Are they worth it?
I recently met 2 brand-new real estate investors who are trying to learn the rope of real estate investing. Both of them boast about the coaching programs that they're involved in.
One paid $30,000 and the other $20,000 to their coaching programs, who guarantee to coaching them along the whole real estate investing business, from setting up their LLCs, business website, and these fancy software that automatically analyze the MLS and pulls the best deals for you, and a personal coach who flies out to Honolulu once a month to meet with you, plus online classes.
I wonder if they've heard of books. There are tons of books written on real estate investing. They also need business skills. Networking with local investors and finding mentors who will help them along.
Honolulu is such a unique real estate market, I would not trust some mainland so-called "real estate guru" to coach me here.
I'm full-blood Chinese...so it's hard for me to part with my hard-earned cash. Being full-blood Chinese also makes me a savvy investor, which means, instead of wasting my $20,000 or $30,000 on some useless coaching programs. I could use that money to put a down payment for a small leasehold condo, and start collecting rent.
The best way to learn anything is by doing it. That's the same reason why I decided to not get a MBA degree.
After some research, I realized that my $40,000 MBA tuition is for me to learn how to start and manage a "fake" business in school. Rather than doing a fake business, and not getting your $40,000 tuition back, I'm better off just start my own "real" business with that $40,000, which I will lose anyway, but now this $40,000 have a chance to reap me a fortune.
$40,000 is a good down payment for a small condo. That's putting your money to good use.
Of course, you have to be a very motivated learner and achiever to learn on your own.
I did it...
Give me a call if you would like to network or share ideas with me. I believe good ideas should be shared. That's why I have this website to share my knowledge.