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 Current estimates indicate there are between 150 and 200 real estate investment clubs across the United States representing somewhere in the neighborhood of 30,000 individual investors. Needless to say it's a thriving environment where the new and the old come together to share ideas and discuss real estate opportunities.
Club Membership
Club members typically pay between $50 and $250 a year to join these groups - which are usually set up as nonprofit organizations. Membership fees typically include such things as admission to field trips to evaluation properties, monthly meetings / workshops and perhaps even a subscription to a real estate investing newsletter.
Real Estate Investment Boom
One of the driving forces behind the rapid rise in interest and the growing participation in real estate investment clubs is the rise in housing prices we've experienced over the last several years. In fact, with some areas of the country realizing a 50 to 100% rise over the last five years, the real estate boom has spawned what seems like a no-lose investment strategy.
The best part of these clubs is their openness and appeal to the young, not-so-young, experienced and inexperienced investor. That's because education and sharing of information is the mainstay of their monthly, and sometimes even weekly, meetings.
Structure of Club Meetings
If you've never attended a real estate investing club meeting, then here is a quick list of what you can expect to see and hear at these meeting. We'll also give you some tips that will help you get the most out of your membership fees as well as time spent at these meetings.
Expert Real Estate Speakers
Since most clubs are structured as nonprofit organizations, they usually are limited in how much they can pay someone to speak at a meeting. That means the speakers that do "volunteer" to attend meeting will normally have a hidden agenda. They are going to provide you with good information on the current trends in the real estate market, and they are also going to try and sell you something.
While you might not appreciate getting a sales pitch throughout their speech, you really do need to listen to what they're saying because the best speakers will also provide some valuable real estate advice.
Follow the Club Rules
If you're planning on learning something about real estate at these club meetings then your best bet is to follow all of the club rules. Show up to the meeting on time, don't solicit business without first asking permission from the club leadership committee, and don't distract others at the meeting by talking during presentations.
You'll get along a lot better with veteran club members and learn a lot more if you do more listening than talking at club meetings.
Network at Club Meetings
The primary focus of most clubs is the education of their membership on strategies to find good properties in real estate markets that are poised to move up. But the networking that occurs at the club meetings often results in leads on properties that haven't even hit the market.
And since these clubs often attract professions such as attorneys and builders, you can count on getting "free" advice that ranges from getting sued by tenants to the cost of rehabilitating a property. The information you gain and the connections you make at the meeting through networking alone is a great return on your membership investment.
Finding Local Real Estate Clubs
When there is a need, there is always someone ready and willing to provide an answer and finding a local real estate club is no exception. That being said, we're going to give you a couple of links to websites that provide you with the ability to search for a club by the state you live in.
National Real Estate Investors Association
The National Real Estate Investors Association is a non profit trade association representing local clubs, property owners, and landlords throughout the United States. The association claims to have over 20,000 paying members and is the largest single organization dedicated to real estate investing in America. The website offers a graphical depiction of the United States that allows you to find real estate clubs in nearby communities via the click of a mouse.
Real Estate Promo
Although not affiliated with or the sponsor of real estate clubs on a national scale, Real Estate Promo offers surfers an opportunity to find local clubs. The site contains a text listing of each state that directs you to a listing of the contact information for these clubs. One nice feature of this site is that user can find not only the street address of a local club, but also contact information such as email addresses and websites hosted by the club itself.
About the Author - Real Estate Investment Clubs
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