Finding The Right Property Mentor
Having the right guidance and advice is crucial to your property investment success, and similarly to other fields you often need a good mentor. If you are looking to kick start your own multi-million pound property portfolio then you want to find someone who can advise you on what to do, and how to avoid mistakes along the way.
When I was at university I had a tutor to help me along my way, and when I started out in property I realised this was just as vital for my success. At university I needed someone to help guide me through the modules, and property investing is no different. By having someone to help you avoid common expensive mistakes when investing in property, you will be able to set clear and achievable goals, and come up with a strategy which encourages you to stick to one plan.
By doing this it will provide you with the motivation you need to get started. For these reasons your property mentor must be the real deal and already be successfully investing in property themselves.
- Make sure they listen before giving you any advice - The support and guidance needs to be tailored to what you want to personally gain from property investment, as each investor is different and your property mentor needs to consider this.
- Make sure you are able to set out a clear plan and strategy before you start - By ensuring you have a clear plan in place and a good understanding of where you want to go with your property investment, you are less likely to make any mistakes. Sharing your ideas, strategies and goals with a mentor who has previously been in your shoes will be able to guide you in the right directions, so that you can avoid making those common mistakes.
- Make sure they are the real deal! – If you want the right guidance on how to avoid any costly mistakes, your mentor must have experience in the field first hand themselves, or their advice is probably not going to be very useful. Ask for referrals and to speak to previous people they have mentored for a testimonial.
- Avoid those who immediately ask for a payment – A one to one chat regarding your investment goals should initially be free, so that you can highlight your current situation with your potential mentor. By doing this it will allow your mentor to see if they can help you, and avoids wasting anybody’s time.
- Make sure you can contact them - A great property investment can appear at any time and you want sound advice when this does happen, therefore you should be able to get hold of your mentor when you need them the most. The whole point of a mentorship, especially a year-long program, is that you have the support through the day to day and weekly or monthly issues that may arise.
- Make sure you set realistic goals - There is no use setting unrealistic goals and similarly there is no use in someone telling you are doing well when you are not achieving your chosen goals. Ensure that you go with your ‘gut instinct’ and choose a mentor who you feel is trustworthy that sets you achievable investment goals.
By following these tips you should put yourself in a fantastic position to find the right mentor for you long term, which ultimately will give you the best chance of success and fast track your achievements.
- Peter Iwaniszewski