January 12, 2010 - It goes without say that research and education are amongst the most important facets of successful real estate investing. You wouldn't dive into a pool without testing the water first so you know what you're getting into. Therefore, taking a few real estate courses to brush up on your skills, both as a newbie investor and as a certified expert, could go a long way in helping you achieve your goals and avoid costly mistakes.

"The majority of success depends on filling the gap between the things you know and the things that you don't know," says Paul Gallagher, general manager at Wealth Intelligence Academy. "This can be accomplished through education, learning the techniques, strategies and tips that you don't even know exist. Closing these gaps allows investors to reduce time frames to achieve financial freedom, and create a clear plan with the support to reach individual goals."

Here, we've outlined several institutions that might help you make informed decisions no matter what your investment strategy. 

On a budget

For investors who want a quick no-fuss approach on how to become a real estate investor at an affordable cost, consider a one-day Power Workshop, offered by Growth Strategies in Brampton, Ont. for $369. The workshop includes six steps to success in the business of real estate, how to build your brand and attract joint venture partners and how to run a family business. Each workshop includes real life examples and an interactive discussion.

"What makes all programs unique is the coaching," says Brian Pulis, business coach at Growth Strategies. "Although coaching has a teaching component, the true value of coaching comes from having someone by your side assisting in all aspects of your business." 

One-stop shops

Some investors will admit that the guidance of a certified mentor has in fact aided them in making smart investment choices. The Mentorship Program by Wealth Intelligence Academy is only one of dozens that is offered. It provides one-on-one sessions with a seasoned real estate investor who is willing to share his or her strategies, knowledge and experiences. Mentors can review previous deals, assist with current ones and evaluate future prospects for students. 

Investors should note these programs can cost in the thousands, but are tailored to the individual needs of the student, who is typically able to contact the mentor at his or her leisure.

"The educational commitment can last anywhere from a couple of months up to two years," says Gallagher. "However, in order to become truly successful as a real estate investor, the commitment becomes lifelong." 

Also, for an all-in-one training course that covers all aspects of real estate investing including how to structure 'risk-free' deals and where opportunities exist, there is PREIG Canada's Real Estate Millionaire Secrets Seminar that is being offered nationally throughout the year for $997.
 
Specialty courses

For those investors that are specializing in particular strategies, you might want to take a course that is specific in achieving your goals. These analytical training sessions take one approach and provide in-depth detail so you have the tools to help you succeed.

Real Estate Investment Network in Edmonton, Alta. offers a Joint Venture Secrets for Canadians course, which includes a 12-CD and 700-page home study program. Past attendees say it has helped them build a foundation to enhance their portfolio once they've used all of their own available capital. For $987, it provides investors with sample forms such as legal agreements, analysis papers and case studies of examples that have worked in the past.

Another specialty course is the Condo Conversion Secrets for Canadians, also through Real Estate Investment Network.

"This is the ultimate way in which to quickly add value to your investment portfolio and have the bank pay for it," says Don Campbell, president of Real Estate Investment Network, Edmonton, Alta. "We developed this to make it simple and easy for beginning or veteran investors to discover just how simple and profitable condo conversion really is."  

The program includes a 1,000-page step-by-step manual and CDs that have become the gold standard for investors across the country for a price of $1,497. Past attendees say it has literally saved them thousands of dollars and made their portfolio values increase dramatically, even during the downturn. 

Investors who want to learn more about foreclosure and power of sale properties can attend a Canadian Wealth Builders training course that is province-specific. Students learn about the entire process, including the mortgage act and laws so they have the knowledge to challenge any lawyer, bailiff or lender. Costs vary depending on the area and length of commitment. Generally training courses last up to three days.

Canadian Wealth Builders also offers an RRSP and Creative Financing Apprenticeship, which shows students how to make their money work for them. Students learn the various ways of how to use an RRSP for real estate investing and are trained in the ways of a private lender.

One feature of this program is that students can call during business hours with no extra cost or time limit, says Gord Lemon, vice-president at Canadian Wealth Builders. "We will help them through any deal they are considering at the moment. We figure if our students are successful, we will be too."

CANREIG is another organization that offers a creative financing course, only it's is a three-day retreat during which investors are taught how to put together investment deals. This course is now being offered on the West Coast and students can learn how to increase their returns by buying properties with other people's money.

Tips on picking a course

No matter what course you decide to enrol in, investors are well-advised to check the background of any institution and assure they are legitimate and have been in business for a substantial amount of time. Don't be afraid to check references and go through referrals, listening to the experiences of those who have attended a course in the past. Also, based on investor feedback to Canadian Real Estate magazine, pick an institution that does not sell properties or invest money for you. 

"Each of our programs teaches people how to build a business as a real estate investor," says Gallagher. "We do not invest our students' money for them or offer them projects or properties to invest in. Our focus is providing the education, training and support for students who make the commitment to themselves in order to become real estate investors."

From the October 2009 issue of CRE