Local real estate investors and other interested professionals looking for a way to network or learn about investing can meet with like-minded people through Real Estate Investors of Kitsap . A nonprofit organization founded more than a year ago, REI Kitsap has about 60 members including real estate agents, mortgage brokers, investors, developers, attorneys, bankers and others.
“A lot of people are extremely interested in real estate and wonder how to take advantage of the market to get ahead. We have the tools, the information and the resources to show them how to do it,” said Terry Arndt, president of the group and one of the founders.
Arndt owns MPC Realty LLC, a Kitsap County real estate investment firm, and Life After Graduation LLC, which produces resources for college students. He said a group of individuals “were tired of having to drive to Seattle, Tacoma and other places” for networking, so they decided to launch something locally. He said the first function, organized to gauge local interest, was attended by about 60 people.
The group meets every first Thursday of the month and the meetings follow a standard format. During the first part, anyone can share with the group their needs — which can be anything from looking for tenants to selling a property. The group also analyses an investing opportunity to see whether it’s a “deal.” Educational topics are presented, focusing on issues like marketing a business, land development, creative financing, rental management etc. Other educational opportunities include “boot camps” several times a year and an annual home tour.
Mercury Michael, a real estate agent with RE/MAX Unlimited on Bainbridge Island, said he likes the face-to-face networking with local individuals. He’s been investing in real estate for several years, before he even became a Realtor in 2007. He said the meetings are useful both to novices and experienced investors, and some are there for networking, others for education or both.
He said being a member of REI Kitsap has helped him consider new avenues and broaden his horizons. “No matter how good you are, as an investor you always have to be buying or renting,” he said. “This is great because it helps you make connections.”
REI Kitsap members pay $90 for the first year, then a smaller fee during subsequent years. Those who don’t want to commit to a membership can attend the monthly meetings for $10 per meeting, and there is no limit to how many meetings they can attend without becoming members. Arndt said on average, about 40 people show up monthly. He said one of the group’s goals is to help change the perception that real estate investors are all about making money. “It’s not a bunch of people trying to get rich — we’re people trying to get out of the rat race and also help other people,” he said.
The club’s perspective is that with the right resources and tools, one can make money in any real estate market. “It’s always a good time to invest in real estate, the question is how to go about it,” he said.
