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Property coaching (or property mentoring as it is sometimes known) is a relatively new concept in New Zealand, although it is well established in other countries. The key benefits of using a property coach are to gain years of personal experience in a relatively short period and have a confidential and experienced sounding board to help you with your investment decision-making.
A property coach can help you develop realistic and attainable investment goals, analyse your strengths, weaknesses and financial situation, advise on and develop strategies that are likely to suit you and your financial circumstances, provide advice on experts you can turn to for specific professional advise, act as a sounding board for ideas you have and properties you discover plus keep you motivated to keep your investment on track.
There are many different ways to invest in property and a great investment strategy for one person may be completely wrong for another. A successful property coach will look at your personal situation, including your financial status, personal circumstances, goals and risk tolerance, and help to establish a plan that is right for you.
Property coaches can show those who want to begin investing in property all the factors to be wary of, so you do not have to make the mistakes that so many new-comers do. More experienced investors can receive advice on the potential problems of expanding a property portfolio so they do not put their existing investments at risk. Even experienced investors can benefit from a property coach, in situations such as changing strategies or selling part of their portfolio to realise their financial gains in the best possible manner.
At the end of the day, the decisions you make are still your responsibility, however a property coach can help ensure that your chances of success are that much greater.
The cost is tax deductible, which makes it even more affordable. However it is far more likely that the money you will save through the good advice you will receive will extend well beyond any tax deduction or the investment you make in consulting with an experienced property coach such as Andrew.
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