What does a real estate investing coach do, and should you have one?
At ManCo Property Services, we have a pretty deep understanding of how to invest, why it’s important to invest, and what the mechanics are around leasing and maintaining rental properties so that they remain valuable and occupied. We’re professional property managers in Dayton. We have years of knowledge and a lot of talent. We’re local leaders when it comes to real estate and investing and property management.
And yet, we see the value of real estate coaching. We also know enough to understand when it may not be necessary.
Finding the right real estate guidance can be a big part of any smart investor’s strategy and success.
Should You Pay an Advisor to Serve as a Real Estate Coach?
The coaching industry has really taken off in recent years. There are business coaches, life coaches, relocation coaches – a coach for just about anything. People like to have support.
What can a real estate coach provide that you cannot find elsewhere? Maybe nothing and maybe everything. It largely depends on where you are in your investment journey and what kind of support you already have in place.
A real estate coach provides strategic advice and guidance to help investors make informed decisions. They can offer insights into market trends, help set investment goals, and develop strategies to achieve those goals.
Coaches often offer support in areas such as:
- Market Analysis. Understanding current and potential future market conditions.
- Goal Setting and Strategy. Creating a tailored investment plan.
- Deal Evaluation. Assessing properties to determine if they fit your investment criteria.
- Networking. Connecting you with other professionals in the industry.
The goal of a real estate coach is to enhance your performance and help you achieve your financial objectives through structured planning and execution.
Investing in real estate involves risks and complexities, and having a coach can be an asset if you’re seeking systematic improvement in your approach. But why should you consider paying someone for this guidance?
We understand the importance of experience and expertise. A good coach brings valuable industry experience and know-how to the table, which can be crucial if you’re just starting out. The right coach can also provide a good bit of accountability. Coaches ensure you stay on track with your investment goals and motivate you to meet your deadlines.
There’s also customized advice, which cannot be found in every investment expert you meet. Tailored guidance that addresses your unique financial situation and goals is often invaluable.
Although hiring a coach is an additional expense, it might be worth it if you gain substantial returns from your investment due to their guidance.
When is the Right Time to Hire a Real Estate Coach?
Timing is everything when it comes to leveraging the benefits of a real estate coach. Consider hiring a coach if:
- You’re New to Real Estate Investing
If you’re breaking into the real estate market, a coach can provide foundational knowledge that can set you on the right track.
- You’re Stagnant
If your investments aren’t yielding the desired returns, a coach can help you reassess your strategy and introduce new ideas.
- You’re Entering a Complex Market
If you’re considering investing in a particularly competitive or volatile market, a coach’s expertise might be invaluable.
With so many factors at play—housing markets, financial planning, legalities—it’s easy to understand why some investors might seek guidance.
How to Know Your Real Estate Coach is Legit
You want to work with the real deal.
To determine if a real estate coach is legitimate, begin by examining their track record and credentials. A credible coach should have verifiable experience and success in real estate investing. Look for client testimonials and reviews that speak to their effectiveness and professionalism.
It’s also important to seek transparency regarding their coaching approach, including specific strategies they employ and how they personalize guidance to suit individual investment goals. A legitimate coach should be open about their fees and services, avoiding any high-pressure sales tactics that could indicate a lack of authenticity. Seeking recommendations from trusted industry peers can also provide insight into the credibility and reputation of a real estate coach.
When is a Real Estate Coach Not Necessary?
Don’t pay for the same service from multiple professionals.
As Dayton property managers, we provide a lot of coaching to our clients who come to us for help in managing their existing and potential investments. There’s no need for them to pay a coach simply to introduce an investor to us.
When you’re already partnered with a great resource for investing, there’s no need to pay twice. We have helped investors walk away from deals, lock in deals that were difficult to negotiate, and put plans in place that lead to more profitable outcomes.
A lot of our clients come from real estate coaches like Antoine Martell, who is extremely respected in the Dayton market. His clients pay him for help in finding property management partners like us. He and his coaching clients understand our expertise and one of the best reasons to connect with a coach is so that you don’t have to shop around when it comes to property managers, brokers, and other professionals. Those partners have been vetted and can be trusted.
Deciding whether to hire a real estate coach ultimately depends on your personal circumstances, goals, and the challenges you face as an investor. For some, this type of guidance and strategic insight that a coach offers can significantly accelerate progress and profitability. For others, the direct involvement of a property manager might better suit their investment style. Assess your needs, evaluate the benefits, and ensure whichever path you choose aligns with your long-term investing goals.
As always, we are here to talk through all of the options with you. Don’t hesitate to get in touch, whether it’s to talk about property management or real estate investing in general.
Contact us at ManCo Property Services. And remember: If it’s a property managed by ManCo, life just got better!