http://www.REIClub.com - Is a Real Estate Mentor Necessary To Be Successful As a Real Estate Investor? Here's How You Can Decide If Real Estate Mentoring Is Right For You.
Hi, this is Frank Chen with REIClub.com, the only site you need as a real estate investor. Today I've got quick video on Real Estate Mentors and if it's right for you.
Many investors contemplate whether or not they need a Real Estate Coach in order to succeed in real estate, but in order to decide, you need to first ask yourself these questions:
- Are you investing passively, or looking to make this into a full-time career?
- How much time/money have you spent on your real estate education?
- What are my goals as an investor?
- What is the one thing I want from real estate investing?
- How familiar am I with the current real estate market?
BENEFITS TO REAL ESTATE MENTOR:
- Accountability - schedules, weekly goals, form successful habits etc...
- Focus - Stay focus on tasks, help manage your emotions
- Guide you step-by-step through the purchashing and selling process
- Learn from their experiences
- Multiple ways of approaching offers
- Structuring Contracts
- Marketing and lead generation
- Structure Closings
- Exit strategies
- *Business systems
- Access to Contacts - title companies, realtors, brokers, lenders, contractors, etc...
As you can see, coaching covers 99% of the real estate investing process, and whether you are new or experience, you can benefit from it.
QUALIFYING REAL ESTATE MENTORS:
- How long have you been investing? - cycles
- What's your specialty?
- Is the mentor actively investing or just coaching?
- How many transactions has he completed? Recently? - verifiable properties
- How many students do they currently have?
- Whats the average time it takes for one of your students to purchase their first deal using your program?
- Do you have students I could contact?
COSTS FOR REAL ESTATE COACHING / MENTORING:
- Costs can vary - coaching programs can range from hundreds of dollars to several thousands.
- Frequently paid ALL upfront
- Monthly Installments
- Half now/Half at closing - portion of closing goes towards remaining balance
- Partnering - split profits
Every mentor differs in how they structure payments so be sure to research and choose whats most manageable for you.
I hope this video cleared some of the fog up about Real Estate Mentoring. There are tons of real estate coaching programs out there, and it is incredibly easy to get lost in the mix. Use these tips, do your research, and find a program that fits your needs.
Again, this is Frank Chen with REIClub.com. Please take the time to leave your comments for this video below and please subscribe to our YouTube channel so you'll be automatically notified when we upload more quick video tips for you. Take care and good investing.