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CIREIA exists to provide quality education and networking for real estate investors and to promote ethics and integrity within the profession and throughout the community.
CIREIA members acknowledge that our association is an organization of people whose purpose is to promote our collective real estate investing success through education, network and community service. In order to pursue these ends in a legal and ethical manner, all CIREIA members will be held to the highest standard of professionalism and integrity.
CIREIA CLUB is a subsidiary of Real Estate Resources Group Inc. (RER)
CIREIA started over 30 years ago as the Indianapolis Landlord Association. Several years later it grew into Central Indiana Real Estate Investors Association. Through the years the club has seen ups and downs; and in recent years Growth became Limited due to:
What is RER?
What will RER do?
Strategic Initiatives include:
Code of Ethics
CIREIA members acknowledge that our association is an organization of people whose purpose is to promote our collective real estate investing success through education, networking and community service. In order to pursue these ends in a legal and ethical manner, all CIREIA members will be held to the highest standard of professionalism and integrity. This includes, but is not limited to the following:
Ethics Involved with Wholesaling Contracts
CIREIA recommends the following policy concerning "Daisy Chaining" properties.
Daisy Chaining is marketing properties that you do not have under contract yourself. Taking a fellow wholesaler's property and marking up the price without having permission from the wholesaler holding the contract
What we see happening:
A wholesaler gets a deal on contract and pushes it out to his Buyers list. Then wholesalers on that list send it to their Buyers with some marking up of the price. And then the next level does the same. This results into a chain of added costs to the property.
Depending on the timing, the original wholesaler often sees his deal back to him within a week at $5-25,000 more than the original deal. Each wholesaler adding his increase has turned a fair deal into a questionable deal and created a "daisy chain" that gives real estate investors a bad name with sellers, realtors and buyers.
If the final wholesaler gets an interested buyer, he faces challenges in getting that deal closed because he has never seen the property or talked to the seller. "Too many cooks in that kitchen" again leaves a bad impression of our industry.
WITH THIS LINE OF THOUGHT, CIREIA previously implemented a rule that members can not represent properties at BUY/SELL/TRADE if you do not control the property. Nor do we recommend this practice among our members.
PLEASE NOTE, if you are a beginner in investing, there are other ways to get started without having a negative impact on the industry and on homesellers. Please give us a call and we’re happy to help you get started.
Board Members & Staff