One of the best things you can do when learning about real estate investing is to attend REIA meetings as much as possible. They give you a chance to grow, learn, network, and build relationships with various real estate professionals in the local market.
More importantly, REIA meetings take your real estate investment business to a new level. You meet potential investors, business partners, private lenders, cash buyers, agents, mentors, wholesalers, and others in the real estate area.
Do you wish to be taken seriously as a new real estate investor? Are you hoping to meet real estate partners and mentors to grow your business?
Understanding what a REIA is can help you get more rental properties and understand the ins and outs of real estate. Let's get started!
What is an REIA?
Real Estate Investor Associations are trade organizations for real estate investors. You get an opportunity to learn about networking events and market updates to bring everyone together who is interested in real estate investing! It's a beautiful thing!
What Are REIA Meetings?
REIA meetings allow interested parties to learn more about the investing aspect of real estate. They meet regularly to network. Typically, they're held every month, but no set rule or standard governs how often they have to take place.
You're sure to find many experience levels at the meetings. These consist of investors who've never completed real estate deals to those who have finished hundreds.
A local REIA is where you find others interested in working together to grow everyone's real estate investing business. You also get information about real estate investments that you can't learn from a book or YouTube. Meet other real estate investors at your Real Estate Investors Association meeting and enjoy better things.
REIA Meetings costs
Some monthly meetings are free, but others charge annual or monthly membership fees to support the real estate investment group. If a local REIA organization charges, it's only about $10 or $20 for each event. Many Real Estate Investor Associations have memberships with discounted rates if you pay yearly.
Become a REIA member, pay a little bit to understand your real estate business, and surround yourself with real estate pros!
Importance of REIA meetings
You've probably heard the saying, "If you build it, they'll come." This is an amazing quote and is found in the Field of Dreams movie. However, most beginning real estate investors take it to heart and apply it to the business.
Sometimes, those new real estate investors create their business (build it) and expect the money to come to them without any extra work. That philosophy is flawed!
Starting your business is the first step, but it's not the only thing you require. A motivated seller doesn't get leads, and cash buyers don't just appear on demand. Real estate agents with off- and on-market deals don't call out of the blue!
Instead of the Field of Dreams philosophy alone, you should focus on building it and letting others know it's there.
Let the network know about your services and business. That builds momentum and gives you a chance to make a profit and have a positive influence on others.
To be successful in real estate, you have to build a business, tell others, and grow it. That's why REIAs are crucial. They're the platform that helps you explain who you are, what you're about, and why they should work with you. Because of that, real estate investors association meetings are the best place to kick start your company!
Let's learn more about the benefits of these services and the education they offer:
Learn about Real Estate Investing
Whether looking for Texas REIAs or something else, every real estate investment market is different and has various legalities and laws. You can learn about them through a REIA meeting.
Network with Local Real Estate Investors
Wherever you live in the US and whichever association you join, for example the Texas REIA, the goal is to network and meet those other real estate professionals who claim to be "investor-friendly." They are pros who want to work with people like you (real estate investors).
Real estate investing is one of many areas in the industry. Some people don't work with investors at all. When you attend a Texas REIA for example, you're using your time wisely and networking with other members who also want to deal with investors.
You can connect with agents, brokers, lenders (private and hard money), lawyers, fix/flip, tax professionals, escrow companies, and real estate pros. These are crucial relationships to build while creating an investing team.
Access the MLS
The MLS (Multiple Listing Service) is crucial for all serious real estate investment professionals. It's a database of the houses on the market in a particular area. Plus, it's updated each day with new seller leads and deals.
New members can access the MLS through a Real Estate Investor Association meeting.
Find and Meet Cash Buyers for Wholesale Real Estate
Most wholesalers ask how to find local real estate investors to buy those deals. You've got to go where they hang out, and that's at REIA meetings! Investors who buy wholesale real estate are "cash buyers" and pay you a fee for a home that meets their needs.
You can find such cash buyers, build rapport, and learn about the property types they prefer. That means when you've got a deal under contract, you know they already want it!
Wholesaling real estate offers many networking opportunities and is an excellent way to start investing. Just "flip" the properties with no experience, little money, and less risk. New members often enjoy this aspect of the group, and there are so many others to like, as well.
Rebate Program from Home Depot
Certain REIAs offer rebate programs from Home Depot for REIA members. The SDCIA (San Diego Creative Investor's Association) is one of them. You can save 20 percent off on paint, 10 percent on some cabinetry, and get two percent off on every purchase.
Renovations are often the most expensive part of your real estate investment. Saving money on supplies is huge. Investors can also check with Office Depot and others!
Create Luck as a Real Estate Investor
One of the best benefits is creating your own luck by attending REIA groups. It's easy to give yourself opportunities to succeed by checking upcoming events and knowing what's happening in the industry.
Attending REIA events helps you create luck because you're literally standing shoulder-to-shoulder with people who already wish to invest with you. They are often millionaires, people who need to sell homes, and others who want a joint adventure with you.
You might not meet them each time, but you're bound to run into them at Real Estate Investment Associations. That means more success faster so that you've created luck for yourself.
For example, let's say you met a professional at a REIA meeting eight years ago. They're standing at the back of the room, and you go up to them, introduce yourself, and find out what they do.
Come to find out, he's a real estate broker, so you two meet for lunch, you get access to the Multiple Listing Service, and he invests in various deals with you to flip countless houses! He turned out to be a great mentor and partner.
REIA Meetings dress code
New investors are often intimidated by REIA groups because they're unsure of what to wear. Should you go in full business attire or wear jeans? Here's a breakdown:
Don't just wear any old things to local REIAs because a first impression is important. You know that people automatically decide everything about you in a matter of seconds, and you want to present yourself well.
You should never wear:
- Holy jeans
- Flip flops
- Sweat pants
- Revealing clothing (workout clothes, tank tops, low-cut blouses, and short skirts)
- Anything politically suggestive
- Tattered or torn clothes
- Anything with offensive or vulgar wording
Overall, the goal is to choose between business casual and business professional. You don't always have to choose a suit and tie, but it does look nice. A button-down shirt, nice shoes, and slacks are fine. Some people even pair a blazer with dark-colored jeans.
REIA Meeting structure
Remember that all Real Estate Investors Association meetings aren't the same. You're sure to find some held in an auditorium with 50 or more people attending. There might be small-dinner versions with 10 or 12 people there.
Sometimes, Real Estate Investors Association meetings charge you for the event, and others don't. There's no set-in-stone procedure for anything. In fact, each one is a little different and often run by private companies or individuals.
With all of that in mind, consider attending and exploring different ones. You're bound to find some that are better than others. For example, there could be more/fewer people, higher/less quality professionals, and various education topics covered.
The goal is to find other investors with the same ideals and needs you have. Choose the most serious people so that you can jump-start your business. It's best to go to as many of them as possible when you're starting out.
Your First Meeting
You've made it to your first REIA meeting and wonder what to expect. It's an exciting and necessary step in your career, but it can also be nerve-wracking.
Don't be afraid or embarrassed; everyone had to go to a first meeting at some point. They were probably nervous, too. Once you go consistently, it's a habit you make for yourself.
The point is to go outside of your comfort zone to win. There's no shame in hanging back initially and watching what happens. However, don't end the first time without gaining knowledge or talking to another person. Networking is what it's all about!
Overall, you should attend more meetings to become less nervous as time goes on. You soon get the hang of things, start making business relationships, and can carve out your path.
Remember the bigger picture: you're in real estate to get money for your family, make tons of money, and achieve financial freedom. It's important to keep track of your "why" for doing this. That fuels your endeavors and pushes you through the obstacles of doing something new.
Nothing bad can happen at these meetings. You meet tons of people from all walks of life. Some might be real estate pros, and others have no experience at all. Just blend in because you're sure to fit in, regardless of where you are in your journey.
Those who just can't fathom going alone might want to invite a friend to come with them. They don't necessarily have to be interested in investing, but it helps if they are. You've now got someone with you, so you've got a backup if you feel uncomfortable or no one is talking to you.
Don't feel obligated to bring someone along, though. Just know that if that's what it takes to get to that meeting, use it and make life easier!
Finding REIA Meetings
The easiest way to find REIAs is to visit our real estate investor association directory.
This directory has tons of information about Real Estate Investor Associations, and you can filter results to find Texas REIAs and those in other states. From there, just visit each REIA website to learn more about it, find event dates, and sign up for each group.
There are many opportunities available for investors, and this is your chance to find them!
A national REIA is actually a group of different associations or investment clubs throughout the nation. They don't include service investors only; you can also find landlord, property owner, and apartment associations.
Overall, a national REIA is a 501(c) 6 trade non-profit organization. Some groups are part of the federation, and others aren't. However, that shouldn't be the only determining factor to decide to attend Real Estate Investors Association meetings.
This ultimate guide has given you plenty of information on what happens at local REIA meetings. Most of the pros never even received such help, so you're better off than they were!
As with all good things in your life, you can't sit back and wait. Real Estate Investors Associations can help you get investment advice, find resources, boost your knowledge, and attain financial freedom. Networking is a huge part of real estate, and this group style ensures that you've got what it takes to succeed!
Just know that you must build it and let others know so that they come to you! Everything you need is just a REIA group away!