would i get anything out of joining an REI Club in a different county?? i mean does it really matter?
Yes you would, even if you went to another county, there is a possibility that there is someone from you county too. If I were you, Id just start you own club. But yes, you would get something out of going to an out of county REIA.
I’m with beaver…start your own in your county.
thank you for your advice BUT im pretty new to the game. i do have a mentor and he is teaching me a lot but i was told it would be very helpful to me if i were to join one… plus, how would you start one???
I myself do not have a club in my county. I must commute over an hour
and a half to get to the weekly meetings in my state. Is it worth it? yes, pretty much every investor in my neck of the woods goes to these meetings.
I have not started a club in my neck of the woods. But i do network with the people i meet in these clubs that live in my market area. So yes you will get ALOT of info out of going to the club in another county!!!
Once you get to these clubs, just ask around and find out how many people live in your area, and maybe they’d be interested in started something with you in your neck of the woods!!!
thanks for your reply. thats some good advise… although, i have a mentor. now would going to the meetings be helping me or hurting me??
It would always add on to your REI education. A mentor does nothing but help you get faster to the point of investing. So thats great that you have one.
so should i join a club too?? how will that benifit me??
I personaly think every RE Investor should be apart of a club, for the exact reason Beaver indicated above! There is nothing that is going to HURT your needs just for attending a club! All it will do is open up your eyes in more ways than one.
Good Luck with it!!! GO!!!
YES YOU SHOULD JOIN A CLUB!! You will meet other investors, some may be able to help you, if you ever want out on a deal, you could assign it to one of them, the list goes on!!
Maybe I’m stupid but what is the crux of your question, Jabbo???
Asking 4 or 5 times if you should join a club and 4 or 5 times being given the same answer tells me that:
(1) You’re not ready to join a club either mentally or emotionally,
(2) The club in question is more than 200 miles away,
(3) The club in question charges astromical entrance fees,
(4) Some combination of these…
Why don’t you find the club, call the contact, and find out if you can attend as a guest (most will let you by maybe having to pay a small entrance fee). If you can and the other factors listed above are not the problem, GO TO THE MEETING…period.
I’m not sure the members of his board can make this answer any clearer!
What possible harm could attending an REI meeting do to the information/education you are receiving from your mentor? His information is either good for the area you are in or it’s not. Attending an REI meeting is not going to change that.
OKAY OKAY OKAY, i understand and i will go to a meeting… what do i look or listen for to know in its a good club? also, does anyone know the Sarasota, fl area? thats where i will go to a meeting at! so can anyone recomend one in that area??
Check for nearby town/cities:
Hope this helps!
what do i look or listen for to know in its a good club?
Do any of the members know what REI stands for? Does the club offer guest speakers every month that may teach you something different each time? Are any of the members actually investing, either full or part time? Beyond that, it’s pretty much do you like being a part of the club?
One of the most important aspects of a club is the ability to network with like minded individuals. The possibility of getting, or selling, deals, finding a partner, etc. is definitely there, but the main thing is being able to talk to another person who actually wants to discuss REI, without telling you “it can’t be done.”
Benefits? Our local club is only a year and a half old (Catawba Valley Real Estate Investors Association, CVREIA, Hickory, NC) and we already have major discounts for members thru Sherwin-Williams, Office Depot, Home Depot, Avis car rental, and others. We have a slew of lenders/mortgage brokers that cater to the REIA and the members needs. Personally, these things alone are worth the annual fee.
BUT, there’s that possibility to make deals, too. Thru the REIA, I received a deal from a birddog (whom I paid $250) that I bought for $44,000 and lease/optioned for $65,000, which I got $1000 down and getting a $350/month positive cashflow. The birddog paid for his membership for the next 4 years just be answering his phone, and I did okay, too.
From that deal, I found another house in the same neighborhood that I bought, and then wholesaled for a $10K profit, one month turnaround.
Wholesaled another deal for a $5K profit to yet another REIA member.
Got another deal from a REIA birddog (whom I paid $350) that I bought recently and is already under contract where I stand to make $15K.
And finally, another member is considering buying another of my properties wholesale (if so, another $10K)
Recap: I spent $600 in birddog fees, $120 in club dues and got back in return so far $20K, plus another possible $25K in deals under contract, plus the $10-15K backend on the L/O.
Yes, I think that it’s a good idea to join a REI club/association.
I am very new at this - how do you learn about clubs and how do you get a mentor?
Thank you Roger
im loooking into different clubs now.