Expectations for All-Day Jan workshop?

[Smitty]

Just curious about what everyone`s expectations for the all-day workshop in Edmonton are like?
My expectations are quite high. And in terms of what I`d like to see, I wouldn`t mind seeing a lengthy discussion on "What`s Behind The Curtain".

I`d like to see some back and forth exchange of ideas, even a debate, of what`s really driving our current real estate market. Perhaps a forum of some sort, with 3 to 4 speakers, like a roundtable discussion. What I really want most is to have the REIN team have some guest speakers who are bearish on Canadian real estate in general and have Don provide a point-counterpoint atmosphere. Like a David Wolf (Merrill Lynch economist type).

I like the "ra-ra you can do it" and "lets have xyz talk about goal setting" as much as the next guy in terms of guest speakers, but given what happened in 2008, I would hope the REIN team has dedicated itself to making sure this event has a lot of information and discussion. There is quite a bit of negativity out there, lets see what the REIN team comes up with.

Plus, I like Don`s predictions about the Super Bowl and Stanley Cup.

Thoughts from anyone else? I am pretty excited actually.

Smitty (Mike)

 

[Jack]

QUOTE I`d like to see some back and forth exchange of ideas, even a debate, of what`s really driving our current real estate market. Perhaps a forum of some sort, with 3 to 4 speakers, like a roundtable discussion. What I really want most is to have the REIN team have some guest speakers who are bearish on Canadian real estate in general and have Don provide a point-counterpoint atmosphere. Like a David Wolf (Merrill Lynch economist type).

Fantastic idea.

I completely agree with you on the "debate" front; I`ve felt for a while that the monthly meetings would be a lot better with an open Q&A period. Agree also that it`s always best to hear two sides of the story; as investors, we shouldn`t really want to be "motivated". I recall debating whether or not to fly to Edmonton for the last Quickstart. Many members were encouraging me to go, because "it`s just such a positive, motivational environment". Sorry, but if I want that sort of stuff, I`ll go to a Tony Robbins event (which I have, and it was very cool, BTW), not an investment network`s monthly meeting.

QUOTE I like the "ra-ra you can do it" and "lets have xyz talk about goal setting" as much as the next guy in terms of guest speakers, but given what happened in 2008, I would hope the REIN team has dedicated itself to making sure this event has a lot of information and discussion. There is quite a bit of negativity out there, lets see what the REIN team comes up with.

Negativity, or reality? Demand is down. Values are down. The positive spin is that you`re bound to find some motivated vendors out there, which I suspect is something that they`ll focus on. But, fundamentally, these are not good times.

I`m still debating on whether or not I should go. Flight to Edmonton, two nights in a hotel, meals, transportation, etc., will probably run about $500.

 

[Thomas Beyer]

QUOTE (Jack @ Jan 6 2009, 07:40 PM) But, fundamentally, these are not good times.
perfect .. prices are low .. great buying opportunities ..
QUOTE (Jack @ Jan 6 2009, 07:40 PM) I`m still debating on whether or not I should go. Flight to Edmonton, two nights in a hotel, meals, transportation, etc., will probably run about $500.
and meet someone, pick up a great idea worth $12,000 for your next deal.

 

[Jack]

QUOTE and meet someone, pick up a great idea worth $12,000 for your next deal.

But that`s what this message board is for.

I get enough great ideas & insights from reading posts from you, Garth Chapman, Adam Hoffman, Wealthy Boomer, etc.

 

[RJPurvis]

QUOTE (Jack @ Jan 6 2009, 09:24 PM) But that`s what this message board is for.

I get enough great ideas & insights from reading posts from you, Garth Chapman, Adam Hoffman, Wealthy Boomer, etc.
This will be my first meeting - and I too am looking forward to hearing what REIN has to say about what is going on currently in the economy. I am already optimistic about what is going on - I just want to confirm that I am optmistic for the right reasons and I want to hear about what I might be getting wrong.

I have a friend who just went into foreclosure on a very high priced piece of real estate and when he and I are talking we are having two different conversations. He talks about how the economy is so bad and I am talking about how I believe this is the time to make money. I`m not rich, but I`m also not in foreclosure so I understand why he feels that way but his perspective is distorted for obvious reasons. When I talk to him I want to be able to support my case that times are actually good and have some great REIN research to back it up.

I will be at this meeting for sure. I wouldn`t miss it since it is my first.

I am also not as interested in the ra ra stuff. I have done a lot of that over the years.

Bottom line: I really want to discuss real estate market fundamentals and how to get more properties into my portfolio and optimize the ones I already have there (I just picked up a condo in October before I was a REIN member).

Looking forward to meeting many of you folks - so I`ll see you in Edmonchuck!

 

[Smitty]

QUOTE
Negativity, or reality? Demand is down. Values are down. The positive spin is that you`re bound to find some motivated vendors out there, which I suspect is something that they`ll focus on. But, fundamentally, these are not good times.

I`m still debating on whether or not I should go. Flight to Edmonton, two nights in a hotel, meals, transportation, etc., will probably run about $500.

Jack:

Wasn`t implying that the negativity and reality are two different things. Not interested in `spin` - positive or negative. What I want to see is the REIN team`s research on economic fundamentals. Now of course, there may be a `spin` to it; probably positive, for long term.

Hence the debate idea. Don teaches us to "look what`s behind the curtain", and in previous years that often translated to digging beyond headlines for facts, stats, and numbers. Even then, facts, stats, and numbers can be interpreted different ways. I`d like to see a REIN event - and really, what better event than one that kicks off the new year in all-day format, to have various speakers offer varying interpretations?

Some may say that because a lot of markets - real estate, stocks, whatever, have been beaten down (no question equities worse than real estate in Canada, US is a toss up), some would say now is the time for the positive, motivational inspiration to help us through and keep with it and stick to it kinda thing.

Like I said, that`s fine, but I hope the entire of the day is not centered on that. I hope most of the day would be dedicated to an open, frank discussion of economic fundamentals.

Now let me add one final comment. Perhaps I missed the boat, or wasn`t paying attention, so someone correct me if I am wrong. The REIN research indicated that values would pull back and values would retreat sometime around this time. They were pretty correct right in terms of timing. We were also taught that any normal real estate growth cycle experiences this kind of "plateau" - as it was described. But I do think this plateau is more severe than anticipated, and that the pullback may be more prolonged than was anticipated.

Such is life and predicting the markets. Who has 20-20 foresight anyways? I stand by what I have said in other topics, particularly that real estate is good investment over the long haul. But I am very - very - curious as to what REIN`s research is indicating to them now. I am young enough to stretch my timeline if necessary, but I know other REIN members who have started to wonder about this too. My one and only example, to illustrate; at its peak of the boom, I believe our much vaunted number went as high as "274". 274 Billion dollars of investment including direct and indirect spinoff benefits coming to Alberta and especially the Edmonton area (obviously not all of it). With so many projects delayed or cancelled, what`s the new number?

"Only" 100 billion, if more than half that investment has disappeared? 50 Billion? 2 Billion? What`s the number where so much cancellation and delay causes what I consider to be largest drivers of values; - economic growth and in-migration - gets slowed to the point (even negative) that we start getting a little nervous?

I see short term - but now prolonged in the sense we`re now talking years instead of months "pain", with long term fairly possible bright horizon, if such thing is possible (it is, in my opinion).

I have been busy building a new business for myself, and because I am in a holding pattern for my real estate, you can easily tell I haven`t kept up with the latest stats and numbers. I hope smarter and more up-to-date investors will comment and shed some light.

Smitty
P.S. Cheap flights today, Jack.

 

[Allie]

QUOTE (Smitty @ Jan 7 2009, 09:54 AM) I like the "ra-ra you can do it" and "lets have xyz talk about goal setting" as much as the next guy in terms of guest speakers, but given what happened in 2008, I would hope the REIN team has dedicated itself to making sure this event has a lot of information and discussion. There is quite a bit of negativity out there, lets see what the REIN team comes up with.


I enjoy the great positive atmosphere when it`s streamlined and fresh, with less rhetorical questions. I`m also all for networking but not forced networking with forced topics of discussion, especially in the middle of a perfectly good presentation. Often times at the REIN meetings, I`ll be enjoying and soaking in the information when the audience is interrupted and asked to share with the person beside them what they did during the summer, what their biggest real estate mistake was, what was the worst thing they heard in the news etc. The exercise where we had to pretend to be creatures with our own strange alien language and pretend to owe the other guy money was cute but I have no aspirations of becoming a thespian. LOL I feel that the speaker`s break could be better utilized if we, as "sophisticated investors" could discuss whatever real estate related question or topic is most relevant to our current situation. I too would appreciate more facts, even if it means I`ll go home depressed about my current investments. REIN does an excellent job with gathering information so I am looking forward to more discussion.

P.S I forgot to add: I admire the speakers at REIN and appreciate it`s not an easy job. The material alone is often interesting and compelling enough that no additives are required to keep anyone`s attention. REIN has the best signal-to-noise ratio of any group I`ve experienced and I look forward to the next meeting. It is during these challenging times that we need solid information.

 

[DineenJJ]

I want to hear some truths, and im sure Don and the REIN team will deliver

 

[Aneta]

Is there an up to date agenda for the upcoming all day workshop?

 

[terri]

as investors, we shouldn`t really want to be "motivated".

I agree with Jack that I don`t want motivation when I go to a REIN meeting, I want facts. I won`t be attending the all day workshop in Edmonton, but I`m hoping that the regular monthly REIN meeting here in Toronto with focus on facts, especially any changes to economic fundamentals. I don`t know when we are expecting a new top ten Ontario towns but I would love to know how our current economic stiuation has affected the strength of certain towns/areas.