# Ottawa Investors - Looking to Learn the Ropes



## splatapus (Nov 8, 2015)

Wondering if there are any investors in Ottawa that would be open to me shadowing you to learn the ropes of real estate investing. In exchange I will work for free on any tasks you feel comfortable to assign (painting, running errands, etc).

My background: mid-20s male, graduated from engineering, got a job and slowly starting to build up capital. Would like to use that to buy assets. I've read a few real estate investing books, and watched YouTube videos from Matt Mckeever on the BRRRR strategy. Went on a few investor seminars, and a bus tour. Felt that the current market price for homes is high relative to the monthly rent (I could be wrong here, let me know). So I'm looking to see if any experienced investors in the Ottawa area could spare some time and act kind of like a mentor. I'll try not to be dead weight and try to actively help out. In exchange I would like to give back to you as well - not sure what that will be yet.

It's a long shot, but there's a chance there's someone out there . Please private message me if you're open. Thanks!


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## TomB16 (Jun 8, 2014)

First of all, you win the screen name contest. Congratulations.

Second, let me tell you my story.

I've been considering the idea of taking on a mentor for about two years. My wife and I have just semi retired. We will now focus on winding down our R-E investments. We have no children. We have no legacy.

It has occurred to me that it would make a lot of sense to mentor someone. I could use the help and I would offer it in return, also. If I could find someone honest, hard working, and at least average intellect, I would set them up in the business and consider financing the right person's own R-E program. In exchange for setting someone on a path to pretty significant prosperity, I would have someone who would look after our properties while I am out away, etc. It could be beneficial to both parties, hence the thought.

I hate to discourage anyone but I feel seminars and bus tours are a great way to get rich quick but only for those putting on the seminars and tours. Reality lies elsewhere. At least, it does for me.

So, want to move to Regina? lol!

I predict someone will engage you with delight and you will learn how to find properties, how the investment works, financing, property management, how to run a project (you probably have most of this and will have zero problems, I work in an office full of engineers, but it's a bit different with R-E investing), and, most importantly, you will learn the pragmatism and mindset needed to succeed against the barrage of misinformation and lies we are bombarded with, every day. The latter can't fully be taught, as best I can tell, but it can be gained by simply spending time with someone operating in this fashion.


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## TomB16 (Jun 8, 2014)

Regina has a mountain of R-E investors. Most of my friends have one or more rental houses. Few of us, however, get big. Few of us even make much money, actually.

There is the odd person who understands R-E investing at a higher level than the typical person. This handful of people are able to expand their R-E empire without limit. It's pretty impressive. 

Based on nothing but your three paragraphs, I have every expectation that you will one day be a large and successful fish in the R-E field.


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## TomB16 (Jun 8, 2014)

I'm going to bump this thread, so my spam doesn't supersede your spam.


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## splatapus (Nov 8, 2015)

TomB16 said:


> Second, let me tell you my story...


 Thanks for the response! I really appreciate the offer of mentorship, I think you'll find someone worth your time. And equally, thank you for offering the gift of knowledge. No I can't move to Regina.

And yes I agree about the seminars and bus tours. Some of them are there to get themselves richer, and I think some have no clue what they're doing. And they definitely don't show attractive deals.




TomB16 said:


> Regina has a mountain of R-E investors. Most of my friends have one or more rental houses. Few of us, however, get big. Few of us even make much money, actually.
> 
> There is the odd person who understands R-E investing at a higher level than the typical person. This handful of people are able to expand their R-E empire without limit. It's pretty impressive.
> 
> Based on nothing but your three paragraphs, I have every expectation that you will one day be a large and successful fish in the R-E field.


I think real estate is attractive because of the inherent leverage it offers. Not sure if I'll ever get "big", have 0 properties at the moment, but I think because of the leverage, it should offer better returns than the stock market or bonds (if done right).




TomB16 said:


> I'm going to bump this thread, so my spam doesn't supersede your spam.


Heh, sorry. I apologize if this was spam. I just had no idea where else to post this type of stuff. Kijiji I'm afraid would attract weird people. BiggerPockets is more intended for U.S. investors.


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## TomB16 (Jun 8, 2014)

splatapus said:


> Not sure if I'll ever get "big", but I think because of the leverage, it should offer better returns than the stock market or bonds (if done right).


Getting big is easy. At least, it was for me. Once you hit 3 or 4 properties, additional homes tend to become an impulse buy. Be careful how big you scale, however. Your success might also be your jail.

Nothing wrong with some well intended spam. I followed your lead and posted my own. 

Best wishes, splatapus. I think you came to the right place. 

You might also consider networking with any realtor friends (be careful here but it has potential) and I wouldn't be afraid to stop at a renovation project and chat with the proprietor. These are easy to tell because nobody is living there and the guy working it by himself or has one helper came in an unmarked pickup truck.

You'll have some negative responses and then you will succeed.


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## drnetworth (Jan 6, 2018)

Have you tried posting on REIN's forum? 

or try attending a local investing club in Ottawa....I googled and found an Ottawa REI club that has meetups.

Good luck!


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## Just a Guy (Mar 27, 2012)

I would away from rein. They are all about selling courses and books, not so much about real estate. I have made a lot of money buying places from former rein members who have lost their places to the banks.


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## splatapus (Nov 8, 2015)

drnetworth said:


> Have you tried posting on REIN's forum?
> 
> or try attending a local investing club in Ottawa....I googled and found an Ottawa REI club that has meetups.
> 
> Good luck!


Are you referring to OREIO? I've never been to a meetup, and I don't think that's the type of environment beneficial to a newbie like me. They look pretty extravagant with a big dining hall, 100+ people attending.

I was hoping for something more low-key like a "London on FIRE" meetup video posted by Matt Mckeever, where there are just a few investors, maybe a few newbies like myself looking to learn the ropes.


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## drnetworth (Jan 6, 2018)

Hi Splatapus,

No, not OREIO. Google REIN 

I'm not suggesting to take their expensive courses/seminars, as mentioned by another poster. I am suggesting that you try posting onto their free forum, asking for a mentor in Ottawa. Try to google REINspace (similar to canadianmoney forum but all about Real estate). 

I am not suggesting that every REIN member is going to be a trustworthy sophisticated real estate investor that you should take on as a coach or listen to for advice. Just like posting on this forum, it's "buyer beware" when asking for advice. But there are some REIN investors on that forum that you may find helpful. Who knows, you may find an investor in Ottawa on that forum that may be the right fit for you, and vice-versa

Remember that real estate investing is the "Wild West". There are no diplomas/degrees that can provide you with some sort of verification of one's skill level as an active investor. You have to do your due diligence if you decide to work with another investor.

Good luck!


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## drnetworth (Jan 6, 2018)

As for local investing clubs, I am suggesting small investing clubs that meet up monthly. There is probably one in Ottawa area....you just have to google for it. You may meet an investor in that group who may be a good fit as your coach


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