Is It Worth It to Hire a Multifamily Coach?
Author : Daniel Stewart | Published On : 26 Aug 2021
If you’re new to multifamily investment properties, you may want to consider hiring a multifamily coach to help you. But what is multifamily coaching? And what are the benefits? In this article, we’ll help you compare the pros and cons so you can decide if it’s worth hiring a coach for you.
What is multifamily coaching?
Multifamily coaching is one-on-one coaching and mentorship from a multifamily real estate expert. The goal of this type of coaching is to give you the knowledge, tools and confidence you need to land your first multifamily deal (and hopefully more in the future).
What are the benefits of multifamily coaching?
Although multifamily mentorship and coaching do come with a cost, for many people, the cost is worth it, because it often pays for itself in the long run with great returns on multifamily investments.
For example, here are some of the primary benefits you can expect from working with a multifamily coach:
- Offers real-world and expert advice according to your situation
- Guides you through your first multifamily deal
- Provides real-world experience and lessons through walking properties and exposure to actual deals
- Encourages networking, which gives you access to all the people you need to land your first multifamily deal (property managers, lenders, contract attorneys, etc.)
- Teaches you how to pitch to investors to raise money and secure financing
- Provides you with strategies to evaluate and invest in multifamily properties with regard to what the current economy looks like (or what the future economy may look like)
- Exposes you to books, information and knowledge that will change your mindset and beliefs about multifamily investment
Is it worth the cost to invest in a multifamily coach?
The decision to work with a multifamily coach is a personal one. However, most people would say, yes, it is worth the cost. Overall, multifamily coaching will better prepare you to deal with the multifamily real estate business, and you’ll be more likely to find success in it.
Just make sure to do your due diligence first and thoroughly research any coach you intend to work with to find world-class coaches, seek out educational events, real estate clubs, investor meetups, property tours and other similar events that will put you closer to these industry leaders so you can get connected with those in their circles.
Daniel Stewart advises people about real estate, property investment, property management and affordable housing schemes. You can find his thoughts at real estate finance blog.