Looking for a mentor but many offer paid coaching, thoughts?
Hello,
I am just getting started in my REI journey. I've been reading books and listening to podcasts and following different successful investors online. However, I do still have a lot of questions. I have tried reaching out to some investors to try and get a mentorship, many of them say they offer coaching. What are your thoughts on this? I understand wanting to get paid for your knowledge and experience but a part of me also get a scam vibe from it as well. Anyone here done those coaching before or what are your thoughts on this? Thank you!
Most Popular Reply
#3 1031 Exchanges Contributor
- Investor
- Las Vegas, NV
As the owner of a computer repair business from 1996-2009 I was asked monthly, if not weekly by someone wanting to “work for free” helping to repair computers so they could learn how.
I had to explain to them that I would have to have a qualified technician watch them, instead of fixing computers so they didn’t ruin a customer’s computer. They would have to pay $120/hr for me to “break-even” on the deal.
I am NOT saying pay for coaching or mentoring. I’m a barely B student with a 2 year AA degree and I figured it out before there was a BP while not knowing ANYBODY that owned a rental property. It’s not rocket science. But I am saying while I love talking real estate and helping people for an hour here or there over pizza/burgers, there’s no way I would want to spend my day doing it. Certainly not for a reasonable amount of money.