Starting Real Estate Invest Club

[stonerain]

Hi I am Starting a REIC in the Maryland area. Please Give me some suggestions administrative duties that would be needed. I am looking for only 14 people to start with. We are going to purchase commercial Rental properties. Any help any one could give would be appreciated. We are going to purchase buildings between 200k-300k.

Thanks Stuart

[djcunnin]

Hi there,

Where in Maryland are you?  I'm a newbie to REI, but my wife and I want to get into it.  Places to make connections or learn more (like here) would be greatly appreciated as well.

Thanks,

[kbrandau]

Put it in writing, there needs to be an agreement, like a partnership agreement, or an LLC with a buy in to the club, and all individuals owning equal shares of the organization.

Good Luck!