21 Jun The benefits of mentoring for property investors
If you’re just starting out in property investment or perhaps looking to diversify, a property investment mentor can help guide you in the right direction.
How does property investment mentoring work?
A property investment mentor is someone with experience of the numerous types of property investment strategies. They have the knowledge to help you achieve your personal and business goals.
If you’re new to property investment and want to avoid costly mistakes, a mentor is an invaluable asset. They can advise you on the right strategy and steps to take to achieve your ambitions.
Finding the right strategy for you
A significant aspect of the role of mentor is to help you find a style that’s right for you. In property investment, there are a number of different strategies you can take in your investments.
However, the successful property investor is looking for deals that suit their purpose and lifestyle. It’s not a ‘one size fits all’ scenario.
A property mentor will get to know your personality, circumstances and attitude towards risk. Armed with this information, they’ll be able to help you make investments that you feel comfortable with and confident in.
What strategy you should adopt may not be immediately apparent to you. By seeking the advice of an experienced investor, you can assess the advantages and disadvantages of each until you whittle down your options to the ones that suit you best.
Types of advice a mentor can provide
Some investors stick close to home while others are happier to invest further afield. Whichever is your preference, your mentor will be able to advise what you should look for in a location.
As well as location, you also need to choose a property of the right type and size for the purpose of your investment. For example, for a buy-to-let, you’ll need a property type that will match the needs of a particular profile of tenant – specifically the sort of tenant who is likely to want to rent in that area.
On top of this, you may want to know more about costs such as mortgages, management and maintenance, plus tax implications. And how any income you earn from a property will affect your tax status.
Give yourself the best chance of success
In life, we learn from our mistakes. And going it alone isn’t such a bad thing – if you can afford it. If you’ve got the money and time, you can experiment with property deals to find out what works and what doesn’t.
But most of us don’t have unlimited time or money. Therefore, we rely on research to make sure we make an informed decision. Property investment mentorship takes this one step further.
By all means do your research. It’s an essential element of property investment. But you also need to learn from other people’s mistakes and draw on their experiences.
As a result, you give yourself a better chance of succeeding.
Would you like to learn more about property investment mentorship?
Our PMA Property Mentor Elite Online & Personal will motivate, inspire and challenge you to achieve your personal and business goals.
All of our mentors are experienced industry professionals with years of experience AND are all active investors.
Email firstname.lastname@example.org or phone 01252 730040 to be the first to take advantage of this brand new online mentoring service.
We’ve also recently launched two brand new online property investment courses:
This course will provide you with an introduction to property investment, whether you’re new, intermediate or experienced.
This will give you a better understanding of one of the most popular and financially rewarding property strategies in the UK.