QUOTE (EffectiveResume @ Jan 28 2009, 04:58 PM) Hi - I am seriously considering REIN membership and would very much like to speak to like-minded REIN Members. I am not sure if I should opt for the By-Mail membership or take the full membership.
In all honesty, cashflow is bit of a problem for me and while I think I can manage the full memebrship I want to make sure it really is worth it.
Can someone you has joined say in the last year or two contact me? You can email me and I will call or I can provide my contact details.
I really want to know how you have used REIN memebrship to `evolve` further in the world of real-estate ownership, etc.
Much appreciated.
ER
Hello ER,
I will try to be as objective as I can about benefits of REIN membership. My wife and I were REIN members for 17 months. Once our initial contract with REIN expired, we did not extend it primarily for my health reasons. Fortunately, that issue is behind, and I am also intending to re-join. So I will share my experience with you:
1) Cutting Edge research - absolutely, you will be able to get more information than you know what to do with. The good part is that in booming economy or in a crisis like right now, you will be given the information you need to have whether you invest in Alberta, Ontario, etc. Top 10 town reports with constnat updates are very valuable. You will also be provided the timing - when to buy, sell, etc. This is what I found the top benefit (again, it is just me. You might find someting different.)
2) Real Estate strategies - you will learn a lot of very useful information starting from Quickstart, and then going into Joint Venture secrets, best landlording practices, financing tricks of the trade with updates from Peter Kinch, etc. I think though REIN team tends to spend too much time talking about buying appreciable properties with extremely low cash flow. Maybe they changed it now - I don`t know. I took other real estate training before coming to REIN, and I think there is a variety of other strategies in Real Estate that do not get muh coverage in REIN meetings.
3) Networking - many responders indicate this one as a very important benefit. I would agree provided that you are comfortable in a room with 500+ people, and your networking skills are strong enough that you can find the way to approach people conversing with whom will be mutually beneficial. In my tenure with REIN, I found that during short windows of opportunity to talk to people, the most knowledgable and successful investors (and you will know very quickly who they are) have line-ups around them, and cannot spend much time with you. There are many people who are in the beginning of their Real Estate journey and have more questions then answers. Frankly, I find this on-line forum much more efficient at sharing knowledge, opinions, etc. than a REIN meeting.
4) Finding a Joint Venture Partner - again, if you are good at working the crowd, perhaps. Otherwise, if you quickly become a star and will be able to walk to the microphone and offer good deals to the room, maybe some will come talk to you. Generally, there are a lot more people in the room who, like you, don`t have the money to invest, and would like to find somebody who would invest with them.
5) Speakers - they range from Accountants and Lawyers to Life Coaches and Olympic champions. I like self-improvement, so this is not wasted on me. Some people don`t like it though. You know which one you are.
6) Mentorship - in REIN content it is the same as Networking. REIN does not really provide mentors, who will meet with you once per month to review your progress. It is left up to you to find your own mentor, and make your own arrangements.
7) Cost - well, weather $200/month is too expensive or not really depends on your budget. REIN team does its best to ensure you get your money`s worth, but as in all cases in life, some people inevitably end up doing better in any particular environment than others. REIN is no exception. There are stories here on-line from people who found these settings a perfect fit, and they are doing extremely well, whereas others seem to be struggling. Not because they are lazy or stupid, but because they have their limitations, and it will take them longer to reach the critical mass point.
In summary, REIN information is very useful, and I personally continue using it in my property acquisitions, management, joint venture presentations, etc. If you feel ready - don`t think twice. However, if this sounds overwhelming, then perhaps start by reading Don Campbell`s books and attending a Quickstart program.
Hope this helps.
