What are the advantages of being in a local investment club?
What are the advantages for someone who wants to a) buy a place for themselves and
b) also purchase one rental and perhaps another.
Knowledge and networking are what a real estate investment club can give you. The same reason Biggerpockets.com is a good place to join.
Knowledge is key to this game. Learning the pitfalls that other investors have made and then avoiding them yourself can prove invaluable.
Networking at REI club meetings can open up deals and contractors to you too. A wholesaler at that next REI club meeting might have the rental that you've been waiting for. And when your water heater goes out, or someone kicks in a door, the phone number of that contractor you met at the last meeting would be a good thing to have.
I'm not sure there is a better way to put it. The people you meet at a local investment club can be the keys to your success. You want to go and meet as many people as possible. Like many other businesses, real estate is not only about what you know, but who you know. People you meet may work with you on deals, or you could get deals sent your way.
I highly recommend visiting local clubs. I also highly recommend you participate here on our forums. I continue to get letters from investors who have gone out and made it happen after spending some time on our site learning. Make it happen!
I Run a Real estate club
The admins could not have said it better
networking is the key to any good club
People will pay thousands to hear the big name GURUs try to teach them how to invest, so why not pay the small fee of a local REI club to find out how to invest where you are from people actually investing where you live?
Want to know the benefit of a local club, NETWORKING WITH OTHERS THAT ARE INVESTING.
Surrounding yourself with likeminded people that are doing. The right club won't sell you, but encourage you to move forward to set goals and to reach those goals each month.
I am biased as to which club I think it best. Remember each club is different, so if you don't like one, try another.
All of the above posts are valid but you also gain experience just by asking questions.
In addition, some of these clubs have discounts at local areas that every consumer enjoys.
Membership in a club can catapult your success. You go from being a a one man (or woman) show to having a full team at your disposal. I run a rea lestate investment club and most of my rsources come from the club. I find contractors, deals, appraisers, hardmoney lenders, mortgage brokers, real estate agents, lawyers, cpas, and most important of all -- other real estate investors. This can be a huge boost to your confidence if you are new.
To answer you question specifically, you can probably find a house to live in through your club at a very good deal. I know I did. I live in a house that I bought at about 40% of ARV.