I had a friend reach out to me this past week, and I haven’t spoken to him in nearly six months. I found the phone call with Chris pretty fascinating because he was explaining the recent experience he had with a mentor. He is now in the market of trying to find a new mentor because of the situation that unfolded. As a result, he called me asking to look into house flipping HQ.
Real estate investing can be an excellent full-time career if you take the right approach. You certainly need to do your homework and find the right people that can help you succeed. This search can easily mean different things to different people. You’ll need to do your due diligence on the people you’re considering. So today I thought I would share some of the things I look at when I’m contemplating somebody’s mentoring program. Chris had asked me to look at Justin Williams mentoring program for him. So I’ll do a quick house flipping HQ review so you can see what I consider to be important. I’ll also quickly cover what started this whole conversation off with my friend Chris in the first place.
Chris is looking for a new mentor he can trust. He explained how working with the other mentor would no longer be possible in his eyes because the mentor suggested numerous ways to cut corners. Without getting into full detail, it came down to some questionable practices that would reflect what the house is worth. He felt the promoted tactics were extremely dishonest and it would purposely skew the numbers in the legal documents. If you don’t see eye-to-eye with a mentor, you need to move on. So he called me asking to look at some other mentors, and in the process, he asked me to look at house flipping HQ.
House flipping HQ consists of:
An online coaching / Mentor program. The program states it has a secret formula for flipping houses that can run on autopilot. They have a podcast program that consists of some recorded training. The program also promotes an annual live event.
Online Coaching / Mentor Program:
The program targets the beginner investor. Paid online mentoring programs can be great, and there are Pros to this type of mentoring model. However, there are also cons that can go along with it. Beginner investors can benefit from this type of format because it provides flexibility. When someone new to the industry is dealing with time restrictions from a day job, it can be beneficial. This type of arrangement allows the beginner investor to gain knowledge at their own pace. However, if you need to have access to somebody immediately because of something pressing, it can be somewhat tricky.
Secret Formula For Flipping Houses That Can Run On Autopilot.
I personally find this type of claim a bit scary. I’ve been flipping houses for the better part of my adult life, and there is no secret formula except busting your butt. I have never seen anything run on autopilot in the real estate investing industry. Even a passive investor has some stuff to address on a weekly basis. There is no shortcut to the shortcut. Everything takes a ton of work and commitment. I understand people want to Hype a program that they’re excited to run, but I don’t like inaccurate claims. Some people routinely use deceptive words especially in real estate to promote things, and I find it just raises more red flags.
A Podcast Program Of Recorded Training.
If you have access to podcast recordings, it can be a real big plus. I’ve also wasted a lot of time listening to podcasts because they require you to go through all the material from A to Z without structure and it’s usually very disorganized. In other instances, I have seen some top-notch programs where the host converts all their audio/video content into PDF documents for searchability reasons. When someone claims to have podcast recordings, having transcribed notes with times stamps is a must. My time is brutally valuable. In fact, I listen to all course material at 1.5 to 2 times the normal speed. It does sound a bit like the Chipmunks, but the subconscious mind can take in information and retain it at almost eight times the regular rate.
The Program Also Promotes An Annual Live Event.
Their program also promotes a live event where you can meet everybody. This event appears to happen once a year, and you can buy tickets to attend. I personally don’t find this to be that effective for someone starting out. I would prefer something more Hands-On for somebody that’s new to the industry. I have seen many people go to these types of events, and come away not feeling fulfilled.
In conclusion, The program I looked at for Chris suggested he could get rich with 3 hours a week. Now, do you believe that is true? I think there’s greater value in finding somebody local to where you are and building a relationship with them. There are countless ways to develop a mentoring relationship with somebody more one-on-one with you versus feeling like you’re in the crowd. I think old-fashioned networking still has some value. I ultimately gave Chris 5 contacts local to him he can look up. I also sent a quick text to those five people so they knew they might get a call.