Mentoring/Coaching - Posted by donna

Posted by Joe on September 18, 2004 at 14:46:38:

I’d would just recommend being careful. It could work, but I’ve seen some out there I don’t like, and secondly, you could be better off if you could find local mentors. Possibly find them wholesale deals, be a “bird dog,” or whatever. The mentor programs could either work by phone or email, so you would need for them to tell you the specifics.

Mentoring/Coaching - Posted by donna

Posted by donna on September 18, 2004 at 10:53:56:

I am considering enrolling in a mentorting/coaching program. I’ve never done anything like this before. They do not want anything from the deals, just $1,000 upfront fee. How do these programs usually work. Is it done over the phone, by email, etc. Any help would be appreciated.

Re: Mentoring/Coaching - Posted by Clair-MO

Posted by Clair-MO on September 19, 2004 at 08:40:43:

Donna, Where are you located? Where is the mentoring/coaching program who is sponsoring it? Do they have references of former students who are successful in doing real estate investing with their help? Do the mentor/coach guarantees that you will purchase something? I have been mentoring others for over 2 years now and I don’t guarantee anyone that they will purchase anything as a mentor I give them the tools and lifetime consultation over the phone to guide them along the way. I am very proud that one of my mentees had his success story written in the Success Stories on this site, Jermil-IL. For the information to the owners, I am not solicitating anyone from this site to join my mentoring program. I am illustrating a point of view that one has to be careful when they pay someone to mentor them that they will gain the most benefit from the training. I need to state again, be careful whom you get as a paid mentor. There are many sharks and con-artists who say that they are mentors but can’t back it up with references from successful students. Donna, You can get the same training right here for free by reading, studying, and applying principles you learn in the real world. And I will highly recommend that you join the chat room and speak with the experienced investors there.

Re: Mentoring/Coaching - Posted by Ron

Posted by Ron on September 18, 2004 at 18:55:12:

I think a mentor can be invaluable but a paid mentor is usually not the best way to go. For sure, someone local, who can meet with you personally is best.

Also, it would depend on what sector of the market you are interested in because someone w/expetise in raw land would not be the best mentor if you are going to invest in multi-family.

Also, what are your goals? Why do you want to invest in RE and what do you hope to accomplish? Your answers to those kinds of questions will go a long way towards defining what type of RE you invest in.

For example: If you want to produce spendable income, then you obviously wouldn’t invest in raw land, generally speaking.

A mentor could be helpful in helping you to define your goals; just that is invaluable but make sure you get someone w/a track record. Ask for a list of previous clients and contact those individuals for their opinions/experinces.

Sooner or later, though, you need to get your own feet wet. Good luck.