Everywhere you look there are many real estate investment clubs to choose from. Keep in mind that real estate investment clubs are different from real estate investment trusts or REITs. You can use the Internet to find local clubs and resources, or join an online club.
In order to get a feel for investing, its good to associate yourself with like minded people. Think about what you want from a club before joining. Support, information and motivation are very good common goals. But they’re certainly not the only reasons to join. You should identify the real purpose of any real estate investment club you consider joining.
Attend a few meetings before you pay dues. Ask questions about the group’s founders and their motives for setting up the club. Did they want to invest and learn together, or did they want to sell their products? You should find out who the members are and what they do. Think about whether what they offer matches your goals. Some more questions to ask would be: -Is the club set up for education as well as networking? -Will people making sales pitches for books, seminars or services hammer me? -Does the club focus on the kind of real estate I’m interested in? -How many serious investors belong to the club? Are they more experienced than I am, or are they mostly newbies?
You’re likely to learn more from experienced investors. Investing in real estate is a big step to take alone. Sometimes club members form partnerships. A partnership might actually help you feel safer about your investment, or it might let you purchase more property than you could alone. One real estate investor estimates that 95 percent of people who attend club meetings never invest, or give up after one or two tries. It can be daunting to discover the amount of work ahead of you. But a club can keep you from facing that work alone, so join one today!
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