How to Choose a Property Investment Mentor

All successful property investors, in fact, high achievers in all fields, have one thing in common...they have a mentor.

This has been one of the secrets to their success.

All the successful property investors I have dealt with over the years have hung out with like-minded investors and followed in the footsteps of others who have already done what they wanted to achieve.

This helps them see the land mines before stepping on them and helps them achieve success more quickly.

What should you look for when choosing a mentor?

And what should you watch out for?

The problem is there are lots of people out there calling themselves real estate experts and many do a great job.

However, the recent property boom even made some below-average investors look like genius.

When looking for a mentor, my suggestion is to go back to the fundamentals when you choose whose ideas you will listen to.

6 characteristics of a Successful Real Estate Mentor

Look for people who have at least the following credentials:

1. Real estate investment activity

They must be currently actively investing in real estate using the strategies they are teaching.

There is no room for theorists here.

2. Good property portfolio

An absolute bare minimum of 40 property transactions to their name so they have experience dealing with different buying and selling situations.

Currently, there are books and educational courses written by people who have bought 5 or 6 properties.

I would be wary of these.

3. Broad investment experiences

Somebody who has been hands-on investing for no less than 15 years, so they have had experience in different market conditions.

They must have successfully used their strategies through a full property cycle.

If somebody has managed to survive through the early 90s (the depression we had to have), the middle 90s (during low inflation), the late 90s when we had a real estate boom and the early 2000s when we had a real estate bust and are still able to prove that their system works...then I want you to listen to these people.

4. Interested in mutually beneficial relationships

Somebody who doesn't have a property to sell you.

Now this isn't necessary in all cases, but just something to be aware of.

Ensure there isn't a potential conflict of interest.

5. Ethical standards

Somebody who is not selling to your emotions, such as act now or you will miss out and somebody who doesn't put others down to make them look good.

Look for somebody with integrity and a commitment to disclosure.

6. Honesty

Avoid somebody who is offering you something exciting, speculative, new or the latest thing.

Don't look for excitement in your investments.

Your property investments are your way of securing your financial future.

Don't be distracted from your long-term plans or strategies by promises of quick riches.

Find the system that focuses on long-term wealth creation.

Tips: Don't be scared to pay the right people to mentor you.

Of course, our mentor is going to make money, if they are good they deserve to.

If everything is disclosed up front there should be no conflict of interest.

By the way... I've been running my Mentorship Program since 2006.

I teach people the science of becoming wealthy.

In fact, I've mentored over 2,000 successful property investors, business people and entrepreneurs.

Why not find out more about it by clicking here?

About Michael Yardney Michael is a director of Metropole Property Strategists who help their clients grow, protect and pass on their wealth through independent, unbiased property advice and advocacy. He's once again been voted Australia's leading property investment adviser and one of Australia's 50 most influential Thought Leaders. His opinions are regularly featured in the media.