By Don R. Campbell
Right now everywhere you turn you hear people offering real estate coaching services. So how do you know if this service will be of value to you? Below are some key due diligence questions to ask if you are looking for a coach:
- What is in it for them?
- Do they have a financial incentive to get me to take a particular action based on the information theyre giving me?
- Are they trying to coach me by getting me to buy a piece of real estate they are selling me?
- Do they have experience in the market or are they part of the cult of opinion? (These guys know someone who knows someone who did something somewhere. Thats not good enough for you!)
- Are they currently investing in real estate and using the strategies theyre teaching?
- Do they have an absolute bare minimum of 10+ real estate transactions to their name, thereby giving them the experience of dealing with different buying and selling situations?
- Have they been investing for at least five years, preferably 10 years, giving them experience in different market conditions? Its even better if theyve been through a full up and down real estate cycle, which often takes a decade or more.
Force yourself to ask the tough questions, and not allow yourself to commit to a coach until all your homework is done. Youll be much happier for it.
And when youre ready, you can browse REINs selection of coaches at www.reincanada.com/aboutus/rein-team/rein-reia. Our Real Estate Investment Advisors are sophisticated real estate investors who have aligned themselves with REIN in their many years of successful experience in the industry. Now is the perfect time for you to align yourself with them!
Don R. Campbell began his investing career in 1985 with a house purchased in Mission, BC. He is Founding Partner and Senior Analyst at The Real Estate Investment Network and currently owns nearly 200 doors in BC and Alberta. A seven-time best-selling author, Dons expertise and passion for teaching Canadians how to create wealth through real estate are far-reaching and have made an impact on the lives of thousands. You can follow his daily thoughts on Twitter www.twitter.com/DonRCampbell and on Facebook at www.facebook.com/thereinman.