Following and Repeating a System Lead to Amazing Results for One Real Estate Investor

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By Patrick Francey

Albert Einstein once said, “In the middle of difficulty lies opportunity.” This period of time is both a difficult one and the greatest opportunity for the smartest, best-equipped real estate investors to take advantage of the re-growth of several key regional economies. For many uninformed investors and average Canadians who have dipped their toe in the investment world, the last five years was a time to step back, step out, or sit on the sidelines.

But for those who saw the opportunity in those difficult and uncertain times, their financial rewards have been beyond just encouraging.

Recently, I was reviewing nominations for our Annual REIN Canada Achievement Awards. The numerous stories of success amaze me. These are stories of positive results in the midst of financial uncertainty; visions of hope and growth and reward in the middle of an economic storm. I am proud of the efforts of so many REIN Canada members, and I would like to share one particular story with you.

This is the story of Justin Chung.

Before Justin joined REIN in the spring of 2011, he owned a few student rental properties in Waterloo and a condo in Toronto, where he grew up and in which he continues to live. He was determined to take his investing strategy to a higher level, so he decided to attend a REIN ACRE Program in April 2011. After that, he knew that joining REIN and being supported by a powerful community would elevate his investing and accelerate his journey to long-term sustainable wealth.

Justin knew that being in the company of like-minded people would help him focus on both WHAT he wanted and HOW he would achieve his goals. He appreciated how the contribution a team of great people could make this happen. He valued the realtors, property managers, lawyers and countless other professionals he met. His interaction with the REIN Support Team was priceless.

So, Justin thought, “Where do I start?”

Leveraging the research and strategies provided by REIN, he decided to branch out to what seemed like a more lucrative market and selected Hamilton as his primary investment target. He grabbed the initiative and built a power team in the Steel City and a few months later he made his first purchase. It was a power of sale and a renovation project. Despite his initial fears, the project turned out to be a huge success.

By early 2012, he set a personal goal of purchasing at least one property per quarter, keeping his minimum cash flow targets in mind. Through the year, his investment in the Hamilton market continued.

Justin next moved to joint ventures. He realized this would allow him to increase his own portfolio while simultaneously helping other investors reach their own financial freedom. First project: he and his brother jointly purchased three properties.

Next, he looked at the data on the strong economic fundamentals in Alberta. He went to “Wild Rose Country” to see for himself. He travelled to small towns and talked with local realtors, property managers and legal experts. He flew into Edmonton, drove over to Leduc, and put an offer on a half-duplex. The sale closed before the end of the month and rented out within the following two weeks.

The strength of the Alberta team he built gave Justin the confidence to move forward in a location far from his hometown. And he did not stop there: in the following months he purchased an additional three half-duplexes in Leduc!

Even now, he continues to invest in Alberta and continues to work on joint ventures. He is branching out to include more family members and friends in these investments. He uses the techniques, strategies and tactics he learned through REIN – especially of turning Joint Ventures into “Win / Win” scenarios for his partners and himself.

While Justin does not consider himself a veteran, other investors actively seek him out for advice from his practical experiences. He allows access to his power team and resources. He helps new members with their questions because he recalls how other REIN members helped him in his novice time with REIN.

This story is exceptional, but not unique. It highlights how understanding and using the economic fundamentals delivered by REIN supports your real estate investments. His is not a story of overcoming hardship or adversity but one that many can relate to. Justin followed a system proven by veteran investors, left his comfort zone, and took action. He replicated what worked to create more.

Justin’s story demonstrates REIN’s role in helping our members apply proven buying strategies, and collaborate with like-minded investors and professionals who share a drive for success.

 

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