(HOW TO) START A REIA

3 Replies

Greetings-

We have recently moved back to Western Wisconsin after living in Boulder, CO for 6 years. There is no REIA in the area here and I know there are many investors throughout the area with 3 universities in the city & a solid local economy. I have 2 duplexes and am renovating the house my wife and I will be moving into early 2018. My family has 40 years of property management experience and I have a number of friends and contacts who have various interests and activity levels in the space.

Starting a REIA is something that I'm interested in undertaking and have heard it referenced many times in the podcast and also across the forums. I would love any insight that anyone has about how to get one started, a solid place to host, how to spread the word and also how to get a solid crew of active investors and not just people slogging for funding first deals.

Much appreciated & happy holidays.

First double check to be sure there truly isn't one on meetup.

After that it's pretty straight forward. Figure out a name, go talk to a couple local breweries and decide a date. Finally advertise it on here and places like meetup. 

You'll want to determine what sort of group you are. The one I run is more networking heavy and not too heavy on the classes. It takes less work and gives a more communal feel. If classes are what you want to do you'll need to do some networking of your own to pull in speakers. 

Overall just don't overthink it. 

@Joe Sampson I host a free REI meet up in NYC. Alot of the "usual suspects" no deals and afraid to get started types. However there are some deal holders, title Co, realtors, lenders etc who also show up. Best advice I could give man is not to allow pitching. Keep the meet ups casual. You will be the center of the group so you should make yourself available to give everyone a few min of your time. I start every meet up with about 15-20 min to tell everyone who I am, what I do and then go around the room to ask everyone what they are doing presently. Kind of an ice breaker. Then we all break out into networking. That's my formula. I host my meet up at a Irish bar in a trendy neighborhood in Brooklyn NY. I promote it here on BP, maybe FB/IG and Meet up.com. Keep things light and simple man and your following will grown. All the best!!!

The best formula for starting a REIA, is to first start to connecting with successful investors in the area on your own. Look up people here on BP in the area and connect individually. To keep the REIA going and keep it fresh, it will take a couple of seasoned investors. If it is just you, you may find you are always talking to newbies who never do anything and all the meeting content is forced on you. Some REIA's do presentations and networking, some do strictly networking.

Meeting time and date consistency is a must.  Its always the "X Wednesday of the month".   After you get a name and meeting time down put it up here on BP and then create a FB page as well.  Meetup.com might be another good place to list it though I haven't used it before for hosting, I've used it for finding meetings.  

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