How To Select the Best Property Mentor

April 15, 2013

Tips & Ideas

Finding a good property investing mentor may not be easy in New Zealand. The ability to communicate, develop a rapport, and being able to trust his or her advice makes the selection process difficult. Mentors and investors end up spending a lot of time together and therefore getting along well, becomes important. Hopefully you can attend the Masters event in Auckland and Wellington May 2013 to see in person some the industries best mentors and see if they have the qualities to look for in a mentor.

Here is a list of what to look for in a property investment mentor…..

  • A large clientele as proof of his success – A good property mentor will surely have a large clientele.  Having advised numerous people on making lucrative property investments on the years. This also is an indicator of his track record, success rate, ability to connect with people, and being good at his work.
  • Solid experience of a few years at least as a Property Investor – Experience is often, even more important than formal education in the property investment market.  Learning improves with active experience and ideally the same mistakes are not made again. It also helps to get a sense of what to expect, when to make an entry into the market, and when to withdraw. Successful mentors do make mistakes too, but their frequency is far lower, and success rate much higher.
  • Have the latest information about the property market- A good mentor is one who takes his job seriously, and invests time and effort into increasing his knowledge, gathering all the possible information and staying abreast of all the developments in the market. Knowledge is the key to good decision making and success.
  • Have the ability to research deeply, analyze trends and make predictions about future price movements- A mentor can give good advice only if he is able to do research and analyze price movements of property in his chosen area.
  • Possess a good network- Networking again, helps to get important news and latest developments related to property. Mentors establish contacts and broaden their networks all the time.
  • Available and receptive- Mentors need to be patient with clients, answer even their simplest questions, be receptive to their needs and be able to provide customized solutions. Additionally, being available at all times, makes the client more comfortable.

If most of these attributes can be found in a mentor, then he or she is the one to follow, to make the best property investment decisions.

 

 

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