Comparison · 11 material differences
National REIA vs Pipeline Angels
This comparison was generated on request from the records. It carries no editorial verdict and is not indexed. The published comparisons are listed on the compare page.
Read down each column for one organization, across a row for the difference. A bronze mark at the left of a cell means the organizations differ on that row. A dash or “not published” means the organization does not disclose the fact; it is not a zero.
Verified September 2026
Investment community
Verified September 2026 National REIA
Independent real estate investors and landlords, and the local investor associations, property owner associations, apartment associations and landlord associations that serve them
Investment community
Pipeline Angels
Accredited investors who identify with womanhood or femmehood, including trans, cis and non-binary people, and who want to make a first angel investment
What the records say
- Accredited-investor status: National REIA: No accredited-investor or net-worth test is published; Pipeline Angels: Must be an accredited investor per SEC guidelines: income over $200,000 individually or $300,000 with a spouse or partner in each of the prior two years, or $1 million net worth, or a Series 7, Series 65 or Series 82 FINRA designation in good standing.
- Gender: National REIA: No published gender; Pipeline Angels: Anyone identifying with womanhood and/or femmehood (trans, cis, nonbinary) is encouraged to apply.
- Geographic restriction: National REIA: United States; Pipeline Angels: No published geographic restriction.
- Annual dues: National REIA: Not publicly disclosed. National REIA does not publish a national individual rate; dues are set by each affiliated local association. For a worked example, its Washington State affiliate REAPS charges $249 a year for individual membership.; Pipeline Angels: Not publicly disclosed; the organisation is structured around cohorts rather than annual membership.
Side by side
| National REIA | Pipeline Angels | |
|---|---|---|
| Profile | ||
| Type | Investment community | Investment community |
| Founded | 1985 | 2011 (Founded by Natalia Oberti Noguera; originally known as the Pipeline Fellowship.) |
| Headquarters | Crestview Hills, United States | Newark, United States |
| Geographic footprint | United States; a federation of independent local real estate investor associations | United States; training cohorts run entirely online, so participants can join from anywhere |
| Members | 40,000as of September 2026 | 550as of September 2026 |
| Chapters | 120 | No chapters. The organisation previously ran city-based cohorts; the programme is now virtual. |
| Primary audience | Independent real estate investors and landlords, and the local investor associations, property owner associations, apartment associations and landlord associations that serve them | Accredited investors who identify with womanhood or femmehood, including trans, cis and non-binary people, and who want to make a first angel investment |
| Typical member | Individual members are private real estate investors and landlords who belong to a local association. The federation's direct members are the local associations themselves, which range from small investor clubs to established landlord and apartment associations. | Participants are accredited investors, largely new to angel investing, with an interest in group learning and social entrepreneurship. The network was built around the observation that a small share of US angel investors are women of colour and a small share of venture funding goes to all-women teams. |
| Qualification | ||
| Accredited-investor status | No accredited-investor or net-worth test is publishedLocal associations are open to beginners as well as experienced investors; National REIA publishes no financial qualification.verified September 2026 · source ↗ | Must be an accredited investor per SEC guidelines: income over $200,000 individually or $300,000 with a spouse or partner in each of the prior two years, or $1 million net worth, or a Series 7, Series 65 or Series 82 FINRA designation in good standingListed on the Angel Training eligibility sectionverified September 2026 · source ↗ |
| Gender | No published gender | Anyone identifying with womanhood and/or femmehood (trans, cis, nonbinary) is encouraged to applyStated as an encouragement rather than a formal exclusion; the network describes itself as a network of women and non-binary investorsverified September 2026 · source ↗ |
| Geographic restriction | United Statesverified September 2026 · source ↗ | No published geographic restriction |
| Invitation required | No | No |
| Sponsor required | No | No |
| Application process | Individuals find a local association through National REIA's locator, join that group, and then create a national account using the group's chapter code. Local associations wanting to affiliate complete a separate application form on the national site and must adopt the national code of ethics. | Applicants complete a short online application. Admission is rolling, with priority given to eligible applicants who apply before a published deadline for each cohort. Virtual open houses and orientation sessions are offered to prospective applicants beforehand. Accredited-investor status is a condition of admission. |
| Selectivity | Not publicly disclosed for individuals, who are admitted by their local association. For affiliating groups, the national board decides membership and may revoke it for ethics breaches, but no acceptance rate is published. | Not publicly disclosed |
| Cost | ||
| Annual dues | Not publicly disclosed. National REIA does not publish a national individual rate; dues are set by each affiliated local association. For a worked example, its Washington State affiliate REAPS charges $249 a year for individual membership.verified September 2026 · source ↗ | Not publicly disclosed; the organisation is structured around cohorts rather than annual membershipverified September 2026 |
| Initiation fee | Not publicly disclosedverified September 2026 | The published commitment is investment capital, not tuition. Programme cost is not disclosed on the public site. |
| Programme fee | Dues are charged by the local affiliate, not by National REIA, and the national body publishes no schedule. | Not publicly disclosed. No tuition figure appears on the Angel Training page or the application page; the only published financial commitment is the $5,000 minimum investment.verified September 2026 · source ↗ |
| Membership term | Not documented | Cohort-based; alumni remain part of the community after the programme |
| Structure | ||
| Meeting frequency | Set by each local association; National REIA runs online education and national events | Per cohort: a three-day workshop, a two-day pitch summit, an investment decision session and a dealflow call, spread across roughly three months |
| Peer forums | National REIA Forums online, plus local association meetings and subgroups | Cohorts learn and decide as a class, with the investment selected collectively |
| Confidentiality | Not publicly disclosed | Not publicly disclosed |
| Time commitment | Not documented | Approximately seven scheduled programme days across a cohort, plus diligence work |
| Organized as | Chapter-based, Event-focused | Cohort-based, Virtual |
| Confidential peer forums | Partial | Partial |
| Local chapters | Yes | No |
| Virtual membership | Partial | Yes |
| Online community | Yes | Yes |
| Member directory | Partial | Not documented |
| Events | Yes | Yes |
| Programming | ||
| Educational programming | Yes | Yes |
| Leadership development | No | Partial |
| Retreats | No | No |
| Travel | No | No |
| Family programming | No | No |
| Spouse and partner programming | Not documented | No |
| Next-generation programming | No | No |
| Investment discussions | Yes | Yes |
| Investment opportunities | Partial | Yes |
| Philanthropic component | Partial | Partial |
| Networking emphasis | High | High |
| Social emphasis | Medium | Medium |
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Last verified: not yet reviewed
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Sources
Drawn from the sources listed on each page: National REIA · Pipeline Angels