REIC meaning in Business ?

Real estate investment clubs are clubs formed by individuals who want to invest specifically in real estate.

Individuals have long known that it is possible to make money by investing in real estate, but very few, proportionately speaking, have the capital available to be able to do any investing. The solution is for individuals to join real estate investment clubs (which need to be distinguished from a formally established [real estate investment trust], so that their money can be pooled together in order to purchase properties that they otherwise could not afford to buy.

Real estate investment clubs have been booming since the 1990s, so much so that the National Real Estate Investors Association was formed in the late 1990s. In 2002 they had 44 active affiliated groups, and in 2008 they had over 230 groups.

Real estate investment clubs vary between those that focus on single family homes, and those that focus on commercial real estate.