellers.
I've been doing this awhile and I'm thinking of getting help or coaching, but I'm still trying to hone in on what type of help would be most beneficial. I'm not looking for motivation but rather increased volume of deals.
K. Marie Poe.."increased volume of deals"...Yes, I agree. Broad can be overwhelming...for the past 9 years, I focused on rehabbing SFR for rentals or rent to own, but looking to explore other areas like resells, commercial, etc...RE is unlimited!
K.Marie Poe....2 of the investors who bought were newbies(25K), 1 was experienced.....all others were experienced investor who started without any coaching..
For my money I could see having one of the several successful investors on BP who offer coaching on their specialties help, once you are already involved, to improve what you do. It is likely to be much more cost effective if you understand the basics and let a successful coach show you what you don't yet know. That also assumes working in that area of REI long enough to know it is right for you, which is important.