tonight finally, i got a chance to join Toronto’s RE club’ monthly meeting. i was really excited
The club leader invited Canada’s top residential investor Don Campbell, who delivered a two and half hour long speech which completely confused me. here are some of the things i wrote down that he mentioned as some guidance (i wouldn’t say rules) for investing in RE.
you can only begin to make money in RE investing after a minimum of 3 years. always seek long term wealth.
first thing to do into investing, get yourself a good Realtor.
usually you have to buy at market value (as i heard this my jaw dropped open and stared at him in awe. Simply admiring his courage)
Always go see the house that you’re buying, even if its in another country.
what he says contradict many people’s investing rules. however it worked for him. He currently own 200 or so properties. He is rich, and his RE club and affiliates represents majority of Canadian investors (associations). he wrote two national RE investing bestsellers. He was invited to speak at the Donald Trumps RE Annex. He is appearing on many shows on TV. i would say he is quite a symbol for Canadian RE investors. HOWEVER…
point #1 scares me… “minimum 3 years?”
point #2 may be valid because in Canada mailing lists are very hard to find due to privacy act, however i still believe its best to work on marketing skills first.
point #3 just simply what the hell?!
point #4 is more like a security check, but i know many people who bought houses out of town by only look at numbers, and have a local Realtor check out facts for them, then buy it without ever have to look at it.
now i know most people here are in the states, and i learned almost everything about RE here. the rules are different. even so, as far as i know, the basic concept of RE investment is still the same. Well, i will figure out he is right or wrong soon enough. however all the known investors clubs are under his influence…so that means, those are the people that i am going to network with!!! playing under totally different rules??? (i guess on the other hand, it means less competition?!)
any thoughts? i don’t know if anyone have heard of Don Campbell. how the heck can u get rich playing that way? he also started out with little capital.