Property Coaching/ Advice

Hey Guys,

Im new to the site so please excuse this post if the question has been raised before.

Simply put i want peoples feedback on property coaches and gurus etc and your stance on them either beneficial or not. I am currently undecided as to the integrity of a few of the property coaching courses out there.

One of the opinions i have is ( Please feel free to post your opinion or disagree with mine ) if the investors/advisors that host these events are so wealthy and successful within their own investments why would they take the time of day to host these events. I admire that some may be doing it out of the good of their hearts but being a born pessimist i am cynical and dont believe this to be true.

Many offer a money back guarantee but as with everything i suspect it comes with a list of conditions as long as your arm.

Another reason i share this opinion ( maybe abit over the top) if you where a investor why would you want to coach thousands of people on how to acquire properties that you could potentially be interested in ?

I am new to property investing and i hope that does not reflect in the statements above. I value all of your opinions after all you guys are the experts.

Finally if you are one that is not pro property coaching can you advise me on how to get more investor savy through some of your techniques, and as mentioned above i do not think there are any right or wrong answers so any help would be greatly appreciated.

Cheers Paul

Likewise any property investing coaches please post your side of the story

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

Nigel Kibel
Australian and New Zealand The United States Property Researcher and education
www.propertyknowhow.com.au

Thankyou Nigel for our feedback, Going by what you have said in your post you are involved in property development overseas and also run a property education service.

Taking that into account i assume that your investments are your main source of income (correct me if im wrong) how do you work your schedule to the point where you are able to both seek investment opportunities and run seminars on property education. Do you use a team of property managers, solicitors etc etc to decrease your workload on investment side of things and focus the majority of your time on education courses.

I appreciate that nothing is for free and working in a trade i know all to well that people expect everything to be done cheap when in reality it just does not work that way. Being a solicitor or property manager etc etc yes they all have to earn an income but this being their primary source of income (again guessing here) i understand. Dont take me wrong i believe that property coaches are a great idea and by the sounds of it Nigel you have helped alot of people on their property investment track. I am aiming this more towards property gurus that hold courses in excess of 7-8 thousand dollars that claim to be property millionares and retired etc what is their motivation behind holding seminars. I am not in any way disproving or trying to deabate anyone doing this with the true intention to help people because i think that they should be commended for their efforts. I do not want to offend anyone just asking questions and looking for opinions.

cheers Paul

I can also agree that you have to have experience in the field of investing in order to educate people on the correct method mistakes etc

I am involved in property development in Australia and general investing in Texas. If you are interested in property developments send me your details and I would be only to happy to have a chat.

Nigel Kibel
Australian and New Zealand The United States Property Researcher and education
www.propertyknowhow.com.au

Can the information you need to invest be found in books, movies, blogs etc and how did the coaches themselves start in the world of investing did they require coaching?

Paul,
Welcome to the world of property investing.

I think the most important thing is to do some research on different property investment strategies. There are many of them out there. Some of them include:

Buy and Hold;
Flipping;
Cash Flow Positive;
Renovate for Profit;
Developing;
Rent to own setups;
Buying in the States;
Mining Towns;
Inner City Suburbs;
Regional Towns;

As you can see there are a few. What you need to do after you do a bit of research is to work out your financial position, lifestyle, goals and time available. From here you will have a bit of knowledge what may suit you, from here you can find yourself a mentor etc.

Down the track with more experience, you may decide to diversify in a couple of the above to suit your revised position or to suit the market.

I think the important thing to remember is should you not do research then you may go to a mentor who's strategy may not suit you and be sucked in by their spruik about their product which of course they will recommend.

Do a bit of research come up with a couple of strategies you may think suits you then go to a few different mentors.

Just don't use up all your deposit on paying for their services!!

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

Ian's distinctions between coaches, mentors and gurus is really helpful.

Out of the 3, I think that the best is a mentor.
They actually know what it takes to get the result you want, and they have a proven track record of doing it themself. Therefore, their advice would be very valuable.

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).

Sydney- "People with goals succeed because they know where they are going... It's as simple as that."
- Earl Nightingale

Hey Catalyst,

Yeah, I'd be wary of people claiming to be "mentors" when they're really not. That's why if any of you are keen to get a mentor, make sure that you actually ack them what kind of experience they have, and maybe even SHOW you proof of that experience.

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

Thank you for the ideas guys, ive heard somewhere that talking to or being around like minded people is very beneficial, just out of interest is anyone here from Canberra.

There is a meeting in Canberra mentioned at:
http://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

Paul Dobson - Vendor Financier - http://www.negative2positive.com.au
Ph: 0447 973 235 - http://www.jvpropertypartners.com.au
http://www.vendorfinanceinstitute.com.au

Hi Paul,

There are lots of options avauilable to you. Nigel, who has answered your post already would be a very good option. I have many clients in common with Nigel and am happy to recommend him. There are also plenty of others, some of the better ones that I know of are RESULTS and Jennie Brown. I also have numerous clients in their respective programs.

Having said this, there are also plenty of dodgy people in this industry, so be very careful when making a decision. Forums like this are a good sounding board.

Regards
Alistair

Alistair Perry | Director
Perry Finance | Ausrtralian Credit License: 387 307 | Level 13, 30 Collins Street, Melbourne VIC 3000
P: (03) 9639 5333 | F: (03) 9662 2044 E: alistair@perryfinance.com | www.perryfinance.com

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.

Mark Farrelly
Marketing Director
www.investorsdirect.com.au

I think that Mentoring is important. However it is important to have a mentor who helps you do the deals as well.

Nigel Kibel
Australian and New Zealand The United States Property Researcher and education
www.propertyknowhow.com.au