Wondering if you should hire a real estate coach? That’s what you’ll learn in this article.
If you love the idea of getting into real estate so you can do things like:
- Build a side income (without having to get a second job)
- Have the option to retire early
- Spend more time doing things that matter to you outside of work
Just know it’s possible. I’ve done it as an investor, and I help others do it too.
Want to learn how hiring a real estate coach could help? Then, keep reading.
Key takeaways:
- Getting an experienced coach could save you time and money
- Be wary of “experts” who can’t prove they’ve been successful
- Save up enough for a downpayment before getting a coach (typically 15%)
- Coaching helps you be successful, but it doesn’t do the work for you
Is a real estate coach worth it?
Let’s start with a quick definition: a real estate coach is someone who uses their experience to guide people toward their real-estate-related goals.
Before we go further, there are actually two kinds of real estate coaching to know about: coaching for people who want to be real estate agents and coaching for people who want to invest in real estate themselves.
If you want to get coaching on how to become a real estate agent, make sure to work with someone who specializes in helping agents in particular.
In this article, I’ll talk about getting a coach for investors specifically.
Okay, with that out of the way, should you hire a real estate coach?
The answer is it depends. What are you aiming for? What are your expectations?
Remember: getting a coach isn’t a get-rich-quick scheme. It won’t help you go from zero to six figures overnight. If you want results, you’ll have to put in the work (and more on that in a minute).
But there are a lot of pros to hiring a real estate coach, which I’ll cover now.
Pros of a real estate coach
While there are many benefits to hiring a real estate coach, I don’t want to overload you. So, here are the main ones.
You tap into their experience
I know firsthand that investing in real estate without any help from a professional is tough. Since you have to figure everything out yourself, you won’t always know what to do.
And sure, there are a lot of great resources out there to learn about investing. But those will only get you so far, and expensive problems can appear out of nowhere.
For example, when I first got into real estate, I was so eager to buy my first investment property that I made a rookie mistake: I bought a house without getting it inspected first.
The result?
Late one night, I got a call from my tenant saying sewage was coming in through the kitchen sink.
Long story short, I ended up having to pay tens of thousands of dollars in unplanned repairs just to get my property back to rentable condition. If I’d had a coach, I probably wouldn’t have wasted that time and money.
So, keep in mind that choosing an experienced real estate coach is an investment that can save you a lot of headaches long term.
Wondering how to choose the best? I’ll explain what to look for in a bit.
You might get faster results
Nothing is better than working with someone who knows exactly how to help you grow your investment portfolio because they’ve done it themselves. And when you work with an experienced coach, that’s what you get.
So, even if you’re a total newbie, you’re still more likely to get faster results than if you tried to invest on your own.
Take my student, Kali, as an example:
She wanted to get into real estate investing but wasn’t sure how to start.
Thanks to coaching, she gained confidence in her abilities and finally took action toward her investment goals. And now? Her rental property brings in $4,200 every month.
So, remember: successful real estate coaches have a wealth of experience to share about what works and what doesn’t. I was a real estate investor long before I became a coach. And that’s how I’m able to help people like Kali get results.
You could get a better ROI
I’m guessing you don’t want to waste your time trying to figure out if a property would be a profitable investment or not. Your goal is to make a profit, not get overwhelmed by options.
And that’s where having a real estate coach can make a difference. Instead of stressing over picking the right property, you can let someone who’s done it themselves show you the way.
How does that directly translate to a higher return on investment (ROI)? Because you’ll be able to avoid buying properties that aren’t valuable, which will help you reinvest and scale faster.
That’s not just talk, either.
One of my students, Chetan, got tenants for his first investment property in just a few weeks. Thanks to that initial success, he bought a second investment property and is growing his monthly cash flow to $3,300+.
You can hear about his experience in this video:
Because I’d already successfully scaled my own investment portfolio, I knew exactly how to help him get a better ROI.
So, now we’ve explored some benefits of hiring a real estate coach. But what about the downsides? Let’s take a look.
Cons of a real estate coach
It would be great if there were no drawbacks to hiring a real estate coach. But unfortunately, as with anything, there are.
So, with that in mind, here are some cons to know about before you hire a real estate coach.
You risk getting scammed
Coaches and self-proclaimed “experts” aren’t always honest about what they can offer.
So, how can you tell the difference between someone who knows what they’re doing and someone who doesn’t?
Here are a few things to look at:
- Real-world experience
- Testimonials
- Certifications/training
So, for example, a coach who actually knows what they’re doing won’t have any difficulty proving they’ve succeeded themselves.
In my case, I’ve been featured in major media outlets like Business Insider, which helps build my credibility.
Testimonials are also important.
Be wary of “experts” who can’t offer any indication they’ve helped real people reach their goals. If they can’t, it usually means they’re just getting started as coaches, or they don’t know how to coach people effectively.
Regardless of the reason, hiring someone without knowing if they’ll be able to help you is risky. My advice? Pick a coach who has proven experience.
You could lose your investment
As I said earlier, getting a real estate coach is an investment, just like buying real estate itself. And any investment involves a certain amount of risk.
I talk about those risks (and how you can avoid them) in this video:
Remember, even if you work with a great coach, you could still lose money because investing isn’t always predictable. The good thing is you can minimize your risk.
First of all, if you work with a coach, pick the right one. Beyond making sure they know what they’re doing, also check that they can help you with your specific goals.
Even within real estate, there are different niches, so it helps to find someone with proven experience doing the kind of investing you want to do.
For instance, I specifically help people who want to invest in student housing and rent by-the-room because that’s my area of expertise. And because I was an investor long before becoming a coach, I’m able to give my students the practical guidance they need to get results.
So, how can you get the most out of coaching and avoid losing money?
Here are a few tips:
- Be ready for the commitment: Working with a coach can give you an advantage because it gives you direct access to an expert. But it also means you’re responsible for being actively engaged in growing your portfolio.
- Do the work your coach recommends: Coaching is about paying someone who can help you find answers and keep growing, even after the coaching program is over.
- Build up your investment savings before getting a coach: So, if you want to buy a single-family property investment, you should have at least 15% to put down as a down payment.
What’s next?
Okay, there you have it! Now you know whether you should hire a real estate coach.
As with anything, there are pros and cons involved.
But with that said, if you do your research and pick the right coach for your needs, you could save time and scale your real estate portfolio faster.
Want to invest in student housing specifically?
As I mentioned, I specialize in student housing because renting individual rooms helps me maximize my ROI.
If you want to do the same, you can reach me here.
