Be Your Own Mentor

Everyone is a mentor, that is the point, everyone has something to offer, then the ball is in your court

I personally have in the main sourced my own deals, regardless if I am not in a particular State and I can employ someone who has the expertise to source a property they I may/will consider this.

However the outcome of the deal is my responsibility. I never ever take it as a given that the deal will make me money. I need to review and verify the information provided.

There are BA and there are BA, and it is difficult to find a BA that is a cut above the rest.

 

But it's tax deductible

 

+ 1

At @Be Developer , we go by this simple motto(shortening your sentence above)...

People,Product,Profit.

That Motto applies to both side of business, Buyers Agency and Property Development!

we are proud of People we work with.
we offer/build Products that are attractive, affordable and useful.
and so far we are Profitable company.

 

Not all mentors get paid, some people just like helping others for free, what goes around comes around. I have had many investors help me over the years.
Many on this forum give out free valuable advice everyday ie accountants, brokers, investors etc.


MTR

 

Just had to put this up!

 

A good investment principle most of us know is to use OPM (other people's money).

But people forget the value of time! There is another thread on it recently and some say time is priceless.

Using OPT (other people's time) can be effective to get returns on money if you can't do it yourself.

Take a doctor for example earning 400k per annum but no time to scratch his ass. How is he going to build a great tax effective portfolio without some help? If he earns $8000 per week it makes sense to pay a BA rather than spend 3 months finding a negotiating the perfect property.

Even for smaller incomes some of us don't have the time due to job, family or even life hobbies..

 

DanW

I totally agree with this.

However, it can also be high risk if you employ the wrong people/professional

How do you know if they are wrong? if you don't know what you don't know?? Just from my own personal experience its a good idea to do lots of checks and verifications on the background of the company/person you are dealing with. Smokes and mirrors comes to mind, their are companies out there that gladly take your money but providing a very poor service.

Regardless of profession most important aspect for me is their track record.

MTR

 

Good point and something I should have mentioned!
Especially if it's an expensive service like a BA.

Read a good post on this due diligence process actually by @See Change
https://propertychat.com.au/communi...nce-on-other-people-why-we-didnt-invest.4570/