How Do I Find a Local REIA Club and Why Should I Go?
From Tom Nardone, Millionaire Mailman…
I get the question about REIAs all the time from students…
Well, REIA clubs have been around since the late 1980s. If you’ve never been to a local REIA club (Real Estate Investment Association) in your area, you should go. It can be a valuable place to network with others and build your Power Team.
Where do you find one?
Start by going to the National REIA website. Look up a club in your local area, and even if it’s a 2-hour drive for you to attend (assuming you live out in the boonies) - it’s usually worth the drive.
There is typically a small fee of between $5 to $20 to get in at the door. Many 1st- time guests usually get in for free on the first visit, but that depends upon the club. Then there is usually a monthly fee to attend or a discounted annual fee to join for the year.
What’s in it for you? There is typically a lot of networking going on and the opportunity for you to meet other investors, so bring lots of business cards with you.
Most REIA clubs have corporate members. These are members who get to ‘pitch’ their business services to the club and explain what their business can offer the room of investors. Obviously, it’s worth saying again - this is another reason why REIAs are a great place to look for people to build your Power Team.
You will typically see:
- Real Estate Lawyers
- Title Companies
- Mortgage Companies
- Hard Money Lenders
- Inspection Services
- Termite and Mold Remediation Services
- General Contractors
- Insurance Companies
- Property Wholesalers
This you’d want to business with those types of people? Um… yes!
And, there is usually a main speaker or guest speaker who could be local or from out-of-town talking about a nifty service or software or market approach to finding and closing deals that gives you a unique advantage to the market.
Here’s how I know…
From 2005 to 2011, I was on the REIA club circuit speaking at most of the larger clubs around the country to offer my ideas of networking with mail carriers, who could become your bird dogs to find deals that no one else can find.
That was my niche on how I got started in real estate investing, which was by finding deals on my mail route as a carrier. True story, hence the name “Millionaire Mailman.”
Speaking at these REIA meetings gave me the chance to meet people all over the country and make a lot of great connections – many of which I still have today! I had a lot of fun educating people and made life-long friends in the process.
You can do the same without having to travel around the country - you can do it on a local level at a REIA club near you
I still attend local meetings in South Florida, and every few meetings someone tells me about a house that turns into a deal that I close and make a nice profit on.
So, visit your local REIA club and get plugged in.
Enjoy the Journey!