Published by Gureview June 9th, 2008
in General.
Real Estate Investment Clubs (REI Clubs) have long been touted as an excellent means of learning about real estate investing, finding deals and networking with other investors. It is important for beginning investors to find clubs in their area that are reputable and have a dedicated group of members and hold regular meetings and networking opportunities.
Trustworthy clubs will let you attend your first one or two meetings for free. Here are some more tips to finding a great REI club to help you start your real estate investment business:
Beware of the Sell-fest - there are a few bad apples out there that are only out to sell you an expensive product or training course. Make sure your REI Club provides value and good education tools as part of the small yearly membership fee. The average annual fees for individual range between $100 - $250 a year. If you club charges over $300 you should probably think of trying another club.
Good REI Clubs have ACTIVE and EXPERIENCED investors as members. Research here is important. Clubs that have skillful investors as members are a goldmind for great deals, tips and in many cases - mentoring. At meetings you will also find real estate agents and brokers who specialize in buying and selling for investors, contractors and other industry related services.
Before collaberating with aynone on a deal, get to know them and ask for a couple of references. Finding a knowlegeable investor to be your mentor when you are starting out, may help you avoid costly mistakes.
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