SarahBeenySpringIssue2017 - 41
NEED A HAND TO GET ON
THE PROPERTY LADDER?
WHY USE A PROPERTY MENTOR?
The dynamics of the property market are constantly
changing in terms of finance, mortgages, legislation,
planning laws and building regulations. There are
always new ways of investing, too. Therefore, the
potential for making costly mistakes is huge - a good
mentor can help you to avoid the pitfalls.
WHAT MAKES A GOOD MENTOR?
A mentor will help to guide and steer you, so you
can avoid making the same mistakes as they did and
reach your goals more quickly.
Also, a good mentor should be prepared to
answer specific questions about their own portfolio
- do some research and ask questions to assess their
credibility. Do your own due diligence.
Mentors operate within a network of like-minded
people and will have all the contacts you need to help
you develop your own unique strategy for success.
Be wary of anyone who offers you any kind of
get-rich-quick scenario. Just like any other business,
you need to put in the time and effort with someone
who is going to help you build a solid foundation for
your property business.
ARE THERE DIFFERENT TYPES OF
There are different types of mentors, so you will
need to do some research and decide which kind
would work best for you. They tend to fall into
roughly two categories.
The first kind is the property mentor who goes
for volume, rather than small-group, bespoke
mentoring. They will often run large events, or
seminars, at regular intervals, with many attendees
and the opportunity to buy into various training and
mentoring packages. You will be assigned a mentor
at a later stage. Mentoring is mainly done remotely
MEET THE EXPERT
Mandy St John Davey is a professional property
developer, investor and mentor from south Wales,
who has worked in the sector since 1999.
She bought her first house at the age of 18 and
now has a multimillion-pound property portfolio
spread across the UK and overseas. She has a
particular interest in supporting women who wish to
invest, either by renovating for sale or by building up
their portfolio from scratch using different strategies.
Last year, Mandy was chair of the south Wales
branch of the association Women In Property. This year,
she will co-ordinate the Regional Student Awards,
which champion the most promising second-year,
female university students studying construction and
built environment. She's a regular commentator on
television and radio and in the print media.
Win a free property
Mandy St John
Davey by visiting
via Skype and telephone. Largely, though, in between
sessions you will be left to your own devices with
intermittent contact. You need to decide if this
method would work for you and your requirements.
The second group of mentors offer a hands-on,
bespoke mentoring programme for a limited number
of mentees. Contact is more regular and often
face-to-face at key stages of the journey.
My mentoring style falls into the second group.
This enables the mentor and mentee to develop a
close professional relationship, which often continues
beyond the end of the official programme.
WHAT IS A GOOD OUTCOME
AT THE END OF MENTORING?
You should feel that you have the understanding,
knowledge and, above all, confidence to invest in
property by yourself.
Additionally, you should feel that you can have an
ongoing relationship with your mentor and know that
he or she will be thrilled to celebrate your successes
five, 10 or 15 years down the line.