As connoisseurs of the property market ourselves, we were prepared to spot a flaw in their system. We were wrong.
In just 2 hours, they opened our eyes to endless investment opportunities that exist in the current market. They proved that the credit crunch can offer a potential investor – you – a credible future in property. In fact, now is the perfect time to invest in property.
Here are the main factors that people are worried about when considering the Property Mentor course:
QUOTE: “People saying there’s no market to invest in, there’s no liquidity and it would be stupid to invest in property. A guy told me that “Prices will not bottom for at least 4 years. Look at 1990…prices started dropping in 89, bottomed in about 94, and didn’t start rising til about 97. That was in a mild recession…this is the mother of all recessions. Stay clear of property until the average wage (£22k) can afford the average house (currently £175k)”
Our answer: These are the people who wont get involved and then regret it later. People who buy now will benefit in the future. This is a long term approach not a get rich quick scheme. The early 1990’s was actually when the guy who runs Property Mentor bought most of his properties simply because house prices were low and rental demand was high – and whats he doing now? Buying as many properties as he can before the market starts to recover again.
During the house price crash of the 90’s the media were saying the housing market had died and prices would never rise so dramatically again. They were wrong, people who bought during the last market crash benefit the most when prices did rise again.
Click here to read our FULL review of Property Mentor!
The Property Mentor system is not about selling houses either, so if and when the prices bottom out have nothing to do with it at all – In fact PM never suggest to sell a property unless you made a mistake in buying it in the first place (which you shouldn’t do if you follow their system).
The PM system is about buying houses when they are cheap and renting them out so they pay the mortgage and generate a positive cash flow. The PM system is recognised by many mortgage lenders and just by being a Property Mentor delegate it becomes easier to get mortgages with no money down.
The PM system is not one investment system either. There are 8 in total so that whatever the market conditions you have a system that works. In fact 2 of the systems do not work in the current market, so although they are still taught (since when the market changes the systems will become effective again) they are not advised to be used at the minute.
Here’s a reply we got when we recommended Property Mentor to an advanced property investor:
“To get back to you, only a fool would purchase right now. The “system” will be based on the old chestnut of BMVs and gifted deposits – mortgage products allowing this died a while ago (Mortgages plc/Merrill Lynch were the big guys on this and they’ve all but gone).”
Our answer: Again this goes back to the fact that many mortgage lenders recognise the PM system works and so will offer better deals to Property Mentor delegates. Basically if you can prove to the bank your rental income will pay for the property and more they will give you whatever you need. The better your argument the better the rate you get.
Remember Property Mentor is a recognised NVQ, the only course which is which shows just how respected it is. The system is not based on BMVs and big deposits. Of course BMV is a factor but the whole system is designed to show you how to find properties that are good investments and collect all the information you need to get a good mortgage.
Another worried e-mail we received after posting our review of Property Mentor, claiming that Property Mentor is a generic UK property scam. That is certainly not true!
QUOTE: “Targets attend a free presentation, where scammers persuade them to spend money to enroll on a course promising to make them a successful property dealer, but the properties are often near-derelict and the tenants non-existent.”
Our answer: By the sounds of this you are referring to the courses that get you to pay a fortune for the course and then the whole thing is buying properties they tell you to buy. Property Mentor do not work like that, if they find a good deal they will buy it themselves.
They never recommend properties to buy….NEVER! What they do instead is show people how to find the good deals, give them the tools, software, networking, and skills to be able to find them, negotiate, and get tennants in. Lets put it this way…..how many scam courses do you know that become a recognised level 3 NVQ qualification?
Rest assured that Property Mentor is one of the best property investment courses available.
You can get a free 2 hour introductory course simply by clicking here!
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Tags: is property mentor a scam?, Property Mentor, property mentor scam
January 24th, 2009 at 9:46 am
NVQ – No Value Qualification.
Does not mean anything.
What I would like to know is how this differs to stuff like Inside Track. What the website does not say is how much the follow up courses cost, if they cost anything.
Can you tell us instead of appearing to be an independent blog but is here just to plug the product.
January 26th, 2009 at 9:03 am
NVQ stands for National Vocational Qualification.
Inside Track were a property
sourcing company. They made money by selling you property deals and that
meant there was a conflict of interest. They made money by selling deals
so it was not necessarily in their best interests to ensure the deal was
good.
They have now gone bust because a lot of the deals they sold people were
extremely bad and in the current market they have become highlighted.
This meant people were dropping out and they were getting a bad name.
The company also bought many properties it could not shift. More Details about this are here:
http://uk.biz.yahoo.com/22082008/401/unanswered-questions-inside-track.html
Anyway Property Mentor are different because they do not course
properties for people so there is no hard sell. They offer an
educational course that gives you the skills and knowledge to invest in
properties on your own (or with their help if you want it).
Therefore Property Mentor cannot go bust as they do not rely on people
buying anything from them after starting the course.
March 2nd, 2009 at 4:30 pm
I’ve just attended a Property Mentor course – I’m really inexperienced property investor and it gave me a brilliant grounding in what I need to know to become a successful property investor. Very informative and not at all ‘sales’ orientated.
June 27th, 2009 at 10:05 pm
Connor…if you’re a “really inexperienced property investor” how do you know that the grounding it gave you is brilliant?
I’ve worked with real property investors (people who hold 150-300 properties) and am also well aware of the skills people acquire on a PM course…the PM course will fill your head with a lot of rubbish about paying for utility bills and buying your tenants wine and giving them argos vouchers (I’ve even heard of someone buying the toilet roll for the their tenant…why I don’t know!)
It all sounds very nice…but a word to the wise, successful property investment is achieved by making your relationship with the propery and tenants as simple as possible. Pay your mortgage, get the rent and get on with finding another property and having a life, while waiting for value of the property to go up in the long term.