Is going for a mastermind the right direction for your real estate career? What do you get from masterminds in the first place? Learning from someone can be tricky, especially if you have no idea where to go. With the rise of mentoring and coaching, a lot of self-proclaimed gurus with one-trick “get rich” schemes have come out. For masterminds, it’s kind of the same thing. Mike Cowper, the founder of the Inner Circle Elite, says that each mastermind caters to different needs, with some probably unhelpful to you depending on where you’re at with your business. Let’s see what else a mastermind veteran has to say.

These tips are from the fourth episode of the Real Estate JAM. In that episode, Mike also talks about how he works with a business partner, the value of empathy to the business of real estate investors, his systems for getting deals, and much more! If you’re interested, you can listen to it on YouTube, Spotify, or Apple Podcasts.

Mentorship and Coaching
During the podcast, Mike shares how he started his real estate career by getting coaching right from the beginning. Having an experienced person show you the ropes gives you a shortcut to getting to a higher level without the need to go through certain mistakes and bad decisions. Of course, your mileage may vary depending on your circumstances. Mike had a successful sales career and could invest significantly more in education than someone who’s just starting to get some footing in real life.

So how does this relate to those who don’t have the means to pay for learning? Well, the thing is, education doesn’t always have cost you something. For starters, Mike, who already receives coaching, says that he would have made better decisions had he learned many other things through podcasts that weren’t available at the time! Not only that, but he also discovered how to tap into his networks by inviting successful investors to coffee to learn more about them, see what they’re doing, and even figure out how you can be of help to them. Who knows? Trying this out yourself might lead you to your mentor. Just don’t be afraid to ask!

Masterminds and the Inner Circle Elite
We’ve talked about inviting successful investors over coffee, but have you wondered where you would even find them? That’s where the mastermind comes in. Mike says that one of the mastermind groups he joined helped him go from $300K a year to over a million dollars! Talk about surrounding yourself with the right kind of people. That’s one of the roots of where Inner Circle Elite came from.

The problem that Mike noticed with some of the masterminds out there is that they end up talking about how great certain people are and only focus on the good stuff. With Inner Circle Elite, everyone shares real struggles. That’s where growth takes place. Just like how a mentor allowed Mike to skip a lot of the mistakes investors make, a mastermind does exactly that, but on a bigger scale! Imagine a collection of wisdom guiding you to your own goals.

As Mike says, just because you’re earning well right now, doesn’t mean that your ship doesn’t have holes. If you get hit with tough times, those holes can sink your entire business! But having people that tell you about your blind spots or being that person to others may prove to be an invaluable asset to your whole career. So if you’re in the position to invest in learning a little more, consider a mastermind and see the benefits for yourself!

Want to learn more about how Mike runs his team? Listen to the full episode on YouTube, Spotify, or Apple Podcasts.

About Mike Cowper:
Founder of The Inner Circle Elite Mastermind – A mastermind for real estate investors across the country focused on building a better business, not necessarily a bigger business. A community designed and ran by owner / operators.

Owner of Return on Investments – Mike Cowper does more than just buy your house. With years of experience assisting homeowners, he is passionate about finding solutions where others can’t – or won’t. No matter what situation someone is in, his goal is simple – to find winning solutions for everyone involved. If you’ve ever considered investing in real estate, you should reach out to discuss partnership opportunities!

Outline of the Episode:
[01:29] Because Mike surrounded himself with the right people, he grew from $300,000 to over a million!
[06:17] Protecting yourself in business partnership. Do you do things in writing or settle for verbal agreements?
[08:13] Delegating responsibilities in a partnership by doing what you’re best suited for at the moment and communicating honestly.
[09:46] Sales: the lifeblood of the business. Why is acquisitions the most difficult role to fill?
[11:32] The value of having empathy to convert leads. People love it if you genuinely care about them.
[13:53] Even if you’re a “Wild West Gunslinger” type of a salesperson, forcing yourself into the right habits can significantly improve your workflow!
[15:18] Questions to ask and information to get when figuring out why someone is selling their property.
[17:35] If things get to acquisitions, don’t be afraid to ask tough questions such as checking if they’ve considered working with a real estate agent!
[20:08] Mike Cowper’s tips on going on an appointment. Remember, don’t call their “baby” ugly!
[22:45] Secrets to anchoring a good price point and using the power of silence.
[25:36] You have to care, but not care too much! Cheating on your numbers to help one person can limit the amount of help you can provide.
[29:19] Think of your investing career as a business, You’ll be surprised to learn more about it.
[32:38] What can you expect from joining Mike’s Inner Circle Elite?

Resources Mentioned in the Episode:
Mike Cowper LinkedIn
Mike Cowper Instagram
Mike Cowper Twitter
Mike Cowper Facebook
Inner Circle Elite
Return on Investments
Mike Simmons

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