Forums / Property Investing / Help Needed! / The Property Mentors Australia

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  • Profile photo of BjoernBjoern
    Participant
    @suoksa
    Join Date: 2015
    Post Count: 23

    Hi there,

    does anybody have any experience the The Property Mentors Australia (http://www.thepropertymentors.com.au/) and would you mind sharing your experience / opinions? I’m currently in touch with them and thinking about using them to get into property investment.

    Alternatively, does anybody know about good property investment mentorship programs?

    Thanks for your answers!

    Profile photo of BennyBenny
    Moderator
    @benny
    Join Date: 2002
    Post Count: 1,366

    Hi Bjoern,

    Alternatively, does anybody know about good property investment mentorship programs?

    Here’s one that I have heard people speak highly of :-
    https://www.propertyinvesting.com/store/property-apprentice/

    And recently, that 12-month course was condensed into a Bootcamp on Steroids !! Here’s what attendees thought….
    https://www.propertyinvesting.com/topic/5016755-the-verdict-on-steve-mcknights-5-day-bootcamp/

    Sorry, I can’t comment on the first group you were asking about – I have no knowledge of them at all.
    Benny

    Profile photo of BjoernBjoern
    Participant
    @suoksa
    Join Date: 2015
    Post Count: 23
    Profile photo of PropertyGutsPropertyGuts
    Participant
    @propertyguts
    Join Date: 2010
    Post Count: 57

    Hey Bjoern – was there an update on the mentors?

    Profile photo of BjoernBjoern
    Participant
    @suoksa
    Join Date: 2015
    Post Count: 23

    Haven’t heard from anybody else, but I decided not to go ahead with them. First, I heard from so many sides that you shouldn’t invest in new developments and they solely propose new developments. Second, I asked them if, on top of the fee that I would pay them, they get commission from the developers and they do, so I didn’t like that they are not entirely working in my interest. And lastly, my last experience when I was in touch with them ultimately convinced me not to go ahead with them. When I questioned the above, they got rather aggressive saying things like “I am trying to be patient but you don’t seem to be getting who we are and what we do” and “I can’t work with people that are not motivated”. Not the way you would expect, I think.
    But that’s only my opinion, might be wrong in the end, but I feel more comfortable going other, more conventional ways.

    Profile photo of Corey BattCorey Batt
    Participant
    @cjaysa
    Join Date: 2012
    Post Count: 1,010

    Smart move Bjoern from the sounds of it. Never work with pushy people who are effectively trying to put on high pressure sales. As you’ve noted, investment companies which solely focus on new developments are working for the interests of selling their stock for developer commissions – which fundamentally puts their bias on pushing stock, not you pushing quality properties which help you reach your long term investment goals.

    Corey Batt | Precision Funding
    http://www.precisionfunding.com.au
    Email Me | Phone Me

    Investment Focused Finance Strategist - servicing Australia-wide

    Profile photo of TerrywTerryw
    Participant
    @terryw
    Join Date: 2001
    Post Count: 16,173

    Good work Bjoern. beware of sales people using the word ‘mentor’

    Terryw | Structuring Lawyers / Loan Structuring Pty Ltd
    http://propertytaxbook.com.au/
    Email Me

    Lawyer, Mortgage Broker and Tax Advisor (Aust wide) http://propertytaxbook.com.au/

    Profile photo of TerrywTerryw
    Participant
    @terryw
    Join Date: 2001
    Post Count: 16,173

    Bjoern, what is the fee that this mob charge to sell you a property? Did you ask them how much the commission they also receive on the sale from the developer?

    Terryw | Structuring Lawyers / Loan Structuring Pty Ltd
    http://propertytaxbook.com.au/
    Email Me

    Lawyer, Mortgage Broker and Tax Advisor (Aust wide) http://propertytaxbook.com.au/

    Profile photo of BjoernBjoern
    Participant
    @suoksa
    Join Date: 2015
    Post Count: 23

    Thanks guys!

    Terry, their fee structure is a bit “different”. They ask you to become a member and if you are you have access to their deals and you can do as many as you want. Not sure exactly about the fees anymore, but I think it was 3k for one year, 5k for 3 years or 7k for 5 years. I didn’t ask for the exact commission they get, was enough for me to know that they get a commission ;)

    Profile photo of TerrywTerryw
    Participant
    @terryw
    Join Date: 2001
    Post Count: 16,173

    Thanks Bjoern.

    Terryw | Structuring Lawyers / Loan Structuring Pty Ltd
    http://propertytaxbook.com.au/
    Email Me

    Lawyer, Mortgage Broker and Tax Advisor (Aust wide) http://propertytaxbook.com.au/

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