For investors, this shows up in shortages of qualified contractors, longer wait times for the processing of permits through government offices, and even longer times for deliveries. Investors are so intertwined with so many economic segments that challenges in almost any area effects their bottom line and sometimes more impactful, their project timelines.
Generational change is affecting the economy as well, Kuehl notes. Baby boomers have traditionally been spenders but may cut back as they enter retirement. “The big millennial generation filling the other end of the population, though, aren’t big spenders – in part because of the difficult job market they face,” he says.
This issue also effects investors as we are seeing spending trends spread their effect to the housing market. Boomers and millennials buy housing that is different as well as different types of rental properties. Attempting to track the buying vs. renting dynamic between the two has been a trend prediction we have chased over the last ten years with reasonable success.
Associations have to stay in touch with the economy and the challenges it creates for our members.
With all of these factors continuing to spread uncertainty in an otherwise optimistic economic time period, National REIA stands ready. We have expanded our updates and education to cover the topics needed to keep you informed.
We have also expanded our benefits and services to keep you ahead of the game – and your competitors – in this market. We just introduced REAL health insurance that will include coverage that includes prescriptions, allergy care and diabetic supplies – an offering we have been negotiating for several years.
We also are testing solutions for your other most pressing needs that we hope to announce at the first of the year. These are exciting times as we strive to build the utmost value for your membership.
As we bring these exciting benefits to market we often get questions about how to take advantage of these amazing offerings. Many local REIA members aren’t aware that by being a member of a local REIA group or Chapter they are automatically a member of National REIA.
Membership at both the local and national level is a huge value. You not only gain all the amazing local benefits but also the value of national benefits as well.
There is no other trade association in America that concentrates on the real estate investing industry. National REIA offers:
- A nonprofit mission, a trusted name, and an existing member base growing over 30 years.
- A substantial investment in an intelligence bank drawing interest on our legislative and educational efforts.
- An organization that continues to be member-oriented – in the benefits and services we provide, in the legislative focus that we have, in the education we offer – in literally everything that we do!
The more complex value we provide touches on our need to belong to something bigger than ourselves: a connection to a wealth of knowledge and experience that can alleviate the troubling business issues that we each face daily. The members who maximize their benefit develop friendships in both the local and national association while using the other services provided. In other words, their membership is really an experience that touches all parts of their lives. Our events such as MidYear for leaders and Cruise for individual members, provide the best opportunities you can imagine to network with your peers – those who are involved in the real estate industry and who are actively engaged with their local associations.
We believe National REIA is THE source for the resources, information, and support that you need for your real estate investing business.
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I plan to purchase a rental property with my IRA. Does the rental income have to go back into my IRA?
About the Author
Rebecca McLean is the Executive Director of National Real Estate Investors Association.
Rebecca McLean is not an employee of Equity Trust Company. Opinions or ideas expressed are not necessarily those of Equity Trust Company nor do they reflect their views or endorsement. These materials are for informational purposes only. Equity Trust Company, and their affiliates, representatives and officers do not provide legal or tax advice. Investing involves risk, including possible loss of principal.