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101 Property Investment Questions to Determine if you NEED Training or a Property Mentor?

Whether for personal growth or career goals, mentors play a valuable role in the lives of people looking to achieve new levels of success. Hiring the right mentor for your specific needs takes time and research to find the best person.

In this question list, we highlight a small part of the value that a mentor can bring. Someone who can answer all of these questions with you.

If you personally are unsure of any of these questions then a mentor really is necessary so you don’t make needless errors when investing and can mitigate the most common problems new investors tend to make, most of which carry time and or monetary consequences.

Let us know how many you can answer confidently?

  1. Do you know the current rules and regulations surrounding purchasing a property, letting the property, and running the tenancies and how to apply simple tricks through the purchasing process to avoid major cost implications? Note even if you plan to leverage an agent you still need to know this.
  2. Are you aware of the one thing you must now do during the conveyancing process of a purchase that is NOT law for the seller but is law for the buyer when they rent their property out (Note: by not doing this it could cost you thousands of pounds and you are effectively burying your head in the sand or crossing your fingers if you don’t do it).
  3. Do you understand the legalities and liability with respect to EPC’s, CP12’s, EICR’s, AST’s & Council Tax or is there only one or two from that list you recognise?
  4. Do you know how the current regulations changes will affect your business as you advance?
  5. Do you have a credible source of information regarding legalities and regulation updates?
  6. Do you know how to determine the best correlation between the use of your working capital V’s the purchase price of a property to determine what the most effective route to obtaining your vision is? (Ignoring this crucial rule means your capital will not stretch as far as it could by assessing growth with this in mind.)
  7. Do you know what ROI is? Do you know how to work it out and when to use it and EXACTLY what is included in the calculation to ensure that it is a TRUE reflection of your money?
  8. Do you know which property models and types give the best ROI?
  9. Do you know why your ROI increases BUT your cashflow decreases when adopting the BRR model?
  10. Do you know and fully understand what angel finance is and how this will affect your ROI as well as the deal you are looking to use it for? Furthermore, do you know where to source this finance?
  11. Do you know what ROI you intend on trying to achieve and how this may differ given the different property models and types?
  12. Do you know & fully understand what a bridging loan is and how this will affect your ROI as well as the deal you are looking to use it for, do you also know where to source bridging loans?
  13. Do you know how to structure shares in a LTD company to avoid potential tax implications with multiple directors?
  14. Do you know what cash flow is and how to work it out as well as the corelation to ROI and why Cashflow on a given deal NEEDS to be mutually exclusive from ROI and instead linked to your ‘overall’ cashflow AND WHY? (Another critical element of not allowing your capital to be squandered unnecessarily)
  15. Do you know how to calculate both Gross & Net yield & do you know what it is used for and which one to use where and why, as well as what is included in each calculation to ensure it is accurate?
  16. Do you understand inflation and how it strips the value of the loan and how it is currently devaluing your capital and time at an alarming rate?
  17. Are you set up for and fully understand how to take advantage of rapid capital growth to further increase your portfolio’s cashflow, understanding that initially your cashflow may be reduced as a by-product and understand how to calculate if this should be done or if it’s a pointless exercise that would, in fact, be detrimental to your growth?
  18. Do you know what can and can’t be claimed back against your tax bill, including your training, mentorship, travel and accommodation meaning any training fees you incur have just decreased by around 19%+?
  19. Everyone talks about Leverage, Leverage, Leverage, BUT do you know exactly when and where to ignore that and when it would be advantageous to use CASH?
  20. Do you know what working capital and leverage capital is, the difference and how to calculate its use?
  21. Do you know what SDLT is, how to calculate this given the difference in percentages as well as incremental jumps and LTD mandatories?
  22. Do you understand that the mortgage HAS to reflect the deal, this might save you thousands of pounds over either a 5year fixed term or when using the BRR or FLIPPING model?
  23. Do you know what happens with your interest-only portfolio in 25 years and how you will pay these back?
  24. Do you know what monthly cashflow you are trying to achieve and in what timeframe and are you confident enough that you can achieve this given your current knowledge?
  25. Do you know how to extract equity form a property, either a BTL or a home and how to ACCURATELY assess if this is the right thing to do using mathematics as a way of increasing your confidence and appeasing your fears?
  26. Do you know how to determine if you need to open a LTD company, given that this is not something you can search on google because it is categorically UNIQUE to your personal circumstances?
  27. Do you know what company structure you’ll be adopting to be the most tax efficient?
  28. Do you know what you would do if property prices crashed and how that would affect your business and how you can elevate this one fear/worry to transform it into confidence and then capitalise on it?
  29. Do you know how you can use your own working capital in conjunction to leveraging other people’s money to supercharge your investment journey?
  30. Do you know how to set your LTD company up including using a corporate group structure to move money freely between companies without crossing tax barriers?
  31. Do you know what and how to construct and use a feasibility template to determine a specific properties viability?
  32. Do you know & fully understand what a JV is, how they work and their advantages, risks, set-ups, splits and pitfalls relating to LTD companies?
  33. Do you know how to find the best properties that yield the best results, knowing that this is NOT a mathematical equation since using a mathematical equation only will result in a poor portfolio with weak foundations?
  34. Do you know how you remortgage a property in 6 months when you have a 2-year FIXED term to adhere to and the importance of obtaining the right mortgage in the first place to aid this and avoid major costs?
  35. Do you know how to search for the right kind of tenant but more importantly how to deter the wrong kind?
  36. Do you know how to construct a coherent strategy (using the simple D.N.A. model) that’s not simply an idea or a goal – FULLY understanding that a strategy is NOT an investment model but a far more complex blueprint?
  37. Do you understand the key differences of interest only Vs repayment mortgages, which one to use and when?
  38. Do you have someone you can turn to for EXPERT advice that you know 100% will assess your question based on you as an individual, will give you various different solutions, show you how to conclude this for yourself and has NO HIDDEN agenda?
  39. Do you know what happens at the end of a 2- or 5-year fixed term and how to avoid further costs being added to the loan each time, saving you upwards of 12-15k over the term of the mortgage?
  40. Do you know exactly what to do if interest rates rise to hedge against the loss of cashflow in your business and how/why this will not affect you and your portfolio if done correctly?
  41. Are you prepared enough to accept that your journey, your portfolio and the success of both really hinder on YOU and YOUR personality? With that in mind do you truly believe that you currently have what it takes to ensure it does not negatively impact you?
  42. Do you know & fully understand what BRR is including ALL the mathematics, legalities and benefits Vs the potential pitfalls and RISKS?
  43. Do you know exactly what to look for in a property to suit your particular strategy and more importantly what to avoid to stop yourself buying a ‘money pit’?
  44. Do you know how to assess what is required from a property to determine its initial cash outlay as well as future costs and the implications of those costs with respect to growth and disruption?
  45. Do you know how to find BRR models and how to assess their viability with the refurbishment, post refurb value and leverage fund mathematics in mind?
  46. Do you know what the most important thing is for your portfolios success when choosing a tenant?
  47. Do you know why ‘keeping up with the jones’s’ with regards to rent increases during a tenancy can be the worst thing you can do, contrary to that do you know exactly how to calculate what a suitable rent increase would be and how to manage that so there are no voids, knowing how to calculate how long that void would take to recoup in monetary terms?
  48. Do you understand that your tenant search starts when you source your property and that the chances of them leaving a property can be hedged against at this point, because you fully understand that the tenant IS YOUR BUSINESS and VOIDS eat into PROFITS quicker than ANYTHING ELSE?
  49. Do you know the difference between Leasehold & Freehold and what you can do regarding Leasehold to absorb the implications to widen your property search?
  50. Do you know what the first things to do when you complete on your very own property are?
  51. Do you know & fully understand what a HMO is, the legalities, how to calculate the maths properly and not just the idealistic scenarios, as well as how to assess locations, property suitability, rentability, regulations as well as determining if it’s a viable model for your own personality, vision and strategy?
  52. Do you know what sourcing is, how to do it, where to find external companies, the right questions to ask to avoid being sold ‘the dream’ and how to assess the deals they send over to ENSURE they are, in fact, viable deals?
  53. Do you have an arsenal of tools and templates ready to go to ensure you are the most efficient you can be with your time or do you intend on using your valuable time constructing these yourself leaving others to source and purchase the property while you’re in the office developing?
  54. Do you know what it is you don’t know yet or do you think that all you know is everything you’ll need to know?
  55. Do you know what the 18-year property cycle is, but more importantly do you know how to take full advantage of it?
  56. Are you able to filter out all of the dream-selling hype that surrounds social media and YouTube to determine EXACTLY what is right for you to avoid being lured into one of the get-rich quick promise schemes or investment models?
  57. Do you know why ‘waiting’ to see what the property market does is not only detrimental to your success but in most cases a complete waste of time and money?
  58. Are you aware of how important the EPC rating of a property is? And why is this relevant now? Plus, do you know how to analyse if this will cost you dearly?
  59. Do you know & fully understand what Rent to Rent is?
  60. Do you know & fully understand what lease options are or is?
  61. Do you know & fully understand what exponential growth is and how you can forward plan by using a projections analysis tool to forecast your NET growth over a 5-10-15-20-year period?
  62. Do you know & fully understand what compounding (property specific) is and how you can take advantage of that by using a projections analysis tool to forecast your NET growth over a 5-10-15-20-year period?
  63. Do you know how to determine the achievable value of a property by using comparable evidence?
  64. Do you know how to determine a properties rentability as well as demand vs oversupply?
  65. Do you know what a SPV and a SIC code is as well as understanding FULLY which to use specific to your investing preferences and the traps by using multiples of either?
  66. Do you know how to determine the achievable rent on a property by using comparable evidence?
  67. Do you FULLY understand that your tenant search and subsequent success and longevity of a tenancy starts when you are sourcing your very own property, and getting this right is one of the best things you can do for the success of your entire portfolio?
  68. Do you know how to determine your GOLD mine area based on your preferences that are undoubtedly unique to others?
  69. Would you know exactly how to take advantage of a property price boom?
  70. Do you know how to assess a property and a location from a remote location and are you confident enough with potentially allowing other people view your investment because locality is an issue for you?
  71. Do you know what the most important thing is for your portfolios success when choosing a managing agent?
  72. Do you know what the most important thing is for your portfolios success when choosing a tenant?
  73. Do you know what the BIG 8 are when viewing a property and do you have a systematic property viewing process that uses a ‘fool proof’ template designed to improve your chances of buying a successful property or do you intend on figuring this out as you go along, understanding that you will undoubtedly make mistakes and that these mistakes can lead to buying what is termed a ‘money pit’?
  74. Do you have a full list of useful websites to aid in your valuations, analysis and due diligence processes?
  75. Are you able to acknowledge that we all have/had at least one of the following – low confidence – Fear – Lack of Clarity – Lack of Direction – Overwhelm, however, you know how to mitigate this so that it doesn’t inhibit your progress or even prevent you from starting your journey because this would truly be catastrophic?
  76. Are you aware you can invest with your Pension, RIGHT NOW!!!?
  77. Do you fully understand compounding and its ripple effect and how it can grow exponentially to aid your journey in every aspect from mindset to???
  78. Do you know what a Schedule of Works & Gant charts are as well and how to use it to plan any form of refurbishment?
  79. Do you know what the time cost quality triangle is?
  80. Do you know what the Time Education Capital or TEC triangle is?
  81. Do you know what SWOT Analysis is?
  82. Do you know how to construct and build various spreadsheets to yield the exact results you’re looking for?
  83. Do you know what your current mindset is and what you need to adopt to be successful in property (it’s not just a positive mindset, it’s far deeper than that)?
  84. Do you know the difference between goals, objectives and visions?
  85. With the above question in mind which do you think you stand the most chance of success, knowing what you don’t already know or thinking you already know enough?
  86. Do you understand that the best time to plant a tree was 20 years ago BUT the Second-best time is NOW because you have been taught and fully understand the TIME VALUE of MONEY?
  87. Do you have a vision, a one that you know is achievable because it has been considered logically using mathematics and projections in line with your current skills and time constraints to ensure it works?
  88. Rate your current property knowledge out of 10 & say this number out loud. Now take AT LEAST 2 points from that since we GUARANTEE it’s an overestimation and ask yourself this one question. Do you think that number is high enough?
  89. Do you have your own network with Solicitors, reliable and professional brokers and accountants or do you intend trialling these until you find one you can trust?
  90. Do you know why you should not sit and wait for the right time to invest, even in the current climate and by waiting for the right time to invest will hinder your development, not only from a compounding and exponential cash flow growth but from a growth mindset base too?
  91. Do you know that ALL your initial FEARS are unwarranted and once rationalised through education you can turn this fear into complete confidence, fully understanding that these fears are unfounded and the vast majority once questioned are exposed?
  92. Are you confident enough that you can take all the conflicting information around, funnel it, focus down and reduce the overwhelm all by yourself because you TRULY understand where it is you want to be and how to get there?
  93. Are you aware that the Property industry is not a binary industry and that with the exception of regulations and mathematical science the rest of the industry relies on you and your decisions relating to your journey, personality and vision. If so, are you fully prepared on how to decipher this for yourself?
  94. Are you aware that the further up the ‘achievable’ or ‘dream scenario’ ladder you climb with respect to using other people’s money, Direct to Vendor purchases or Rent2Rent or Lease option etc. the more of your time and effort you need to apply? (However, you fully understand the inverse relationship between education and time input realising that there is not necessarily a direct correlation between Time and Effort.)
  95. Do you understand that you will have to work much harder in the beginning because you understand that Increased ‘Effort over Time’ allows for earlier success rather than moderate effort over time?
  96. Do you know how to effectively balance ACTION, MOMENTUM and PATIENCE understanding that finding this ‘balance’ is KEY to developing SOLID FOUNDATIONS?
  97. Do you know what a recursive process is and how you can take full advantage of this to aid not only your mindset but the very growth and success of your company?
  98. Do you know how to quickly analyse your chances of success using the BIG 3 considerations and how you can mitigate at least two of these considerations to improve your chances, fully acknowledging that at least one of these, namely TIME carries twice as much weight as the other two and is the commodity that we all share an issue with, however, you know that by increasing another, namely, EDUCATION helps exponentially with this?
  99. Do you know how to Macro to Microfilter and how you can implement this not only with your property search but with almost every aspect of your strategy and actionable progress?
  100. Do you understand that the property industry moves very fast and that lots of the articles you are reading, videos you are watching, podcasts you are listening to and books you are reading are now out of date and actually detrimental to your progress?
  101. Are you really ready to succeed?

    We mean properly succeed, not just talk about it or give it a go, putting 50% of your available time and effort in, knowing that this approach will ultimately fail you, we mean ready to change your lifeIf so, are you ready to have your entire world rocked by opening the boundaries of your mind to absorb what this wonderful industry can give you and what is possible for you within it?

That’s the BIG Question

If you would like to discuss mentorship or training options or simply would like to chat with David then please contact us today:

e. info@wiseowlpropertytraining.co.uk

tel. 01325 930118
text. (WhatsApp):
07397841220

We would love to discuss your queries and concerns and answer all your questions in full.

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