One of the first things I did when I was thinking about getting into real estate investing was to start going to my local REIA group. REIA stands for Real Estate Investors Association and nearly every major city has one. I am still very active in my local REIA group today, after almost ten years of successful real estate investing.
When I was a newbie, my local REIA offered some great speakers, courses and programs that really helped me get going down the right path. I can recall attending many a Saturday workshop on subjects like landlording, rehabbing, flipping properties, income taxes, business structure, business systems, private money and many more.
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Eight Reasons to Join a REIA
Yes, I am a lot more experienced now but I still go to my local REIA meetings. Here is why:
- Networking – I get to talk shop with many other local investors. Plus I meet new people, such as contractors and other professionals that help my real estate business.
- New Friends – I have met many, many new friends that I otherwise would not have had I not been active in my local REIA.
- Advice – Many of these new friends have decades more experience than I do. They have experienced and solved the problems I am dealing with today that are new to me. Their advice is only a phone call away.
- New Ideas – My REIA group brings together a variety of real estate entrepreneurs from all over the world at times. It is great to talk with these folks and share ideas and come up with new ones.
- Local Issues – My local REIA group has an active governmental affairs committee that keeps us informed of local and statewide issues that could affect my business that I otherwise may not find out about until it was too late. Plus, when the government is involved, there is power in numbers. My local REIA gives me the numbers.
- Education – I still like to attend many of the educational programs. Just one or two new techniques could make or save me thousands of dollars!
- Camaraderie – Most investors often work alone and we are not able to gather around the water cooler and commiserate for a while. My local REIA gives me a sympathetic ear.
- Deals – I have signed contracts in the back of the meeting room.
There are a lot of great sources for real estate education out there, such as this website, BiggerPockets, of course, books, courses, etc. But there is nothing like being able to interact with other local investors. So read this website. Read those books and join your local REIA. If you don’t have a local REIA group near you, maybe you can start one.