What is a REIA? I previously wrote about how to break into real estate investing, and some of you had questions about how a REIA works, so it's a question I heard a couple of times. Let's dive right into it!
What does REIA Stand For?
"REIA" stands for Real Estate Investors Association. You'll hear the term REIA used often in the real estate investing world. It's one of those acronyms that's just way easier to use than it is to say "Real Estate Investor's Association" every time you use the term.
Okay, What the heck is a REIA?
A REIA is a group which offers support to real estate investing professionals of every level.
Where can I find a REIA?
Most metropolitan areas have a REIA. And some areas that wouldn't be considered "metropolitan" at all have them, too. The best way to locate your local REIA is to do a web search in your area. Many REIA's will have websites to connect you with events that they have scheduled for their members. The regulated and best ones are listed at www.NationalREIA.com as a Chapter member of the national association.
But I'm not a "professional" investor! Can I use a REIA?
Of course! I said "every level", right? In fact, utilizing the resources that a REIA offers may be the most important thing you can do as a beginning investor. Why? Because it points you in the right direction immediately in terms what you need to do to get started "the right way". By joining a REIA you'll get help with strategy and resources, two invaluable assets as you are getting started. You'll also have the opportunity to network with some great people of knowledge in the group, and possibly even partner on deals!
Does REIA cost money to join?
Most of the time a REIA will have a membership fee, as many associations do. Don't let this get in your way! Many REIA's offer you the chance to attend their first meeting for free before you make the decision to join. And pricing is usually quite reasonable (at our REIA, it costs only $149 for an individual yearly membership, and only $189 for a couples yearly membership. Not bad, right?
What happens at a REIA meeting? What does my membership give me access to?
All REIA's are different, but most focus on giving you access to quality information that will help propel you to a successful career as an investor. For instance, a typical REIA meeting might play out like this:
- An introduction by the REIA founder, who is often a successful investor themselves.
- An "open mic" session, where members can offer services, propose deals, or offer information to the group. (Many a successful partnership has been formed at these sessions).
- A "special guest" who offers some sort of educational content.
- A chance to mingle and speak with other members in order to network
You can see why joining a REIA can be a great idea, right? At the Appleton REIA (which I personally run), we believe that each meeting should offer: Education, Resources, and Networking. If you take advantage of those three cornerstones at your local REIA, you'll be well on your way to a successful investing career.
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Appleton REIA on YouTube
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