Real Estate Investor · Elkhorn, WI · Member since 2008 · 453 posts · 104 votes
I think this is the right section to put this in, if not...I apologize.
The area which I am moving to is great for rentals...but there is no REI club. Although I don't really want to spend my time putting one together, I think it is essential to have one in the area. How do I go about getting one started? Also, although I have been doing research for a long time, I'm essentially a newbie. Can I still start something without having a huge amount of experience? All suggestions are welcome.
thanks
-Rich
There's a guy here in Fort Wayne that is a full time doctor of medicine and has 1 rental. He put together a page on meetup.com and found about 15-20 members that way and started his own little REIA. He also had little experience but did make it happen.
Hi Rich,
You're not too far from CCIA which is Chicago's largest, longest running and easily most respected club. I have been to their meetings and they are good. They meet at the College of Dupage the third sunday of each month. Jane's been at the club thing for 30 years and does a good job of it. Product is sold at each meeting so be ready for that part, but the networking is good. Nevertheless, starting one within your area that works specifically to your area is a very good idea. You pick up information and leads on deals from people that don't have the time to get out to Glen Ellyn.
"Although I don't really want to spend my time putting one together, I think it is essential to have one in the area. How do I go about getting one started?"
The best way to start one is to just start it. A good friend of mine started with 3 people meeting and it grew to 100 within two years. Just go for it and start it.
"Also, although I have been doing research for a long time, I'm essentially a newbie. Can I still start something without having a huge amount of experience? "
The same aforementioned friend had no experience when he started his. Your purpose as a REIA leader is to get people into the room and get experts in front of them. Find the experts (who have experience, not just something to sell) and that will take care of the experience issue. West Suburban's Landlord Association will probably be your best resource for experts as it relates to rentals in your area. See who they have speak.
Contact me when you decide when to have your first meeting and I'll help you market it through some free sources that help a lot.
Not really sure how you came to the conclusion that there aren't any clubs nearby.
In McHenry you have the Northern IL REA run by Gladys Gort
There is also the Lake County Apt Owners Association. I think that is run by Mel Metts.
Heck the WCRT gets people to come to Elmhurst from Beloit, Racine, Gurnee and even Chesterton Indiana. How far would you travel to meet the person that would be the private lender you needed? Or can teach you the one thing that puts you over the hump?
There are tons of clubs in the Chicagoland area to include a few in Milwaukee. I honestly think there are almost to many meetings sometimes.
Check out the listing of meetings that Josh has assembled here on this site at: http://www.biggerpockets.com/real-estate-investment-clubs.html
Hey Rich -
I haven't been to one of Ryan's meetings, but he's a great guy, and you should definitely check out one of his meetings if it isn't too far for you to go. If you can't find anything locally, using Meetup or Craigslist to get a group of local folks together to discuss real estate is a great idea. If you are looking to formalize the group and build it into something substantial, just be prepared for a huge time commitment.
Not really sure how you came to the conclusion that there aren't any clubs nearby.
In McHenry you have the Northern IL REA run by Gladys Gort
There is also the Lake County Apt Owners Association. I think that is run by Mel Metts.
Heck the WCRT gets people to come to Elmhurst from Beloit, Racine, Gurnee and even Chesterton Indiana. How far would you travel to meet the person that would be the private lender you needed? Or can teach you the one thing that puts you over the hump?
There are tons of clubs in the Chicagoland area to include a few in Milwaukee. I honestly think there are almost to many meetings sometimes.
Check out the listing of meetings that Josh has assembled here on this site at: http://www.biggerpockets.com/real-estate-investment-clubs.html
See ya Thursday maybe?
Sorry for the misunderstanding. The area in which I am movnig to does not a have an REI club. My current area has tons of them. But I've started my own club on meetups and we have 8 members already.