A real estate investment club or association can be a great idea, especially if you plan on making frequent real estate investments, or get a large portion of your income from investing. There are pros and cons to getting involved with a local club so you might also want to consider why you may or may not want to join one. Clubs are labeled as associations, clubs, and some other names, and can be one of four types of investment clubs.
Pros of Joining a Real Estate Investment Club
Whether you’re in Seattle or looking for Kirkland property management tips, you can likely find a real estate investment club that is nearby to your location. Because many investors actually spread their investments out over the entire area, an investment club can help you with advice including ideas like hiring a property management company so that you don’t have to frequently travel.
Can be a Great Source of Advice – Most real estate investment groups start as a means of finding and giving advice, sharing strategies, finding investment funding, and even learning from a mentor. By signing up with one, you can take advantage of getting to know people who most likely already have experience in real estate investing and maybe even property management in Bellevue or a local Seattle area. Experiences investors can also point you in the right direction for everything from a property manager to a maintenance man, so you should definitely look into it. Included in this is that an investment club can be a great networking resource.
Pooled Resources – Some investment groups are just that, investment groups. If you don’t have the cash to invest in a large or expensive condominium, you might be able to find an investment partner.
A few other pros of joining a real estate investment club include:
• Usually monthly meet-ups
• Discussions and often educational resources
• Networking with partners and competitors.
• Wide availability, there are roughly 23 real estate investment clubs local to the area which includes Seattle, Sammamish, Bellevue, Kirkland, Woodinville, Bothell, and Kenmore.
Cons of Joining a Real Estate Investment Club
There are always cons to every option, so it is important to consider the cons of joining an investment club as well. Some, but not all, investment clubs charge a monthly fee and often this can be as much as $200 per month or more. For low profit investors, this might be too much money. Real estate investment clubs also require regular meetups which can take a few hours or more, anyone who does not have the time should not consider joining one. Finally, these clubs often allow competitors to see exactly what property you are interested in, although things might be worked out to the best of the entire club.
Choosing Whether or Not to Join a Real Estate Investment Club
After weighing the pros and cons of a real estate investment club, it’s time to consider whether or not you want to join. For great property management tips, networking, and even the ability to co-invest and build partnerships, a real estate investment club is a great idea; otherwise you might want to skip it.
Want to know more? Or looking for a way to manage your investments without joining a club? Consider SJA Property Management for your property management company in Sammamish, Bellevue, Kirkland, Woodinville, Bothell, Issaquah, and Kenmore.