Many education companies claim to offer mentoring to their students. But the truth is that these companies see mentoring as a one off call and then you never hear from them again.
At Real Wealth Australia, mentoring is so much more. It is the backbone of our Property Mentoring Program.
The whole Mentoring Team is at your side throughout your entire program with Real Wealth Australia and are always just a call, skype or email away. It does not matter how big or small your question may be, your mentoring team is always there to answer.
Our property mentors add so much value to our Property Mentoring Program, that it is difficult for me to put it all in one email. So keep an eye on your inbox as I will be sending you two more emails specifically highlighting the key areas where our mentors have proven to be of immense value to our members.
Although there is much to discuss, this email will focus on how our mentors help you with the financial side of investing. We will look at how they help with the mindset of investing and how much time they save you in subsequent emails!
Once you enrol into the Property Mentoring Program you will, almost immediately, receive a call from one of our expert property mentors.
The very first thing that you will work on is to understand your finances using a process we call a ‘financial health check’. The financial health check is such an important part of investing, after all – if you don’t have money available, you can’t buy any properties!
The mentoring team will ask you to fill in an in-depth budget that analyses all of your income and outgoings so we fully understand your financial position. The mentors then go into great depth to analyse your data and your situation to provide you with feedback on how you can get the most out of your money. This data is just one piece of the puzzle discussed during a 45-minute strategy review call.
Everyone is different, so every call is tailored to your specific situation. The mentors will offer advice on how to effectively budget or give specific advice on the best course of action for you to follow in order to unlock your money’s full potential.
For example “for a family of 4, $600 a week on food is a high food budget. For a family of 4, you should be looking at $200-300 a week”. Whether the savings are big or seemingly small weekly amounts, by advising you on how to improve your position before you get started, you are minimising the risk from your investments.
“Understanding a budget is one of the first things that we teach our students.
We give our students a reality check, so they can see what their monthly cashflow is or what their monthly negative is. If people are in a poor financial situation, it is about reviewing everything that they’ve got and recommending changes. It could be that some people need to take a step backwards to allow themselves to take two steps forward. So, if they have a property that is holding them back, it may be best not to keep that in their portfolio. For some, re-financing the property could alleviate the issues.” – Karen Van Maanen, Property Mentor
Your Mentor will help you develop a personal investing strategy.
Everyone’s strategy is different and it acts as a blueprint to follow when investing. You know how much you can borrow, you know how much you can spend on each property, and with the help of the mentoring team – you will know where to buy and what property is best for your strategy.
Your strategy may be investing in cashflow properties or it could be focused on negatively geared properties – your strategy and how you balance your property portfolio is completely specific to you.
“If it doesn’t fit your budget, don’t even bother looking at it.
Anyone can buy one property, but a savvy investor knows how to best position themselves financially, so they can keep investing and not get stuck.
If you buy something that doesn’t suit your strategy it will only stop you. It’s like saying ‘I’m going shopping for a $30k car’ and then coming back with a $100k Mercedes. It’s going to kill your financial future moving forward.” – Marjo Young. Property Mentor/Client Services Manager
Your mentoring team is available throughout your property research and purchasing process as well. They assist you with reviewing suburbs, properties and once you find the right deal, they offer great support throughout your negotiations.
In the past, clients have made the cost of the course back by negotiating smartly in their first deal.
These guys are seriously experienced negotiators and with their help, you can save thousands on your property deals.
“Once they find the right property, we help them negotiate the best deal possible. We find them the best inclusions, the best finances and the best clauses.”
Until Next Time,
Helen.
