Finding a mentor

What would be the best place for a young person to find a mentor? I've reached out to a few people I've read about in articles with no success! Any sugggestions?

 

@majj34 - Property Chat as a resource is great. Also look up interviews section on the previous forum (Somersoft).

What are you hoping to achieve from working with a mentor for property?

 

Thanks for the reply! Just would like to learn where to look, what factors to take into account, how to properly evaluate a location to ensure there is growth, what strategy to pursue in order to grow a property portfolio. Just seems hard to find someone.

 

You can find my pricing on my website. I also have a handy payment plan.
I also offer dinner and dancing services as well as mentoring. Email me for a package deal

 

I think the easiest way to start would be to find an investment savvy mortgage broker.

Not only will they be able to determine how much you can borrow, they can be a wealth of knowledge due to having access to different types of people at different stages of investing via their clients.
Probably best to decide on which area: state/region you want to invest in and then choose a broker that is based in or specialises in that area.
Reach out to multiple brokers before you make a final decision. Ask them if they are familiar with the area, either through their own investing or that of their clients base.
This will allow you to pick their brain regarding different strategies (or any other questions you have) whilst they educate you on how to structure your finance once you begin investing.

Most brokers on here are business members I believe and you can usually tell from their signature. Plenty to choose from on this forum!
Obviously you will speak to other professionals such as accountants, BA's, PM's, etc as you build your team but I think finding a suitable broker is a good place to start.

You can PM me for my recommendations if you like.

 

You've got plenty of time, read the forum.
All the answers are there and within yourself.

You're asking about the basics.
A mentor may not be required until you reach really advanced stuff, if at all.

 

Learn fundamentals and don't look for a 'mentor'. There should always be a 2-way exchange.

Make friends and over time as you grow and develop your knowledge and skill-set, those friends may become mentors, and further down the track, JV partners.

As you grow with experience you will naturally gravitate towards more savvy circles.

I started by asking people out for coffee or organising meet-ups (not with the intention of meeting mentors, just to make friends). I would also pull over at development sites and find out who owned the business, research them then approach them at their office.

I am yet to have been 'turned-down' using this approach.

Note:
The 'use professionals that are open to mentoring' approach works also. My word of caution is to ensure you understand the end game with any advice provided. Will each purchase get you closer to your end goal by your desired deadline.

Also not all types of investing are the same. I'm becoming a NMD / HMO / multi-res specialist. Not the same sort of mentorship and advice you'd get from a buy-and-hold / OTP or subdivision investor, although the styles may cross paths at some point.

 

Start with @Property Twins

 

When the student is ready, the teacher will appear. Or something along those lines.

Read the forums. Spend a good 2-3 months here digging old posts.

 

This is what happened for me, I hung around on this forum for a while and someone contacted me when I put out a question, they then became a trusted knowledge resource then transitioned into a friend whom I feel I am truly lucky to know.

A few months later a second person presented themselves to me again offering some help when I least expected it, He also moved quickly through trusted knowledge base to friend.

At one point I was using the word "mentor" to describe these two people but in all honesty, I think "Friend" is truly the only way I can think of them now .

 

The best mentor for a young person is their own parents.

 

Unless their parents are ummm.... not good role models...

 

Sadly not always the case, is it?

 

I'm happy to torment anyone for 5k a pop.

 

Need I state the obvious?

If you're looking for a mentor for your own kids, then you need to step up and be the mentor you want them to have. That may require you to find someone to help yourself.

If you're doing it for someone else's kids, then you can still be their role model, but it's their own parents who will likely have the greatest influence on those kids. If a friend is making a mess of their kids lives, unless child recognises it and wants to change, there's not a lot you can do about it other than be a role model for them to see (if they can).

Be the best you can be. That may be a rung in the ladder for someone else and other people may be other rungs. The person at the bottom still has to want to climb. When they're ready the ladder will still be there.

 

Not sure what the 'Need I state the obvious' comment is about. You said parents are the best mentors for their kids and I was just saying, actually that's not always the case. Anyway, no big deal.

 

not always the case.

Op is looking for a mentor for themself to learn from as i read it.

It would be good if parents stepped up and learnt property investing to then pass on to their child but in reality its a different story.

We may need a site poll: How may PC'ers parents invest in property?
-Do your parent/s invest in property
-Do your parents invest in other
-Do your parents have very basic knowledge of investing eg PPOR home loan/term deposits
-Have your parents been burnt investing in property or other!

It's all good to teach your kids, but the kids may out grow their parents abilities once the kid becomes an adult. Hard to teach an old dog new tricks if they have no interest, along with the kid leading their own life and having their own ideals and establishing their own path in life.
I outgrew my parents at IP 1!! They have no interest as they don't have the coconuts to invest in property. Also had a bad taste left in their mouth after buying at the peak and selling before next upswing, plus a kitchen fire thrown in!

 

@majj34 I was in a similar position 1 years ago.. I didnt know much about property and where to start with. I was looking for a mentor but everyone that I came across initially I felt like were trying to rip me off. So these are the things I did.

- Write down a achievable goal (what are you looking for, what time frame, what is currently achievable for you, what can you achieve in 5/10/15/20 years)
- Write that down on a place you see everyday and visualize it.
- Went to every free property seminar I could find in my city (Do not trust everything that is said in the seminars do your own due diligence, some advice is spot on some not so, do open your wallet at these seminars)
- I wrote down every concept and strategy I was shown, came home and digged deeper into the strategy by using this forum and other resources online. Worked out which is the best option for for what I was looking for.
- Read +15 books on property during the last 12 months.
- Subscribe to a good property magazine
- Find yourself a good mortgage broker, financial consultant and tax accountant.
- Shutdown any person who says you can't achieve your dreams
- Don't go looking for a mentor to start the journey, you will find your mentor when you start you journey. (In my case started speaking to few people who have invested in property and are successful once I started investing, they have opened my eyes and shown me the path)

 

The further you go down a path, the more of what you have learned seemed the basics.
After a 15 years in an industry, I see the first 10-12 years as "the basics".
A mentor that could teach it to you in 1-3 years allowing you to move into advanced stuff far ahead of time puts you light years ahead.

 

fixed that.