b'Chapter 16How to Start an Investment ClubWhat is an Investment Club?Typically, to create an investment club, you would form a meetup that meetsperiodically,suchasweeklyormonthly.Oneportionofclub meetings should be set aside for investment education such as teaching members how to review offering materials, how to analyze deals, how to vet deal sponsors, etc.The second part of the meeting is for members to present investment opportunitiestothegroupalongwiththeaccompanyingofferingor investment materials they have gathered from the deal sponsors.Duringthemeeting(orasubsequentmeetingaftereveryonehas reviewed the offering materials) the group should vote on whether to invest. Ifyougetcommitmentsinwriting,youcanhaveeachyesmember indicate how much they will invest. Only those who vote yes are obligated to invest.How an Investment Club Makes Investments The investments will be made via a series of member-managed limited liabilitycompanies(thejointventurestructurewediscussedearlier) encompassing only those club members who were present and agreed to invest.148'