- bjcampbParticipant@bjcampbJoin Date: 2012Post Count: 24
just wondering if anyone has a good heart and can be our free property mentor. I have paid thousands of dollars for courses and mentor courses and we still need help. So if your feeling upto giving us some guidance and knowledge i would love to hear from you.
BelindaFreckleBlocked@freckleJoin Date: 2012Post Count: 1,680
It's what this forum does every day.Richard TaylorParticipant@qlds007Join Date: 2003Post Count: 12,024
I agree forum is a great source of information sharing.
Do not pay out anything more for so called mentoring as many of us do it for the love of it and the fact that it gives us great pleasure in seeing other investors get ahead.
Yours in Finance
As mentioned- knowing where you are located will help. I keep asking for this to be on everyone sig.
What courses/mentorships have you paid for?
I'm in Sydney and invest mainly in Sydney. Strategy ATM buy/reno/Hold.Tony FlemingParticipant@the-dark-knightJoin Date: 2008Post Count: 396
Yeah I'm sydneysider as well. forums are a great tool also the hundreds of free books at your library. Its interesting to find books on investing in the 80's and see what past generations were doing to become successful investors etc.M.InvestigatorMember@m.investigatorJoin Date: 2012Post Count: 134
I agree. Stick with the forums.
What's awesome about the forums is that you get a number of different views and perspectives from many successful and active investors (not just one view from one mentor).. oh, and its free.
Also, with the forum, you can ask any sort of question any day and at any time, so it suits your needs and timeframe.bardonParticipant@bardonJoin Date: 2004Post Count: 557
Belinda, the best advice that I can give you is that you really do need to start believing in yourself first.mattstaParticipant@mattstaJoin Date: 2011Post Count: 604
Since you're looking for a mentor, I thought I'd direct you to this article about how to find a mentor.
4 questions you need to ask of a prospective mentor are:
1.Do they have the type of skills that you are seeking?
2.Do they have the industry or other relevant experience that is useful to you?
3.Do they have referees who are willing to talk to you?
4.Not to be forgotten is the important question: Can I work with this person?
I don't personally know anyone who would do it for free though. Why not offer free volunteer/intern services in return for their mentoring, that way it's a win-win for both of you?
There are many people on forums who actually are mentored in a way by other people on forums. People send PM's then get aquainted that way. Some people don't want to put all theior info and thoughts on an open forum.
Most posters are willing to help others get started. So while not technically a "mentor" they are in fact assisting people to achieve their goals. So start on forums, meet people via meetups and seminars and go from there.
Belinda, did you not meet anyone of interest at the mentoring or workshops?
Listen to lots of ideas from lots of people and cherry pick which ideas you like and which suit your circumstance. Trying to comply with everyone's ideas at once is impossible and you'll get confused and do nothing at all.Jamie MooreParticipant@jamie-mJoin Date: 2010Post Count: 5,069
Agree with Jac M above.
I often speak with people who are so overloaded with investment information that they can't make a decision.
They try to ensure that they find something within a certain distance from the CBD because that's what one guru said – while also trying to achieve a certain yield that's recommended by another guru.
It also has to be a certain property on a certain size block in an area with a certain population and a certain type of industry mix….you get the picture.
Another important thing to mention, which will no doubt sound biased coming from a broker, is to surround yourself with IP related professionals. A good broker and accountant who specialise in property investing will make your life easier.
JamiebjcampbParticipant@bjcampbJoin Date: 2012Post Count: 24
Thanks for the replies. I am located in Richmond, NSW
There are meetups that happen every few months if you are interested. It's a great way to network and chat to like minded people.
Look on Meetup.com Sydney Investor meetup will be having a new one soon in Parra or Baulkham Hills.
They also meet in Chatswood.cubster_2Participant@cubster_2Join Date: 2013Post Count: 10
I can see that this thread is old, but hopefully this will still get peoples attention.
I am new to this website. I am in a similar position to Belinda. A bit of history on my background. I'm Irish and have been living in Sydney for the last five years, now a permanent resident. I currently live in Newtown. I bought a PPOR in 2007 in Cork City and left for Oz in 2008, then the GFC hit. My property went from 365,000 euro to a current 180,000 euro. It is currently rented for 750/month with repayments of 1120/month on a 1.6% ECB variable tracker rate. That is the past, which I will have to get over.
I'm now looking to invest in Australia and have been to a few free seminars and read a lot online and have learned quite a bit. I am starting to feel analysis paralysis and I'm itching to buy another property but cautious of getting burned again. I'm trying to find an experienced Accountant, Mortgage Broker, Buyers agent and someone who has successfully purchased at least 5 properties. We all know that there are a lot of spruikers out there charging thousands for knowledge, which I don't agree with. If they are already wealthy and financially free, why not give back to society and offer a hand to help others out of the hole. I don't ever expect anything for free from anyone in life, I will always offer a reasonable amount to someone who can help me in life. If they won't accept money I can offer my own life's worth of knowledge and skills.
I am a building services engineer and I design mechanical, electrical and plumbing services for residential, commercial, pharmaceutical and oil & gas industries. I come from a family of trades and have quite a bit of hands on construction experience and can visualize and coordinate potential construction and safety issues.
The skills that I lack are finding the correct property, how to carry out due diligence on a property or suburb, negotiating purchases, pitfalls in purchasing, knowing when to use certain asset protection structures when purchasing and more.
If there is anyone out there who has managed to give themselves the freedom to do what they like as a result of passive income and would like to meet me or initiate a dialog please get in touch with me. I can offer my skills and knowledge in exchange for same regarding property investing.
I would also like to hear some opinions on what I should do with the Irish property. The one risk associated with it is my father is a guarantor on the property until the mortgage reaches 153,000 euro. I would like to get him off the mortgage documents as his house is at risk if the bank decide to be nasty.
SteveRichard TaylorParticipant@qlds007Join Date: 2003Post Count: 12,024
Firstly welcome to the forum and I hope you enjoy your time with us.
Being a pom i wont hold being Irish against you especially as we have to stick together as Lions for the next 3 weeks.
Sorry to hear about the downturn in the Irish market. i have a property still in the UK and must say the South of England (ignoring London) has held up extremely well over the last 10 years although i did buy it some years prior to that.
Couldn't agree more with you about spruikers they are everywhere and more than happy to take your money off you when they haven't achieved anything themselves.
When i first correspond with a client on either the mortgage broking or buyers agency side of our business I always say to them make sure you deal with people who have achieved financial success or on the way and are not in it purely for the remuneration it brings.
In regards to your Irish property it seems like a big loss to take in selling it however it also looks like a drain on your monthly finances and not sure how much of that you claim back in Eire.
Do you think you would ever return to the property if so would probably think about hanging onto it.
Not sure what the loan balance is but selling might mean having to put in cash in to pay the loan down and that might not be available or ideal.
Anyway more than happy to have a chat with you if you ever want to ask 101 questions.
I have been doing the odd investment seminar over the last few months in both Sydney / Melbourne so we can always catch up for a coffee next time i am down.
Yours in Finance
If I were you I'd snap up the offer to sit down and talk with Richard quick smart. Very knowledgeable fellow, and can look at all the contributing factors to your circumstance and determine the path of least resistance towards your investing goals.JT7Member@jt7Join Date: 2010Post Count: 286JacM wrote:Hi Steve
If I were you I'd snap up the offer to sit down and talk with Richard quick smart. Very knowledgeable fellow, and can look at all the contributing factors to your circumstance and determine the path of least resistance towards your investing goals.
I second that!Sure HarvestMember@sure-harvestJoin Date: 2013Post Count: 15
Its a shame you haven't found the right person to work with, even thought you have spend money to do so. the idea of mentoring as I understand is to generally working with someone who has done it before you or has access to the information or contacts you will need to get things done. The following are some myths and truths about mentoring;
1) you should be able to get along with the person
2) you trust their judgment and advice and hence can accept correction
3) you're not afraid to ask for clarity so it grows your knowledge base
4) it doesn't have to be face to face, but this can help with communication
5) it can be paid. There your money is where your heart is. Paying a mentor, means they than have a vested interest in you doing well, hence they with check their advice is sound. Its a shame your previous mentor have not push you harder on your accountability of your goals. I assume you had/have some.
6) the relationship can be terminated at anytime, but the mentor will always want to know how you are and how your going, as they invest a piece of themselves with you.
Sometimes all a mentoring is a sounding board.
My main concern is have you found why you want to invest? Spending money on mentors and not taking action sound like perhaps you're unsure of investing in property. Open to chat further on the matter if you like so you understand my background. Why, I want to mentor is it grows my communication skills and I get better at investing too. I always beleive a true mentor should aim for their mentee to be better than them.