What is a REIA and Why it Should be your First Investment in Real Estate
WHAT IS A REIA?
You might have heard of the stock investment club model, like The Beardstown Ladies, in which members pool their money to buy stocks and bonds.
In a Real Estate Investment Association however you don’t have to pool money, or even have money because you’ll learn to invest creatively and legally by the best town.
Unlike hobbyists or clubs, the Real Estate Investment Association has experts in the membership who are making money full-time in real estate that newbies can invest with or simply learn the ropes from. The real estate heavyweights will donate their time as a way of giving back to the Association that has given so much to them.
R.E.I. Associations – also known as R.E.I.A. (pronounced REE-ya) has a group of real estate investors, known as R.E.I.A. members, that attend R.E.I.A. meetings and exchange advice, leads, and what-working-now strategies to succeed in real estate.
The local R.E.I.A. should be the professional Investors first investment in real estate. If you’re serious about real estate and you’re not a member- you’re not serious.
THE 21-TO-1 RATIO
Rubbing elbows with like-minded people is a big asset of a REIA. The association lets us learn whats working and hear the mistakes of others so we don’t have to make them.
The problem is that most REIAs have a 21-to-1 ratio: for every top level investor there are twenty one newbies. With a scarcity of experienced investors, newbies have a hard time connecting and picking the brains of the seasoned investors.
TAPPING OUR MEMBERSHIP
One of the reasons Fort Wayne REIA™ is such a popular group is that our membership consists of a very strong 5-to-1 ratio. Even more, many in our membership freely give of their time and talents.
Hearing from successful investors is a great way to learn the market and proves first hand that real estate can be profitable. Membership trainings includes:
» Paperwork for Buying & Selling
» Creative Deal Structuring & Negotiations
» Title Work and Closing Gotcha’s
» Screening Agents for your Team
» Doing Double Closings
» Using Real Estate Options
Many times your Association will invite local experts from the private and government sector to teach the membership fundamental topics such as a local real estate attorney covering asset protection, seller financing or appealing property taxes
If Fort Wayne REIA™ does not have a local expert in a particular area to teach those certain subjects we will bring in an expert from another city. Real estate matters such as building a buyers lisy, notebuying, creative investment strategies and how to use real estate land trusts are a must for real estate investors.
Sometimes these experts will have a book, service or home study course for sale that are approved by the heads of the Association. Good Associations will also enforce maximum quality teaching length per presentation and set limits on the amount of sales pitches so members get true value at every REIA meeting.
Your local R.E.I. Association© is a treasure vault for topics. –Robert Kiyosaki
NOT ALL REIAS ARE CREATED EQUAL
The R.E.I. Associations that are run by investors for investors, like Indiana’s official Real Estate Investor Association™ (the website you are on now), bring in local real estate heavyweights and top-ranked national educators who can teach and train on timely topics in the areas unique to what our membership requests.
We poll and survey our real estate investors to uncover the heart of frustrations, problems, and fears and then we go to work providing exactly what will help most. To date the highest requested items have been:
Real Estate Rehabbing
Seller and Lender Negotiating
Investing in a Roth S-IRA
Probate & Tax Sale Investing
Real Estate Assignments & Options
Business Lines Of Credit
Real Estate Shadowing & Mentoring
A 2023 survey of the membership reported members come together most to:
• learn from guest speakers & experts in the field
• network with new & experienced investors
• gain knowledge about investment ‘best practices’
• get hot tips about available properties
• become familiar with laws and regulations
• understand market trends and how to profit from them
More Fort Wayne investor-membership demographics here
REAL ESTATE EXPERTS AND NEWBIES AGREE
BUILD YOUR DREAM TEAM
And because professionals of other areas in real estate attend the REI meetings you can trade information with and about lenders, Realtors, and vendors for property improvements and services. This way you can quickly build the vital ‘REI Dream Team’ that is needed to survive and thrive in real estate.
YOUR SUPPORT SYSTEM
This supportive group of like-minded individuals with common goals is what separates an R.E.I. Association™ from simply buying books, courses, long-distance coaching or trying to pull off a solo act.
When Real Estate Investors meet it is a true association; that’s why it is called the R.E.I. Association™. It’s where meet in a safe, caring community and get motivated, get knowledge, build relationships and make deals happen. It is this specific combination of elements that has a powerful impact to help ordinary people do extraordinary things!
Real estate is awesome because it is not about IQ; it is about ‘I Will!’ And yes, that will lead to mistakes sometimes. But that’s what your peers at the REI Association are for: to bounce ideas off.
That’s why your R.E.I.A. should be your first investment in real estate. Don’t wait to get immersed in the local REI Association. If you’re serious about real estate and you’re not a member- you’re not serious. The most common theme I hear from real estate professionals nationwide wide is “I wish I would have joined sooner!”
Scott FladHammer, Wealth Education™
For Those Getting Started or Starting Over
If you are new investor there is no better way to succeed in real estate investing than to join a local real estate investor club and get in the game. Don’t buy a course, book or coaching until you go to the meetings and hear it for REAL: What Real-World Investors have to say whatever learning mechanism you’re considering.
New investors can easily understand who are the real players in the market and then try to shadow them. Many big names in real estate are approachable and open top teaching others.
Becoming a real estate investor is like getting great in any business, you must do two things:
Take action while learning; not waiting until you think you know it all before you get started, and, master the core basics and while continuing to stretch and grow.
THE IMPORTANCE OF THE REIA MEETING
Great REIAs provide a safe forum for their members to do all that and more, like network and save money on real estate rehabs. Top real estate experts and members agree, your local R.E.I. Association™ is a great place to meet other investors, agents, contractors, mortgage reps, and others in the “biz”.
Like other trades and professions, mentoring and coaching are extremely important; real estate is no different. That’s why Fort Wayne REIA is also a great resource for finding a mentor and getting real estate coaching.
BUT JUST JOINING ISN’T ENOUGH
You need to get plugged into the action by attending opportunities in the investors’ community to build relationships and connect with members locally and from across the country. The Fort Wayne REIA™ social opportunities are a great way to invest your time for a big return on investment. Mark your calendar and attend our other REIA Community events to learn, have fun, and build profitable relationships and support groups:REIA EVENTS + SUPPORT GROUPS
As an investor, you want to invest your time wisely for the biggest return on investment. So be sure to mark your calendar and attend our other REIA community events to learn, have fun, and build profitable relationships and support groups:
And you can engage online in the Community Showcase to develop a clear, compelling and high-resolution future picture of what you and your businesses can be. When you’re involved you’ll never feel alone in this business and always have the emotional gas to get going!
Members are also encouraged to see what areas they can help and get plugged here!
If you are looking for the one thing that will give you the fastest learning curve, the biggest edge and the highest exposure to supportive people who also want to better their future, then you owe it to yourself to be a member.