All Topics / Help Needed! / Property Investing mentor to speed things up

Viewing 8 posts - 1 through 8 (of 8 total)
  • Profile photo of LickfoldLickfold
    Join Date: 2012
    Post Count: 1

    Hi guys

    I am new to Property Investing (my first thread) and relatively new to investing. My wife and I live in remote far north QLD and as a builder I was able to start our portfolio with a duplex development in our local town, completed in March 2014. This property is now strata titled and sits at around 10.3% net yield.
    We are now looking at using the equity in these properties to expand our portfolio in safer suburbs throughout Australia.
    We really want to have a good go at this and be living comfortably off passive income within 6 years or so.
    We have a reasonably good idea of what we need to do and how to invest to get to this point mostly through creating CF+ and equity through renovations and developments and then sit on these properties whilst they grow in capital and bring in an income. BUT I am sure through more education and mentoring we could reach our first goal alot faster and without as many mistakes.

    We are currently looking into Destiny Financial as they provide a 12 month course with endless advise including setting up our financial plan and recommending the appropriate structure to be buying each property through.They then have you bounce properties off them before you purchase and can help with negotiating etc.
    This course is alot of money though(not really in the big scheme of things if it helps), but alot up front. I have read alot of books on investing and follow all the property magazines and at the end of the day I feel a good education is priceless.

    What are everyones thoughts on having a mentor and has anyone used Destiny in the past?

    I really appreciate any feedback.


    Profile photo of Howard MoralesHoward Morales
    Join Date: 2015
    Post Count: 16

    I think you should hire a real estate agent who will you with guidance about investing in the property.

    Howard Morales | Selling investment property in brisbane

    Profile photo of Richard TaylorRichard Taylor
    Join Date: 2003
    Post Count: 12,024

    Hi Lickfold

    Firstly welcome to the forum and i hope your time with us. I must say North Qld is a beautiful part of the world although Brissie isnt bad either.

    Yes i agree with you the Destiny model is an expense especially when organisations like our own provide loan structuring advice etc for free.

    I have to say half the battle is getting the right loan in place to allow you to expand your portfolio at your pace and not when your Bank / lenders says so.

    Unlike Destiny we do not believe in cross collateralising your loans as this is one of the biggest deterrents to property investors wishing to go forward.

    It wont happen over night but with a structure and good discipline it will happen.

    Both my partner (JacM from the forum) and I have multi million dollar portfolios which took me 15 years to get where I am.

    Going forward there are so many opportunities for investors who structure correctly in the current climate and buy a combination of good yielding and growth properties.


    Yours in Finance

    Richard Taylor | Mortgage Broker helping investors build their wealth thru property
    Email Me

    100% Investment Finance now available on selected properties. Email us for further information.

    Profile photo of anthonyqanthonyq
    Join Date: 2011
    Post Count: 27

    Hi Nath,

    Have you considered Steve’s Property Investing Apprenticeship? Price isn’t too bad and there’s a lot of material plus ongoing mentoring etc.

    Profile photo of Tom@SadhanaConstructions[email protected]
    Join Date: 2015
    Post Count: 18

    I’ve no idea about the Destiny model. I’m not really a fan of paying for courses when as Richard said your professional advisers should be able to give you the same or similar advice. Any potential properties or ideas you have you can bounce around on forums such as this and to be honest, the guys on here such as Richard and Terry W probably have more experience and larger portfolios than many educators and they are more than happy to share their experience.

    Basically you need a good accountant, lawyer and banker (mortgage broker). These are the 3 pillars any successful investor should have within their circle of advisers. A good mentor will definitely help you along the way but do you need to pay for one? It depends on what they are offering I guess.

    Good luck and if you do go with Destiny let everyone know how it all works out.

    [email protected] | Sadhana Constructions
    Email Me | Phone Me

    Perth builders of developments and bespoke homes

    Profile photo of PowwowPowwow
    Join Date: 2014
    Post Count: 2

    Why not use a buyers agent? A good, independent buyers agent will set a strategy and provide you with advice and ongoing mentoring for free. Your only fee is commission based on the successful purchase of a property. I also recommend brokers, accountants, solicitors and other consultants with no extra fees attached.

    Profile photo of TerrywTerryw
    Join Date: 2001
    Post Count: 16,213

    What does Destiny charge for this service? You should ask whether they are licenced to give the appropriate advice. Generally no licence is needed for property advice as it is not a financial product but any advice will involve legal, taxation and credit matters.

    Terryw | Structuring Lawyers Pty Ltd / Loan Structuring Pty Ltd
    Email Me

    Lawyer, Mortgage Broker and Tax Advisor (Sydney based but advising Aust wide)

    Profile photo of superAndrewsuperAndrew
    Join Date: 2014
    Post Count: 188

    I think you should hire a real estate agent who will you with guidance about investing in the property.

    Yeah maybe this is not the best advice on here… why don’t you let a car sales man fix your car at the same time?

    The only person you can trust in any business transaction is yourself and someone who makes money if you make money (that is someone who gets a cut from your profit after you have been paid).

    You said that you are new to property investing. In that case I would spend at least 6 months educating myself using books, going to events, participating in forums like this one (Not just asking questions but also reading questions and answers from other forum members. There is a lot you can learn from that.). This will make you more comfortable and get you used to the terms used in property.

    I’m sure not many of the property experts on here got to where they are by paying 1000’s of dollars for these courses.


    superAndrew | Property Analyser and Finder Tool

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