One way to financial freedom is through buying discounted properties and then selling them for an incredible price. But there’s more to doing real estate than that. To be successful in the business, you need a blueprint, a guide to developing how you approach the business—physically and mentally—so that you are prepared for any scenario.
Fortunately, in today’s episode, Brent “Mr. TTP” Daniels will discuss the 10 things you need to know when looking for an effective coach. He will also talk about the value of having a coach when you’re starting a wholesaling business.
10 Things to Look for when Considering a Real Estate Coach
This is a unique show because it’s just me. Typically, I am interviewing the absolute most incredible wholesalers from around the country and sharing their stories. What that does is show everybody out there that if you truly have a passion to be a real estate entrepreneur that you can do it. That’s why this show is the most popular wholesaling real estate show ever.
I want to talk about the difference between mentorship and coaching. I’ve always heard both of those and I never knew what the difference was, so I dug into it. The fact is that mentorship is more about increasing your understanding of something. It’s more like education. It’s more like being around a mentor that you’re seeing how they move and what they do, but you’re getting an education. It’s not like, “Go do 1, 2, 3. Go do this action plan and you’re going to be successful.” That’s more coaching. Coaching is more about increasing performance and increasing results.
I’m sure a lot of people that are reading have had some coach in their life that has made a huge impact on them. Mentorship is fantastic but mentorship, I feel, is more like you get a lot of indirect mentorships from shows like this, from YouTube Channels, from reading books. That’s like an indirect mentor. There’s not a lot of going back and forth. The coach is more involved. The coach is more about getting you to your goals. Setting up a plan to get you to your goals as fast as possible. Let me break this down because this is important.
These are the ten things that you should be looking for in any real estate investing coach. A lot of people out there are successful reading this show and they’re thinking about getting into coaching. That’s fantastic. Spread the love. Spread your knowledge. Go out there and make a difference, but make sure that you’re focusing in your coaching programs on these ten things. This isn’t an advertisement for the TTP Coaching Program.
Although, I’d be thrilled if you decided to join. This is only something, whether it be a local, a coach, whether it be somebody that you feel the energy. You think that they’re going to be an unbelievable coach for you in your business and it feels good in your gut thinking about them and thinking about working with them, then go with them but look for these ten things. Let’s start this up.
Direction And Instruction
Number one, giving solid direction and instruction in all parts and all phases of the wholesale business. There are seventeen steps to being able to understand all of those and peer around corners so that you can feel confident. When you feel confident, your courage all of a sudden, swells. You start getting more courage and you start taking more action. It’s very important that, number one, your coach is giving you solid direction. The actual game plan and action steps that you should be taking every single day to become successful. Critical. Good direction is based on the goals that you have set.
Good real estate coaching should involve giving solid direction and instruction on all parts of the business.
Develop The Skills
Number two, developing the skills of a successful real estate entrepreneur. What do I mean by that? We never went to school to talk to strangers about their properties. We didn’t go to school learning how to pre-qualify property owners to see if the services and the offers that we can provide them are going to solve their problems. These are skills that we develop. We didn’t go to school and they’re like, “This is how you understand if this is a deal or not a deal, how to comp a property or come up with the valuation of properties or how much the fix-up cost is going to be on a property.” All of these things matter.
All of these things are skills. Negotiating with that seller and with the cash buyer. Determining the best game plan for each and every property. Is it best to wholesale it, wholetail it, flip it, or keep it in your portfolio? These are all skills that need to be developed. Lead follow-up. Following up with these leads effectively is important. Knowing what to say on an offer presentation is important. Being able to build a robust cash buyer database. These are all skills that your coach should be helping you develop or if you’re a coach, you’re helping your students develop.
Discipline And Consistency
Number three, developing discipline and consistency. I wrote something here. I want to read it because it makes sense. Discipline is working when you’re supposed to. That’s it. It’s taking action when you’re supposed to, in this business, I mean. There’s a lot of discipline in your life, in your world, and whatever else. In this business, it’s working when you are supposed to. Anybody ever had any problems with discipline? We’re out there. We’re not treating it like it’s a job. We’re not treating it like we have to show up or else. Sometimes it’s tough to do what we’re supposed to do.
A coach pulls you in and helps build that discipline and consistency. A coach recognizes that this business is so incredible and the amount of money that we make is so huge per deal. I had never ever in my life seen checks as big as I do. Most people that I coach send me DMs and send me checks, they’re like, “I did it. I can’t believe this. I’ve never seen a check this amount before. I’d never seen this much money wired into my account, sitting in my account.”
First time somebody gets a $5,000, $10,000, $20,000, $40,000, $100,000 check is life-changing. Do you know what happens? All of a sudden, the discipline and consistency go out the door. All of a sudden, instead of consistency, we get complacency because we made more money. We’re sitting there with $50,000, $60,000, $80,000 in our bank account that used to have $38 in it. We’re like, “I’m the richest man in Babylon. I am the greatest. This is incredible,” then your like, “I won’t make calls. I’m not going to do my follow-ups. I got to do something else. I got to go enjoy the time that I had.” That’s fine but if your goal is to build an incredibly successful business, you need a coach to snap you in line or you need to be the coach that snaps you back in line and says, “That’s over. That’s in the past. What are you doing now?”
If you start now at zero and act like you have $0 in your account, zero leads, zero opportunities, you are going to hustle now. You connect all those days together and all of a sudden, you’re getting that consistency and you’re closing on deals and your business has taken an upward trajectory and not a rollercoaster. Not only that. That’s not even the biggest risk. The biggest risk is getting a big check and instantly trying to scale. I’m going to go and I’m going to increase my expenses by a ridiculous amount because now I am going to build this business. I’m going to be a true business owner. I’m going to step out of being self-employed and I’m going to be a business owner. I’m going to work on my business, not in my business. Until you build up the discipline and consistency, the business isn’t going to last.
I’m not being negative. I’m telling you time and time again, if you’re not building in the discipline and consistency, you’re not going to get that out of the people that you hire. Now you’ve got their financial responsibilities in your hands. Not only them but their whole family. Discipline and consistency. Number four, accountability. Do you know what’s tough? Do you know what’s exciting, energizing, and fun? Writing goals, coming up with goals, putting something out there and makes your heart beat fast.
It makes you sweat and shake a little bit. All the synapses and neurons and all the electrical charges in your body all of a sudden are alive. You’re like, “My life, if that was my life, when that is my life, it’s going to be incredible.” You get out there and you start taking action. All of a sudden, nobody’s there watching you. You’re not in school anymore. There’s not a teacher grading you on your performance.
I want you to imagine this. Imagine if I followed you around during the workday. Let’s say from 9:00 AM to 6:00 PM every single day, for a week. What would I see? Would I see slippage, creative avoidance, unbelievable, unstoppable action, and enthusiasm and energy? That’s how you have to think. Not only that, a lot of accountability comes down to feeling lonely. Accountability comes down to the fact that there are 9 billion people on this planet and there are 10,000 wholesalers. That seems like a lot in our little world, but not compared to the regular world. You talk about wholesaling real estate to your friends and family and people you go to church with or whatever else. They’re going to look at you like you’re crazy. They have no idea what you’re talking about.
That’s the absolute truth and most of them don’t. Even people that are in real estate. A lot of it is accountability. It’s also being part of a community that not only that understands what you’re going through because they’re going through it themselves, but that are doing more than you now. You had a $40,000-month. They had a $340,000-month. That’s what I’m talking about. That’s where accountability is. It comes from coaching and the community.
Create A Strong Mindset
Number five, a good coach should help you create and strengthen a strong mindset. It’s the truth. There are so many things trying to tear our attention away from focusing on our business. There’s so much. Things are thrown at us every day. We all get, let’s say, 87 notifications pop up on everybody’s phone every day, trying to take us somewhere, trying to take us off wherever we should be. A lot of that is negative and because of that, a lot of it starts creeping into our mind, into our subconscious. A good coach is going to help plunge that out of your brain. He’s going to help encourage you to read more, listen to more exciting things, and to participate in a community that’s taking action and squatting up with a great network of people that are successful.
A good coach will help you create and strengthen a strong mindset.
Schedules And Time Management
Number six, develop a schedule that will lead you to the goals that you set. This is the toughest one. There are three parts to a schedule. Time management, priority management, and energy management. That’s all mixed in, all combined in to developing a successful schedule. A coach is going to help figure out and help put you in a position so that you have a nice clean schedule that you can work from so that you can take sustainable action.
Number seven, efficiency. Doing more in less time. That’s all it is. A good coach is going to get you where you want to go in a year where it would have taken you five. In a month, where it would have taken you six months or a year. A coach skips you to the front of the line. That’s what a good coach does. They skip you to the front of the line and most of that job is helping you avoid shiny objects. If you literally focus on taking the action that a good coach is going to show you to take, you will win. The problem is there are so many exciting different things that are pulling at you. A good coach is going to keep you focused and keep your efficiency high so that you can do more in less time.
Develop Your Systems
Number eight, develop your systems. I’m excited. When you’re at that point, when you’re ready to hire people in scale and start working on the business, not in the business, and start building something special and long-lasting, you need systems in place based on businesses that have long-lasting success. That’s what a good coach does, helps you develop and build those systems, shows you those systems so that you can keep evolving every single day, week, month, and year so that you’re not repeating the same income over and over every single year.
Number 9 out of 10 is profitability in income. A good coach is going to help keep you profitable. Wholesaling is an incredible business, a cash machine, an ATM. It prints money, but how are you with your business expenses? How are you with the discipline of your business expenses? How much are you taking home for you and your family? The whole point is this business is to make money so that we can pay off consumer debt so that we’re not truly working for somebody else and so we can buy assets that will replace our income. That’s what we’re looking to do. That’s the path. First, we find discounted properties. Next, we replace our current jobs and be able to do this full business time and be a true entrepreneur or at least self-employed.
The third step is paying off your consumer debts so that you’re not making all this money and paying some interest to somebody else, which makes no sense. That doesn’t build your wealth. It builds somebody else’s wealth. You get rid of your consumer debts then you start buying assets. The last step is your passive income from those assets to pay for your expenses. When I say every single time that I open up this show, finding discounted properties is the most proven path to financial freedom, it is the truth, but you got to be able to go through that. You got to be able to have enough profits to go home to you and your family so that you could pay off those debts, buy those assets, and replace your income with passive income and cover your expenses. That’s financial freedom. Isn’t that incredible?
Confrontation And Growth
The last one is confrontation. I don’t mean like I’m going to attack you, speak down to you, yell at you and scream, and be some tire and turn anything like that. No, I’m talking about asking good questions. That’s what a coach does. “Bob, your goal is $350,000 this year, right?” “Yes.” “You’ve made $50,000 the first quarter, the first 90 days of this year. How are you going to make $300,000 in the last nine months of this year? How many leads do you need? How many appointments do you need to go to? How many deals do you need to do? How do we increase the amount that you get for every single deal?”
That is coaching and confrontation. That’s what helps people succeed. Having somebody that’s going to call you out. Having somebody that says, “Is $350,000 your goal?” This is your goal. “If your goal is $10,000, I’ll help you get there but your goal isn’t $10,000. It’s $350,000. Here’s the game plan, go after it. If you’re not, why not? Is it truly your goal? Is it? We need to do this and this to get back on track.” That’s confrontation and being a good coach. That’s number ten.
To recap, let me hit it to you one more time. Good real estate coaching should involve giving solid direction and instruction on all parts of the business. Developing the skills of a successful real estate entrepreneur. Developing discipline and consistency. They will give you accountability. Provide accountability. Create and strengthen a strong mindset. Develop a schedule that will lead you to the goals that you’ve set.
Get you efficient. Build in the system. Show you the system so that you can grow and develop and evolve day after day, month after month, year after year. Make sure that you are profitable and that your income is high. Number ten, keep you on track and confronting you about your goals. That’s what a great coach does. Ten things. Anybody out there that you’re considering as a coach, make sure that they’re providing those ten things.
If you agree with me on these things, if you think that I’ve missed anything, please, let me know. Those are the ten things that I have found to help make people that are getting coaching more successful faster. There you go. If you’re interested in joining the most proactive group in real estate investing, it is the TTP Family. Go to WholesalingInc.com/TTP. That is my coaching and training program where I work personally with you.
Check out what it’s all about. Check out the incredible people around the country that we’ve worked with, that are having incredible success. Check out all the testimonials. You’re going to have to scroll for a long time. I worked with the absolute best. If it feels good in your gut, after looking at that, sign up for a call and I look forward to working with you personally. Until next time. I always encourage you to talk to people. I love you. See you.
About Brent Daniels
Brent Daniels is a multi-million dollar wholesaler in Phoenix, Arizona… and the creator of “Talk To People” — a simple, low cost, and incredibly effective telephone marketing program…
Also known as “TTP”… it helps wholesalers do more, bigger, and more profitable deals by replacing traditional paid advertising (postcards, yellow letters, bandit signs, and PPC) with being proactive and taking action every single day!
Brent has personally coached over 1,000 wholesalers enrolled in his “Cold Calling Mastery” training, and helped 10,000’s of others who listen to him host the Wholesaling Inc. podcast, watch his YouTube channel, and attend his live events…
A natural leader, Brent combines his passion for helping others with his high energy, “don’t-wait-around-for-business” attitude to help you CRUSH your wholesaling goals as quickly and easily as possible!