During a recent workshop, I found myself chatting with a novice real estate investor. In fact, this was her first workshop and, like many newcomers to the industry, Sarah fully realized that she was in need of more training and education. But actually getting a good education in real estate investing can be far more challenging than many realize. You can’t simply enroll in a degree program like you can for many other career paths. Instead, new investors must sift through the offerings from dozens upon dozens of real estate education companies with hopes that they’ll find one that provides good training, useful resources, and comprehensive support.
This could leave you wondering: Are the real estate investing education company’s offerings worthwhile? The reality is that it varies, depending upon many factors, such as the cost, the value and quality of the educational materials, and the amount of support and/or coaching that you receive. So what should you consider as you evaluate courses?
Real Estate Investing Companies: What to Look Out For
Every company, it seems, claims to be the best. However, what they actually offer differs pretty widely. In comparing them, there are a few questions you should ask yourself.
1) Is the Company Selling a Real Estate Investing Education, or Something Else?
Many businesses masquerade as real estate education companies, offering free or low-cost ebooks, tutorials and lessons with an ulterior motive of luring the individual into purchasing something, from software, to coaching services, and even lead lists. They get you in the door and upsell you on other products or services. And, before you know it, you’ve spent way more time and money than you intended–without benefitting from a real education. In cases where educational materials are offered up as a virtual carrot of sorts, it’s best to take that information with a grain of salt. Instead, focus on companies that are truly selling an education…not something else.
2) Are the Educational Materials Relevant?
It’s important that you determine whether the company that you’re considering provides materials and/or lessons that are relevant to your investing approach. There are so many different types of real estate investing, from the one-man-band rehabber, to the buy and hold enthusiast, or even the joint venturer who aims to acquire multi-million dollar properties that would be outside of a single investor’s purview. You want to ensure that the materials are targeted to investors who are acquiring the same type of property, in the same region, with the same general investing strategy that you are interested in.
Even tutorials that align with your real estate investing approach can vary in terms of relevance depending upon your location and your exact investing focus. For instance, the residential single-family real estate market in New Jersey is dramatically different from the multi-unit real estate investment market in central Iowa. Therefore, a strategy that proves to be profitable and effective in one location and market sector may fail to bring comparable results in another setting.
3) Does the Company Offer Support and Coaching?
An education company that offers well-crafted lessons may provide you with a good informational foundation as you begin your real estate investing career. But what happens if you have a question? Or, what if you encounter a somewhat atypical situation that is not covered in the course? Who can you turn to for more information or advice?
This is an important point to consider, as many real estate investing education companies offer curriculum only–not guidance and support. A novice investor who is left to their own devices is far more likely to experience a major financial loss. So it’s generally best to seek out a company that offers some form of coaching or support as part of their educational program offerings.
The best real estate investing education company offers more than just information; they provide mentorship or coaching to help guide you along the road to building a solid business. A coach or mentor can answer your questions, give advice, and help you to avoid potentially costly pitfalls or missteps.
Combining Comprehensive Real Estate Investing Education and Mentorship
For novice investors like Sarah, who are seeking to launch a new career in the real estate field, I strongly recommend HomeVestors®, which provides the most comprehensive training to help you succeed in a very competitive industry. In addition, HomeVestors® franchisees are also paired with a Development Agent—an experienced HomeVestors real estate investor who is available to provide guidance, encouragement, and advice. What’s more, Development Agents like myself are truly invested in their mentees, unlike many coaches who—at the end of the day—are in competition with the investors whom they coach. With HomeVestors, when my mentee succeeds, so do I. That means I go the extra mile to ensure success. That’s precisely what you want on your side when just beginning a career in real estate investing.
If you’re seeking the education and guidance to get ahead as a real estate investor, perhaps it’s time to learn more about becoming a HomeVestors® franchisee. Contact the HomeVestors team for access to some of the best training in the industry.
Each franchise office is independently owned and operated.