Whether new to real estate investing, or a seasoned pro, Real Estate Investment (REI)clubs are worthwhile resources for your investing future. There are hundreds of clubs scattered around the country, with many larger metropolitan areas hosting up to a dozen clubs. Each offer a great place to network and learn the real estate game with experienced investors.
Networking is one of the best reasons for joining a Real Estate Investment club. Most REI clubs are groups of investors, but also include mortgage brokers and bankers, CPAs, attorneys and many other people involved in real estate. Many meet weekly, combining social gathering with a way to broaden your contacts.
They are also wonderful opportunities to get leads. Most investors specialize into a specific niche. Some work with foreclosed properties, some are rehabbers, some look to buy for long term rentals. But while they are specialists, they often come across sales leads for types of properties or transactions that doesn’t fit their requirements, but would be great for someone else. Spread the word for the type of transactions you like to do, and most will be happy to pass the information on.
Most REI clubs also have specialized sub-groups. These are smaller groups of investor who specialize in specific aspects of investing. Rehab investors meet to talk about rehabbing techniques and the effect of changes in city building codes, and property managers discuss problem tenants and eviction legalities.
Real Estate Investment clubs are great places to find mentors to help you on your way. it is also an outstanding resource to find potential partners. often a new real estate investor will find a deal that is beyond their finances or experience. If it is good enough, savvy investors will call around and see if another wants to partner with them.
Finally, most REI Clubs offer strong educational opportunities, bringing in authors and experts for seminars on a wide variety of investing subjects. It is an outstanding way to broaden your education.
Can’t find a local Real Estate Investment Club? Consider starting your own. Every community has a close knit community of landlords, investors, speculators, real estate agents and more who are eager to pool their knowledge and resources to help each other. Start one today, and let an REI club help push your investing career to knew heights!