The Real Estate Investment News is the quarterly magazine of Mid-America Association of Real Estate Investors, based in Kansas City and serving investors nationwide. Find us online at MAREInet.com or MAREI.org or call 913-815-0111.
the Real Estate Investment News: 2014 Second Quarter
2014 RE investment News
Are You Going to Make It?
Bad Stuff in our Houses
2 RE investment News 2014
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2014 RE investment News 3
MAREIMid-America Association of Real Estate Investors
A Real Estate Community
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4 RE investment News 2014
From the Publisher
What’s going on in your market?
If you look at the sales numbers for February on
page 6 you will see that we are in a Seller’s
Market. Meaning we have less houses that we
have buyers here in Kansas City and this can
be because of several factors.
First, at least here in Kansas City in the lower
priced older neighborhoods we have had a
bunch of hedge fund buyers come in and buy up
anything of quality. They are buying our houses
at the courthouse steps, through MLS and from
our area wholesalers, they have even bought
several properties from me.
So if you are a wholesaler, these nicer cash flow
rental properties are a great opportunity if you
can procure these houses.
Next, as a recent news article I read pointed
out, many of the higher priced houses, what I
call a move up house, the sellers don’t want to
sell. The article explains how many of these
home owners refinanced to a much lower inter-
est rates and now as these rates are going up,
the homeowners don’t want to sell and buy a
new house at a higher interest rate. For our re-
habbers, this is an opportunity because there is
far fewer of these homes available. If you can find
them and fix them up, they should sell quite easily.
Then with all the new rules for Qualified Mortgag-
es and the Safe Act and Dodd Frank, there are
going to be more rules restricting home loans.
With home loans being harder to come by, the real
estate investor that can find a way to offer seller
financing or lease options will be able to help all
those good people that just can’t qualify for a
And because it’s going to be so much harder to
get a loan or because of the huge costs added to
FHA loans, many of those first time home buyers,
who really want to buy a house, but can’t because
they either don’t quite have the income yet or be-
cause of a financial set back in the past few years,
the landlord also has a huge opportunity.
So I am fairly sure that no matter what your niche,
the market is just right for the real estate investor.
And I am also fairly certain that we will all still need
to have a place to live.
So if you have already found your niche, great,
keep doing what you do. If you are still trying to
find your niche get busy and dig into all the train-
ing and networking at MAREI.
Kim A. Tucker
Publisher & Founder of MAREI
4 RE investment News 2014
2014 RE investment News 5
Looking for cash-flowing
or fix and flip
for your Self Directed IRA?
The KCInvest Team
offers one of the top
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Visit our Website
view our Current Properties
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Your Buying Criteria.
6 RE investment News 2014
From the Publisher
Investors Keep Market Going
Bad Stuff In Our Houses
Funding Your Investment Purchase
Don’t Destroy Your IRA
Back Rent Collection Q & A
Rehab Bus Tour & Workshop
Collecting Back Rent
Elite Tax Sale Training
Meeting Guest Pass
RE INVESTMENT NEWS
IN ASSOCIATION WITH
OF REAL ESTATE INVESTORS
8014 State Line, Ste 210
Prairie Village, KS 66208
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
disclaims all liability for the action
or inaction taken or not as a result
of communications from or to its
members, officers, directors, em-
ployees and contractors. Each
individual should consult his/her
own counsel, accountant and other
advisors as to legal, tax, economic,
investment and related matters
concerning real estate and other
The views and opinions expressed
by authors of articles contributed to
this newsletter do not necessarily
reflect those of the association, the
board of directors or the staff.
Oh * %# &* * !
Five Things that Go
With Rehabbing Homes
Why its Important
And How to Achieve It
Are You Going To
Be Honest with Yourself
2014 RE investment News 7
8 RE investment News 2014
Sales Prices Up, Sales Up, Inventory Down
The average resale home price in Feb-
ruary was $151,435 across the KC
Metro. For new homes it was
The number of resale homes sold in
February is up 2 percent over last year.
And the inventory is down 7 percent
from last year. In February our months
supply is down to 4.4 months vs 5.1
this time last year, giving us a seller’s
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.
2014 RE investment News 9
SPEAK UP & TAKE ACTION
2014 . . . Are You Ready?
MAREI and all our members are all a part of the National Re-
al Estate Investor’s Association. A group of organizations and
real estate professionals working to keep the small business-
es across America out there and providing quality housing for
Americas home buyers and renters.
Now more than ever, it is critical for Real Estate Investors
across America to come together and to speak with one voice
about all the benefits that Americans in all communities re-
ceive because the Real Estate Investor is working to provide
From city hall to the state house to the U.S. Capitol, our elect-
ed officials are making decisions that have a huge impact on
the bottom line of Real Estate Investors and their customers.
Through the support of Real Estate Professionals like you,
MAREI and National REIA work to represent your interests.
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10 RE investment News 2014
If you’re not “in the industry”, not a lead-safe worker, and not properly trained, you are risking your
health and the health of those within arms reach of your home renovation. Sure, you could throw on a
respirator ad zip-up in a protective suit, in an attempt to decontaminate your home, but do you really
know what you’re doing?
It may seem easier that it actually is and many property owners and “handy man” type businesses do
attempt to make repairs with out d when repairs are not done safely and correctly, people are not only
risking their own health, but also the health of their own children, pets or anyone else that they might
come in contact with on a regular basis . . . . Not to mention the health of the people living in the home.
When dealing with a home built before 1978, the most likely hazard found is lead paint. Lead Dust is
the leading cause of lead poisoning in children and can lead to hyperactivity, lower IQs, attention deficit
disorder, other health issues, coma and even death. Most children come into contact with lead dust be-
cause of a dusty or dirty home or daycare from the renovations happening in the home they live in or
because their parent brings the dust home on their clothing. Because this is such an enormous con-
cern because it takes only a very small amount of lead dust to poison a child and forever change their
Because of all of these lead issues we banned lead in residential paint in 1978, we phased out lead in
gas in 1986, and in 2008 the EPA started the Renovation, Repair and Painting Rule to protect the pub-
lic from lead-based paint hazards associated with the renovation, repair and painting activities. The
rule requires workers to be certified and train in the use of lead-safe work practices, and requires reno-
vation, repair, and painting firms to be EPA certified. These requirements became fully effective April
So what happens now in 2014? Well the EPA can randomly inspect your job sites to see if you are fol-
lowing all the guidelines. Failure to comply could result in fines of up to the statutory maximum of
$37,500 per violation per day.
“There are many contractors out there who are extremely reputable but don’t understand lead-based
products and issues. They’ve never been taught to approach lead in a safe way, so when they disturb
and expose residents to lead during a renovation, they don’t understand the consequences of the dust
that’s created.” . . . Kyle Gunion, Titan Environmental
2014 RE investment News 11
1. Failure to establish and maintain records is the
number one violation. You must keep all records
for all work you have performed, records for all cer-
tified workers and proof that they were certified
during the job, proof they were the ones on the job,
proof of compliance, and post-renovation cleaning
verifications. Be sure to take photos, get signa-
tures, and document everything.
2. Failure to comply with work practice standards.
This is very specific information that covers a wide-
range of work practices, including, but not limited
Use of machines designed to remove paint
or other surface coatings through high
speed operation without a HEPA vacuum
Failure to contain waste from renovation ac-
Failure to contain work area, including win-
dows and doors.
Failure to contain lead dust.
3. Failure to comply with training requirements.
You must obtain a training course completion cer-
4. Failure to provide the lead hazard information
pamphlet, Renovate Right, to the property own-
er. Document this! Obtain signature, take a photo
of you delivering it, email a copy and retain docu-
mentation for 3 years.
5. Failure to obtain firm certification when re-
6. Failure to ensure trained individuals performed
7. Failure to post signs clearly defining the work
area and warning occupants not to enter prior
to beginning work.
As a Real Estate Investor if we are doing the work
ourselves, these rules apply to our own work. If you
are hiring contractors to do the work for you, it’s their
responsibility to make sure they comply with the RRP
Rule. All Investors who renovate homes built before
1978 should at minimum take an RRP training class
so you know what the rules are.
You can learn more about Lead and rules and regula-
tions pertaining to lead in the home at
Be sure to join us at MAREI for the April 8th Main
Meeting featuring Kyle Gunion with Titan Environ-
mental discussing Bad Things in our houses including
Lead, Asbestos, Mold and Meth, and what we should
12 RE investment News 2014
There are many ways to fund an investment purchase. A buyer might use cash, conventional financ-
ing, IRA funds, or an array of other ways to make the investment purchase. One common approach
investors often use to fund their investment purchases, especially when rehab is involved, is with a
hard money lender. A hard money lender can be a viable source of funding for your next investment
What is a hard money lender? A hard money lender is a company or individual making a non-
traditional loan to a real estate investor. This type of loan is made to a real estate investor on an in-
vestment property using a loan to value ratio. A hard money loan typically has fewer borrower qualifi-
cations and usually takes less time to complete than a traditional loan. A hard money loan often in-
cludes rehab financing to complete work to the subject property. While a hard money loan does put
more emphasis on the subject property and loan to value ratio, the borrower will still have to qualify
for the loan.
What is “loan to value ratio”? A loan to value ratio, often abbreviated “LTV”, is the calculation most
hard money lenders use in determining the total amount of a loan for a subject property. Most hard
money lenders use a 60%-70% LTV depending upon their certain loan program. For example, if a
borrower wants to buy, rehab, and flip a property in a neighborhood where most properties are selling
at an average of $100,000, and the hard money lender is using a 65% LTV, the borrower would ex-
pect to receive a total loan of $65,000 (65% of the value of the property, or 65% LTV).
Why should I consider using a hard money lender? One of the main reasons is because a hard
money lender will provide a loan a traditional bank may not provide. Many traditional banking and
lending sources won’t provide rehab loans to investors. If an investor is buying a property that needs
work chances are a hard money lender will be one of the only lending sources able to provide a rehab
2014 RE investment News 13
Am I working with a hard money lender or a loan
broker? Googling “hard money lender” you’ll literally
receive millions of results in only a fraction of a sec-
ond. While some of these results may be legitimate,
many will not. In addition, you want to know if the
company or individual you are working with is an ac-
tual lender (making the loan) or a loan broker (finding
a lender to make the loan). There is usually nothing
wrong in working with a loan broker so as long as you
are aware of the role the loan broker is performing.
Furthermore, you want to make sure you have some
parameters set with the loan broker so your personal
information isn’t sent all over the internet world, often-
times referred to as “shot gunning the loan”.
Is a hard money loan expensive? The definition of
expensive depends on who you ask; it’s subjective to
each individual. While one person may say a hard
money loan is too expensive and they wouldn’t con-
sider it, another might say it’s the cost of doing busi-
ness. An investor may also have the opinion it would
be better to use a hard money lender to do the in-
vestment in order to potentially make some money
versus the alternative of not using a hard money
lender and therefore not being able to do the invest-
ment at all.
Why do the numbers matter? An investor should
understand the numbers always matter in any invest-
ment! If the numbers don’t make sense it’s not a
good investment, right? As mentioned above, a hard
money loan is usually calculated using a LTV ap-
proach. Because of this approach it’s important for
the investor to understand the numbers of the deal
and the parameters of the hard money loan well be-
fore signing on the purchase contract or at the clos-
ing. The numbers to consider include the purchase
price, rehab scope of work, lender costs, and closing
costs. While it may sound simple enough, a mis-
calculation of one or more of these may significantly
change the amount of money a borrower may have
to bring to closing, or may jeopardize the loan alto-
What do I need to consider when looking at a
hard money lender? A few questions to ask and
Are there any upfront or non-refundable fees?
What are the loan costs?
What are the loan terms?
What is the LTV or max loan amount available?
Is there a pre-payment penalty? (This is especial-
ly important if you are flipping the property)
Are there monthly payments?
These are just a few of the initial questions you want
to ask and review with the lender. Depending upon
the lender’s criteria, the hard money loan may or
may not make sense for your specific investment
JJ Pawlowski is a Kansas City
area Real Estate Investor, Bro-
ker, Property Manger and Hard
Money Lender. He is joining us
at the May MAREI meeting to
discuss the top mistakes that
investor make when working
with Hard Money Lenders.
14 RE investment News 2014
Don’t Destroy Your IRA
You have gone to a few workshop and learned
about Self Directed IRAs that can invest in all kinds
of Real Estate Transactions from options to flips,
rehabs to rentals. You take the steps to set up
your Self Directed IRA, you fund it and you start
self directing your IRA to the same types of real
estate transactions you have been doing in your
own name or in your company name.
But you need to be very careful to avoid prohibited
transactions which using involve doing something
that involves an asset your IRA owns or a transac-
tion your IRA completed and a disqualified person.
A disqualified person is you or any family member
up the family tree like parents and grandparents or
down the tree like your children and grandchildren
or who are closely associated with you like best
friends or people you may work with on a regular
So a disqualified transaction would involved trans-
actions between your IRA and a disqualified per-
son. For example your IRA buying a house from
or selling one to a disqualified person. Or renting,
or optioning or flipping.
Likewise, a disqualified person cannot receive fi-
nancial gain from an asset owned by an IRA. So
you can’t receive a commission for selling a house
for the IRA or your property management company
cannot receive a fee for managing properties for
This all seems fairly straight forward. Right?
But what if your IRA buys a house to rehab and
flip? You hire a third party company to do all the
renovations and the company wants paid on a
timely basis. It takes a few days to get money from
the IRA so you figure you will pay the contractor
yourself and then have the IRA pay you back . . .
Wrong answer! You IRA needs to pay the contrac-
Or what if you own a rental property and it needs
the yard mowed on a weekly basis. You are going
to do so for free, the IRA is not going to pay you.
However, while this may have been overlooked in
the past, it is an act of your IRA receiving services
from a disqualified person . . . YOU!. And in this
day and age with the government looking for all
kinds of ways to get more money, finding you in
violation of the rules against your IRA could be a
good excuse for the IRS to cash in.
So what happens if you get caught in a prohibited
transaction? First the IRA will cease to exist as of
the first day of the year when the prohibited trans-
action was committed, creating past due taxes with
penalties and interest. It is even possible that a
prohibited transaction that happened many years
ago could if found out now, triggering penalties and
taxes could possibly wipe out your entire IRA.
We will be talking more about Self Directed IRA’s
at the monthly Member Networking meetings this
quarter. See list of events on page 34.
2014 RE investment News 15
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16 RE investment News 2014
Everybody I talk to wants to do a Rehab, because they are so simple. After all we have all lived in a
house for years, and we know houses. Nothing could be further from the truth. Because I listen to my
radio and know how to operate it, does not mean I can take it apart and put a new one together.
There are many places that things can go wrong when Rehabbing the House from picking the wrong
color paint or ordering the wrong size fridge. The main problem that problem people run into is under
estimating the research and thought process that goes into a full rehab. You need to knowing how
and where to look for a house to rehab. The money or finances needs to be worked out. How do you
set a budget for the total project that includes purchase price and rehab cost, and a little extra. When
starting a rehab you need to think the entire process through to selling the house for a profit before you
ever start looking for a house.
The process includes:
Knowing where and how to find a house.
Having all the finances and money lined up before you start looking.
Proper analysis of the rehab that is needed.
Working with contractors to get the work done in a timely manner.
Marketing and selling the house.
The process starts with finding a house that needs work. You need a budget to know what price range
you will be looking for. Also who will be your buyer? You can sell to an Investor who will keep as a
rental, or a first time homeowner, or an experienced homeowner. The investor buyer will be the lower
Oh * % # &* * !
F i v e T h i n g s t h a t G o W r o n g
w i t h R e h a b b i n g H o m e s
“ The main problem that problem people run into is under estimating the
research and thought process that goes into a full rehab. “
2014 RE investment News 17
price point, and will increase as you market to the
different types of Homeowner.
Let me break this down int numbers. When visual-
izing your end buyer, think about the investor buyer
who will pay anywhere between $ 50,000.00 to
$85,000.00. The first time Home Buyer is looking to
spend about $85,000.00 to $125,000.00. The ex-
perienced homeowner spends from $150,000.00
range goes up from there. The Luxury home buyer
will probably be looking at houses from $400,000
and up. We don’t recommend starting at this top
18 RE investment News 2014
Find the neighborhood that fits your budget and is
good for re-sale. I never buy in a neighborhood if
there are no sales in the past 1 year. You can find
houses on the MLS by using an agent to look for
them. You could run a mail campaign to look for mo-
tivated seller. Or rely or word of mouth and network-
ing with people in the business.
I recommend staying in a general area, the more you
work it the more you gain knowledge of the houses
you might want to work. Pay attention of what the
houses sell for and what they are listed for. Some-
times the selling price is much lower than the listing
price. Always consider the selling price when you
are analyzing the house you want to buy. I take an
average sell price of all the sold houses, and drop
the price a couple of thousands to help price my
You must be able to analyze the house and put to-
gether a cost estimate for repairs. This would be a
good time to get a contractor involved and have him
give you an estimate of what you want done. Pre-
pare a Scope of Work for him to bid off of and walk
the house together and get his advice and cost sav-
ing ideas. Remember the 4 numbers you must have
is: the Purchase Price you are paying for the house.
The rehab cost. The ARV (After Repair Value) or
price your end buyer is going to pay. The most im-
portant number is the profit number you are planning
I use a purchase analysis chart (Microsoft Excel)
that will equal the price I need to pay for the house.
After putting in the ARV, Rehab cost, the selling
price, and the profit I want to make, the equation
leaves the purchase price. In my chart I also input,
closing cost I pay when I purchase and sell, 3
months of taxes, insurance, and utilities, seller paid
closing costs for the buyer when I sell. If all the num-
bers fall into place, it is time to make offers. Know-
ing what you can pay takes a lot of headache, and
questions off your plate.
To establish a rehab cost can be tricky in itself. The
Contractor may want to do extra work that can create
a bigger pay day for them. Have a budget in mind,
and work within the numbers. Sometimes you may
have to add and subtract different items to be
worked on. I suggest, having a budget and add the
Must Haves first. If you know it needs a roof, or a
furnace, or a new Kitchen, and then add that first to
the estimate and work backwards. Believe me there
is always too much you can do to a house. You de-
cide where to put your money to get the most return
for your buck. The more items that are needed to
get the house up to a retail value, the lower the price
you need to pay. My best rehabs have been when I
installed a new roof, furnace and A/C unit, new Kitch-
en, and new electrical service upgrade. Being able
to market that all the items listed are brand new will
attract many more buyers.
After your contractor has given you a solid bid, also
talk about how much time they will take to complete
the rehab. This has been the biggest problem that I
hear about the contractors. Ask how many people
will be working on the job, and if they will be there
every day. Get all this in the contract. DO NOT pay
the contractor more that 10% to start. Some will
want 50%, don’t do it. The way I calculate the pay-
ments are I know it will take 5 weeks to complete,
which is reasonable. First I subtract 10% for the final
payment, and 10% for the first payment. I then take
the remaining cost and divide by 5 weeks. The con-
tractor will know how much is will be paid each week.
Some people I know, do not pay anything until the
contractor has worked a full week. You have to be
the judge on how to start to pay your Contractor. But
the most important payment is the last. Never pay
the contractor before they are done and you have
conducted a walk through with them. You will most
likely have a punch list for them to complete. After
the punch list is complete, and you are happy with
the results, then you should pay him the remaining
money owed. Don’t be taken back by ”if you pay me
2014 RE investment News 19
now I will get these things done
this week”. Hold your ground on
this, you won’t regret it. It’s all in
the name of good business practic-
Treat this like a business, because
it is a business. Another thing is if
you have business policies, then
you never have to make another
decision. My policy is we pay on
Friday morning and I go over this
fact during the contract process.
So they know a head of time, what
to expect. When they ask for mon-
ey on Tuesday, then my answer is
all ready decided.
Get an expert to Market the house
when you are ready to sell. Make
sure you are completely finished
with the rehab before you put it on
the market. I take about 60 to 80
photos, and have flyers made up.
When the sign goes in the yard I
have flyers in the flyer box at-
tached to the sign. I also have a
book inside the house with all the
details of the house, including the
disclosure form, school info, a de-
tail list of all the rehab items that
was completed. I offer a Home
Warranty to the buyer, and have it
paid for and active.
The agent puts it on MLS, and vari-
ous other web sites to attract buy-
ers. Some buyers will drive by and
call off the sign, be prepared to dis-
cuss your house and know what
questions to ask them. Some peo-
ple will want to get it under con-
tract, only to cancel when they do
inspections. Be careful and find
out how strong the buyer is, and if
they are an investor or a home-
owner. Most agents will only show
clients who are pre-qualified to buy
at a certain amount.
I know some investors that will
stage the house with furniture and
pictures. There are companies
that specialize in staging houses.
The house should be clean and
bright, and smell like a new house.
When you have an offer and enter
into negotiations, be prepared with
you chart and know what your prof-
it will be if you decide to accept a
lesser offer. Sometimes a bird in
the hand is worth 2 in the bush.
When I get an offer, I can almost
always close the deal with some
We have rehabbed a bunch of
houses, too many to count. We
have renovated homes for land-
lords and we have renovated high-
er priced homes. We have studies
our process that allows us to reno-
vate a house in about 5 weeks and
sell it fast. We have taken that in-
formation to create my 4-5 Week
Rehab Workshop that I will be of-
fering in April. We are combining
this workshop this year with a
Hands On Bus Tour to view sever-
al houses around the Kansas City
area. I would love to have you join
me to learn more.
20 RE investment News 2014
REHAB BUS TOUR
Get on the Bus!
Are you interested in rehabbing? How about wholesaling? Well, to do
either you need a strong sense of how to evaluate properties for re-
hab, and there's no better way to learn about it than DOING IT.
Here's the opportunity to do just that!
Yes, it's time again for the extremely popular Rehab Workshop with
Don Tucker and this time with a new twist. This year we are adding a
Bus Trip on Day so we can learn How To Evaluate Properties For Re-
hab. There will be a full day BUS TOUR in life houses followed by a
full day Rehab Training Workshop.
You Should Attend If You Are...
Interested in getting started in rehabbing
Interested in getting started in wholesaling
Interested in learning more evaluation techniques
Interested in driving around on a bus looking at houses
No matter where you are in your rehabbing business, you
can always benefit from hearing about other ways to en-
hance your techniques.
The Bus Tour
Saturday 8:30 to 4:00
Get On The Bus
Visit Four Houses
Analyzing Potential Rehabs
With Breaks for Drinks, Food & Re-
strooms on Throughout the Day
After the Bus Happy Hour
Saturday 9:00 to 4:00
Breaking Down Deals
Calculating the Percentage s
Negotiating your MAO
Finding & Managing Contractors
Creating a Scope of Work
Managing the Job & the Money
Contractor Paperwork & RRP
Retail vs Rental Properties
Selling Houses Fast
2014 RE investment News 21
PLEASE NOTE: Regular Price to attend is $169 for Members and $249 for Non-Members. To re-
ceive early bird pricing you need to register online, at the April Meeting or via phone before April
16th at 5pm. Members who are participating in our Express Success Program can attend this the
Sunday Portion of this Seminar for No Charge, just call or email the office to reserve your space.
Rehab Bus Tour & Workshop
Career Education Systems, Ward Parkway Shopping Center
8600 Ward Pkwy, Kansas City, MO
Go To MAREInet.com/Rehab
Discover Heating & Air (DiscoverHVAC.net)
Assessing HVAC Systems.
Cornerstone Foundation (see on Facebook)
Assessing the Foundations
Early Bird Pricing Thru April 16th
Members $149 Add Spouse or Partner $50
Follow Don through a full Rehab
Project in Prairie Village, through
photos, videos and a blog. Send
Don an Email Requesting a link to
Don’s Evaluation Charts
22 RE investment News 2014
Can my ex-tenant go to jail for not paying the rent?
We are asked that question often. The answer is no... But, if you have heard us speak or have attend-
ed one of our Webinars or Seminars, we mention that several of our former tenants have been arrest-
ed! This happens in "post-judgment proceedings."
We get the signed order from the judge stating how much money we are owed, but it is totally up to us
to get the real money to satisfy the judgment. In an attempt to get the defendant to show up to the post
judgment proceedings, the judge is able to hold the defendant in Contempt of Court for failure to ap-
pear to the Rule or failure to abide by a court order, which results in a Bench Warrant/Body Attach-
A Bond is then set in which the plaintiff (landlord) can motion for turn-over. So, the defendant (tenant)
is arrested for failure to appear not for the money judgment.
Since we are the plaintiff's, it is up to us to initiate the whole process. It offers relief and some satisfac-
tion that our voice for justice is now being heard and taken very seriously!
We got a large dose of satisfaction recently when a former tenant of ours entered a Motion to Vacate
judgment in the Eviction (Forcible Detainer) court and the 30 days had lapsed for vacating. During this
time, we had already proceeded to post judgment and a Bench Warrant for her had already been is-
We attended the Motion in the Eviction court and were called to the podium where the judge reviewed
the court files and stated, "I see no reason to vacate the judgment and it is past 30 days."
B a c k R e n t C o l l e c t i o n Q & A
“I want my MONEY!”
2014 RE investment News 23
He was just about to close the files when I men-
tioned to him, "Judge, there has been a Bench War-
rant issued for her".
He showed her the Warrant and motioned to the bail-
iff to escort the defendant to jail. She posted the
bond and it was granted to us at the bond hearing.
One of our most irritating, disagreeable tenants, got
a taste of the landlord's power that day.
Finally, we have the ability state our case rationally
and orderly in a calm courtroom atmosphere and to
be heard and understood. Knowing all you can about
the court system enables the "power."
What is the tenant vacates the rental property
owing back rent and / or damages above the se-
curity deposit and or an unpaid utility bill?
The majority of real estate investors across the coun-
try 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 for a non-paying
tenants. 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 in 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 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 before 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 responsibili-
ties 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 pa-
per it is written on—I challenge that statement!
COLLECTING BACK RENT WEB TRAINING
Tune in on your computers at Noon Central Time
May 1st Event No Charge, Fee for Follow Up Workshops
Go To MAREInet.com/Rehab
Cynthia and Gary Schmidt: Landlords for
over 20 years, 90 satisfied judgments, col-
lected over $200,000 in back rent.
Collect Back Rent, LLC, is a nationally, re-
nown company that offers self-paced study
courses to teach landlords the steps to collect
the back rent due. In addition
to study courses, Collect
Back Rent also offers live
workshops to help solidify the
teachings in the study cours-
24 RE investment News 2014
Don’t Toss another Seller Lead
for Lack of Buyers!
Let Us Review Your Lead . . .
Assign to us or partner with us.
Houses & Notes
2014 RE investment News 25
of Real Estate Investors
Have a Product or Service
To Promote to Real Estate Professionals
Who Live or Invest in Kansas City
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
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
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.
Residential & Single Family
Commercial & Multi Family
Institutional & Bank Owned
Farm & Development Land
Toll Free: 877-781-1134
26 RE investment News 2014
Why its Important
Vena Jones Cox
Let me begin by saying that, personally, I like to believe that I am more than capable of defining, plan-
ning, and reaching my goals all by myself. I’m pretty smart, pretty knowledgeable, and pretty driven, and
I don’t like other people telling me what to do. If I wanted someone standing over me, watching and
judging my performance, I’d have a job instead of a business.
Let me now go on to say that I find that I am far more focused and effective at reaching my big goals
when I have people who hold me accountable to them.
Yeah, it’s a contradiction.
But I think that for almost everyone, there are 2 sets of priorities in life: the things you HAVE to do (go to
work, clean the house, pet the dog, pet the husband, etc) and the things you don’t have to do, but which
bring much greater long-term rewards (flip enough deals to quit the job, buy a house, train the dog, train
The first set of goals is relatively easy to accomplish, if only because day-today life doesn’t proceed very
well without them. The second set is more difficult, because, in all honesty, your life won’t change much
if you don’t flip a house this week. That particular lack of change should, of course, be viewed as a BAD
thing, but if everything else is going OK (you haven’t lost your job or been faced with a giant medical bill
or something), it’s not a bad enough thing to spur you into action next week.
In an already-full life (which I think most of us would agree that we have), it’s often difficult to find the
time to do something that will eventually lead us to a better life; it’s so much easier to tick off the “must
dos” and put off the “wanna dos” until tomorrow.
The Must Dos in Your Life vs. the Wanna Dos
For example, the “must dos” in my business life include making sure a certain number of offers go out
every single week: just as some of you MUST go to work every day to pay the bills, I MUST buy houses
every week to keep food on the table.
“Wanna dos”, as I use the term here, are not those fantasies that you’d do in a perfect world if time or
money were no object (not that I don’t have a long list of THESE, too). Wanna dos are things that would
have a large positive impact on your life of your business, but have very little immediate negative impact
if you don’t do them.
2014 RE investment News 27
An example of this kind of
“wanna do” in my own business
is to test adwords for my house-
buying website. If I do it, I will
probably get 5-10 more qualified
leads each week. If I don’t, noth-
ing changes. Doing it would
probably be a “high leverage
project”—once I figured out the
right adwords, they’d continue to
generate extra leads indefinitely
with no more work on my part.
But it’s not a “must do” in the
sense that something awful will
go wrong if I don’t do it.
For many of us, there are more
of these “wanna dos”—what Ste-
ven Covey calls “Quadrant B
items”–than you could ever rea-
sonably complete in your entire
life. And, unfortunately, these
things don’t tend to fall cleanly
into any one period of time that
you might set aside (for years, I
had the fantasy that I would write
my next book “as soon as I had
3 weeks to devote to it”. Yeah,
right…turns out the only way
they get written is one hour here
and there for months and
months and months.)
It would be so much easier if
these goals WERE simple, and
closed-ended, and if the world
were going to fall down around
our ears if they didn’t happen…
but the fact is, they’re not. And
yet they’re important—crucially
important—to growing your life
beyond its current boundaries.
So how do you motivate yourself
to tackle them, EVEN THOUGH
they will never be nipping at your
heels the way your other to-dos
do, and EVEN THOUGH you will
almost never get the satisfaction
of completing them in one clean
How Accountability Helps Get
Those Important Wanna Dos
The answer is simple—set up an
accountability system with an-
other person where you choose
and name the highest-leverage
“wanna dos” in your life, then are
responsible for reporting your
progress on those goals to
someone else periodically.
This is a very powerful arrange-
ment that works for a number of
1. Most basically, it’s a lot easi-
er to blow off your want-to-do list
when you don’t have to TELL
someone else that you blew it
off. The very act of having to say
it out loud to someone else is
enough to make you make pro-
gress that you otherwise would-
2. Having to come up with
something to commit to for your
accountability partner or partners
in the first place makes you look
at that whole “wanna do” list and
decide which is the highest lev-
erage and most do-able. Drag-
ging out the list and examining it
makes it more a part of your day
to day life, which is always a
3. Finally, your accountability
partner’s own progress will spur
you on to bigger and better
things, which will, in turn, spur
THEM on, and so on.
Now, lest you think I am lectur-
ing without doing, let me say that
I have not one, not 2, but
THREE separate systems for
doing this in my life. I have a
weekly 1-hour call with a person-
al coach for the purpose, as well
as a weekly breakfast meeting
with a colleague AND an occa-
sional mastermind meeting. Yes,
it takes all of that to keep me on
3 Forms of Successful Ac-
I’ve both seen and experienced
several forms of this
Each has its advantages and
disadvantages. They are, in no
28 RE investment News 2014
a. Hire an accountability part-
ner. In this case, only YOU are
accountable, because the per-
son at the other end of the line is
a professional of some sort
who’s there to focus on YOUR
progress. The advantages of this
arrangement are that the other
person has no vested interest in
letting you beg off by saying “I
had a tough week” or in letting
you avoid or change the topic.
He’s PAID to hold your feet the
fire, and is willing to do so even
when it makes you uncomforta-
I use a personal coach for this
purpose—one who’s not in real
estate, but knows what my goals
are by virtue of the fact that
we’ve worked on them together.
I also serve as accountability
coach for my FastTrack stu-
dents, spending a few hours
working out what the highest-
leverage things in their business
are, then calling them semii-
weekly to make sure that they’re
on track with their stated goals.
It’s amazing how many of them
will admit to doing the entire list
Sunday night so that they would-
n’t have to tell me on a Monday
morning call that they didn’t ac-
complish what they set out to do.
And that’s fine with me, because
the important thing is that, unlike
a lot of other people trying to
build a real estate business, they
do it. I couldn’t care less if it’s 10
minutes after our last accounta-
bility call or 10 minutes before
out next one, as long as it gets
(If you’re not a FastTrack stu-
dent and would like to become
one) you can check out the pro-
b. Recruit a friend, colleague,
or acquaintance. This is, in
some ways, the most risky meth-
od—if your partner is 1) not will-
ing to call you on your excuses,
lack of performance etc, 2) does
not have your best interests at
heart 3) is too competitive to
want to see you succeed or 4)
cannot commit to regular, sched-
uled contacts, they will do you
no good (and, by the way, you
have to be just as good a partner
to them as they are to you!)
For this reason, I never recom-
mend using a spouse or signifi-
cant other as an accountability
partner—there’s just too much
chance of history and day-to-day
grievances getting in the way of
a good experience.
Similarly, be careful when
choosing a competitor as your
accountability partner. In one
sense, getting another person in
your field to bounce goals off of
is good; in another, you’re risk-
ing the whole competition thing
throwing you off track.
My weekly accountability partner
is another investor; however,
she lives and works in a geo-
graphic are that I don’t go into,
and vice versa.
c. Put together an accountabil-
ity group. With the same cave-
ats as the above, sometimes a
group of 3-4 people meeting reg-
ularly has a synergy that 2 can’t.
I’d like to share just a couple of
more thoughts about this topic
before I send you off to find an
First, be sure that you under-
stand and continually re-
commit to the purpose of your
meetings, whether they be in
person, by phone, or whatever.
Your meetings have one pur-
pose and one purpose only—to
express and report on the pro-
gress toward your goals. Do not
give in to the temptation to chit-
chat or troubleshoot or brain-
storm until AFTER you’ve done
the important work of your meet-
Second, be sure that you,
yourself, are clear on the high-
leverage wanna-dos in your
life. If you come into your meet-
ings with a goal of “I plan to
make it through this entire week
without exploding” or “my goal is
to keep breathing in and out all
week long” or similar “have to”
goals, you’re missing out on the
power of accountability. Telling
someone that you’re going to do
2014 RE investment News 29
what you’re already doing or that
you know you MUST do is a
waste of your time and theirs.
The point is to pull out some of
the things you should do that
you wouldn’t normally do and
see what you can accomplish—
not to keep on doing the same
old same old.
Third, meet regularly and fre-
quently. Once a week or bi-
weekly is ideal.
Fourth, don’t play games and
don’t let your partner play
them, either. I once left a mas-
termind group for the simple rea-
son that the members did not
hold each other accountable for
either their behavior or their
goals. When your partner gets
angry because you asked him
WHY he made no progress at all
this week, or when you intention-
ally set the bar low because you
just don’t feel like accomplishing
anything this week, you destroy
the trust that’s necessary for
these arrangements to work
Finally, overreach, but don’t
over-overreach. Choose goals
will accomplish a lot if you reach
them, and that are difficult and
out of your comfort zone. DON’T
tell your partner that you’ll do 15
of them this week! With my ac-
countability partners, I usually
have 2-3 projects each week
that I lay out. With less, I don’t
stretch. With more, I only look at
what I didn’t accomplish, rather
than at what I did.
There is immense power in this
kind of accountability. Make it
your next goal to find or hire an
accountability partner TODAY.
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
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
How to Wholesale Houses
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
How to Protect Your Assets and the Basics of Using Land Trusts
Understanding Contracts and all Those Clauses and Addendums
Time Management, Planning and the Importance of Systems
Ever wonder why some of the folks at MAREI are doing 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.
Sign up at MAREInet.com/ES
for Paying in Full
Saturday MAREI Workshops
MAREI has 1 Saturday Workshop planned for every month except
November & December, that’s 10 Live Workshops
Vena’s Email Coaching
30 RE investment News 2014
Let me say something to all of you out there trying to get
traction in real estate investing and haven’t been able to do it
yet. First I want to state the obvious, Don’t Give Up.
But now I have to give you some cold, hard facts. The only
difference between the few successful people vs most
other people out there is the amount of TV you watch.
I know that sounds funny, but it’s true.
9 out of 10 people WASTE the most valuable asset
they have, which is time. You can’t ever get it back, and
the minutes you’re taking to read this is an investment
in your future. Time spent watching worthless TV is
robbing you of your life.
Part of this mental preparation is understanding
the Disciplined Principal that you can’t always
give in to mental candy, which is what TV (and
Are You Going to Make It?
B e H o n e s t w i t h Y o u r s e l f !
You want success, right? That’s essentially the purpose of any kind of training.
However, It doesn’t matter how much “how to” you absorb, it will not cause the result
you want - which is the achievement of a specific goal or milestone. How much action
are you putting behind what you learn?
“Regardless of your experience or location, you can earn unthink-
able interest, or find unbelievable deals to wholesale, flip, or part-
ner on. Even Homer Simpson can do what I am going to teach you.
I mean deals at 10-30% of repaired value.”
2014 RE investment News 31
You have to lessen your donuts, i.e.
the mental candy of TV and frivo-
lous music or you can’t achieve an-
Does that mean zero candy? No, of
course not, we all enjoy some se-
renity. I just watched the game. It
was good, but it was also the ONLY
thing I watched.
I need you to limit yourself and, un-
derstand that any hour not spent
on activities toward your goals is
only slowing you down. And the
people that control the amount of
mental candy they absorb are suc-
cessful. This is a truth you must ac-
cept. Your fate hangs on this.
If you’re not successful, guess
what? You either made mistakes
taking the wrong actions, or you
aren’t taking actions at all, which is
harder to fix, sometimes impossible
to fix. Can’t make the horse drink
Success is BEHAVIOR, not skill, luck,
or even capital. Please tell me you
are internalizing this!
You need to WORK in order to get
what you want. The RIGHT work,
and the RIGHT amount of time ap-
plied to work make ALL THE DIF-
So say goodbye to your old life of
wasting time or trying to do the
least amount of work to get by,
that’s what losers do. Say hello to
your new life of doing what needs
to be done to reach the finish line.
Education and TRAINING is not the
same thing. Education is not
You must be educated to do the
proper behaviors that breed
This is the approach I take in my
own business. I’ve invested in all
kinds of real estate over the past 25
years and one of my favorite ways
is with Tax Liens and Deeds. And
I’m really good at it.
I was taught this strategy over 20
years ago on how to find deals that
I could do simply, in all markets,
and repeat year after year to make
crushing amounts of money, re-
gardless of market conditions.
Powerful Profit Potential in Tax
Lien and Deed Investing
One of the most enticing reasons
for investing in tax sales is they are
motivated people to sell, and al-
most no one takes advantage of tax
sales to own properties. We teach 5
strategies to buy properties
through tax sales that get us amaz-
And you know what? We DON’T go
to auctions. That’s right, most peo-
ple think Tax Sales are about buying
liens at an auction, but that’s the
last place we look. We like liens
that won’t redeem, we like mailing
to people preauction, and we like
buying property directly from the
county for pennies on the dollar!
Flipping properties for fast cash is
an option, but holding them can
accelerate your explosive growth
potential, especially if you marry
holding with other profit strategies
like owner financing, lease options,
etc. We like buying low and holding
to build a passive portfolio, that’s
Generational Wealth, i.e. long term
financial security your kids and
their kids can benefit from.
I CONSISTENTLY buy property for
30 cents on the dollar. Let me be
honest, I actually don’t buy them
for 30 cents - I’m ALL IN for 30
cents. Meaning I buy them AND fix
them for a TOTAL of 30% of re-
paired value. So I’m actually buying
them for 10% or less. Yes, I know,
I’m so clever.
The truth is, there is nothing clever
about it and you can do it too. The
money comes from motivation and
mindset, that’s 90% of the battle.
At Fortris, we pour ourselves into
sharing decades of experience with
people who simply want to know
how to get money made. People
who want to hear things straight
and not get misled following each
crumb. We put the pieces together
in tax sales and we hope that opens
your eyes into a whole new world
of deal flow.
32 RE investment News 2014
Creating a Cash Flow Fortune:
What You Don’t Know About Tax Sales
Is Costing You Million$ !
June 10, 2014 @ 6pm
Career Education Systems, Ward
Pkwy Shopping Center, Top Floor
8600 Ward Pkwy, Kansas City, MO
6:00 pm: Meet & Greet
7:00 pm: Announcements
7:15 pm: Main Presentation
8:45 pm: Late Networking
9:00 pm: Adjourn
MAREI is excited to announce that Tom DiAgostino will be our special guest speaker at
the June meeting on Tuesday the 10th at 6PM inside Career Education Systems Training
Room on the top Floor of Ward Parkway Shopping Center in Kansas City, Missouri. .
Tom will be sharing how he “Creates Cash Flow with Tax Liens and Deeds”. a real estate
niche that most investors know nothing about. Join us at the meeting and you will learn…
• Why auctions are not the answer, and the secret to making maximum interest
• How to make easy 18-36% returns without owning real estate, but enjoying its security
• Where to tap into the most motivated sellers on the planet with the LEAST Competition
• Why this is the easiest way to buy properties so cheap it feels like stealing
• Why there is so much meat on the bone, it’s hard NOT to make insane profits
• How to do it ALL within your IRA
• How we make our staff available to do it for you if you wish
Tom says… “Regardless of your experience or location, you can earn unthinkable inter-
est, or find unbelievable deals to wholesale, flip, or partner on. Even Homer Simpson can
do what I am going to teach you. I mean deals at 10-30% of repaired value.”
“I’ve been around the block for 25 years and done it all. This is not the flavor of the week.
This training will change your financial life now and for generations to come. Stop trying
to ride the next wave, only to find you’re on the back end, left at sea. We’re not just train-
ers, we’re your investment partners. Come join us and spend 90 min on June 10th at the
MAREI meeting where I’ll explain why this is the best deal source on the planet for every
type of investor come back for the Saturday Seminar and I will show you how to do it!”
Tom will be back with MAREI on Saturday, June 14th for a Full Day Tax Sale Workshop.
See page 45 for more details.
We look forward to seeing you at the meeting and the training workshop!
MAREI Members Can Attend
for FREE and Pre-Registered Guests for $15.00
Register Online at MAREInet.com/Main
2014 RE investment News 33
Elite Tax Sale Training
How to Create Generational Wealth
With Tax Liens & Deeds
June 14, 2014 9am to 4
During this One Day Special Training Workshop with
Tom DiAgostino, you will discover:
How to CONSISTENTLY buy properties at 10-30% of Repaired Value so you make more money EACH Deal
Where to get great liens at the maximum rate allowed by the state and double your money in half the time
How to get Valuable properties for FREE with simple mail done for you
How to use your IRA to keep 100% of the profits, compounding your wealth building
What kind of diligence is necessary for the property and for title work to avoid mistakes
Strategies for wholesaling, retailing, rehabbing, and landlording for maximum profit
How to get the same savings on material as Tom’s 20 year
relationships – for more money in your pocket!
PLEASE NOTE: Regular Price to attend is $39 for Members and $49 for Non-Members. To re-
ceive early bird pricing you need to register online, at the June Meeting or via phone before June
12th at 5pm. Members who are participating in our Express Success Program can attend this
Seminar for No Charge, just call or email the office to reserve your space.
34 RE investment News 2014
MEETINGS HELD AT:
(1st Tuesday of the Month)
Career Education Systems
Ward Parkway Shopping Center
8600 Ward Parkway
Kansas City, MO
We suggest parking on State Line Side
by Starbucks. Meeting space behind
Live and Online
Full Details on Calendar at
For first time guest to visit main meeting.
2014 RE investment News 35
Investment News Page 5
TURN TO SHERWIN-WILLIAMS FOR ALL
YOUR PROPERTY MANAGEMENT NEEDS
36 RE investment News 2014
OF REAL ESTATE INVESTORS
The Mid-West’s Premier Real Estate Professional Association
COMMUNITY : NETWORKING : EDCUATION : OPPORTUNITY
MAREI is a Real Estate Community committed to providing Educational & Networking Opportunities.
We strive to introduce potential and existing real estate professionals to all areas of the real estate
investing industry through meetings, workshops, & seminars, both live and online. We keep our
members informed of legislative issues and the latest strategies and technologies.
MAREI provides a positive, no pressure environment where the individual professionals can grow,
network and expand their business. Plus we bring members together for the greater good be it
through discounts from our combined buying power or making our voices heard when there are
governmental or community issues.
JUST A FEW OF OUR INDUSTRY PARTNERS
“You do such a great
job at bringing in great
ideas & speakers, we
are so very happy we
joined MAREI this
“I wanted to share with
you that my most recent
check was $349.94 !!
Wahoo! It’s like free
“Save your hard earned
dollars, join MAREI for $99
yr and have more benefits
and learn from oth-
er members as you need to
do so. Develop friends and
associations that will en-
dure and enhance your real
estate investing from now
on. You will be glad you
- Kara K - Christoph B
- Don S