Why Do Real Estate Investing Teachers Charge So Much?
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Joe: Hey, it’s Joe Crump. Welcome back. I’ve got more questions here. This one is from Brian LaPlante. He says, ‘I have a question.’ This is actually two pages long, so I’m going to truncate it a little bit and try to get his question out without going through all of the details here.
Brian: “I know there’s a lot of money to be made in real estate. If there weren’t, all the richest people in the world wouldn’t be in it. So I have been studying, researching and probing for several years to find a way into the game. What I’ve found is that the people who know how to make money in real estate make even more money off of the marketing information and mentoring people who want to learn how.’
Joe: There’s a lot of people out here that are teaching real estate investing. Some of them don’t do what they teach. Some of them do. I would try to find someone who’s actually in the market doing the business that they’re talking about, and hopefully someone who’s making more money in their real estate business than they’re making teaching.
Joe: Now, my real estate investing teaching business makes me a lot of money and I’m in it for the money. I want to make a lot of money at it. That’s why I’m doing it. But it’s also – it’s a lot of fun – I really get a kick out of getting up the morning and getting on the call with my mentor students and teaching them about real estate and seeing them succeed and having them come on the phone and come to my buying events and say, ‘Joe! I just did my first deal!’ or, ‘I just quit my job! I’m going to do this full time. I’m making enough money now. I’m making twice as much money as what I was making on my job and I’m only working 15-20 hours a week.’ – I love that.
Joe: I think that anybody that’s in this business that’s serious about it is going to enjoy that process, too. It’s fun to see people succeed. Do I charge for it? Yes. Do I charge a lot of money for it? Yes. But that’s because I can’t service thousands of people. In my program at any particular point in time, there’s never more than a hundred people, which means that I can handle that many people. We can come to events together. We can talk together. Most of the events that I have don’t have more than 30 to 40 people show up. Most of the phone calls and coaching calls don’t have more than 15 to 20 people come on them at any particular point in time. So, I’m able to handle that many people.
Joe: And, what I find is that when I have too many people in my group, what I do is I raise my price because it lowers the amount of people that are there, and then I can service those people and help those people on a much deeper level. So I have to make a decision – do I want to help a bunch of people on a very surface level, or do I really want to get into the lives and the hopes and the dreams and help the businesses grow of the people that are involved and spend the time with those? I think that it makes more sense, instead of me outsourcing it to another coach or another person who teaches who doesn’t have the experience or the knowledge that I do, to be able to charge more money to make it worth my while and still be able to give the best teaching that I can to the people that are involved.
Joe: So I hope that answers the question. There is a reason that we’re involved in this program. I want to make money – I don’t mince words about that. But I also want this to work for you, and I want it to work for what you can do.
Joe: You have another choice. You can do the hard knocks methods. That’s how I did it. I made a lot of mistakes because I didn’t have anybody teaching me how this process works. You can go out there and make a lot of mistakes. You can also find someone to teach you. One of the suggestions that I made to folks in the past is put an ad on Craigslist. Find these guys that have these listings that have, ‘I’ll buy homes for cash’ or whatever – people that are out there being investors.
Joe: Some of them are real investors (most of them aren’t) – some of them are real investors, and if you can find one that’s a good real investor, make them an offer. Say, ‘Look, I’ll come and work for you. I’ll work 20 hours a week, no charge, for 6 months. You teach me as much as you can in that period of time. I’ll bust my butt for you. All I ask in return is that you give me the knowledge.’ I’ll bet you can find somebody doing it that way.
Joe: Now, you’re going to bust your butt for a long time. But you have to decide if you have more time or if you have more money. If you have more money, then it makes sense to invest in your training. Pay somebody who you know has got a training program and is ready to go for you, or invest your time if you don’t have the money. One way or the other, you can make this work. It’s entirely up to you. You have to decide whether or not you’re going to move forward or not, or whether you want to pay for it or whether you want to learn it yourself. It’s your call. I hope that helps, Brian. Thanks. Bye.