How important is having a real estate investing mentor/coach really?

Is real estate investing mentoring and coaching all hype? Or are there tangible benefits to hiring a mentor or coach?

If there are real perks what are they, and how can real estate investors and aspiring real estate investors maximize the ROI on coaching and mentoring?

The Fork in the Road

There are two distinct outcomes from the choice to invest in or pass up the opportunity to work with a coach and mentor. They are best summed up by looking at those that have failed and succeeded that you aspire to be like.The world’s most loved entrepreneur Sir Richard Branson>says “Mentoring has had such a profound impact on my life and Virgin’s success that I feel it is paramount .” In fact, Branson says the need is “obvious.” And that this applies “no matter how smart you are, or how brilliant or disruptive your business concept.

On the other side, we have that 95 % of new real estate investors and real estate investment businesses that fail within the first few years. Just try to find a mortgage broker or investor that has been around since before 2005, and hasn’t gone broke. You may be hard-pressed to find a handful in the whole country. You don’t need a crystal ball to see where those that passed upon hiring a real estate mentor and coach are headed either. Hop on a popular online real estate forum for five minutes. You’ll find dozens of individuals bragging about not needing coaching in one thread. Then a few posts later they are on the verge of bankruptcy, or are completely stuck at a certain income level and can’t figure out how to expand their portfolio successfully.

Is it Even Possible to Succeed without Coaching

It is entirely possible for most people to see some level of results and success without coaching and mentorship. At least for a period of time. But looking at the big picture this is like playing football in elementary school versus rocking a Super Bowl ring, or an Olympic Gold Medal.Try to name one Olympic athlete, NFL, NBA or pro golfer that hasn’t had coaching. And a lot of it. CEOs of major funds that have incredible IQs have their own coaches and mentors or pull together boards or advisers. Even Presidents have numerous coaches and mentors. The bottom line is that if you want to see high-level results in anything, it pays to have a coach or mentor.

7 Benefits of Coaching for Real Estate Investors:

• Inspiration and drive, even when your own motivation and confidence is floundering.
• A guide to success; for avoiding the costly mistakes, and making more profitable decisions.
• Accelerating the speed of your desired results and success.
• Real estate is still about who you know, and a coach/mentor can help make introductions
• Insight into savvy shortcuts and methods, that are sustainable.
• Helping you reach your full potential!

Quick Tips for getting the Most out of Coaching

There are many mentors, coaches, and training systems out there. And each has their limitations. Often that is the student and the synergy they share. So get the most out of coaching and mentorship by…Finding a good match.

• Be proactive about getting coaching and mentoring upfront, rather than after you get in trouble. Remember “A stitch in time saves nine.”
• Make coaching, mentoring and learning a part of your weekly schedule
• Continually measure the ROI on your mentorship
• Do your part
• Take action!

All the advice and knowledge in the world is useless if you don’t use it. Ultimately every real estate investor that is serious about succeeding should seek some form of coaching, mentorship or consulting. Many might argue it isn’t worth rushing forward without one. If cost is a barrier, then start small and scale your real estate investing coaching, mentoring and consulting budget as you realize your desired results.

Your Real Estate Investing Success Maker,

I”ll see you at the closing table,

Marcel Umphery the “R.E.I. Successmaker”