After 11 years of experience…I disagree!!! - Posted by Todd (MO)
Posted by Todd (MO) on March 17, 2001 at 22:57:03:
I’m afraid I am going to have to somewhat disagree with you on this one. I see many people, especially newbies who come on here proclaiming that all of the seminars and coaching is just useless junk (usually it’s the one’s who can’t afford it who complain the most). And some of it can be if you don’t attend quality seminars or get knowledgeable coaches/mentors.
I have been in this business for the past 11 years and have worked in various areas of it. Aside from that, I have a background in human performance and have studied the differences between entrepreneurs who succeed and those who struggle.
It’s no surprise that statistically, those who attend intensive workshops, and further educate themselves early on…tend to become more successful faster. And those who get a quality coach/mentor skyrocket their success even faster. Good coaches/mentors get phenomenal results by custom tailoring the coaching to the individual. Programs which are more into quanity than quality (such as CS), get minimum results.
Can you do this on your own? YES! Some people can, but most flounder around not knowing where to begin or how and often become frustrated and quit. Then there are the diehard “I’m gonna do it on my own and not spend a dime” individuals. Now, I am not knocking it at all. You can go out and do it all on your own and be proud of your accomplishment. But why try to reinvent the wheel. Back when this country was founded, even the most experienced outdoorsman knew the importance of hiring a guide to show them the way and how to navigate into unknown territory. I have met many who have proudly stated how they started in real estate without a mentor and only an inexpensive book to start. They did it all on their own with minimal expense. Well, that’s great…but the ones who ordered programs / attended workshops / hired coaches, typically blew them away when it came to cashflow and net worth. I have coached people and take it very seriously. I not only teach them about real estate but get into reshaping how they think, believe, and act. People that I work with are financially independent within 6 months, and typically into 6-figures in 12 months. I coach because I love to do it, my “real” income is from real estate.
When I started in this business, I got my hands on everything I could and attended workshops (and I was only making $9,000 a year). Within 18 months I had a six-figure net income from real estate, as well as a six-figure bank account. While dozens of other investors I knew teased me for “wasting” money on programs and workshops. Many were in the business many years longer than I was, and I made far more than they did.
You absolutely can do this on your own, I am not saying that at all. But I am saying that statistically, those who further educate themselves and those who get a quality coach/mentor become more successful faster.
If you ever need to have major surgery, which surgeon would you trust as being better skilled? The one who graduated from Harvard Medical School that took the best, most intense classes from the finest hand-on teachers? Or the surgeon who felt all that was nonsense and just learned it all on their own and didn’t attend school or have a mentor?
Real estate investing is not brain surgery, but there is a benefit to getting the best information, knowledge, and experience you can. And that difference will show up in your bottom line.