Young RE Investors
- Thread starter princecharles
- Start date
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- Sep 25, 2008
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I am a new investor, and i think i`m still young!
I joined REIN late last year and since then have dedicated myself completely to developing my system, researching markets, and most importantly, developing an amazing network of people. Obviously there were many times when I was (an still am) intimidated to ask simple questions. With this in mind, and through my networking, I have organized a group of about 7-10 novice investors that will be meeting once/month just to talk about Real Estate. I am hoping this will be a casual atmosphere where we can discuss basic things like
-what is a matrix mortgage?
-turning bad debt into good debt
-people`s experiences (good and bad) in purching their first (or otherwise) property
Anyway, not sure where you are located, however we will be meeting in a local coffee shop in downtown vancouver. If you are interested, let me know. Otherwise I am still interested in communicating via email.
I joined REIN late last year and since then have dedicated myself completely to developing my system, researching markets, and most importantly, developing an amazing network of people. Obviously there were many times when I was (an still am) intimidated to ask simple questions. With this in mind, and through my networking, I have organized a group of about 7-10 novice investors that will be meeting once/month just to talk about Real Estate. I am hoping this will be a casual atmosphere where we can discuss basic things like
-what is a matrix mortgage?
-turning bad debt into good debt
-people`s experiences (good and bad) in purching their first (or otherwise) property
Anyway, not sure where you are located, however we will be meeting in a local coffee shop in downtown vancouver. If you are interested, let me know. Otherwise I am still interested in communicating via email.
- Joined
- Oct 10, 2007
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What area in Ontario?
QUOTE (Bottlejack @ Jan 25 2009, 11:58 PM) Hi I am in Ontario and looking to talk to people that are investing here.. any investors looking to do the same and would like to chat drop me an email.. [email protected]
Eric
QUOTE (Bottlejack @ Jan 25 2009, 11:58 PM) Hi I am in Ontario and looking to talk to people that are investing here.. any investors looking to do the same and would like to chat drop me an email.. [email protected]
Eric
QUOTE (spark1 @ Jan 18 2009, 08:40 PM)
toronto is here. Hunting for my second property. First has three units. Great idea to chat!
drop me a line at [email protected]
currently looking for a property in Hamilton
also looking for a good mortgage broker that knows the REIN system
toronto is here. Hunting for my second property. First has three units. Great idea to chat!
drop me a line at [email protected]
currently looking for a property in Hamilton
also looking for a good mortgage broker that knows the REIN system
- Joined
- Oct 29, 2008
- Messages
- 19
QUOTE (housingrental @ Jan 26 2009, 08:24 PM) What area in Ontario?
South western.. London, Sarnia..
South western.. London, Sarnia..
R
RussellWestcott
Guest
Guest
Great thread everyone... I`m glad this one has gained some traction. Sound like there are some keen investors across Canada looking to take control of your financial futures. I imagine there are many people on this forum saying "if I only knew then what I know now..."Congratulations to each of you for getting such a good jump on everyone else in your age group, the actions you take now will pay huge dividends later in life.
I remember when I got started and what it was like to be a young (in age) Real Estate investor, there are plenty of lessons to share. Although I was not quite as young as some of you have indicated... many of us take a similar journey.
I have an idea
Sounds like many of you are spread out across the country and to each and everyone of you to get together for a `coffee` will be very difficult. I know some very successful `young gun` Real Estate investors... and would it be of interest if I get a few of them on a conference call to discuss some of the specific challenges you may be having.
Need a couple of things from people following this thread.
Please answer with a reply and some comments
1- Would you find this beneficial if I interviewed a few young Real Estate investors on a conference call and find some some key insights from this younger aged investors?
2- What specific questions would you like asked (i.e. what are your specific challenges you are experiencing) of these young Real Estate experts?
Bottom line
please respond to this thread with
- Would this be beneficial?
- What are your specific challenges you would like addressed?
Looking forward to seeing your responses...
I remember when I got started and what it was like to be a young (in age) Real Estate investor, there are plenty of lessons to share. Although I was not quite as young as some of you have indicated... many of us take a similar journey.
I have an idea
Sounds like many of you are spread out across the country and to each and everyone of you to get together for a `coffee` will be very difficult. I know some very successful `young gun` Real Estate investors... and would it be of interest if I get a few of them on a conference call to discuss some of the specific challenges you may be having.
Need a couple of things from people following this thread.
Please answer with a reply and some comments
1- Would you find this beneficial if I interviewed a few young Real Estate investors on a conference call and find some some key insights from this younger aged investors?
2- What specific questions would you like asked (i.e. what are your specific challenges you are experiencing) of these young Real Estate experts?
Bottom line
please respond to this thread with
- Would this be beneficial?
- What are your specific challenges you would like addressed?
Looking forward to seeing your responses...
I think that this would be a great idea!! Last year I bought my three properties and now I am stuck. I have no more of my own capital to invest and I am having trouble finding JV partners, and because I just bought my properties I have equity in them to take out. And my husband and I just bought our personal residence so we have no equity in it either. So how about a question about how to over come this type of road block.
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- Nov 26, 2008
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- 61
QUOTE (ronda @ Jan 26 2009, 10:31 PM) I think that this would be a great idea!! Last year I bought my three properties and now I am stuck. I have no more of my own capital to invest and I am having trouble finding JV partners, and because I just bought my properties I have equity in them to take out. And my husband and I just bought our personal residence so we have no equity in it either. So how about a question about how to over come this type of road block.
your best bet would be to chat with thomasbeyer2000http://http://www.myreinspace.com/forums/index.php?s=&act=profile&CODE=friends_list_popup#, as he knows his stuff, and has great experince! especailly with JV`s!
your best bet would be to chat with thomasbeyer2000http://http://www.myreinspace.com/forums/index.php?s=&act=profile&CODE=friends_list_popup#, as he knows his stuff, and has great experince! especailly with JV`s!
- Joined
- Sep 14, 2007
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Hi Russell,
I think that`s a great idea. Questions that I`d ask a young RE investor are:
1. How did you convince your conservative parents, your conservative "older" family and their conservative friends that investing in Real Estate would be a smart investment.
2. What methods did you use to attract JV partners to you? Were you looking at a specific demographic? What tools did you use?
3. How did you overcome potentially losing some friends that may have become jealous of you as you increased your net worth and attracted more positive people and influences into your life?
4. Are you married and do you have kids and did your real estate investment decisions contribute to when you may have kids?
Thanks
I think that`s a great idea. Questions that I`d ask a young RE investor are:
1. How did you convince your conservative parents, your conservative "older" family and their conservative friends that investing in Real Estate would be a smart investment.
2. What methods did you use to attract JV partners to you? Were you looking at a specific demographic? What tools did you use?
3. How did you overcome potentially losing some friends that may have become jealous of you as you increased your net worth and attracted more positive people and influences into your life?
4. Are you married and do you have kids and did your real estate investment decisions contribute to when you may have kids?
Thanks
- Joined
- Jun 9, 2008
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- 124
Hey Russell, thats an excellent idea!
Q: Can young people be on title of each property if they can`t qualify for a mortgage? Should they? What are the benefits?
Also, what are some specific strategies and steps used to acquire more properties (besides JV) when money runs out?
Q: Can young people be on title of each property if they can`t qualify for a mortgage? Should they? What are the benefits?
Also, what are some specific strategies and steps used to acquire more properties (besides JV) when money runs out?
- Joined
- Oct 10, 2007
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Any interest in KW by any chance ?
QUOTE (Bottlejack @ Jan 26 2009, 10:06 PM) South western.. London, Sarnia..
QUOTE (Bottlejack @ Jan 26 2009, 10:06 PM) South western.. London, Sarnia..
- Joined
- Apr 16, 2008
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- 331
Russell,
A conference call that focusses on successful young real estate investors is an outstanding idea.
As a young real estate investor myself, on this call I would like to learn how these other young investors attracted JV money. How did they prove themselves to potential JV partners at a young age and with a limited track record? Also, what other strategies did these young investors incorporate other than money from JV partners. (VTB mortgages, private mortgages, etc.)
Best Regards,
Neil.
A conference call that focusses on successful young real estate investors is an outstanding idea.
As a young real estate investor myself, on this call I would like to learn how these other young investors attracted JV money. How did they prove themselves to potential JV partners at a young age and with a limited track record? Also, what other strategies did these young investors incorporate other than money from JV partners. (VTB mortgages, private mortgages, etc.)
Best Regards,
Neil.
- Joined
- Nov 21, 2007
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- 51
QUOTE (Lermy @ Jan 27 2009, 08:32 AM) Q`s: How did they attract JV money with little experience? Did they have a full time job or were they self employed? If self employed, any suggestions with working with banks?
Hey Russell,
Sounds like an excellent idea. I`m most definitely interested. I don`t have specific questions, but obviously would love to hear focus on
a) JV`s as most young investors dont have the money to continually purchase out of their own pocket... I`d be surprised if many of us mid-twenties would be able to even afford our second down-payment that way.
b) Overcoming the fact that they`re young. The list of roadblocks as a young investor is as long as the list of benefits, what was the tipping point for them when older investors began trusting them with their money, and what was it that caused that tipping point?
Keep us informed, sounds really interesting!
Chris
Hey Russell,
Sounds like an excellent idea. I`m most definitely interested. I don`t have specific questions, but obviously would love to hear focus on
a) JV`s as most young investors dont have the money to continually purchase out of their own pocket... I`d be surprised if many of us mid-twenties would be able to even afford our second down-payment that way.
b) Overcoming the fact that they`re young. The list of roadblocks as a young investor is as long as the list of benefits, what was the tipping point for them when older investors began trusting them with their money, and what was it that caused that tipping point?
Keep us informed, sounds really interesting!
Chris
- Joined
- Feb 27, 2008
- Messages
- 104
Awesome idea,there are so many roadblocks i am facing and would be more than willing to share these,amilny the joint venture partners-how to attract them with no experience and gaining trust from these individuals especially if they are not family.
- Joined
- Oct 10, 2007
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- 4,733
Proof of past successful projects
QUOTE (Thembi @ Jan 29 2009, 05:47 AM) Awesome idea,there are so many roadblocks i am facing and would be more than willing to share these,amilny the joint venture partners-how to attract them with no experience and gaining trust from these individuals especially if they are not family.
QUOTE (Thembi @ Jan 29 2009, 05:47 AM) Awesome idea,there are so many roadblocks i am facing and would be more than willing to share these,amilny the joint venture partners-how to attract them with no experience and gaining trust from these individuals especially if they are not family.
- Joined
- Sep 14, 2008
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- 392
Great idea, Russell.
Questions: (aside from those above)
1. Creative (but legal, haha) strategies for financing?
2. Views on making money through RE (e.g. flips, sandwich leasing, wholesaling, etc.) so that I can buy my own RE.
3. Advantages of being a young RE investor instead of old? (e.g. facebook connecting, different ways of thinking or something...I don`t really have examples, hence the question)
Hey Russell, while I have your attention...
1. Any chance of starting up a REIN mentor program? Volunteer-based, pairing up an experienced investor with a young one?
2. Can you get Don to write a book like the ACRE one for teenagers? Basically targeting highschool kids with a financial paradigm shift idea, using real estate examples... ("Don`t buy the Ipod, buy the duplex" haha) e.g. I tried investing in the stock market when I was 12 but my parents found out (when I needed their signature) and wouldn`t let me, and because I had no support at all, I did little with money until 10 yrs. later, but a book like the above would`ve given me some guidance and maybe even gotten my parents on board--then I`d be the rich guy writing a REIN book for kids right now!
Questions: (aside from those above)
1. Creative (but legal, haha) strategies for financing?
2. Views on making money through RE (e.g. flips, sandwich leasing, wholesaling, etc.) so that I can buy my own RE.
3. Advantages of being a young RE investor instead of old? (e.g. facebook connecting, different ways of thinking or something...I don`t really have examples, hence the question)
Hey Russell, while I have your attention...
1. Any chance of starting up a REIN mentor program? Volunteer-based, pairing up an experienced investor with a young one?
2. Can you get Don to write a book like the ACRE one for teenagers? Basically targeting highschool kids with a financial paradigm shift idea, using real estate examples... ("Don`t buy the Ipod, buy the duplex" haha) e.g. I tried investing in the stock market when I was 12 but my parents found out (when I needed their signature) and wouldn`t let me, and because I had no support at all, I did little with money until 10 yrs. later, but a book like the above would`ve given me some guidance and maybe even gotten my parents on board--then I`d be the rich guy writing a REIN book for kids right now!
Hey Russell, I`m interested in listening in on this conference call, its a great idea. The biggest hurtle im trying to overcome is accuring a new source of JV funds outside of my family.
Specific question would be related to the courting process. I know you recommend just talking about RE all the time to everyone but at what point do you lay it out that your looking for a partner with money. Do you wait for some statement of interest or do you specifically direct someone towards a place where they can find more info. Then what?
My next question is where they learned to pitch the deal? and just to hear their stories of their first 4 houses.
Cheers,
Ryan
Specific question would be related to the courting process. I know you recommend just talking about RE all the time to everyone but at what point do you lay it out that your looking for a partner with money. Do you wait for some statement of interest or do you specifically direct someone towards a place where they can find more info. Then what?
My next question is where they learned to pitch the deal? and just to hear their stories of their first 4 houses.
Cheers,
Ryan