Many investors both green and veterans struggle with the choice between spending on the next real estate deal and getting coaching. The bottom line is that the maximum ROI should be demanded from every dollar. So which is the right way to go?
For those just breaking into real estate investing the temptation is often just to rush in and put all of their resources into their first deal. You’ll learn a lot from just digging in and getting your hands dirty right?
You’ll certainly learn, but sometimes those lessons can be extremely costly. The pitfalls are great and while a seasoned pro might not twitch at losing a $10,000 deposit, if you are fresh out of the gate you could lose that and a lot more with just one simple mistake, having failed to invest in your real estate education.
Contrast that with getting the real estate investing education and making sure that first deal is a slam dunk and potentially with less of your own money on the line. Then break out the calculator and do the math. Compound what you will have saved and the higher returns on every deal from here on out. The decision to get coaching is easy.
So what about the real estate investing pros? What about those that already have 10 or even 100 deals under their belts over the last few years? They don’t need coaching right?
If you fall into this category you might well do OK, continuing in the same groove, perhaps even gradually increasing your deal volume. On the other hand you could get hit by unforeseen market changes or even wake up one morning to find a fatal flaw in your structure which dooms your empire.
Coaching isn’t just for the newbies it’s about getting to the next level. What if you gained the insight to take your volume to 120 deals a year, and have the peace of mind you have a bullet proof system and structure in place for the future and more freedom to boot?
What’s that worth?
It may be hard to put a price on, but guaranteed that coaching could be far more valuable than 1 more flip in the short term.