Podcasts Business Flipping America Flipping America 443, Hire a Coach

Flipping America 443, Hire a Coach

Published: Jan. 16, 2021, 5 p.m.

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The number one question we get is \\u201chow do I get started in real estate investing?\\u201d Here is the answer I give everyone:

  1. Get information
  2. Get a coach
  3. Get going

Today I\\u2019m going to talk to you about how to select and hire a coach. Plus, coming up in a few minutes in our annual \\u201cBest-of\\u201d series, I\\u2019m going to share with you the best places this year to invest in multi-family. I\\u2019ve done the research, I\\u2019ll link some articles, and then you will know.\\xa0

How to contact us

www.RogerBlankenship.com. Leave a voicemail right from the home page!

Facebook.com/flippingamericamedia

Twitter and Instagram @FlippingAmerica

Call our National Comment Line: 877-55-ROGER (877-557-6437) \\xa0 ext 1. Leave your message or your question.\\xa0

Email your questions to questions@rogerblankenship.com. Please always tell us where you are from. We like to know where the show is being heard. And let us know how you found out about us if you don\\u2019t mind.\\xa0

Sponsors

American IRA: www.americanIRA.com

The Flipping America Buyers Club bit.ly/flippingamericabuyersclub

Announcements:

  • We\\u2019re kicking off a new round of coaching in January. In six months I will tell you everything you need to know about real estate and real estate investing to set you on the path to financial freedom and generational wealth. My coaching program starts with a one-on-one interview with you and based on the person you are and your life situation, we develop and agree on a real estate strategy that fits you. You then have access to a series of online training courses to provide content and context. And nearly every Wednesday evening there is a group coaching call. Whether you want to own income properties, flip houses, or invest passively, we have a proven plan that\\u2019s right for you. Go to bit.ly/sixmonthcoaching and sign up today.\\xa0

News: Best Places to Own Multi-family

Topic: Hire a Coach

Topic: The Top Ten Ways to Know Your Real Estate Seminar is Actually a Con:

  1. The \\u201cnationally known\\u201d guru is not in attendance.\\xa0
    1. Whose experience is being taught?\\xa0
    2. Who has the experience to be able to credibly answer audience questions?
    3. What is the actual experience of the presenter and can it be verified?
    1. Where is their headquarters?
    2. Who is the person or persons behind this company? Someone did the work to gain the experience to teach.
    3. This can be taught from a curriculum and a powerpoint, but the most polished professional who is also inexperienced cannot truly serve a real estate audience.\\xa0
  3. The name of the company behind the event is vague, not mentioned, or purposely mis-leading.\\xa0
    1. Does he or she provide addresses of actual properties flipped?
  4. The Presenter\\u2019s real estate credentials cannot be easily verified.\\xa0
  5. The Presenter does this presentation more than once a month. If they travel and do this presentation more than once a month there is NO possible way they are actively fixing and flipping houses.\\xa0
  6. Early in the presentation (usually within the first two hours), they will have you fill out a worksheet with all of your assets as possible funding sources. Available credit card spending, 401k balance, cash value of insurance policies, etc. Later they will use this information to prove to you that you actually can afford their 20-50k in training.\\xa0
  7. They take time to teach you how to call your credit card providers and ask for an increase in your limit. The really sneaky ones will put you in a group, challenge everyone to do it, bring you back and see if you collectively came up with an amount that would buy a house.\\xa0
    1. Results - lifestyle.
    2. Financial freedom
    3. Education of children - college
    4. Legacy\\xa0
  8. They make lots of promises to you. And they will seem great!
  9. They have an emotional story of their own financial distress and real estate saved the day.
  10. They will not let you take photos of the screens or record the event.\\xa0
  11. They want to sell you another more expensive course. Free - Low Cost - High Cost - Upgrade.

Ways to check ahead of time:

  1. Check the name of the company. Look at their website. See what they emphasize.\\xa0
  2. Google the name of the company followed by the word \\u201creviews.\\u201d This may not be helpful, but it can be. One company I researched had over 1000 hits on a website called \\u201cRipoff Report.\\u201d Anyone can say anything there and not all of it should be believed. But 1000 reports?
  3. Ask in online forums - Bigger Pockets, Connected Investors, Facebook Groups, Google Plus Groups etc. What have you heard about \\u2026?
  4. At the event, get the presenter\\u2019s full name. Find out where he/she is from. Note as many property addresses as you can during the event. Check those addresses online for ownership and transfers of ownership. Look for an entity that owned the property for 4-6 months in the past two years. Later on, if you get a chance to speak with the presenter, casually drop the name of the entity you found and see if you get a glimmer of recognition. If you\\u2019re convinced they are lying, just for fun, make up an entity name (or use your own if you have one) and ask them if that was the entity that bought 123 Main St (or whatever). See if they say yes.\\xa0
  • Qualities of a good coach
    • Experience
    • Character
    • Longevity
    • Communication / teaching skill
    • Understanding of different learning styles
  • Characteristics of a good coaching program
    • Personal contact
    • Flexibility
    • Personalization
    • Mix of content and activity
    • Price is reasonable
    • Program is valuable
    • What you will learn is shared in advance.
    • There is no mystery about what happens next.\\xa0

Motivational Quote:

\\u201cEarn a lot so you can have a lot so you can give a lot.\\u201d -Tom Olson

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