Real estate investment groups (REIGs) are groups of private investors who pool their finances and know-how to invest in real estate using various strategies. 

A real estate investment group, unlike a REIT, is not a taxable corporation with a board of directors governed by strict rules and criteria. REITs, for example, must have at least 100 investors by the completion of their first year and five or fewer individuals cannot own at least 50 percent of the REIT. 

Real estate investment groups, by contrast, are governed by private agreements rather than government regulations. REIGs have the flexibility of various structures, membership fees (if any), and degrees of participation. A real estate investment group may be a good choice for investors who want to own a stake in physical real estate.