“An investment in knowledge always pays the best interest.”
― Benjamin Franklin, The Way to WealthThat’s why we recommend that first-time investors commit more time to their education before jumping head first into what can be a very costly investment if you get it wrong. And you know, education comes in many forms. There’s the theory of investing and then of course there’s the real-world, practical application of investing. We believe that education is not something you do once — rather, it’s an ongoing and constantly evolving experience. That’s why we decided, when establishing The Property Mentors, to include a true mentoring service. That is, our Senior Mentors are all experienced property investors with real world results, each assigned to work one-on-one with our members to provide them with the guidance, support and accountability most investors need to get amazing results. Imagine having someone in your corner who you can ask all those questions you wanted answered — as well as answers to the questions you don’t even know to ask yet! Imagine having an accountability partner on your side whose job it is to help you achieve the types of results you really want safer, faster, and more predictably. Now that is an education worth having! 2. Develop Your Property Plan When asked, most people agree that it is common sense to have a clear, written plan to create the investment results you want. However, common sense is not commonly practiced. In fact, overwhelmingly far more people will fail to create a plan than actually create a clear vision for their investment journey. Why is that? Well, goal setting, wealth planning, life designing or whatever you want to call it is not commonly taught. We certainly never learned this invaluable skill at home, at school or in the workforce. No, we had to go out and make a lot of mistakes, spend a lot of money and invest decades learning how to effectively plan out a highly performing property portfolio from scratch. We don’t have the time or space in this blog to detail exactly how to create a bullet-proof investment plan; however, we will cover this in great detail in our upcoming online workshop, The Ultimate Beginner’s Guide: Property Investing for Maximum Profits on Wednesday, 11 October at 7pm. If you want to know how to create a solid property investment plan from scratch, then click here to register now! 3. Build Your Own A-Team Property is a team sport. What do we mean by that? Well, it would be virtually impossible for one individual to acquire all of the skills required to do every aspect involved in property investing. Think about it: do you have the time or desire to learn how to become an expert in property research, negotiation, finance, accounting, legal, design, construction, property management, etc. And even if you did somehow manage to acquire all of those skills, how do you know if you would be any good at them? It is your choice, of course. In our opinion, it’s always better to work with experts — your own A-Team! — in all the areas of property. Imagine working with top-level mortgage brokers, property-savvy accountants, leading architects, and master builders. Now in making this decision, the challenge for most novice investors is: how do you know how to find, engage and manage a highly professional team? What questions do you even ask them? How do you know if they’re any good? How do you ensure that you are utilising their services effectively? Ultimately, the investment results you’ll be able to achieve will be a direct reflection of the skill and experience that you and your professional team possess.
Other News and Videos
Mark Talks About Having Goals and a Clear Plan
Monday, 3rd Aug
Further Changes are Underway Outside of the Royal Commission Findings
Wednesday, 27th Feb
Performing a ‘Credit Check’ can make some of us nervous. Particularly, if financial skeletons exist in your closet!
The Value of Getting Good Financial Advice
Tuesday, 6th Nov
Recent surveys suggest that about 80% of the Australian adult population does not seek financial advice.
Using Property to Retire Well
Wednesday, 10th Oct
Some retirees rely solely on their rental incomes from their investment properties to fund their retirement. Others use it simply to enhance their lifestyle, regarding it as nice-to-have additional income — and of course many retirees don’t own rental property at all.
Wealth Strategies For Every Stage of Life
Tuesday, 11th Sep
A basic principle of wealth accumulation is that at least some of the income you generate throughout your working years should be utilised towards growing your wealth.
What You Need to Know About Your Credit Score
Tuesday, 5th Jun
Remember back at school when you got a report card that told you, or perhaps more importantly your parents, how well you were performing in each of your subjects? Well, your credit score and credit report are used by lenders to see how well you are doing managing your finances.
Join the Property Mentors
The Property Mentors assist with strategic property sourcing, fixed interest investments and planning. Whether you are just starting out or already on your property journey The Property Mentors can provide the guidance you need.