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How can you find a good property mentor who will help you achieve your financial goals?

The best golfers have coaches. And some of the best property investors also have mentors to help them along the way. I recently got an email from an On Property listener asking them about what's the best way to find a good mentor? And so, I thought I'd create this quick video to help you find a good mentor if that's something that you're interested in.

Hey, I'm Ryan from onproperty.com.au, helping you find positive cash flow property. Finding a good mentor out of all of the different candidates out there can be a really challenging task. First, you have to find someone actually willing to take the time out to give you advise.

Is it better to pay someone or is better to find someone for free? And also, you don't want to get caught by a property spruiker and you don't want to get a mentor who's actually going to leave you in the direction that they want their life to go, rather than maybe the direction you want your life to go.

First, we'll talk about some tips before you start searching for your mentor and then we'll talk specifically about how to find your mentor. First, let's talk about what can you do before actually going out to look for a mentor.

Let me tell you, there are so many different ways to make money in property. There's so many different strategies out there that different people will have achieved different things. And most of the time, when someone is a paid property educator or a property mentor or whatever it may be, even if they're just invested in property themselves and had some success, they're likely going to say or have the idea that, "This is the best way to invest in property." And that's not always the case.

Look, there's so many different ways to do it. And depending in your goals and who you are, one way may be better than another. So you really need to understand, before you start looking for a mentor; what is it exactly that you want to achieve through investing in property?

So, this takes 2 forms. First, it's those goals of financial freedom or whatever your financial goals are mixed with the lifestyle that comes with that. So that's one goal, that's kind of the end goal that you want to achieve. But the other facet of that, the aspect that people don't usually think about is how much work and how much sacrifice are you willing to do to get there?

One thing for me, in order to achieve my goals, I don't have huge goals of multi-billion dollars or anything like that. But, there's only certain sacrifices I'm willing to make. I'm not willing to work 20-hour days every single day and not spend time with my kids as they're growing up.

So, when I'm looking at investing in property or investing in businesses or whatever it is, I'm looking at, yes, I'll invest some time into it. But, I don't want to have 2 full-time jobs, do you know what I mean? So, think about, "What are my end goals?" and also, "How hard am I willing to work? What sacrifices am I willing to make to get there?"

For an example, let's say developing can be a great way to make money through property. But often, it takes a lot of work. Creating the plans, being onsite everyday, dealing with council issues, all of that sort of stuff. You're very active in the investment when you're developing something. Whereas, if you just buy and hold a property and rent it out, then you're not doing much for that property.

So it's very sort of passive investment. So, one investment might make you more money, but it also requires more time of you. And if you're someone who doesn't actually want to invest that time, even though development can be a great way to make money, it might not be suited to you because of the heavy time investment. So, it's just these things that you think about before you go out and search for a mentor.