are bp tools and services canadian friendly ?

[Richard Poitras]

Good day everybody! Do the biggerpockets tools and services work in our canadian market ? Thanks .

[Dawn Brenengen]

@Richard Poitras The tools are in dollars, but I think you could easily convert your final number to Canadian currency.  The resources are probably all American companies.  I think you can click on the tools and explore whats offered.

[Roy N.]

@Dawn Brenengen

Canadian currency is in dollars as well ... just CAD vs USD ;-)

@Richard Poitras

The tools and resources on BP at U.S.A. centric.  That said, you could use some of the on-line calculators to provide a rough idea on a property, suitable for triage purposes.  However financing, regulation and taxation are sufficiently different that the present tools cannot provide you an accurate modelling of Canadian properties.

[Dawn Brenengen]

@Roy N. I was going to google what the currency was called, but I was typing on the fly  🤣

[Richard Poitras]

hi dawn and roy,thanks for the replies. thats pretty much what i thought. lol for everybody out there ,up here in canada our currency is butterflies and rainbows, but smiles and hugs are free. have a wonderful sunshiny day!

[Hai Loc]

Originally posted by @Richard Poitras:

Good day everybody! Do the biggerpockets tools and services work in our canadian market ? Thanks .

The most similar strategies used is buy and hold rental, BRRR and flips.. note trading is not common in Canada, syndication is starting to make way tho..

[Huong Luu]

@Richard Poitras Look into REIN. They are based in Canada, and their tools and resources are Canadian focused. 

[Roy N.]

Originally posted by @Huong Luu:

@Richard Poitras Look into REIN. They are based in Canada, and their tools and resources are Canadian focused. 

 But do so with your eyes wide open and with the understanding that RIEN wants to sell you things.

[Stephen Fryer]

Hey @Richard Poitras

"lol for everybody out there ,up here in Canada our currency is butterflies and rainbows, but smiles and hugs are free. have a wonderful sunshiny day!"

LOL That's an awesome response. You forgot.....Recently voted #1 in Quality of Life Rankings ;-)

[Richard Poitras]

thanks for that huong luu , ill look into that and ya im sure they want to sell me stuff....doesnt everybody ! yeah canada !

[Richard Poitras]

Hi Theresa Harris, I got a vote !Im not sure what it does ,but thank you for your effort.

[Ming Lim]

@Richard Poitras - Finding Canadian centric material is tough. It was one of my biggest struggles when first investing.

There are few places I'd point you. Erwin Szeto's (aka Mr. Hamilton) podcast. Lots of Canadian centric content and podcasts guests are always talking about tools that they use. As mentioned above, calculators in general will work, the one on our website could be applied to both US and Canadian markets, what is missed, are things that are specific to your situation, like taxes. First time home buyers credit, capital gains taxes, etc, etc. These are all key elements in your investing strategy, but a calculator won't take those into account.

Hope that helps!

Cheers,

Ming

Oh and voting on someone's post is a simple way of acknowledging what they've said is helpful. At least that's why I click the vote button. :)

[Richard Poitras]

excellent,thanks ming ill check him out.

[Noel Desautels]

Besides Erwin's podcast, there is a longer-running Canadian podcast called Breakthrough Real Estate Investing Podcast.  It's also very good.  

There is a real estate education network near Toronto called Durham REI and they have educational materials, tools and a monthly meeting, just like REIN. The percentage of real estate investors in the room at a monthly meeting is probably higher than you will find anywhere else. Quentin D'Souza who runs it is a prince of a person and has created an amazing community.

REIN Canada is a fantastic resource and a great organization - it is THE organization in Canada to join if you are a serious investor / potential investor.  While they do "want to sell you things," what they do sell is excellent value for money and they are not trying to get you to invest in projects or buy their properties.  Their services are along the lines of:

• *  a CAD100/month online affiliate subscription with full access audio recordings and all tools and discussion boards
• *  a CAD200/month main membership with full access to 12 monthly meetings per year in any of Toronto, Calgary, Edmonton, Vancouver and occasionally Ottawa and Kelowna.  This also allows attendance for their annual 2-day intensive seminar in BC, Alberta or Ontario.  The main membership also allows access to webinars or special weekend events (on raising capital or forming partnerships for example).The Toronto meetings attract hundreds of participants monthly.  
• *  they, at times, have special courses or programs costing an extra few hundred to a thousand or two dollars.  This can include things like learning how to be a real estate investing coach or a fast-track mastermind group.
• I have heard of organizations out there who want to get you hooked on very expensive education / coaching programs for over CAD10,000 or to use the education as a relationship builder to sell properties/projects. I believe that REIN Canada and Durham REI both provide excellent education, tools and networking at a very low price. I have my personal criticisms of these organizations but the benefits vastly outweigh my issues.
• I have been a REIN Canada member for almost a decade. I have attended many Durham REI events. I receive no benefit whatsoever from making these recommendations.
  
  Happy real estate investing to all, Canada or not.
• Cheers, Noel

[Julie Toh]

@Noel Desautels I also recommend The Breakthrough Real Estate Investing podcast - it is def a good resource. @Richard Poitras There's also a Vancouver real estate podcast if anyone's interested in the BC market. Cheers.