REIN value for BC investors?

Question

Hello all! I'm exploring REI from Vancouver, Canada. It's great to have this BC-dedicated forum here on BiggerPockets.

I have a bit of cash and seeking connections to venture into a JV or similar partnership opportunities.

I just attended a free REIN webinar which had valuable info. Would be grateful for opinions on whether REIN membership cost is worth it? It's ~3,000/yr, which seems rather expensive to me but what ROI to put on such knowledge and networking? I really need the expertise and networking but perhaps there are other cheaper alternatives available in BC/Vancouver?

Thank you kindly,

Elisheba

Wendell Fong · Answer

Save your money for now.  Start with education.  Ask a question a day/week here on BP. Start with bad questions and improve the quality of questions over time.   Take 1/10 of that $3000 and buy $300 worth of REI books. Learn the lingo. It will help point out your weaknesses and where you need to build your team. There is a list of RE and general investing books, recommended by guests on the BP podcast.   Once you pick out a strategy or know the stage of investing you are at, then scan the BP podcast list (for that state or strategy; househack; single family;first investment;first multifamily; first commercial +5units, first syndication, raw land; short term rental, BRRR, Fix and Flip, Wholesale, Buy and Hold etc. ) and listen to the interview.   See how others did what you did.  Especially listen to their mistakes.   6m-12 months from now when you know who you need and what skills you are missing, then you can start building your network.  If you don't have any network, then consider joining REIN.

Jason Ridout · Answer

Hi @Elisheba Kihara, joining REIN or Keyspire is sort of like joining a gym. They give you the tools, but don't do any of the work for you.

Some people pay large sums of money for access to REIN and the training programs and expect investments to land in their lap. Nothing ever happens and they think the membership is a waste of money.

Other people use all the tools, network, make important connections and put dozens of deals together. It ends up be the best investment of their lives.

A gym membership is a waste if you don't go, reading books is a waste if you don't put the lessons into action and real estate memberships are a waste if you don't take advantage of the networks and systems they offer.

If you're serious about investing in real estate, commit. Read every book, listen to every podcast, analyze every property and take every step you need to to make it happen. If that involves joining REIN, do it.

Happy investing!

Layton Gilbraith · Answer

Main question. What do you expect that $3000 per year to give you?

Theres an endless stream of free content out there that can teach you everything there is to know about real estate. This site alone is proof of that.

At a minimum look up some real estate books and make a smaller investment first (i.e. $20 - $100) by absorbing those.

Whatever you think is holding you back from getting started I promise you paying $3k isn't going to fix it. There might come a time where $3k is worth it. But right now I doubt it.

That said,. Your money, your choice. I hope this has been helpful.

Zorya Belanger · Answer

Hi @Elisheba Kihara I’ve been a REIN member for almost 8 years now. I can say I’m glad I joined when I did as I learned a lot and got me started down the right path. BUT, the organization has changed quite drastically, especially right now with everything being online. I can’t say it’s the same value as it used to be. At the same time, a surprising amount former REIN members / leaders have started their own education and coaching programs. Most are focused on a specific strategy.

The basics you can learn from reading Don Campbell’s books, starting with “Real Estate Investing in Canada”.

I do believe coaching and real estate programs are helpful in fast-tracking your journey, but look at all your options. Since there are more programs than ever out there, it can be hard to navigate, so I’d be happy to provide more insight. Reach out if you want to chat.

Binh T. · Answer

Similar to many of the previous answers, I'd suggest going to your local library and starting signing out books on REI and save yourself some money. I was surprised to find at my local Burnaby library (Cameron branch) has a great collection of REI books including "The Little Book of Real Estate Investing in Canada" by Don Campbell and "Long-Distance Real Estate Investing: How to Buy, Rehab, and Manage Out-of-State Rental" by David Greene.

Wendell Fong · Answer

I meant to say.. see how others did, what you want to to.

In the words of so many motivational speakers.. "Success leaves clues."

That is why I like to read biographies.

Theresa Harris · Answer

I agree with the others that said the membership/fee is not worth it.  You can go to local meet ups or even virtual ones.

Elisheba Kihara · Answer

@Jason Ridout thank you for this logical approach :)

Elisheba Kihara · Answer

@Zorya Belanger I really appreciate your candid insights re your REIN experience - exactly what I needed! The amount of info and gurus out is overwhelming so your advice is spot-on. Will check out Don Campbell''s book

Karli Ann Fortin · Answer

Hi Elisheba,

I just started a book (audio) called

"The Book on Rental Property Investing"

Loving it so far! I have done some real estate trading and am a Realtor so I am not greeeen, but I am new to looking at it as something that I can learn more about through books and forums! Excited for my next steps. Going the BRRRR route for sure, because I believe in holding on to as many properties as possible.

Nice to connect!

REIN value for BC investors?

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