Property Coaching/ Advice

I think it is easy to be cynical. In the property business there are many reasons to feel this way. Many companies use mentoring as a method of simply selling a product. Now to be far why should anyone share there knowledge for free. If you go to an accountant a solicitor or any other professional would you expect there services for free?

I have been dealing in the United States and am also involved in property development. My view is that my role is to help my clients make money. Naturally I make money as well. However I know that I can help people make more money than they can do on there own.
I think that a mentoring service should be about helping people do the deals. Because you can teach people information however without the knowledge and experience it is still difficult. My suggestion is to talk to the person and see what there vision is

Hi Paul

I think there's a difference between a "mentor" and a "guru/spruiker" and a "coach" for that matter.

 A guru spruiker is probably selling you their product to invest in, a coach may not be the best property investor out there, but knows how to get the best out of people and a mentor is a person who has walked the walk and is probably still doing it.

Fredo's advice is strong and I would look for a mentor in the field you choose if you want to fast track your investing.

A lot of people forget that investing in your education is ongoing and in property investing it's no different. You should be continually adding to your knowledge base. If you decide that the best way is through a coaching programme, then so be it, there are some genuinely great ones around.

If you want free information, then go knock yourself out! There's a ton of info available in every investing strategy type.

Ian
http://theblockblog.com
Free Property Investment Info, Tools & Resources for Investors with a Sense of Humour

A mentor can be a great asset but you need to be careful.
 There are a lot of places offering mentoring. Some are franchised off and some of the "mentors" have not been in the game that long.

With the ones touting their courses there are differing levels also. There is BIG money in selling your system with a 3 day workshop. Average around $6,000. Sometimes there are 50 people at the 3 day workshops That's a cool $300K (minus venue costs etc) but still not a bad deal.
It's quite comical watching how they hype people up with their "only 19 places left at this price". "book now and also get a set of steak knives". etc.  But it works. Watch the people run to the back of the room to sign up. Some sound so wonderful how could you not believe you'll make double your money back on your first transaction.
Maybe the presenters get a buzz out of it. I know I could talk property till the cows came home (showing my age now). I'd love to run seminars and teach people about property (except I don't know enough and I hate talking in front of people). haha small hurdles I know. .

The thing is everyone wants the easy road, get rich quick scheme. Not that I'm saying they are all that. Most have really good ideas and strategies but it would be interesting to know what % actually follow through and make money. It would be pretty small I think.

I think it's better to start with what you are comfortable with, instead of some hair brained scheme, then step up to the next level.

Having likeminded people around you is definitely a huge advantage. Join a club or go to meetups etc. That's how I got motivated to get moving. When you meet people just like yourself you think "if they can do it so can I". It's as simple as that. Most people are willing to help others get started. I think a lot of the big guys are just like that too.
Actually I think it's funny that others don't take advantage of those around them. I went to a weekend seminar last week. Sat next to many different people, both in the lectures and at lunch. You say hello. People don't talk. I'm always asking what people are interested in, what strategy the are following etc. Lots were beginners. Very rarely did anyone ask what I was doing or investing in (maybe they thought I wouldn't know anything??). Silly misconceptions robbed them of maybe finding out something that could have helped them on their way.

Reading books is great but talking with people that are doing it is very powerful. There's a quote (which I can't find) about half an hour with a learned man is worth a thousand books (something like that).

Alot of the capital cities have property groups, maybe you could go to some of their get togethers. They are free as well.

There is a meeting in Canberra mentioned at:
https://www.propertyinvesting.com/forums/community/heads-up/4333485?highlight=canberra%2Cproperty%2Cgroup

If that doesn't work just do a search on this forum for Canberra Property Group.

Cheers,  Paul

Hello Paul

Welcome to the forum and the world of property investing.

You've posed a good question. As Marketing Manager for Investors Direct, I would naturally say that you should check out some of Bill Zheng's articles (he's our MD) on our website at http://www.investorsdirect.com.au/articles.html

But I say that because I think you would find he has a good "alternative viewpoint" to a lot of what many of the other property "spruikers" out there would say.

I do know that when it comes to mentoring, Bill has many clients who seek his counsel on a regular basis. They come in a for a 6 month review, sit down with Bill who goes through their portfolio with them, asks for an update on their plans and goals, what's happening in their lives right now, what their future plans are and how they are going in achieving their goals. Based on their discussion he then recommends some fine tuning of their portfolio or in some cases.. just a steady as she goes approach.

Coming from a finance, rather than property background, Bill has a lot of "smarts" around money and finance and ultimately that's what a lot of clients are seeking, some financial mentoring. Our Language of Money program for example provides a strong and solid foundation of financial discipline which is the best possible underpinning to any investing strategy, property or otherwise.