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I am a so called Landlord by mistake. I have been having this property for few years now but our intention (wife and me) is to now take the leap of faith and try to become a property investor.
There are millions of youtube videos and guru, is any "real" mentor and not a "sales person" out there? Ideally I would like this to be based in Glasgow area.
Also will it be worthwhile to attend some PIN meeting?
Mentors have to sell to a certain extent as if not no one can find them
If they don`t sell their service they don`t get any business and you dont get mentored
So they advertise or get passed referrals . The principle of that is ok with me
But some advertising can appear real but is not .
Its hard to work out these days to work out whose real and whose a dud
People are clever in their selling techniques
But likewise we are ( or should be) better now at not being taken in
Some services you pay at the end . They take more of the risk
Some services you pay at the start . You take more of the risk
Contracts are made to safeguard both but taking someone to court is onerous
I suggest you should look for the kind of mentor where you remain in control
If they are good they will respect your natural fear of being ripped off
So they should be happy to prove their worth first
So I wouldn`t pay a mentor £3000 for 30 sessions up front
But likewise I wouldn`t expect a mentor to give me 30 hours mentoring before getting paid
I would though perhaps pay a mentor £100 per hour at the end of each hour 30 times
After each hour I get to decide whether to pay or not and whether to continue
This way both then have only £100 to lose at any one stage
That seems fair to me
Jonathan Clarke. http://www.buytoletmk.com
Hi Dario,I would recommend joining a landlord association - a professional body for landlords who want to raise their game. They offer training, advice, support, networking events etc.Property Tribes is partnered with the Residential Landlords Association and our members receive a 25% discount off the joining fee. The is also the Scottish Association of Landlords who do very good work and are very active in Scotland with a large and active membership.Joining a landlord association, reading Property Tribes on a regular basis, and attending a few landlord events should keep you on the right track.The thread below will give you some insights into going in to property full-time, but, unless you have significant cash to start with, it won't be quick process and you should run a mile from anyone who tells you that it will be!Guide: Giving up day job to become a landlord Hope that helps for starters and good luck!
Vanessa Warwick Landlord and Co-Founder of PropertyTribes.com **If you have got value from Property Tribes, find out how you can support it in remaining a free to use community resource**
Excellent advice from Jonathan, and as Vanessa says, start to immerse yourself in reading. Any Landlord Association is better than none.
I'm happy to have a conversation with you to start you off ( no charge - and as such PTribes probably won't mind you having my email address )
Is that okay Vanessa ?
For the record I am not trying to sell you anything because I am not qualified to advise on the Scottish BTL market.
My opinion, for what it’s worth, is this:
In theory, investing in property and being a landlord is a relatively simple process of buying a property and finding a tenant.
It is, if it is done correctly, and, just as important if it is done to suit your individual circumstances. Your age, finances, lifestyle and expectations are paramount considerations.
In practice, it is buying the right property at the right price in the right area at the right time, finding the right tenant at the right rent, creating the right tenancy agreement with the right documentation, and understand and carrying out your statutory obligations in managing the property and your tenant.
It is the guidance through these aspects (the rights) of property investing that I see as my primary function when talking with new investors, and is always done to suit their personal circumstances.