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Investment News: September 2010


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The monthly newsletter for Mid-America Association of Real Estate Investors. A Real Estate Investing Trade Association based in the Kansas City Metro Area.

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Investment News: September 2010

  1. 1. u MEMBER D ISCOUNT S HERWIN WILLIAMS S e p te mb e r 2010 PAGE ............. 15 u CALL TO ACTION LEGISLATIVE ACTION COMMITTEE PAGE .......... 10 Investment u MONTHLY MEETING A UGUST 23 TH PAGE ............. 8NEWSLETTER OFMID-AMERICA ASSOCIATION OFREAL ESTATE INVESTORS newsFor Real Estate Investors & Property OwnersBOOTCAMP & BUS TOURDon DeRosa and Pete Youngs are teaming up with MAREIin September to offer you a cost savings bootcamp. Totalcost is less than $200 and it’s right here in Kansas City, sono airfare or hotel expense. ($79 for members –Early Bird)Don is well know for using creative financing techniques topurchase and sell homes combined with using privatemoney to have a truly no money down transaction. Andhe has totally automated his office on his new IPad and isgoing to share his secrets.Pete is know for his money savings techniques when itcomes to rehabbing houses to sell or rent. If you want todo it yourself or you want to hire a contractor, he will havetips to save you money. See Page 27 for more details. Register Online Only 20 Seats Left iMaster Real Estate for the iPad Don DeRosa has taken real estate investing to the next level. Total automation and instead of a mobile file cabinet in his trunk, he has an iPad that is about the size of just one file folder in that mobile file box and weighs about the same. Find out more on page 26 . . . He will be presenting how he uses his iPad at the Bootcamp!
  2. 2. Member Profile Active Member of MAREI since Feb 2007  Discounts of up to 65% Visit the Member’s Benefits Section at for your discount card, our special web site, and discount codes!Page 2
  3. 3. Contents MAREI News In This Issue New Web Site Staff 5 September’s Training 6 The Scope of Work 8 It’s up and running Legislative Trends 10 Check it out IPad . . What??? Membership Has it’s Privileges 14 Insurance Myths 16 Click on New Market Update 18 Website Employee or Independent Contractor 20 Calendar 22 Investment Opportunities 24 Find it, Fund It, Fix It, Flip It Bootcamp 27 Features ‫ ׀‬September 2010 When buying You have Advertiser’s Directory distressed someone work for Office Max 2 Monthly Meeting 23 properties, one you. Are MAREI Job board 13 Investment Property 24 of the most they are an 8 10 important employee or Partner Ship 15 25 things needed an inde- Need Market Experts 19 T.O.T.L. Renovations 25 before getting pendent contractor? Accurate Title 21 Home Depot 25 estimates is 4 the Scope of Rockstar Investor 21 F Bootcamp 27 Work.Investment News Page 3
  4. 4. Organization MAREI Notes Contact Information Mailing Address PO Box 8685, Prairie Village KS, 66208 Phone: 816-523-4400 x 222 Fax: 816-523-4440 Our Mission Statement Mid-America Association of Real Estate Investors is dedicated to promoting ethical real estate investing and to protect and promote the best interest of our membership through educational and networking opportunities as well as community, legislative and public relations. Legal Disclaimer MAREI does not exist to rendr 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 communications from or to its members, officers, directors, employees and contractors. Each individual should consult his/her own counsel, accountant and other advisors as to legal, tax, economic, investment and related matters con- cerning real estate and other investments. Content Disclaimer The views and opinions expressed by authors of articles contributed to this newsletter do not necessar- ily reflect those of the association, the board of directors or the staff. Advertise in the Investment News Reach more than 1000 active real Rate Schedule estate investors monthly! Size Non-Member Member Business Associate Full Page $175 $140 $115 1/2 Page $145 $105 $85 1/4 Page $75 $65 $50 1/8 Page $55 $35 $25 A 10% discount is given on ads pre-paid for 6-12 months. Any changes to a pre-paid ad will incur a minimum charge of $20. The deadline to submit ad copy is the 1st of each month. All ads must be prepaid. Contact to verify ad format can be accepted. PDF preferred. There is an additional charge of $25 to typeset a business card ad or 1/4 page ad layout, $60 for a 1/2 page or full page lay-out. Opportunities also exist for advertising on Call 407-328-7773 for more information. Email ad copy to Mail payment to MAREI, PO Box 8685, Prairie Vil- lage, KS 66205 or request an online payment for to use credit or debit card.Page 4
  5. 5. MAREI StaffKim Tucker 816-523-4400 Don Tucker 816-523-4400 Steve BurnsDirector President Audio cashflowtreasures@gmail.comRobin Sage John Welchert Larry PratoMeeting Ambassador Meeting Ambassador Commercial 816-268-3849 913-227-4693Dan Goodwin 913-642-5218 Shelda Goodwin Frank JanssenMeeting Ambassador Meeting Ambassador Creative Financing 816-865-6514 Investment News Page 5
  6. 6. Director Notes September Training I am very excited this month about our guest So needless to say I am really pumped. We speaker and the Find it, Fund it, Fix it and Flip are doing a lot of rehab in our own business it Bootcamp and Bus Tour. and I kno I can pick up some great money saving tips from Pete on our renovations. If I have been wanting to have a hands on home we are able to save just $100 per rehab I inspection bus tour for a while, but the logis- would be happy, but I bet we save more. tics of it all seemed too much. But after talk- ing to Don DeRosa and Pete Youngs who do And as I am all things techie and have been these things all the time, it just did not seem seeing iPads everywhere I go . . . You know that hard. kind of like how you see that red convertible when you are shopping for one . . I can’t wait So we will see how the Bus part goes. If all to find out more. goes well, maybe this could be an event that MAREI members could team up together to I saw them all over the airport. I see all these offer to out of state buyers. You know those realtors and investors online talking about us- folks that want to come to Kansas City and get ing them in their business. I am seeing it in driven around to all the hot rental properties. the Star and the Wall Street Journal where Many groups like ours are offering one as a business are testing them out with there staff. group once a quarter. If you would like to I really think the iPad will be a game changer help put together a buy Kansas City (as in for me, but who knows . . . I can’t even work metro, not the city) Home Buying Tour and my Blackberry . . . . Campaign to bring in out of area buyers, let’s And if you don’t know, a two day event is one talk. of the best ways to meet other people in the Then I spent a very long time checking out business . . . So say for example you sell REOs Don DeRosa and his iPad program in June. I or are wholesale houses, attending the meet- know he was here at MAREI and KCIG last ing and the 2 day event is an awesome way to year with 2 different training events, but the meet new buyers! iPad puts a totally new spin on all his training See you there . . materials and he is including all of his training materials on the iPad should you decide to Kim Tucker purchase the one he is brining with him. Director So even if you went to Don’s all day training MAREI last year, you will probably want to be at this one, even if it’s just for the hour or so he will talk about using the iPad in your business.Page 6
  7. 7. Get Involved Admission to Monthly Meeting . . . Free (For Members) Volunteering Monthly at the General meeting Acquiring enough MAREI Bucks to pay for Membership Volunteer in MAREI Office Real Live Working Real Estate Investor Office Sponsor a Sub Group Your own Private Coaching Group Teach a Class Be the Expert in Your Field Join a Committee Give Back For more information on becoming a volunteer, Contact Kim Tucker, Director, At or call 816-523-4400 x 222 See more pics on our Facebook Fan PageInvestment News Page 7
  8. 8. Mr. Rehab: Pete Youngs The Scope Of Work . . . Don’t get an estimate without one! they are to do and not to do. You might have some- one putting in a new ceiling fan and changing a few When buying distressed properties, one of the most light fixtures and such, and this is fine. But you important things you will need before getting repair need to draw the line and list that this person is not estimates is a ―scope of work‖. A scope of work is a to do any electrical that requires wiring into the detailed list of repairs to be done and the fashion in main service panel. The difference being that in how they are done. The main benefits to having a good scope are that you give the same scope to most states anyone can do fans, light and switches, each bidder. Therefore, the bids can be compared but to wire into the panel box requires a licensed as ―apples to apples‖. Everyone bids on the exact person and possibly a permit. Set the limits on same thing so then you can concentrate on the best what they are allowed and not allowed to do. contractor at the lowest price. We have talked about the who and the what por- In my Rehab 101 training, I use my property in- tions of a scope of work. Now let’s talk about spection forms to compile a de- ―when‖. This is the part of a scope tailed scope of work. There are that tells when the job will start. It several things needed to build the tells when the job will be finished. best scope and I will give you Pete will be our guest You can set the daily working hours some good guidelines to go by for speaker in September and to suit you and also can detail if Sat- yours. You must first list all the is partnering for a 2 day urday and or Sunday are considered materials needed for each aspect working days. Some people Do not Bootcamp & Bus Tour of the job. If you are doing paint- want to have workers on their jobs on ing, list what brand of paint to be with Don DeRosa right Sundays as that is a personal day to used, oil or latex, one or two here in Kansas City. many. In most cases, I will let the coats, sprayed or brushed and worker give me the timeline that they rolled and so on. The more details think the job will take. Let’s say I was the better. However, you should told the job would take two weeks to be able to describe your scope of work in just a few complete. I will agree to this but in my contract I paragraphs. may have a clause that says ― contractor is to com- plete this job satisfactorily in two weeks. After a As in all contracts, the scope should describe who is one-week grace period beyond these two weeks a supposed to perform each article of work. That way $50.00 a day penalty will be deducted from the bal- there is no confusion as to what is expected of each ance due until job is completed. Just to make sure person hired on the job. For example, if you are that the job does not linger too long or in case you roofing the house and also having some carpentry have a contractor who abandons the job, this will repairs done and you find that some plywood needs eliminate your liability for liens or owing money to replacing before the new shingles are put down, the contractor. you must assign who is to replace the plywood…the roofer or the carpenter. Another aspect of the scope of work should lay out the payment schedule. There are many common Aside from the choosing of who is to be given each (Continued on page 9) job, you must also be very detailed about whatPage 8
  9. 9. (Continued from page 8) Remember to get you lien releases gles on top of the existing ones) or is signed every time you issue a check. it a tear off (scraping all old shinglesways to have this set up. One of the and felt down to the plywood and When listing the materials to be usedmost common payment plans is one starting new). and the method of application youthird of the contracted amount down, must be very specific to avoid misun- The last part of a good scope of workwith the remaining balance due on derstanding. If you are having siding is the final acceptance of the workcompletion. This allows most con- installed you want to list exactly and materials done on a property.tractors the ability to buy the materi- what type you agreed to. Is it Hardi- You want to make sure that all codeals needed for the job without com- plank or regular Masonite? Is it tex- for your area has been met. You alsoing out of their own pockets. Some tured, beveled or T-111? Make sure want to make sure that anything thatpeople are wary of giving some the details are there. If doing a new required a permit did have onemoney up front as in some stories roof then you want to know the same pulled for each aspect. If one waswe have all heard about someone type of things…‖the shingles to be overlooked, it’s best to get it nowrunning off with the money and used are Sovereign brand, 25 year and just pay a penalty than to let itnever starting the job. But think of it shingles at $35.00 per square from go on for months or even years. Thisthis way. If you have done your Home Depot‖. Something like that could escalate into lawsuits or worsehomework before hiring someone, for each item to be done to the later. It is important that all youryou’ll know if they are to be trusted. house. Now you also want the appli- needs were met as to the standardsThe reason I will give the one third cation of items to be described. For and quality of the material and work-up front is because if I have given the siding, are they using hammers manship of your job. Always holdthem the money to buy the materi- or nail guns? You want to know this back about 10% of the contractedals, then I have less worry that any- because nail guns can be set to dif- price for your final punch list. Thisone can put a lien on the property ferent settings that regulate how the will insure that you will get your lastfor the materials used. If they paid nail ends up in the siding. If set too items done, so they can receive thefor them up front…no lien. You may strong, the nail heads go too far into balance of pay from you. I know thatalso choose to pay on draws or the the siding and this will allow water to I could have added so much more toamount of work completed. You can get into the siding at every nail and listing what could be in a scope ofpay on Fridays, or you can pay at the will start to cause your siding to rot work, but I feel that this will more25% complete, 50% complete and out almost immediately. Or for the than help you to get the best rehabfinal payment. roof…is it a roof over (putting shin- for the lowest price. For more info on my rehabbing tech-Find it, Fund it, Fix it, & Flip It . . . niques please visit www.peteyoungs.comA 2 Day Bootcamp & Bus TourYou get two full days packed with both class room and in the fieldtraining with two of the countries best real estate investmenttrainers who actually practice what they teach.Details and Registration on the MAREI web,go to : http://www.MAREInet.comthere are only 50 seats on the bus, so be sure to purchase yourtickets today! (Actually only about 15 Left at time of Newsletter Printing) Investment News Page 9
  10. 10. Legislative Legislative Trends In Mission, KS: court ruling. The proposed state constitutional protection against the unfair taxes will appear The Mission City council approved a on the Nov. 2 general election ballot as ―transportation utility fee‖ or a ―driveway tax‖ Amendment 3. as it is being called in the media to tack on a tax to the real estate tax bill for every home, The states dismissal of its appeal to the Mis- small business, and large that will have cars souri Supreme Court followed positive talks going in and out of their driveway. Tax to be between the Vote "YES" To Stop Double Taxa- based on the estimated traffic. tion Committee and the offices of Secretary of State Robin Carnahan and Attorney General More info is on the MAREI blog and we would Chris Koster. Together, they agreed to ask like to hear your comments. Cole County Circuit Judge Paul Wilson to mod- ify his ruling in the committees favor issued In Kansas City, MO: earlier this week. The judge agreed to the modification, addressing the states issues It was reported to MAREI by Ryan Walls that while declaring there were more than enough there should be a business meeting in Kansas valid signatures of registered voters to place City Missouri regarding the Storm Water Bill- Amendment 3 on the ballot. ing on September 23rd at 1:00 pm. At the time of printing, this meeting was still "This is a win-win-win for Missourians," said planned. We will be posting the email reply Chuck Hatfield, of Stinson Morrison Hecker, we received from Cathy Jolly on the MAREI LLP, attorney for the Vote "YES" To Stop Dou- Blog. ble Taxation Committee. "The Secretary of State may move ahead with the important work of finalizing the fall ballot. The taxpayers Right Here at Home in Missouri: are spared the time and expense of litigation. And our committee can focus on informing Missouri voters about the need to Vote "YES" For Immediate Release To Stop Double Taxation by barring unfair real Friday, September 3, 2010 estate transfer taxes in the state." With Secretary of State’s Appeal With- The 21,000-member Missouri Association of drawn, Missourians Have Clear Path to Realtors, which is strongly supporting Amend- Vote “YES” to Stop Double Taxation ment 3, commended Secretary Carnahan and Attorney General Koster and their professional Media Contact: Attorney Chuck Hatfield staffs for working constructively with the Vote Office: 573-636-6827 "YES" To Stop Double Taxation Committee to E-Mail: resolve possible issues and avoid needless (Jefferson City, Mo.) – The Vote "YES" To Stop court delays. Double Taxation Committee is moving ahead Transfer taxes on home sales are double taxa- to inform voters about the need to prohibit tion because Missourians already pay annual real estate transfer taxes in Missouri, after the property taxes on real estate, often over many state on Friday dropped plans to appeal a key (Continued on page 11)Page 10
  11. 11.  Notifying MAREI where there are issues pending that alldecades of ownership. Missouri is members need to know about To find your congressman:among just 13 states that do not  Assisting in our proactiveimpose a transfer tax on real es- Visit and put in steps to help move along thetate sales, including all of Mis- your zip code in the top left hand cor- issue, stop the issue, orsouris neighboring states. As ner of the screen. amend it for the betterstate, county and city revenuesdecline, politicians may be So do you have 30 minutes a To find your senators:tempted to impose new transfer week to take a look at your localtaxes - just as Missouri citizens city government online and see Visit struggling to make it. what they have coming up in contact_information/senators_cfm.cfm their plans? Do you have time toThe wording of Amendment 3 is tell other members of MAREIstraightforward and simple: when we should join you at a city"Shall the Missouri Constitution council meeting when there arebe amended to prevent the state, board or email them to important issues to be decided?counties, and other political sub- and we can Would you have time to send adivisions from imposing any new post them on the message board, letter or an email to the appropri-tax, including a sales tax, on the email them out to the member- ate officials?sale or transfer of homes or any ship, discuss them on the blog,other real estate?" To notify other members of and report them here in our In- MAREI of the issues you can post vestment News.Learn more about the amend- them on the MAREI messagement or ProactiveWe have two choices as smallbusiness owners in the real es-tate community we can either becontinually reacting to what is Watch the MAREI Blog for Updates . . .going on around us or we can getinvolved, take action, and be And Working Links.proactive.So here at MAREI we would liketo invite you to be part of theproactive group. We are lookingfor people to take part in our leg-islative affairs committee by: Becoming a part of our gov- ernment affairs committee Getting to know who the law makers are in your city and state Watching what legislation is coming up at city & state lev- els Investment News Page 1
  12. 12. Technology I Pad What ??? Are you a tech person? I am trying to be, but not music. When it came time to get off the plane, it quite there yet. A few months ago I was at the Na- slipped into his carryon. Consider they are bigger tional REIA Convention and ran into Don DeRosa than a Black Berry smart phone, but not by much. who has converted his entire office and stream lined So, I thought we should look at some of the applica- it all onto his iPad. tions most people say you need to have and what We were there for 3 or 4 days and every time I had a they can do for you. question of some sort for him, he picked up his iPad 1. Evernote: This is a free app that allows you take and showed me the answer. And you and I both notes and file them away into notebooks (think know customers love to be shown. file folders), each note book is displayed in photo Personally I had not really ever thought about an form on your screen. It will also convert your up iPad until that convention, but everyone had one. to a 20 minute voice note into text. The guy waiting at the airport next to me used it to 2. iBook: If you are a reader like me, not sure if I check his facebook, twitter, and email. Then he read will like over mushed up paperback. But it would some really important looking documents, put a sig- sure come in handy to read books in your spare nature on them and clicked something. Then he time where you would not have room to carry a slipped the thing back in the side of his carryon and book. Plus if you are reading training materials, got on the plane. Then on the plane, the guy next to you can highlight text and it has a search feature me checked his email and then read the Wall Street to find a particular bit of info in the entire text. Journal in what looked like the entire paper format. Then he switched over to reading a book. At the 3. Fwix: This is a Newsreader that you can set up same time, he plugged into it and was listening to to download top news stories about your area. No ads. Clean look. Several others available. 4. Dragon Dictation: saves dictated notes although you can’t see the text as you dictate. So if you are planning on writing a book, this might come in handy or if you are walking through a house, you can dictate your observations to review later. Several others. 5. Netflix: Watch streaming movies on your iPad through your Netflix account. How’s that for productivity. 6. Zillow: puts all the info on at your finger tips. So you can get data on a particular neighborhood in an instant. 7. Intaglio Sketchpad: great to use to sketch floor plans using a vector drawing applications. 8. Numbers App: is similar to Excel from Mi- crosoft with a bunch of templates preloaded. So (Continued on page 13)Page 12
  13. 13. MAREI Jobs Board you can use the premade or de- sign your own spreadsheets using this app. Great for figuring mort- gage payments, interest rates, or how much to pay for a house. Post your Job Openings!!!9. Keynote: This would be compa- Need full time help? rable to Power Point, although better. You can create presenta- Part time help? Virtual or by the Job Projects? tions and then look really sophisti- cated using the features for mov- Check out the MAREI Job Board ing around the photos with your fingers.10. Wordpress: If you don’t have a MAREI realizes that there are many members looking for full and part time blog yet, you need to get one, and jobs that relate to their real estate business. Sort of an earn while you the Wordpress app makes it easy learn kind of scenario. We also know that many of our members are look- to update on the go. ing for staff in some capacity. We invite you to utilize our Jobs board11. Jott: another voice to text and To view jobs: from my research online, the te- chies think this is one of the best 1. Go to quality for transcription. 2. Look under MAREI Tool Box12. Sherwin-Williams Color Snap: Let’s you match paint colors to a 3. For MAREI Jobs Board. photo you have just taken.13. iHandy Carpenter: has basic To post jobs. tools like plumb bob, surface level, bubble level bar, steel pro- 1. Log into the Member Area of tractor, and steel ruler. MAREI14. Mortgage Calculator Pro: For 2. Click on the Job Bank tab on figuring out those mortgages on the left. the go.15. 1Password: so you don’t have to 3. Click on add Job Listing remember them all. 4. Fill in fields with your job infoJust a quick note, these apps and 5. Click Submit Listingtheir uses are from a Google search. Idon’t have my iPad yet, so I can’t play 6. If your listing does not appear, it means we have not yet had a chancewith them! to approve it, a quick reminder email to will get it activated. Investment News Page 13
  14. 14. Benefits Membership Has Privileges! Besides getting awesome deals on train-  Office Max: From printing & binding, ing programs on our webinars and at our to finishing & customizing - to reduc- seminars, are you taking advantage of ing time & money with discounts from everything MAREI has to offer you? As a 10% to 60%, Office Max ImPress of- Member of MAREI you are also a member fers solutions for the full range of your of the National Real Estate Investors As- needs. sociation (MAREI). These and many more  Save time and money benefits are available to you for FREE! while shortening the duration of va-  Home Depot: A biannual rebate of cancies between tenants with our mar- 2% of your net sales for your pur- keting and save time with our tools. chases at The Home Depot and Home Members receive 20% discount off Depot Tool Rental through an unparal- regular pricing. Number 1 in the leled Material Purchase Rebate Incen- search engines. tive Program. Many members across  Travel Discounts with avis, Budget, the country have cashed checks for and Enterprise. $1,000, $2,000 and $3,000.  Real Estate Books by the nation’s larg-  Sherwin-Williams: One of our most est provider of real estate training ma- popular and most used benefit, Sher- terials—Dearborn, Nolo, and Kaplan. win-Williams offers unbeatable pricing To find out complete details on all these to National REIA members. Enjoy member discounts log into the member deep discounts on paint, applicators, area and look at the Benefits Section in floor covering, paint sundries, wall the Library. We also mail a complete covering, spray equipment, and even booklet with all discounts and instructions window treatments! Your discount on how to access when you renew or join card is in your membership package. or upon request. To request email  FedEx: Receive significant inbound and ask for the and outbound discounts on small member benefits booklet. package shipments through FedEx, as well as copying and printing services through FedEx Office.Page 14
  15. 15. To Enroll: visit the Member Benefits Section of the MAREI Online Library for our link to register for discounts with PartnerShip and FedEx. Start saving today!Investment News Page 15
  16. 16. Tim Norris Insurance Myths . . Insurance is the one thing for which we pay that we policy. never want to use. However, in the event you need 3.Buying a property in your personal name and us- it, you certainly want to be properly protected. The ing your homeowner’s policy liability is fine… points presented here should hopefully allow you to grasp a few of the pertinent insurance issues for I can’t think of any reason that exposing your per- whatever your real estate endeavor may be. sonal assets to the risk of real estate investing makes sense. If this is the only option your current Myth # (presented in no particular order): insurance person suggested, then either find one 1.Insurance is mutually exclusive of estate, tax, that is more real estate investing-savvy, or take the and financial planning… time to help them understand more about what you do. The last I want to do is tie-in ―my stuff‖ to the Actually, insurance inter-relates to each of these, as exposures of my real estate investments. Asset they should work in harmony with one another. You protection strategization inherently is a combination attorney, accountant, financial planner, AND insur- of insurance, entity creation, and ance advisor should certainly know what each of ―compartmentalization‖. the other has planned specific to your goals. As such, excluding one from the others is contradictory 4.The ―personal‖ dwelling fire policy is sufficient to efficiency and cost-effectiveness. Consider these (―cheap‖) to cover my non-owner occupied rental… four folks as your ―trusted team of advisors‖ and Those that usually promulgate this attitude in the encourage them to consult one another as neces- insurance industry either don’t have commercial- sary. type carriers/markets and/or proper knowledge. 2.Being named as an ―additional insured‖ on the Not only does the dwelling fire policy require liabil- existing homeowner policy will protect my interests ity to be extended from your homeowner’s policy in a subject-to deal… (see #3), many coverages that are vital to a true ―rental‖ property are either missing or need to be This could do much more harm than good, in real- purchased over and above. Though the basis of a ity, if you (or your entity) own, or have a financial completely different presentation, some of the ―stake‖ in the property, be the ―first named in- highlights of the "commercial policy preference‖ are sured‖. The first named insured is the primary re- the inclusion of rental loss coverage, unit limita- cipient of any potential claim benefit or liability pro- tions, and pollution exclusion issues. tection. An ―additional insured‖ will garner liability protection only. A ―loss payee‖ will have its inter- 5.I have a personal umbrella policy (PUL), so I ests protected in the event the property itself is don’t need commercial insurance… damaged. (A mortgagee is inherently BOTH). If you Like most insurance polices, your personal umbrella decide to keep the ―homeowner’s‖ policy in place protection contains much exclusion. One of the and be named as the additional insured, be ad- most glaring for the real estate investor is the vised. If it is discovered that the ex-owner, the first- ―business pursuit‖ exclusion. If your real estate named insured in this case, no longer owns the investment(s) aren’t a ―business pursuit‖, then you property, expect the insurer to deny based upon the need to consider divesting! In other words, your fact the policyholder no longer owns the property. PUL is designed for ―personal‖ exposures. A com- Even if you manage the claim to be paid, you are mercial umbrella over and above the liability in your not the entity to receive the proceeds, as you are commercial package policy is appropriate. not the first-named insured. If you did attempt to be added as a loss payee as well, chances are the 6.A claim that occurred before I (or my entity) insurer will question the necessity for you being owned the property shouldn’t affect MY insurance named as such. When the insurer discovers you rate… now own the property, they will need to write a newPage 16
  17. 17. (Continued from page 16) the best idea. 12. Its enough to simply require 9.I need ―builders risk‖ coverage forThe insurance industry not only un- renters insurance in a vacant or rehab project/deal/derwrites ―you‖, they also underwrite my lease... property…and rate based upon the claims his- Though most land-tory of the property itself. A CLUE Unless the rehab is consider- lords require and/or(Comprehensive Loss Underwriting able‖ (definition varies by insurer), encourage tenants toExchange) report will detail the there are policies specifically de- carry renters insur-claims that have occurred at a cer- signed for the rehab property. In our ance, not all actuallytain address (as well as other crite- area, Diamond States, AMIG enforce it. Not only is it a good idearia). Have your insurance advisor (American Modern), and Foremost all for your tenants, the liability benefitrun a CLUE on your next property offer such contracts. If an insurance also provides benefit for the landlord.BEFORE you make an offer. The in- agent advises that they cannot find In the event of a negligence claim, itsurance rate can certainly affect your coverage for your rehab property and actually give you and/or your insurerROI… offers the Ohio Fair Plan, chances are a "buffer" of coverage that poten- they simply don’t have they con-7.―All-risk‖ insurance covers every- tially could offset or reduce a payout tracts with the carriers mentioned.thing I need… amount by your insurer. Obviously, The Ohio Fair Plan should be the last consult with your attorney regardingBy definition, ―all-risk‖ simply means option for the property, not the first. this, but, in general, that extra layerthat unless something is excluded, it 10.It is worth it to hire the of coverage is a positive covered. ―Named peril,‖ means ―handyman‖ to do work on my rent-just that, in order for a loss to be 13. (Bonus) Cheaper is better… als…covered, it’s cause must be named in The cliché rings true: you get that forthe policy. So, even though ―all-risk‖ Don’t get caught up in the great bid which you pay. Work with an insur-is a more comprehensive form, it to do work in/on your rental property ance advisor that understands thedoes not mean that ―everything‖ is or rehab project from the ―fly-by- idiosyncrasies of real estate invest-covered. Take a look at your policy night‖ handyman-type help. ing. They can be an independent orexclusions. Not that many of these Chances are, they not only do not a ―captive‖ agent. As long as theyexclusions can’t be purchased back, carry liability insurance (puts the risk have a recognition of the challengesbut they usually generate a pretty back on you as the owner), they also that face your investing endeavors,long list. probably don’t carry worker’s com- and have access to a carrier (or car- pensation (WC) protection. It isn’t8.Self-insurance is too risky… riers) that fill your needs (in conjunc- worth the risk to save a few bucks to tion with the strategies discussedA deductible is technically self- not hire the ―legitimate‖ contractor here), challenge them to get you theinsurance. As a rule-of-thumb, con- for such endeavors. Even the tenant best VALUE for your insurance, notsider the lowest claim amount you who cuts the grass for reduced rent the cheapest rate.would file with the insurance carrier, potentially exposes you to WC andthen double it. This is the minimum liability issues. Always require con- Insurance is a gamble. The insurer isdeductible I would suggest you carry. tractors to provide certificates of in- betting you won’t need it, while youThere is a point of diminishing re- surance (COIs) for both their liability bet that you will. With the help of aturn, however. In other words, and WC coverages. professional insurance advisor, gainthough you may not file a $5,000 enough knowledge to make cogni- 11. If I use my personal vehicle toclaim, if the premium savings it zant decisions on your specific service my properties, my personal(versus, for instance, a $2500 de- needs. As part of an asset protection auto policy is sufficient...ductible) is negligible, then you may plan, it is vital that you are comfort-as well go with the lower. In the Make sure your "personal" auto in- able with your coverage and protec-long run, statistically, the premium surer is aware of any vehicle that tion BEFORE you need it. I sincerelysavings by carrying ―higher than you use to service your investment hope all of your premium dollars gousual‖ deductibles usually pay for properties. Dont assume that just to waste!themselves. Remember also, that because you own the vehicle person- Article provided by Tim Norris with Na-completely self-insuring a known ally means that you dont need com- tional Real Estate Insurance Group. Timamount, such as a property with an mercial vehicle insurance. Usually, Norris is an investor and NaREIA, OREIAarguable repair or reconstruction the usage of the vehicle is what dic- and Cincinnati REIA member. Visitvalue, can be a consideration. How- tates the proper method to insure it. www.nreinsurance.comever, self-insuring unknown amounts, Also, many times the "business pol-such as liability claims, may not be icy" is less expensive, actually! Investment News Page 17
  18. 18. Trends Market Update July 2010 Housing Trends This is a trend that seems to be showing up The Kansas City Regional Association of Real- all over the country. In this month’s Realtor Magazine, the American Institute of Architects tors are projecting a slow recovering into the fall. The key factor in the recovery being un- see that home owners are favoring smaller spaces that are cheaper to maintain. There employment and right now buyers are afraid to jump in with out the reassurance they will has been a drop in demand for upscale prop- erty enhancements that use more energy, wa- have a job next year. National Association of Realtors expect unemployment to decrease a ter, and time to maintain. bit in 2011, and bring in more buyers, but no When we change gears and look at the total significant increases in price or sales rates. number of home sales from July 2009 to July 2010 we have ups and downs that hits bottom All MAREI members can log into the MAREI for both new and existing in January 2010 member library and download the July Charts with only 104 New Homes sold to review in detail plus nationwide data from and 1075 Existing Homes sold. Real Trends Then peaking the in May fueled If we look at the Kansas City Market: by the Tax Credit with 305 We see Average Sales Price on New homes New Homes sold and 2642 Ex- creeping up in Johnson County in July 2010 isting Homes Sold. After the over July 2009. Existing Home Prices are up Tax Credit Expired, New Home in Johnson, Miami, and Platte. And Combined Sales dropped severely from New & Existing prices are up in Johnson and the 305 of May June to 102 in July, approxi- Miami. For the most part we are seeing price mately 2/3rds lower. Existing Homes remain consistent except for a large over Dropped as well from the 2542 peak to 2291 $100,000 price reduction in new home values in June down to 1537 Homes in July. in Cass County. When we look at the Inventory Available for In talking with Lonnie Branson from the Keller sale we see that New Home Inventory is way Williams Southland Office, we find that this down from 2486 in July 2009 to 1557 in July price reduction can be contributed some to 2010 (about 37% lower). Existing Homes on the lowering of prices 8 to 10% on existing the other Hand went down from about 14000 new home ―spec‖ inventories to get them sold in July 2009 to 12000 at the bottom in De- and more importantly that builders are just cember and now in July 2010 we are back up building a lower priced home as there is more to almost 16000 Existing Homes Available for demand in today’s market for smaller, more Sale (about a 14% increase). economical and thus lower priced homes. (Continued on page 19)Page 18
  19. 19. Market Experts Wanted(Continued from page 18)When we look to see if we have abuyer’s market or a seller’s mar- Are you an expert on the market in your area orket we generally consider a 5-6 field of expertise? We are looking for experts onmonth supply a draw. Newhomes have about an 8.2 months Residential, Apartments, and Commercial tosupply and Existing homes have contribute to the newsletter, the blog, and thean 8.1 month supply. So we arestill as everyone probably knows, meeting. Be seen an expert in your a buyer’s market. Contact info@MAREInet.comSo where should we be investingour money . . .that is going to be to be a demand for more rental prop- any time on the system and you willa matter of personal preference, erties because of the simple growth in find these types of properties avail-but generally speaking if we are population combined with a smaller able metro wide in all sizes, shapes,looking to buy and sell in the percentage of owner occupants. and price ranges.short term in my opinion would Mortgages are going to be tougher to So then we are back to “where,be where the money is and right get with tighter borrowing standards. should we buy and hold”? “What is anow that still seems to be in the Combine that with large numbers of good area to be buying rental propertyhands of first time home buyers people who recently were affected by in?” We would love to hear where youin the FHA market. That’s in foreclosure who will not be able to get think “the place” to be buying housesprice ranges under $200,000. a home loan for several years. Plus might be. We will be posting this arti- wages are lower and credit reports cle in our blog section (atBut what if you want to buy and may not look so good after bouts with and would lovehold for longer term: first you job loss. to read your comments.want a property that is going to This all adds up to a higher demand Let’s take one last look at multi familycash flow now, buying to hold for for rentals and the article and com- trends just in today froma negative cash flow does not mon sense tell us it is a good time to Their recent email in-make sense. Next you want to buy investment real estate to hold for cluded a graph of the average askinglook at an area with stable val- rental, if you have the capital to do so. price per unit on multi family. For theues, and if you look at where the Record low prices, record high num- entire state of Missouri, the trendvalues are holding steady you are bers of short sales being approved, seems to be about $42,500 a door,seeing in home buyer ranges be- record numbers of foreclosures on the Kansas City seems to be abouttween $100,000 to $200,000 or market, and other discounts in interest $36,000 and Jackson County seemsincreasing in value. But this is rates and other acquisition costs. to be just a tad under $30,000. Therejust my personal opinion. does not seem to be multi family data Granted RealtyTrac, who publishedOther trends published in an article the article want you to purchase their for Johnson and Wyandotte Counties“How Wall Street Reform Benefits data to acquire the short sales and on the site, but the average price perForeclosure Buyers” by Peter G. Miller foreclosures, but a simple look door in KS is about $39,000.from, we see that the through MLS will allow you to searchgovernment is backing off from poli- listings based on “short sale” in thecies promoting home ownership for comments section or “REO” or “Bankeveryone. That means there is going Owned” in the ownership field. Spend Investment News Page 19
  20. 20. Marketing Employee or Independent Contractor While this article outlines issues happening in We can look at 20 simple situations to help Missouri, they are also very valid points in any determine which is an employee and which an state. independent contractor. The Labor Department’s Division of Worker’s 1. Instructions are given to employees Compensation is taking action against employ- about when, where and how, while con- ers who are required to carry workers’ com- tractors set their own rules. pensation but do not. 2. Training: Employees are trained by the Failure to provide the required coverage is a employer while contractors pursue their Class A misdemeanor with a penalty equal to own methods and pay for their own train- three times the annual premium the employer, ing. should have paid, up to $50,000. Plus the 3. Integration: Employees are a part of the employer is also on the hook for the costs of employers business, while the employers any injuries suffered by the employee. A sec- business could continue with out the inde- ond violation results in a Class D felony. pendent contractor. So who is must carry Worker’s Comp: Any 4. Services Rendered Personally: by an person or company who has five or more em- employee where a contractor could sub it ployees except for construction industry. out to someone else. There anyone with more than one employee must carry a policy. Exceptions include those 5. Hiring, Supervising, Paying: Employees covered under special federal law, farm labor, do this at the direction of the employer domestic servants, occasional labor, qualified while a contractor is free to hire, fire, and real estate agents, direct sellers, and unpaid pay who he pleases. volunteers. 6. Continuing Relationship: An employer The Department of Labor has also created an works for the same person year after yer, online tool where employees can access the a contractor could work for several differ- workers’ compensation database to see if their ent people in a week. employers are carrying the proper coverage. 7. Set Hours of Work: Employees have set It would also seem to me that investors could hours or Contractors work when they want check for proper coverage when hiring con- to. tractors. 8. Full Time Required: Employees only To access this tool, go to work for 1 employer while a contractor DWC/tool/wc_cov_ver.asp might work for several people. After determining that if you have one or five 9. Doing Work on Premises: Employees or more employees you can determine that usually work at the employers sit, while a you need worker’s compensation. But then contractor could work on site or remotely, next question becomes, what is the differ- or at their own offices. ence between and employee and an inde- pendent contractor. (Continued on page 21)Page 20
  21. 21. (Continued from page 20) 15. Payment of Business and or Travel Expenses: Usually paid for by the Employer where as a Con-10. Order or Sequence Set: Employers set this tractor pays for his / her own expenses. up for the employee, Contractors determine 16. Realization of Profit or Loss: An employee can- their own order of doing things. not realize a profit or loss based on a good or bad11. Payment by the hour, week, month: Em- decision. Contractors on the other hand face profit ployers usually get paid by time worked while or loss based on decisions daily. a contractor will get paid by the job usually 17. Working for More than One Firm at a Time: based on a bid provided in advance. Employees usually only works for one employer.12. Oral or Written Reports: Employees usually Contractors usually work for several. have to report on their work to the Employer. 18. Making Services Available to the General Pub- Contractors do not. lic. Not done by the employee, but a Contractor13. Furnishing of Tools and Materials: Em- have their own offices, business licenses, are listed ployers provide tools, Contractors provide in business directories and maintain their own their own tools and materials. business telephones and other marketing media.14. Significant Investment: Employees have no 19. Right to Fire: Employees can be fired at anytime. significant investment in the facilities and tools Contractors have their work protected by a con- used to perform a service. A Contractor has tract. considerable investment in their facilities and 20. Right to Quit: Employees can quit at any time, tools. contractors are bound by their contract. ACCURATE TITLE COMPANY “When You Need Timely, PRIVATE LENDER Top-Quality Service . . . “ Locally Owned & Operated Private Money Lender  Owners and Loan Policies We are a Direct Lender, not a Broker  Endorsements  Ownership & Encumbrance Reports  Rehab Loans up to 100% of Costs  Foreclosure Reports  Up to 65% of the After Repaired Value  Ownership Information  Terms from 30 Days to 1 Year  Tax Information  Rates from 12 to 16% Interest Only  Buyer’s Closing Services  Seller’s Closing Services  Points from 6 to 10 in Lieu of Equity  Lender’s Closing Services  Appraisals Required  Recording Services  Funds Disbursement Services Draw Requests on Wed.  1031 Exchange Services Paid on Friday  Special Requests P: 913-338-0100 Jeff Basler F: 913-338-0107 913-221-9080 Investment News Page 21
  22. 22. Calendar Upcoming Events Sub Group: MAREI’s Commercial Investors meet every Sept other week. This month on July 11th and July 25. This group is for MAREI members and their guest. See online calendar of events for more information. 8 Lee’s Summit Investor Breakfast Lee’s Summit Investors Sept Networking Group meets the 2nd Saturday of the month for coffee, breakfast, and conversation at the Panera Bread on 11 Chipman Rd in Lee’s Summit. Open to MAREI Members & Guests.Children & College Students Industry Partner Expo Table Deadline MAREI members Sept may reserve table space for the Expo & Networking timeIs your child interested in real from 6 to 7pm at the Monthly MAREI Meeting. Must be estate? Is ready to learn? Add your child aged 12 to 18 14 reserved by July 12th. Reserve through the calendar at to your membership.College Students with student MAREI Monthly Meeting MAREI meets for networking & ID, we have internships Sept education on the 2nd Tuesday of the month from 6pm to 9 available. Work in the pm. At the Sylvester Powell Jr Community Center. No MAREI office for $10 in 14 Charge for Members, Guests $25 at the door, $15 if pre- registered. MAREI bucks to use for Membership & Workshops Find it Fund it Fix it Flip it: Bootcamp and Bus Tour with ContactMAREI Office for more info. Sept Don DeRosa and Pete Youngs. Complete details at (click on the bus) or see pages 27 & 18/19 28.Page 22
  23. 23. Monthly MeetingSylvester Powell JrCommunity Center6200 Martway, Mission KS913-722-8200Tuesday, September 14 5:30 Member BenefitsDoors open at 5:30 5:45 Set Up / RegistrationMembers: FREE 6:00 Industry Partner ExpoGuest Fees: $25 at door . . 6:00 Member Networking Pre-register online for $15 Invite your friends 7:00 Haves & Wants (new feature) colleagues to visit theIf guests join with in two days ofthe meeting, their guest fee will be 7:30 Presentation w/ Tammy Monthly Meeting forapplied to the membership fee with Robb & Janice Dehart with a Guest Passproof of payment. See Page 8 & 9 (available online atPlease call 816-523-4400 x 222. 9:00 Informal Q & A 9:00 New Member Location For each new member you Registration 6200 Martway refer, earn MAREI Bucks Mission, KS 66210 which can be used towards seminars, advertising, North of Shawnee Mission Pkwy Park in North Lot or membership fees. South of Johnson Dr 2nd from the Building East of Lamar Less Kids & Door Dings Investment News Page 23
  24. 24. Properties Investment Opportunity Address City Offered as Price Bed / Bath Contact Phone Not given Weatherby Lake REO Updated home JJ Palowski 816-977-8230 1634 Kensington Kansas City, Mo Turn Key $48,000 3 bed, 1 bath Stephen Summers 816-350-7200 3124 Mersington Kansas City, MO Rehab $15,000 3 bed, 1 bat Danek Fonrose 816-804-4506 Haystack Rd Raymore, MO Short Sale $195,000 3 level, 2900 Joyce Myers 816-509-0884 sqft 6010 E 149th Grandview, MO Short Sale $40,000 3 /2 1 car Eric Deeter 913-579-3354 crawl 1112 E 42nd St Kansas City, MO Rehab $25,000 4 Plex Eric Deeter 913-579-3354 2912 Lockridge Kansas City, MO Rehab $29,000 6 Plex Candace Vanice 816-268-4722 No address Grandview, MO Rehab $30,000 3 bed, 2 car Candace Vanice 816-268-4722 Waldo Kansas City, MO Move In No Price, Sale or 3 bed, 2 bath Scott Doherty 913-735-7351 Lease to Own Market Your Properties Do you have investment properties to market to the membership? Be sure to log into the MAREI member area and post your properties on the classified page. Be sure to include: Address: Street & City, State Type of sale: Wholesale, Listing, Turn Key Price: Your asking price Type of Property: Single, Duplex, Multi, Etc Contact: Name & Phone Number Web Link: For more info and more photos You can include 1 photo, but make sure it is not too high quality a photo or it will have too many pixels to load. You may also want to list on the message board as well and post links on our social media pages. MAREI will Email Blast out properties from time to time, but must have address and price.Page 24
  25. 25. NEED TO FLIP A PROPERTY FAST? T.O.T.L. RENOVATIONS PROPERTY LEADS WANTED Top of the Line Renovations for all your rehab needs quickly, at a reasonable price. NOTICE: We specialize in: WHOLESALERS, INVESTORS Make-ready Siding & Windows Carpentry & RoofingOur company money is sitting idle for Plumbing and Electrical Painting & Flooring lack of houses. Looking for rehabs Drywall & Doors Fences & Decksto retail in Lee’s Summit, Blue Springs, Kitchens & Baths and Johnson County. Licensed and Insured Call Anthony @ 816-606-0266 or Emily @ 816-252-0095 816-523-4400 x 223 Roger Holyfield  (816) 510-9199  All MAREI members can register through our On average from January to June special link to receive a 2% rebate on all pur- 2010, 11 MAREI members partici- chases made at Home Depot. From a $5 item for pated and received $125 back, the a week end project to a $10,000 rehab: kitchen, lowest was $25 and the highest lights, appliances, Etc. $450.Investment News Page 25
  26. 26. Marketing Streamline Your BusinessDon DeRosa has just rolled out all of his tools on the brand decide if it worth your precious time to go look atnew iPad, an amazing tool that streamlines your real es- it. . . and you can do this from anywhere.tate business, saving you time, making you money, giving OK, this is probably one of the more mundane things,you a competitive advantage. but you know you don’t keep track of your mile-This is a perfect tool for Real Estate Professionals: Whole- age the way you should ( the accountant alwayssalers, Rehabbers, Landlords, Realtors, Home Inspectors, reprimands you at the end of the year.) Well, noand anyone who does business on the road. Don DeRosa more, you can track your mileage with the tap ofhas literally taken his real estate business on the road, he a button when you start and stop. It does if forcan do just about everything that needs to be done from you. No more re-creating the wheel at tax time,the comfort of where ever he happens to be . . . using the or remembering to write it down in that littleiPad. In this Bonus session Don will show you how the notebook that is always hidden away in your cariPad has totally changed the way he does business. . . after each ―business‖ trip, something that is verysaving him countless hours of unproductive time that hard to do when you have 3 or 4 or 10 businessused to be wasted on “administrative” tasks. trips in one day.NOTE: EVEN IF YOU DON’T OWN AN IPAD YOU HAVE TO Ok, that’s just three ways to save time.COME AND SEE HOW YOU MIGHT BE ABLE TO USE SOME And Don has at least a dozen more time-saving tools thatOF THESE IDEAS!! he’ll share with you. So don’t let these repetitive admin-With these simple tools that Don uses in his business every istrative tasks steal productive time. Instead, use a toolsingle day, you’ll see how to get back an extra week a that will make you more productive.year to call your own. (FREE TIME, literally!) Plus, Don will show you that his complete set of realOr if you are a dollar and cents person, how about making estate investment courses, plus hundreds of hoursan extra $18,000 each year (basically flipping an extra of seminars, boot camps, interviews and other bo-house), but simply changing how you do your current nus information is included on the iPad in his IMas-tasks each day? ter Real Estate for the iPad . . . all loaded up and ready to use.In this sneak preview, you’ll see how you can streamlineyour business and eliminate (yes get rid of) many time- Imagine, if you are a new investor and have never filledconsuming, unproductive tasks with simple iPad tools. out a purchase and sale agreement or a subject-to pur- chase, you can pull over in your car and pull up and viewFor example: a short video where Don walks you, step by step, through Never copy and fax a contract to your title company how to fill out the purchase and sale agreement, line by (with another copy to the buyer or seller, and eve- line. Right before you walk in the house, and fill out the ryone who gets a copy in a transaction) again. In- contract, right on the iPad. stead, fill out the contract, save and sign it right Or before you walk into a negotiations, review the video there on the iPad, and then email it (and any other on how to answer all the typical seller objections. necessary paperwork) automatically, from your iPad. Or review his script that tells you exactly what to say to a Private Lender you are meeting for the first time. So you Evaluate houses more efficiently. With its internal GPS, give a completely professional presentation. use the iPad to pinpoint exactly where you are, then find the prospect house so you know where It’s iMaster Real Estate for the iPad. you are going. At the same time pull up a street It’s everything you need, when you need it . . . all in one view of it. That way you know – is it really a great place. neighborhood, on a busy street, next to commer- cial property, or in a boarded up war zone.) Then Don will be presenting this at the Find It Fund It Fix It you can find comps, get exact directions, and then and Flip It Event . See page 27 & 28 for Registration.Page 26
  27. 27. Find it, Fund it, Fix it & Flip ItJoin Pete and Don DeRosa on Saturday and Sunday Sep- want to buy one of those houses. (Remember, these aretember 18th and 19th for their renowned, Two-Day Find It, bank-owned. YOU can buy them!)Fund It, Fix It and Flip It Boot Camp and Bus Trip. Be sure to join us on the Tuesday preview with Pete sharesOn Saturday, Don will teach you where and how to find his contractor knowledge with investors and homeownersand evaluate the best properties in the market, so you can alike, teaching everyone how to put THOUSANDS OF DOL-make at least $20,000 on each deal. He’ll also share ex- LARS into your own pocket.actly what to say to get private money to fund all of your To register go to and click on Calendardeals, so you never have to go to the bank or qualify for a and look for both the Tuesday Meeting on the 14th & theloan (do you really want to try to get a loan in this market, Bootcamp and Bus Tour on the 18th & 19th.anyway?) We only have room for 50 people on the bus, so if you wantThen on Sunday morning, you’ll take a bus trip to 2 bank- to attend be sure to register as soon as possible.owned houses, where Pete and Don will show you the Saturday: 8 am to 6 pm Sunday 8:30 am to 5:30 pmspecific things they look at when they evaluate a house forpurchase and repair. You’ll get the perspectives of both of Early Bird Pricing:these real estate investors (yes, they actually buy houses. $149 for Non-MembersThey don’t just travel around talking about it!) Then Sun-day afternoon, Pete will talk about rehabbing the houses, $79 for Memberswhat he’d do and how much it would cost. In addition Pete After September 16thwill go over the new EPA LEAD PAINT work practices to $199 for Non-Membersstop the spread of lead dust. $99 for MembersSo… you’ll walk away knowing exactly what to do if you Or use form on back page. Investment News Page 7
  28. 28. Limited Seating Register Now Sign-Up Form Title Name Sign up for: Price Address Find it Fund it Fix It Flip It Non-member Early Bird $149.00 Phone / Fax Find it Fund it Fix It Flip It Non-member Early Bird 2nd Person $149.00 Email Find it Fund it Fix It Flip It Member Early Bird $79.00 2nd Person 2nd Person Email Find it Fund it Fix It Flip It Member Early Bird 2nd Person $79.00Method of Payment Visa $199.00 Find it Fund it Fix It Flip It Non-member After Sept 16th Check MasterCard Find it Fund it Fix It Flip It Member After Sept 16th $99.00 Discover American Express Subtotal: Tax: Credit Card # Exp. date Total: Signature Email to or fax to 816-523-4448 Mail to: PO Box 8685, Prairie Village, KS 66208