No problem, good to see you have progressed and flying along nicely!
Go Dreamgirl!
Thank you!
Thank you very much for your update dreamgirl as your update carries some useful info! And you have done well in the last few years. Congrats!
My experience with Mentoring Programs
Hi!
I'm a huge believer in seeking out a mentor - why wouldn't you want to gain from someone more experienced?
My husband and I are having one-on-one mentoring with Harry Charalambous (Well known Sydney investor) and he is fabulous. We're onto our second transaction in 6 months and will have 4 rental incomes we didn't have before we started using the granny flat strategy!! Harry has done something like 60 property transactions and his company is built for investors like us... so through our mentoring program we have access to the in-house mortgage broker, buyer's agents, project managers and builders. I can't recommend him highly enough!
Sounds like you could definitely use with a specialist property investor broker.
Their website is http://planassist.com.au/
Hope this helps
Hi!
I'm a huge believer in seeking out a mentor - why wouldn't you want to gain from someone more experienced?
My husband and I are having one-on-one mentoring with Harry Charalambous (Well known Sydney investor) and he is fabulous. We're onto our second transaction in 6 months and will have 4 rental incomes we didn't have before we started using the granny flat strategy!! Harry has done something like 60 property transactions and his company is built for investors like us... so through our mentoring program we have access to the in-house mortgage broker, buyer's agents, project managers and builders. I can't recommend him highly enough!
Sounds like you could definitely use with a specialist property investor broker.
Their website is http://planassist.com.au/
Hope this helps
Hi!
I'm a huge believer in seeking out a mentor - why wouldn't you want to gain from someone more experienced?
My husband and I are having one-on-one mentoring with Harry Charalambous (Well known Sydney investor) and he is fabulous. We're onto our second transaction in 6 months and will have 4 rental incomes we didn't have before we started using the granny flat strategy!! Harry has done something like 60 property transactions and his company is built for investors like us... so through our mentoring program we have access to the in-house mortgage broker, buyer's agents, project managers and builders. I can't recommend him highly enough!
Sounds like you could definitely use with a specialist property investor broker.
Their website is http://planassist.com.au/
Hope this helps
Would you mind telling how much you pay for this service?
Ha travelbug. I joined to find a Sydney networking group. Seeing as you're 'Mr 2450 posts', would you recommend any on here?
Cairns, Beenleigh, Richmond, Merrylands, Granville, Lethbridge Park, and the recent 2 purchase in Central Coast.
Thanks, Chris! I'm still evolving. The next phase in the short term is to add granny flats on the 2 recent purchase in Central Coast. Also add a granny flat in Beenleigh, which is rather doubtful at this stage as Qld is not as GF-friendly as NSW. However, it is in Logan Council which I believe has different GF rules as the rest of Qld.
Logan Council
Hi Dreamgirl,
Thanks very much for coming back and updating this thread!
I am extremely new to property investing and am currently looking to buy my first property. This will happen as soon as I can find a suitable one. I am currently interested in the Logan area because of its affordability and and the predictions/potential of it starting to see some reasonable gains soon.
In light of this, I would love to know how you go with the GF app-lication for your Beenleigh IP.
Thanks again for sharing your experience!
Hi Dreamgirl,
Thanks very much for coming back and updating this thread!
I am extremely new to property investing and am currently looking to buy my first property. This will happen as soon as I can find a suitable one. I am currently interested in the Logan area because of its affordability and and the predictions/potential of it starting to see some reasonable gains soon.
In light of this, I would love to know how you go with the GF app-lication for your Beenleigh IP.
Thanks again for sharing your experience!
Hi Dreamgirl,
I know Positive Real Estate offers mentoring as well as properties. Our company works with them very closely and I have seen some impressive results so far.
In terms of your financial situation,it sounds like you have most of your debt with CBA, which can be the reason you are short of borrowing capacity. This is not unusual for investors to hit their borrowing ceiling after 5-6 properties and the easiest fix would be to spread your loans across various lenders.
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Development mentoring
I have been contacted a lot lately regarding mentoring. So thought i'd post recent response. Have not posted for some time as have also been extremely busy.....
In my opinion, there is a significant disconnect between the development capability claims, experience & knowledge of many of these people (offering Development Mentoring).
Suspect their business is ?mentoring for profit?& ?seminars for Profit? & not ?development for profit?. Many are small time players with a website & some fancy copy.
Perhaps they use the cashflow from mentoring & seminars to invest in property.
That?s not to say that these people don?t provide a services. It?s just that I?d be very surprised if you were getting a development guru as pert of that services.
As mentioned before the gurus in the industry are certainly not selling their services to do mentoring. They highly value the limited time they have.
This morning I bumped into someone that has done a heap of syndicated commercial development & is now retired. I also bumped into a residential development titan.
While these guys would help family, there is no way they would sell their time (which is limited) to provide services for mentoring.
What would you do if you were very financially successful, in their position, with limited time???
Do you see John Mulcahy, Harry Triguboff, Donald Trump or Frank Lowy offering public development mentoring. How about business titans like James Packer, Andrew Forrest & Gina Rinehart; do you see them selling mentoring services???
Beware, there are lots of property spruikers out there. Do your research, ask people, check out their qualifications in detail.
I don?t know anyone with credibility that does development mentoring; everyone I know is too busy (working or living).
Recommend that you begin to surround yourself with the best professional people you can afford. Be very precious of their time.
Look at joining a development interest group. Spend time with likeminded people that have done a house build, unit build etc & share ideas.
Read as much as you can including books, property magazines & online research from established respected providers.
If others can do it so can you.
Best to start small; like a simple renovation for profit or to increased rent return. Then move into a something that requires a DA. See what works & what doesn?t. From there you can build your skills.
Hope this helps. Best wishes with your search & development.
I have been contacted a lot lately regarding mentoring. So thought i'd post recent response. Have not posted for some time as have also been extremely busy.....
In my opinion, there is a significant disconnect between the development capability claims, experience & knowledge of many of these people (offering Development Mentoring).
Suspect their business is ?mentoring for profit?& ?seminars for Profit? & not ?development for profit?. Many are small time players with a website & some fancy copy.
Perhaps they use the cashflow from mentoring & seminars to invest in property.
That?s not to say that these people don?t provide a services. It?s just that I?d be very surprised if you were getting a development guru as pert of that services.
As mentioned before the gurus in the industry are certainly not selling their services to do mentoring. They highly value the limited time they have.
This morning I bumped into someone that has done a heap of syndicated commercial development & is now retired. I also bumped into a residential development titan.
While these guys would help family, there is no way they would sell their time (which is limited) to provide services for mentoring.
What would you do if you were very financially successful, in their position, with limited time???
Do you see John Mulcahy, Harry Triguboff, Donald Trump or Frank Lowy offering public development mentoring. How about business titans like James Packer, Andrew Forrest & Gina Rinehart; do you see them selling mentoring services???
Beware, there are lots of property spruikers out there. Do your research, ask people, check out their qualifications in detail.
I don?t know anyone with credibility that does development mentoring; everyone I know is too busy (working or living).
Recommend that you begin to surround yourself with the best professional people you can afford. Be very precious of their time.
Look at joining a development interest group. Spend time with likeminded people that have done a house build, unit build etc & share ideas.
Read as much as you can including books, property magazines & online research from established respected providers.
If others can do it so can you.
Best to start small; like a simple renovation for profit or to increased rent return. Then move into a something that requires a DA. See what works & what doesn?t. From there you can build your skills.
Hope this helps. Best wishes with your search & development.
