scroll down for pictures of REIA leaders on the 2018 National REIA Cruise
If you are a REIA leader, this article will provide valuable information about the characteristics of REIA members and how you can bring unbiased training to your REIA meetings that will help you grow and retain your membership.
You can also watch here a 9-minute video clip my presentation on the 2018 National REIA Cruise that will help REIA leaders be more effective.
In this video clip, I was never so happy to be interrupted in the middle of a presentation (about the multiple great benefits of part-time real estate investing), by Charles Tassell, Chief Operating Officer of National REIA and Rebecca McLean, Executive Director of National REIA. Charles and Rebecca spontaneously provided compelling and enthusiastic support for concepts that will help REIA leaders be more successful in understanding their membership, increasing their membership and bringing value to veteran members and new real estate investors alike.
Following are three realities that support your success as a REIA leader.
1. Most REIA members are part-time investors and will never be full-time investors
If you are a REIA leader, you already know that about 5%-10% of your REIA members are full time investors. At least half (or more) of REIA members are part-time investors. The remaining REIA members are wannabe tire kickers (sometimes transient) and will never pull the trigger to buy an investment property.
Considering that most REIA members are part-time investors, it is interesting that almost all the real estate gurus (except me) promote their products with the message that you should be become a full-time real estate investor to achieve your dreams of wealth. My program (The Smarter Investing home study course) is different in many ways, one of which is that I promote the ability to achieve simultaneous happiness and prosperity by being a part-time real estate investor purposely and by design.
You can’t argue with reality. The reality is that most investors are indeed part-time real estate investors.
Flips: 69% of the 44,000 single family home flips in the 1st quarter of 2017 were performed by investors who flipped only that one house during that quarter (ATTOM Data Solutions, 2017).
Rentals: 89% of 17.7 million single family home rentals in 2016 were owned by people/entities that owned 10 or less single family home rentals (Altisource-Rentrange, ATTOM Data Solutions & NMHC, 2016).
It is no wonder that most of your REIA members are part-time real estate investors. Part-time real estate investing works in the real world and is the most common practical way real people invest in real estate.
Your REIA programs should cater to part-time investors by design, not just to full-time investors. Maybe the gurus who speak at your REIA’s should encourage people to transition into real estate investing as a part-time investor (like I do) instead of trying to push everyone to quit their jobs to work exclusively on the one magic strategy that “fits everyone.”
2. All real estate investors should evaluate the pros and cons of all real estate investment strategies As you hear in the video clip, Charles and Rebecca, the leaders of National REIA, highlighted the need for all investors to properly evaluate all of the various real estate investment strategies. They noted that while most gurus promote one strategy or another very effectively, all investors especially newbies, should be exposed to the advantages, disadvantages and operational aspects of ALL 4-5 primary real estate investment strategies.
More than half of our performance in life, happiness, prosperity and relationships depends on a few crucial strategic decisions we make (like choosing and occupation or a spouse) while less than half of our performance depends on how well we execute those strategic decisions. Yet many people invest just a few minutes per year on strategic planning and 99.99% of our time is dedicated to perfectly or imperfectly executing our poor or non-existent strategic plans.
As Rebecca says in the video clip, many newbie REIA members are enamored by the message of the guru of the month about how to achieve riches, then are confused a month later when the next even more entertaining guru makes an equally strong case to buy that package. The compelling message that Charles Tassell, Rebecca McLean and I are urging REIA leaders to promote for the benefit of the members is to encourage every member to properly evaluate the pros and cons of each of the primary real estate investment strategies so that every individual can customize a personal strategic plan for their specific situation! The reality is that one size does NOT fit all. Let’s give the members the tools to choose the right real estate investment strategy for each member.
3. Invite Marc Halpern to speak at your REIA
As Charles and Rebecca noted in the video clip, National REIA and Part Time Investors LLC are integrating our strengths to provide training to REIA members to evaluate all of the primary real estate investment strategies and do this in a practical manner that speaks to the majority of REIA members.
Who are in this majority of REIA members? Part-time real estate investors.
Which strategy is best for part-time real estate investors? It depends on each individual investor’s situation. All investment strategies should be evaluated, as illustrated in the slide shown above from my 90-minute presentation entitled “Full-Time Income from Part-Time Investing” and my Saturday Workshop entitled "Achieve Financial Freedom and Happiness from Part-Time Investing."
Now contact me to book these presentations for your REIA later this year or next year.
At the moment, my 22-hour Smarter Investing home study course is available as streaming video at https://vimeo.com/ondemand/smarterinvesting/ (watch the trailer!). In the near future, this course will be split into 30-40 minute segments and will be added to the National REIA University Professional Housing Provider training program.
The Smarter Investing home study course includes 4 hours of training on strategic decisions making for simultaneous happiness and prosperity for every day of the rest of your life, 10 hours of training describing the practical details of four primary real estate investment strategies (including advantages and disadvantages of each), 4 hours on financing (including self-directed IRA’s and Roth) and 4 hours on optimizing personal performance for all investors (including family members).
The detailed contents of The Smarter Investing home study course are as follows (duration hr:min in parentheses):
Achieve Financial Freedom Through Successful Part Time Real Estate Investing (1:36)
How to Measure and Set Achievable Goals for Happiness and Prosperity (1:27)
Should I Flip-Rent-Wholesale-or-Lease-Option (1:04)
Top 10 Essentials for Successful Flipping (1:33)
How to Choose Renovations for Profitable Flips and Rentals (1:08)
Fund a Rental With a Flip - Case History Analysis (1:17)
How to Choose Houses for Rentals (1:31)
How to Establish Acceptable Standards of Behavior with Tenants, Tenant-Buyers, Other People's Children and Other Humanoid Life Forms (1:30)
Wholesaling...From the Buyer's Perspective (0:45)
Overcome Barriers to Buying Your First or Next Investment Property (0:35)
Leverage of OPM - The Good, the Bad and the Ugly in Real Estate Investing (1:25)
Private Lending Is Great...Until It Isn't - 19 Things That Can Wrong When Private Lending and How to Avoid Them (1:23)
Self-Directed IRA's versus Self-Directed 401k's - Advantages, Disadvantages & Examples (1:09)
Self-Image Tune-Up to Improve Personal Performance (1:35)
Decision Making Happiness and Lifestyle Aspects of Real Estate Investing (1:11)
Understand and Improve ROI - Part 1 - Flips (0:41)
Understand and Improve ROI - Part 2 - Rentals (0:49)
Understand and Improve ROI - Part 3 - Decide Between Flip or Rental (0:34)
Should a Real Estate Investor Get a Real Estate License (0:40)
Now contact me to book these presentations for your REIA later this year or next year.
