There are many unscrupulous groups that are trying to convince American investors that the only way to succeed in real estate investing is to pay $25,000+ for private coaching/mentoring. This is a terrible waste of money, and it is a complete fabrication to even pretend that such methods work. There are many reasons why.
Private coaching/mentoring is inefficient
There is nothing you can do in private coaching that you can’t do as a group. There are real estate classes that can give you the correct way to identify, evaluate, negotiate, perform due diligence on, re-negotiate, finance and operate properties (the best of these is CREUniversity.com). Any class or course that has teasers such as “to find out the real answer, you’ll need to sign up for private coaching” need to be avoided. Real experts don’t play games.
Private coaches/mentors have no actual real estate experience
Real experts don’t do one-on-one private coaching/mentoring – they buy and operate real estate with their time. The typical private coach/mentor is somebody who has probably failed at real estate investing and has nothing better to do with their time. And, of course, the problem is that this person has nothing of value to teach you, as they don’t know how to make money with real estate themselves. Just like a doctor, you should always ask the credentials of anyone who gives you advice. With most private coaches/mentors, those credentials are extremely weak.
Private coaching/mentoring has no track record of success
There is absolutely no correlation between private coaching/mentoring and success as an investor. There is not a single major investor in the U.S. that started with private coaching/mentoring. If you’re thinking that spending that $25,000 for private coaching/mentoring is going to give you the advantage you need, think again. It is yet to do so.
The capital you spend on private coaching should be used on buying a property
The correct use for that $25,000 is, of course, as the down-payment on a property to buy. There is no substitute for real-world experience, and you will learn volumes more as an owner than as a student. If you spent that $25,000 on a property – and then lost the entire investment – you would still have many more lessons learned than you would walk away with from a personal coach/mentor.
Conclusion
$25,000+ private coaching/mentoring is a farce. While it’s true that you need to be educated before you buy any real estate asset class, you can do so with reasonably priced courses and classes. You need to spend huge sums on actual properties, not time on the phone with a so-called “expert” who has no real-life experience. When somebody suggest private coaching/mentoring, thank them for their time and run for the hills. True instruction is out there at $2,000 and less. And it’s from real experts. Don’t regret wasting money on personal coaching/mentoring. Be smart and stay satisfied with every penny you spend.