What does a real estate coach do, and is real estate coaching worth it?
Today I’m answering your question, “Do I need a real estate coach?” and the topics I’ll be covering are:
- Weighing Real Estate Coaching Costs
- Finding Real Estate Investing Coaches With Experience
- Accelerated Learning From Real Estate Coaching and Training
- Getting a Tax Defaulted Real Estate Investment Coach
- A Real Estate Business Coach Can Answer Your Questions
- Seize Opportunities by Using Real Estate Coaching Services
- Real Estate Investor Coaching Puts You on the Fast Track
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Weighing Real Estate Coaching Costs
Today I’m answering the question, “Do I need a real estate coach?” I’m Ted Thomas. For the past 30 years, I’ve been involved in the business of tax defaulted property as an investor, guide, and coach for newcomers. Hundreds of people ask the same question, do I need a real estate coach? Well, I don’t think you need a coach, but let’s talk about that and you can decide for yourself.
I’ll start by saying, it’s always expensive to get a coach. It’s never cheap. By that, I mean, if you go to school, it costs money. If you hire a private tutor, it costs money. However, if you don’t get a coach, it also costs money. It always costs money.
Sometimes it takes a long time to learn a business. People who get a coach can do it relatively quickly. Many people attend a business school for 2-4 years. They get an education, so they can be accepted as a professional.
You probably want to do the same thing yourself, but I’m not pushing coaching just for the sake of pushing it. You need to decide that yourself because it’s expensive, and you want to get the most out of it.
Finding Real Estate Investing Coaches With Experience
In the past, it was always considered normal for a young person to become an apprentice to learn carpentry, plumbing, and so on. From there, they progressed from apprentice to journeyman and then on up to being a master. That was normal. I think it’s still the same way in those trades, and those young people are now earning $100,000.
There’s no professional training that I know of for tax liens and tax deeds. The best we can do is associate you with people who are coaches and who have already done it. We don’t have people that just read a book and then decide that they’re a real estate investing coach. Our coaches are all people with experience.
It’s the same way with the electrician or plumber. You would learn from people that had the experience of doing.
Accelerated Learning From Real Estate Coaching and Training
Let’s talk about your question, “Do I need a real estate coach?” My answer to that is no.
If you want to learn it on your own, it’s going to take you years to do it. There’s nothing wrong with taking three or five years to learn. So, no, you don’t need a coach, but if you want to accelerate that whole process and get it done relatively quickly, then that’s a different story. You’ll earn money quicker if you get a coach.
If you’re worried about work, don’t worry about that because there are over 5,000 auctions every year and more than 3,000 different counties doing this. There’s going to be plenty for everyone.
Getting a Tax Defaulted Real Estate Investment Coach
30 years ago, I discovered a very lucrative but little-known business, and that was tax defaulted property investing. It was just traditional real estate that people hadn’t paid the property taxes on, and the county seized those properties to resell them to collect the taxes.
The county doesn’t want these properties. They want the revenue, so they will sell tax defaulted real estate for 5 or 10 or 20 cents on the dollar, and the highest bidder will get the property. What am I saying? I’m saying that these properties are selling at 60%, 70%, and 80% or more below the tax assessed value.
Additionally, the legislature has authorized the county treasurer to sell these properties without a mortgage and without a deed of trust. So successful auction buyers will receive a property free and clear of mortgage or trust deed.
Tax defaulted property is a unique part of the real estate business. It’s been around for 200 years, and it will continue to be around.
Do you need a coach to learn that? Well, no, you don’t need a coach to learn it. However, if you want to learn a lot quickly, then you probably do. Many student investors are confused at this point. Do they need someone to help them, or don’t they?
Well, I’m going to tell you, guidance from successful coaches and mentors is like a miracle. That’s why the best investment for you is to get a better education. Why do I say that? Because you don’t know what you don’t know.
Real estate coaches know all of the rules, and they know what to do at these auctions. They can put you on the fast track, and isn’t that exactly what you want?
A Real Estate Business Coach Can Answer Your Questions
In my experience, when I started asking successful people for guidance and took their answers and wrote them down, my life changed a lot. It’s intimidating trying to be in a new business with tough questions, and you’re trying to figure it all out. So why don’t you find someone successful to answer your questions?
If you don’t have a coach, you’re probably missing the boat because who are you going to ask questions of? Then you might have to learn the hard way.
In my business, I conduct many different trainings. Some of it’s online and some of it’s offline. Some of it’s in three day events and some of it is coaching. I find that people are confused, and the confused mind always does the same thing. It says no. That means they don’t do it. They stop entirely. Don’t make that decision to stop entirely.
Maybe you have to get part-time coaching or find a mentor. You need to do something.
Everybody will give you advice, but how can they give you advice if they haven’t learned it themselves? You want to be very cautious about whom you’re taking advice from.
Seize Opportunities by Using Real Estate Coaching Services
In this business, there are plenty of opportunities. Once you learn how to do this, you can go right to work, and you can keep doing it.
To answer your question, “Do I need a real estate coach?” Only if you want to get the job done quickly, and you want to make the most money in the fastest amount of time. The answer is really up to you.
Today, coaches are available. 30 years ago, there weren’t any coaches around. You had to take the years to learn. What you could learn in one year with a coach today took me three or four years to learn. With a coach, you’re going to discover that you can leapfrog over that painfully long learning curve.
Otherwise, you’re going to be forced to eat what you killed. That’s not a joke. What it means is you’re going to work hard, but you’re going to have to use up all your money just surviving. It would be much better to learn how to make money and make lots of it, so that you can grow a business.
The magic is having access to someone who has already successfully navigated the terrain and avoided the minefield of obstructions.
Real Estate Investor Coaching Puts You on the Fast Track
Let’s look at someone on the fast track. Within 45 days, they made real money.
Shortly after they finished their training, a Wisconsin couple purchased a property at a tax defaulted property auction in Michigan. The tax assessed value was $55,000, but the couple only paid $8,000, less than 15 cents on the dollar.
So what did they do? They proceeded to clean it up, and that added another $4,000 to their cost. So now they’re in it for $12,000.
They advertised the property as we told them to do and sold it on Facebook Marketplace, but they had also put it on Craigslist, the Multiple Listing Service (MLS), Zillow and Trulia.
They sold it for $35,000 and made a $23,000 profit. Would that work for you? Then this is a system you should learn how to work.
Do you need a real estate coach? Well, that’s what a real estate coach did for them. I think it would do the same thing for you.
We hope you enjoyed Ted’s lesson, “Do I Need a Real Estate Coach?”
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Ted Thomas is America’s Leading Authority on Tax Lien Certificates and Tax Deed Auctions, as well as a publisher and author of more than 30 books. His guidebooks on Real Estate have sold in four corners of the world. He has been teaching people just like you for over 30 years how to buy houses in good neighborhoods for pennies on the dollar. He teaches how to create wealth with minimum risk and easy-to-learn methods.