So, there I was in Toronto at the event I mentioned in my last post, chatting with a very recent addition to the RealNet Canada research team when he says “Julie, I want you to meet my long time friend Peter”. The three of us stood around chatting for awhile, and I started to tell a few real estate war stories (it was a real estate event after all!). Part way into my story about Dave’s purchase of a six-plex in Niagara Falls Peter says “Wait a minute – do you write a newsletter??”.
I’m pretty sure my face went red… surprised more than embarrassed I think. “Rev N You?” I asked. “Yea -” Peter said. I braced for it… what if he didn’t like it? But then he said “I love that newsletter. It’s great…” and then the best thing happened, Peter turned to his buddy that had introduced us and started telling him about our newsletter!
As we kept talking, I realized Peter had actually written us awhile back with a question about real estate courses and finding properties… here’s his note to us, and part of my response (not all because it was a very long and detailed email and I don’t want to bore you)!
I guess it’s a good note to self… you really never know who you are going to meet, and where! Always put your best foot forward in everything you do… here’s Peter’s note, and part of my reply.
I just read your article on real estate courses. I believe heavily in the usefulness and power of education. What real estate courses have you taken that you thought were good? What is the best course you have taken?
Also, how do you find smaller investment properties that make sense financially. I have been looking for a while now and live in Toronto. There only small deals I find are usually under 8% cap and are not worth the time and hassel when I can get this in the public market.
Do you have a specifc way or process for sourcing new investments?
And part of my response… I’ll just post the bit about courses for now… or this will be the longest post in history!
Thanks for your e-mail and your great questions.
First, about courses. It’s really tough for me to recommend a course to someone I don’t know. I really believe that a course has to meet your objectives, and everyone’s goals and objectives are different. Sometimes I go to a course or a conference to meet people. Other times I go because I don’t know anything about the subject. That said, while I was in Toronto (we live in Vancouver now), I attended a lot of real estate conferences by the folks at Real Estate Forums and mini-courses put on by BILD and NAIOP. Some courses and conferences require membership and others do not. But none of these are really geared towards a small investor – they just provide great market knowledge and interesting contacts.
For a smaller investor, I wouldn’t recommend any of the courses we spent money on (the ones you see on late night t.v.). They were essentially no-money down get rich quick courses full of hype.
I know members of REIN and they really like the Quick Start Program REIN offers. It might be worth checking out: https://www.reincanada.com/. The seem to do some really great research and provide some good tools to help you invest in real estate. They definitely aren’t full of hype to set you off on the wrong course – their focus is more on fundamentals which I think is important.
I wish you luck in your hunt for a good property. Please keep in touch and let us know if you end up taking a course you like and if you find a property with numbers that make sense for you.