Why join REIN from Montreal?

[LotharBriones]

Hi,



I have been following REIN for a few months now and am interested in becoming a member, but I question the worthiness being a Montreal resident. I recently posted a request for contacts in Montreal and got no replies:



http://myreinspace.com/public_forums/Real_Estate_Discussion/62-23290-REI_contacts_in_Montreal_QC.html



So, I wonder how a REIN membership would allow me to succeed in REI in my area if, as I realized by calling REIN, there is only one "by mail" REIN member in Montreal?



Any convincing reason is greatly appreciated!



Cheers,



Lothar

 

[Thomas Beyer]

[quote user=lotharbriones]I wonder how a REIN membership would allow me to succeed ...Because where you live and where you invest are two different locations.



Let me give you the view on Quebec from "out west" that you may feel is offensive, and I know it doesn't describe every person in Quebec as there are always exceptions:



Quebec is the next Greece, but a great place to live if you have a secure job such as one at a government, or quasi government monopoly at the expense of taxpayers. Taxes are high, deficit is very high, debt very high, 2/3 of kids are born to unmarried couples or single mothers, the degree of unionization is insane, it has rent control, it has very low average incomes, it has in-migration from unproductive countries, the corruption is high, a general welfare attitude is prevalent, plus it voted overwhelmingly NDP in the last federal election .. thus Quebec is NOT a great place to invest.



Quebec's house prices, if it were not in Canada (or if it were to leave, whcih is unlikely) would be 25 - 50% lower.



However, you can invest elsewhere while living in Montreal.



Investing in Quebec: Many REIN principles are universal, such as buy for cash-flow, treat your tenants well, get your finances in order, market your property well, look for areas of in-migration and growth, have a reserve, .. and as such certain pockets in Montreal or Quebec City or Gatineau are probably OK to invest in if you research these areas well enough. However, the overall Quebec debt and government spending is not a great macro-economic environment to invest in.

 

[invst4profit]

For you I would suggest that investing outside of Quebec would be the only reason to join REIN as Thomas has suggested. As a member it would give you contacts in the area you do chose to invest in that you would otherwise not possibly have.



If you are not looking for contacts and do not have the need for a support system to invest outside of Quebec then I see no great value for you to become a member in my opinion. Buy the book it should give you a universal starting point.



Stick around as a forum member for a while and get a feel for the value provided specifically to your situation.

 

[LotharBriones]

Thanks guys. Wow, that was a very gruesome opinion by Mr Bayer, although many of the arguments he pointed out about why not to invest in QC are dead on.



I bought my house two years ago in an emerging neighborhood in Montreal and took advantage of a $100,000 equity rise in two years to buy a 6plex in the island (cap rate of 6.1% which is considered a good deal in the area). I got very excited about analyzing plexes, finding the right deal, being a landlord and forming my team in my city that I want to learn more and invest more using OPM.



Realistically, would a REIN membership give me the contacts & knowledge to invest as a money partner or as a deal (no-money) partner as well. Personal experiences are welcome!



Lothar

 

[JimWhitelaw]

Hi Lothar,



I'd say you can still get some good value from the "by mail" membership, depending on what you're looking for. If your objective is mostly to make new contacts then probably not. On the other hand, if you are wanting to learn and stay informed, then yes I think it could help.



I changed my membership from full to mail (even though I'm in Edmonton) a while back and I think I'm getting a better value. Mail members get full audio recordings of meetings each month and the monthly meetings are not that great for networking anyway. With a full membership, you only get the audio recordings if you miss a meeting.



You might also consider buying the ACRE home study course first and get more insight into the REIN system. Try joining a local RE investors group to help you build some contacts. Check out some of these real estate and investing groups in Montreal.

 

[tonyLeBlanc]

Lothar,



I live in Moncton, NB and I have been contemplating joining as well. REIN has a much bigger following in the West Coast and there is little coverage in the East Coast. As mentioned above, I would recommend reading the books and you will be well on your way.







--

Tony LeBLanc

Owner | Ground Floor Property Management Inc.

506 204-8448 | [email protected] | www.groundfloorpm.com

 

[kfort]

I would respectfully disagree w the suggestion to buy the home study kit prior to becoming a member. I'm in SK, go to zero meetings, am a by mail member and find it to be an incredible value. When you become a member you get the home study course as a bonus! Become a member, you'll get the course at no extra cost, you won't regret it.

I found the books useful,
The course/audio helped in deeper understanding,
And ACRE weekend was worth every single second!

 

[invst4profit]

[quote user=lothar briones]Realistically, would a REIN membership give me the contacts & knowledge to invest as a money partner or as a deal (no-money) partner as well. Personal experiences are welcome!



Lothar


The ability to invest as a money partner, or no money, will only come from being able to prove your value to others. Membership in any organization is of value in making contacts and as a structure for moral support and encouragement but you must establish your own reputation through successful investing before you will attract other investors.

First you must be successful before you can be more successful.

You seem to be doing quite well on your own at this point in time therefor you must measure the value you place on becoming a member of REIN on how you believe it may add to your present success.

 

[toddzimmer]

I have been a mail in REIN member for over a year and a half. I live in Surrey B. C., and invest in Edmonton. I have been to two ACRE live events, listened to the audios of it a few times. That course is the knowledge foundation, I believe, to becoming a successful investor no matter where you invest or how (money partner or deal partner). If you are a money partner, you still would benefit from being a very knowledgeable investor who recognizes a great deal, great location (as Thomas pointed out), and how a property should be managed once it is owned.



I have done a few Joint Venture deals so far after having completed the JV Secrets programme. Without it, I would not have had the confidence or knowledge to even attempt doing one. Thank you to Russel Westcott and REIN!



I look at the monthly REIN meeting information as ongoing education. You are supported in many ways: economic information (that would otherwise take a long time to accumulate and it is analyzed for you to boot), information on managing your portfolio (example: how to stage a property, etc.), creative strategies for financing and structuring Joint Venture deals, goal setting and help for acquiring a successful investor mindset, etc.



I could go on and on, suffice to say I am a true believer in REIN. It is worth every penny! Often there are strategies or tips that, if you put into practice, you may EASILY make back your invested time and money in membership!



Go for it!

Todd Zimmer

Zimmer Real Estate Investments

 

[AndreiAngelkovski]

Hi Lothar,



Why not attend one of the REIN workshops as a guest first to see if you like it? You can make a trip out of it and meet others face to face and even speak with Don Campbell in person. Otherwise, you will never really know. Attending an annual ACRE weekend is also a great place to start.

I live in Toronto and have been a member for 6 years. REIN has basically kept the fire burning for me on a monthly basis. The knowledge you get from attending/or listening to the CD's is excellent. The networking is very beneficial (if you put the effort into it). Being surrounded by other like-minded investors is very empowering as well.



There are many benefits to being a REIN member. I find that it's worth it.

 

[Alvaro Sanchez]

I am a REIN member in Ottawa using the mail option and most of my income properties are in Quebec (Gatineau), I find that my money works harder for me in Quebec vs Ontario.



What REIN offers is a system that can be used anywhere. While investing in real estate has its risks regardless of location, you will be more prepare when following a system.



I would suggest to invest for the initial year, get some training, attend some sessions or training kits and then decided if you would like to keep going. I have seen other offerings for similar training and by far this is cost effective.

 

[LotharBriones]

Thank you all for your feedback! I guess a "mail in" membership will help me

* catch up with economic fundamentals thoughout Canada,

* take advantage of included and reduced-price home-study training

* get answers about REI general questions

while I won't get specific contact recommendations for investing in Montreal, I could still find potential investment opportunities through REIN membership I guess.



I appreciate your feedback!



Lothar

 

[Thomas Beyer]

[quote user=asanchez]I find that my money works harder for me in Quebec vs Ontario.


Why is that ?



Is the equity upside there ? or just the cash-flow ?

 

[Alvaro Sanchez]

Yes, there is both. Gatineau has the benefit of being as boring as Ottawa so prices are steadily going up and rents as well. Some areas gets you better appreciation than others but still get at the minimum the average which end up being the "cherry on top".



In Ottawa, you will be lucky to get 6-6.5% but in Gatineau you can easily find 8-10% for properties under 350k which are the ones that I market.

 

[Kewal]

How many different types of memberships are? What is mail in member ?

 

[LotharBriones]

Kewal,



For info on the types of REIN membership please follow the link below:



http://reincanadamembership.com/membership-benefit/



Cheers,



Lothar

 

[Thomas Beyer]

See an interesting article by Conrad Black in the national Post today:



http://fullcomment.nationalpost.com/2011/11/26/conrad-black-how-the-roc-bought-off-quebec/



Some excerpts:



... In sum, Ottawa has assisted Quebec in achieving its
social-democratic, post-Catholic, exclusivist French state ruled by the
senior bureaucrats ` even as Ottawa diluted the possibility of
independence being achieved or even desired, and shrank Quebec`s
influence in the country as a whole.


Canada wins this exchange. It costs $8-billion a year in transfer
payments, and billions more in other preferments, but the country is
secure, and Quebec has ceased to be a threat to the nation`s integrity,
or even a serious irritation.

...

But they are hooked, haltered and leashed to federalism. Their fiscal
incontinence (the province`s debt is 95% of its GDP, and it would have
to assume a share of Canada`s debt as well if it seceded) and gross
over-indulgence of the public service would cause an independent Quebec
to suffer a Hellenistic capsize on launch. The vanity of the Quebec
clerisy is consummated; there is no working class left in Quebec ` it is
all a happy, torpid bourgeoisie.


Only Canada`s money permits Quebec to lionize lethargy and combat
recession with endless public-sector expansion. An independent Quebec
would be under daily audit from the IMF, and would suffer imposed
austerity that would generate the greatest public disorder seen in the
province since the suspension of Rocket Richard in 1955 by that supreme
exemplar of unilingual English-Canadian stupidity, the president of the
National Hockey League, Clarence Campbell.


The price Quebec has paid for this nirvana is a constitutional
Faustian bargain: It has lost all ability to frighten Canada or assert
more than its natural minority influence on the federal state.



Happy reading !

 

[MemberSupport]

Just a point of clarification, the staff person on the phone here at the REIN` offices may not have been too familiar with the geography of Montreal, but there are actually 5 or 6 REIN` Members in the area, if you include places like Dorval and Pierrefonds. Most of them are By-Mail Members, but there are a couple of Primary Members as well.

 

[richardkp]

Hi Lothar,

I am a REIN by post member (2 years) but I do try to get out to either the ACRE or another "event" during the year.

The biggest benefit I find is the CD recordings. It is like being there but you can skip what you don't need to hear and get to the best bits and listen to them over and over.

MyREINspace is another absolute gem as you will get some real golden experience replying to you and there are the member only sections. You also get all the downloadable forms as well as the economic fundamentals.



All this for only just over $100!!! I admit that the networking and support we get as mail members is not there - it can't be as we don't go but the rest is well worth it!

 

[LotharBriones]

Except for Mr Beyer who expressed his political opinion and facts about why not to invest in Quebec, which was by no means the feedback I was looking for in this thread, I really appreciate your feedback about why join REIN from Montreal!

I just got news of an end-of-year REIN membership sale and
think that now is the time to join!

Thanks again everyone!

Lothar