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An insider-investor secret to better deals, more money and lots of laughs

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guest | 27 Sep 2011, 07:59 PM Agree 0

My husband Dave had cut back his hours at work, but was still going into an office a few days a week at the time. My friends didn’t really understand what I was doing. I was feeling a little lonely and when I encountered a challenge, I wasn’t really sure who to call. Social media opened the door to a huge network of people I could reach out to at any time, but many of the strongest, most enjoyable – and profitable – relationships I’ve developed in the last three years have come from attending local real estate investing club meetings and investing conferences and Forums (like the upcoming one Canadian Real Estate magazine is hosting in Vancouver!). From these meetings I’ve made great friends, business partners and made some really good money. If that’s not enough reasons for you to get out there, let me give you seven more:1.    Learning local information: I always learn interesting tidbits of information at local meetings. Some is industry gossip, but some is really high quality information. For instance, •    Are you up on the latest law changes that are creating new challenges or opportunities for real estate investors in the area? •    Do you know about the builder that cut corners and is now going bankrupt?•    Did you hear about the development application on the outskirts of town?These are all things you might hear about at a local meeting.2.    Discovering new colleagues: Most of my long-time friends don’t really understand what we do. It can be quite an isolating feeling. When I attend local club meetings, however, I feel like I’m with family. They understand me and can relate to whatever it is I’m dealing with that particular week.3.    Connecting with experts: Many experts dedicate their time to clubs to give back. They are more accessible at a club meeting than at any other time. As a result you can get questions answered and maybe even make a new friend or business partner. 4.    Finding joint-venture partners: The deals that came together the easiest in the last 24 months were the ones we did with people we had met at local real estate investing club meetings! They already knew they wanted to put their money into real estate, and they knew they didn’t have the time or expertise to do it well themselves. So they found help in the form of us!    ??5.    Helping others: If you have already purchased a property or two, then you can be an invaluable resource to someone else at the club that is just getting started. Even just the smallest gesture of assistance, like giving them the name of a great inspector, can help someone just starting out.6.    Building your team: We’ve been investing in the same city since 2001 and there are still times where we find ourselves in need of a professional that we’ve never had to hire before. We almost always get the best referrals from fellow local club members. 7.    Completing more deals: Your local club meeting is a great source of buyers, sellers, and lenders who will provide opportunities to do deals! In 2010, we had several deals come out of club meetings we attended and we raised nearly half a million in capital from the local meetings alone! And here’s a bonus reason for going to local club meetings if you are new to investing: Attending a local club meeting is a simple action step that says “I am a real estate investor” to your mind. That alone should motivate and inspire you to take bigger steps forward. So if you can think of no other clear action to take right now whether you’re a novice or a seasoned investor, go to a club meeting!
  • carlos cordeiro | 29 Sep 2011, 12:24 AM Agree 0
    Great article. Know of any such clubs in Winnipeg, Manitoba? Thanks.
  • carlos cordeiro | 29 Sep 2011, 01:24 AM Agree 0
    Great article. Know of any such clubs in Winnipeg, Manitoba? Thanks.
  • John Carter | 29 Sep 2011, 06:59 PM Agree 0
    Great points, and many that I'm sure a lot of real estate investors can relate to. I also checked out your website top articles and found the multi-family vs single family article interesting. I've had that debate myself and have bought and sold several properties in both types of residential. I've also worked as a realtor for large clients on both. We created a fund specifically to give access to investors with smaller dollar amounts to be able to gain access to larger, more efficient and more profitable deals than they would normally be able to access. The bottom line in my experience is the old rich dad poor dad rule - bigger deals have bigger profits (even as a percentage). When you start playing in $1M+ investments the ROI goes up with the risk generally going down. Best of both worlds in my books!

    Reads might be interested in these two articles:
    - Pooled vs Direct investment:
    http://www.ptrust.ca/direct-vs-pooled-investments/
    - Multi-family vs other asset classes:
    http://www.ptrust.ca/learn/why-multi-family-apartments/
  • John Carter | 29 Sep 2011, 07:59 PM Agree 0
    Great points, and many that I'm sure a lot of real estate investors can relate to. I also checked out your website top articles and found the multi-family vs single family article interesting. I've had that debate myself and have bought and sold several properties in both types of residential. I've also worked as a realtor for large clients on both. We created a fund specifically to give access to investors with smaller dollar amounts to be able to gain access to larger, more efficient and more profitable deals than they would normally be able to access. The bottom line in my experience is the old rich dad poor dad rule - bigger deals have bigger profits (even as a percentage). When you start playing in $1M+ investments the ROI goes up with the risk generally going down. Best of both worlds in my books!

    Reads might be interested in these two articles:
    - Pooled vs Direct investment:
    http://www.ptrust.ca/direct-vs-pooled-investments/
    - Multi-family vs other asset classes:
    http://www.ptrust.ca/learn/why-multi-family-apartments/
  • buzzingstreet | 01 Oct 2011, 08:10 AM Agree 0
    Nice and quite useful blog. Would like to say that stock market hardly gives any second chance. Once opportunity lost means it’s gone forever. Now the biggest question is how to grab trading opportunities every time we trade?
    Well here comes the technical analyses handy. Just rely on research rather than your guts feeling and one should stop speculating in the Share market.
    Follow few basic trading rules and we are sure one can earn huge amount in the Indian stock market only by trading in NSE and BSE
  • buzzingstreet | 01 Oct 2011, 09:10 AM Agree 0
    Nice and quite useful blog. Would like to say that stock market hardly gives any second chance. Once opportunity lost means it’s gone forever. Now the biggest question is how to grab trading opportunities every time we trade?
    Well here comes the technical analyses handy. Just rely on research rather than your guts feeling and one should stop speculating in the Share market.
    Follow few basic trading rules and we are sure one can earn huge amount in the Indian stock market only by trading in NSE and BSE
  • Julie Broad | 03 Oct 2011, 06:12 PM Agree 0
    Thanks for your comments John! Very interest points - I will check out your posts later on this week.

    Carlos - I don't know of any myself but I did a quick search on meetup.com and there's one here:

    http://real-estate.meetup.com/cities/ca/mb/winnipeg/

    If there aren't any now you can always start one!! :) Just an idea ...

    Julie
  • Julie Broad | 03 Oct 2011, 07:12 PM Agree 0
    Thanks for your comments John! Very interest points - I will check out your posts later on this week.

    Carlos - I don't know of any myself but I did a quick search on meetup.com and there's one here:

    http://real-estate.meetup.com/cities/ca/mb/winnipeg/

    If there aren't any now you can always start one!! :) Just an idea ...

    Julie
  • Certified Estate Advisor | 17 Nov 2011, 08:41 AM Agree 0
    Very interesting points you have mentioned , regards for posting .
  • Certified Estate Advisor | 17 Nov 2011, 09:41 AM Agree 0
    Very interesting points you have mentioned , regards for posting .
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