Houston, TX · Member since 2016 · 16 posts · 1 vote
I joined BP a few months ago but really started reading post and podcasts recently. I am new to real estate and am looking to learn and gather information on how to get started. After reading through lots of recommendations about starting out with local REIA I decided to attend a local Houston REIA meeting (houston RENC). Initially the topics to be covered in meeting seemed to be local updates in real estate market. But after attending the meeting, the information/lecture presented seemed very salesy. The presentation included basic terms in real estate and the guy was obviously a good...salesman. The presentation lasted for about two hours after which I couldn't stay but he kept pushing his 3 day course and other VIP group meeting throughout the lecture! The whole point of attending a local REIA meeting was to avoid the sales pitches about courses/materials that over promise and make real estate seem very easy money making deals! And that's exactly what the lecture was, no money no credit required wholesale deals. It was disappointing bc maybe they held off on the main content until after those 2 hours but it seemed a big waste of time to just hear someone promise big and easy money when it's not.
So the question is, what do you expect from your local REIA Meetings and what does a typical good REIA meetings look like. Are there always these sales pitch about next course more material even at REias and I just have to get around it? And what are some good ones recommended in Houston?
Im sorry if this posted twice, the app crashed while posting the first time.
Real Estate Investor · Monroe Township, NJ · Member since 2016 · 468 posts · 85 votes
9y
Folks - Personally, I have never been to an REIA meeting for the exact same reasons you are talking about. Actions are better than words. Try doing a deal and getting your feet wet. It teaches you so much than reading, browsing the forums, attending REIA meetings or listening to Podcasts. I am not saying don't do this but taking action is the best way to learn. After completing my first transaction in Memphis as an out of state buyer, driving down 15 hours from NJ to Memphis with a group of folks, spending two days, touring the properties, making offers and finally purchasing one and turning it over to property management has taught me a whole lot more than just reading or meetings. If you take one thing away, that is Take Action. Experience is the best teacher.
Investor/Realtor · Hoover, AL · Member since 2010 · 1k+ posts · 459 votes
9y
Most meetings include a speaker and product promotion. You can Network without purchasing. Also, consider RE meetups near you. I learn something NEW each time.
Wholesaler · Waldorf, MD · Member since 2015 · 459 posts · 245 votes
9y
@Sahegin Charolia sorry that your first REIA meeting turned you off. Just so you know there are plenty of REI meetings that DON'T push their 3 day training camps. Since you live in a big metro area, I'm positive if it is like where I live you can find a DIFFERENT REI meeting 3-5 days of the week every week. I can literally go to 15-20 different meetings a month every month.
Go to www.meetup.com, and do a search for "real estate investing" & your city "Houston" and see how many meetings show up.
I myself only attend 1-2 a month & they are very narrowly focused. I can tell by the description of the meeting whether it's going to be a salesfest/product push or not.
Portland, OR · Member since 2016 · 20 posts · 4 votes
9y
I went to my first and only local REIA meeting about 4 months ago and my experience was similar.
The presentation that night wasn't salesy, just boring, but the people there were mostly complete beginners mixed with some sharks and bored real estate agents. Luckily I got to chat with some interesting guys at the beginning who pointed me towards a local investors meeting that was worth a damn and the local BP meetups. I, and they, left early of course.
I really didn't understand their event. They want to charge money for you to become a member so you can attend the events but nobody interesting is there (probably driven away) and they didn't have good presentations, or food, or drink. This is an after work event people, we at least need pizza!
They also committed the cardinal sin of a meetup to me, which is having the presentation be longer than the networking time. The whole point is to meet people at these events, not get lectured to about Title Insurance for an hour.
Real Estate Investor · Monroe Township, NJ · Member since 2016 · 468 posts · 85 votes
9y
Folks - Personally, I have never been to an REIA meeting for the exact same reasons you are talking about. Actions are better than words. Try doing a deal and getting your feet wet. It teaches you so much than reading, browsing the forums, attending REIA meetings or listening to Podcasts. I am not saying don't do this but taking action is the best way to learn. After completing my first transaction in Memphis as an out of state buyer, driving down 15 hours from NJ to Memphis with a group of folks, spending two days, touring the properties, making offers and finally purchasing one and turning it over to property management has taught me a whole lot more than just reading or meetings. If you take one thing away, that is Take Action. Experience is the best teacher.
Real Estate Agent · Cupertino, CA · Member since 2016 · 4k+ posts · 1k+ votes
9y
Suggest you work with a realtor with similar interest. Not going there selling you a healing, face make up products.
The realtor is there because she is interested in selling you a service also. There are many agents willing to work with you after you two can work well.
Investor · Sugar Land, TX · Member since 2014 · 223 posts · 62 votes
9y
@Sahegin Charolia - Sorry to hear your first experience did not go as planned. You have options in Houston. RICH is a good place, and I was actually at their meeting last night. I host the Houston Real Deal Meetup so I am understandably biased. Someone like @Tristan S. would be a better person to get an opinion on the quality of our meetings.
I would encourage you to continue attending REIAs/meetups to build your network. Go ask others for feedback/check reviews if you need to so you don't waste valuable time. Just find one or a few you like.
Since you are in the Houston area, maybe we can connect. Hope to see you soon.
Katy, TX · Member since 2016 · 34 posts · 20 votes
9y
@Sahegin Charolia the first ~90 min is always a sales pitch, its like that every time. most people clear out before the good stuff starts. If i go i always show up very late haha
I always find shenoas presentations informative, but the real value is in meeting the people who actually stay for her lectures. I find those people are more serious investors.
Houston, TX · Member since 2016 · 16 posts · 1 vote
9y
Thank you for all the great replies!
@Abdul Azeez I totally agree with you experience is what counts and need to get in to learn
@Charles Nguyen I am signed up with RICH club but haven't been to any meetings yet. I just check their website and browse through listings when I get emails. And it would be great if we can meet up for coffee or something?
@Jacob Smith Thats exactly what I thought about for next time lol. If I go, I'd prob go late to get to the main material.
Spring, TX · Member since 2016 · 8 posts · 2 votes
9y
@Sahegin Charolia once you hear it the first time, you realize the first 2 hours is a pitch fest. As Jacob said, the last hour is the best, and 8 pm is when the real investors show up. The information is a great summary of what is found on HAR & other Real estate sites, but it's Shenoas interpretation of this summary that adds the real value. Also, the networking is great and everyone is eager to meet each other.
I went to my first and only local REIA meeting about 4 months ago and my experience was similar.
The presentation that night wasn't salesy, just boring, but the people there were mostly complete beginners mixed with some sharks and bored real estate agents. Luckily I got to chat with some interesting guys at the beginning who pointed me towards a local investors meeting that was worth a damn and the local BP meetups. I, and they, left early of course.
I really didn't understand their event. They want to charge money for you to become a member so you can attend the events but nobody interesting is there (probably driven away) and they didn't have good presentations, or food, or drink. This is an after work event people, we at least need pizza!
They also committed the cardinal sin of a meetup to me, which is having the presentation be longer than the networking time. The whole point is to meet people at these events, not get lectured to about Title Insurance for an hour.
<end rant>
Most "REIA"s (not all) are profit making entities. Very very few have free pizza. They'd have to charge more. In order to make money, they "partner" with the selling speaker and split the take. Most of the "Memberships" and "meeting fees" go to pay for the space, the marketing, the email and web hosting, equipment costs, and admin expense. These for profit groups may or may not provide you with the networking you want.
With the exception of groups formed solely for the purpose of networking, most groups have an informative presentation which lasts longer than the networking. If you want to network, come early and stay late. That's when the best networking happens, not the "structured networking".
Groups that have only networking as their focus tend to be small and frequently die out, since there is no attraction for someone to spend their gas and time. Presentations are a reason to go.
If you were bored by a presentation on title insurance, it could be that you didn't understand the importance of it. Someone doing an in-depth presentation on that topic will be explaining lots of nuances that experienced investors have run into, where it has cost them money if they didn't understand it. Of course, a beginner presentation on what title insurance is, may very well have been extremely boring if you are experienced.
Each group has a different "whole point". Their whole point may not be yours. All REIAs and all real estate groups are not the same. Ask around to find one that has what your "whole point" is. Or, if you don't like what's available, start your own, and provide the time and money it takes to make a group successful.
Full disclosure: I have previously served 4 years on the board of a non-profit REIA. I founded a for-profit REIA and sold it. I now run a free group which is not a REIA. We have no selling speakers, no fees, no memberships, and no MLM. Our speakers speak on advanced topics of interest to intermediate real estate investors and above. Seldom are they boring. We are known for our informative and useful topics. Networking starts 1/2 hour before the meeting, and goes for hours after the presentation. We do not supply pizza or anything else. You are free to order food or beverages in the meeting since they are held at function rooms of restaurants/bars. We do have a reason for spending time and money to provide this group for others: We want to do more business, and being the leader of a group gives you lots of visibility. :-))
Real Estate Investor · Houston, TX · Member since 2015 · 14 posts · 6 votes
9y
@Sahegin Charolia In Houston I am a fan of and regularly attend the RICH Club (Reality Investment Club of Houston), Wealth Club, and Houston Real Deal. Google them for more information and meeting location/times. Been to a few of the others, felt they were exceptionally 'pitchy' and didn't like the 'vibe'... like you mentioned in your initial post. Try a few out, most will let you attend for free the first time.