Guide for Choosing a Property Mentor

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Guide for Choosing a Property Mentor

property student looking for mentor

All new property investors want to have the best possible chances of success when starting to invest in properties.

a property mentor helping an investor buy their first investment houseA popular choice for new investors is to seek and hire a property mentor.

We often want to mold ourselves like the ones we aspire to be. We want to follow their footsteps to achieve the same success we hear about on all the property tv shows and websites.

Back in our schooldays, we even have mentoring, coaching, tutoring and buddy system in order for us to catch up some lessons and even to have a higher marks.

Having a mentor is one of the common thing successful people do. They surround themselves with positive and good influencing people. All successful property investors have hung out with likeminded financiers and followed in the footsteps of the others who have already done what they have wanted to achieve. This helps them see the land mines before stepping on them and helps them achieve success more quickly and strategically.

What should be the attitude of a mentor to look for?

There are lots of people calling themselves real estate experts and many do a great job. However the recent property boom even made some below average investors look like a genius.

When looking for a mentor, you should choose whose ideas you will listen to with a good credible background.

  • They must be currently and actively investing in property using the strategies they are teaching.

Theory is good but it is better that you can see that they can walk the walk, not talk the talk.

  • A minimum of 40 property transactions to their name to prove that they had various experiences in dealing with different buying and selling situations.
  • Somebody who practices hands on in investing for more than 15 years. They must have successfully used their strategies through a full property cycle.

If somebody has managed to survive through the early 90’s (the depression we had), the middle 90’s (during low inflation), the late 90’s when we had a real estate boom and the early 2000’s when we had a real estate bust and are still able to prove that their system works.

Other signs of a good property mentor

  • Somebody who doesn’t have a property to sell you.

Now this isn’t necessary in all cases, but just something to be aware of. Ensure there isn’t a potential conflict of interest.

  • Somebody who is not selling to your emotions.

These are somebody that has the tendency to tell you such things as act now or you will miss out and somebody who doesn’t put others down to make them look good instead just look for somebody with integrity and commitment.

  • Don’t be scared to pay the right people for mentoring.

Of course our mentor is going to make money, if they are good they deserve to. If everything is revealed up front there should be no conflict of interest.

  • Avoid somebody who is offering you something exciting, speculative, or new.

Don’t look for excitement in your investments. Your property investments are your way of securing your financial future. Don’t be distracted from your long term plans or strategies by promises of quick riches. Find the system that focuses on long term wealth creation.

If you’re looking for an experienced property mentor please get in touch with our team today .

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