Starting a local investment club is a great way to meet new people, get a feeling for the local market, and potentially finding new investors to work with you in buying bigger properties. Here are five tips for doing so:
1. Talk to local banks, lenders, etc. They know who the old guard and the new guard of investors are in your area.
2. Meet at least once a month. Have some type of social to ensure everyone gets to meet one another and know who they are.
3. Consider setting up a website. This will allow members to keep in touch and will allow potential members to know about future meetings.
4. Get in contact with investors you personally know. You need a good size of people to just get the ball rolling. Think seven to ten people to start.
5. Encourage friendships, networking, and business relationships within the club.