I would just like to get some suggestions on the best way to start up a REI Club. As a Realtor in my area I could see a huge benifit for me and other investors by having a local club in the area. I know of a cash flow club in the area but they haven’t updated there info on richdad.com in like two years. Does anyone have any experience creating a club. What is the best way to go about this??? What is the best way to get the word out??
All the feedback would help greatly.
Thanks,
REGONZ
“Small opportunities are often the beginning of great enterprises.”
You can add your club to the list of clubs here on this site and also other sites such as TCI and others like this one. I started a club here in Austin and lost interest in keeping up them dang meetings. I still get several emails a week from folks that want to join. It will grow by word of mouth too. Lots will want to join but not so many will want to meet. I tried a weekly meeting at a local pizza joint but weekly was too often for most. Also the food deal was a bad idea IMHO.
The creative investor, another real estate investing website. Anyone starting a club should be aware of this site and many other investor resources.
I agree with Ted. Running a club is a lot of work. You should attend as many meetings as possible with other clubs. Many good ones are set up as nonprofit agencies or LLCs. They collect dues, send newsletters, arrange for group discounts, have regular meetings at least once or twice a month, have to secure the meeting rooms in hotels or other spaces, etc.
Even though we have hundreds in the club I’m involved in, only about 10-25% will be at the meetings. You’d basically be running a business and your experience and expertise will be scrutinized.