Investment Club Idea

[Fred Carter]

Just closed on a deal for 3 properties, 2 properties currently rented. I have an idea with investors in the area to do an investment club based on my properties for investors who do not have the time or energy to find deals and do the work that goes into the properties. The plan would be to have investors pool in $1k-$5k individually to get a 5-8% return. The idea would be to put money back into the investors pockets with a solid return better than a typical savings account or similar investments, meanwhile I can use the capital to grow my portfolio. Has this been done and is there a good example of this being done that I can copy?