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"Strength in Numbers: Property Owners Associations Can be of Value"


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As a small multi-family rental property investor, consider joining one of the landlord associations in your area. In some areas, this may also be known as a "real estate investing club," or property owners associations. Whatever they're called, they can offer helpful educational and networking opportunities. To find an association in your area, try doing a search here.


OVERVIEW OF ASSOCIATIONS


The term real estate investing club may actually be a more accurate description, because that is what these are – clubs. Typically, each club will have monthly meetings at local hotels featuring seminars, guest speakers, networking opportunities, etc.

You will have an annual membership fee that generally ranges from $70-$150 per year. Non-members can normally attend meetings and pay a 1-time fee of $20 on average.

In addition to the meetings, many landlord associations offer newsletters, and discounts on events, seminars, and products or services.


BENEFITS OF ASSOCIATIONS


  • Access to educational materials to help you learn the business, avoid common mistakes, and keep up to date on legislative developments.
  • Networking opportunities with other investors, some of which you might be able to do business with.
  • Interacting with other successful investors can be motivating.
  • Discounts on products (paint, office supplies, etc.) and services (legal, accounting, lenders, contractors, tenant verification, etc.).




BOTTOM LINE


Property owners associations or a real estate investment club is worth joining if you can find one locally. The ability to interact with other like-minded investors alone is worth the price of admission. Plus, the discounts often pay for the annual membership fee.

So, whether you're a new or seasoned investor, landlord associations offer good value for the dollar.





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3 Responses to Strength in Numbers: Property Owners Associations Can be of Value

  1. Joseph R says:

    Excellent advice. I’ve been a member of a property owner’s association for 5 years now and it’s definately been worthwhile. Not only did I get hooked up with cheaper insurance and handyman costs, but I’m able to bounce ideas of of other like-minded investors. So I’d say do not wait – join a property owners associated in your area now.

  2. blue-me says:

    Hey – what should I do if there are no property owners associations near my house? I live in an extremely rural area so there’s not many options. Do they have associations that are strictly web-based?

  3. Tobi says:

    Landlord associations are extremely valuable! I found my attorney through mine. I’ve been using his services for almost 10 years now. Without having attended my local property owner’s association meeting I would have never made this great contact.

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