Posted by Christine Baker on December 03, 1997 at 14:10:12:
In Reply to: What does a Real Estate investment club do? posted by JohnD on November 26, 1997 at 17:27:35:
There seems to be a LOT of interest in investment clubs. Everybody wants to join one, but there don't seem to be any.
So I finally put in my 2 cents:
Several years ago I joined the Peninsula Exchangers on the San Francisco Peninsula for a while. They had monthly luncheon meetings, people announced their "wants and haves" and distributed fliers. Usually they had a guest speaker on a COMMERCIAL real estate related topic. This is NOT the place to learn how to buy residential property, but a place to network with other commercial brokers and investors.
I know of organizations for apartment owners/managers.
I also remember seeing announcements for real estate investment club meetings in the SF Chronicle Sunday paper, but that was many years ago.
Many investors are very secretive and just don't want to share their knowledge. Obviously you have to be very careful about what you say about a specific property you're interested in, or someone else will beat you to it! That doesn't mean that you can't get together and talk about title and escrow companies, lenders and a zillion other related subjects.
Once investors are successful, they sure don't want to share HOW they're doing it. Unless of course they wrote a book ;-)
The problem with a club is that "somebody" has to arrange for a meeting area and organize "something."
You might be more successful meeting with just one or a couple like minded people informally and take it from there. Different people have different objectives and there are so many ways to purchase, sell and manage many different types of properties.
A few suggestions:
1) Take the class! A must for any beginner anyway, and I don't think there's a community college anywhere that doesn't offer a real estate class. The College of San Mateo, Cal, has a great program. I just looked at some catalogues in Phoenix, they also offer real estate and investment courses. Chances are you'll meet other students with similar interests.
2) Contact your local Realtor association and ask about their seminar schedule, some title companies (Old Republic in San Jose, Cal) also offer classes. Often they're open to anyone who pays the usually nominal ($20 to $30) fee.
3) Create a web page about your specific wants and needs. Post your URL every few weeks in your LOCAL RE newsgroups, such as ba.housing.market for the Bay Area.
When posting here or anywhere else, include some specific info about your objectives and yourself. Are you experienced? You own property? What type of property are you interested in? You took classes? Or you just saw the late nite "get rich quick" ad on TV and want to know if it works?
The more specific you are, the better your chances of finding some people with similar interests.
Post a Followup