HOW DO I GET FROM HERE … TO THERE?
Congratulations! You’re making plans for your financial future. Part of that plan includes some real estate investing. Now what?!?
Just like with any investment, most people begin by educating themselves. Some of the basic concepts are covered very well in Robert Kiyosaki’s, Rich Dad, Poor Dad. Just a little note of caution that some of his strategies only apply in the USA. The best Canadian book for foundational concepts is by Don R. Campbell, Real Estate Investing in Canada. Both books are packed with information, but also told in story formats—making for relatively easy and enjoyable reading. If you prefer to learn in person, the Real Estate Investment Network (REIN) of Canada offers monthly meetings to inspire, educate and inform Canadian real estate investors. This weekend, they are hosting a conference entitled Authentic Canadian Real Estate (ACRE)—right here in Calgary; we’ll be there to learn and network with other investors. There are many other meetups, forums, conferences and networking opportunities. There are even online educational platforms now: Fearless Investors by Investor Life is a private FB group that you can ask to join and learn with; watch closely for their next online “Bootcamp.” This is one case though where “choosing Canadian” makes a big difference!
Once you are comfortable with the basic concepts, Step 2 is often building a team of people. You’ll need a realtor who understands investment real estate—YES, it is very different from just buying your home! You’ll need a banker/mortgage broker, lawyer, insurance broker and accountant who can assist you to process all the paperwork that goes together with real estate investing. And you will need a property manager, or some time and energy, to manage that investment and grow it to its full potential returns.
If you’re still reading: you’re either highly motivated or completely overwhelmed! Highly motivated Do-It-Yourself’ers will find a way to figure it all out. If you’re still full of questions, worries and confusion, there is a secret sauce to this recipe. Partner with someone who has already taken the time to learn, develop a team and grow their systems. The legal terminology is a Joint Venture.
Many people have the money to invest, but lack the time and energy to become a real estate investing expert. Did you know that you can still benefit from real estate investing, while doing very little work? We partner with busy people just like this! We work hard to find great assets, then to manage the people, properties and paperwork. Our money partners are typically free to continue running their businesses, growing their careers, travelling and enjoying their families. You can connect with us in person at ACRE this weekend, FB@MtnEdgeDevelops, and https://mountainsedgedevelopments.com/. Look for the “working partner” on Saturday—you’ll know her when you see her!
