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        From Seminar to Success with IRC Support Systems, Investment Techniques & Real Estate Strategies for Today’s Entrepreneurs                                APRIL 2012



          Orlando’s Own Social                                                                                                     KEEP YOUR
                                                                                                                               NEWSLETTER COMING


           Networking Guru’
                                                                                                                                Remember to pay your
                                                                                                                              membership at the meeting!


        This month’s meeting will be a G r r 8 one. IRC will host Dawn Raquel Jensen.
        Dawn will bring the somewhat elusive social media, education and digital mar-                                NEW MEETING TIMES:
        keting down to the common denominator. If you at this IRC meeting you’ll leave
        understanding and knowing the new communications system and able to com-
                                                                                                                      Doors open at
        municate with ease.                                                                                         6pm and meetings
        Dawn teaches CEO’s and their staff all over the country be it Television News                                start at 6:30pm
        Anchors, Video Production or Public Relation personnel the in’s and outs of so-
        cial media and personable presentations. Dawn’s presentation is a passionate,
        fun filled, approachable, and thought provoking. It will have case studies and a

                                                                                                                       BRING YOUR S
        creative sense of humor. D M I

                                                                                                                                  D
                                                                                                                      BUSINESS CAR
        State of the Market Update
        Thursday’s meeting will be a “State of the Market Update” where local experts will
        share with you what’s happening TODAY in the real estate market, finance, legis-
        lative changes, commercial property and more. After the short presentations are
        over, the speakers will be available on a panel board to answer your questions.




                                                                                                                    Orlando’s Own Social Networking Guru’.......... 1

                                                                                                                    I want to invest in real estate. Should I get a
                                                                                                                    real estate license?
                                                                                                                    By Rob Arnold.................................................................. 2


                                                                                                                    What to Do When a Former Tenant Owes You
                                                                                                                    Money
                                                                                                                    By Florida Landlord Network............................................ 3


                                                                                                                    Zillow report: Median Rent Prices on the Rise
                                                                                                                    as Home Values Drop
                                                                                                                    By Esther Cho................................................................... 5


                                                                                                                    Board of Directors.................................................... 6

                                                                                                                    IRC BUSINESS MEMBERS DIRECTORY................ 7

                                                                                                                    HousingPulse Survey Reveals More Investors
                                                                                                                    Pursuing Short Sales
                                                                                                                    By Esther Cho................................................................... 8


                                                                                                                    Membership and Education Program.............10

                                                                                                                    Calendar of Events.................................................12




© 2012 IRC All Right Reserved. Quotation and reprint are not allowed without written permission of the publisher.     407-831-2498 • www.IRCFlorida.com                                                  1
NaREIA, 2008 Top National Newsletter & Print Media Award Winner, Mid-size Association.                    MARCH 2012



         I want to invest in real
          estate. Should I get a                                                                                           IRC Membership Benefits
           real estate license?                                                                                            •  nnual IRC Super Seminar – QA
                                                                                                                             A
                                                                                                                             at the December Round Table
                                                                                                                           •  RC Seminar  Product Discounts
                                                                                                                             I
                      By Rob Arnold, Sand Dollar Realty Group                                                              •  RC business membership
                                                                                                                             I
                                                                                                                             “Spotlight on Business Members”
                                                                                                                             in the Newsletter.


                                  I
                                 have probably
                                 had at least a
                                 hundred people
                            ask me whether or
                            not they should get
                                                                  and join the MLS without being a dues
                                                                  paying Realtor®. To be a Thompson Bro-
                                                                  ker, you still need a real estate license and
                                                                  the annual fees are higher than those of
                                                                  Realtors®, so I do not see much benefit in
                                                                                                                           •  onthly meeting literature
                                                                                                                             M
                                                                                                                             handouts
                                                                                                                           •  onthly “Deal of the Month”
                                                                                                                             M
                                                                                                                           •  onthly IRC “RESource” e-Letter“ –
                                                                                                                             M
                                                                                                                             Best in the Country for medium
                            a real estate license                 going that route.                                          size clubs by NaREIA”
                            in order to invest in                                                                          •  onthly IRC Meetings, Networking
                                                                                                                             M
                            real estate. There is                 Reason #2 is to legally get paid commis-                   and Programs
        no quick and easy answer to this ques-                    sions or referral fees without being a princi-
        tion. The answer really depends on what                   pal in the transaction. In Florida unless you            •  pportunity to make member
                                                                                                                             O
        you plan to do in your investment career.                 are a principal in a transaction AND you                   announcements at each meeting
                                                                  have “substantial consideration” (meaning                •  isit any of our special Interest
                                                                                                                             V
        A real estate license is typically for some-              money to possibly forfeit) on the line to tie              Groups ( SIGroups ) each month
        one who wants to work with other people                   up the contract, you cannot bring buyers                 •  olunteer Opportunities – a
                                                                                                                             V
        to help them buy, sell, or lease their real               and sellers together and get paid a fee. You               chance to learn by working side by
        estate. That is what a traditional real es-               also need a real estate license to be a lease/             side with those who are doing what
        tate licensee (the legal term in Florida is               manage rental property for another per-                    you want to do
        “sales associate”) does. Most investors are               son. (Reference: Chapters 475.41, 475.42,                •  eekly IRC emails announcements
                                                                                                                             W
        not planning on working with others, but                  and 475.43 Florida Statutes.)                              and news
        I do know many sales associates who in-                                                                            •  lus access to the most
                                                                                                                             P
        vest in real estate as a side business.                   Reason #3 is access to all the online                      Experienced Real Estate Investors
                                                                  contract forms. The FAR/BAR contract,                      in Central Florida
        There are really three main reasons to get                comprehensive addendum (some 20+
        a real estate license outside of doing tradi-             pages long), Supreme Court approved
        tional Realtor® services.                                 lease, FAR listing agreements, and doz-                  IRC Member Discounts:
                                                                  ens of other Florida standardized forms.                 •  o it Yourself Pest Control
                                                                                                                             D
        Reason #1 is to obtain access to the local                Most of the forms can be filled out either                 discount 10%.
        Multiple-Listing Service (MLS for short).                 online or saved onto your computer’s
                                                                                                                           •  fficeMax – Substantial discounts
                                                                                                                             O
        The MLS is the database used by nearly                    hard drive for future use. And then edited                 on product and printing.
        all residential Realtors to advertise their               and emailed to others in the transaction.
        listings to other Realtors and to get their                                                                        •  otoRooter – Sewer service 10%
                                                                                                                             R
        listings posted onto major websites like                  Here are a few of the other                              •  and Dollar Realty Group Inc –
                                                                                                                             S
        Realtor.com, Homes.com, Trulia, Zillow,                   positives for obtaining a license.                         Flat fee MLS listing (IRC members
        etc. The MLS has information on all list-                                                                            pay only at closing).
        ings past and present in the area includ-                 #4  he educational benefits from courses
                                                                     T                                                     •  herwin Williams Paint – up to 40%
                                                                                                                             S
        ing solds and expireds. It makes checking                      offered and trade magazines and                       discount on paint.
        for comparable sales easy. MLS access can                      newsletters.
        only be obtained by dues paying Real-
        tors®, assistants to dues paying Realtors®,               #5  ccess to the legal hotline to answer
                                                                     A
        and licensed real estate appraisers. A few                     all your real estate legal questions.                 Don’t Forget! Always
                                                                                                                            bring your name badge
        people have asked me to let them be my
        assistant, but our local MLS has a limit                  #6  he technology hotline. They will
                                                                     T
        of 2 assistants per Realtor® because they
        know that people try to get around their
                                                                       actually spend hours fixing computer
                                                                       software issues online at no charge.
                                                                                                                             to get the discounts.
        licensing rules. There is also a way to be
        what is known as a “Thompson Broker”                                                  continued on p9

© 2012 IRC All Right Reserved. Quotation and reprint are not allowed without written permission of the publisher.           407-831-2498 • www.IRCFlorida.com      2
NaREIA, 2008 Top National Newsletter  Print Media Award Winner, Mid-size Association.                       APRIL 2012




        What to Do When a Former                                                                                              Don’t Miss a
        Tenant Owes You Money                                                                                                 SIG Meeting!
          Your tenant left your rental apartment trashed, damaged and owing you money! Your
          tenant lied and took advantage of you. He may have skipped or you may have evicted
                                                                                                                                        1st Monday
          him. In either case, he damaged your rental and cost you money! What do you do?                                           Multifamily / Apartments


        First, set your emotions aside and spend a
        few minutes getting your ducks lined up.
                                                                  not owe you the rent until the rent is ac-
                                                                  tually due. Only charge him now for lost
                                                                                                                                       2nd Monday
        Organize your ex-tenants file. Whether                    rent, as of the date of the move out state-                             Landlording
        you own one unit or a thousand; whether                   ment. If you wish, you may update the
        you manage your rentals full                                           amount he owes each month
        time or part time, you are run-                                        until the unit is re-rented or                           2nd Tuesday
        ning a business. Any success-                                          the lease expires. Discuss this                      Training with an Expert,
        ful business keeps well orga-                                          issue with your attorney.                               FREE to Members
        nized, complete records.
                                                                             Your lease includes termina-
        Keep copies of all receipts                                          tion and or no notice fees? I                              3rd Tuesday
        required to repair the unit,                                         often hear, “It is in my lease,                 IRC Breakfast with the Directors
        legal fees, unpaid rent, etc.                                        he has to pay it.” The think-
        Complete a move out inspec-                                          ing here is that if it is in the
        tion checklist, preferably with
        the tenant, if possible. Both
                                                                             lease it is binding. This is not
                                                                             necessarily true. Termination
                                                                                                                                        4th Tuesday
        of you sign it. The move out                                         and no notice fees may be le-                   Making Money with Rehabbing
        inspection will help you docu-                                       gal in your state, and your
        ment the condition of your                                           tenant may be held respon-
        unit and the debt he owes                                            sible for them. With various                              3rd Thursday
        you. If you are not completing                                       state laws and recent case law                            IRC Main Meeting
        move in inspection checklists                                        I highly recommend you have
        now, begin doing so with you next move                    your lease periodically reviewed by an at-
        in. This important step is often left out                 torney to make sure you are complying                                4th Thursday
        “because I didn’t have time”. Take the                    with current law. If legal in your state,                         Special Topics: Training
        time. There is no excuse for not having                   termination and no notice fees may be a
        a complete move in inspection signed by                   great way to calculate all charges at the
        you and the tenant.                                       time of move out, without having to add
                                                                  future rent as it comes due. Again, talk
        An emotionally charged issue with some                    with your attorney about this.
        landlords is charging through the lease.
        He signed a twelve month lease and                        Take pictures. A digital camera is im-
        skipped or was evicted after only six                     portant to your business. Move in pictures                 Be sure to wear your
        months. Does he owe you for the remain-                   are nice to have; move out pictures are a
        ing six months? The short answer is no,                   must have. The checklist and pictures                      Name Badge to each
        not yet. In many states, if you can not re-               not only help document the condition of
        rent the unit before the end of the lease                 the unit, they may be helpful later if the                 SIG Group meeting!
        he will owe you the lost rent. But, he does
                                                                                              continued on p8

                                                                                            If you’re looking to reach the Real Estate Industry here in
                                                                                            Central Florida, you can’t do better than The RESource.
                                                                                            Your ad will reach more than 2,200 each month with your
                                                                                            message. Our production team are among some of the best
                                                                                            designers in the country. We make you look GOOD!

            If you are ready to start, call Duane Williams NOW! Call 407-492-3492

© 2012 IRC All Right Reserved. Quotation and reprint are not allowed without written permission of the publisher.           407-831-2498 • www.IRCFlorida.com        3
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not to miss the discounts and specials from our
  sponsors in the Community Buying Group.




      Renew your membership
          or join TODAY!
NaREIA, 2008 Top National Newsletter  Print Media Award Winner, Mid-size Association.                    MARCH 2012




                                                                                   Zillow report: Median
                                                                                   Rent Prices on the Rise
                                                                                   as Home Values Drop
                                                                                   By Esther Cho
                                                                                   Reprint from DSNews.com – 03/13/2012




        W           hile homes prices continue to
                    be on the decline, rent prices
                    are actually on the rise and
        showed a 3 percent increase from Janu-
        ary 2011 to January 2012, as opposed to
                                                                  Zillow Rent Index (ZRI). During the
                                                                  same period, home values fell 0.5 per-
                                                                  cent to $146,200, according to the Zil-
                                                                  low Home Value Index (ZHVI).
                                                                                                                         home values dropped 8.1 percent.

                                                                                                                         “The flourishing rental market is the sil-
                                                                                                                         ver lining to the nation’s housing down-
                                                                                                                         turn,” said Humphries. “We haven’t
        home values, which dropped 4.6 percent                    The states that saw the greatest year-                 had a good way to quantify what is hap-
        during that same period, according to                     over-year decline in home values were                  pening with rental rates until now, and
        the January Zillow Real Estate Market                     Nevada (-10.3), Illinois (-9.4), Georgia               the inaugural Zillow Rent Index shows
        Reports released today.                                   (-9.3), Washington (-7.8), and New Jer-                us a healthy and growing rental market
                                                                  sey (-7.2), according to the ZHVI.                     across the majority of the country, even
        “While it seems that rents are rising at                                                                         as home values continue to fall.”
        the expense of home values, the oppo-                     Based on the ZRI, the states with the
        site is true. A thriving rental market will               greatest increases in median rent over                 Nationwide, foreclosures decreased by
        stimulate home sales as investors snap                    a year were New Jersey (+16.5), New                    0.3 percent compared to the year be-
        up low-priced inventory to convert to                     York (+13.7), Kansas (+10.2), Indiana                  fore in January 2011, but went up 0.3
        rentals,” said chief economist for Zillow                 (+10), and Michigan (+10.0).                           percent on a monthly basis compared to
        Dr. Stan Humphries in a release.                                                                                 December, with 8.4 out of every 10,000
                                                                  The ZRI also showed year-over-year                     homes foreclosed upon in January 2012.
        To clear out the excess of unsold proper-                 gains for 69.2 percent of metropoli-
        ties, the federal government announced                    tan areas covered by the index. For the                Foreclosure re-sales went up by 2 percent
        an REO Initiative in August 2011 to sell                  ZHVI, only 7.3 percent of metro areas                  over a year ending in January 2012 and rose
        homes owned by government agencies to                     saw increases in home values.                          by 1.4 percent compared to the month be-
        investors with the purpose of converting                                                                         fore. Overall, foreclosure re-sales accounted
        them into rental units. The first block of                For some metros, the increase in rent                  for 19.46 percent of all home sales in Janu-
        2,490 REOs went to sale in February.                      and drop in home prices were closely                   ary, and Nevada had the highest percentage
                                                                  matched. In the Chicago metro, the                     of foreclosure re-sales at 49.65 percent. The
        When looking at rent prices on a month-                   ZRI went up 9.1 percent year-over-year,                state also saw a yearly increase of 12.6 per-
        over-month basis, January’s median rent                   while home values fell 10.4 percent dur-               cent for foreclosure re-sales.
        prices actually declined slightly, falling                ing the same period. In the Minneapolis-
        0.3 percent to $1,218, according to the                   St. Paul metro, rents rose 11 percent as               KS - 8% increase on nice homes




             Join us for NETWORKING
             at the meeting after the meeting
                         It convenes right after
                        our monthly meeting at:                                                                               Winter Park

© 2012 IRC All Right Reserved. Quotation and reprint are not allowed without written permission of the publisher.           407-831-2498 • www.IRCFlorida.com            5
NaREIA, 2008 Top National Newsletter  Print Media Award Winner, Mid-size Association.                                    MARCH 2012

                                                                                                     www.IRCFlorida.com
                                                                                          www.Facebook.com/InvestorsResourceCenter,LLC
                                                                                                 www.Facebook.com/IRCFlorida

    Investors RESource Center, LLC • PO BOX 941658 Maitland, FL 32794
                          Phone: 407-831-2498
                                                                                                                       Pick up you
                                                                                                             “IRC Netwo            r
                                                                                                                           rking Broch
                                                                                                                 at the next           ure”
                                                                                                            get the mo       meeting to
              Chuck Burt                                                 Karen McRainey
                                                                                                                        st of your m
              PRESIDENT                                                  Newsletter Editor
                                                                                                                    and gatheri      eetings
              PH: 407-645-3540                                           Ph: 407-699-4781                                       ngs!
              Cell: 407-832-7226                                         FX: 407-574-6572
              Fx: 407-644-9094                                           Email: ksmcrainey@yahoo.com
              Email: chuck@ircFlorida.com
              Fb: www.Facebook.com/chuckburt                             Rick Puglisi
                                                                         Director OF PUBLICITY
              Debbie Crawford                                            PH: 386-316-7023                                              Tim Tolbert
              Director of Membership                                     EMAIL: rickpuglisi@gmail.com                                  DIRECTOR OF TECHNOLOGY
              And IRC Board Secretary                                                                                                  Ph: 407-831-2277
              PH: 386-316-7024                                           Andy Tolbert                                                  Fx: 407-842-7669
              EMAIL: Debbie@hrrp.org                                     DIRECTOR PROGRAMING                                           Email: tim@atmorflorida.com
                                                                         Cell: 407-842-7700                                            Fb: www.Facebook.com/2timtolbert
              Dennis Gaynor                                              Fx: 407-842-7669
              DIRECTOR OF MEMBER BENEFITS                                Email: Andy@IRCFlorida.com                                    Duane Williams
              Ph: 407-309-7111                                           Website: www.AndyTolbert.com                                  DIRECTOR OF NEWSLETTER
              Cell: 407-702-5409                                         Blog: www.seminolecountyforclosureblog.com                    Cell: 407-492-3492
              Fx: 407-862-7715                                           Fb: www.Facebook.com/2andytolbert                             Email: duaneaeg@embarqmail.com
              Email: BuyerofHomes@hotmail.com                            LinkedIn: www.linkedin.com/in/andytolbert                     Website: www.duanewilliamsonline.com
                                                                         Twitter: www.twitter.com/andytolbert                          Blog: Real Estate Talk America
              Wayne Gebhardt                                                                                                           Fb: www.Facebook.com/duanewilliams.1
              Director of Finance                                                                                                      LinkedIn: www.linkedin.com/in/duanewilliams
              PH: 407-353-6899                                                                                                         Plaxo: www.DUANEWILLIAMS7.myplaxo.com
              EMAIL: mgebhardt1@cfl.rr.com                                                                                             Twitter: www.twitter.com/duane22
                                                                                                                                       Flikr: www.flickr.com/photos/duaneaeg


                                        Member of National Real Estate Investors
                                                                                                                    The Investors RESource Center promotes practical knowledge of real
                                        Association  2008 winner of Honor of                                       estate investment through education, discussion and networking. Opinions
                                        Merit for Midsize Clubs:                                                    expressed are not necessarily those of the Investors RESource Center, LLC.
                                                                                                                    While this publication is designed to provide accurate and authoritative
                                        1) Print Communication, 2) Membership,                                      information with regard to the subject matter covered, it is published with
                                                                                                                    the understanding that the publisher is not engaged in rendering legal,
                                        3) Electronic Communications and also 4)                                    accounting or other professional advice. If legal, accounting or other expert
                                                                                                                    professional assistance is required, the services of a competent professional
                                        Community Service.                                                          person should be sought. Nothing contained herein may be reproduced in
                                                                                                                    whole or in part without express written consent of the publisher.




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© 2012 IRC All Right Reserved. Quotation and reprint are not allowed without written permission of the publisher.                407-831-2498 • www.IRCFlorida.com
                                                                                                                                 407-831-2498 www.IRCFlorida.com                                    6
NaREIA, 2008 Top National Newsletter  Print Media Award Winner, Mid-size Association.                    MARCH 2012




                                                     IRC BUSINESS MEMBERS DIRECTORY

        ACCOUNTING / BOOKKEEPING                                                               INVESTOR / INVESTMENTS

        A M Business Solutions	                                     386-295-2506               H.P. Investment Group	                              407-834-1325
                                                                                               JT Investor Group	                                 407-971-0013
        ATTORNEY                                                                               Mid-Florida Investments	                            407-366-3106
        Alvarez Law Firm	                                           407-970-2954               MJM Management Group, LLC	                          407-739-9110
                                                                                               Property Problem Solvers, LLC	                      407-207-2011
        CABINETS  COUNTERTOPS                                                                 Solid Real Estate Solutions, LLC	                   407-718-1208
        Interior Solutions of Orlando	                              407-921-8500               Sunvest Homes, Inc	                                 407-247-9337

        DEBT REDUCTION / ELIMINATION                                                           MORTGAGES

        TPM  Associates	                                         352-357-9310                 Atmor Mortgage	                  407-448-9188
                                                                                               Capital Mortgage Financial Group		
        FORECLOSURE  DATA SERVICES                                                            	407-275-5112
        Foreclosures Daily	                                         863-698-3550               Mortgage Prof. of C.F.	          407-330-2855
        IRSFL.com	                                                407-299-2891
                                                                                               PROPERTY MANAGEMENT
        Contractor – Lead Based Paint                                                          The Realty Center Southeast	                        407-637-8000
        Creative Homes Paint  Renovation	                          407-645-1432               INVESTORLANDO REALTY	                               407-937-2200

        CONTRACTORS / PROJECT MANAGERS  PERMITING                                             PROPERTY REHABBER

        Alpha Construct II	                                         407-722-6136               Absolute Property Solutions	                        407-797-3513
        Castle Services Group Inc	                                  407-645-3540
                                                                                               REAL ESTATE AGENTS
        Sunvest Homes Inc	                                          407-247-9337
                                                                                               Andy Tolbert	                                       407-448-4994
        HARD MONEY / PRIVATE LENDERS                                                           Creative Homes 	                                    407-645-1432
        Bridgewell Capital	                                         407-447-1000               Invest Orlando Realty	                              407-937-2200
        Private Banker	                                             386-785-8446               Pro Investor Realty.com	                            718-490-6380
                                                                                               RE/Max Ocean Side	                                  386-931-0485
        HOME INSPECTION SERVICES                                                               Sand Dollar Realty Group, Inc.	                     407-389-7318
        ACS Home Inspection Services	      407-862-8063                                        Janine Wooten / Weichert	                           407-620-5633
        Marks Guaranteed Home Inspections	 407-629-6640                                        Frank Holmes	                                       407-454-2490
        Performance Inspections	           386-804-2605
                                                                                               Self-Directed I R A
        The Inspectagator	               407-678-HOME
                                                                                               Entrust	407-367-3472
        INSURANCE SERVICES
                                                                                               WHOLESALE PROPERTIES
        J Meyer Insurance Group	                                    407-273-0230
                                                                                               Absolute Property Solutions	                        407-797-3513
        INVESTOR / INVESTMENTS                                                                 Blue Sky Properties	                                407-766-7627
        American Equities Group, LLC	                               407-492-3492               First Alliance Capital	                             407-897-0911
        Blue Sky Properties	                                        407-766-7627               Seeds of Purpose, Inc	                              407-702-5409
        Castle Properties Group LLC	                                407-645-3540               H.P. Investment Group	                              407-834-1325
        Foreclosures Gone Wild	                                     407-888-3255               Mid-Florida Investments	                            407-702-4900
        Seeds of Purpose, Inc	                                      407-702-5409               Premier Property Solutions	                         407-737-SELL
        Homes To Own	                                               407-592-4166               Property Problem Solvers, LLC	                      407-207-2011
                                                                                               Sky Quest	                                          407-424-7865


© 2012 IRC All Right Reserved. Quotation and reprint are not allowed without written permission of the publisher.           407-831-2498 • www.IRCFlorida.com     7
NaREIA, 2008 Top National Newsletter  Print Media Award Winner, Mid-size Association.                     MARCH 2012

           Tenant Owes cont. from p3                              claim against the Security Deposit you                 Now that you have your documents or-
                                                                  must mail a special letter titled: “Notice             ganized, and have mailed the move out
        tenant gets creative with his description                 of Intention to Impose Claim Against Se-               statement, do not just put the file away
        of the condition when he moved in and                     curity Deposit” within 30 days of the ten-             somewhere and forget it. The money you
        when he moved out.                                        ant’s move out. (Click Here to Download                are owed is an asset. I can not tell you
                                                                  the letter) It must be sent via Certified              how many times I have heard the com-
        Keep a log of all communications you                      Mail to the tenant’s last known address,               ment, ”That bum will never pay his bill!”
        have with your tenant, especially any                     which very often is your rental. Failure to            If you have a crystal ball that tells you he
        communication regarding him moving or                     do this will give your debtor the upper                won’t pay his bill, maybe you should have
        paying his rent. If you do not have a log,                hand, and you may be required to repay                 put it to use before he moved in. I can
        begin using one immediately for all your                  his deposit even though he actually owes               tell you with confidence that this way if
        present and future tenants.                               you money! Keep your certified mail re-                thinking is costing landlords millions of
                                                                  ceipt with your records. You may need                  dollars a year in lost profit.
        Once you have your records together,                      proof that you complied with the law. If
        complete a move out statement. Most                       the letter is returned un-received, keep it            With little effort on your part you may
        likely your management software will                      in the file also.                                      collect all or part of what you are owed.
        do this for you. The move out statement
        should include the names of everyone who                  A word of caution here: Some landlords                 Bill Gray is an independent consultant who
        signed the lease, the unit address, move                  are tempted to pile on, and exaggerate                 has been assisting landlords and property man-
        in/move out dates and a break down of                     the charges. While emotionally tempt-                  agement companies nationwide in addressing
        the charges. If a deposit was placed on the               ing, it will do you no good in the end,                the issue of tenant debt since 1997.
        unit you will show the deposit subtracted                 and it is not legal. Being fair and reason-
        from the total due. Florida law is explicit               able in your charges will greatly increase             Reprinted with permission by Paul Howard,
        on this point. If you intend to impose a                  your chances of recovering the debt.                   Florida Landlord Network, flalandlord.com




                 You’ll Find Some Of The Best R/E Educators
                     In The Country At The Irc Meeting!
                                3rd Thursday Of Each Month



        HousingPulse Survey
        Reveals More Investors
        Pursuing Short Sales
        By Esther Cho
        Reprint from DSNews.com – 03/13/2012




        I    nvestors are making it a practice
             to endure through obstacles that
             come with the discounted price of
        short sales and pursued them at a greater
        pace in February compared to previous
                                                                  The percentage of investors buying homes
                                                                  climbed from 20.9 percent of all transac-
                                                                  tions in September 2011 to 24.2 percent
                                                                  of all transactions in February 2012, ac-
                                                                  cording to the survey. The investor share
                                                                                                                         In contrast, the number of short sale pur-
                                                                                                                         chases from homeowners has waned since
                                                                                                                         September. This trend is largely driven
                                                                                                                         by long-approval times from mortgage
                                                                                                                         servicers and unpredictable closing dates,
        months, according to the latest results of                of short sales also rose, going from 25.9              according to the survey.
        the monthly Campbell/Inside Mortgage                      percent to 30.6 percent during the same
        Finance HousingPulse Tracking Survey.                     six-month period.

© 2012 IRC All Right Reserved. Quotation and reprint are not allowed without written permission of the publisher.           407-831-2498 • www.IRCFlorida.com             8
NaREIA, 2008 Top National Newsletter  Print Media Award Winner, Mid-size Association.                        MARCH 2012
           License cont. from p2
                                                                       Cease and Desist orders from the State             properties, do not get a license at least in
        #7  bility to show properties to yourself
           A                                                           for the “investment activities” that               the beginning. Do a few deals and find
             without needing another sales                             were really just unlicensed brokerage              out if real estate investing is really what
             associate to accompany you. A big                         activities. Read Chapters 475.01 and               you want to do. After a few deals, then
             obstacle if you are making lots of                        475.011, Florida Statutes for what                 you can decide if you want to take the
             offers on listed properties.                              constitutes brokerage activities and               step of getting a license. Having the li-
                                                                       who is exempt.                                     cense is not for everyone, and there are
        #8  avorable income tax rules regarding
           F                                                                                                              plenty of successful investors that do not
             active vs. passive income and tax                    #4  isclosure of your real estate license
                                                                     D                                                    have a license. I have found it is better to
             write-offs. (Ask your CPA.)                               to potential buyers and sellers. Some              get a license if you are doing many trans-
                                                                       “gurus” say this is a negative. To me              actions on a regular basis or if you have a
        #9  ou can offer to list properties that
           Y                                                           it is actually a positive. Why would a             large portfolio of properties that you are
             do not make sense to purchase as an                       seller or buyer want to deal with some             working with. The more volume you do,
             investment. Many times we offer to                        unlicensed investor (who might just be             the more you probably need the license.
             buy the property first and then list the                  a scam artist) when they can deal with             It does not necessarily need to be you that
             property second - depending on the                        someone that is regulated by the State             obtains the license though. I know many
             deal of course.                                           of Florida? I use this argument all the            investment teams where a spouse, parent,
                                                                       time when buying property and helps                child, friend, or employee gets the license.
        Now, for the negatives for                                     me clinch the deal.
        obtaining a license.                                                                                              I hope this article has been enlightening to
                                                                  #5  ourts may hold sales associates to a
                                                                     C                                                    you. I do recommend that everyone take
        #1  ducational requirements - pre-
           E                                                           “higher standard” then they would a                the real estate pre-licensing course. You
             licensing, post-licensing, continuing                     non-sales associate. Another “guru”                can take it at many of the local community
             education, and several tests are                          negative for not getting a license.                colleges or real estate schools or even on-
             mandatory.                                                However if you are doing lots of                   line. Even if you never get a real estate li-
                                                                       deals and are advertising yourself as              cense, the course goes over many of the ba-
        #2  he costs in both time and money
           T                                                           a professional investor, you are going             sics of real estate, the contract, and Florida
             for the license, the application, and                     to be held to a higher standard than a             law. The course can be a real eye-opener to
             annual dues with the State, the board                     layperson anyway. If you go to court,              investors. I have talked to a few investors
             of Realtors®, and the MLS. You only                       you still lose time and money even                 that took the course and then realized that
             need to join the board of Realtors® if                    if you prevail. Most of the people                 they had been breaking the law for years
             you want access to the MLS though;                        that I know who have been sued by                  and did not even know it.
             you can still legally get paid a                          a seller or buyer or partner in a bad
             commission without joining the board                      real estate investment deal did not                If you need help determining whether or
             of Realtors®.                                             have a license. And often they got                 not you should get a real estate license, feel
                                                                       sued because they were ignorant of                 free to call me and we can discuss your situ-
        #3  aving to abide by the State real
           H                                                           the various laws regarding real estate             ation. Until next time... happy investing.
             estate laws and the board of Realtors®                    - laws that get taught in the pre-
             Code of Ethics. Just because you are                      licensing real estate 101 class.                   Rob Arnold, licensed real estate broker with
             unlicensed does not mean that you                                                                            Sand Dollar Realty Group, Inc. can be
             do not have to abide by the State                    So what is my advice on getting a license?              reached at 407-389-7318 or
             laws. Plenty of investors have gotten                If you do not plan on listing and showing               www.SDRhouses.com



                                                                                                   If you are ready to start,
                                                                                                   call Duane Williams NOW!
                                                                                                   Call 407-492-3492
               If you’re looking to reach the Real Estate Industry here in                           Full Page $175/mo., 7.5”w x 10”D or 8.5x11 with full bleed
               Central Florida, you can’t do better than The RESource.                               2/3rd Page $150/mo., 5”w x 10”D, 7.5”w x 6.25’D
               Your ad will reach more than 2,200 each month with your                               1/2 Page $125/mo., 7.5”w x 4.5”D, 5” w x 6.5”D
               message. Our production team are among some of the                                    1/3rd Page $95/mo., 5”w x 5”D
                                                                                                     1/4th Page $75/mo., 5” w x 4” D, 3.7”w x 5”D
               best designers in the country. We make you look GOOD!
                                                                                                     1/8th Page $40/mo., 2.4” w x 3.5” D, 5”w x 2”D
               Your ad can be any of the following sizes.



© 2012 IRC All Right Reserved. Quotation and reprint are not allowed without written permission of the publisher.             407-831-2498 • www.IRCFlorida.com            9
NaREIA, 2008 Top National Newsletter  Print Media Award Winner, Mid-size Association.                       APRIL 2012




           Don’t miss the roll out of the
         new Membership and Education
         Program at Thursday’s Meeting!
             You will learn about our Great New
          Membership Benefit and Education Program.




               Our new Education Program
               with training classes each month includes:

               •	 1st Tuesday each month Training
               •	 2nd Tuesday each month Training with an Expert –
                  FREE to all paid members
               •	 4th Thursday each month Training




© 2012 IRC All Right Reserved. Quotation and reprint are not allowed without written permission of the publisher.           407-831-2498 • www.IRCFlorida.com        10
NaREIA, 2008 Top National Newsletter  Print Media Award Winner, Mid-size Association.
                                           NaREIA, 2008 Top National Newsletter  Print Media Award Winner, Mid-size Association.                              MARCH 2012
                                                                                                                                                                APRIL




                           NEW MEETING TIMES:
                              Doors open at 6pm
                          and meetings start at 6:30pm
                                                          KEEP YOUR NEWSLETTER COMING
                                                   Remember to pay your membership at the meeting!




                                                                    SIGroups Calendar
                      Thursday, March 15th • 5:30 – 6:00 PM – DON’T MISS THE MEETING BEFORE THE MEETING

             New Location                                                                      3rd Tuesday of Each Month:
             1st Monday of Each Month:                                                         IRC Breakfast with the Directors
             Multifamily / Apartments                                                          Apr 17 / May 15
             Apr 2 / May 7                                                                     9:00 AM. Denny’s at Lee Rd. and I-4.
             6:30 p.m. - 8:30 p.m.
             SoNapa Restaurant (Old Steak  Ale) 640 S. Orlando Ave., Maitland, 32751          4th Tuesday of Each Month:
             Led by Bob Bowman  • 321-239-0647 • bobbowman@cfl.rr.com
                                                                                               Making Money with Rehabbing
                                                                                               Apr 24 / May 22
             2nd Monday of Each Month:                                                         6:30 pm. Denny’s located Lee Road and I-4
             Landlording                                                                       Co-leaders, Ron Smith and Brian Sullivan
             Apr 9 / May 14
             6:30 p.m. - 8:30 p.m.                                                             3rd Thursday of Each Month:
             Denny’s Altamonte Springs, 2 blocks east of I-4 on 436.
             Contact Robin Butler at 407-599-4446 or robinbutler585@earthlink.net              IRC Main Meeting
                                                                                               Apr 19 / May 17
             NeW!! FREE TO MEMBERS                                                             Doors open at 5:30 pm
                                                                                               Winter Park Civic Center. 1050 W. Morse Blvd. Winter Park, FL
             2nd Tuesday of Each Month:
             Training with an Expert                                                           NeW!! SPECIAL TOPICS
             Apr 10 / May 8                                                                    4th Thursday of Each Month:
             6:30 pm. Denny’s Altamonte Springs, 2 blocks east of I-4 on 436.
                                                                                               Training
                                                                                               Apr 26 / May 24
                                                                                               6:30 pm. Onier HD Realty office, 1499 W State Road 434, Longwood 32750
                                                                                               Contact Tim Tolbert at 407-831-2277




© 2012 IRC All Right Reserved. Quotation and reprint are not allowed without written permission of the publisher.              407-831-2498 • www.IRCFlorida.com            11
IRC ORLANDO CALENDAR OF EVENTS
                                 M A R C H                        /     A P R I L              2 0 1 2
     SUNDAY         MONDAY                   TUESDAY                  WEDNESDAY       THURSDAY                       FRIDAY           SATURDAY
1             2 NEW LOCATION           3                          4               5                            6                  7
                 Multifamily /
                 Apartments
                 6:30 – 8:30 pm
              SoNapa 640 S Orlando
               Av, Maitland 32751
                (Old Steak  Ale)

8             9                        10                         11              12                           13                 14
                    Landlording        Training with an Expert,
                    6:30pm AAGO           FREE to Members
                  Denney’s 436  I-4        6:30 pm. Denny’s
                  Altamonte Springs        Altamonte Springs


15            16                       17                         18              19                           20                 21
                                          IRC Breakfast                                  IRC
                                        with the Directors                          Main Meeting
                                             9:00am                                 5:30 - 6pm Mini-Seminar,
                                        Denny’s at Lee Rd.                        6 - 7:30pm Meeting  News,
                                             and I-4.                               7:45 - 9pm Main speaker

22            23                       24                         25              26                           27                 28
                                         Making Money
                                         with Rahabbing                             SPECIAL TOPICS
                                         6:30 pm. Denny’s                               Training
                                        Altamonte Springs                              Topic: TBA
                                             I-4  436

29            30                       1                          2               3                            4                  5




6             7 NEW LOCATION           8                          9               10                           11                 12
                 Multifamily /
                 Apartments            Training with an Expert,
                 6:30 – 8:30 pm           FREE to Members
              SoNapa 640 S Orlando          6:30 pm. Denny’s
               Av, Maitland 32751          Altamonte Springs
                (Old Steak  Ale)
13            14                       15                         16              17                           18                 19
                                             IRC Breakfast
                                                                                        IRC
                    Landlording            with the Directors                      Main Meeting
                    6:30pm AAGO                 9:00am                              5:30 - 6pm Mini-Seminar,
                  Denney’s 436  I-4       Denny’s at Lee Rd.                     6 - 7:30pm Meeting  News,
                  Altamonte Springs             and I-4.                            7:45 - 9pm Main speaker


20            21                       22                         23              24                           25                 26
                                         Making Money
                                         with Rahabbing                             SPECIAL TOPICS
                                         6:30 pm. Denny’s                               Training
                                        Altamonte Springs                              Topic: TBA
                                             I-4  436

27            28                       29                         30              31

                                                                                                                   NEWSLETTER design provided by
                                                                                                                   www. RiverCityConsulting .com

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IRC Media Cover/Newletter

  • 1. $19.95 From Seminar to Success with IRC Support Systems, Investment Techniques & Real Estate Strategies for Today’s Entrepreneurs APRIL 2012 Orlando’s Own Social KEEP YOUR NEWSLETTER COMING Networking Guru’ Remember to pay your membership at the meeting! This month’s meeting will be a G r r 8 one. IRC will host Dawn Raquel Jensen. Dawn will bring the somewhat elusive social media, education and digital mar- NEW MEETING TIMES: keting down to the common denominator. If you at this IRC meeting you’ll leave understanding and knowing the new communications system and able to com- Doors open at municate with ease. 6pm and meetings Dawn teaches CEO’s and their staff all over the country be it Television News start at 6:30pm Anchors, Video Production or Public Relation personnel the in’s and outs of so- cial media and personable presentations. Dawn’s presentation is a passionate, fun filled, approachable, and thought provoking. It will have case studies and a BRING YOUR S creative sense of humor. D M I D BUSINESS CAR State of the Market Update Thursday’s meeting will be a “State of the Market Update” where local experts will share with you what’s happening TODAY in the real estate market, finance, legis- lative changes, commercial property and more. After the short presentations are over, the speakers will be available on a panel board to answer your questions. Orlando’s Own Social Networking Guru’.......... 1 I want to invest in real estate. Should I get a real estate license? By Rob Arnold.................................................................. 2 What to Do When a Former Tenant Owes You Money By Florida Landlord Network............................................ 3 Zillow report: Median Rent Prices on the Rise as Home Values Drop By Esther Cho................................................................... 5 Board of Directors.................................................... 6 IRC BUSINESS MEMBERS DIRECTORY................ 7 HousingPulse Survey Reveals More Investors Pursuing Short Sales By Esther Cho................................................................... 8 Membership and Education Program.............10 Calendar of Events.................................................12 © 2012 IRC All Right Reserved. Quotation and reprint are not allowed without written permission of the publisher. 407-831-2498 • www.IRCFlorida.com 1
  • 2. NaREIA, 2008 Top National Newsletter & Print Media Award Winner, Mid-size Association. MARCH 2012 I want to invest in real estate. Should I get a IRC Membership Benefits real estate license? • nnual IRC Super Seminar – QA A at the December Round Table • RC Seminar Product Discounts I By Rob Arnold, Sand Dollar Realty Group • RC business membership I “Spotlight on Business Members” in the Newsletter. I have probably had at least a hundred people ask me whether or not they should get and join the MLS without being a dues paying Realtor®. To be a Thompson Bro- ker, you still need a real estate license and the annual fees are higher than those of Realtors®, so I do not see much benefit in • onthly meeting literature M handouts • onthly “Deal of the Month” M • onthly IRC “RESource” e-Letter“ – M Best in the Country for medium a real estate license going that route. size clubs by NaREIA” in order to invest in • onthly IRC Meetings, Networking M real estate. There is Reason #2 is to legally get paid commis- and Programs no quick and easy answer to this ques- sions or referral fees without being a princi- tion. The answer really depends on what pal in the transaction. In Florida unless you • pportunity to make member O you plan to do in your investment career. are a principal in a transaction AND you announcements at each meeting have “substantial consideration” (meaning • isit any of our special Interest V A real estate license is typically for some- money to possibly forfeit) on the line to tie Groups ( SIGroups ) each month one who wants to work with other people up the contract, you cannot bring buyers • olunteer Opportunities – a V to help them buy, sell, or lease their real and sellers together and get paid a fee. You chance to learn by working side by estate. That is what a traditional real es- also need a real estate license to be a lease/ side with those who are doing what tate licensee (the legal term in Florida is manage rental property for another per- you want to do “sales associate”) does. Most investors are son. (Reference: Chapters 475.41, 475.42, • eekly IRC emails announcements W not planning on working with others, but and 475.43 Florida Statutes.) and news I do know many sales associates who in- • lus access to the most P vest in real estate as a side business. Reason #3 is access to all the online Experienced Real Estate Investors contract forms. The FAR/BAR contract, in Central Florida There are really three main reasons to get comprehensive addendum (some 20+ a real estate license outside of doing tradi- pages long), Supreme Court approved tional Realtor® services. lease, FAR listing agreements, and doz- IRC Member Discounts: ens of other Florida standardized forms. • o it Yourself Pest Control D Reason #1 is to obtain access to the local Most of the forms can be filled out either discount 10%. Multiple-Listing Service (MLS for short). online or saved onto your computer’s • fficeMax – Substantial discounts O The MLS is the database used by nearly hard drive for future use. And then edited on product and printing. all residential Realtors to advertise their and emailed to others in the transaction. listings to other Realtors and to get their • otoRooter – Sewer service 10% R listings posted onto major websites like Here are a few of the other • and Dollar Realty Group Inc – S Realtor.com, Homes.com, Trulia, Zillow, positives for obtaining a license. Flat fee MLS listing (IRC members etc. The MLS has information on all list- pay only at closing). ings past and present in the area includ- #4 he educational benefits from courses T • herwin Williams Paint – up to 40% S ing solds and expireds. It makes checking offered and trade magazines and discount on paint. for comparable sales easy. MLS access can newsletters. only be obtained by dues paying Real- tors®, assistants to dues paying Realtors®, #5 ccess to the legal hotline to answer A and licensed real estate appraisers. A few all your real estate legal questions. Don’t Forget! Always bring your name badge people have asked me to let them be my assistant, but our local MLS has a limit #6 he technology hotline. They will T of 2 assistants per Realtor® because they know that people try to get around their actually spend hours fixing computer software issues online at no charge. to get the discounts. licensing rules. There is also a way to be what is known as a “Thompson Broker” continued on p9 © 2012 IRC All Right Reserved. Quotation and reprint are not allowed without written permission of the publisher. 407-831-2498 • www.IRCFlorida.com 2
  • 3. NaREIA, 2008 Top National Newsletter Print Media Award Winner, Mid-size Association. APRIL 2012 What to Do When a Former Don’t Miss a Tenant Owes You Money SIG Meeting! Your tenant left your rental apartment trashed, damaged and owing you money! Your tenant lied and took advantage of you. He may have skipped or you may have evicted 1st Monday him. In either case, he damaged your rental and cost you money! What do you do? Multifamily / Apartments First, set your emotions aside and spend a few minutes getting your ducks lined up. not owe you the rent until the rent is ac- tually due. Only charge him now for lost 2nd Monday Organize your ex-tenants file. Whether rent, as of the date of the move out state- Landlording you own one unit or a thousand; whether ment. If you wish, you may update the you manage your rentals full amount he owes each month time or part time, you are run- until the unit is re-rented or 2nd Tuesday ning a business. Any success- the lease expires. Discuss this Training with an Expert, ful business keeps well orga- issue with your attorney. FREE to Members nized, complete records. Your lease includes termina- Keep copies of all receipts tion and or no notice fees? I 3rd Tuesday required to repair the unit, often hear, “It is in my lease, IRC Breakfast with the Directors legal fees, unpaid rent, etc. he has to pay it.” The think- Complete a move out inspec- ing here is that if it is in the tion checklist, preferably with the tenant, if possible. Both lease it is binding. This is not necessarily true. Termination 4th Tuesday of you sign it. The move out and no notice fees may be le- Making Money with Rehabbing inspection will help you docu- gal in your state, and your ment the condition of your tenant may be held respon- unit and the debt he owes sible for them. With various 3rd Thursday you. If you are not completing state laws and recent case law IRC Main Meeting move in inspection checklists I highly recommend you have now, begin doing so with you next move your lease periodically reviewed by an at- in. This important step is often left out torney to make sure you are complying 4th Thursday “because I didn’t have time”. Take the with current law. If legal in your state, Special Topics: Training time. There is no excuse for not having termination and no notice fees may be a a complete move in inspection signed by great way to calculate all charges at the you and the tenant. time of move out, without having to add future rent as it comes due. Again, talk An emotionally charged issue with some with your attorney about this. landlords is charging through the lease. He signed a twelve month lease and Take pictures. A digital camera is im- skipped or was evicted after only six portant to your business. Move in pictures Be sure to wear your months. Does he owe you for the remain- are nice to have; move out pictures are a ing six months? The short answer is no, must have. The checklist and pictures Name Badge to each not yet. In many states, if you can not re- not only help document the condition of rent the unit before the end of the lease the unit, they may be helpful later if the SIG Group meeting! he will owe you the lost rent. But, he does continued on p8 If you’re looking to reach the Real Estate Industry here in Central Florida, you can’t do better than The RESource. Your ad will reach more than 2,200 each month with your message. Our production team are among some of the best designers in the country. We make you look GOOD! If you are ready to start, call Duane Williams NOW! Call 407-492-3492 © 2012 IRC All Right Reserved. Quotation and reprint are not allowed without written permission of the publisher. 407-831-2498 • www.IRCFlorida.com 3
  • 4. Keep your membership up to date! You’ll be sure not to miss the discounts and specials from our sponsors in the Community Buying Group. Renew your membership or join TODAY!
  • 5. NaREIA, 2008 Top National Newsletter Print Media Award Winner, Mid-size Association. MARCH 2012 Zillow report: Median Rent Prices on the Rise as Home Values Drop By Esther Cho Reprint from DSNews.com – 03/13/2012 W hile homes prices continue to be on the decline, rent prices are actually on the rise and showed a 3 percent increase from Janu- ary 2011 to January 2012, as opposed to Zillow Rent Index (ZRI). During the same period, home values fell 0.5 per- cent to $146,200, according to the Zil- low Home Value Index (ZHVI). home values dropped 8.1 percent. “The flourishing rental market is the sil- ver lining to the nation’s housing down- turn,” said Humphries. “We haven’t home values, which dropped 4.6 percent The states that saw the greatest year- had a good way to quantify what is hap- during that same period, according to over-year decline in home values were pening with rental rates until now, and the January Zillow Real Estate Market Nevada (-10.3), Illinois (-9.4), Georgia the inaugural Zillow Rent Index shows Reports released today. (-9.3), Washington (-7.8), and New Jer- us a healthy and growing rental market sey (-7.2), according to the ZHVI. across the majority of the country, even “While it seems that rents are rising at as home values continue to fall.” the expense of home values, the oppo- Based on the ZRI, the states with the site is true. A thriving rental market will greatest increases in median rent over Nationwide, foreclosures decreased by stimulate home sales as investors snap a year were New Jersey (+16.5), New 0.3 percent compared to the year be- up low-priced inventory to convert to York (+13.7), Kansas (+10.2), Indiana fore in January 2011, but went up 0.3 rentals,” said chief economist for Zillow (+10), and Michigan (+10.0). percent on a monthly basis compared to Dr. Stan Humphries in a release. December, with 8.4 out of every 10,000 The ZRI also showed year-over-year homes foreclosed upon in January 2012. To clear out the excess of unsold proper- gains for 69.2 percent of metropoli- ties, the federal government announced tan areas covered by the index. For the Foreclosure re-sales went up by 2 percent an REO Initiative in August 2011 to sell ZHVI, only 7.3 percent of metro areas over a year ending in January 2012 and rose homes owned by government agencies to saw increases in home values. by 1.4 percent compared to the month be- investors with the purpose of converting fore. Overall, foreclosure re-sales accounted them into rental units. The first block of For some metros, the increase in rent for 19.46 percent of all home sales in Janu- 2,490 REOs went to sale in February. and drop in home prices were closely ary, and Nevada had the highest percentage matched. In the Chicago metro, the of foreclosure re-sales at 49.65 percent. The When looking at rent prices on a month- ZRI went up 9.1 percent year-over-year, state also saw a yearly increase of 12.6 per- over-month basis, January’s median rent while home values fell 10.4 percent dur- cent for foreclosure re-sales. prices actually declined slightly, falling ing the same period. In the Minneapolis- 0.3 percent to $1,218, according to the St. Paul metro, rents rose 11 percent as KS - 8% increase on nice homes Join us for NETWORKING at the meeting after the meeting It convenes right after our monthly meeting at: Winter Park © 2012 IRC All Right Reserved. Quotation and reprint are not allowed without written permission of the publisher. 407-831-2498 • www.IRCFlorida.com 5
  • 6. NaREIA, 2008 Top National Newsletter Print Media Award Winner, Mid-size Association. MARCH 2012 www.IRCFlorida.com www.Facebook.com/InvestorsResourceCenter,LLC www.Facebook.com/IRCFlorida Investors RESource Center, LLC • PO BOX 941658 Maitland, FL 32794 Phone: 407-831-2498 Pick up you “IRC Netwo r rking Broch at the next ure” get the mo meeting to Chuck Burt Karen McRainey st of your m PRESIDENT Newsletter Editor and gatheri eetings PH: 407-645-3540 Ph: 407-699-4781 ngs! Cell: 407-832-7226 FX: 407-574-6572 Fx: 407-644-9094 Email: ksmcrainey@yahoo.com Email: chuck@ircFlorida.com Fb: www.Facebook.com/chuckburt Rick Puglisi Director OF PUBLICITY Debbie Crawford PH: 386-316-7023 Tim Tolbert Director of Membership EMAIL: rickpuglisi@gmail.com DIRECTOR OF TECHNOLOGY And IRC Board Secretary Ph: 407-831-2277 PH: 386-316-7024 Andy Tolbert Fx: 407-842-7669 EMAIL: Debbie@hrrp.org DIRECTOR PROGRAMING Email: tim@atmorflorida.com Cell: 407-842-7700 Fb: www.Facebook.com/2timtolbert Dennis Gaynor Fx: 407-842-7669 DIRECTOR OF MEMBER BENEFITS Email: Andy@IRCFlorida.com Duane Williams Ph: 407-309-7111 Website: www.AndyTolbert.com DIRECTOR OF NEWSLETTER Cell: 407-702-5409 Blog: www.seminolecountyforclosureblog.com Cell: 407-492-3492 Fx: 407-862-7715 Fb: www.Facebook.com/2andytolbert Email: duaneaeg@embarqmail.com Email: BuyerofHomes@hotmail.com LinkedIn: www.linkedin.com/in/andytolbert Website: www.duanewilliamsonline.com Twitter: www.twitter.com/andytolbert Blog: Real Estate Talk America Wayne Gebhardt Fb: www.Facebook.com/duanewilliams.1 Director of Finance LinkedIn: www.linkedin.com/in/duanewilliams PH: 407-353-6899 Plaxo: www.DUANEWILLIAMS7.myplaxo.com EMAIL: mgebhardt1@cfl.rr.com Twitter: www.twitter.com/duane22 Flikr: www.flickr.com/photos/duaneaeg Member of National Real Estate Investors The Investors RESource Center promotes practical knowledge of real Association 2008 winner of Honor of estate investment through education, discussion and networking. Opinions Merit for Midsize Clubs: expressed are not necessarily those of the Investors RESource Center, LLC. While this publication is designed to provide accurate and authoritative 1) Print Communication, 2) Membership, information with regard to the subject matter covered, it is published with the understanding that the publisher is not engaged in rendering legal, 3) Electronic Communications and also 4) accounting or other professional advice. If legal, accounting or other expert professional assistance is required, the services of a competent professional Community Service. person should be sought. Nothing contained herein may be reproduced in whole or in part without express written consent of the publisher. Keep up to date with our latest opportunities by joining us on Facebook www.Facebook.com/IRCFlorida © 2012 IRC All Right Reserved. Quotation and reprint are not allowed without written permission of the publisher. 407-831-2498 • www.IRCFlorida.com 407-831-2498 www.IRCFlorida.com 6
  • 7. NaREIA, 2008 Top National Newsletter Print Media Award Winner, Mid-size Association. MARCH 2012 IRC BUSINESS MEMBERS DIRECTORY ACCOUNTING / BOOKKEEPING INVESTOR / INVESTMENTS A M Business Solutions 386-295-2506 H.P. Investment Group 407-834-1325 JT Investor Group 407-971-0013 ATTORNEY Mid-Florida Investments 407-366-3106 Alvarez Law Firm 407-970-2954 MJM Management Group, LLC 407-739-9110 Property Problem Solvers, LLC 407-207-2011 CABINETS COUNTERTOPS Solid Real Estate Solutions, LLC 407-718-1208 Interior Solutions of Orlando 407-921-8500 Sunvest Homes, Inc 407-247-9337 DEBT REDUCTION / ELIMINATION MORTGAGES TPM Associates 352-357-9310 Atmor Mortgage 407-448-9188 Capital Mortgage Financial Group FORECLOSURE DATA SERVICES 407-275-5112 Foreclosures Daily 863-698-3550 Mortgage Prof. of C.F. 407-330-2855 IRSFL.com 407-299-2891 PROPERTY MANAGEMENT Contractor – Lead Based Paint The Realty Center Southeast 407-637-8000 Creative Homes Paint Renovation 407-645-1432 INVESTORLANDO REALTY 407-937-2200 CONTRACTORS / PROJECT MANAGERS PERMITING PROPERTY REHABBER Alpha Construct II 407-722-6136 Absolute Property Solutions 407-797-3513 Castle Services Group Inc 407-645-3540 REAL ESTATE AGENTS Sunvest Homes Inc 407-247-9337 Andy Tolbert 407-448-4994 HARD MONEY / PRIVATE LENDERS Creative Homes 407-645-1432 Bridgewell Capital 407-447-1000 Invest Orlando Realty 407-937-2200 Private Banker 386-785-8446 Pro Investor Realty.com 718-490-6380 RE/Max Ocean Side 386-931-0485 HOME INSPECTION SERVICES Sand Dollar Realty Group, Inc. 407-389-7318 ACS Home Inspection Services 407-862-8063 Janine Wooten / Weichert 407-620-5633 Marks Guaranteed Home Inspections 407-629-6640 Frank Holmes 407-454-2490 Performance Inspections 386-804-2605 Self-Directed I R A The Inspectagator 407-678-HOME Entrust 407-367-3472 INSURANCE SERVICES WHOLESALE PROPERTIES J Meyer Insurance Group 407-273-0230 Absolute Property Solutions 407-797-3513 INVESTOR / INVESTMENTS Blue Sky Properties 407-766-7627 American Equities Group, LLC 407-492-3492 First Alliance Capital 407-897-0911 Blue Sky Properties 407-766-7627 Seeds of Purpose, Inc 407-702-5409 Castle Properties Group LLC 407-645-3540 H.P. Investment Group 407-834-1325 Foreclosures Gone Wild 407-888-3255 Mid-Florida Investments 407-702-4900 Seeds of Purpose, Inc 407-702-5409 Premier Property Solutions 407-737-SELL Homes To Own 407-592-4166 Property Problem Solvers, LLC 407-207-2011 Sky Quest 407-424-7865 © 2012 IRC All Right Reserved. Quotation and reprint are not allowed without written permission of the publisher. 407-831-2498 • www.IRCFlorida.com 7
  • 8. NaREIA, 2008 Top National Newsletter Print Media Award Winner, Mid-size Association. MARCH 2012 Tenant Owes cont. from p3 claim against the Security Deposit you Now that you have your documents or- must mail a special letter titled: “Notice ganized, and have mailed the move out tenant gets creative with his description of Intention to Impose Claim Against Se- statement, do not just put the file away of the condition when he moved in and curity Deposit” within 30 days of the ten- somewhere and forget it. The money you when he moved out. ant’s move out. (Click Here to Download are owed is an asset. I can not tell you the letter) It must be sent via Certified how many times I have heard the com- Keep a log of all communications you Mail to the tenant’s last known address, ment, ”That bum will never pay his bill!” have with your tenant, especially any which very often is your rental. Failure to If you have a crystal ball that tells you he communication regarding him moving or do this will give your debtor the upper won’t pay his bill, maybe you should have paying his rent. If you do not have a log, hand, and you may be required to repay put it to use before he moved in. I can begin using one immediately for all your his deposit even though he actually owes tell you with confidence that this way if present and future tenants. you money! Keep your certified mail re- thinking is costing landlords millions of ceipt with your records. You may need dollars a year in lost profit. Once you have your records together, proof that you complied with the law. If complete a move out statement. Most the letter is returned un-received, keep it With little effort on your part you may likely your management software will in the file also. collect all or part of what you are owed. do this for you. The move out statement should include the names of everyone who A word of caution here: Some landlords Bill Gray is an independent consultant who signed the lease, the unit address, move are tempted to pile on, and exaggerate has been assisting landlords and property man- in/move out dates and a break down of the charges. While emotionally tempt- agement companies nationwide in addressing the charges. If a deposit was placed on the ing, it will do you no good in the end, the issue of tenant debt since 1997. unit you will show the deposit subtracted and it is not legal. Being fair and reason- from the total due. Florida law is explicit able in your charges will greatly increase Reprinted with permission by Paul Howard, on this point. If you intend to impose a your chances of recovering the debt. Florida Landlord Network, flalandlord.com You’ll Find Some Of The Best R/E Educators In The Country At The Irc Meeting! 3rd Thursday Of Each Month HousingPulse Survey Reveals More Investors Pursuing Short Sales By Esther Cho Reprint from DSNews.com – 03/13/2012 I nvestors are making it a practice to endure through obstacles that come with the discounted price of short sales and pursued them at a greater pace in February compared to previous The percentage of investors buying homes climbed from 20.9 percent of all transac- tions in September 2011 to 24.2 percent of all transactions in February 2012, ac- cording to the survey. The investor share In contrast, the number of short sale pur- chases from homeowners has waned since September. This trend is largely driven by long-approval times from mortgage servicers and unpredictable closing dates, months, according to the latest results of of short sales also rose, going from 25.9 according to the survey. the monthly Campbell/Inside Mortgage percent to 30.6 percent during the same Finance HousingPulse Tracking Survey. six-month period. © 2012 IRC All Right Reserved. Quotation and reprint are not allowed without written permission of the publisher. 407-831-2498 • www.IRCFlorida.com 8
  • 9. NaREIA, 2008 Top National Newsletter Print Media Award Winner, Mid-size Association. MARCH 2012 License cont. from p2 Cease and Desist orders from the State properties, do not get a license at least in #7 bility to show properties to yourself A for the “investment activities” that the beginning. Do a few deals and find without needing another sales were really just unlicensed brokerage out if real estate investing is really what associate to accompany you. A big activities. Read Chapters 475.01 and you want to do. After a few deals, then obstacle if you are making lots of 475.011, Florida Statutes for what you can decide if you want to take the offers on listed properties. constitutes brokerage activities and step of getting a license. Having the li- who is exempt. cense is not for everyone, and there are #8 avorable income tax rules regarding F plenty of successful investors that do not active vs. passive income and tax #4 isclosure of your real estate license D have a license. I have found it is better to write-offs. (Ask your CPA.) to potential buyers and sellers. Some get a license if you are doing many trans- “gurus” say this is a negative. To me actions on a regular basis or if you have a #9 ou can offer to list properties that Y it is actually a positive. Why would a large portfolio of properties that you are do not make sense to purchase as an seller or buyer want to deal with some working with. The more volume you do, investment. Many times we offer to unlicensed investor (who might just be the more you probably need the license. buy the property first and then list the a scam artist) when they can deal with It does not necessarily need to be you that property second - depending on the someone that is regulated by the State obtains the license though. I know many deal of course. of Florida? I use this argument all the investment teams where a spouse, parent, time when buying property and helps child, friend, or employee gets the license. Now, for the negatives for me clinch the deal. obtaining a license. I hope this article has been enlightening to #5 ourts may hold sales associates to a C you. I do recommend that everyone take #1 ducational requirements - pre- E “higher standard” then they would a the real estate pre-licensing course. You licensing, post-licensing, continuing non-sales associate. Another “guru” can take it at many of the local community education, and several tests are negative for not getting a license. colleges or real estate schools or even on- mandatory. However if you are doing lots of line. Even if you never get a real estate li- deals and are advertising yourself as cense, the course goes over many of the ba- #2 he costs in both time and money T a professional investor, you are going sics of real estate, the contract, and Florida for the license, the application, and to be held to a higher standard than a law. The course can be a real eye-opener to annual dues with the State, the board layperson anyway. If you go to court, investors. I have talked to a few investors of Realtors®, and the MLS. You only you still lose time and money even that took the course and then realized that need to join the board of Realtors® if if you prevail. Most of the people they had been breaking the law for years you want access to the MLS though; that I know who have been sued by and did not even know it. you can still legally get paid a a seller or buyer or partner in a bad commission without joining the board real estate investment deal did not If you need help determining whether or of Realtors®. have a license. And often they got not you should get a real estate license, feel sued because they were ignorant of free to call me and we can discuss your situ- #3 aving to abide by the State real H the various laws regarding real estate ation. Until next time... happy investing. estate laws and the board of Realtors® - laws that get taught in the pre- Code of Ethics. Just because you are licensing real estate 101 class. Rob Arnold, licensed real estate broker with unlicensed does not mean that you Sand Dollar Realty Group, Inc. can be do not have to abide by the State So what is my advice on getting a license? reached at 407-389-7318 or laws. Plenty of investors have gotten If you do not plan on listing and showing www.SDRhouses.com If you are ready to start, call Duane Williams NOW! Call 407-492-3492 If you’re looking to reach the Real Estate Industry here in Full Page $175/mo., 7.5”w x 10”D or 8.5x11 with full bleed Central Florida, you can’t do better than The RESource. 2/3rd Page $150/mo., 5”w x 10”D, 7.5”w x 6.25’D Your ad will reach more than 2,200 each month with your 1/2 Page $125/mo., 7.5”w x 4.5”D, 5” w x 6.5”D message. Our production team are among some of the 1/3rd Page $95/mo., 5”w x 5”D 1/4th Page $75/mo., 5” w x 4” D, 3.7”w x 5”D best designers in the country. We make you look GOOD! 1/8th Page $40/mo., 2.4” w x 3.5” D, 5”w x 2”D Your ad can be any of the following sizes. © 2012 IRC All Right Reserved. Quotation and reprint are not allowed without written permission of the publisher. 407-831-2498 • www.IRCFlorida.com 9
  • 10. NaREIA, 2008 Top National Newsletter Print Media Award Winner, Mid-size Association. APRIL 2012 Don’t miss the roll out of the new Membership and Education Program at Thursday’s Meeting! You will learn about our Great New Membership Benefit and Education Program. Our new Education Program with training classes each month includes: • 1st Tuesday each month Training • 2nd Tuesday each month Training with an Expert – FREE to all paid members • 4th Thursday each month Training © 2012 IRC All Right Reserved. Quotation and reprint are not allowed without written permission of the publisher. 407-831-2498 • www.IRCFlorida.com 10
  • 11. NaREIA, 2008 Top National Newsletter Print Media Award Winner, Mid-size Association. NaREIA, 2008 Top National Newsletter Print Media Award Winner, Mid-size Association. MARCH 2012 APRIL NEW MEETING TIMES: Doors open at 6pm and meetings start at 6:30pm KEEP YOUR NEWSLETTER COMING Remember to pay your membership at the meeting! SIGroups Calendar Thursday, March 15th • 5:30 – 6:00 PM – DON’T MISS THE MEETING BEFORE THE MEETING New Location 3rd Tuesday of Each Month: 1st Monday of Each Month: IRC Breakfast with the Directors Multifamily / Apartments Apr 17 / May 15 Apr 2 / May 7 9:00 AM. Denny’s at Lee Rd. and I-4. 6:30 p.m. - 8:30 p.m. SoNapa Restaurant (Old Steak Ale) 640 S. Orlando Ave., Maitland, 32751 4th Tuesday of Each Month: Led by Bob Bowman  • 321-239-0647 • bobbowman@cfl.rr.com Making Money with Rehabbing Apr 24 / May 22 2nd Monday of Each Month: 6:30 pm. Denny’s located Lee Road and I-4 Landlording Co-leaders, Ron Smith and Brian Sullivan Apr 9 / May 14 6:30 p.m. - 8:30 p.m. 3rd Thursday of Each Month: Denny’s Altamonte Springs, 2 blocks east of I-4 on 436. Contact Robin Butler at 407-599-4446 or robinbutler585@earthlink.net  IRC Main Meeting Apr 19 / May 17 NeW!! FREE TO MEMBERS Doors open at 5:30 pm Winter Park Civic Center. 1050 W. Morse Blvd. Winter Park, FL 2nd Tuesday of Each Month: Training with an Expert NeW!! SPECIAL TOPICS Apr 10 / May 8 4th Thursday of Each Month: 6:30 pm. Denny’s Altamonte Springs, 2 blocks east of I-4 on 436. Training Apr 26 / May 24 6:30 pm. Onier HD Realty office, 1499 W State Road 434, Longwood 32750 Contact Tim Tolbert at 407-831-2277 © 2012 IRC All Right Reserved. Quotation and reprint are not allowed without written permission of the publisher. 407-831-2498 • www.IRCFlorida.com 11
  • 12. IRC ORLANDO CALENDAR OF EVENTS M A R C H / A P R I L 2 0 1 2 SUNDAY MONDAY TUESDAY WEDNESDAY THURSDAY FRIDAY SATURDAY 1 2 NEW LOCATION 3 4 5 6 7 Multifamily / Apartments 6:30 – 8:30 pm SoNapa 640 S Orlando Av, Maitland 32751 (Old Steak Ale) 8 9 10 11 12 13 14 Landlording Training with an Expert, 6:30pm AAGO FREE to Members Denney’s 436 I-4 6:30 pm. Denny’s Altamonte Springs Altamonte Springs 15 16 17 18 19 20 21 IRC Breakfast IRC with the Directors Main Meeting 9:00am 5:30 - 6pm Mini-Seminar, Denny’s at Lee Rd. 6 - 7:30pm Meeting News, and I-4. 7:45 - 9pm Main speaker 22 23 24 25 26 27 28 Making Money with Rahabbing SPECIAL TOPICS 6:30 pm. Denny’s Training Altamonte Springs Topic: TBA I-4 436 29 30 1 2 3 4 5 6 7 NEW LOCATION 8 9 10 11 12 Multifamily / Apartments Training with an Expert, 6:30 – 8:30 pm FREE to Members SoNapa 640 S Orlando 6:30 pm. Denny’s Av, Maitland 32751 Altamonte Springs (Old Steak Ale) 13 14 15 16 17 18 19 IRC Breakfast IRC Landlording with the Directors Main Meeting 6:30pm AAGO 9:00am 5:30 - 6pm Mini-Seminar, Denney’s 436 I-4 Denny’s at Lee Rd. 6 - 7:30pm Meeting News, Altamonte Springs and I-4. 7:45 - 9pm Main speaker 20 21 22 23 24 25 26 Making Money with Rahabbing SPECIAL TOPICS 6:30 pm. Denny’s Training Altamonte Springs Topic: TBA I-4 436 27 28 29 30 31 NEWSLETTER design provided by www. RiverCityConsulting .com