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There are a few things that must be considered and accounted for before starting your real estate investing club, Don’t forget that an investing property club can be a very exciting social event, that you would ever put together. Groups like this not only give you and your friends a chance to get together, it also gives the members the opportunity to learn how to buy property, share knowledge and make new contacts within real estate investing.

A basic concern for your club is the people you invite to join. You must absolutely be sure to get only people who are serious about the investment club, and that they can get on with one another. If you have friends who do not seem to be able to get along together, by all means leave one of them out of the invitations to join. If you begin your club with just one agitator, it will be enough to destroy the group, so be very picky in recruiting your group members.

Once you have your members, let them all have a voice in the creation of your groups operating agreement. This way, everyone will have a say right from the beginning and nothing should be said about how things will be run at a later date. Take care of things like the rules, meeting place and the contribution amount, then make sure everyone agrees. Before they leave the meeting make sure everyone has a copy of the agreement.

Set forth in writing also that each member agrees to being informed that the investment club may not be profitable for a few years, if it is profitable at all. Let them know that the money they agree to put in each month is money they very well may lose, and that they acknowledge this fact. For some reason, some people believe that they will be making money immediately, and when they lose it instead, they get angry at the group. A signed letter of acknowledgement gets this problem out of the way from the very start.

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With everyone working together, it can’t be anything less than pleasurable. Work together as a whole to learn and understand real estate investing and how to pick a winning property.  Investment clubs can be a positive experience if you and your group members stay organized with all of your paperwork. Remember you are a team, and should divide up the work as such.