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.