Same Face I had before I knew about Investing

[NassirNathoo]

Hi REIN Friends,

I am not an expert but i am sure now that i am above before i joined REIN. I have been telling friends at work, talking to family to invite them to come to ACRE program on Apri 17.
Some people that received the email said thanks and that is it.
Some ask the question that "the hard part is how you manage all these mortgages" etc...
This particular person gave me the face that reminds me my face when i was intimidated when talking about REIN.
This year, i have been telling family members that are renting in Vaughan area and sharing the bus tour experience we have in 2008 that we keep an eye on fundamentals if you leave them.
Answer from bother in law was the market will crash, the market will follow US, it is bad time, interest rate will go up, people will go down.
Boom, during this time, i told him that i bought my second duplex up and down bangalow in brampton. Guess what, I got the same face where it will crash. the property was listed for 299k and purchased for 287k.

I just want to share that it is part of learning. Do it at your pace. Learn but do not ignore to learn. Since i join i am taking my pace, this is my 2 duplex in 2 years and i wanted 1 every year if i can. But for me ZERO was not accepted. ZERO was for me better to not get involved with REIN. I wanted a change. REIN has given me training and knowledge that I can jump in real estate conversation.

Anyway, hope to see you at the APRIL 17!

 

[housingrental]

Congratulations Nassir!
Good luck on number 3 next year

 

[lilbuffet]

QUOTE (housingrental @ Apr 10 2010, 10:11 AM) Congratulations Nassir!
Good luck on number 3 next year

some people are not willing to learn and not taking action or trying new things is the easiest road to mediocrity, which seems like most ppl are content with yet they complain about their finances!

 

[invst4profit]

Talking to people about risking there life savings on investing in real estate is like talking religion to some people. A controversial subject best avoided.

 

[Nir]

QUOTE (invst4profit @ Apr 10 2010, 11:45 AM) Talking to people about risking there life savings on investing in real estate is like talking religion to some people. A controversial subject best avoided.

very true. people`s fear is also explained by cognitive dissonance: the more money people save and the more time they let it sit in the bank doing nothing with it, the more afraid they will be to suddenly do something with it like invest in RE.
That`s one of the reasons why a retired person is much less likely to invest with you than a younger person even if they saved the same amount.

 

[invst4profit]

That is probably why I lost so much money when I was young in foolish investments.

Remember the pyramid schemes.

 

[EdRenkema]

QUOTE (investmart @ Apr 10 2010, 12:57 PM) very true. people`s fear is also explained by cognitive dissonance: the more money people save and the more time they let it sit in the bank doing nothing with it, the more afraid they will be to suddenly do something with it like invest in RE.
That`s one of the reasons why a retired person is much less likely to invest with you than a younger person even if they saved the same amount.

Very true statement.
But saving money is not realizing what money means. Dollars in the bank are simply currency, nothing more. Money itself is a concept. People who focus on saving are focusing on the accumulation strategy and what they are accumulating is a currency that will become devalued via inflation.
Money is a tool in the business of creating wealth through hard assets that incur cashflow.
But how to convey that idea to the average person who is indoctrinated in the philosophy of a dollar saved is a dollar earned... that is the real challenge.

 

[invst4profit]

There is a great deal of security for many people in having cash. Especially for those that do not have a lot.

Risk takers are generally the biggest winners and the biggest losers in life.

Investing in real estate has risks like any investment. The reality is if someone is not in a position to risk losing there entire investment I would not try to convince them to invest.

 

[housingrental]

Yes but bonds and many income producing financial products often meet this need with no risk or hasstle. Money in back account = safety + potential to seize opportunity when it presents it self.

Cash is an under-rated investment on this forum.

Security of pricinipal and liquidity matters!
QUOTE (EdRenkema @ Apr 10 2010, 09:58 PM) Very true statement.
But saving money is not realizing what money means. Dollars in the bank are simply currency, nothing more. Money itself is a concept. People who focus on saving are focusing on the accumulation strategy and what they are accumulating is a currency that will become devalued via inflation.
Money is a tool in the business of creating wealth through hard assets that incur cashflow.
But how to convey that idea to the average person who is indoctrinated in the philosophy of a dollar saved is a dollar earned... that is the real challenge.

 

[JoeRagona]

QUOTE (NassirNathoo @ Apr 9 2010, 07:55 PM) Hi REIN Friends,

I am not an expert but i am sure now that i am above before i joined REIN. I have been telling friends at work, talking to family to invite them to come to ACRE program on Apri 17.
Some people that received the email said thanks and that is it.
Some ask the question that "the hard part is how you manage all these mortgages" etc...
This particular person gave me the face that reminds me my face when i was intimidated when talking about REIN.
This year, i have been telling family members that are renting in Vaughan area and sharing the bus tour experience we have in 2008 that we keep an eye on fundamentals if you leave them.
Answer from bother in law was the market will crash, the market will follow US, it is bad time, interest rate will go up, people will go down.
Boom, during this time, i told him that i bought my second duplex up and down bangalow in brampton. Guess what, I got the same face where it will crash. the property was listed for 299k and purchased for 287k.

I just want to share that it is part of learning. Do it at your pace. Learn but do not ignore to learn. Since i join i am taking my pace, this is my 2 duplex in 2 years and i wanted 1 every year if i can. But for me ZERO was not accepted. ZERO was for me better to not get involved with REIN. I wanted a change. REIN has given me training and knowledge that I can jump in real estate conversation.

Anyway, hope to see you at the APRIL 17!

Let me bring the thread back to this. Nassir, you are doing things right. I also had an `epiphany` after joining REIN and tried to bring along many people - many of them were my first JV presentations. Through that process I learned what you are learning and at the same time have refined my message every time I talk with people.

The comments here that people want to save hard earned money is correct and that they are scared to part with any of it into another `system` of making money.

In my limited experience (about 12 solid months of just JV presentations) I have found that all of them want to hear that one key trigger that will have them trust you with their money. If you try to convince or change someones mind that is not ready to do so, it is in vein. People have to WANT change and ANY change happens in an instant. You and I both did it because in one moment we decided enough was enough and began investing in real estate, joined REIN, read all the books we could....whatever.

Your friends and family will do the same thing if they are the right people for you. Those that do not and continue to dream shoot are filtering themselves out in my opinion which makes it easier to focus on helping those willing to listen to what you have to say.

I`ll be at the REMA booth at ACRES, come by and introduce yourself!