I live in Laval, and I am an aspiring investor in Real estate. I understand that education and networking are essential, so I was wondering if any of you have ever tried the 10-month peiod coaching offered by the Club des Investisseurs Immobiliers du Québec. It cost 5K, so I want to make sure it's not a waste of money or time and that I can't get the same level of information elsewhere or by another mean.
The success stories of the participants are encouraging, but is it worth it? What do you think?
I'm starting by saying that my point of view is a little affected there because I'm an inspection coach at CIIQ but here is what I saw through the years. (*I have absolutely no financial interest)
People that are only reading books tend to not take any action. You get a lot of knowledge but don't do anything with it. When you're in a group, other people that started at the same point you were are technically pushing you to do something with what you learn. There teachings are quite wide to make you understand what type of investment you prefer. Coaches are doing different type of investment, as the attendees too. In my group in 2018, we had ranges from 0 doors to more than 200, people in buying land, AirBNB, condos, flipping.....pretty much everything. Speaking with people might save you from doing the wrong type of investment, getting to know that investing in real estate is not a unicorn type of passive investing (even if there is a way of doing this also).
That being said, there are other ''schools'' in the province that are more specialized in a different type of investing, different prices and different people are there too, depending of what you prefer. If you have questions about them, I can give you info in private. But CIIQ is a good starting point from what I experienced. If you start some other advanced program and don't know what a cap rate is, you might get a little lost.
Beware, there is some ''Guru'' type of coaches these days!
I'm starting by saying that my point of view is a little affected there because I'm an inspection coach at CIIQ but here is what I saw through the years. (*I have absolutely no financial interest)
People that are only reading books tend to not take any action. You get a lot of knowledge but don't do anything with it. When you're in a group, other people that started at the same point you were are technically pushing you to do something with what you learn. There teachings are quite wide to make you understand what type of investment you prefer. Coaches are doing different type of investment, as the attendees too. In my group in 2018, we had ranges from 0 doors to more than 200, people in buying land, AirBNB, condos, flipping.....pretty much everything. Speaking with people might save you from doing the wrong type of investment, getting to know that investing in real estate is not a unicorn type of passive investing (even if there is a way of doing this also).
That being said, there are other ''schools'' in the province that are more specialized in a different type of investing, different prices and different people are there too, depending of what you prefer. If you have questions about them, I can give you info in private. But CIIQ is a good starting point from what I experienced. If you start some other advanced program and don't know what a cap rate is, you might get a little lost.
Beware, there is some ''Guru'' type of coaches these days!