Two heads are better than one, and that's the concept behind a real estate investment club. By bringing together different people with different interests and areas of expertise, you can successfully form a club to buy and sell real estate with the ultimate goal of making a sizable profit.

While you can most likely find a real estate investment club close by, you may want to consider starting your own club as well. By starting your own club, you can form the group with people you know are interested in the same goals and with whom you trust.

Whether you join an existing club or start your own, consider the following real estate investment club information:

1. A real estate investment club provider will encourage networking and training in real estate with different programs offered on a regular basis.

2. A real estate investment club may even form as a legal entity to protect members from legal actions.

3. A real estate investment club provider may be non-profit or for-profit. The for-profit groups seek serious investors and dues may qualify as investment money. A non-profit group only charges fees to cover the costs of training events.

Action Steps
The best contacts and resources to help you get it done

Browse a real estate investment club list

You can find local or online real estate investment clubs via the Internet. But before you join and pay your dues, explore the purpose of the club and the motives of its members. Don't be afraid to attend some regular meetings and ask questions before you sign up.

I recommend: Browse real estate investment clubs by state at REIClub.com. Creative Real Estate Online offers a directory of both national and international investment clubs.

Obtain real estate investment club information on starting your own

Don't like what you find in other clubs? Start your own. Recruit people in various fields of real estate to join your club. Then decide on officers, how you want the club to be set up, membership fees and other issues. You'll want to do research on what you like and don't like about other clubs and have the necessary resources on hand like a real estate broker to get your club off the ground.

I recommend: Check out the WCRT, an IL real estate investment club, and how their meetings are set up. Find a real estate broker to suit your club's needs via the National Association of Real Estate Brokers.

Keep informed of the latest trends affecting your real estate investment club

For the benefit of the club, familiarize yourself with the latest real estate laws and market trends. That way you can contribute to the club and everyone can benefit from your knowledge. You may also want to consider having members conduct research on specific topics and report back to the group.

I recommend: Sign up for a membership with PropertyVestors. Membership benefits include training, strategy sessions, investment alerts and others. If your club is based in Connecticut, check out the Connecticut Real Estate Investors Association service directory, monthly newsletter and other features.

Tips & Tactics

Helpful advice for making the most of this Guide

• •  If the real estate investment club provider you're looking at seems too good to be true, it probably is. Real estate investing takes effort and no one has a foolproof way to avoid pitfalls and make it rich overnight. Use common sense when evaluating a club and its benefits to you as a real estate investor.