Benefits of Joining a REIA REIAs are organizations devoted to supporting and training all investors, from new to experienced. The benefits of joining are plentiful and diverse.
Education Many members first seek out a REIA for education. National REIA and its Chapters and local affiliates seek to be the real estate investor’s number one resource for education. Although the Chapters and locals vary significantly in their programming there are a few things that remain consistent: associations offer a monthly meeting. These meetings consist of a speaker, whether local or national, that provides information on investment strategies, legislative updates, success shortcuts and possible pitfalls, or just helpful general business practices. These meetings also provide the forum for the best education of all – networking with others that have “been there, done that” and can give practical advice that is key to developing a successful investing method. Some groups have gone beyond the networking base of the monthly meeting and provide coaching/mentoring or at least a subgroup format that supports individual interests such as rehabbing, landlording, or creative acquisition and disposition. Much of the same informative material is available through the group’s newsletters or their online resources. Many members say they benefit by having their eyes opened to how broad the business of real estate investing really is. They come into a REIA with a preconceived notion of what is available and how business should be done. They believe there are limited ways to make a profit in real estate but over time acquire an abundance of potential strategies. For example, many people believe that getting their hands dirty through rehabbing, or dealing with tenants are the only proven ways to be an investor. There are actually some very smart strategies that allow you to make money without breaking a sweat. REIA groups are an inexpensive way to find out if real estate investing is for you. If you find that investing is something you want to pursue the REIA groups are certainly the most economical and effective way to get your real estate investing education. In this digitally connected, “everything I need I can find online”, age it is tempting to get your information and education online exclusively. Using online real estate training as your only source is like wandering into the forest to forage for food alone at night. Yes, the forest has an abundance of food. Yes, it could be relatively easy to find under the right
circumstances. However, being in the dark and alone is not the optimum way to search. REIAs shed light on multiple investing strategies so you can find what works for you and you can target the education best for you. We keep you from going it on your own and provide feedback from peers and association leaders about “experts” offering good education and insight into those offerings that are poor quality, overpriced, potentially illegal or just plain won’t work. Using the group as a resource is invaluable.
Discounts, Access and Special Offers Other benefits of the group are the discounts on benefits and services offered by both local vendors and those that are passed down from National REIA. These discounts can save investors more than twice the cost of membership every year if utilized on an ongoing basis. These discounts cover a wide range of needs from paint and home improvement materials, to resident screening and office supplies. Can’t find a contractor or appraiser? Check your local association’s list of vendors. Many may offer a discount to the members or at the minimum can offer a referral from a fellow REIA member. These discounts, services, and lists or access to information are seen as tremendous value by members.
Networking and Connections For the advanced investor, the larger benefit of the group is the networking and the ability to stay “plugged in” – informed of changes in legislation and the economy. Many groups also have advanced investor content and subgroups. There are constant changes in the way investors need to do business and to accommodate these changes. The savvy investor stays ahead of the game and isn’t caught unaware. Everyone needs to sharpen their tools at some point. New strategies and techniques are appearing on an ongoing basis. Even an “old dog” can learn “new tricks”, and profit by doing so. It is a fact that one of the fastest ways to build any business Continued on Page 28
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