As a woman real estate investor, you face unique challenges. However, anyone looking to grow in real estate investing can benefit from a relationship with a qualified real estate investing coach. A real estate investing coach is an experienced real estate investor who has built a solid business with a proven portfolio and extensive network.
Partnering with a real estate investment coach provides knowledge to grow a successful real estate investing business while avoiding the common mistakes investors make. Also, working with a real estate investing coach provides insight on how to build a portfolio and network. You’ll learn the different types and approaches to real estate investing to help hone your real estate investing skills.
As you search for a qualified real estate investing coach, be smart. Don’t get taken advantage of by get rich quick schemes or scams that don’t offer solid coaching. Instead, seek a real estate investing coach with proven results and a good reputation.
How to Find a Qualified Real Estate Investing Coach
Choose a Woman Coach
With real estate investing for women, working with another woman to learn the business is key. A professional and experienced female real estate investing coach understands the unique challenges of running a woman-owned business. The information and knowledge shared comes from the perspective of building a network and portfolio from a successful woman entrepreneur.
Good Online Reviews
When looking for a real estate investing coach, start by reading the online reviews. If you find only a few bad reviews out of many, don’t give those too much weight. However, if you read many poor reviews, that’s a sign of a problem. A good real estate investing coach has many positive reviews with details to back up the positive information.
Also, ask for references from the real estate investing coach. If they’re legitimate, they’ll have solid references. Don’t be scared to reach out to the references to ask about their experience. Ask open-ended questions, like “what was the most useful information you learned?”, in order to gain an understanding of their specific experience. This is also good practice for learning to ask detailed questions about real estate investing deals.
A good real estate investing coach has a proven and extensive portfolio to back up their claims of being an expert in the field. Look for a portfolio across various kinds of real estate investing. These may include wholesale real estate, rental properties, flipped properties, probate properties and more.
Also, ask about their profitability. Don’t try and learn about the real estate investing business from someone who doesn’t have proven success. It’s okay if they’ve had some failures. That’s how people learn and get better. But, if a real estate investing coach can’t back up their claimed expertise with actual real-world deals, then don’t trust them to teach you.
A successful real estate investing coach has a solid network of industry professionals. In fact, one of the benefits of working with a real estate investing coach is learning how to build your own network and tapping into their network. Before you partner with a coach, ask about their business network.
A real estate investing network is key to making money through real estate investing. A solid network will include lenders, inspectors, contractors, attorneys and other real estate experts. Not everyone that claims to understand the business actually does. As you gain knowledge of the industry and close deals, you will build your own business network. Overtime, these relationships should make your real estate deals run more smoothly. Trusted relationships lead to business success.
Another trait to look for in a real estate investing coach is an established plan for building a business. In fact, this is one of the main things you are paying a coach for – how to execute a plan for successful investing. Without a business plan, you won’t be able to secure funding, identify opportunities or track your success.
A business strategy should include the types of deals you plan to focus on in your real estate investing business. It will also include a marketing plan and financial plan. A good real estate investing coach will help you understand the importance of a business plan and how to create one for your business. They can’t do this if they’ve never planned for their own real estate investing business.
You can’t teach what you don’t know! Probably the most important quality in a real estate investing coach is industry knowledge. If someone’s only been investing in real estate for a year and yet they’re marketing themselves as a coach, that’s a red flag. In order to successfully guide others in building a real estate investing business, the coach must have extensive industry knowledge.
Interview the coach before you hire them. Read their website, blogs and eBooks. Watch their videos and listen to podcasts interviews. Follow them on social media and watch the kind of content they share. With a little bit of research, it should be evident whether or not they have solid industry knowledge.
Warning Signs to Watch for in a Bad Mentor
Working with a real estate investing coach builds a mentor relationship that provides guidance for success. These are positive and important relationships. However, not everyone who markets themselves as a coach is looking out for your best interests. Look for the warning signs of a bad real estate investing coach to avoid wasting your time and money.
- They don’t approach real estate investing as a business
- They position themselves as “guru” instead of a coach or mentor
- They have many bad reviews or few good reviews
- They promise wealth without risks
- They promote a “get rich quick” message
Real estate investing can lead to wealth and business success. However, it takes work, time and a solid plan to see positive results. That’s what makes real estate investing valuable. With dedication, you can build a solid business that can offer benefits for years to come.
Build a Foundation for Success
The point of working with a qualified real estate investing coach is to build a long-term, profitable business. Whether you’re new to real estate investing or want to build on your current knowledge, a reputable real estate investing coach can offer knowledge, insight and strategies to grow your business.