Education/Mentorship Programs

[Peter Parker]

This reminds me of the old saying:

When a person with money meets a person with experience, the person with experience gets the money and the person with money gets the experience...

 

[INVSTOR]

Just thinking how the list of mentoring groups has expanded over the years since the initial post as well as our awareness of many groups... it would be interesting to tabulate them all.

The Perth meetings I previously referred to are now called Active Property Network (Perth). Chris is now organising the meetings as far as I know so please contact him if you have any interest in attending future meetings. They are changing venues so future meetings may be on hold until sorted. I haven't attended for a while as it's too far to travel.

 

[h@pbp]

silly question, how do I find out about meet-ups for somersoft goers in Sydney?

Would love to catch up regularly with like minded people, happy to travel into the city or wherever!

 

[vaughan]

My husband and I are only weeks from purchasing an IP and really kickstarting our investing journey... we would like to undertake an education or mentorship program.

If you're looking at getting an education or mentorship program then you are NOT "only weeks away" from a purchase. You should be thinking a couple of months.

We expect initially to have a negatively geared IP that will transform over coming times to CF+. As we acquire more properties we expect that at any given time we will have a balanced portfolio (both CF+ and CF-).

I'd consider the market conditions at the moment and the likelihood of capital growth in the near future.Many markets are at worst in decline and at best flat, so a strategy that relies on CG will require a significant amount of time.

Also, if you buy CF- properties how do they suddenly turn into a CF+ portfolio? Why not start with a CF+ property?

 

[sjfou]

I'm all for reputable mentorships regardless of the industry. I run a personal training company, one of my main rules of business is dont reinvent the wheel. I wouldnt have time to anyway.... BUT I wanted to expand my business, so I got a business coach on board (whom has fitness industry experience). A 12 month contract cost me $10k, made me $25k income in that time period, so $15k profit in the first year BUT he also saved probably 10 years of errors, finetuning, systems & document generation plus many of principles & documents could carry over to any business i choose to develop in the future.

When it comes times for me to buy my first IP, theres a 99% chance I will get on board a mentorship program. For numbers sake, say my outlay is $10k, if I think it save me $10k of money, make me $10k of profit and/or save me a lot time (or a combo of the previous) then i'm all for it. Again, the principles I learn should last longer than the length of the mentorship.

My 2 cents...

 

[Rolf Latham]

I'm all for reputable mentorships regardless of the industry. I run a personal training company, one of my main rules of business is dont reinvent the wheel. I wouldnt have time to anyway.... BUT I wanted to expand my business, so I got a business coach on board (whom has fitness industry experience). A 12 month contract cost me $10k, made me $25k income in that time period, so $15k profit in the first year BUT he also saved probably 10 years of errors, finetuning, systems & document generation plus many of principles & documents could carry over to any business i choose to develop in the future.

When it comes times for me to buy my first IP, theres a 99% chance I will get on board a mentorship program. For numbers sake, say my outlay is $10k, if I think it save me $10k of money, make me $10k of profit and/or save me a lot time (or a combo of the previous) then i'm all for it. Again, the principles I learn should last longer than the length of the mentorship.

My 2 cents...

Great example !

ta
rolf