2014 RE investment News
RE
investmentinvestmentinvestment
NEWSNEWSNEWSJanuary 2014 Volume 1January 2014 Volume 1January 20...
2 RE investment News 2014
MAREI, through it’s partnership with the Home Depot, offers
its members a 2% Bi-Annual Rebate on...
2014 RE investment News 3
MAREIMid-America Association of Real Estate Investors
A Real Estate Community
FAST IN AND OUT
Ti...
4 RE investment News 2014
From the Publisher
CONTENTS
Ten Years!
The years have crept up on us and MAREI
and the Real Esta...
2014 RE investment News 5
cover story
28
SUCCESSFUL
Real Estate Investors
Nine Characteristics
34
LEASE
PURCHASE
Five Comm...
6 RE investment News 2014
CONTENTS
Regular Features
9
New Rules
2014 Are You Ready
10
Mold
What You Need to Know
12
Networ...
2014 RE investment News 7
Industry Services
Don’t Toss another Seller Lead
for Lack of Buyers!
Let Us Review Your Lead . ....
8 RE investment News 2014
Market
Kansas City Real Estate Market Report
Sales Prices Up, Sales Up, Inventory Down
Year end ...
2014 RE investment News 9
Advocacy
The New Rules
For 2014 . . . Are You Ready?
Qualified Mortgages
 Consumer, Owner Occup...
10 RE investment News 2014
MOLD
WhatYOU NeedtoKnow
Hairy, black mold isn’t just unattractive–it’s un-
safe. Whether in you...
2014 RE investment News 11
exhaust fans whenever cook-
ing, dish washing, and cleaning.
6. Clean and dry any damp or wet
b...
12 RE investment News 201412 RE investment News 2014
2014 RE investment News 13
Marketing
2014 RE investment News 13
Networking
Nine Effective &
Efficient Steps to Success
By ...
14 RE investment News 2014
3. Show up in alignment with the
above two points.
Everything about you, from your
attitude and...
2014 RE investment News 15
and valuable, for you and for oth-
ers.
8. Give first.
This isn’t about giving away your
expert...
16 RE investment News 2014
The First Two Months
Are the Hardest
Chris Lengquist:
The first two months are always the harde...
2014 RE investment News 17
Industry Services
Insurance for
Vacant Properties
Rehab Properties
Renter Insurance for Your Te...
18 RE investment News 2014
Small Claims Court
Dealing with Deadbeat Tenants Cynthia Schmidt
What if the tenant vacates the...
2014 RE investment News 19
Monthly Speaker
Have you ever evicted a tenant and received a judgment for back rent?
Were you ...
20 RE investment News 2014
www.KCInvest.com
Looking for cash-flowing
or fix and flip
investment property
for your Self Dir...
2014 RE investment News 21
Industry Services
A Full Services
Environmental
Consulting, Testing &
Contracting Service
www.T...
22 RE investment News 201422 RE investment News 2014
Changes
The New FHA
MAREI Staff:
The Federal Housing Administration r...
2014 RE investment News 23
hoops to help make sure the sale goes
through the are channels.
Other real estate investors are...
24 RE investment News 2014
Learn how to save money at Home De-
pot and register for a 2% Rebate for all
purchases & rental...
2014 RE investment News 25
We have several services as part of our
website to help you grow your business.
Calendar of Eve...
26 RE investment News 2014
Why You Should Join
Your Local REIA
Group Tim Herriage
HomeVestors & REI Expo
Just recently I r...
2014 RE investment News 27
MAREIMid-America Association
of Real Estate Investors
Have a Product or Service
To Promote to R...
28 RE investment News 2014
REHAB FUNDING
28 RE investment News 2013
2014 RE investment News 29
SUCCESSFUL
Real Estate Investors
Nine CharacteristicsVena Jones Cox
In my 18 years in the real ...
30 RE investment News 2014
2. Successful investors net-
work.
Real estate investing must be
the only profession in the cou...
2014 RE investment News 31
COVER STOREY
activities and how they affect peo-
ple that you come into contact with.
6. Succes...
32 RE investment News 2014
How to Retail Houses, Sell Creatively
and when to Rent Properties.
How to Screen Sellers for Mo...
2014 RE investment News 33
BONUSES
for Paying in Full
Saturday MAREI Workshops
MAREI has 1 Saturday Workshop planned
for e...
34 RE investment News 2014
If you think you can be successful in real estate investing without making mis-
takes, you have...
2014 RE investment News 35
COVER STORY
36 RE investment News 2014
signs and flyers all over the neighborhood. Then final-
ly, you sell the house! You breathe a b...
2014 RE investment News 37
Success Strategies
Buyers to Reach.
Does it really need to be
said? Would you ever do business
...
38 RE investment News 2014
Full Day Workshop Saturday March 22nd
Joe McCall has been investing for over 7 years and he say...
2014 RE investment News 39
“ I believe there is no easier way than Wholesaling Lease Op-
tions to make quick chunks of cas...
40 RE investment News 2014
Wholesale Real Estate
Building Your Buyer’s List
Kim Tucker
“I want to get into this real estat...
2014 RE investment News 41
Wholesale
So what are your plans for 2014? Are they written
out and scheduled? Do you have an e...
42 RE investment News 2014
Success Strategies
goal, she didn’t need the chef and
the exercise coach at her house
daily to ...
2014 RE investment News 43
that 100 letters each week and hand
address the envelopes, stamp them
and take them to the post...
44 RE investment News 2014
Regulations
Owner Financing
D o d d F r a n k & t h e S a f e A c t
William Bronchick
LegalWiz....
2014 RE investment News 45
Regulations
however, nothing clearly in the Dodd-
Frank regulations address this. We
certainly ...
46 RE investment News 2014
Monthly
Meetings
There’s not a better investment in
yourself that you could make!
At our monthl...
2014 RE investment News 47
Investment News Page 5
LET US HELP
KEEP PROPERTIES MARKETABLE
Keep Costs Under Control & Meet T...
48 RE investment News 2014
Increase Your Profitability
Join Mid-America Association of Real Estate Investors
Members recei...
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The Real Estate Investment News: 1st Quarter 2014

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The Real Estate Investment News is the quarterly magazine for Mid-America Association of Real Estate Investors.

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The Real Estate Investment News: 1st Quarter 2014

  1. 1. 2014 RE investment News RE investmentinvestmentinvestment NEWSNEWSNEWSJanuary 2014 Volume 1January 2014 Volume 1January 2014 Volume 1 SUCCESSFUL Real Estate Investors Nine Characteristics LEASE PURCHASE Five Common Mistakes And How to Avoid Them f FINANCIALLY FIT Planning for Real Estate Success in 2014
  2. 2. 2 RE investment News 2014 MAREI, through it’s partnership with the Home Depot, offers its members a 2% Bi-Annual Rebate on top of any discounts you already receive through the Home Depot & its Pro Desk. Join MAREI Today, and start saving THOUSANDS TODAY . . . Rebates Start Tracking from the Day Registered Forward. PRO DESK Get the job done with Help from the Pro Desk. Visit MAREI at www.MAREInet.com for more infor- mation on Membership Meetings, Discounts on Prod- ucts and Services, and education for Real Estate Inves- tors, Landlords, and Industry Service Providers.
  3. 3. 2014 RE investment News 3 MAREIMid-America Association of Real Estate Investors A Real Estate Community FAST IN AND OUT Time is money — we’ll get you back to work quickly.  Dedicated Pro Desk Associates.  Two hour advance order pulling. In Store Hands On—How To Workshops Want to learn How a project is completed. Check out our work- shops.  In store workshops each month, check out our website and your local store.  Access step by step video 24-7 on our website—look for our Project Guide Library 10% Price Guarantee If you find a lower price on identical in-stock item  We will match the price & beat it by 10%.  Excludes special orders & bid pricing and others—see website for complete details. GREAT PRICES JUST FOR PROS We Offer everyday low prices, plus more ways to save on larger orders.  You can count on competitive pricing on everything in every de- partment  Volume pricing discounts available on purchases as low as $2,500.  Instant bulk price savings available 1000s of items. The Home Depot’s EXCLUSIVE Discounts & MAREI Member BENEFITS
  4. 4. 4 RE investment News 2014 From the Publisher CONTENTS Ten Years! The years have crept up on us and MAREI and the Real Estate Investment News is cele- brating our 10 year anniversary. We have came a long way since that long ago Sell-A-Thon Real Estate Convention at Wealth Builders in Tampa Bay where it rained for 4 days straight, forcing us to bypass the beach and enjoy 100% of the entire confer- ence. We were subjected to training speakers from 8 am to 10pm every day for 3 1/2 days and we spent many hours networking with the members Wealth Builders finding out what it is that they liked about their group why they at- tended. We also spend many hours talking to their group leaders before, during and after the event getting tips on how they managed their REIA group. The result was after four days that we came home with a course on how to Wholesale Houses, which made me $10,000 after I finally implemented it and that I still re- fer. Plus we came home with a business plan for our own Group. With the help and support of a few key friends and business associates, we launched MAREI in January of 2004 with $300 for a marketing budget and my 3000 member buyer database. At the high of the market in early 2008 we were approaching the 500 mark in membership and we weathered the downturn quite well. We could not have survived with out the help and support of our Members who Attended, our Business Members who provided services and Volunteers who helped in many capacities. We have recently added an Executive Director to manage the MAREI office, websites and coor- dinate events. We hope with this addition we will be better able to serve our membership base. In the next 10 years we want to work with our members to have more involvement in the com- munity and a stronger voice in our local, state and government affairs. We know that with your support we will be able to reach that goal. We are looking for committee volunteers to take part in both of these projects. Kim A. Tucker Publisher & Founder of MAREI
  5. 5. 2014 RE investment News 5 cover story 28 SUCCESSFUL Real Estate Investors Nine Characteristics 34 LEASE PURCHASE Five Common Mistakes And How to Avoid Them 40 FINANCIALLY FIT Planning for Real Estate Success in 2014 CONTENTS
  6. 6. 6 RE investment News 2014 CONTENTS Regular Features 9 New Rules 2014 Are You Ready 10 Mold What You Need to Know 12 Networking Nine Effective & Efficient Steps to Success 16 The First Two Months Are the Hardest 18 Small Claims Court Dealing With Deadbeat Tenants 22 Changes The New FHA 26 Why You Should Join Your Local REIA Group 44 Owner Financing Frank Dodd & the Safe Act Regular Features 8 Market Report 24 Member Benefits at a Glance 40 Monthly Meetings & Dates January 2014 PUBLISHER Kim Tucker ADVERTISING INFORMATION 913-815-0111 info@MAREInet.com RE INVESTMENT NEWS IS PUBLISHED IN ASSOCIATION WITH MID-AMERICA ASSOCIATION OF REAL ESTATE INVESTORS 8014 State Line, Ste 210 Prairie Village, KS 66208 www.MAREInet.com 913-815-0111 DISCLAIMER Mid-America Association of Real Estate of Investors and the RE Investment News does not exist to render and does not give legal, tax, economic or investment advice and dis- claims all liability for the action or inaction taken or not as a result of communica- tions from or to its members, officers, directors, employ- ees and contractors. Each individual should consult his/her own counsel, account- ant and other advisors as to legal, tax, economic, invest- ment and related matters con- cerning real estate and other investments. The views and opinions ex- pressed by authors of arti- cles contributed to this newsletter do not necessarily reflect those of the associa- tion, the board of directors or the staff. Rehab Workshop Success Tips Saturday January 18th With Dave Williams Short Workshops Get Your PHP Credits Saturday March 22nd
  7. 7. 2014 RE investment News 7 Industry Services Don’t Toss another Seller Lead for Lack of Buyers! Let Us Review Your Lead . . . Assign to us or partner with us. Submit kcmoHomeBuyer.com Houses & Notes WANTED APIAProtects.com
  8. 8. 8 RE investment News 2014 Market Kansas City Real Estate Market Report Sales Prices Up, Sales Up, Inventory Down Year end reports for the Kansas City Housing Industry support that 2013 was a good year for Real Estate in Kansas City. Permits for single family construction was at 4087, the first time they were over 4000 since 2007 and up 24 percent over 2012 according to the Home Builders Association. Multi Family permits were up 62.2 percent over last year. The year also closed strong with the existing home prices up 95% and new homes up 3% over 2012. According to the KCRAR we are now in a seller’s market with only a 4.1 supply of existing homes on the market at the end of 2013 after having a balanced market for most of the past year Get involved: MAREI is looking to partner with our mem- bers and business Associates for a Habitat for Humanity House Project, a Summer in July Type Project, a Blood Drive, Project Warmth and/or a Food Drive for Harvesters. If this is a project your company has been considering, or you might be willing to chair a committee to organize a community project, please email Kim@MAREInet.com.
  9. 9. 2014 RE investment News 9 Advocacy The New Rules For 2014 . . . Are You Ready? Qualified Mortgages  Consumer, Owner Occupied Loans  Verify and Document Borrowers are Qualified  Must be fully amortizing, no Balloon Payments  Fixed Interest Rate for First Five Years  Can adjust no more than 2 points per year with cap of six points from original rate. And it must be tied to the Prime Rate at the Start.  Have to Prove and Document the Borrowers Ability to Re- pay, not just the initial rate, but the Adjusted Rate  Standard Debt to Income Ration of 43% If borrower goes into Default  For the Life of the Loan, if it goes into foreclosure, the Bor- rower can claim faulty underwriting and go payments, in- terest, fees, and all legal fees. More Information:  See Article Page 38  See Website: www.MAREInet.com/QM  Dodd Frank E-Book from Alan Cowgill MAREInet.com/AC-Dodd-Frank Foreclosures Decline 26% The Kansas City Star reports that hoe foreclosures at the national level are at their lowest level since the early stages of the mortgage crisis. RealtyTrac reports that default no- tices, schedule auctions and bank repossessions are down 26 per- cent in 2013 from the previous year. “Shadow cast by the foreclosure crisis is shrinking” according to Daren Blomquist at RealtyTrac and he predicts a greater drop in fore- closures in 2014. Foreclosure rates have also dropped in the KC Metro area with Kansas down 39 percent and Mis- souri down 40 percent in 2013 over the previous year.
  10. 10. 10 RE investment News 2014 MOLD WhatYOU NeedtoKnow Hairy, black mold isn’t just unattractive–it’s un- safe. Whether in your home or place of business, mold could be an issue and your health at stake. Sure, the idea of throwing a dinner party at your moldy home isn’t an option–who wants to show off their hairy, black regions? But, the risk of grossing out your friends is just superficial. The real concern is the underlying risks you’re taking by living in moldy conditions. A mold problem can usually be seen or smelled– but not always. Mold growth may often appear as slightly furry, discolored, or slimy patches that in- crease in size as they grow–or it could be danger- ously hidden out of site. Often times they produce a musty odor, which may be the first indication of a problem–or when hidden, the first sign is your failing health. The best way to find mold is to examine areas for visible signs of mold growth, water staining, or fol- low your nose to the source of the odor. If you can see or smell mold, you can assume you have a mold problem. Other clues include excess mois- ture and water damage. It may be necessary to look behind and underneath surfaces, such as carpets, wallpaper, cabinets, and walls. There are some areas of the home that are always suscepti- ble to mold growth and should be part of routine cleaning to keep them under control. The EPA’s: Ten Things You Should Know About Mold 1. Potential health effects and symptoms associ- ated with mold exposures include allergic re- actions, asthma, and other respiratory com- plaints. 2. There is no practical way to eliminate all mold and mold spores in the indoor environment; the way to control indoor mold growth is to control moisture. 3. If mold is a problem in your home or school, you must clean up the mold and eliminate sources of moisture. 4. Fix the source of the water problem or leak to prevent mold growth. 5. Reduce indoor humidity (to 30-60%) to de- crease mold growth by: venting bathrooms, dryers, and other moisture-generating sources to the outside; using air conditioners and de- humidifiers; increasing ventilation; and using 1010 RE investment News 2014
  11. 11. 2014 RE investment News 11 exhaust fans whenever cook- ing, dish washing, and cleaning. 6. Clean and dry any damp or wet building materials and furnish- ings within 24-48 hours to pre- vent mold growth. 7. Clean mold off hard surfaces with water and detergent, and dry completely. Absorbent ma- terials such as ceiling tiles, that are moldy, may need to be re- placed. 8. Prevent condensation: Reduce the potential for condensation on cold surfaces (i.e., windows, piping, exterior walls, roof, or floors) by adding insulation. 9. In areas where there is a per- petual moisture problem, do not install carpeting (i.e., by drink- ing fountains, by classroom sinks, or on concrete floors with leaks or frequent condensa- tion). 10.Molds can be found almost any- where; they can grow on virtual- ly any substance, providing moisture is present. There are molds that can grow on wood, paper, carpet, and foods. (Sourced from epa.gov) GOT MOLD? Call Titan Environmental at 816- 561-0959 today for a free consultation. Or visit them online at www.titankc.com! Who is Titan? Titan Environmental Services, Inc. (TES) was established with the pri- mary purpose of offering more effi- cient and personalized client ser- vices. They are a Minority and Women owned business based in Kansas City, Missouri serving both the private and public sectors throughout the Midwest region and beyond. They are the “go-to” envi- ronmental agency, which can assist your firm, agency or organization with any environmental management and/or regulatory compliance issue facing your existing and future pro- jects. Titan is dedicated to serving its cli- ents in a professional and cost- effective manner. Their highly skilled team includes industrial hy- gienists, inspectors, various level abatement and remediation project managers, and field technicians with years of environmental consulting, testing and contracting experi- ence. This combination of technical expertise, multi-variable project management experience and a dedi- cated industrial hygiene staff allows all TES employees to serve as a part of a well-rounded, professionally em- powered team. What does Titan do? As a full-service environmental con- sulting, testing and contracting com- pany, they provide a wide-range of environmental management and in- spection services for asbestos, lead- based paint, mold and suspected meth labs. Though they are based in Kansas City, Missouri, they serve the entire Midwest region; from Min- neapolis to Omaha, St. Louis to Wichita, Little Rock and beyond. 2014 RE investment News 11 Member Spotlight
  12. 12. 12 RE investment News 201412 RE investment News 2014
  13. 13. 2014 RE investment News 13 Marketing 2014 RE investment News 13 Networking Nine Effective & Efficient Steps to Success By Patti DeNucci and Ed Rigsbee, CAE, CSP Ever wonder why some people are so powerfully connected, are the first to hear about great opportunities, and earn more quality referrals? The answer may surprise you. To attract more success in business, you don’t have to network more; you just have to network more intentionally. This means becoming more focused, engaging, trusted, and memorable. And not necessarily with more people, but with “your people”—meaning the people who natu- rally bring the most value into your world. After years of experience and study, we’ve discovered your networking success boils down to nine critical steps. Here they are for you, presented in their most basic form and derived from Patti’s award-winning book The Intentional Networker: Attracting Powerful Relationships, Re- ferrals & Results in Business. 1. Know yourself. It truly is not selfish or narcissistic to practice self-awareness. This involves knowing your strengths, weaknesses, beliefs, passions, preferences, and traits. Fact is, knowing yourself is a key component to creating success and building connection. It breeds authenticity, enthusi- asm, and discernment, which helps others see and “get” the real you more readily. 2. Know what you want. If you are vague, ambivalent, scattered, or unsure of your vision, intention, and goals, then you are likely drifting along, preserving the status quo, and possibly even invisible to others. Clarity and focus go a long way to helping you become more memorable, which in turn means others are clearer and more focused on how to help you.
  14. 14. 14 RE investment News 2014 3. Show up in alignment with the above two points. Everything about you, from your attitude and appearance to your correspondence and conversation, gives off messages. What’s more, you have mere seconds to make a first impression. If your image doesn’t line up with whom you say you are and what you aspire to, then confusion, disengagement, and distrust can result. Be sure everything associated with you and your career or business is congru- ent with who you are and what you want. 4. Focus on quality, not quantity. People often believe that doing lots of networking and having hundreds of contacts and connections equal greater success. Not so fast! Rather than adding more new peo- ple to your network, invest some time identifying your most valuable connections; the ones who not only bring you referrals and opportuni- ties, but also provide you with valu- able insights, information, and sup- port. Focus on these top connec- tions for a while. The same goes for your networking activities. Which ones really bring energy, value, and results to your career or business? Next, make a list of the traits that make these top people and events valuable to you. Note for future ref- erence how you originally met or heard about them. This information will help you recognize and attract more of the same. You’ve just cre- ated a faster track to your success! 5. Say no with grace. Once you identify your top contacts and networking activities, you’ll start to see who and what no longer serves you. It will be easier to priori- tize, which is crucial to your net- working efficiency and suc- cess. Figure out who and what needs to be edited out (or given less attention). Gradually— and graciously—back away from those who drag, drain, and disena- ble you. 6. Focus on your best connec- tions. Stay in touch with your best con- nections. This means reaching out and staying top-of-mind on a regu- lar basis. Invest a few minutes each day to sending friendly, helpful, grateful, congratulatory, or support- ive notes to your valued connec- tions. Set up one or two weekly strategic coffee or lunch dates. Attend a few targeted business or association events each month. Organize and make time in your weekly routine to follow up and succeed utilizing the above. The key is doing these things regularly and consistently. 7. Stand out in the crowd. You just never know where or when an important conversation will take place, when an opportunity will arise, or when you will run into a valued colleague or customer. Be ready, alert, and aware. Live your brand and allow it to guide how you show up and conduct yourself. Show genuine interest in other peo- ple by being the first to say hello, offering a professional handshake, and engaging in friendly conversa- tion. Ask questions that show inter- est. Then take the time to actively listen to what others have to say. With a little extra effort and courtesy you can make connections and meetings so much more memorable Marketing New to MAREI, Meeting Tips 1. Taking Your Seat: Remember during the networking portion, this is your time to get up and speak to several new people you don’t know. By all means mark the seat you want to take for the presen- tation portion, but don’t sit for an hour and wait. Get up and visit with vendors, browse the deals on the marketing table, visit with people you know, AND go meet 3 or 4 new people. 2. Business Cards: Spend $20 at Vista Print and get something that you can use. It does not have to be perfect. Include your name, company name if you have one, contact information and a bit about what it is that you do. If you have a business outside of real estate, that you would like to share , utilize that business card.
  15. 15. 2014 RE investment News 15 and valuable, for you and for oth- ers. 8. Give first. This isn’t about giving away your expertise or time randomly. It’s about offering a positive attitude and a willingness to listen and offer ideas to those you meet. This dra- matically separates you from peo- ple who focus only on themselves. Certainly it’s okay to be purposeful and focused on what you’re seek- ing, but sincere acts of generosity are rare and endearing. 9. Reap your reward. Consistently practice steps 1 through 8 and you’ll be on your way to making more powerful connec- tions, earning more likability and trust, and attracting more referrals. But add one more step: thoughtful- ly, concisely, and most of all humbly (and without assumption) educate others on what you’re seeking and what constitutes good opportunities and referrals for you. If you are gen- erous in giving to others, help them respond in kind. Copyright © 2013 by Patti DeNucci & Ed Rigsbee Marketing 3. Deals: If you have real estate deals, print flyers for the General Marketing Table. All attendees can place a stack of flyers for their own products and services or business cards. Be sure your Name and contact information is included. Have a lot to share, then please reserve vendor table. 4. Traffic Flow: We want you to get the most of networking. So please check in and get a name tag quickly then move out of the check in table traffic. If we cause a traffic jamb, the harder it is for people to get in, and the fewer people you will get to meet. These are just a few basics that can help you slow down, get focused, and sow the seeds of more powerful relationships and quality referrals. Take the next step to learning even more by requesting your free sample chapter from Patti’s book The Intentional Networker. Email her at Patti@IntentionalNetworker.com today. Patti DeNucci is a business networking and referral attraction expert, profes- sional speaker, and award-winning author of The Intentional Networker: At- tracting Powerful Relationships, Referrals & Results in Business. She is a founding board member and current president of the Austin chapter of the Na- tional Speakers Association. www.IntentionalNetworker.com Ed Rigsbee, CAE, CSP, is the author of several books and over 2,000 articles on business growth through collaboration and strategic alliance development. He travels internationally lecturing on the topic and helps organizations to reach farther through alliance relationships. www.rigsbee.com
  16. 16. 16 RE investment News 2014 The First Two Months Are the Hardest Chris Lengquist: The first two months are always the hardest. I’m talking about when we take over a rental property for the first time. Whether it’s already been managed by your or we have just finished rehabbing the house and now it’s ready to rent (well,e specially if it’s being rented after rehab) we find that the first two months, from a property management standpoint are always the hardest. Why? If we are taking over the property the tenants usu- ally will want to tell us why. Let’s face it. If we are taking over a property it is probably because someone else hasn’t been doing a bang-up job. So first we have to clean up the deferred maintenance issues that are no doubt present, smooth over the tenant and do all this without freaking out your check book too much. If we are renting a house that just got through with an extensive rehab then there are all sorts of things that may not have shown up in the re- hab. For instance, you can run drains and flush toilets for construction crews but until you have a house full of people using toilet paper and using the toilets often you cannot know if there is a prob- lem somewhere deep down the drain line. Or per- haps the furnace only works intermittently because of some weird deal. We always find at least a few things like this. The caution here? Just make sure you have some repairs dollars still set aside for the first couple months of new tenancy. After that it usually slows down to just an occasional trickle of problems. But those first couple months I can almost guarantee you we will speak quite often. Monthly Speaker Setting Goals in 2014 Instead of making resolutions you may never in- tend to keep, may I suggest setting your 2014 goals for your real estate investing ventures? How many properties do you own? How many would you like to own? Here are some things to think about as you are setting 2014 goals;  Should you sell or exchange in 2014?  Should you buy?  Should rents be moved up or down?  Is it time to change who manages the property?  Is this the year to catch up on deferred mainte- nance?  Have a good tenant? Maybe it’s time to send them a “thank you” letter.  Any value-added improvements that could be done? Hopefully those few things can get you started on your planning for next year.
  17. 17. 2014 RE investment News 17 Industry Services Insurance for Vacant Properties Rehab Properties Renter Insurance for Your Tenants Business Insurance Umbrella Liability Health Insurance Life Insurance www.MOFB.com Stephanie Cunliff 816-781-4370
  18. 18. 18 RE investment News 2014 Small Claims Court Dealing with Deadbeat Tenants Cynthia Schmidt What if the tenant vacates the rental property owing back rent, damages above the security deposit and/ or an unpaid utility bill? The majority of real estate investors across the country will rationalize to themselves “I got my place back” or “I don't care about the money”. That was not good enough for me, I didn't get into real estate investing to have my profits stolen from a non-paying tenant. I deserve every dime the tenant owes me and I knew I had to get aggressive to prove to the non-paying tenant that I mean business! This is when a Small Claims lawsuit is filed with the clerk of the court. The average time allowed to file after the infraction in the 50 states is 5 years. So, the investor has 5 years to pull the judgment debtor into Small Claims to obtain the judgment. At the court hearing, the Judge or Magistrate will have to be presented the rental agreement to render a money judgment concerning any back rent owed. When seeking a judgment concerning damages above the security deposit, he/she will want to see a copy of the itemized statement concerning the deposit that was sent to the tenant 30 days vacating and all pictures and receipts of the excessive damages. If it is for the unpaid utility bills, he/she will ask for the rental agreement that states the tenant's responsibilities concerning the utilities and the unpaid utility bills. Once the judgment is awarded in Small Claims Court, the Judgment Creditor will have to proceed to the post-judgment proceedings to collect. So, when I hear through the grapevine that it isn't worth the paper it is written on- I challenge that statement! I have collected 90 satisfied judgments and I haven proven to those 90 tenants that I want my money! Monthly Speaker March Main Meeting Cynthia Schmidt Collecting Back Rent
  19. 19. 2014 RE investment News 19 Monthly Speaker Have you ever evicted a tenant and received a judgment for back rent? Were you able to collect on the judgment? No? Would you like to know how to collect all the back rents due you? If so you will not want to miss hearing Cynthia Schmidt at our Main March MAREI Collecting Back Rent and Judgments!? Now I know what you are thinking --this will not work in Texas! That is what I thought too! But after five minutes on the phone with Cynthia Schmidt--she had me con- vinced that this should be a very interesting meeting. You owe it to our profession and yourself to give the Schmidt's 90 minutes to enlarge your vision. A must for the serious investor that wants to change the mindset when dealing with a non-paying tenant. Here is just some of what will be covered... --> Serving of the Notices --> Forcible Entry and Detainer --> Small Claims --> Abstract of Judgment --> Writ of Execution-Personal Property --> Writ of Garnishment (Bank Levy) --> Subpeona Duces Tecum --> Show Cause Hearing --> Contempt to Judgment Satisfied --> And much much more Tuesday March 11th Main Meeting. Register on the calendar of events at MAREInet.com About the Speakers Cynthia and Gary Schmidt have been landlords for 20 years with over 500 tenants. Fifteen years ago, they ventured into post-judgment proceed- ings and has collected 90 satisfied judgments. In 2005, they wrote their first Collect Back Rent Manual and the filming of their first DVD. Today, after constantly improving they have comprised the 50 State Overview Books-Dvd's with an additional book for each of the 50 states. They have been endorsed by Jeffrey Taylor (Mrlandlord) and have spoken on his 22nd An- nual Cruise and Convention this year with great reviews.
  20. 20. 20 RE investment News 2014 www.KCInvest.com Looking for cash-flowing or fix and flip investment property for your Self Directed IRA? The KCInvest Team offers one of the top selections in the KC Market. Visit our Website view our Current Properties and Mortgage Notes Register Yourself and Your Buying Criteria.
  21. 21. 2014 RE investment News 21 Industry Services A Full Services Environmental Consulting, Testing & Contracting Service www.TitanKC.com 816-561-0959 See Web for RRP Training
  22. 22. 22 RE investment News 201422 RE investment News 2014 Changes The New FHA MAREI Staff: The Federal Housing Administration recently announced they were going to reduce loan limits, one of their high costs areas. They raised these limits back in 2008 when the financial markets just were not making loans and the economy was entering the recession. The FHA raised the limits to help support our failing housing industry and the economy at large. Since that time, the economy and the housing sector has recovered and the government wants to mini- mize their exposure to losses from higher end loans. So here is what to expect for 2013 1. Loan Limits will be reduced. That means that on average the maximum price of a house they will finance in the Kansas City Metro area be $278,300. 2. Jumbo Mortgage Loans will be coming back, but with harder qualifications in terms of credit histories and debt to income ratios. So while FHA will finance people sooner out of foreclo- sure, short sale or bankruptcy, the Jumbo bor- rowers will in most cases have to wait the full seven years or have a 30 percent down pay- ment. 3. Credit Scores are going to need to be higher. The higher the score the better the loan you are going to be ble to obtain. 4. Borrowers May Need a Minimum 20 Percent for Down Payment. If you are not getting an FHA loan you are going to see that 20 percent down is going to be the new normal in many markets. 5. With larger down payments and harder FHA standards, borrowers are going to be turning to friends and family for documented gift money to help them purchase the property. 6. Lenders are going to be looking at the borrow- ers reserve funds to cover future payments. While FHA does not have a requirement on re- serves, most jumbo loans do. For example you may need six months of mortgage payments in your post closing escrow account. 7. Buyers may have to buy houses they can actu- ally afford rather than buying the big house and hoping their income grows to afford the larger house. Or they may want to wait to buy while they spend time to save up a substantial down payment. 8. Keep in mind that the housing market is show- ing a strong improvement and while FHA is re- ducing limits, other types of loans are stepping up to fill the gap. Real Estate Investors need to keep a strong eye on what is going on in the mortgage markets as this will affect how hard it is for buyers to get traditional bank and mortgage company lending. Investors who retail houses to owner occupant buyers will often have to jump through special
  23. 23. 2014 RE investment News 23 hoops to help make sure the sale goes through the are channels. Other real estate investors are offer crea- tive financing options for their buyers through lease options and seller financing. These options are also being challenged by new rules. Join us on Wednesday February 19th when MAREI Business Member Beth Langston, a loan officer at Pulaski Bank in Lee’s Sum- mit hosts MAREI’s roving meeting for the month. We will have an open house for networking and a discussion about chang- es in FHA lending and how this will affect us as home sellers. 2014 RE investment News 23 MAREI ROVING MEETING New for 2014: Starting in January 2013, MAREI will no longer hold the secondary north- land meeting. The main monthly meeting will con- tinue on the 2nd Tuesday of the Month, as it has been for the past 10 years. The secondary meeting will vary by month.  January’s secondary meeting will be hosted by Chris Lengquist of Keller Williams in Olathe.  February’s will be hosted by Beth Langston of Pulaski Bank in Lee’s Summit.  March on the 5th Monday we will be going back up north for a net- working and discussion. Location and topic yet to be determined, watch the MAREI calendar.
  24. 24. 24 RE investment News 2014 Learn how to save money at Home De- pot and register for a 2% Rebate for all purchases & rentals across the US. Plus 20% Discount on Paint in Kansas City. And coming in 2013 the New Home Depot App for iPad exclusively for Chapter Members to use in project esti- mation on home repair and remodel. All members receive a discount card to access our exclusive discounts up to 40% off all paint, supplies, and flooring—nationwide. Websites for investors, landlords, and other services. FREE trial. Email and Social Media Marketing, Free Trial and Discounts for paying in ad- vance. Screening for tenants & workers with 20% discount for members. FORMS & DOCS Member Library is packed with forms and docs to use in your real estate business. Market your rentals on the nations top ranked rental site. Member discount is 20% off Regular Prices. Save on select FedEx Office copy and print services up to 20% and on Fed- Ex Shipping up to 22%. Receive discounts up to 65% on over 12,000 products you use the most online and in store. MAREI’S MEMBER BENEFITS PROGRAM YOUR MEMBER BENEFITS AT-A-GLANCEUSE THIS PAGE AS A GUIDE TO VALUE ADDED DISCOUNTS TOOLS AND SAVINGS CREATED JUST FOR YOU ON GOODS AND SERVICES YOU USE EVERY DAY. E-Update MAREI’s award winning weekly email update with what’s happening in real estate including properties for sale, gov- ernment affairs and local market data. Investment News The award winning newsletter for Mid- America Association of Real Estate In- vestors: published monthly and distrib- uted both in print at our meetings and digitally to our database of over 5000 people. One of the best ways to get your message in front of a targeted group of real estate professionals. Free issues of both magazines available at the monthly meetings of MAREI. Landlord Services Office Solutions Suppliers Marketing News & Information
  25. 25. 2014 RE investment News 25 We have several services as part of our website to help you grow your business. Calendar of Events to stay up to date with all of our activities. Browse the member properties to find your next deal. Take the time to post your investment opportunities for other mem- bers and site visitors to browse. The Member Library is packed and ever growing with pdf versions of entire books, EBooks, Articles, Forms, and Documents. Nearly 70% of QuickBooks users say that it makes their business more prof- itable. Get your Accounting on track. Buy at a 20% discount our special links from the MAREI Web Site. REAL ESTATE BOOKS The nation’s largest provider of real estate training materials, DEARBORN is America’s Premier Real Estate Publish- er. Members receive up to 40% off. Special member discounts for members at Avis, Budget, and Enterprise Rentals. The Local Market Monitor tracks real estate sales and economic trends nation wide. Offering 25% Discount for Mem- bers. MAREI’s Political Advocacy Group ac- tively monitors national legislation and rule-making that impacts the real estate industry and harnessing the strength of MAREI members at the grassroots level. MAREI members also receive timely Calls to Action when there is a time for our mem- bers to take action on an important vote. Members also have access to the latest in Market Data. Other Discounts VISIT www.MAREInet.com Look under Resources & Members Only Member Service
  26. 26. 26 RE investment News 2014 Why You Should Join Your Local REIA Group Tim Herriage HomeVestors & REI Expo Just recently I returned from a National REIA mid-year conference in Pittsburgh. Needless to say, I was very im- pressed with the organization and all the hard work and dedication put forth into the event to make it a success. This was a “coming together” type of mastermind group of REIA leaders so that they could compare notes and ideas there to hopefully do a better job with their local REIA groups. For me personally, my REIA experience started in 2003 when I was struggling with additional financing for my Real Estate investing. The irony was not only did I find additional financing but I found a whole new career in note investing of which I can attribute directly to the education I had received from my local REIA in Philadelphia. So take note from me, if you’re in the note business, you need to be a part of your local REIA. And here are 3 rea- sons why: 1.) Education – this was the beginning for me as I was introduced to people like Jimmy Napier, Donna Bauer, Pete Fortunato, and later on Eddie Speed. My local REIA offers monthly meetings with guest speakers and Saturday work- shops. When I was getting started, I took every single weekend workshop I could. I’m glad I did it too because I never would’ve networked or learned as much as I did in such a short amount of time. Some of these speakers and fellow REIA members became mentors to me, and in turn I did the same to others. If you’re looking for a coach or mentor you’re REIA group is a great place to start. 2.) Sources of Capital – Not only to build relationships with like minded investors, I made a lot of friends who still in- vest in my Real Estate projects as well as my current note funds today. And it’s not just the people I’ve met, but also the sources I have learned about. 37% of the capital that we raise is from Self-Directed IRA’s, a technique I learned about at a REIA meeting. 3.) Networking – My REIA group has turned into a great distribution network for my deals, both hard real estate and notes. It’s funny, now when I go to a meeting I see two groups – note investors…and everybody else. Being in such a niche business is great because within our REIA we’ve built a little community where we can see each other at least every month to discuss deals and give advice. I love it! Now if you’re in the note business and you’re not in a REIA group, I strongly urge you to consider joining and maybe even actively participating. I’m not saying you have to be a speaker like me, but maybe you can become a vendor or a volunteer that just helps out. You’ll not only help out your local REIA, but you and your business could get more recognition. If you don’t have a meeting in your area, you could start one yourself. As Tom Hennigan pointed out there’s over 38,000 members in National REIA, with chapters both for profit and non-profit alike. So if you want to get an education, sell a note, or meet like minded investors join or start a local REIA today. Membership
  27. 27. 2014 RE investment News 27 MAREIMid-America Association of Real Estate Investors Have a Product or Service To Promote to Real Estate Professionals Who Live or Invest in Kansas City Business Membership By far the best bang for your buck when targeting the Real Estate Professional for your product or ser- vice in the Kansas City Metro would be a Business Membership with Mid-America Association of Real Estate Investors. The business membership includes all the access to our website and all the discounts that our Standard Investor Membership. However, unlike the Investor Membership that is for the person, the Business Membership follows the Business. So as a Busi- ness you receive two guest passes to every monthly meeting (20+ meetings a year) that can be used by the same two people or interchanged among sever- al people each month. Advertise in our Newsletter Also included in a Business Membership is an ad- vertisement in our monthly newsletter, the Invest- ment News. This is published once a month and posted on our website, our social media pages, sev- eral online file sharing sites and emailed out to our 5000+ database. We highly recommend submitting educational articles for the newsletter for maximum exposure. Advertise on our Website Our website has a Service Provider Section that provides you with a home on our website where you can create a full page advertisement of your choos- ing and link it to your website. Some examples of ad pages might include: a photograph, two or three short paragraphs, an embedded video, contact in- formation and a sign up page for your product or service. We can make it as elaborate or as simple as you would like. Also submit educational articles and videos for our blog. Industry Services Residential & Single Family Commercial & Multi Family Institutional & Bank Owned Farm & Development Land www.CatesAuction.com Missouri: 816-781-1134 Kansas: 913-378-1134 Toll Free: 877-781-1134 Karl Dunivant 816-343-8887 (work) 816-500-1527 (mobile) ChoiceCabinet.com
  28. 28. 28 RE investment News 2014 REHAB FUNDING 28 RE investment News 2013
  29. 29. 2014 RE investment News 29 SUCCESSFUL Real Estate Investors Nine CharacteristicsVena Jones Cox In my 18 years in the real estate business, I bet I've met 100,000 investors at all levels of knowledge and experi- ence. Some have become amazingly successful, while others have lost steam or experienced dramatic failures. In this time, I've noticed that there are certain characteristics that come with real estate investing success. As a mat- ter of fact, that I have come to believe that I can predict with fair accuracy whether a particular investor will be suc- cessful. All I have to do is find out a little about their attitudes and actions, and I'll know what their chances of be- coming successful are. Before I outline the specific characteristics that I've found in successful investors, I’d like to define what I mean by "successful investor". A successful investor is NOT the person who owns the most properties or does the most deals, or who has the most zeros in his net worth. A successful investor is simply a person who knows what he wants - financially, personally, and in terms of what he wants to contribute to the world - and uses real estate in- vesting as a way to get those things. For a successful real estate investor, real estate is a means to an end, not an end unto itself. A successful real estate investor works to become as financially secure as is necessary for his peace of mind and who is happy and comfortable with his investment activities. Successful investors I've known include high school dropouts and PhDs, men and women of all races and back- grounds, people born into poverty and people born with trust funds, guys who started investing at 19 and those who started in their 70's, part-timers and full timers. There is no single predictor of success, but there are things that I've found that all successful investor have in common. Here are a few. 1. Successful investors have a plan - and work it. It's simple enough to put pen to paper and figure out how to become financially independent in 2 or five or ten years. It's another thing altogether to wake up each morning and do the things you need to do to reach this goal. Somehow, your real life always seems to get in the way of your long-term goals. Successful investors battle this tendency to get caught "in the thick of thin things" by creating not just a list of goals, but a daily plan for getting there. COVER STOREY
  30. 30. 30 RE investment News 2014 2. Successful investors net- work. Real estate investing must be the only profession in the coun- try that has no accepted curricu- lum of formal training. Since your success as a real estate entrepreneur relies in no small part on your ability to get reliable information and advice when you need it, and since your local community college doesn't teach courses on important topics like how to evict a non-paying ten- ant, the only answer is for you to find a mentor who can teach you the ropes. Choose a mentor who is knowl- edgeable, motivating, accessi- ble, and is known for high ethical and business standards. Don't abuse your mentor by constantly asking for information that you could get from a simple trip to the library. And don't forget to thank your mentor by taking him to lunch, giving him gift certifi- cates to his favorite restaurant, and, of course, letting him in on good leads when you find them. Where do you find mentors? Try your local non-profit real estate investment or landlording associ- ation. It's full of people who are there to share. 3. Successful Investors Cull Their Herds. When I was a little kid, I read an article about chicken farmers. This article mentioned that when the new chicks hatched, the farmer killed the weak, under- sized, and deformed chicks be- fore they had a chance to grow up. I was, of course, horrified, and immediately began making plans to open an orphanage for runt chickens. Unfortunately, my home in the suburbs and my in- sensitive parents conspired to keep my project in the planning stages to this day. Most real estate investors look at selling their "dud" properties with the same horror with which I view the wholesale slaughter of slightly imperfect baby chicks. They will keep a property year after year despite the fact that it loses money, doesn't fit the own- er's goals, is a huge manage- ment hassle or is in a neighbor- hood that has become a warzone. Successful investors review their portfolios at least once a year, and aggressively get rid of their loser properties before they can damage the profits from their winners. 4. Successful Investors Pro- tect Their Assets. What's the use of building a huge real estate portfolio if a sin- gle lawsuit could wipe it all out? Why bother to achieve financial independence if the bulk of your estate will end up in the hands of the government? And why is it that the average real estate in- vestor does absolutely nothing to reduce their #1 yearly expense - taxes? Arranging your affairs to protect your assets from creditors, plain- tiffs, and the taxman is tedious, complicated, and time consum- ing. Yet every successful real estate investor takes the time to do it, thus assuring that their hard-earned money stay theirs. 5. Successful investors have a code of ethics. We tend to think of our invest- ment activities in terms of bricks and cash. In fact, the real estate business is about PEOPLE. Without sellers, renters, contrac- tors, agents, and so on, you would have no real estate busi- ness. And since your business activities affect so many other people, I think it's important to decide how you are going to treat the people you come into contact with each day. Since there is no formal code of ethics for real estate investors, it's up to each of us to decide how we'll behave toward cus- tomers, tenants, sellers, workers etc. Instead of using as a meas- ure, "what can I get away with?", or "what allows me to sleep at night?”, perhaps the proper question is, "what’s FAIR?". Take the time to think about your COVER STORY
  31. 31. 2014 RE investment News 31 COVER STOREY activities and how they affect peo- ple that you come into contact with. 6. Successful Investors Involve Their Families. In ten years, I have yet to meet a truly successful investor who did not have the support of his (or her) significant other. Because your real estate activities generally in- volve spending (or promising to pay back) tens of thousands of dol- lars at a time, and since your busi- ness will take time away from your family, I think it's very important to sit down with everyone who's old enough to feed themselves and explain what you're doing, and why, and that you'd really like to have their help or at least their un- derstanding. If you have a spouse who's reluctant to allow you to take out a second mortgage on your home in order to invest in the deal of a lifetime, try sending him or her to a beginner's seminar on invest- ment. Some of your significant oth- er’s very natural fears may be overcome by an understanding of what you're doing. 7. Successful Investors Treat Everyone Better than They Ex- pect to Be Treated. What goes around comes around. If you think that your reputation as a buyer or landlord doesn't pre- cede you, think again. When you go the extra mile to solve people's problems, both profit and success will follow. 8. Successful Investors Stay Ed- ucated. Since I began investing in real es- tate full time in 1989, my state has passed a mandatory seller disclo- sure law. The federal government has made lead-based paint disclo- sures mandatory and expensive to ignore. Congress has changed the rules for capital gains taxes twice. HIV-positive people have become a "protected class" in terms of fair housing. My city has passed ordi- nances that say that I can be fined or jailed for renting to drug dealers. Mortgage money for high-risk bor- rowers has become cheap and easy to get. The Fair Credit Re- porting Act has been revised to in- clude landlords. Things change. Your business is affected. Stay on top of it. 9. Successful Investors Pass On What They've Learned. Just as successful investors have mentors, successful investors be- come mentors. By passing on their knowledge to novices, they keep our industry alive, give others at chance a financial independence, and get a wonderful sense of their own accomplishments. Now that's what I call success. Reprinted from The Real Life Real Estate e-letter with permission of Vena Jones- Cox. Get a free subscription at www.TheRealEstateGoddess.com Listen to Vena and her guest speakers on her real estate radio show: Real Life Real Estate Investing, find in pod- casts on iTunes. Join Vena to learn Real Estate 101 in Her Express Success Training Program pre- sented here at MAREI. MAREInet.com/ES
  32. 32. 32 RE investment News 2014 How to Retail Houses, Sell Creatively and when to Rent Properties. How to Screen Sellers for Motivation and Negotiate the Best Deals. Understand Due Diligence, Disclosures, and What Happens at the Closing How to Protect Your Assets and the Ba- sics of Using Land Trusts Understanding Contracts and all Those Clauses and Addendums Time Management, Planning and the Im- portance of Systems The Real Estate Goddess’s Guide To Getting Your First Deal Learn Property Evaluation for Single Family & Multi Family Properties. How to Inspect Properties Efficiently & Estimate Repair Costs. Buying Creatively with Seller Financing and Alternative Financing. How to Find and Utilize Private Funding and When to Use Hard Money How to find desperate sellers with direct mail, bandit signs and internet marketing. How to Wholesale Houses EXPRESS SUCCESS 6 Months Wednesday Web Classes Featuring 20 Year Vetteran Real Estate Investor Vena Jones Cox
  33. 33. 2014 RE investment News 33 BONUSES for Paying in Full Saturday MAREI Workshops MAREI has 1 Saturday Workshop planned for every month except November & De- cember, that’s 10 Live Workshops Real Estate 101 Vena will mail out her Real Estate 101 Training Course: - a 200 Page Manual - 10 hours audio - CD Rom of Forms & Docs Vena’s Email Coaching Register Online MAREInet.com/ES Call 913-815-0111 12 Month Curriculum of Education, Support & Accountability to take your Business to the Next Level Two Payment Plans Pay in Full 1 MAREI Member $599 2 MAREI Member’s $799 Financing Options 1 MAREI Member $100 Up Front Then $55 a month for 11 months 2 MAREI Members $100 Plus $75 a month for 11 months Ever wonder why some of the folks at MAREI are do- ing really well and other’s just can’t quite get started?. After all, they have the same info and opportunity. We sat down with Vena to find out and we recorded it. Download and Listen now at www.MAREInet.com/ES.
  34. 34. 34 RE investment News 2014 If you think you can be successful in real estate investing without making mis- takes, you have a lot of surprises in store! And in fact, if you are afraid to make mistakes, you will probably never be successful in this business. It’s a crazy world out there, and you are going to make mistakes. It’s time to face up to it and get used to it. It’s a crazy reality, but you will probably learn more from your mistakes than anything else. Along with all the success I have had, I have made a lot of mistakes in my busi- ness. I list only a few of them here in hopes that I can help you avoid the same ones. But if you are hard-headed like me, you will read this list and think, “OK – yeah, that’s great. That’s really good stuff. But I wouldn’t do anything like that. I already know that. I’m cool. Whatever…” The most successful people in this business learn from their mistakes, and they are wise enough to learn from the mistakes of others. When they fail, they fail falling forward. So here are some mistakes I have made. I hope you will learn from them so you can avoid them yourselves!!! Mistake #1 – Slowing Down Your Marketing It’s tempting. You have been doing some marketing and you are getting some success. Now you are starting to get sellers to call you. Congratulations – your marketing is working! You might be getting real excited. All of the sudden, you are busy. You’re starting to wheel and deal. You’re a “deal- maker” now! You find a motivated seller and you get a house under contact. You start seeing dollar signs. You start advertising and marketing the house all over the internet. You take a ton of calls from tenant-buyers. You drive around all over town, meeting the tenant-buyers at the house. You stick Lease Purchase F i v e C o m m o n M i s t a k e s A n d H o w t o A v o i d T h e m Joe McCall “I believe there is no easier way than Wholesaling Lease Options to make quick chunks of cash in 2-4 weeks. It’s so easy to do, doesn’t re- quire any money, and involved very little risk. Join me at my Whole- saling Lease Options Full Day Seminar on March 22nd, being hosted by MAREI.” Success Strategies
  35. 35. 2014 RE investment News 35 COVER STORY
  36. 36. 36 RE investment News 2014 signs and flyers all over the neighborhood. Then final- ly, you sell the house! You breathe a big sigh of re- lief. The tenant-buyer is happy. The seller is hap- py. You are happy. You just made $5,000! Congratu- lations! And then you look around you and say to your- self, “Awesome! Let’s do another one!” But what just happened? You just wasted 3 weeks spending all your time & effort selling a home while your marketing for sellers has completely ground to a halt. Now what are you going to do for new leads? Well, okay, you start marketing again for sellers. But now it takes another 2 weeks to find anoth- er seller. And then it takes another 4 weeks to sell that property. All of the sudden, it’s been 6 weeks since your last paycheck and you’re starting to freak out! This mistake is real easy to avoid, and it should be ob- vious how to avoid it… Don’t stop your market- ing! Keep doing it consistently, systematically, reli- giously, etc! Mistake #2 – Trying To Sell Houses People Don’t Want to Buy. I get a lot of investors that call me and ask me to help them sell their investment property on a lease op- tion. They are usually extremely frustrated by a lack of results. I ask them what they have been doing to sell it and usually, they are doing all the right things. Then I find out where the house is located and discover imme- diately what their problem is. They bought a good house in the wrong neighborhood. The numbers work, but no one wants to live in the home – at least no one who wants to eventually buy it. And don’t you think that might be a problem? There is usually nothing I can do to help investors sell these types of homes. Here’s one of the most important keys you can ever learn in this biz – whether you learn it from me or you learn it after you buy the wrong property… You can only sell homes people want to buy! Stay away from ugly houses in bad neighborhoods! Only lease pur- chase nice homes in nice neighborhoods. What are buyers looking for in your area? I run most of my lease purchase business in St Louis, Missouri. Ob- viously, each market is different. But here is a list of what buyer’s are looking for in my area: 1. 3+ bedrooms & more than one bathroom 2. Homes in good school districts 3. Homes in the median price range ($120,000 – $175,000) 4. Homes that have a basement and a garage So it’s logical to see which homes I stay away from like the plague: 1. Anything less than 2 bedrooms & only 1 bathroom 2. Houses with no garage and/or no basement 3. Houses in bad school districts 4. Houses in rental neighborhoods If you follow these simple rules when marketing for Lease Purchase homes, you will save yourself a ton of headaches… and you will make more money! Mistake #3 – Not Treating Your Investing Business Like a BUSINESS Real estate investing should not be a hobby to you. You need to treat it and run it like a business. Do you have a business plan? What are your business goals? If you don’t have something in writing, create a business plan today! It doesn’t have to be an epic tome. What type of real estate investing business do you want to have? How many homes do you need to sell a month? How much marketing do you need to do every week to meet your goals? What cash flow do you need every month to break even? What type of sellers and tenant-buyers are you looking for? There is so much that could be said about this topic, that I don’t have the time to write it all our here. The main point is that you need to have a plan. You need to have something in writing that guides everything you do. What’s the saying – “If you don’t know where you’re going, I can guarantee you will get there.” Get a plan and work the plan! Also, one final important tid-bit – learn to manage your cash flow. Cash flow will make you or break you. You have to know what’s coming in and out every month. Mistake #4 – Being Too Hard For Your Sellers and Success Strategies 36 RE investment News 2013
  37. 37. 2014 RE investment News 37 Success Strategies Buyers to Reach. Does it really need to be said? Would you ever do business with someone who is impossible to reach? If you look at any successful investor in your area, I can almost promise you they do not use all those expensive & elaborate voice mail systems and websites that all the guru’s try to sell you on. Why? Those systems pre- screen everyone out. If you want to be successful in this business, you must be easy to talk to. When a seller calls, don’t make them jump through 100 hoops and answer 1,000 questions before you call them back. When a tenant-buyer calls, don’t make them listen to a 10 minute message that tries to answer every question they have about Lease Purchasing. Be accessible! On all my marketing and in all my voice mails, I have a way for people to reach me at my office. They can leave a message if they want, but they also all know that they can be re-directed to my office if they want to talk to a live person. Now I am not talking about answer- ing the phone at all hours of the day and night. I am just talking about basic, simple customer service. You wouldn’t believe how much business I used to throw away before I changed this part of my business and became easier to get a hold of. If you’re worried about spending too much time on the phone with “tire kickers”, your focusing on the wrong thing! You’re focusing on yourself and not your customers. Here’s the key – you’re going to waste more time playing phone tag than you would if you just answered the stu- pid phone and answer their 3 ques- tions! Usually, I am not on the phone more than 2 minutes with a tenant-buyer, and not more than 5- 10 minutes with a seller. But before they ask me all their questions, I ask them my questions first. I stay in control of the conversation. I only talk to motivated sellers and tenant- buyers. If they are not motivated, I thank them for their time, and I get off the phone as quickly as possible. Mistake #5 – Not Outsourcing Your Marketing. I have a virtual assistant that does ALL my marketing for sellers and tenant-buyers. Yes, you heard that right. Actually, I have 3 virtual assis- tants – but that’s a different story. I have already talked about how im- portant marketing is. But this is one of the easiest parts to outsource – yet I don’t understand why so few investors are actually doing it! You think it’s too expensive to hire a virtual assistant? Guess how much I pay my VA? $2.78 / hour. She lives in the Philippines, has excellent English, and is very happy with $2.78/hour. What do I have her do? Well, you need to subscribe to my course to find out! In my course, I will give you the exact instructions, check- lists, and videos I give to all my virtu- al assistants. It’s not rocket sci- ence. All you need to do is write down everything you do for market- ing, and have your VA do it. Here are two tools that I use all the time in my outsourcing: • www.oDesk.com – I like the VA’s from the Philippines • www.JingProject.com – a free tool where you can record videos and instructions for your VA’s Listen, you have more important things to do than researching the internet, stamping envelopes and addressing postcards. Hire some- one else to do all your marketing. It will be some of the best money you ever spend on your business. Summary This list of mistakes could easily be 2-3 times longer. These are just A FEW of the lessons I have learned along the way. You can learn more about the mistakes I made and how to avoid them by subscribing to our membership site and gaining access to all our great content. Happy investing! 2013 RE investment News 31 Saturday SeminarSaturday SeminarSaturday Seminar WholesalingWholesalingWholesaling Lease OptionsLease OptionsLease Options WithWithWith Joe McCallJoe McCallJoe McCall Saturday March 22ndSaturday March 22ndSaturday March 22nd Details atDetails atDetails at MAREInet.com/JMMAREInet.com/JMMAREInet.com/JM
  38. 38. 38 RE investment News 2014 Full Day Workshop Saturday March 22nd Joe McCall has been investing for over 7 years and he says there has probably never been a better time to invest than right now. In the last 24 months, he has seen his part-time business take off by using a simple strategy he calls “Wholesaling Lease Options”. Discover why "Wholesaling Lease Options" is one of the easiest, cheapest, fastest, and safest ways to make big chunks of cash in real estate today. You can get started right away with zero prior experience, no sales skills, and no big down payments (just $10)... because you are not “buying and selling” houses. Let’s look at some facts… 1) There are TONS of sellers out there who can’t sell their home. 2) There are TONS of buyers out there who can’t buy a home. 3) Creative Investors have the solutions these people need! Most Sellers can’t discount their home to 70 cents on the dollar to compete with all the dis- tressed houses in their neighborhood. And most Buyers can’t get a loan because the banks won’t lend them any money! It’s a vicious, downward spiral. So, Joe asked himself, why am I throwing away all these leads? Why can’t I do anything with them? Why can’t I plug “Lease Options” and “Wholesaling” together, and start making money with these two strategies at the same time? So that’s exactly what Joe did. Within 3 months, He started consistently making $10,000 - $15,000 every month, working part-time, spending very little money on marketing, and hardly throwing away any leads! Watch the MAREInet.com Blog over the next
  39. 39. 2014 RE investment News 39 “ I believe there is no easier way than Wholesaling Lease Op- tions to make quick chunks of cash in 2-4 weeks. It’s so easy to do, doesn’t require any money, and involves very little risk. Join me on February 22nd, when I am in Kansas City for a full day workshop with me and I will teach you how to do it! Joe McCall For Low Equity Deals & Very Little Capital! REGISTER BEFORE FEB 19th for EARLY BIRD PRICING □ Member Price $39 (early $25) □ Non-Member $49 □ Member Price for 2 $49 (early $35) □ Non-Member for 2 $69 □ $99 Add Membership for 1 Person □ $149 Add Membership for Two People _______________________________________ ____________________________________ Student Member #1 Email #1 ________________________________________ ____________________________________ Student Member #2 Email #2 ________________________________________ _____________________________________ Address City State Zip ______________________________________ ______________________________ Phone Credit Card # _____ / ____ __ _________________________________ Expire Date / Sec Code Signature Included in Express Success Program! Register Online MAREInet.com/JM Scan & Email to info@MAREInet.com / Fax to 201-574-2969 / Or Call 913-815-0111 Mail to MAREI : 8014 State Line, Suite 210, Leawood, KS 66208 More Information at MAREInet.com/JM t 30 days for quick tips and articles from Joe
  40. 40. 40 RE investment News 2014 Wholesale Real Estate Building Your Buyer’s List Kim Tucker “I want to get into this real estate investing. Where should I start?” This is a question that I often receive and while many factors should go into where you personally start like time and money, I quite often recommend getting your start in this business by learning how to wholesale properties. It does not take a bunch of money to wholesale a house and all the tasks needed in wholesaling should be learned in just about any other type of residen- tial real estate investing. Wholesale COVER
  41. 41. 2014 RE investment News 41 Wholesale So what are your plans for 2014? Are they written out and scheduled? Do you have an effective sup- port group and coach to keep you on task? FINANCIALLY FIT: PLANNING FOR REAL ESTATE SUCCESS IN 2O14 A brand new year with brand new possibilities! Kim Tucker, KCInvest THIS TIME, 2014 is the year I will reach my Goals. I have read time and again that in order to reach goals, you need to be able to visualize what it you want to ac- complish and have bench marks to be able to determine if you have met your goal. Next you need to outline the steps needed to reach those goals, breaking a big goal into smaller portions that need to be completed. You need to take the time to schedule all of these steps and probably most importantly, you need a support structure to help keep you on task. Let’s face it, life happens, stress and schedules get in the way and if you don’t have the support you need to keep you motivated and to offer assistants, you might lose sight of the prize. To give you an example that everyone can relate to we will turn to the most common New Years Resolution: Get- ting Fit / Losing Weight. We can all probably relate to getting fitter. We can all visualize what we want to look like and feel like when we do get fit. We can set down with a doctor, nutritionist and / or exercise coach to help us come up with a written plan of what we need to do. Eat the right things, limit the bad things we do to our body and have an exercise routine. We jump in week 1 in January and we work real hard and follow the plan to a “T”. Week 2, you are so busy on Tuesday that you grab some fast food not on the plan and you are so tired on Satur- day that you skip the exercise. Week 3, you screw up even more and by Week 4, you have given up. Sound familiar? What was missing in our exercise example? We left out the support structure, if we don’t have the support we need from our friends and family as well as from outside sources we might get discouraged when we deviate from our plan and eventually give up. Do you remember way back when to one of the times that Oprah lost a bunch of weight and looked so great? She did it several times, as did many famous people. How do they so dramatically change their lives? Well first they have the money to hire someone to help them. They decide I want to do “X”, then they hire a coach to help them define what “X” is and to create a plan to attain “X”, then they hire support staff and coaches to keep them on track until, they achieve “X”. We also know that Oprah, while she lost all the weight and looked so awesome, also gained it all back, why? Well, I don’t know the real reason, but I am going to bet that once she reached the 2013 RE investment News 41
  42. 42. 42 RE investment News 2014 Success Strategies goal, she didn’t need the chef and the exercise coach at her house daily to support her in her efforts and to keep her on track. The coaches stopped coming, the exer- cise and the diet slipped and back came all the weight. How can we apply these to our real estate goals for 2014? Well, keep reading and let’s see if I can trans- late . . . I have heard this several times from new investors this past month. “I have been thinking about getting into real estate and this year is the year.” I have also heard that “This is the year I take my real estate to the next level!” These are both great statements, but what is the goal? Do you want to be- come a Realtor or the guy who drives around and takes photos of houses or the gal who goes in and stages houses? All three are “Getting into Real Estate” but might not be exactly what you had in mind. So you need to define what you want to do and put in measurable bench- mark points. So for example if you want to build your rental portfolio you might say: “I want to buy 5 Rental Properties using Creative Financing Techniques in 2014 that Cash Flow $300 a month so that at the end of 2014 I have only $2,000 out of pocket on each house and a net cash flow of $1500 by December.” If your goal is to become a house flipper, you might state that “ I want to flip 6 houses with a minimum profit of $3,000 each to add $18,000 to my IRA by the end of December.” Next, take that goal and break it down, from the goal of what you want to achieve over the whole year and put it into monthly or quarterly goals. Then define the necessary steps you need to take to reach the smaller goals. After you have the steps de- fined, put in deadlines and get them on your calendar so you can make sure they happen and that life will not get in the way. You may need some help finding breaking down the goals and outlin- ing the steps that need to be taken to acquire the goals. One way to get the help is to purchase a training pro- gram or hire or partner with a mentor. Where can you find courses, coaches and others in the business to partner with? I would suggest getting in- volved and meeting people at your local Real Estate Investor Associa- tion. The local REIA will be filled with people who are doing exactly what you want to do as well as have rec- ommendations on training and coach- es. You might also find that you already have a course from past years gath- ering dust on your shelf. Or you might find a great resource in one of the many online sites for Real Estate Investors. If you purchase a training course and it is not step by step, then get busy and convert it into a step by step plan. Set deadlines for each item on your plan and schedule it out on your calendar. Then once you have the plan, you need to go out and do it. This is where things often slip through the cracks, its easy to plan out the tasks, but much harder to go out and get them done. As you look at each step, be it send- ing out marketing letters, posting craigslist ads, returning seller calls, posting property ads or whatever, make sure each step is scheduled on your calendar. And make sure it gets completed. If you just don’t have the time to complete the steps, then you might have to give up some other activity or hire someone to do some of the steps. So for example, if you know for a fact that you will not physically print out
  43. 43. 2014 RE investment News 43 that 100 letters each week and hand address the envelopes, stamp them and take them to the post office . . . I have a hard time with this. Then you need to go out and find a way to get it all done for you. (That is . . . if this is one of the steps on your plan) Get a system down that you know you will actually do, over and over and over. It may be that year one, you do a lot of the work until it be- comes a repeatable system that you could outsource to an employee, a virtual assistant or a partner in year number 2. Many of the trainers out there offer resources for outsourcing because they know most students are not going to be able to do every- thing themselves. Resources like call centers to take calls, website design- ers to create websites, mailing hous- es to help you create the mailing list, the letters and to get the mailings out. Many of the trainers also have Virtual Assistant Companies that do work for them who will also do the same tasks for you. Now we are really moving, we are dropping the weight and getting fit or conversely we are getting the market- ing out and making the phone ring, but what happens when we stumble. What if we are doing this real estate thing on the side and a HUGE project at our day job gets in the way and we let a few things slide. We don’t have things just falling into our laps. We get discouraged and we want to give up? Yes, it will happen. Most people that decide to try something new and set the New Year’s Resolution to do it, totally give up by April if not before. Sorry, that’s just the way it is. What do we need to do? Get a sup- port group and / or coach. Personally when I find things to be discouraging, when I have a week where nothing clicks, those are times I need to go to a real estate investor meeting of other investors and talk to them about what they are doing. Share my problem and work with them to brainstorm new ideas. Ask them for suggested resources. So where do I find these meetings? Well I own a Real Estate Investor As- sociation that has meetings once a month, so I make sure I never miss a meeting. But I also belong to several other groups of Real Estate Investors that meet weekly, monthly, by tele- phone and at big conventions. I also am a coaching student of a na- tional real estate investor trainer that has several telephone trainings each week, and online forum to ask ques- tions and big live training events sev- eral times a year. I find that partici- pating in all of these resources helps me stay on task, fix my broken tasks and be more successful. So what are your plans for 2014? Are they written out and scheduled? Do you have an effective support group and coach to keep you on task? If you do, then GREAT! If not, I highly recommend picking out at least one of your goals and finding a way to break it down, implement it and get it done, so this time next year you will not be staring at the same list of things to accomplish as you have right now. Register as a Buyer And we Promise NOT TO SEND YOU A SPECIAL REPORT Just Properties! Call the Tuckers 913-735-0018 We buy houses in the Kansas City Metro Area. Call us when you have a property to sell or a deal that you need help with, 816-200-2198 Success Strategies
  44. 44. 44 RE investment News 2014 Regulations Owner Financing D o d d F r a n k & t h e S a f e A c t William Bronchick LegalWiz.com Owner Financing, Dodd-Frank and the SAFE Act… If you are selling properties to owner occupants and doing sell- ing financing, you ought to be aware of some comprehensive new regulations that have been in effect for a few years, and a real zinger that goes into effect on January 10, 2014. A few years ago, the “SAFE Act” was passed on the federal level, then was implemented on a state-by-state ba- sis. The SAFE Act basically required that you be a mortgage loan originator, or use a mortgage loan originator to sell properties with owner financing. This means getting a loan application like a FNMA 1003, comply with Truth in Lending, and have the buyer sign the ½” thick pile of other lender disclosures. People panicked when the SAFE Act came out, and declared that seller financing was all but dead. I simply walked down the hall of my office building and asked a mortgage guy if he could “originate” my seller financing loans. He printed the stack of documents from his lender software and charged the buyer $400 as a loan origina- tion fee. No big deal, just a waste of good trees in my opinion. The SAFE Act was later amended in my state (and many others) to allow you to do three or so deals a year without having to do all this nonsense. The Act did not address using different entities every three deals, so, as a practical matter, the issue was put to bed for us in Colorado. In other states, however, there were NO exemptions, meaning unless you were selling your own principal residence, you had to be a mortgage loan originator, or use one in the transaction, even for one deal. Technically, you can’t even ADVERTISE the seller-financing feature – the mortgage loan originator has to do so. But, again, as a practical matter I don’t think the powers that be are searching through craigslist or looking for “owner will finance” signs on houses, and the likely scenario is a “cases and desist” letter from your state agency, giving you a chance to get licensed. No fines, no jail time. Enter two corrupt, knucklehead politicians named Dodd and Frank. They managed to pass the Dodd-Frank regula- tions that go into effect January 10, 2014. This one is a bit more complex and difficult to deal with, largely because it is confusing and has regulations that have yet to be clarified. We’ll start with who is exempt and who is not. If you are selling raw land, commercial property, or to a person who is not going to a live in the property, you have nothing to worry about. If you are a person or a trust, you can do one deal a year, so long as it’s not a “funky” loan, like a reverse amortization, etc . I know, you’re thinking, “I’ll use dif- ferent land trusts for each property”, but that may end up blowing up in your face if you get caught. Admittedly, Reprinted from William Bronchick’s website http://legalwiz.com/owner-financing-dodd -frank-safe-act/. Please visit his website for a video on the subject as well as a lengthy discussion over the past few months between Bill, readers of his blog and other experts in the industry.
  45. 45. 2014 RE investment News 45 Regulations however, nothing clearly in the Dodd- Frank regulations address this. We certainly are anticipating a “controlled group” definition to come out soon. One federal regulator com- mented that the rule was 25% com- mon ownership, but nothing in the regs back that up. If you are a corporate entity, then you can do up to three deals a year, if the deals meet the following three crite- ria: 1. There’s no balloon in the note (meaning it must be fully- amortizing) 2. The interest rate is fixed for at least five years, and 3. You “qualify” your buyer. Of course, these geniuses did not lay out what the qualifications are sup- posed to be, except for the debt-to- income ratio (43%) In my opin- ion, you’d be a fool if you sold a property and did not check the buy- er’s credit, verify their income (with tax returns and employment), and make sure their gross income is at least THREE times their total monthly debt payments, including the mort- gage. Personally, I’ve always done this and I don’t object to making this a rule, other than the fact that there are already too many regulations in this Country. On a practical note, if you are selling to a tenant or lease/option tenant, you can use their rental histo- ry as strong proof of their ability to repay. Again, it is not clear if you form a new LLC or corporation for every three deals you can get around all of this, but nobody wants to be the “test case”. Also, if you want to have a balloon after five years, simply pop the interest rate up so it hurts the buyer enough for him to want to re- finance and pay you off anyway (note: you can only increase the rate 2% a year for a maximum of 6% above the original rate). So, effectively you can do three deals in an entity, and one deal in a trust or your own name if you are strictly fol- lowing the law. A second entity owned by your IRA and a third owned by your spouse would add six more deals, in theory. If you buy and sell with owner financing more than 10 times a year, you will likely need to become a licensed mortgage loan originator or hire one on staff, which may not be a bad idea, just a bit of a hassle because the slew of other nit- picky regulations that come with it. Also, when you are beyond the 4 deal limit, you must not only prove ability to repay, you must DOCU- MENT it. Tax returns, W-2′s, bank statements – the works. Thus, if you have a self-employed person who looks broke on paper but has 30% cash to put down, you really can’t document his ability to repay (suggestion – lease/option for 2 years, then convert to a owner-carry sale). Are the Feds going to be chasing down real estate investors for this? No, the SAFE Act already co- vers that at the state level. What the Dodd-Frank Act does is provide a buyer who is being foreclosed or evicted with a counterclaim recouping all their interest paid, plus their down payment, attorney’s fees, and court costs. I always recommend that peo- ple settle out of court when a buyer defaults, using the “cash for keys” method. But on the off chance that they aren’t paying you and can still afford a lawyer, then you will be fac- ing a fight. One investor I met in Houston recently commented, “If that happens, I’ll just give them the prop- erty”. Since he was dealing in $60k homes, that would be a simple solu- tion. It’s really rare that you’d end up in court over this Dodd Frank issue anyway, but what keeps me up at night is the slimy “consumer protec- tion” lawyer who puts out an ad that says, “Have you bought a house with owner financing? Call 1-800-BAD- LOAN”. Yikes! Even so, if you do every deal in a separate LLC, then you are limited in exposure to the val- ue of the equity in the home. If you bought the property subject-to the existing loan with little or no equity, then all you really risk losing is the cash flow from the deal. So, to sum it up: You can do one deal per year as a natural person or trust, three deals per year in an entity without being licensed under Dodd-Frank. HOWEV- ER… if your state has no exemption under the SAFE Act, you still have to use a licensed mortgage loan origina- tor on EVERY deal. In theory, if you are married and you both have IRAs, then that’s 4 + 4 + 3 + 3 = 14 deals a year in various enti- ties. That’s a lot of leeway without having to get licensed. Remember, too, this is only a sum- mary of the Dodd-Frank and SAFE Acts. You should consult with a qual- ified attorney in your state before pro- ceeding. Remember there’s state law disclosures, RESPA, Truth-in- Lending, and servicing rules to worry about, too!!
  46. 46. 46 RE investment News 2014 Monthly Meetings There’s not a better investment in yourself that you could make! At our monthly meetings we host guest speakers, panels and roundtable discussions with industry experts providing insightful and current information for attendees. MAREI meetings are an essential tool for building a comprehensive team for real estate professionals. MAREI works to keep its members up-to-date with the latest infor- mation on the real estate industry. MAREI has built relationships with members and the community at large who provide our members with information they need to be successful in today’s world. We are the place to go for the information you need from the novice to the experienced Real Estate Investor. Monthly meetings are the best place to connect and build relationships with like-minded people and learn a thing or two along the way. MAREI MEMBERSHIP MEETINGS HELD AT: Main Monthly (1st Thursday of the Month) North Kansas City Community Center 1999 Iron Street North Kansas City, MO (816) 300-0433 MAREInet.com/Main Roving Meeting Secondary Meeting Day of the Month Varies Location Rotates Watch Email & Website MAREInet.com/Roving Jan 14: Main Meeting: Kelly Scanlon Thinking Bigger in 2014 Jan 18: Workshop: Dave Williams Be a Successful Rehabber Jan 29: Webinar: Vena Jones Cox Five Things Successful RE Investors Do Jan 22: Roving Meeting Olathe Market Update with Chris Lengquist Feb 4: Webinar: Joe McCall 5 Top Reasons for Lease Options in 2014 MAREIMid-AmericaAssociation ofRealEstateInvestors ARealEstateCommunity GUEST PASS Name: ______________________________ Date: _______________________________ Email: _______________________________ Source: ______________________________ For first time guest to visit meeting. GuestPassisavailableforfirst timeattendeestoMAREI.Ifyou haveattendedbefore,explore membershipoptionsorpay guestfee. Events More Education & Networking Opportunities MAREInet.com/Calendar Feb 11: Main Meeting Case Studies Feb 19: Roving Meeting Lees Summit FHA Changes Feb 22: Seminar: Joe McCall Wholesaling Lease Options Mar 11: Main Meeting: Cynthia Schmidt Collecting Back Rent Mar 15: PHP Credit Catch Up Saturday Mar 31: Roving North TBD
  47. 47. 2014 RE investment News 47 Investment News Page 5 LET US HELP KEEP PROPERTIES MARKETABLE Keep Costs Under Control & Meet Tight Deadlines Dedicated to your Success, With Solutions for Every Surface & All the Essentials EXCLUSIVE MEMBER DISCOUNT MAREI as a member of National REIA is able to bring our members the exclusive Sherwin William Discount Card that offers unbeatable savings on paint, applicators, floorcovering, paint sundries, wall covering, spray equipment, and even window treatments! Members look for your discount card in your members Benefit Pack- age or download from the Member’s Discount Section of the MA- REI Member Library. National Account Services Our strategic account teams can simplify processes and maximize efficiencies with centralized account management. LEED® & VOC Coatings Download the latest guide on our prod- ucts that meet LEED® and low VOC specs. Color Services Find out about our color design services for properties and read about the latest color trends. Flooring Products & Installa- tion Wide variety of name brands, 24-hour turnaround and reliable installation. Commercial Wallpaper Sherwin-Williams is your one-stop source for commercial wall covering. Over 5,000 residential and commercial wallpaper collections available. Commercial Floor Coverings From carpeting to sheet vinyl, select the right floorcovering specific to your needs. Fully stocked national network, fast turnaround and reliable service. HomeScapes® Enhance curb appeal and make selection easier with pre-selected exterior color schemes. Finishing Touch™ Builder Support Program Comprehensive Program for your Home Buyers: Welcome Kits, Discount Cards, and Model Home Programs. ASK SHERWIN WILLIAMS Find out more about all these products and ser- vices offered by Sherwin Williams plus their Chip It Online Color Matcher, ColorSnap Studio for iPad and their Paint Pro Alerts by Text at www.Sherwin-Williams.com . EXCLUSIVE MEMBER DISCOUNT Your Closest Floor Covering Store 14531 W 101st Ter , Lenexa, KS 66215-1144 FLOORCOVERING PRODUCTS:
  48. 48. 48 RE investment News 2014 Increase Your Profitability Join Mid-America Association of Real Estate Investors Members receive a complimentary e-subscription to RE Investment News. Become a Part of a Local, State and National Network that Supports YOUR Industry! MAREI MEMBERSHIP AUTOMATICALLY GIVES YOU NATIONAL REIA MEMBERSHIP MAREI is the local Chapter of National Real Estate Inves- tors Association (National REIA), a federation of local asso- ciations through out the United States representing 40,000 members across the U.S. LEGISLATIVE MONITORING & ADVOCACY MAREI monitors and promotes the enactment and enforce- ment of local, state and federal laws and regulations benefi- cial to the real estate industry. Support and create local and national advocacy initiatives and grass roots mobilization. EDUCATIONAL SEMINAR AND COURSES MAREI offers all National REIA Programs locally.  Professional Housing Provider Designation  National REIA University MAREI also offers local training events  2 Monthly Meetings a Month  Weekend Workshops and Full Day Seminars  Partnering with National Education Events locally and across the country. MAREI WEBSITE MAREI maintains a website that includes our event calendar, service provider list, government affairs updates, articles of interest and member properties for sale. All members are able to interact through our website with member forums. MAREI SOCIAL MEDIA MAREI maintains active social media spaces on Facebook, LinkedIn and Google+ for the benefit of members to interact with each other and the public at large. Build your circle of influence by interacting on our social media pages. NETWORKING & BUSINESS BUILDING MAREI holds a variety of events that enable members to interact with other industry professionals, develop contact and gain knowledge that helps them grow their business. MAREI’s calendar also includes a variety of events held by members and outside groups that are open to the general public. NATIONAL REIA BENEFITS INCLUDE  National Cruise: Network and learn about new tech- niques on the National REIA annual cruise.  Industry Resources: Brining member benefits to the na- tional buying power of our local associations. “I went to the MAREI meeting and was very im- pressed with the quality of people I met, as well as the content that was presented. Thank you for putting that on, and I look forward to next month’s meeting!” Joe McDonald, Real Estate Investor “The main reason for joining was to meet with other Real Estate Investors in the Kansas City area. Not only have we done that but we have also received access to services from other MA- REI members, among them rehab insurance and a general contractor.” Tami and Kerry Hardinger, RE Investors “I can’t afford to let my membership expire! It pays for itself. I think you have really done a good thing creating MAREI. It is a very important tool.” Scott Shore, Real Estate Investor Contractor www.MAREInet.com www.NationalREIA.com

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