Guidelines For Choosing A Property Mentor

Choosing a property mentor is not easy since there may be tens available and with few overtly visible differences, the task is confusing unless some guidelines are followed.

The crucial thing is to find the best property mentor available who can train and educate, advise and counsel so that the best results are achieved through property investment and other property related activities.

Hundreds of successful property investors attribute their success to a good mentor in the early stages of investment.
Some guidelines for selecting a mentor

  • The qualifications and credentials of the mentor- A mentor selected must have the requisite expertise and be qualified to assist in real estate transactions, with knowledge of the market and the legal processes involved.
  • Past track record and experience – A mentor must have prior experience in sufficient measure to be able to give good advice. Some believe that a mentor must have at least 35-40 successful transactions to his credit, and only then be considered eligible as a mentor.
  • Reviews or inputs from previous accounts handled- Previous clients must have had a happy experience with the mentor and found him to be easy to follow.
  • Time available with the mentor for you- there is no point in selecting e mentor who already has his hands full since he will then not be able to devote the time you need.
  • • Empathy and patience for customized assistance and advice- A good mentor is one who can feel for others and be patient despite their repeated questions and ignorance. He should be able to gauge your needs and customize his solutions for you.
  • Honesty and desire to help- A mentor should be honest and have a genuine desire to help those he takes under his wing, and help them make the maximum amount of money from the investments he recommends.
  • Specialist in the area that interests you- A mentor you choose must be a specialist in the area of your choice, knowing all the details about property in that area, the loopholes, drawbacks and benefits of each option. Only then will he be able to help.
  • Agent, investor and mentor, all in one- the best mentor would be one who is also an agent and investor. As an agent he would be able to iron out the details of investments and find you more suitable properties, and as an investor himself he would be able to assist you with their own investing secrets that led to their success.
  • Knowledge about the best strategies for property investing- Instead of taking a cue from you about the investment strategy, the mentor must be able to convince you about the most effective strategy which has the highest probability of yielding handsome returns in your area.

A good mentor is sure to have been a mentee once while he learnt the ropes and picked up the nuances of property investing. It takes a long period of learning to understand the intricacies of real estate investing, and experience in the real world teaches much more than professional degree.

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