First Rental Property

If you are interested in buying your first rental property and you do not have the funds that are required, you have to determine where you are going to find this money, if you want to eventually buy your first rental property.

One method of acquiring money is through finding a Joint Venture Partner.  In a classic joint venture partnership, the money partner provides all of the required capital, and the real estate expert does all of the work.  A fair trade off.

Many new investors tend to find it difficult to attract joint venture partners.  Often times new investors complain that they are having no success in finding joint venture partners.  New investors are often baffled at the ease at which experienced investors are able to secure joint venture capital.

The more experienced a real estate investor is, the more ease they have in attracting capital.

New investors should not sit on the sidelines and sulk because of this.  Rather, new investors need to study the principals that make experienced investors good at attracting partners.

My friends, it all comes down to one word:

CREDIBILITY

[youtube]http://www.youtube.com/watch?v=uAN7uRALf8M[/youtube]

People will invest in YOU if you demonstrate to them your credibility.

So what can make a new investor, who is struggling to find joint venture partners credible?

4 things can.

Here they are, in random order.

1)  Get some credentials

What makes you knowledgeable in real estate investment, other than you interest?  This is a valid question that many joint venture partners may ask you.  You need to demonstrate to your potential partners that you do have specialized knowledge in real estate investment.  This can be done by being an active member of real estate investment groups.  Many of these groups serve as tremendous information and networking centres.  Many real estate investors only become successful due to their association with these investment clubs.  Personally, my success in real estate investment has skyrocketed ever since I made the decision to join real estate investment networks.  The best Canadian real estate investment group is, The Real Estate Investment Network, REIN.

Once you are a member of a few of these investment groups, let it be known!  Put these credentials on your business cards, in your e-mail signature, and draw reference to your association within these groups when speaking to potential joint venture partners.

2)  Get published in a leading newspaper or real estate industry magazine

Increase your credibility by being published by the media.  Contact the editor of a newspaper or magazine and ask them if you can contribute to one of their upcoming editions.  Write about a topic, that people will be interested in reading about.  This topic that you chose should demonstrate that you have knowledge in real estate investment.  You can write about any topic that you want.  Remember, that you do not have to be a complete expert on this topic, you just need to know more than the general public about this topic.  If you know more than the general public, then you are coming from a position of expertise…because you know something that they do not.  You are sharing your knowledge with them. Sharing is caring.

If you are struggling to find a topic to write about, you can easily come up with a topic idea by doing the following…

3) Read at least 5 of the best selling books in the real estate industry

This point is crucially important, as this will help you to increase your knowledge.  Many of the leading minds in your industry wrote these books.  As a result, there is a wealth of knowledge in these books, and much that you can learn from them.

4)  Become a real estate speaker

Becoming a real estate speaker, can take your credibility through the roof.   Speakers generally have a noteworthy amount of knowledge on the given topic that they are speaking about.  When someone says that they are a real estate speaker, this carries a certain degree of weight and people respect this.  This shows that you are an action taker and a go getter.  Someone with knowledge, who is getting out there and sharing their own knowledge with others, who serve to benefit from this knowledge.

To demonstrate to you that I practice what I preach, as a real estate investor who is actively attracting joint venture partners, I am:

• A BRONZE Member of the Real Estate Investment Network, and co-organizer of the REIN Hamilton Mastermind Meetings
• I was featured in the October 2009 issue of The Canadian Real Estate Magazine

• My 5 favourite books on real estate investment and investing in general are:

1. 97 Tips For Canadian Real Estate Investors – Don R. Campbell
2. 51 Success Stories From Canadian Real Estate Investors – Don R. Campbell
3. Real Estate Investing in Canada: Creating Wealth With The ACRE System – Don R. Campbell
4. Investing In Rent-To-Own Property:  A Complete Guide For Canadian Real Estate Investors – Mark Loeffler
5. Rich Dad, Poor Dad – Robert Kiyosaki

• I am also a real estate video blogger, speaking in numerous short videos on YouTube.  You can check out my videos on my YouTube Channel.  My audience for these videos are novice real estate investors.

For my latest real estate speaking opportunity, I am presenting at a real estate investment conference for W & B Academy. I will be speaking alongside a Senior Market Analyst from Canada Mortgage and Housing Corporation.