In this eye-opening episode, Charles Dobens shares his first-hand experience with the worst coaching/mentoring contract he has ever seen in the real estate industry. With over a decade of experience in the multifamily sector, Charles sheds light on the hidden traps and predatory practices lurking within some coaching programs.

Through anecdotes and legal insights, Charles exposes the pitfalls of ambiguous contracts, exorbitant fees, questionable clauses, and profit-sharing arrangements that may jeopardize your investment ventures. He offers valuable lessons for both novice and seasoned investors alike, empowering listeners to navigate the complexities of coaching deals and avoid falling prey to deceptive or manipulative tactics.

Tune in to discover the importance of due diligence in selecting a coaching program, and how to identify red flags before signing on the dotted line.

Listen to all our episodes and leave a review: HERE 

Subscribe:  Apple | Google Play | Stitcher | Spotify

Navigating Pitfalls and Avoiding Predatory Practices in Real Estate Coaching

In this engaging and insightful discussion, Charles Dobens delves into the complexities and potential pitfalls of coaching and mentoring programs within the real estate industry. He begins by recounting a troubling experience from around 2010 when a prospective student approached him while already engaged in another coaching program. Charles was shocked by the exorbitant fees and profit-sharing arrangement outlined in the contract, which he believed would severely hinder the student's ability to succeed in real estate investing.

The crux of the issue lay in the contract's wording, particularly concerning the definition of "net profits" and the consultant's ability to take over deals, cutting the student out of potential profits. Charles meticulously analyzes the contract clause by clause, revealing how seemingly innocuous language could have significant repercussions for investors. He emphasizes the importance of thoroughly understanding contracts before signing and the potential consequences of entering into such agreements blindly.

Despite the alarming nature of the contract, Charles also shares his current focus on hotel-to-apartment conversions, highlighting the lucrative opportunities in this niche market. He encourages viewers to join his program for hands-on experience and practical insights into the real estate business.

Throughout the discussion, Charles expresses frustration with inexperienced individuals posing as experts in the field and offers valuable advice for navigating the ever-changing real estate landscape. His blend of personal anecdotes, legal expertise, and industry insights makes for a compelling and educational discourse on the challenges and opportunities within the real estate coaching realm.

Learn more and sign up to the Hotel to Apartment's (H2A) Cohort Waitlist

Check out Charles' MultifamilyOS™ Business Builder Program HERE

We Need Your Help! 

Thank you for being a part of the MFIA Podcast community! We couldn't do this without you, and we truly appreciate your support.

If you've found value in the conversations and interviews we share each week, we would be incredibly grateful if you could take a moment to help us out.

By subscribing to the show and leaving an honest review on iTunes, you can help us continue to deliver the best possible content and reach more investors like you.

So please, take a few minutes to leave a review and let us know what you think. Your feedback means the world to us! You can leave a review by simply heading: HERE

Thanks again for listening, and we can't wait to keep sharing amazing content with you.