What do top athletes, famous singers, and leading business executives have in common? They didn’t achieve success alone. Few people reach the pinnacle without coaches and mentors. Any performance-driven endeavor benefits from outside feedback and advice from experienced people. Real estate is not an exception. A real estate coach improves your business because:
The Best Textbook is Life
At this stage of your career, you know some lessons you can’t read in a book. The “school of hard knocks” is the best teacher. The second-best teacher is someone who’s been there, done that.
Real estate coaches are industry veterans who have rode the roller coaster of success and failures. They’ve experienced the marketing evolution, built a business from scratch, and fine-tuned their techniques. Working with a real estate coach is your chance to learn from the best and get new strategies you may never have considered.
We All Need a Road Map
Don’t waste months or years floundering with the wrong approach to real estate just because you read it somewhere. A real estate coach will help you figure out what really works–and what tactics to shove aside.
As a new real estate agent or real estate investor, the hardest part is figuring out where to start. Do you generate a buyer’s list? Do you start with mailers or leaning on PPC ads? How do you go about finding fix and flip properties?
Let your real estate coach give you the direction on where to start. They know the basics, and their experience means they have ideas on what they wish they knew when they started in the industry.
Many want-to-be investors never get off the ground because there is no incentive to take the first step. What’s going to push you to make that first real estate investment?
A real estate coach provides accountability. They check in with you to see how the plan is working. Did you implement the strategies they suggested? How’s that working out for you?
Accountability is so crucial because it pushes us to follow through. No, a coach is not a boss or supervisor. They won’t fire you for poor performance. But they are still someone who can hold you to a task.
Building a Team
Working in real estate requires a team of people to move a property from seller to buyer. You need to create a team of vendors you trust. Real estate investors need appraisers, contractors, conventional lenders, and hard money lenders whose experience and value makes sense. This network is essential for long-term growth.
A real estate coach provides advice on who matters to your network. They can also give recommendations on who and how to connect with the vendors you need.
Education on Real Estate
When it comes to real estate investing, many strategies are available in an investor’s toolkit. You have rental financing, hard money loans, crowdfunding, new construction, lines of credit, and refinance options.
The best options depend on the goals of the deal. A real estate coach will educate you on different ways to structure a deal for the optimal result. They may even get you in the door with a private money lender for even better financing terms than you expected.
Real estate coaches are there to help you grasp the basics, plan a strategy, and get the ball rolling. You need someone in your corner who has been there, who can empathize and help you strategize around obstacles. At CapSource, we are committed to offering real estate financing services, loan products, and education to help real estate investors achieve their goals.