Are you ready to buy your own home or investment property? With so much advice floating around it can be difficult to find quality information and guidance.

There are so many real estate agents, property coaches, financial planners, accountants, and investment advisors out there ‘to help you’ and it can be incredibly daunting trying to find the best option for your investment journey.

To help you confidently take the first step, I have compiled a few fantastic questions, that I personally have been asked, during my initial property strategy meetings.

These are the kinds of questions, that you as a researcher, and buyer, have every right to ask. If you have found the right investment property advisor you will feel 100% comfortable to ask and happy with your response.

1. Who are you being paid by?

I personally think that this is the most important question. Anyone who has read the famous Dale Carnegie book “How to win friends and influence people” (if you haven’t I recommend you do) knows that humans are intrinsically self-motivated. If there is nothing in it for them why would they be helping you?

Always work to find out immediately, what’s in it for the property advisor, where do they receive the kickbacks? Once you know where they are receiving commissions you can be wary of their competing influences.

2. Can you explain your costs and payment structure?

Costs and fees will change depending on, of you’re looking for once-off advice, or an on-going mentor relationship. It can help to quote a few different companies to ensure you aren’t paying too much.

3. What brands or people are you affiliated with?

It’s great to have an understanding from the onset of who your property investment advisor is affiliated with. Some affiliations will be largely beneficial, and may add to why it’s advantage to work with the person, while others could be harmful to your strategy and advice.

Memberships with industry bodies could give them further credibility and affiliations with partner accounting firms or property management professionals could definitely come in handy. While other affiliations with property developers or builders could influence the advice they give and is a point to be aware of throughout the research and advice process.

4. How many properties do you personally own? When did you invest most recently?

Another very important question. A personal rule of mine is to only take advice from people who are achieving what you desire.

You wouldn’t hire an over-weight personal trainer to help you loose weight! You wouldn’t take graphic design advice from a designer without a business card! You most certainly shouldn’t take property investment advice from a professional who doesn’t have an impressive portfolio.

Ask what their personal portfolio looks like, the strategy behind it, and also what their average client’s property portfolio looks like. Also look to see if they have bought properties in the past 10-15 years or if they were all pre-2000’s.

5. Are you licensed and qualified to give advice?

Depending on the type of advice the property investment coach is giving will determine the license they should have. If it is general advice, that doesn’t take into account your specific situation, then no licence is necessary.

Real Estate agents or agents involved with the buying transaction should be a licensed agent.

Remember that licences are relatively easy to obtain, it’s experience, coupled with the license that you want to find!