Rein Multifamily silver on the way to gold

CorySperle

Senior Forum Member
REIN Member
Sep 1, 2010
617
325
63
Edmonton
#1
I just wanted to share a very up/down year of 2016. I managed to purchase two multi family buildings in 2016 acquiring 5 since joining REIN in 2010 (6 altogether) to qualify for the silver pin. This is a big year in which I have gone from novice to journeyman with what was thrown at me this year. There was much skepticism and stress due to the downturn, and like many were forced to make tough choices to attract and retain tenants in this terrible market. It is never easy to turn over units, lose money to vacancies and renovations, only to rent for a lower amount however it has forced me to operate much leaner, and I picked up many things this year than all previous years combined. The online community here has contributed greatly to this experience and I am most thankful for that. Above all else I remain optimistic that this is still only the beginning, and after being at this for almost 17 years am finally getting some traction and looking forward to continuing this journey for many years to come. Happy new year to everyone, and a peaceful and prosperous 2017!
 

Marnie

Frequent Forum Member
Staff member
REIN Member
Oct 6, 2016
371
130
43
45
#3
I just wanted to share a very up/down year of 2016. I managed to purchase two multi family buildings in 2016 acquiring 5 since joining REIN in 2010 (6 altogether) to qualify for the silver pin. This is a big year in which I have gone from novice to journeyman with what was thrown at me this year. There was much skepticism and stress due to the downturn, and like many were forced to make tough choices to attract and retain tenants in this terrible market. It is never easy to turn over units, lose money to vacancies and renovations, only to rent for a lower amount however it has forced me to operate much leaner, and I picked up many things this year than all previous years combined. The online community here has contributed greatly to this experience and I am most thankful for that. Above all else I remain optimistic that this is still only the beginning, and after being at this for almost 17 years am finally getting some traction and looking forward to continuing this journey for many years to come. Happy new year to everyone, and a peaceful and prosperous 2017!
Congratulations on your successes and experiences Cory!
 

CorySperle

Senior Forum Member
REIN Member
Sep 1, 2010
617
325
63
Edmonton
#4
Danke Shon Herr Beyer. After investing in them directly for 12 years, 6 buildings since 2008, all it took was mentoring under several professionals, building a winning team, combing through hundreds of listed and unlisted projects, writing dozens of offers, viewing hundreds of suites, and negotiating the best deal possible, and putting in hundreds of hours of my time for free for a large payoff down the road. Piece of cake
 

trevismcconaghy

Trevis McConaghy, REIA
REIN Member
Nov 11, 2012
72
69
18
41
Melfort, Sask
#6
Great to hear Cory! I am targetting a pin in the multi family works as well. If I recall, I think one of your new properties is next to a friend of mine in Saskatoon. I am like you in that I took possession of my first rental home many years ago (16 years ago this month.) Until I got the right mindset and the right systems, I moved at a snails pace. Once I decided I wanted to grow my knowledge, my network and make real estate my career, it is amazing what has happened. There are always struggles along the way, but when you come out the other end, it feels all the better. All the best in 2017 to you and fellow readers. Trevis
 
Likes: CorySperle