4 - Finding the Right Real Estate Investing Coach for You
In this episode of Get Real Wealthy Season 4, Quentin shares tips and tricks for finding the right real estate investing coach or advisor.
Quentin says that many people are eager to sell their services on social media, and it's important to be cautious when looking for a coach or advisor. There are a few steps that you can follow to find the right mentor. He suggests that the first step in finding the right coach is determining what specific topics you're interested in learning about. Joining a real estate club, like Durham REI, can help you get a general overview of different aspects of investing in the Canadian real estate market. Once you have a general understanding, Quentin advises to figure out exactly what you want to learn from an advisor or coach.
The second step is to understand the track record of the advisor. Quentin suggests looking for an advisor who has invested for a full real estate cycle and has experience with different types of strategies during different parts of the cycle. He further adds, "you got to be careful who you're getting advice from because they may push you down the path that leads you into the same problems that they went into." The third step is ensuring the coach or advisor is still an active investor. Quentin says that you have to be cautious if the coach hasn't bought a property or done a flip project in the last few years, as they may not have current experience in the market and knowledge of the current rules and regulations.
Quentin says that the fourth step is considering the coach's qualifications and credentials. He mentions that one red flag to look out for is if coaching is the main source of income for the coach or advisor. He suggests being wary of their past success in real estate investing, and if they are currently active in the real estate investing space. You should also be cautious of coaching programs where you pay a large lump sum of money and have access to the program forever, as you may outgrow the program, and the coach may focus on bringing in new clients instead of moving you to a higher level.
The fifth step is to consider the support you will get from the coaching program. Quentin suggests looking for weekly calls, WhatsApp groups, quarterly masterminds, accountability programs, and access to videos, courses, books, and other materials. Lastly, he suggests looking for references from former coaching clients. Quentin suggests looking for pictures, quotes, and testimonials from former clients to get an idea of their experiences with the program.
In conclusion, Quentin emphasizes the importance of being cautious and doing your research when looking for a real estate investing coach or advisor. These steps will help you find the perfect coach to help you in your real estate investing journey.
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