The Real MF Guys Show Episode #19 with Chris, Eli & Nathan, owners of Atlas Multi Group, focusing on setting goals and if you really do need a mentor. The Real MF Guys Show
There are a lot of mentors out there who are going to teach you or help you with your decision making. It could be a coach around physical goals or diet, a business coach, investment coach or even a financial advisor. The question you should be asking though is, should I be paying them?
It depends, initially in a lot of situations yes. If you lack a certain skill set, capital or network, a lot of these mentors can help you grow in that capacity. The better question is how long do you hold onto one. Eventually you will probably grow to a level where your ideas, markets you're in, or directions you want to go, don’t align with your mentor anymore or your goals.
We, Atlas, all met in a mentorship group that we joined to quickly learn the general partnership side of running a multifamily deal. Instead of starting from the ground up we traded money for the setup and blueprints on how to get started.
You cannot buy success, you are buying a better opportunity for success. That opportunity is still what you make out of it. A lot of people join mentorship groups for knowledge and growth but then fail to meet those objectives. You should have clear goals when joining a mentorship program you are investing money into. A mentorship group is going to potentially give you the easy button as far as process and connections whereas as a mastermind is going to be the accountability side of things. One will help you define and build yourself up from the bottom whereas a mastermind will help you build from where you are currently, into bigger steps.
If you are going to be investing in a mentorship, know what you are going to get out of it. How do I get the value out of it, is it feelings based or logic based? Don’t pay money to see deals! Limited partners should not be in a mentorship program unless they eventually want to move up into syndicators.
At Atlas, we are not mentors and we are not going to teach you how to do the business. We will however, teach you how WE do the business. We’re not going to teach you the industry, the inside and out of what we are doing, but we can show you how we do things with our little subset and why we think it's important. This allows you to feel comfortable with what we are doing and make sure your goals align with ours. You don’t necessarily have to pay a mentor for that, and we are not mentors, we are operators. We have a program called Couch Cash Flow Challenge (CCFC) that walks you through defining your goals, where you want to be and if a mentor is something you should consider in the future.
Hiring a mentor does not guarantee success. There is still hard work involved and you can fail. Inability to take action is all too common. We see people who will come in, do all the networking, walk the properties but won’t pull the trigger. Thomas Jefferson said
This can apply to more than just investing, it can apply to your personal life as well. You can want a better marriage, fitness/health or relationship with your kids. You do all this research and read the books but don’t actually take the difficult steps to make it happen. Don’t wait, do it now. Take action!
At the end of the day we all have income and expenses. All we really need to do is create Cash Flow that is equal to or greater than your expenses, and that gets you basic financial freedom. Financial freedom may not be your goal, which is okay, our goals start at one place and change throughout our lives.
Why choosing multifamily apartment investing as your “Freedom Fighter” will help you achieve:
You are capable of anything. The only obstacle between you and achieving what you want is simply a matter of taking daily steps towards that goal. There are obstacles that will inherently come into our daily lives that hinder our ability to take the necessary steps in order to get it done.
CCFC is a tactical guide designed to give you small daily tasks to get done. If these steps are taken they will move you closer to the end result, which is to start your journey or continue it in the world that is contrarian investing.
If obtaining financial freedom is of interest to you, please reach out to Eli Vo at firstname.lastname@example.org for additional information.
We also invite you to join the API-CLUB which is a community of like minded individuals who want something more than the status quo.