Why property mentors encourage DIY investment

After four purchases, the investor is still moving fast ahead, chasing properties that will grow significantly in 10 to 15 years, or even less, if possible.

She said: “Fortunately because we did have a property in Sydney that hit the market as it went as crazy as it did, it gave us this opportunity to withdraw equity in our home so we could go forward. We were in a good position for starting. I think we'll just keep going as much as we can.”

“What we'll do is we'll keep buying until we run out of the money and we'll let our equity build up in those properties. Then, we'll take the equity out of those and we'll go again and buy a few more.

“Then, we'll sit on those. We either sell off a few, pay them off, have the rent coming in and the capital growth still. There's a few options,” the investor added.

'Think big'

According to Ms Francis, her drive to succeed is inspired by the recognition of the fact that she can think big and, therefore, do as much as she wants.

A lot of investors struggle with ‘thinking big’ in property investment, especially considering how much time and money it requires. However, being ‘hungry’ and ‘aggressive’ in the business of wealth-creation does not mean throwing all caution to the wind.

In fact, she strongly encouraged having a clear and well-thought process for every single property purchase and knowing exactly how it will all fit into the portfolio you are building.

For instance, in order to achieve her goals, she knows very well that she needs to chase ‘growth properties’ that will not cost a lot to hold so she can maintain good serviceability and continue to move forward.

“I’m actually still very conservative. I have mentors supporting me in this, experts who really know me, can work with me and I can ring all the time to keep on track. I’m doing enough due diligence to avoid any big pitfalls,” she said.

Property mentors

Aside from self-education, the support that she gets from her mentors inspires Ms Francis to go as hard as she can as an investor.

She said: “My mentor was able to show me that you can step forward without being hesitant.”

“I can ring her any time, as many times a day. Sometimes, I ring her three or four times a day if something's going on like if I'm doing a deal. She can guide me and give me that help that I need,” the investor added.

At the end of the day, she does all the work for her portfolio and her mentors act only to support her by evaluating her decisions and guiding her through processes like dealing with local councils to finding the right real estate agent.

This setup has helped her become more discerning about the areas she chooses, the properties she buys and even the strategies she implements to grow her portfolio.

Ms Francis said: “I’m doing all the work and they're providing me with the education. They will never tell you an area to choose. They'll only ever guide you.”

From starting as a budding investor who has no clue about how to invest outside of her own area, Ms Francis can now jump from market to market and find properties that will fit her portfolio well.

According to her: “Do you buy a two-bedroom? A three, four, five? I didn’t know that before, but now I do. I can find an area, find exactly what the tenants are wanting, find out if there is a big enough rental market.”

“If you're doing enough research, you get to buy in the right place. It's great to learn it all. Your panel of experts, the people that you need, like your broker, your accountant, they’re great and absolutely essential but the continued mentoring is just the real winner for me.

“It's about the education. It just keeps you tightly focused on where you're going and takes out all the fear so you can take control,” she concluded.

Tune in to Greta Francis’ episode on The Smart Property Investment Show to know more about her long-term investment plan and her ideas on how to approach learning about a potential investment area.