Greater Miami Real Estate Exchangers & FREMA

For the last several years I have been attending the local chapter called Greater Miami Real Estate Exchangers GMREE meeting every Tuesday morning at 9:00 at the Piccadilly Rest. ARCH CREEK SHOPPING CENTER, 13250 BISCAYNE BLVD., N. MIAMI, FL   33181.   You say, Yeah so what?  The reason I am discussing this tiny club is that it contains some of the smartest Real Estate Mentors in Miami, Florida.

The idea behind the GMREE is to buy/sell real estate without exchanging any CASH!  Yeah, you heard me without CASH.  It is like a 1031 exchange on steroids.  Negotiations are based on TERMS rather than CASH.  Like...Parcels for Buildings, Buildings for Land, Yachts for Houses, Cars for a Single Family Home,  Warehouse for jewels, etc.  No cash or very little cash will exchange hands during the transaction.  The Buying and the Selling occurrs using a Matrix displayed on an Excel Spreadsheet or overhead.   Bids are submitted on a piece of paper and placed onto the Matrix and a copy goes to owner of the asset. It is a little more complex than what I described here but you'll get the idea. It can get very creative due to the fact financing is no longer an issue.

If you are confused, you can come to the state meeting Florida Real Estate Marketing Association FREMA and watch the MATRIX in action.   There is an all day FREMA meeting Monday, June 8th, 2009 at 9:00 AM EST at the Pallacio Hotel, 4900 Powerline Road, Fort Lauderdale, FL 33309.  If you can't make it, don't worry, they have one every 2-3 months.

I provide a small video from GMREE Tueday's meeting: