Real Estate WEALTH Magazine Real Estate WEALTH Magazine - DOWNLOAD IT HERE! - Page 66

EDUCATION Choose the RIGHT Coach & Mentor By Dennis Henson, President of AREA Arlington Real Estate Association of Investors H ave you noticed that sports teams and individuals that have the best winning records are the ones with the best coach- es? If a professional team does not have a winning record who do they replace first? Of course, it’s the coach! Real estate investing is a business where a single mistake can cost you thousands of dol- lars and for that reason alone, the most important member of your investment team is your coach and mentor. Another value your coach will bring to the table that is essential to your success is the element of accountability. In order to become really success- ful in real estate investing, it is imperative that you form successful habits quickly. Legendary football coach, Vince Lombardi said, “Winning is a habit. Unfortunately, so is losing.” A good coach will help you put together a busi- ness plan and give you a list of things to do to help ensure your success. But you can only become successful if you stay on the right track and make doing the right things a habit. A good coach will hold your feet to the fire so to speak. Nothing can keep you moving like a good coach and mentor! He or she will help you through the rough times, answer questions and give encourage- ment, support, motivation, and help you keep your focused. Here are some things that you should consider when choosing a coach and mentor. He or she should be… • The real thing — someone who really invests in real estate and not someone trained to help you learn to invest • A successful investor with many verifiable properties • Local — Local is better because you can get face to face time, training & answers AND THEY SHOULD • Have time to spend with just you • Have been a real estate investor for years • Have the respect of their peers in the real estate industry • Be sincerely interested in your success • Be someone you can trust and with whom you have a good rapport Also, the price for their coaching/mentoring pro- gram should be reasonable, and they should have a good guarantee for their program. While searching for the right coach you need to be aware that you may encounter a number of unscrupu- lous programs. Some of these will offer you the moon and stars, and they will gladly take your money. After a short time, you will quickly find that all you re- ceived was the moon and stars, but not much here on PAGE 66 • 2017