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The following was written by guest blogger Rebecca McLean, Executive Director, National Real Estate Investors Association
Part of the unique nature of associations is that they often feel secondary effects of economic trends. When the “housing bubble” burst in 2008 REIA groups, apartment associations and others felt the air deflate from their membership as well.
Many members were lost when they just couldn’t make it in the industry and those that were left needed serious support – legislatively, with better benefits and services to save time and money, and in the sharing of information each of us learned as we navigated the uncertain waters, post-crash.
The time of rebuilding became almost a boom with issues of its own. Today, in all industries, the economy is holding relatively strong but uncertainty still abounds.
Everything seems to move so much faster than in the past. The need to stay ahead and well informed seems to be more vital than ever. As GDP jumps around and other indicators seem to be harder to read, American companies have little room for error, and their associations have a prime opportunity to provide them with a competitive edge.
National REIA is ready and holds strong to its pledge to be the number one resource and voice for independent real estate investors across the nation.
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.
Rebecca McLean – Executive Director, National Real Estate Investors Association
Just above-average growth “is not growth that’s very forgiving. It’s not going to allow much maneuvering room,” says Christopher Kuehl, managing director of Armada Executive Intelligence.
The numbers fluctuate and seem unpredictable. Kuehl told Association Executives in attendance at the American Society of Association Executives that, in this environment, the members of the associations they manage are going to turn to those associations for the knowledge and advocacy that can keep them ahead of the game.
That fits into a longer-running trend of trouble in the jobs market, where shortages of qualified workers exist in several sectors, yet legions of unemployed and underemployed workers don’t have the skills to fill those jobs. Companies can’t fix this problem on their own.
“This is a problem waiting to be solved, but it’s tricky and takes commitment and training,” Kuehl says. As Dave Lockard from CBRE in the Cincinnati market said in his 2019 industry update, “We don’t have a jobs problem, far from it, but we do have a people problem.”
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:
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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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.
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