Expensive property coaching- is it worth paying a mentor $10k, $20k or sometimes even $30k?
The question you have to answer yourself whether you are a first home buyer or a first time property investor is Can you buy a property without the help of the mentor?
The answer is if you have enough money or the bank is giving you theirs then OF COURSE YOU CAN.
The next question to answer is will you get enough value to justify their astronomical mentoring fees? Arguably in my opinion.
Here is what I’ve seen when I consulted hundreds of prospects and clients and in fact some of them have used mentoring services in the past.
The biggest and the saddest thing was they didn’t buy a property afterwards. Partially it was because they simply didn’t take the right action.
Others didn’t buy because they weren’t in a position to buy a property. In fact they got pushed out further away from their property ownership because they parted with more than $10k for the tutoring. It’s obvious to me that the mentor didn’t even care whether the person is in a good position to invest or not.
I have once had a very interesting conversation with one of the Robert Kyosaki’s coaches. The asked me about how much savings I had and how big was my limit on the credit card. At that point I had $15k saved and a credit card with a $5k limit. I personally knew that I couldn’t buy another rental property at this stage but these guys from America, without taking to a lending institution, knew that they could help me. As I would have shared in the past, I’m easily sold to, so I went ahead with their coaching. Thankfully I came to my senses and cancelled the program within the next few weeks. They will try and close you by asking questions like:
1. Do you not believe in investing into yourself?
2. Are you really committed to your goals? Because if you don’t go ahead with us, you will never become a successful investor.
3. Can you make a decision at the end of this call?
Don’t let their sales tactics or techniques make you forget your common sense. Be smarter than the average bear 🐻
If you are looking at buying your first property or rental the first person you must talk to is the mortgage broker, and a good one at that. Most of the time it will be the numbers dictating what sort of property you can buy.
At diamond we don’t charge for education, it’s included in our service. Otherwise how can you make the right informed decisions if you don’t have the right information, right?
Feel free to go onto our Facebook page and share your opinion under this post there. The icon is in the right top corner.