Mentoring programs/Bootcamps etc ...

[MSK]

Ok, so I am just thinking out aloud here.... If I have decided that property investment is definitely my chosen vehicle to financial independence and I am ready to purchase 1-2 IPs this year, but I have a sinking feeling that I may do nothing will all this new knowledge, and before I know it 2013 will be over and I will have achieved nothing ... Would you agree that it would be a good idea to join a mentoring/coaching program to help me "get out there", make a start and get some hand holding along the way. I dont intend to do this to be a lazy investor, I dont want to give my money to someone to do all the work for me. In fact, I am raring and ready to go and absolutely willing to do all the hard work to make this happen. The program I am looking to join costs around $10k , and they offer a full money back guarantee if I totally commit myself to the program and have not achieved at least 10 times this initial investment in the first 12 months.

So my thinking is this:
1. If I make nothing within 12 months (depsite fully immersing myself into this, which I am willingly and excitedly prepared to do), then I will ask for my money back, i will be back at square one, but more than likley have gained invaluable experience, I can then rethink my path and carry on.
2. If I do make money, I dare say it will likely be more than $10k (in the long term), making the initial investment more than worthwhile.

This program only educates and coaches, and does not market specific properties as far as I am aware.

Am I wasting my money ?? Hoping to hear some of you tell me that I am not.
I am a level headed, intelligent person, and I do not buy into marketed hype at all. But for some reason, I see opportunity and value in this program

 

[The Y-man]

... and they offer a full money back guarantee if I totally commit myself to the program and have not achieved at least 10 times this initial investment in the first 12 months.

How is this defined (legally for their contract)?

The Y-man

 

[MSK]

How is this defined (legally for their contract)?

The Y-man

Their definition is that I attend at least 2 of their bootcamps (included in price) and to provide documented evidence of my property investment activities.

Its a bit vague isnt it ?

 

[Jen_PFR]

I tell you what; you pay me $5K, and I'll call you once a fortnight and expect answers to the following questions:-

1. Have you sourced any suitable properties?
2. Have you done the maths on them? (ie. are they viable investments?)
3. Have you put in a written offer?
4. Have you commenced your finance application? (pending signed O&A as at item 3).

If you don't have 'yes' answers to at least the first two questions, you'll be sorry. (Don't ask me - ask my husband.)

You'll buy properties faster then you ever have before and save $5K as well. Easy!!

Two camps a year is no guarantee of anything. It sounds like you need someone to nag you over your initial reluctance to commit. I am very qualified to nag

 

[MSK]

I tell you what; you pay me $5K, and I'll call you once a fortnight and expect answers to the following questions:-

1. Have you sourced any suitable properties?
2. Have you done the maths on them? (ie. are they viable investments?)
3. Have you put in a written offer?
4. Have you commenced your finance application? (pending signed O&A as at item 3).

If you don't have 'yes' answers to at least the first two questions, you'll be sorry. (Don't ask me - ask my husband.)

You'll buy properties faster then you ever have before and save $5K as well. Easy!!

Two camps a year is no guarantee of anything. It sounds like you need someone to nag you over your initial reluctance to commit. I am very qualified to nag

yes you are probably right. I dont know if it is that I need someone to nag me, I think I just need company of people who are like minded. Which this forum does. But I need more direct and personal interaction, and that may be a reason I was so inclined to the offer of the mentoring program. None of our close friends or family are into PI at all.

 

[mumbai]

yes you are probably right. I dont know if it is that I need someone to nag me, I think I just need company of people who are like minded. Which this forum does. But I need more direct and personal interaction, and that may be a reason I was so inclined to the offer of the mentoring program. None of our close friends or family are into PI at all.

I guess meeting everyone this Friday will help you a bit?

 

[MSK]

I guess meeting everyone this Friday will help you a bit?

That is the plan. See you there Raj !

 

[Propertunity]

.... The program I am looking to join costs around $10k ,

Seriously consider paying a BA (buyers agent) this money as a fee to find your first property. Go with them, ask them Q's, listen in on the negotiations, treat it as a live mentoring exercise, and buy IP#1.

The go do it for yourself

 

[mumbai]

Seriously consider paying a BA (buyers agent) this money as a fee to find your first property. Go with them, ask them Q's, listen in on the negotiations, treat it as a live mentoring exercise, and buy IP#1.

The go do it for yourself

You beat me to it. I was just typing this

 

[Propertunity]

You beat me to it. I was just typing this

Better it coming from you than me......I could be considered biassed.

 

[Noodle]

May I ask who the company offering the mentoring programme is?

Some are great, some are terrible, most are not worth the exorbitant fees regardless of guarantees, especially when so much information and help is available for free.

 

[joanmc]

Jeez, I will ring and nag for $4000! save you even more

This might sound a bit harsh but if you don't have the kahunas to go out and have a go maybe you're not ready yet? Have you set goals? What do you need to do to achieve them? What is stopping you from taking the first step?

We knew no one who was investing to talk to when we started and I think we had about 6 houses before we really started to find others who were doing the same thing. Once you get the first one under your belt the rest will get easier and easier.

 

[EN710]

..., I think I just need company of people who are like minded. Which this forum does. But I need more direct and personal interaction, and that may be a reason I was so inclined to the offer of the mentoring program. None of our close friends or family are into PI at all.

This is one of the reason why I go for a buyer's agent for first IP (settling in 2 weeks, finally ) - to kick me off from "looking to buy" for months to actually buying. Was looking at mentoring program but figured that what I need is reassurance that I'm not buying duds as this will likely discourage me for the 2nd, and actual progress (as in getting a property, not dreaming of having one). BA provide these. Learning will come along though might or might not be slower than doing the trial and error myself.

 

[The Y-man]

yes you are probably right. I dont know if it is that I need someone to nag me, I think I just need company of people who are like minded. Which this forum does. But I need more direct and personal interaction, and that may be a reason I was so inclined to the offer of the mentoring program. None of our close friends or family are into PI at all.

You could fly in for our monthly Melbourne get togethers, stay a night in a decent hotel with brekky included, fly back - do that for a year and you'd still probably spend less than the boot camp(s)

The Y-man

 

[MsAli]

I think you should catch up with Nathan instead of spending the $5000

 

[Ideo]

Jeez, I will ring and nag for $4000! save you even more

This might sound a bit harsh but if you don't have the kahunas to go out and have a go maybe you're not ready yet? Have you set goals? What do you need to do to achieve them? What is stopping you from taking the first step?

We knew no one who was investing to talk to when we started and I think we had about 6 houses before we really started to find others who were doing the same thing. Once you get the first one under your belt the rest will get easier and easier.

I'll do it for $3,500 plus through in some planning advice as a value add

Seriously though, ask questions on here. You will learn much more and have it come from a variety of generally unbiased opinions. This is a great free resource and will provide you with far more to think about, and things to achieve, than a blatant money grab.

 

[M1zz]

yes you are probably right. I dont know if it is that I need someone to nag me, I think I just need company of people who are like minded. Which this forum does. But I need more direct and personal interaction, and that may be a reason I was so inclined to the offer of the mentoring program. None of our close friends or family are into PI at all.

Hi MSK,

I recommend you going to the meeting points (see the correct forum section). That is my plan and I am essentially going through the same scenario myself, on the lookout for like-minded people.