IS REIN worth it for me

[Thembi]

I am in a state of confusion right now about enrolling with rein,i have read some testimonials and i do realise that this will be a major breakthru for me financially and i will learn lots but am doubting if it will help in my particular situation.Reason i say this is:
I bought my first residential property in January and decided to rent it out so i could save some money,i do not get any cash flow from this,the rent basically covers the mortgage payments and taxes.I only have about 4k of savings,nothing on my rrsp`s since i used it as down payment.I probably have negative equity on my house since the prices have dropped a bit from the time i bought.I spoke to my mortgage broker about getting a second mortgage for rental property and she told me i needed at least 10% down.In as much as i would love do be a rein member and get tips on buying property i have no money to do this,My question to you all is,should i wait and save the money i would use for the membership to accumulate more money for downpayment or just join and pray some miracle will happen and will buy a property with zero down.What is ur take on this,was anyone in debt when they joined rein?i feel i should pay off and save a bit before i can afford to spend on the membership.I would realy appreciate some advice on how most of you did it.I feel some were in a better financial position to start with.Thanks for all ur honest responses and excuse my lengthy question.

 

[RedlineBrett]

Excellent question, and one I feel many pre-REIN people ask themselves before dropping the $$ needed for the fee.

Without a lot of BS, here is why you need to find the money to join:

Success in real estate takes hard work, knowledge and money. My personal feelings are that if you have two of the pieces you can leverage them into the third. If your problem is not having any money then you need to have the knowledge and the work ethic to attract it to your business. REIN membership will provide you with the knowledge you need. They have systems for everything and the other members have experience they are willing to impart on rookies. Membership will also motivate you and get you to find an extra gear within yourself to work at it but you need to have the work ethic to be truly successful.


I would recommend you start with a book, then do a quickstart and then think about membership and ease your way into the cost.

Book: I am in a state of confusion right now about enrolling with rein,i have read some testimonials and i do realise that this will be a major breakthru for me financially and i will learn lots but am doubting if it will help in my particular situation.Reason i say this is:
I bought my first residential property in January and decided to rent it out so i could save some money,i do not get any cash flow from this,the rent basically covers the mortgage payments and taxes.I only have about 4k of savings,nothing on my rrsp`s since i used it as down payment.I probably have negative equity on my house since the prices have dropped a bit from the time i bought.I spoke to my mortgage broker about getting a second mortgage for rental property and she told me i needed at least 10% down.In as much as i would love do be a rein member and get tips on buying property i have no money to do this,My question to you all is,should i wait and save the money i would use for the membership to accumulate more money for downpayment or just join and pray some miracle will happen and will buy a property with zero down.What is ur take on this,was anyone in debt when they joined rein?i feel i should pay off and save a bit before i can afford to spend on the membership.I would realy appreciate some advice on how most of you did it.I feel some were in a better financial position to start with.Thanks for all ur honest responses and excuse my lengthy question.

 

[Thembi]

Thanks a lot redline,will get book asap and go from there,also to attend quickstart program shouldnt i be a member of rein?Will continue reading coz i definitely have the will and am a hard worker,just no money yet.

 

[RedlineBrett]

You don`t have to be a member to attend a quickstart, although if you are a member you can attend quickstart for free!

QUOTE (Thembi @ Aug 13 2008, 12:02 PM) Thanks a lot redline,will get book asap and go from there,also to attend quickstart program shouldnt i be a member of rein?Will continue reading coz i definitely have the will and am a hard worker,just no money yet.

 

[DanBarton]

I have to say, when I was faced with the opportunity to join I also could not comprehend how I would make these monthly payments - However I knew it was something that I needed to do.

I must say it worked out and somehow I made those payments happen and I`m still a REIN member over 3 years later and not stopping any time soon...

Hope that helps!
Dan

 

[GarthChapman]

QUOTE (RedlineBrett @ Aug 13 2008, 11:09 AM) You don`t have to be a member to attend a quickstart, although if you are a member you can attend quickstart for free!


As I remember it, you can pay to attend Quickstart and then have that cost applied against your REIN membership if you decide to join REIN during the Quickstart event. And from then on, as a member, all the Quickstarts all across the country are free.

 

[Thembi]

Thanks everybody for the responses,i guess based on those it is clear to me that the membership will pay for itself in the long run,i have decided to attend the western conference this weekend(if i can get a seat,will buy my ticket this afternoon) and will go from there.I appreciate all the help..