Seven standout characteristics of a property mentor
Real property experts are few and far between. There are a lot of people who claim to be a property investment guru but aren’t. You’ll find them in newspaper columns, on television shows reading from a script, and in the pages of investment magazines. You’ll meet them in estate agent offices, and propping up the corner of a bar while holding court with tales of their latest all-conquering investment. Most so-called ‘property experts' make embarrassing predictions.
With so many fakes and phonies around, how do you know who the real property experts are? How can you become a go-to property investor yourself? In my experience, there are some traits that mark out the property experts from the imposters.
The indisputable characteristics of property experts
1. Property experts are nice people
Ok so not all of them are nice people but you know in my experience, I have never had a successful property expert who I ask for help that doesn't jump at the chance. Property experts don’t simply invest in property, they invest in other people, too. They care about other investors, share thoughts and ideas, and discuss experiences and mistakes they have made. They want others to learn, invest wisely and prosper.
Property investment opportunities are plentiful. Expert investors know this and so will be happy to discuss the best with you. They will be happy to invest their time in you as they impart their knowledge and experience. You won’t be given the brush-off, but instead, be listened to as you learn the rules of the game from the best. As your experience and investment education grows, so too will the level of conversations you have with others. You’ll get your chance to show that you, too, are a nice person.
NB. One thing that really gets on experts nerves is trying to tell them their business which you clearly don't know what you are talking about.
2. Property experts are niche players
It is impossible to be an expert in all facets of property investment. It’s too big game to be a master of all positions. So, you’ll find that real property experts are masters in a single or at most a few niches. They know these inside out.
A friend of mine was a trader in the financial markets for nearly a quarter of a century. He had immense knowledge about financial markets and investments. But whenever I asked him, he always refuted being an expert. “I’m a specialist,” he’d say. “Perhaps an expert in some areas. But it’s impossible to know everything about everything. But if there’s something I don’t know, I’ll know someone who does.”
When you are a master of something, your ability to make money in that something increases exponentially. Property experts pass on their knowledge, and, when they do, people listen.
3. Property experts don’t stop learning
A real property expert remains the guru to whom others listen because they never stop learning. They understand that the world is constantly changing, that markets are in a continual state of flux, and investment strategies evolve. It doesn’t matter how long you’ve been in property investment; there is always something new to learn. Property experts proactively seek new knowledge. Like a wise man once said, “Learn something new every day.”
NB I am actually astounded how many people ignore this point and think they know enough. I still go through periods where I read 50 books on a subject, I still down, shut up and listen to people who know something even though I may have an opinion.
4. Property experts are humble
Have you ever heard a politician in an interview, discussing all manner of topics and trying to make out they know what they are talking about? It’s painful, isn’t it?
Property experts are continual learners because they know there is always someone else with more knowledge. They aren’t afraid to admit what they don’t know, and by doing this, they avoid making stupid mistakes and so their expertise grows.
Ok so this is a generalised statements, but real property experts tend not to blow their trumpets, they just get on with the job. Sprukers and gurus they are a different beast. Sometimes you need to ask the question are they really making money from investing or making it from doing what they are talking about. Many times is the money they are making out of you not what they are talking about.
5. Property experts are connected people
Property experts know how to network, and understand the value of doing so. They’ll build up a network of professionals, from accountants to mortgage brokers, solicitors, and other property investors. It provides the support structure they need to conduct their property investment business. As their network grows, so too will their knowledge base and sphere of expertise.
6. Property experts admit to mistakes
Show me a property guru who has never made a bad investment, or made a mistake along the line somewhere, and you will be showing me a fake. They’ll pass the buck, play the blame game, and take no responsibility for poor decisions. One of the first lessons I learned from my property mentor was to own up to my mistakes. Only then could I learn from them.
It’s not making a mistake that defines your capability to build a profitable property portfolio; it’s how you deal with that mistake. Own it, learn from it, take the corrective action needed, and take one step further to becoming a property expert.
7. Property experts are detail oriented
Property experts are suckers for detail. They want to know the numbers behind each property investment, how it works, and why it works. They want the ‘i’s dotted and the t’s crossed. You’ll find they remember dates and names, and stick to their promises.
Don’t settle for second best as you become an expert in property
In your journey to becoming a property expert and building a profitable property portfolio, don’t settle for second best. Get the best investment education available, and find your property mentor.
You don’t have to spend thousands on property investment education. The Gladfish Investors’ Academy is probably the largest and most comprehensive property investment resource on the Internet. You can access articles, blogs, investment research, webinars, podcasts and more – all available free of charge.
Live with passion,