Hello BP. I want to join a Real Estate Investors Association in Florida. I live in Germany, but want to invest in Jacksonville and/or Miami. Is there anybody that is a member of these REIAs? Do you recommend joining more than REIA? Looking forward to your feedback. Thank you.
I am also interested in the Jax REIA piece to start networking in the area.
@Thomas Franklin fair point, and I agree! I haven't seen a lot of the guru/sales pitches here in Norfolk, but the Norfolk REI market is not in the same ball park as Jax. National REI pundits aren't pushing Norfolk as one of the top investment markets. In the near to intermediate future, my business will probably grow past the point of being able to operate strictly within the Hampton Roads market, and I can't afford to wait until that point to start piecing together a team in other markets - hence REIAs as a purely networking tool. BP is great, but nothing can replace the value of face to face networking. I am sure that you agree.
I have been a member of JaxREIA for 4 years now and I enjoy the connections I have made there.
@Dolly La Salle , I have two friend investors that I team up with that live close to Munich. Where are you in Germany?
JaxREIA is a great local organization with many wonderful people. But honestly, you will meet better people, better investors and network a lot better here on BP. I am not selling BP, but it is always here, the REIA meets once a month and then the guru comes in on Saturday and the REIA makes money off the "packages" purchased. So I always tell people to leave their wallet at home at the meetings. You can learn all you need to know here on BP.
Originally posted by @Thomas Franklin :
@Jonathan New Be careful of REIAs. Many of these give sales pitches, gurus try to sell their products or mentoring programs, or someone tries to get you to invest in a REI Fund by a group of people pooling their money, for some REI and promising an unrealistic return. I am sure there are good REIAs out there. In a large city, people are cut throat and motivated, by greed. I would suggest your decision to join a REIA is similar to buying a new vehicle. You take a new vehicle for a test drive before making a decision. Why not attend several different REIA Meetings before you decide joining a particular REIA?
Thomas Franklin, Thank you for your response. It's funny that you mention that. The Broward REIA is charging for a mentoring program. I'm not sure how much, but is this fee normal or not normal in RE? In other words, are there mentoring programs that are free?
I noticed that you are from Miami. Are you part of the Miami Dade REIA? If so, what do you think about it?
@Thomas Franklin Since I live in Germany, it is not so easy for me to test drive several REIAs and attend many meetings before I chose to go with one. Once I pick an REIA, I will go to the states to attend a major meeting/seminar. I see that you are from Miami. Are you part of the Miami-Dade or Broward REIA? If so, how do you feel about it?
@Tony Figurelli There is also a REIF-Jacksonville (Real Estate Investors of Florida)
http://reif-jacksonville.com/. I found them in the National REIA website:
https://nationalreia.org/find-a-reia/. I didn't see JaxREIA as an association in the national website. Do you know what the difference is?
Does JaxREIA offer mentoring?
Is JaxREIA really involved with meeting up and sharing knowledge or are they not too much involved?
I like in Stuttgart, Germany. It's about a 6 hour drive from Munich. If you don't mind me asking, how do you invest with your two investor friends in Munich?
@Jack Bobeck Thank you for your feedback. I wanted to join a REIA because many people have success stories after going to REIA meetings. I am really looking for a mentor and a group of RE Investors where I can meet face to face. I live in Germany, but will travel to the states to invest and meet with people.
Do you know what the difference is between JaxREIA vs Jacksonville REIF (which is listed in the National REIA website)?
Hey @Dolly La Salle !
I want to reinforce what @Thomas Franklin said in regards to attending a REIA and being sold. For this reason I help organize a meetup we have in Miami where its all discussion and no pitches. Should definitely RSVP here if you are able to attend. Feel free to reach out if you have any other questions!
@Thomas Franklin Thank you for the suggestion. I am currently posting it now.
JaxREIF is ran by Deborah Bracknell. Not sure how she got REIF on the National REIA site.
JaxREIA is the actual REIA for Jacksonville. A Board of Directors and Officers are elected every year by members. Check pout the website, JaxReia.org. You will see there are multiple meetings every month; quick start classes, open-mic nights, master series classes. Non-members can attend two quick start classes for free. There is a yearly REIA trade show which is this weekend. During the main monthly meeting held on a Thursday, a guru of some sort will host a class on their subject matter. Alot of free info with no or very, very little upsell. If you want more, the guru will have a seminar that Saturday. Now I haven't been to a Saturday guru seminar, but it is very likley that is where the upsell is.
Concerning how I invest with the contact in Germany. One of the guys I have known since somewhere around 2001, when he lived in Jacksonville for a few years. We have been good friends and business partners on a couple of ventures. He is an equity partner for rentals. He regularly comes back to Jax every year. The other gentleman is a mutual contact of my German friend that has agreed to invest with us. I met with him in Orlando recently to discuss formalities.
@Tony Figurelli Thank you for the info. Yes, I have been checking out all 3 REI(A)(F)(M ) sites. lol. I think I need a break from the computer. Anyhow, I received the email from JaxREIA's trade show. I SOOO wish I could attend, but it is too soon for me to plan everything out and buy plane tickets. Now that I have their information and signed up for their email notifications, I hope to meet with them soon. Are you going to the trade show? JaxREIA seems like an ideal REIA that I am looking for in order to learn and network especially since I want to invest in Jax.
That's good that you have international friends/business partners. I'm sure you all benefit from each other. I hope to one day be like them where as living overseas and have built an investment RE portfolio stateside.
Do you have any recommendations of any mentoring programs?
@Gabe Amedee That sounds like a perfect meeting! Beer and Real Estate. Ahh, can't get any better than that. lol jk. Unfortunately, I won't be able to attend because I live in Germany. If I was in Miami, I would DEFINITELY attend. I go to Miami once a year and will be on the lookout for your meetings.
What are your thoughts about BREIA and Miami-Dade REIA?
@Matt Berklacy Thank you for the info. I checked Skyscanner and it will cost over $1000 for the plane ticket. The Trade Show sounds awesome especially because of all the topics that will be covered. Hopefully, next year I can plan everything on time. Yes, Germany is nice. Do you know of any REI groups in Germany? I've been trying to find one, but no luck. Hope you enjoy the Trade Show.
@Dolly La Salle "I wanted to join a REIA because many people have success stories after going to REIA meetings. I am really looking for a mentor and a group of RE Investors where I can meet face to face. I live in Germany, but will travel to the states to invest and meet with people."
Are you investing in any properties in Germany? In your backyard? You don't need success stories out of a JaxREIA meeting to be successful investing in your backyard. In fact, investing in Germany is easier for you, since, well, you live there. A Real Estate Investment Association is a group of like-minded investors getting together to share their ideas and news and information with each other to help each of them with their real estate.
I say save your money, look in your city or towns for people who own a lot of real estate. Ask the store owners, call the owners, do the work to find the people who own and ask them your questions, perhaps they can mentor you as well. You can build a new business offering solutions to Yankees wanting to buy property in Germany. There are 1000s of things you can do there, which we cannot here. The last thing you need to do is get on a plane to attend a "trade show" of other investors hawking their 'wares' and solutions. The Trade Show is a great money maker for the JaxREIA and is another way the vendors can touch the members and discuss their latest products/solutions.
I like JaxREIA, I used to teach classes there and learned a bunch from great people there. I met alot of great people, but no mentor. You don't need a mentor, you need experiences. You need to fail, get up and get back to the path. You need to learn on your own. It sounds scary, its not, you can do it and do it well, but you do not ever need a mentor to take the step. Find people in your area with a like-minded attitude on real estate and build it.
I love Germany, we recently were in Cologne and saw the great Cathedral and local pubs. We have traveled the Danube and the Rhine rivers. Its a great country with really nice people. You have a great leader in Angela Merkel, and a great business climate. Best of luck to you!
@Jack Bobeck great advice. A lot of successful flips in cities like Berlin. The east is still underdeveloped and population growth indicators look good for cities like Dresden/Leipzig. In NRW its hard to find value now but if you were lucky to buy a few years ago in Hamburg you would be sitting on a gold mine now
@Jack Bobeck Thank you for all your feedback and advice. I do appreciate it. I started searching for people here in Germany that are into real estate. Hopefully, they will reply to my message. I will continue looking out for investors here to pick their brain. Well, for those who speak English. lol.
Yes, Cologne is very nice and it is famous for their Cathedral. I haven't sailed along the Rhine river, yet. There is a boat made out of logs that floats down the Rhine river. On this boat, there is a German music band, kegs of beer, and people hanging out. It sounds like a lot of fun. Hopefully, one day I will be able to do that.
@Jack Bobeck The market value here in Germany is sooooo expensive. I think it could be compared to California or probably more. However, like you stated, the flipping business seems more ideal so you can get more for your buck.
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