Should You Join a Real Estate Club? Six Questions To Ask Yourself
1) What are my real estate goals? What are my financial and career goals? You should have written goals anyway, but if you are asking yourself if you should join a real estate club, you need to take a look at your plans and aspirations. That way, you can get a sense of where a club may help you. Evaluating your plans also lets you determine how realistic your goals are. You don't want to join a property investment club only to find that a club cannot help you with your plans to become a millionaire in a week.
2) What do I hope a club will do for me? There are many things that property investment clubs can do for members. Depending on the club, you may be able to network with successful investors, you may have seminar and workshop opportunities, you may be able to meet with industry experts and professionals. A real estate investment club may offer social events, trips to view properties, and even exclusive investment and job opportunity postings. It's important to decide which of these benefits are most important to you so that you can look for real estate clubs that offer you the benefits you want.
3) Is there a club in my area that has the benefits I need? While there are virtual clubs, there are also in-person clubs that allow you to attend meetings with investment professionals. Look for local clubs first, where you will be able to network in person, and then expand your search to online real estate investment clubs.
4) How else can I get my goals without a real estate club? While real estate clubs can provide plenty of benefits and can help you attain your goals faster, there are probably ways that you can secure some of the same benefits yourself. Even if you plan on joining an investment club, it's a good idea to outline what you can do yourself to attain your goals. This will help you evaluate how much a particular club can help you. If a club is able to offer nothing you can't do easily for yourself, maybe it's time to look for a more impressive real estate investment club.
5) What can I give to the real estate club? Are you able to offer a certain amount of investment money or membership dues? Can you offer some of your time to head a committee or volunteer? Often, if you can give more time to an investment club, you will be able to reap greater rewards because you will network more. Think twice about joining if you have little time- you may not be able to reap the full benefits. Consider managing your time so that you can devote your energy each week to the property investment club's offerings.
6) What are the club requirements and am I willing to do the research to find a good real estate investment club? Each real estate investment club has its requirements, and you need to make sure that you qualify for - and can afford - membership into the clubs that have the benefits you want. You also need to take the time to find the right club for you - one that offers the opportunities and the networking possibilities with the investment professionals you respect. Joining the wrong property investment group or spending time moving from club to club will not help you get ahead.
Ask yourself these six questions and give yourself the time to really answer them well. If you are wondering whether you should join a real estate club, the honest answers to these questions can save you time and frustration. More importantly, these questions can help guide you to the right decision for your future success.
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Eric Bramlett currently manages his Austin Real Estate Guide, his Tulsa Real Estate company's website, & his Austin Real Estate Guide.
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