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I`m the new guy

JoefromTO

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Who I amHello everyone. As you can see, my name is Joe. I live in Toronto, Canada. I am not new to real estate investing but I am far from feeling confident in my ability to become a large property owner.

My family owns a collision facility that caters to pridominantly higher end vehicles, so we`re not the cheapest on the block. I`m used to dealing with owners of high end cars like Mercedes, Jaguars, Porsche and Ferrari`s and have become somewhat anal in what I expect from my staff. It`s all about the quality of product and service.

My family also was smart enough to purchase the property we run our business on back in the early 60`s, and have continued to buy other sections of property that came up through the years. Of that, we have 4 houses, fully tenanted.

Over time, I began taking over managing the properties. I have never really had any formal tranning, but my family has "taught" me a thing or 2. It was when I first started collecting the monthly rent from all these apartments when I started to see the potential.

When things started

My wife and I bought our first Tri-plex back in Oct 2004. It`s been a good experience for me. I was very nervous as I`m sure many people are when they first start. I read many books and even took a course related to the whole tenancy act to educate myself as much as possible. I have also added alot of new friends, people with similar interests.

I recently purchased Robert Kiyosaki`s book Rich Dad Poor Dad. Once I finished reading that, I went back to the book store to purchase a few more books and this is when I first picked up "Real Estate Investing in Canada". I picked it up on tuesday and I`m already about 50 pages into it hehe.

What am I getting at?
I am a very motivated person. I saw the potential in investing in real estate and went out and bought one. I didn`t have the tools that Don C. provides. I didn`t know anything about ACRE and I`m still in the process of learning. Obviously, my interests have brought me here and I`m glad to see that there is a website and information geared specifically to Canadians. The thing is, I really want to aquire many properties and become financially independent. I`m confident that one way or another, I`ll get there.

The thing is, I was shocked to find out how expensive it is to become a member here. I already know that anyone and everyone who is reading this will comment in the value being a member is. I am sceptical by nature, so please don`t take this as my questioning the quality of the product(s) available here. I suspect that the price is well warranted.

What I need to know is how complete is it? For example...If you took someone who has never bought any kind of Real Estate and knows nothing about the business of property ownership and management, would they learn everything they need to know to become completely self sufficient?

If you had to say one area that you felt that being a member lacks...what would that be?
 

TodorYordanov

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This has been discussed many times. Please do a search on benefits of REIN or anything you like.

REIN will give you fundamentals, networking, energy and courage, knowledge and systems. What REIN will not do is take action for you. They haven`t figured out how to do that yet.
style_emoticons


Welcome to myreinspace and all the best,

Todor
 

ChrisDavies

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QUOTE (JoefromTO @ Oct 1 2008, 11:11 AM) What I need to know is how complete is it? For example...If you took someone who has never bought any kind of Real Estate and knows nothing about the business of property ownership and management, would they learn everything they need to know to become completely self sufficient?

If you had to say one area that you felt that being a member lacks...what would that be?

Hi Joe, membership, which includes the monthly meetings, Quickstarts and the associated printed material is really all you need. Between that and support from the members on here (which includes the members-only area) it will be all you need. It should be all the hand-holding you need. I`d say that a REIN membership and Quickstart offer the university baccalaureate-level education, which is far beyond anything else you`ll find and more than enough for whatever you (or I) will be doing.

There are more detailed resources available, such as the RRSP Mortgage, Joint Venture or Renovation Secrets packages, if you choose to specialize. The cost sometimes seems high, but just one property will cover the cost of a lifetime of REIN membership and purchasing every real estate book on the planet, with enough money to take your extended family to Mexico for a month.

Compared to other real estate groups or training courses, REIN is by far the best value. People here walk the talk, including Don and Russell.

I wish they`d offer more rich-media content to members, the same way they send out audio CD`s and copies of the `Behind the Curtain` news from the meetings if you can`t attend.

REIN offers all the tools, regardless of your level of experience, and it`s up to you to take them and run with it.
 

housingrental

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Rein is expensive
It`s a good system though it offers some, it won`t provide you enough information to do a good job managing your properties.
 

Zee1960

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Well Joe, welcome to REIN!I have been a member since April 2006, and am an active real estate investor.

Most of my properties were actually bought before joining REIN – (so that`s what I think about the cost of REIN and its value).


You WILL NOT find another group like REIN. It is a nation wide "network of like minded people"
. It is NOT
just another Real Estate network group. It has a huge scope. It is not about "Don Campbell" (sorry Don) or about the company itself. REIN is the people.

Yes the focus is Real Estate investing, along with, access to fundamental studies, education on managing your business and your tenants, taxation legalities, accounting matters, joint ventures, legal material, different financing strategies, understanding why you need optimal strategies so your portfolio is ready to handle future mortgage needs etc.



Do you need more?



OK then…there is also a personal growth component to REIN; training and education on the "Power of Focus", lessons on what our time is worth, learning`s on the value of self-esteem, etc. etc. etc.



Need more?

NETWORKING!


I think I have to quote you in a sense when I say, "IN MY OPINION
", REIN is a network of like minded individuals, who "cater" "predominately" to active real estate investors, "so we are not the cheapest on the block."

Saying this, REIN actually caters to every level of real estate investors. We all start with one property. There are people at REIN who have not bought their first property and there are people who own over 200 … and Joe, you wouldn`t know how many the person next to you has until you get into a conversation. Everyone is down to earth, and willing to help everyone. I find there is no status. Within the group there is a lot of mentoring – it`s unbelievable!



You are surrounded by people who really want to make a difference the lives of others though Real Estate. You are surrounded by some of the best.



Really you said it, you new before you even posted. "It`s all about the quality of product and service."




Welcome to REIN!



~ maria
 

JoefromTO

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Wow, thanks for all the replies. Well, for now I`ll finish reading his first book. One step at a time right?
 

invst4profit

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Looking from the outside in (only a forum member) the biggest shortfall as I see it the group is not really hard hitting enough when it comes to judging some potential member purchases, problems etc.. I see many adds on here in the member section with properties for sale stating positive cash flow, great return etc. that clearly look like terrible deals. I have never seen any followup posts questioning the numbers but maybe it is just not visible to me as a non REIN member. I personally would like to see a "analyze my deal" section where members and non members can really get to the meat of the matter but that may be too American in nature. Again maybe it is just not visible to me as a non member.
Also some questions regarding tenant problems often get supportive responses when what really is required is a 2X4.
Maybe it is the Canadian way to congratulate rather than criticize.
Otherwise a good group if you can attend the meetings.
 

DonCampbell

Investor, Analyst, Author, Philanthropist
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QUOTE (housingrental @ Oct 1 2008, 10:49 AM) Rein is expensive
It`s a good system though it offers some, it won`t provide you enough information to do a good job managing your properties.

Hey Adam,

The good news about management is that we have upgraded that portion of Quickstart AND even better news is that there is a whole upcoming series on Pro-Active landlording. Sounds to me like you`re having issues managing your properties, the REIN team has the expertise and that is why we offer the service of supporting members with their own issues. So I recommend that you send in your questions, or book a time with one of the REIN Team experts, or ask, ask, ask until you get the answers you want.

Members who are pro-active in their management always do better over the long term.

Trust that helps you with your management issue.
 

PaulPoulsen

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Sep 23, 2007
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Hey Joe;

REIN reminds me a lot of the description of your family`s shop:

"My family owns a collision facility that caters to pridominantly higher end vehicles, so we`re not the cheapest on the block. I`m used to dealing with owners of high end cars like Mercedes, Jaguars, Porsche and Ferrari`s and have become somewhat anal in what I expect from my staff. It`s all about the quality of product and service."

[*]REIN`s not the cheapest on the block but, I`d imagine, just like your repair shop, you get what you pay for[*]Don, Russell et al are also very particular in how they expect members to do business and are very picky in choosing guest speakers and material to share with membersREIN is totally about the quality of product and serviceAs for what to expect at a REIN meeting, it`s not a college course and it`s really what you make of it. You sound like the type of person that`d really appreciate what REIN has to offer. You already have a basic understanding of real estate as an investment. Yes, REIN updates you on all kinds of real estate/economic news but they also show you where to look for answers on your own.

REIN`s awesome but it`s very much what you make of it.
 

JoefromTO

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On another thread, someone commented that you WANT to have as big a mortgage as possible. Is this one of the strategies that is taught with the ACRE system? I thought it was wise to work towards paying off your mortgage. I mean, isn`t that safer than if you run into a bad recesion and still owe a big mortgage, couldnt that jeopardize your investment?

My thoughts have been that in order to feel that you have accomplished something, you need to work towards owning your properties free and clear at some point. If I`m mistaken, then I would love to understand why I would want to increase my risk by NOT paying off the mortgage.

Cashflow is definitely nice, but the fear is that it may not last if the economy turns.

I`m just commenting on a remark from one of my other comments on a different thread.
 

PaulPoulsen

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QUOTE (JoefromTO @ Oct 1 2008, 02:57 PM) On another thread, someone commented that you WANT to have as big a mortgage as possible. Is this one of the strategies that is taught with the ACRE system? I thought it was wise to work towards paying off your mortgage. I mean, isn`t that safer than if you run into a bad recesion and still owe a big mortgage, couldnt that jeopardize your investment?

My thoughts have been that in order to feel that you have accomplished something, you need to work towards owning your properties free and clear at some point. If I`m mistaken, then I would love to understand why I would want to increase my risk by NOT paying off the mortgage.

Cashflow is definitely nice, but the fear is that it may not last if the economy turns.

I`m just commenting on a remark from one of my other comments on a different thread.

I don`t know that I`d want as big a mortgage as possible but paying off a mortgage isn`t a priority for me. Instead of using my hard cash to pay down a debt, I`d sooner use that money to buy another property.

That said, I don`t think there`s anything wrong with paying off a mortgage (or paying it down) and enjoying the cashflow it creates regardless of ups or downs in the market.

What it all boils down to is doing what lets you sleep at night and how aggressively you want to invest.

Again, these are all things that are discussed at length between members and at meetings.
 

housingrental

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Thanks Don and good to read you`re adding more on this soon. I don`t need help managing, though I like to think I`m always learning something new. I manage other people`s properties. Maybe I have a biased prospective but its seems like there`s lots of in depth information presented on everything but this and it`s one of the most important things.. often determing whether you collect 90% or 100% of expected rent, keep your tenants happy, add value to your properties, get an LTB judgemtn against you, etc...

QUOTE (DonCampbell @ Oct 1 2008, 04:08 PM) Hey Adam,

The good news about management is that we have upgraded that portion of Quickstart AND even better news is that there is a whole upcoming series on Pro-Active landlording. Sounds to me like you`re having issues managing your properties, the REIN team has the expertise and that is why we offer the service of supporting members with their own issues. So I recommend that you send in your questions, or book a time with one of the REIN Team experts, or ask, ask, ask until you get the answers you want.

Members who are pro-active in their management always do better over the long term.

Trust that helps you with your management issue.
 
I

IanSzabo

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Guest
Joe From To, Six Months ago a thought that $200 a month was a lot to spend, Now I would glady pay double that for Rein`s Services<Don`t Tell Don> I owned two properties when I started, Now I own Seven. I wanted to join two years ago, but I thought I would just sit on the fence. Do the math, If you are willing to listen & are a driven person, the info you get will take you to the next level. I would be happy to talk to you about Rein
647-333-7182
Thanks Ian
 

Dan_Eisenhauer

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Joe, as has been mentioned in this thread, this subject has been discussed in depth, several times.
I like the comparison one of the contributors to this thread made between your automobile repair business and REIN. That is a great comparison. IMHO, REIN is not expensive. It is an investment in your future... and a relatively inexpensive investment in your future. It is a great value to those who see it.

Not everyone sees the value in driving a "Mercedes". But many do. Not everyone will see the value of a REIN membership. But, there are many REIN members who swear by their REIN membership, and who do not consider it expensive. (You can recoop that investment with one deal.)

You asked if newbies have gone from "zero to 100" using the ACRE system. I can`t answer that. I can say that I have had a long and extensive real estate career... in various segments of the industry over the years. I can say, without one word of hesitation, that REIN is the best real estate organization I have come across. It is designed for the beginner, but it has to cater to those of us who have more experience, as well. The knowledge, systems, and support are without equal, IF
you make use of them.
 

JoefromTO

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I want to thank everyone for taking the time to address my concerns, plus also for reaching out and offering support.

I`m impressed to say the least.

Once I finished reading Don`s first book, which I`m taking my time with, my intention is to purchase the quick start home study kit.

However, does becoming a member provide this kit?
 

RArora

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May 12, 2008
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Hi Joe

If you join REIN the Quickstart is given as part of it as a Bonus, along with the Top 10 Town lists.
 

writeabooknow

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Hi Joe!



As you read the replies to this post, you`re witnessing one of the great strengths of the membership: the sheer volume of useable information from people who have done it, are doing it and will share their discoveries.



There is an abundance of information at the monthly meetings, or their CD substitutes, the programs for sale, and the REIN myspace website. But remember that those monthly meetings are peopled by folks who have all the information you need to solve virtually any problem or challenge you`re having.



Go to those meetings with specific questions in mind and before the meeting begins, or during breaks, ask the people at all the tables or in conversational knots, if anyone can help you sort out the intricacies of RSP Second mortgages, or decide between new carpet or laminate flooring, or whatever. But you`ve got to ask. The really big failing of REIN is that no one seems to be clairvoyant! You`ve got to ask. No one is going to walk up to you and say, "You look like you`re at a loss about joint venture acquisition strategies. Can I help?"



Go the meetings with specific questions in mind then make it your objective to hunt down the person who can give you all the information you need in that area to succeed. And remember to be appreciative. (Find other new members and ask what challenges they`re having, then point them to the people who can help.)



Cheers,



Steve Manning
 

TommyK

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May 26, 2008
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I am a relatively new member since Calgary Quickstart in June. All I can say is that I wish I had known the system a couple years ago when my mother decided to sell one of our properties. I wish I had the knowledge to utilize the profits and invest in properties based on REIN`s system. Well, the let the past be passed. I am now focusing on my 2nd purchase. This time I am confident that I am buying "smart."

Yes, I struggled with the membership fees, but the networking, myspaceforum and monthly meetings have really rewarded me intrinsically
. In terms of extrinsic rewards
, this is where I have to take my own action to taste the result! I can`t count on someone else to take the action for me (although sometimes it is easier just by investing paper assets, the fluctuation in market uncertainty outweighs the potential gain that I am looking for).

One thing I did notice is that even for non-REIN members who are asking questions under General/Real Estate forum, some of the REIN members have been extremely helpful.


Regards,
Tommy
 
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