Maybe there’s something about the acronym that gets people excited. The Real
Estate Investment Club of Houston, or RICH as it is also known, has been active
for 25 years. While the real estate investment club phenomenon seems relatively
new, RICH has had it going on for more than two decades.
The Real Estate Investment Club of Houston is one of about 15 in the state of
Texas. The real estate investment clubs are growing in popularity because of the
number of people who are investing in real estate these days. California has as
many as 38 real estate investment clubs.
If you are an investor but don’t live near the popular Houston real estate
investment club, you can start your own right where you live.
First, explore and investigate other real estate investment clubs to see the
benefits they offer members. Some have emailed newsletters. Some offer a printed
newsletter. Some have special guest speakers to talk about a relevant business
topic at their meetings. As you read about other real estate investment clubs,
decide what you’d like your own to offer. Reading mission statements of other
real estate clubs will also help you decide on your club’s goals.
Pick a name for your real estate club. Many are named for the areas in which
they are located, as is the case with The Real Estate Investment Club of
Houston. Others are geared toward specialty groups. Will your real estate
investment club focus be on women in real estate investing? Or maybe if you have
retired from one career to pursue real estate investing full time, your club
might be a retirees’ real estate investment club.
You’ll also need to think about whether you will charge membership dues and
if so, how much those dues will be. Make sure that the dues will cover your
expenses of the benefits, such as newsletters and social events, that you might
promise potential members.
With an idea in mind and a name, seek others to join you in your real estate
club. If you already know people who are investing in real estate, you have a
few people as member prospects. If you don’t know anyone, you can still find
club members. Design a simple flier. Ask local real estate agents if you can
post it in their offices. Ask local loan officers if you can leave a flier with
them. Write a short note to your local newspapers and radio stations. Ask them
to publish the announcement as a free event notice or maybe they’ll even want to
write a longer story about you forming a new organization in the area.
Don’t worry that starting your own real estate investment club will somehow
cut your throat as far as your own investments are concerned. There’s enough
success in this market to go around. Besides, the tips and knowledge you might
pick up from another member of your real estate club just might lead you toward
more business. And don’t forget, as the founder of this new real estate
investment club, you could make a little extra money by paying yourself to
produce a monthly newsletter and other duties.