Real Estate Investment Clubs (REICs) are a great way to get the word out that you are an investor looking for private lenders to invest in your business. Joining a REIC will help you meet like-minded people who will invest in your business or help you build word-of-mouth contacts.
Why should I join?
- Learn from experience:Whether you’re new to real estate investing or have little experience, you can learn from other experienced investors and perhaps avoid some of the unexpected pitfalls that naturally come with inexperience. Also, an experienced investor can help you with some of the concerns he may have that he isn’t sure how to handle.
- Educate yourself:Membership in a REIC will give you access to useful seminars and other educational events that will help you learn some insider secrets of the profession.
- Grid: Since you’ll be joining a club of like-minded people in your profession, a REIC will give you access to other professionals who have the resources you need to successfully complete a deal, as well as maximize your profits. These are professionals such as real estate attorneys, experienced investors, and anyone else associated with closing a real estate deal.
- Investment opportunities:You’ll meet other investors in a REIC who may offer you opportunities to co-invest in larger businesses that you might not otherwise venture into alone as a new investor. Plus, chances are you know of new investment opportunities on the horizon, as well as specific opportunities you’ve been looking for.
How do I join a REIC? You can join your local REIC chapter in your area. Also, there are plenty of investment clubs online that you can locate by typing real estate investment clubs into Google. Other ways to join:
- Publications:You can review the ads in any real estate magazine you receive for REICs you can join.
- Websites:You can review a list of REICs at REIDirectory.net. These are REICs that are found throughout the country, as well as in your local area.
If you’re looking online for a REIC, keep in mind that not all clubs are legitimate. A really good REIC will provide you with quality resources so that you learn more about the business and have a high percentage of members who are trustworthy and interested in achieving your goals. Be sure to check the history of the REIC you are considering joining. You can do this by reviewing the club’s history and talking to members. Most reputable clubs will have been founded by a real investor rather than a seller with the motive of selling educational materials for a profit.