Watch out for Appraisal Fraud, see Article on Page 20!   MID-AMERICA ASSOCIATION OF                                       ...
In This Issue                                      Real Estate Cycles                                      What Goes Aroun...
SERVICES THAT PUT PROSAND INVESTORS FIRSTWith our FIRST for Pro initiative, The Home Depot is takingEven better care of ou...
Mid-America Association of      Real Estate Investors     The only National REIA Chapter         in the Tri State Region  ...
LET US HELPKEEP PROPERTIES MARKETABLEKeep Costs Under Control & Meet Tight DeadlinesDedicated to your Success, With Soluti...
In getting ready for the Rehab Workshop I am going to be       Rehab  teaching on the 16th, I pulled out my outline from t...
 PRIVATE LENDER, not broker The best place on the entireplanet to buy kitchen cabinets.    No income, asset or employmen...
hy are you Failing          W                                   ial Media M arketing           at Soc                     ...
my students, I ask them please not“like” my page, because when I reachmilestones I want to know that thoseare real-life fa...
MAREI’S MEMBER BENEFITS PROGRAM                                         YOUR MEMBER BENEFITS                          AT-A...
Other Discounts                           Member Service                                          We have several services...
E ssential Clauses        . . . Bi ll Bronchick  Congratulations! You just purchased that new home          tain for closi...
Offering a range of flooring    options to give wholesale    pricing and discounts to    trade professionals.             ...
WELCOME NEW & RETURNING                                     MEMBERS!   Renewing                                           ...
(Continued from page 9)                                                       (Continued from page 12)                    ...
A Professionally Managed Real Estate                                                               ell at   Auction offers...
Collecting                                                                                  Rent                          ...
ve      W H Y E V E RY                                                     See Eddie Speed Li                             ...
My new Client:                                       the FBI!                        Donald Gossman The Case              ...
asked if I would call the other appraiser    She replied, “You are an agent, aren’t         The realtor could not say he w...
(Continued from page 21)                                                                     the right choice when I calle...
ing their interest in the property that they   U.S. Attorney, lead my questioning. She     The third lawyer even talked ab...
2220 & 2222         $19,500    1/1       INDEPENDENCE CASH Christoph Becker          S Arlington                    2/1   ...
MAREI Member PropertiesMAREInet.com/Properties          6005 E 93rd St     $76,400    4 Bed      2 Houses on 3 acres in-  ...
Weather you are Buying and Flipping, Buying to Hold for Rental or just offering Properties for Whole-sale, you will want t...
March 2013                       Monthly Meetings                               KC North:                             5:30...
Subscribe & Sync                                                                                     MAREInet.com/Calendar...
March 2013 newsletter
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March 2013 newsletter

  1. 1. Watch out for Appraisal Fraud, see Article on Page 20! MID-AMERICA ASSOCIATION OF REAL ESTATE INVESTORS Investment News NETWORKING : EDUCATION : COMMUNITY : GOVERNMENT March 2013 M A R E I’S M E Y M O B U A E R R T M B -A E E M P N B E a -G E FI ge R T S B L E 10 P A N R E O N F G IT R C S A M E
  2. 2. In This Issue Real Estate Cycles What Goes Around 6 Comes Around Social Media Marketing 8 Why are you Failing? Real Estate Contracts 12 Essentiaal Clauses Auctions Absolute Auction in April—How 16 they Work! 18 Collection Getting Your Rents 20 THE FBI My New Client 18 Collection Getting Your Rents Every Issue 10 Benefits at a Glance 14 Membership 14 Membership 24 Investment Opportunities 26 March Workshop: Rehab 23 March Monthly Meetings 24 Monthly Calendar FREE Gift for MARCH Meeting Attendees @ Check out our Website MAREInet.com Personal Real Estate Contact us by Phone Investor Magazine 913-815-0111 March / April 2013 Email US Special Feature Section info@MAREInet.com NoteWorthy Guide to Join The Conversation Profitable Investing in MAREInet.com/Blog Real Estate Notes Join Association MAREInet.com/MembershipPage 2 MAREInet.com
  3. 3. SERVICES THAT PUT PROSAND INVESTORS FIRSTWith our FIRST for Pro initiative, The Home Depot is takingEven better care of our best customers. FAST IN AND OUT Time is money — we’ll get you back to work quickly.  Dedicated Pro Desk Associates.  Two hour advance order pulling. In Store Hands On—How To Workshops Want to learn How a project is completed. Check out our workshops.  In store workshops each month, check out our website and your local store.  Access step by step video 24-7 on our website—look for our Project Guide Library 10% Price Guarantee If you find a lower price on identical in-stock item  We will match the price & beat it by 10%.  Excludes special orders & bid pricing and others—see website for complete details. GREAT PRICES JUST FOR PROS We Offer everyday low prices, plus more ways to save on larger orders.  You can count on competitive pricing on everything in every department  Volume pricing discounts available on purchases as low as $2,500.  Instant bulk price savings available 1000s of items. SPECIAL DISCOUNTS FOR MAREI MAREI members receive special discounts at The Home Depot nationwide.  Two percent rebate paid twice a year on all purchases made through all registered accounts.  Twenty percent discount on selected paint brands.  Exclusive to members of National REIA. EXCLUSIVE PROJECT ESTIMATOR APP Coming in 2013, the Home Depot Project Estimator App for iPad, a business changing tool for National REIA Chapter members nationwide. Watch your local REIA Chapter for Investment News Page 3 more information.
  4. 4. Mid-America Association of Real Estate Investors The only National REIA Chapter in the Tri State Region Serving KS, MO & NE Honor’s of Merritt Winner National REIA Contact Information Awards of Excellence 2011 & 2012 PO Box 8685, Prairie Village KS, 66208 Phone: 913-815-0111 Email: info@MAREInet.com Read Newsletter Online Anytime MAREInet.com/Newsletter 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 Connect with us Online and networking opportunities as well as community, legislative and public relations. LinkedIn Group: Kansas City Real Estate Investors Legal Disclaimer MAREI 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, employees and contractors. Each individual should consult Facebook Page: his/her own counsel, accountant and other advisors as to legal, tax, economic, investment and related matters concerning real estate and other investments. Kansas City Real Estate Investing Content Disclaimer Facebook.com/Groups 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. Kansas City Real Estate: /kcrei/ Mid-Missouri Real Estate: /MidMo/ Advertise in the Investment News Omaha Real Estate: /OmahaRE/ Rate Schedule Topeka Real Estate: /TopekaRE/ Size Non-Member Member Business Associate Wichita Real Estate: /WichitaRE/ Full Page $175 $140 $115 Special Groups Facebook 1/2 Page $145 $105 $85 KCMO Water Dept Issues: /badbilling/ 1/4 Page $75 $65 $50 1/8 Page $55 $35 $25 MO Creative Finance Legislation Find us on Twitter 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 @MAREInet 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 Tweet #KCREI page or full page lay-out. Opportunities also exist for advertising on www.MAREInet.com. Call 913-815-0111 for more information. Email ad copy to info@MAREInet.com. Mail payment to MAREI, PO Box 8685, Prairie Village, KS 66208 or request an online payment for to use credit or debit card.Page 4 MAREInet.com
  5. 5. LET US HELPKEEP PROPERTIES MARKETABLEKeep Costs Under Control & Meet Tight DeadlinesDedicated to your Success, With Solutions for Every Surface & All the Essentials National Account Services LEED® & VOC Coatings Color Services Flooring Products & Installation Our strategic account teams can Download the latest guide on Find out about our color design simplify processes and maximize our products that meet LEED® services for properties and read Wide variety of name brands, efficiencies with centralized and low VOC specs. about the latest color trends. 24-hour turnaround and reliable account management. installation. Commercial Wallpaper Commercial Floor Coverings HomeScapes® Finishing Touch™ Builder Support Program Sherwin-Williams is your From carpeting to sheet vinyl, Enhance curb appeal and make one-stop source for commercial select the right floorcovering selection easier with pre- Comprehensive Program for wall covering. Over 5,000 specific to your needs. Fully selected exterior color schemes. your Home Buyers: Welcome residential and commercial stocked national network, fast Kits, Discount Cards, and Model wallpaper collections available. turnaround and reliable service. Home Programs. EXCLUSIVE MEMBER DISCOUNT MAREI as a member of National REIA is able to bring our members the exclusive Sherwin William Discount Card that offers unbeatable savings on paint, applicators, floorcov- ering, paint sundries, wall covering, spray equipment, and even window treatments! Members look for your discount card in your members Benefit Package or download from the Member’s Dis- count Section of the MAREI Member Library. ASK SHERWIN WILLIAMS Find out more about all these products and services offered by Sherwin Wil- liams plus their Chip It Online Color Matcher, ColorSnap Studio for iPad and their Paint Pro Alerts by Text at www.Sherwin-Williams.com . Investment News Page 5
  6. 6. In getting ready for the Rehab Workshop I am going to be Rehab teaching on the 16th, I pulled out my outline from the last The items that need to be fixed on the houses has been few times I taught the class and I have found that over fairly consistent over the years. We have seen that prices the years, the workshop has changed to the point that I on a some of the high end items has came down, allowing think we are almost back to the original version in some us to put granite counters in much more often, and our cases and still finding a new perspective on others. colors might be a bit different. Finding Deals However, you do need to have your exit strategy in mind On the first time around as well as for most of the other when determining what to fix. You need to decide if you times the workshop has been taught we focused on find- are fixing the house to be a rental for a few years. If you ing bank owned REO properties. This was easy as you are fixing it to retail it or, maybe, fixing the hard stuff and could have a Realtor pull up a list, go look at them and leaving the easy stuff for the bargain shopper. buy them in a fairly short time. The competition for Bank Funding for the End Buyer Owned homes, the really good ones has always been fairly aggressive and I have been known to bid more than Way back when I started we did not have a lot of options list price in an effort to acquire a property. But today, we for the buyers: conventional financing with 10 to 20% see banks foreclosing less and homeowners as well as down and in a very few cases FHA financing. So back in investors fighting for the properties, making the REO the early days we did learn a lot about Lease Options and route very tough. Contract for Deed. Fast forward to 2007 and 2008 and just about anybody who could sign their name could get a Todays, investor has to work a bit harder to find the best loan to buy a house with up to 105% financing. . . CRAZY! deals from the REO agents, as well as the local whole- sale investor, and even their own marketing campaigns to Then the housing bubble burst, in part due to all the crazy get the sellers calling them. sub-prime lending and we went back to needing 10 to 20% down on conventional and 30% down on investor Funding the Deals purchases. The highlight was that FHA continued to crank When we started with this workshop, there were not a lot out loans, although, this time they had lending standards of avenues to fund a purchase and rehab. Most people to meet. either had an abundance of cash, had a home equity line When we add in all the people who lost homes to foreclo- of credit or might have found some local bank willing to sure over the past few years, we end up with a huge class fund the purchase and rehab. Fast forward to 2006 and of people who are good qualified buyers, but because of 2007, we talked a lot about Private Funding and Hard the foreclosure or short sale, cannot currently get financ- Money or Rehab Lenders who would fund purchase and ing, this brings us to offering Seller Financing to get our rehab up to 65 to 70% of the rehab. In the slow years of buyers funding. 2010 to 2012, the banks just stopped lending and most hard money / rehab lenders stopped lending. Banks Anyway you slice it, Real Estate is closed out lines of credit and we were left with only our always changing and there is never own cash or private lenders. a dull moment! The cycles go up and down, the key is to be able to As I brush off my notes, I can tell you that the local banks adapt as the markets change. are coming back with rehab funding as well as the Hard Money Lenders. There are more people at the REIA I can’t wait to see a few of meetings letting you know they have funds to be your you at my Rehab Work- private lender and even a few banks are back in the mix shop on Saturday March of offering funding for purchase and rehab. 16th. —- Donald TuckerPage 6 MAREInet.com
  7. 7.  PRIVATE LENDER, not broker The best place on the entireplanet to buy kitchen cabinets.  No income, asset or employment verification  Quick Approvals and Closings We Have The Best Prices  Interest Only Payments, during loan term Everything Is In Stock  Closed & Titled in LLC, Corp or Partnership  No Pre-Payment Penalties or Hidden Fees We Ship Fast CALL US FOR Free Design Help  Transactional Funding - 24 Hours or less  Flex Funding - 2 days to 6 months www.CabinetGiant.com  Rehab Loans - 100% of costs up to 70% ARV Josh Burns Donald Tucker : 913 -890 -FUND (3863) 913-890- 1-877-484-4268 www.InvestorsChoiceFunding.com Don@InvestorsCF.comwww.CoffeltLandTitle.com ASSET PROTECTION For title, escrow, INSURANCE AGENCY 1031 & foreclosure.  REO Insurance  Forced Place  Vacant Property  One Policy All Properties  Monthly Billing Bud Whisler www.APIA Protects.com 816-380-3441Investment News Page 7
  8. 8. hy are you Failing W ial Media M arketing at Soc Duncan Wierman Real Estate Investor Internet MarketerHow You Can Fix It : impression, so can failing to follow simple10 Reasons You Will Never Generate A Lead Through Social social media etiquette.Media I always recommendThere are tons of articles on the subject of social media that you establish at least a month of social participationand how its being used to generate leads. Many people on social networks before promoting a business agen-are saying that they are not getting results. When I teach da. But most importantly you need to understand thesocial media marketing to students, I teach them that it is harm in spamming. Nothing will degrade your sinceritynot a one-size-fits-all-instant-cure and I don’t hype social and ‘friend’ value quicker that thoughtless self-promotionmedia is the be all and end all to generating leads. in the public forum.1. Understand what Social Media really is. 3. Your Audience Is Limited.You’re working so hard to find “leads” that you can’t see Many people are getting caught up in a numbers game;the forest through the trees. Everyone that you come in measuring their success by how many followers/fanscontact with isn’t a lead, they’re a human being and they they have compared to their competition. It is so com-want to be treated like one, not as a potential stack of mon- mon to see real estate investors pitch themselves in In-ey. Social Media is about building relationships. If vestor centric groups and fan pages.you’re not looking to build relationships, then The result of this is that these same investors also fol-you shouldnt be participating. low a huge amount of other investors, hoping for them to2. You Don’t Play By The Rules. return the favor…and they do. But what good is that?There are social etiquette rules. The same way that not Investors are the last people you want following yoursmiling while extending a hand to shake upon meeting professional activities because they skew your results. Isomeone new can ruin your chances of making a friendly make a particular mention, when I use my own efforts toPage 8 MAREInet.com
  9. 9. my students, I ask them please not“like” my page, because when I reachmilestones I want to know that thoseare real-life fans that I have a chanceof doing business with.If you are doing your job correctly,then your content should be very unin-teresting to investors outside of yourgeographic area, anyway. There is theexception where you are recognizedas ‘doing it right’ and other peoplewill follow you as a great example. Inthis case you may not be able to stopthe movement, and it could help boostyou to a larger than life status. In themeantime, just try to keep the groupsseparate in your head and don’t beafraid to delete agents who try to butt-in on the conversation. You workedhard for it, they didn’t.4. You Must Keep A Line Between Per-sonal And Professional.Your Social Media feed includes pic- out that they have a one track mind. just go back to posting the data ontures of you overindulging at a party your personal account and everyone, 6. You Haven’t Figured Out That Real Es-last weekend, an abstract thought or including your spouse decides to hide tate is Boring.quote that means nothing to anyone, you from their feed. Instead, considera blog post about buying a home, a Instead, consider creating a page around your creating a page around your niche in“checked-in” at McDonald’s, your high niche in event of interests to that niche.You which you discuss not only real es-scoring Scrabble word. If you did take the advice to create a fan page tate, but local news, pictures, facts,have any chance at success it was and but then you go and name it and events of interest to that niche.ruined when you sat down in front of “John Doe, Your Chicago Real Estate Try promoting other local FB pages’the keyboard and spammed your Expert. You then proceed to post all of activities, include some local picturesfriends with business and exposed your listings without the benefits of and fun facts, and then sneak in ayour personal life to your business why they are good deals. This fol- real estate article or two.contacts. On Facebook the separation lows with the frustration that no one 7. You Dont Responsd.is simple (and demanded by FB terms joins your page and so you decide toof use): Keep your friends on your re-re-re-suggest the page to your When people are connecting with you,Personal Profile and create a Fan friends. When they still don’t join you (Continued on page 15)Page for the “Business You”.5. Remember The Golden Rule. Guest SpeakerYou can’t expect others to help youunless you’ve taken a moment to help Realty 411’s Mid-West Expothem. Or, if you prefer “treat others asyou wish to be treated”. The Saturday April 20th“Gimmees” of the world don’t last longwith social media once people figure Details: www.MAREInet.com/411 Investment News Page 9
  10. 10. MAREI’S MEMBER BENEFITS PROGRAM YOUR MEMBER BENEFITS AT-A-GLANCE USE THIS PAGE AS A GUIDE TO VALUE ADDED DISCOUNTS TOOLS AND SAVINGS CREATED JUST FOR YOU ON GOODS AND SERVICES YOU USE EVERY DAY.Landlord Services Suppliers News & Information E-Update MAREI’s award winning weekly email update with what’s happening in real estate including properties for sale, gov-Screening for tenants & workers with ernment affairs and local market data. 20% discount for members. Learn how to save money at Home De- pot and register for a 2% Rebate for all Investment News purchases & rentals across the US. FORMS & DOCS Plus 20% Discount on Paint in Kansas The award winning newsletter for Mid-Member Library is packed with forms City. And coming in 2013 the New America Association of Real Estate In-and docs, plus 15 % discount at EZ Home Depot App for iPad exclusively for vestors: published monthly and distrib-Landlord Forms for premium forms. Chapter Members to use in project esti- uted both in print at our meetings and mation on home repair and remodel. digitally to our database of over 5000 people. One of the best ways to get your message in front of a targeted group of real estate professionals.Market your rentals on the nations topranked rental site. Member discount All members receive a discount card is 20% off Regular Prices. to access our exclusive discounts up to 40% off all paint, supplies, and flooring—nationwide.Office Solutions Marketing Free issues of both magazines available at the monthly meetings of MAREI.Save on select FedEx Office copy andprint services up to 20% and on Fed- Ex Shipping up to 22%. Websites for investors, landlords, and other services. FREE trial.Receive discounts up to 65% on over 12,000 products you use the most online and in store. Email and Social Media Marketing, Free Trial and Discounts for paying in ad- vance.Page 10 MAREInet.com
  11. 11. Other Discounts Member Service We have several services as part of our website to help you grow MAREI’s Political Advocacy Group your business. actively monitors national legisla- tion and rule-making that im- pacts the real estate industry and harnessing the strength of MAREI Nearly 70% of QuickBooks users say members at the grassroots level.that it makes their business more prof- itable. Get your Accounting on track. Buy at a 20% discount our special MAREI mem- links from the MAREI Web Site. bers also re- ceive timely Calls to Action REAL ESTATE BOOKS Calendar of Events to stay up to when there is a date with all of our activities. The nation’s largest provider of time for our real estate training materi- members to als, DEARBORN is America’s take action on Premier Real Estate Publish- an important vote. er. Members receive up to 40% off. Members also have access to the latest Browse the member properties to in Market Da- find your next deal. Take the ta. time to post your investment op- portunities for other members Special member discounts for and site visitors to browse. members at Avis, Budget, and Enterprise Rentals. VISIT ww.MAREInet.com The Member Library is packed Look under Resources & and ever growing with pdf ver- Members Only The Local Market Monitor tracks real estate sales and economic sions of entire books, EBooks, trends nation wide. Offering Articles, Forms, and Documents. 25% Discount for Members. Investment News Page 11
  12. 12. E ssential Clauses . . . Bi ll Bronchick Congratulations! You just purchased that new home tain for closing. If the buyer is not ready to close, the study course. You followed the instructions. You seller can hold him in default. Here are some tips for found a good deal. You present your contract to the buying time: Make the closing date “on or about” June listing broker, and you get laughed at! 1st. What does “on or about” mean? I’m not sure, but The reality is, real estate brokers dont like "seminar" it certainly means LATER than June 1st! Have the forms. They are comfortable using the "standard" right to extend the closing date if it is not your fault: agreement, although the standard agreement is usu- “Said date may be extended an additional fifteen (15) ally drafted to protect the real estate broker, not you. days if lender requires additional documentation, pa- You must learn how to take any "standard" agree- perwork or actions from the buyer and said delay is ment and modify it to your liking. not due to the fault of the buyer.” The following are some essential clauses I use when Have the right to extend for thirty days by paying the buying a property: seller the equivalent of one month’s mortgage pay- “And/or assigns” or “and/or Nominees” - As the ment. buyer, you want to have the right to assign your con- Limited Inspection Clause - Most standard broker tract. By placing your name with the words, “and/or contracts give the buyer the right to make the contract assigns,” you automatically give yourself that right. contingent upon the right to do a thorough inspection The words, “and/or nominees” is not as broad, but it before a certain date. Make certain that the inspection has been interpreted as giving the buyer the right to period is short and that the inspection must be done place title in the name of a trust. by a licensed (if they are in your state) professional NOTE: If the contract contains an "anti-assignment" inspector. Limit objectionable items to roof, plumbing, provision, you must cross that clause out. electrical, heating and structural defects. An open- ended inspection clause will permit the buyer to Inspection Clause - Have the right to make the con- "weasel" out of a contract because the garage door tract contingent upon your right to do a thorough in- squeaks. spection before a certain date. Make certain that you are not required to hire a professional inspector and Choice of Escrow Company - As the seller, I insist that the inspection clause permits you to cancel the on the right to choose the title or escrow company so contract if there are things wrong with the property that I remain in control. A conservative or uncoopera- and the seller is not willing to fix these or reduce the tive escrow or title company can make life very diffi- price. cult if you are trying to do a creative deal. Choice of Escrow Company - As the buyer, insist Qualification of Buyer - The most important thing to on the right to choose the title or escrow company so keep in mind when selling is that time is money! The that you remain in control. A conservative or uncoop- single biggest mistake sellers make is allowing an un- erative escrow or title company can make life very qualified buyer to tie up their property under contract difficult if you are trying to do a creative deal. (Continued on page 15) Right to Extend - Most contracts call for a date cer-Page 12 MAREInet.com
  13. 13. Offering a range of flooring options to give wholesale pricing and discounts to trade professionals.  Residential Full service construc-  Commercial tion company offering  Renovation upgrades, curb ap- peal, remodel, or  Demolition complete renovation.  Flatwork ProSource of KC West  Foundations Call for References! 7228 W. Frontage Road Robert Massey Overland Park, KS 66203 Building Trades 913-599-4488 816-868-1817 accurate Accurate Closings: Smooth, Timely, Professional. SHOWHOMES ADDS VALUE TO VACANT HOUSES BY:Title Services Provided for: FSBO, Wholesale, & REO Transactions New Construction Closings Commercial Purchases and Refinance All Types of Loan Closings 1031 Exchanges  Transforming vacant houses into valuable, cared-for homes FHA, VA, USDA, Conventional Loans, and that buyers respond to. Hard Money Loan Closings  Keeping each home in show-to-sell condition seven days a Refinance & Reverse Mortgages week.  Employing a professional decorator to decorate each home Doc Prep, Prelim HUDS, Curing Issues using proven staging techniques, maximizing its appeal to Short Sale Closing & Assistance buyers. 100 Years of Combined Service!  Hiring carefully screened and qualified Home Managers to live in and manage each home throughout the sales process. www.AccurateTitleCo.com www.ShowHomesKansasCity.com 913-338-0100 phone 913-227-4364 Investment News Page 13
  14. 14. WELCOME NEW & RETURNING MEMBERS! Renewing New Members  Day Boswell (since 2010): Overland Park, KS  John Baska: Parkville, MO  Michael Bryant (since 2011): Lee’s Summit, MO  Lukas Bohannon: Columbia, MO  Kim Donaway (since 2007): Mission, KS  Chelsie Dillon: Kearney, MO  Brett Hoover (since 2012): Independence, MO  Susan Ellis: Kansas City, MO  Nancy Hoover (since 2012): Independence, mo  Vinay Gaws: Lees Summit, MO  Paul Redmond (since 2008): Kansas City, KS  Shaun McBride: Kansas City, MO  Tom Smith (since 2011): Lees Summit, MO  Bill Mikkelsen: Gladstone, MO  Gary Swaney (since 2010): King City, MO  Bill O’Connor: Kearney, MO  Mary K Swaney (since 2010): King City, MO  Kevin Otterman:  Tim Stauffer (since 2009): Kansas City, MO  Brian Rigby: Rogersville, MO  Victoria Roberts: Kearney, MO New Business Members  Cindy Stockton: Kearney, MO John Shaver – Pro Source KC West: Merriam, KS Hanna Kinsey – Pro Source KC West: Merriam, KS Robert Massey – Building Trades: Kansas City, MOPage 14 MAREInet.com
  15. 15. (Continued from page 9) (Continued from page 12) Rather than coming up with a for two months. Do not believe anyemail, DM, PM, or comment you claims of the buyer, his agent or mort-don’t respond promptly, or at game plan of who your audience is gage broker about their ability to quali-all. This leaves the impression and what they want to experience, fy for a loan. You should know exactlyidea that you’re not interested in you simply start a fan page and what the qualifications are for an FHAfostering a relationship. We live in begin mimicking what youve seen or FNMA loan in your area and qualify done by other investors. There is the buyer yourself.an instant gratification society andfailing to respond to an online re- nothing wrong with following other I use the following clause:quest within a reasonable amount real estate investors who are great "Within 48 hours, buyer shall providetime (as defined by the other party, examples. The challenge howev- seller with buyer’s complete financialnot you) will cost you business. er, is that most are poor examples and credit information for seller’s ap- and nothing but a loss for your proval. Within 72 hours after receipt ofFortunately, FB has just started to such information, Seller may terminatenotify fan page admins of wall time investment. Stop paying at- this contract and refund buyer’s ear-postings in addition to comments, tention to online chatter and spend nest money if, in seller’s sole opinion,which had been a problem for more time working on your own buyer does not have the creditworthi-many that didn’t check their page content. Figure out who your au- ness to qualify for a loan from a third dience is and what it is that they party. Seller’s decision and opinion(s) at least once in the morning shall be final in this regard, and buyerand evening. So no excuses! want you to talk about. shall have no further recourse after return of this earnest money deposit."8. You Chase Your Tail. 10. You Don’t Care that Everyone Can Tell That You Don’t Care. NOTE: Be certain you do not engageYou’ve got the same 10-100 peo- in illegal discrimination in rejecting aple who are subscribed to your You forget your login/password buyers credit worthiness.blog, following you on twitter, because you never login to your Permission to Contact the Lender -and liking you on Facebook and sites. You probably got inspired to I hate being in the dark! I always want start with social media, and you the ability to control the entire loanmost of them are close friends and process and be able to get informationfamily that didn’t want to hurt your took some steps to build your from the lender along the way. Thefeelings. They either ignore your online presence. You create an buyers lender wont talk to you direct-content or participate just to boost account on Facebook and Twitter, ly, without express written permissionyour ego. Either you get the hard put links up to these accounts on of the buyer.truth, or you end up fooling your- your website(s), break rules 1-9 To remedy this problem, insert theself that you’ve got great content and then setup an automatic pro- following clause:and an attentive audience. If you gram to post your blog feed to your "Buyer hereby gives express permis-aren’t reaching a new, broader au- account. Predictably, you forget sion to all parties, including lenders, your login/password because you employers, financial institutions, creditdience, you need to consider a few agencies, mortgage brokers and realthings: Perhaps your message is never visit either again. Anyone estate agents to release any appropri-missing the mark or just plain unin- that happens to stumble across ate financial information to the seller."teresting. Or, maybe you just need your message sees the tumble- Now you can take control, get on theto raise the bar and market the weed rolling across the ig- phone and scream "Whats holding uppage more effectively to find a nored prairie and exits via the back this lan!"larger audience. button and on to your competition’s account.9. You Spend All Your Time Lookingat Others.Investment News Page 15
  16. 16. A Professionally Managed Real Estate ell at Auction offers so many benefits to real es- hy S tate owners and buyers that traditional methods of marketing simply can’t provide. W ction? More Real Estate is SOLD at Public Auction Au today than ever before and here are Several Reasons Why: 1. Real Estate Auctions guarantee a Sale Date, a Price and a Closing Date. Traditional marketing methods offer no guarantees. 2. Real Estate Auctions don’t set a maximum price for your property. 7. Real Estate Auctions offer scheduled viewing 3. Real Estate Auctions will often generate a and tour dates. higher price for your property than it would have sold for using traditional methods of 8. Real Estate Auctions eliminate any marketing because of competitive bidding. contingencies and the need for inspections. 4. Real Estate Auctions compel buyers to 9. Real Estate Auction marketing promotes your participate and buy on a specific day. property on a national level which exposes your property to many more qualified buyers 5. Real Estate Auctions create excitement, increasing competition and prices. urgency and competitive buyer participation for your property, which results in success and a Real Estate Auctions work when the client wants higher selling price. to sell their property in the shortest time, at the highest price with terms and conditions favoring 6. Real Estate Auctions eliminate the hassle of the seller. negotiations and counters on everything except the top market price for your property.Page 16 MAREInet.com
  17. 17. Collecting Rent Promissory Notes Getting your rents . . . A conversation with a legal and binding agreement, but they signed it couple of MAREI members. quite a while ago and the recent signing of the promissory note will remind them. At the monthly meeting in January, Debra Felderhoff mentioned a method she uses to en- Second, the promissory note is something that sure that she gets paid when a tenant is going if not paid could be taken to small claims court to be late with rent. She said she learned this to receive a judgment, with out going through method from Brian Winberry, who is one of our and eviction process. hosts of the Weekly Wednesday Networking Third, the promissory note is also a legal docu- event. We took a few minutes to talk with Bri- ment that could be sold. A promissory note of an to get the low down. this type would not have a huge value if it is When a tenant calls to say they can’t quite resold, but it can be sold for a small amount. make rent on time, but will be able to make Brian’s method and Debra’s are about the the payment in a few days or a week, landlord same to this point, but Deb had one difference should then take the time to negotiate and that it is worth noting. Deb would make her write up a promissory note for the rent that promissory note a title loan that is secured by outlines the amount of rent to be paid, the late the title to the tenants car. Then if the tenant fees, when it is supposed to be paid and that if did not pay or move out, she could take their the rent is not paid, they will agree to move car. out. It is important to note that Debra with her al- This promissory note serves several purposes. most 100 rental properties has never had to First, it gets the tenant in the frame of mind take someone’s car. She has had people move that they owe the rent and late fees on a par- out and leave the property broom swept clean ticular date or that they will move out. They when they could not pay as the promissory have signed a legal document, the promissory note said, saving her the cost of eviction fees note. Now, it may be important to note they and allowing her to get her property rented up also signed your lease agreement that is also a quickly.Page 16 MAREInet.com
  18. 18. ve W H Y E V E RY See Eddie Speed Li St Louis Missouri REAL ESTATE INVESTOR MUST LEARN NOTES Saturday April 27th www.StreetREIA.com Or learn right now: eo < 500,000 REO’S NoteSchool.com/Vid IN USA MARKET W. Eddie Speed is Founder of NoteSchool. Since 1980, Eddie has dedicated his career to the science of 12 MILLION buying both Performing DELINQUENT and Non-performing Notes. MORTGAGES EXPO: Saturday, April 20th, 2013 Holiday Inn, Overland Park West Realty 411 PROPERTY TOUR: Sunday April 21st Register: Mid - West Expo Mid- MAREInet.com/Realty411 Real Estate Investing is has become one of the hottest trends FEW BOOTHS STILL AVAILABLE for entrepreneurs to make money. Attendance at real estate associations meetings is way up. Many of the Richest People in the Country, earned their wealth through Real Estate. Find out the reasons for this at the Expo. Join 200 or more local, national and international Investors at one of the Biggest Events in the Mid-West to learn:  How to Harness the Internet to Explode Business with Duncan Wierman, Internet Marketer Turned Real Estate Investor √ SAVE THE DATE  The “Power of Zero” for True Wealth with Chris McClatchey, Veteran Real Estate Investor & Coach √ REGISTER  No B.S. Insights to Entrepreneurship with Mike Conlon, √ BUSINESS CARDS Main Street Millionaire, invests in Mobile Homes & Turn Key  Why NOW is the Time to Invest in Kansas City Properties with √ INVITE A FREIND Marck de Lautour, local Kansas City Investor  Plus See & Be Seen with 200+ Investors, Learn from Expert Industry Service Providers and Tour Some of Kansas City’s Best Investments!Investment News Page 17
  19. 19. My new Client: the FBI! Donald Gossman The Case replied, “Let me grab another agent and we will see you in 20 minutes”. That was not the reply I was expecting. You might ask why a residential real estate appraiser from Kansas City has the FBI as a client. Many appraisers were I was at my office waiting for two FBI agents. I kept wonder- approached in the frenzy of the sub-prime mess to over val- ing what I have gotten myself into? They arrived at my office ue properties. To hit the number that the lenders needed. and I showed them the information that I had obtained. They We are finding the damage that this is causing our economy asked if I was familiar with the sellers’ names, which I was- and our country. n’t. The agents told me the seller’s dad was allegedly a made member of the mob. He was executed in the 1970’s On October 10, 2006 I received a phone call that changed and stuffed in the trunk of a car. This information grabbed my life and sent it in directions I could not have imagined. It my attention. They assured me not to worry about the son, was a sub-prime lender wanting to know if I appraised high- as far as they knew he was not a member of the mob. They end properties in the Kansas City Country Club District. I asked if I knew who his wife was, and I said no. They said I replied yes and quoted them a fee. I instructed the lender to might know her professional name, which they told me. I place an order on my website and to fax me a copy of the knew that name. She had been the Jackson County Execu- contract. I reviewed the contract for $1,473,000, and then tive for the last 12 years and was going to run for Mayor of ran MLS to search for comparables and the subjects listing Kansas City. history. The agents asked if I could assist them with their investiga- The MLS for the subject property showed it as an active list- tion. I told them I would. Next, they asked me to call the ing for $699,000. I called the lender and asked if I had the lender and tell them I would complete the appraisal. Then wrong address or if this was a construction rehab loan. I stat- the agents asked the million dollar question. “Would you ed, “Did you know this house was listed for $699,000?” The tape the conversation?” The moment of truth had arrived. If I lender said yes. I was told they were selling it for the higher said no, then they would leave and I would go back to ap- value, and if I wanted my fee I had to appraise it for that praising as if nothing happened. If I said yes, I might be the amount. They wanted me to jeopardize my reputation and 28 next person they find in the trunk of a car. years in business for $1,200. I declined the order and called the listing agent to warn her. The realtor noted she knew They pulled out a recording device and showed me how to nothing about the contract. The sellers had excluded this use it. They noted the date and time of the call, who was in buyer when she received the listing and were cutting her out the office, who I was calling and the case. I called the pro- of the commission. cessor and told her I would complete the appraisal. I tried to act normal when talking with her. I am a real estate apprais- I was enraged because I knew the mortgage system was er, not an undercover agent. broken and someone needed to act. I had attended the Ap- praisal Institute’s Mortgage Fraud Seminar the week before The Investigation and met an agent with the FBI, Julia Jensen. I decided to call After the agents left my heart was pounding. I tried to imag- and let her know what was going on so she could put the ine out how this might work out. They had left another re- property on a watch list. cording device to use while talking with the other people in- Agent Jensen called me back the next day. I discussed the volved in the transaction. I called the selling agent to sched- details with her about what was happening. She asked who ule a time to appraise the home, which we set up for the next the buyer was and I told her the names. She informed me Tuesday. I then spoke with the loan officer and processor to they were part of a mortgage fraud group operating in Kan- let them know the inspection had been set. The processor sas City and she would be interested in the information. She mentioned that the loan was over 1 million dollars so they also asked who the sellers were. I gave their names. She would require another appraisal in addition to mine. ShePage 16 MAREInet.com
  20. 20. asked if I would call the other appraiser She replied, “You are an agent, aren’t The realtor could not say he wasn’tand work together to make the apprais- you? You don’t have to go through it”. I there.als similar to pass underwriting guide- replied, “I am not an agent, I am an We went inside the house and thelines. Apparently, committing mortgage appraiser.” realtor told me this group was going tofraud was no big deal for them. We went to the interrogation room and buy between 40 and 50 homes in Kan-I called Agent Shaffer and confirmed discussed the conversations that I had sas City ranging in value fromthe time and date was set. He asked if with the various people involved with $1,000,000 to $2,000,000, and hisI could drop off the recording device to the transaction. Another agent came group was doing the same thing in 10him on Monday at FBI Headquarters into the room with a camera and took a different cities. They had money fromand trade him for a new one. picture of me. The agents asked if I overseas to invest and planned to rent would be a confidential witness and out these houses to executives. IMonday finally came and I drove to FBI gave me my code name. It all went so couldn’t believe it. This could possiblyHeadquarters. It was a three story of- fast I had no time to think about what be a multi-city international crime ring,fice building like any other, with excep- was happening. We set a time to meet not just one case of mortgage fraud. Ition of the 10-foot high iron fence, blast the next day before I was to complete finished my inspection, then left togate and video cameras at the front the inspection. meet Agent Shaffer. I described thegate. I pressed the button and told events that took place and gave himthem who I was meeting with and they Agent Shaffer and I met the next morn- back the recording device.buzzed me in. I walked to the front ing in the parking lot of a grocery store.door and was greeted by an armed He showed me a different recording Over the next three weeks, I tapedguard. She told me the agents were on device that took both audio and video conversations with people involved inthe way down. Once I spoke with the and how to use it. I drove to the house the transaction. I was doing my ap-agents, they asked me to come back to and the realtor was waiting for me. I praisal work at night and on weekendsthe interrogation room. As we walked took a picture of the front of home with since a lot of my time was spent work-past the metal detectors, I asked the him in the picture, and then took a ing on the case. I even began to worryguard if I needed to go through one. street scene with his car in the picture. (Continued on page 22) Hard Money is the Answer . . . .  Leverage available investment capital and triple your cash on cash returns. Property Management  Have the ability to close in 2 - 5 days.  Take down investment properties FAST. Section 8 Housing  Get feedback from an experienced lender who did KC Metro Wide over 150 deals last year.  Build cash-flow quickly and simply through real estate. Jeff Woods  Diversify your capital across multiple properties and spread your risk. Broker Private Funding for Serious Real Estate Investors www.MyPremierLeasing.com 816-849500 Christopher Friedl www.LonghornInvestments.com 214-202-3046 Investment News Page 17
  21. 21. (Continued from page 21) the right choice when I called Agent Jensen that first day. about my children’s safety. On my way home, I turned on the radio and switched channels The other appraiser called me and told me he was having a to talk radio. The announcer broke in with a news update. He hard time appraising the property for $1,473,000. He explained stated, “A Federal Grand Jury in Kansas City has handed that the highest he could get was only $1,200,000. I thought, down Mortgage Fraud charges against 11 people including the “You will over appraise it by $500,000 but not $743,000?” I Jackson County Executive and her lawyer husband.” When I guess he had partial ethics. We agreed to the value and com- arrived home I turned on the television. The charges were be- pleted the appraisals. ing reported on all of the local stations. I’ve always watched the news, but have never been part of the news. The FBI agents asked if I would drop off the appraisal to the mortgage company while wearing a wire. By this point, it The trial was set for February, but delayed until June after the seemed like the natural thing to do. I walked away from the election. The County Executive did go on to run for the mortgage company thinking my part was done and it was all Mayor’s office and received 1.5% of the Vote. The same day over for me. If only that was the case. her TV ads for Mayor debuted was the same day the mortgage fraud indictments were brought against her. Interestingly My life went back to normal. I had not heard anything for three enough, no one was talking about the buyers. The fed alleged weeks. On November 24, 2006, I received a phone call from that the buyers were part of the larger fraud team, which had the second appraiser. He asked, “Did you hear what was go- committed over 100 cases of mortgage fraud in the Kansas ing on?” I replied “No”. He said, “I received a call today from City area. Furthermore, the feds also alleged that in the prior the FBI and I have an appointment at 9 a.m. to talk to them 18 months, this mortgage fraud team caused millions of dollars about mortgage fraud.” I thought, “Sucks to be you”. I told the in losses. other appraiser thanks for the heads up. He asked, “What are you going to do”. I replied, “Tell them the truth; they know what In May, the Assistant U.S. Attorney contacted me to prepare is going on”. for the trial. We met with the two FBI agents at the U.S. Court House. We listened to the tapes that I had made which was Agent Shaffer called and told me the closing had tried to occur the first time that I had heard them. I can never explain the the prior Friday and they had stopped it at the closing table, at thoughts that were going through my head. “I AM AN AP- the title company. The FBI was interrogating the individuals PRAISER”. I am not supposed to be sitting in the Federal involved in the transaction. He asked me not to talk with any- Court House with the Assistant U.S. Attorney and two FBI one if they called. He informed me the Grand Jury was set for agents listening to tapes of myself and individuals committing January 4, 2007, and verified I could be there that day after mortgage fraud. But I was. The trial was delayed again until lunch to testify. November 2007. The Grand Jury The Trial I was contacted by the Assistant U.S. Attorney Linda Parker After the trial was postponed for the second time, the legal Marshall. She asked me to come in so she could describe the maneuvering started between the U.S. Government lawyers events that would take place in the Grand Jury Room. I meet and the defense lawyers. Seven people in the transaction with her and the FBI agents at the U.S. Courthouse in late De- pleaded guilty to the charges against them, and four people cember 2006. It was finally sinking in that this was really going were left to be tried. I was the lead witness in the U.S. Govern- to happen. I was hoping for a lot of guilty pleas so I wouldn’t ment’s case that was expected to last two weeks. have to testify, but that would not be the case. The jury was to be seated on Monday morning with opening The date arrived. I went through my morning like it was any statements to be made late in the morning. The U.S. Attorney other day. I completed two inspections then went home to put asked me to be at the Federal Court House at 1 p.m. on No- on a suit and tie. I wasn’t hungry for lunch for some reason. I vember 6, 2007. I showed up during the lunch break and found drove to the court house and parked in the FBI lot where out the jury had not been seated thanks to publicity the trial Agent Shaffer had instructed me to. I took a deep breath and had received which led to larger than normal numbers in the said to myself, “Let’s do this”. I walked into The U.S. Court- jury pool. I sat waiting in the witness room for four hours. The house knowing if the Federal Grand Jury believed me, they jury was set and the opening arguments were made. The would hand down indictments on 11 people and charge them judge said, “That is enough for today. We will reconvene at 9 with Federal crimes. a.m.”. I walked out of the court house with everyone else. No I waited for almost an hour until Mrs. Marshall came to get me. one knew how the trial would play out. I walked into the room and told my story. I cannot reveal any- The investigation had been portrayed by the local media as a thing about what happened in that room or the people that political witch hunt by the new U.S. Attorney office against a were there. This was our government working at the basic lev- local politician. I knew nothing about that. All I knew was el of the criminal justice system. I was in there for about an someone tried to defraud a lender, and I did my job by protect- hour and then left. I walked out to my car knowing I had madePage 22 MAREInet.com
  22. 22. ing their interest in the property that they U.S. Attorney, lead my questioning. She The third lawyer even talked about how Ihired me to appraise. They were buying asked me my name, address and occu- had such a good reputation and couldinflated values not appraising houses. pation. She then asked me to describe not have been involved in mortgage how I became part of the case. When I fraud. I replied, “They called the wrongI was back in the witness room the next was explaining the events that unfolded appraiser to commit mortgage fraud thismorning feeling confident knowing I was over the course of many months, I could time”.going to tell the truth. After walking hear the reaction from the audience. Itdown the hall to get a drink, I heard the After four hours on the stand, my part of seemed they were surprised by the ac-Judge say, “Mrs. Prosecutor, call your the trial was complete. The trial would tions that I had taken. There is no wayfirst witness”. go on for another eight days. The jury that I could ever have imagined how deliberated for four days and came backThe courtroom doors opened and I things would play out. After almost two with two guilty and two not guilty ver-walked inside. I felt all eyes in the room hours, the prosecutor was finished with dicts.follow me on my way to the witness my questioning. The judge called for astand and while I was being sworn in. 15 minute break, which I was ready for. The mortgage and financial markets areOnce seated, I looked out over the They didn’t make the witness seat for a mess. The industry made it throughcourtroom. To my right were the 14 ju- comfort. the high interest rates of the earlyrors, 12 on the jury and 2 alternates. To 1980’s, the recession of 1991, the first The break was over and the first de-my left the U.S. Federal Judge and the and second gulf wars and the effects of fense lawyer questioned me for over ancourt reporter. At the defense table were 9/11. hour. His questioning was the toughestthe four defendants, their three lawyers as he was questioning MY ethics and We need the separation of the origina-and three assistants. At the prosecutors the motive behind my actions. He tried tion of mortgages from the valuation oftable were two FBI agents, two Assis- to rattle me and succeeded on a few the properties. Enforcement of nationaltant U.S. Attorneys and their support occasions. The judge warned me twice and state laws. Prosecution of fraudu-staff. There were four rows of seats for to limit my answers to the questions lent lenders, insurers, bankers, brokersthe public. The newspaper, TV and ra- asked. The second lawyer only asked and appraisers. We, the mortgage busi-dio stations from the all across the Mid- me two questions and I was done. The ness, need to rebuild the trust in ourwest were in the audience. third lawyer was less aggressive to- banking and mortgage systems.Linda Parker Marshall, the Assistant wards me compared to the first lawyers. Insurance for Vacant Properties Rehab Properties Renter Insurance for Your Tenants Business Insurance Property Management Umbrella Liability Rental Services Health Insurance Kansas City Metro Life Insurance www.JamiesonHomeTeam.com www.MOFB.com Kevin Jamieson Stephanie Cunliff 816-503-4671 816-781-4370 Investment News Page 19
  23. 23. 2220 & 2222 $19,500 1/1 INDEPENDENCE CASH Christoph Becker S Arlington 2/1 COWS!!! 2 HOUSES for Blueprint Properties, Inc Independence, MO the PRICE of 1 only BlueprintPropertySoltions.com $19,500 (816) 419-1165 5443 E. 29th Ter. $9,000 4 Bed 4bdrm 3bath FIXER UP- Christoph Becker Kansas City MO 3 Bath PER with New Vinyl Sid- Blueprint Properties, Inc ing and a Good Roof 64127 BlueprintPropertySoltions.com (816) 461-8299 2908 E 25th St $11,500 3 Bed Large 3bd 2 bath Fixer Christoph Becker Kansas City, MO Fixer 2 Bath Upper in East Kansas Blueprint Properties, Inc City – 2908 E. 25th St. 64127 BlueprintPropertySoltions.com 64127 (816) 461-8299 30 Metro Proper- Absolute Various A Portfolio of 30+ Brian Rigby ties Auction Properties Selling BARigby.com Absolute—April brian@barigby.com 19th 417-753-7653 7501 E. 52nd Terr. $22,500 4 Bed 4 bdrm CASH COW in Christoph Becker Kansas City MO Needs TLC 1.5 Ba KC MO 64129 only $22K Blueprint Properties, Inc NET ROI 24% 64129 BlueprintPropertySoltions.com (816) 875-6266 6638 Indiana ave $13,000 2 Bed Cheap Rental Near The Chad Barlett Kansas City, MO Fixer 1 Bath Zoo Home Remedy Invest. 64132 HomeRemedyKC@gmail.com 913-735-5598 2809 NW 3rd Tr $66,000 2 Bed Newer Home in Blue Barry Hudson Blue Springs, MO Turn Key 1 Bath Springs in HOA Realty AQ Barry.Hudson@RealtyAQ.com 816-284-8754 12002 Alberta St $24,500 2 Bed Need Cash Buyers for 2010BWG Sugar Creek, MO 1 Bath my 2 Bed Home! Call KCPropertiesSite.com Today 816-974-8404 1915 N. Allis St. $14,500 2 Bed Kansas City KS Fixer Christoph Becker Kansas City KS Cosmetic 1 Bat Upper – Needs Cosmet- Blueprint Properties, Inc ic Updates 66101 Fixer BlueprintPropertySoltions.com (816) 875-6266Page 24 MAREInet.com
  24. 24. MAREI Member PropertiesMAREInet.com/Properties 6005 E 93rd St $76,400 4 Bed 2 Houses on 3 acres in- Paul Panos Kansas City, MO 2 Houses 2.5 Bath side redevelopment district PremierHomesInvest.com 64138 816-786-3584 4725 Nebraska $35,500 2-3 Bed SINGLE FAMILY RESI- Stephen Davies Av Fixer 1 Bath DENCE FOR SALE DIRT DC Home Investors CHEAP! Kansas City, KS DCHomeInvestors@gmail.com 66102 832-496-5344 20 S. Boeke St. $14,000 5 Bed Attention Rehabbers – Christoph Becker Kansas City, KS 2 Bath This house is surround- Blueprint Properties, Inc 66101 ed by newer built BlueprintPropertySoltions.com homes in an excellent (816) 875-6266 neighborhood! 3922 Garfield Av $31,500 3 Bed Currently rented. Re- Nick McKinnis Kansas City, MO Turn Key 1 Bath habbed: new carpet, M&M Brothers Homes paint, light fixtures, MandMBrothersHomesInc.com new bathroom remod- 816-914-2614 el, and newer windows. 3918 Flora Av $31,740 3 Bed Rented $700/mo Re- Nick McKinnis Kansas City, MO Turn Key 1 Bath habbed: carpet, paint, M&M Brothers Homes bathroom, furnace, hot MandMBrothersHomesInc.com water heated & more. Property managed. 816-914-2614 3729 Cleveland $33,830 3 Bed Just Rehabbed and ready Nick McKinnis Kansas City, MO Turn Key 1.5 Bath for a tenant. Rents for M&M Brothers Homes $750 a month. MandMBrothersHomesInc.com 816-914-2614 4210 E. 54th $31,500 3 Bed CASH FLOW 25% NET Christoph Becker Terr. 2 Bath ROI!! Turn-Key Investment Blueprint Properties, Inc Property with Section 8 Kansas City, MO BlueprintPropertySoltions.com Tenant in place 64130 (816) 875-6266 7606 E 111th Tr $39,900 4 Bed Cash Flow in Ruskin – 4 Don Tucker Kansas City, MO Turn Key 2 Bath Bedroom Rental home in GBI Funding Kansas City Missouri. GBIFunding.com 816-523-4400 5500 Olive St $30,000 2 Bed Section 8 Turn-Key – Christoph Becker Kansas City, MO 1 Bath Beautifully Rehabbed – Blueprint Properties, Inc Original Woodwork and BlueprintPropertySoltions.com Charm (816) 875-6266Investment News Page 21
  25. 25. Weather you are Buying and Flipping, Buying to Hold for Rental or just offering Properties for Whole-sale, you will want to attend this Real Estate Investor Workshop for Kansas City Real Estate Investorson Rehabbing Houses. Workshop to be taught by MAREI founder, veteran rehabber and hard moneylender Donald Tucker.When you go out to look at a property to buy, you learn from all the gurus that to make your offer youneed to know three things: 1. How Much Profit YOU Need 2. What the House is Worth 3. What it Will Cost to FixTake the Time to Learn before you Jump In:  What items to focus on when looking at a potential property  What items should be fixed, repaired or replaced for best profits.  How to Estimate Rough Costs of Rehab  Where to Find Contractors and Manage Them  Where to find the Funding for your Rehab Projects.Take Advantage of this Rehab Workshop to Buy the Best Properties andHave Smooth Process. This is a Must Attend Workshop for all BeginningInvestors on their Way to Rehab, Rental, or Flip Profits MAREInet.com/Workshop Saturday March 16th / 8:30am to Noon Career Education Systems / Ward Pkwy Members $30 / Non-Members $45 3 Credits PHP
  26. 26. March 2013 Monthly Meetings KC North: 5:30 Set Up for Vendors & Speakers 6:00 Registration Vendor Hall North Kansas City 7:00 Introduction Community Center 7:15 Presentation David Nachman 1999 Iron Street 8:30 Networking NachmanLaw.com Kansas City, MO 8:50 Clean up and Adjourn at 9pm 816-285-6029KC South: 5:30 Set Up for Vendors & SpeakersCareer Education Systems 6:00 Registration Vendor HallWard Parkway Shopping Center 7:00 Introduction8600 Ward Parkway 7:15 PresentationKansas City, MO 8:30 Networking Don Gossman 8:50 Clean up and Adjourn at 9pm GossmanAppraisals.com 816-941-4750
  27. 27. Subscribe & Sync MAREInet.com/Calendar The MAREI calendar is hosted on Google Calendars. This allows you to subscribe to our calendar and sync it with your own Google Calendar, Mobile Calendar, or Outlook Calendars. Check calendar for times and locations. March 2013Sun Mon Tue Wed Thu Fri Sat 1 2 Weekly Wed. Master SG: Connected Inves- SG: Blue Springs / Mind w/ Winberrys tors Independence Inv. Workshop: Landlord 1013 4 5 6 7 8 9SG: Lees Summit Weekly Wed. Master KC Northland on the SG: Blue Springs / 1st Thursday of theInvestors Network Mind w/ Winberrys Independence Inv. Month: Contracts Deadline: Vendor Lake Ozarks REIA Table KC North10 11 12 13 14 15 16SG: Lees Summit Deadline: Vendor KC Metro South on Weekly Wed. Master Deadline: Newsletter SG: Blue Springs /Investors Network Tables for KC South the 2nd Tuesday of Mind w/ Winberrys ads & articles for Independence Inv. Meeting the Month: March Workshop: Appraisals Rehab 10117 18 19 20 21 22 23SG: Lees Summit Omaha REIA Weekly Wed. Master SG: Blue Springs /Investors Network Mind w/ Winberrys Independence Inv.24 25 26 27 28 1 March 2SG: Lees Summit Weekly Wed. Master SG: Connected Inves- SG: Blue Springs /Investors Network Mind w/ Winberrys tors Independence Inv. Landlord 101 Work- shop3 4 5 6 7 8 9SG: Lees Summit Weekly Wed. Master KC Northland on the SG: Blue Springs /Investors Network Mind w/ Winberrys 1st Thursday of the Independence Inv. Deadline: Vendor Month Tables for KC North

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